It's 🕛 Already!
E-Cell IIT BHU's Weekly Newsletter
Namastey 🙏 Junta!
A lot has happened in the recent week, the conclusion of election in five states, rescue of multiple citizens from Ukraine through operation Ganga, unsteady markets, and whatnot.
As things cool down a bit, let’s take a moment and go through the startup stories of this week. Also, do not forget to try out our fun zone.
Indian Robotics Startup, Addverb gets $135 Mn funding from Reliance 🤖
Founded in 2016 by Sangeet Kumar, Prateek Jain, Bir Singh, Satish Kumar Shukla, and Amit Kumar. Addverb started their journey from Asian paints and is now a startup bagging huge investments.💰
Addverb’s proprietary warehouse robotics and automation products are being used by retail and eCommerce giants around the world. Over the years, it has helped giants including Flipkart, Amazon, Coca-Cola, Patanjali, HUL, Asian Paints, Pepsico, ITC, and Marico in automating their warehouses.
Reliance has recently acquired a 54% stake in Indian robotics and automation startup Addverb for a sum of $132 Mn
Addverb plans to use the amount to expand in international markets, and also in setting up the world’s largest robot manufacturing facility.🌏
“It is easy to set up a software company in India as the talent, funds and mentorship are all available in abundance here. The biggest problem in setting up a hardware manufacturing company is the availability of talent,”
-Sangeet Kumar, Founder of Addverb.
Customer Lifetime Value
Entering the market as a startup for the first time sure requires a lot of planning and a well-structured marketing strategy! One of the relevant parameters that help in judging such strategies is the "Customer Lifetime Value".
The Customer Lifetime Value of a customer evaluates him on the basis of the present value of the projected future cash flows from the customer relationship. It is basically a metric to assess the financial value of each customer.
This parameter is crucial in devising an efficient strategy for marketing as it gives your startup an upper limit on the amount that it should be willing to spend to acquire a new customer.
Thus keeping the CLV in mind and of course the other parameters, you can come up with an efficient and profitable marketing strategy for your startup!
“Opportunity is missed by most people because it is dressed in overalls and looks like work.”
ON THE OPEN ROAD : REWORK
Rework explains the new rules of work and how to think about business and the workplace in the 21st Century. If you want to create a company culture that will thrive then this is the book for you.
Forget about everything you think a business should be like. We won’t be saying a lot about this, here’s a video from the man himself, Ankur Warikoo.
We’re back with some refreshing activity, word search🔎. Let’s find some names of successful Indian startups and young entrepreneurs.
Answers to last week’s puzzle:
Sugar 2.BharatPe 3.Zoho 4.Lenskart
Nykaa 6.PolicyBazaar 7.iMumz 8.BrightChamps
NETFLIX is dying!?
Hello folks! How many of you have subscriptions to popular video streaming providers like Netflix, Amazon Prime, HBO, and so on.,? I’m sure enough, that every one of us is aware of these platforms in this era of the entertainment world!!
But do you know, despite the heavy competition, how all these platforms are making up their position in the market? Today, Let’s explore how Netflix shifted its business model in order to be the biggest subscription streaming provider in the world.
Netflix is an inspirational example of a company that started with renting boxed products through a mail service nationally (in the US) and shifted to delivering on-demand entertainment catering to diverse needs globally. The "all you can eat subscription’ that Netflix offers, lets you watch your favorite shows anywhere and at any time you want. What did their innovation journey towards this success look like and what is driving the exponential growth?
Let’s watch this video to know this secret!!
Well, looks like you have found the end 🔚of it but no worries 😟as we will be back with more stories and fun 🎉 next week.
Till then, Be Happy, Be Safe!