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Inc42

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Why Razorpay Added POP Music To Its ‘Paylist’

  • Razorpay recently acquired majority stake in UPI payments app POP, intensifying competition in online merchant payments space.
  • Razorpay has been active in consolidating operations, targeting an IPO, and providing omnichannel banking and digital payment solutions.
  • The acquisition of POP enhances Razorpay's offerings enabling loyalty-first payments ecosystem, scaling UPI transactions and issuing co-branded credit cards.
  • POP aims to increase customer trust, boost repeat purchases, and build brand loyalty through rewarding UPI transactions and loyalty programs.
  • Razorpay's investment in POP complements its previous acquisition of PoshVine, focusing on loyalty and rewards management for merchants.
  • The move into digital commerce aligns with Razorpay's expansion into international markets like Malaysia and Singapore, aiming for growth beyond India.
  • Razorpay's lead in payments aggregation space, coupled with acquisitions like POP, indicates strategic steps for future growth and market dominance.
  • The $30 Mn investment in POP is seen as a long-term strategy to strengthen Razorpay's position and increase its UPI market share in the medium term.
  • The online payments ecosystem is witnessing intense competition, with companies like Cashfree, PhonePe, and Razorpay advancing to protect their market shares.
  • Razorpay's move to consolidate operations, enhance offerings, and broaden its reach indicates a strategic push towards future growth and market leadership.

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Medium

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My Journey from Designing Experiences to Crafting Strategies and Embracing Product Management

  • Ifunanya Marriette Okeke, known as marrietify, shares her transition from product designing to product management.
  • She was a passionate product designer focusing on user experiences and interfaces.
  • After three years, she desired a broader impact and transitioned to product management.
  • Marriette wanted to shape product strategy, collaborate with teams, innovate, and drive product success.
  • Her interest in product management sparked from wanting more significant responsibilities.
  • She received support and guidance from mentors and a professional network.
  • Connecting with experienced product managers and attending events helped her grow in her new role.
  • Through reflection, Marriette feels proud of her accomplishments and looks forward to the future.
  • She expresses readiness for the next career chapter in product management.
  • Marriette is confident in her ability to influence digital products and make a lasting impact.

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Medium

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How Three AI Researchers Decided to Eliminate Every Job on Earth

  • Former AI researchers from Epoch AI have left to start a company, Mechanize, to eliminate human labor quickly.
  • Mechanize aims to fully automate the economy using virtual work environments and training data.
  • The company claims this automation will lead to explosive economic growth, but workers across industries are already being displaced.
  • Their vision of automating every sector of the economy is already impacting various professions rapidly.
  • Mechanize's founders underwent an ideological transformation from caution to dismissal of AI risks and automation concerns.
  • They aim to replace humans with AI agents in various fields, showing disregard for human displacement concerns.
  • The company's focus on complete automation neglects the economic repercussions for displaced workers.
  • Mechanize's approach to automation prioritizes speed over thoughtful implementation, potentially causing social disruption.
  • Their vision threatens to eliminate human agency, creativity, and meaningful contribution from economic activities.
  • The accelerated automation being pursued by companies like Mechanize poses a significant threat to human employment and societal welfare.

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Medium

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Proof-of-Favo: A Hybrid Consensus Architecture for the Mobile Web3 Era

  • Proof-of-Favo (PoFavo) is a hybrid consensus model introduced by FavoChain for global network creation.
  • FavoChain combines a core of professional validators (FavoSeal) with a swarm of millions of mobile devices (FavoSwarm) in its architecture.
  • FavoSeal provides speed and security comparable to top DPoS systems, aiming to address centralization issues.
  • FavoSwarm consists of mobile devices verifying transaction signatures, contributing to decentralization.
  • The system faces significant engineering challenges that require the expertise of top engineers to solve.
  • Key challenges include security guarantees, scalability, and economic incentives for participants.
  • FavoChain is seeking co-founders and contributors to collaboratively address these complex problems.
  • The project is in the architectural manifesto stage, emphasizing the importance of finding innovative solutions.

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Hackernoon

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Numbers Don’t Lie But They Can Quietly Kill Your Startup Pitch

  • Knowing your startup numbers is crucial for a successful pitch as it demonstrates a deep understanding of your business's financial health.
  • Key numbers include Burn Rate, CAC, LTV, Gross Margin, Runway, MRR/ARR, Churn Rate, Payback Period, EBITDA, and Valuation.
  • Investors focus on metrics like LTV being 3x or more than CAC, a healthy Gross Margin, growing MRR/ARR, and low Churn Rate.
  • Understanding financial concepts like EBITDA and Valuation is essential to showcase your company's true value.
  • A lack of financial awareness can lead to missed funding opportunities and a perception of not being a serious business.
  • Founders need to own and understand their numbers to instill confidence in investors and show the sustainability of their business.
  • Success lies in knowing the mechanics and financial foundation of your startup, not just impressing with ideas or charisma.
  • Having a strong grasp of startup metrics is key to long-term success and attracting investment for growth.
  • The article concludes by emphasizing the importance of founders being well-versed in their financial data to build fundable companies.
  • Acknowledge the significance of understanding startup metrics and finances to ensure the viability and longevity of your venture.
  • Taking ownership of your startup's financial health is fundamental in building a sustainable and successful business.

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News Publishers Flag Use Of Copyrighted Materials By AI Giants Without Consent

  • News portals and content platforms have raised concerns about AI giants using their copyrighted data for training large language models without permission.
  • Representatives from the content industry brought up the issue during a consultation meeting organized by a DPIIT panel.
  • Online news platforms consider the use of copyrighted data for AI training as copyright infringement, while tech giants argue the need for massive data, much of which is copyrighted.
  • DNPA members, including major Indian media houses, emphasized the need for fair compensation for content producers and recognition of their rights in the digital space.
  • Budding AI startups emphasized the importance of a level-playing field in AI model training and ownership of generated content.
  • Participants discussed the possibility of a statutory licensing mechanism for AI training purposes.
  • The Centre set up a panel to review copyright laws in light of rising AI-related disputes.
  • ANI sued OpenAI in the Delhi HC last year over the use of copyrighted content to train AI models.
  • Several media outlets, under DNPA, and the Federation of Indian Publishers have also joined the lawsuit against OpenAI.
  • Music labels like T-Series, Saregarama, and Sony expressed interest in joining the copyright lawsuit.
  • The panel will publish a working paper to address challenges posed by AI on India's copyright law.
  • Regulators are debating the permission of text and data mining for AI systems, with a potential opt-out provision.
  • The ongoing debate raises questions about ownership of content generated by AI models and the rights of content creators.
  • The need for updating copyright laws to align with AI advancements is being considered after stakeholders meetings.
  • The issue of copyright infringement by AI giants has led to legal battles and concerns regarding the use of copyrighted materials without consent.

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How ZYOD Is Powering A New Wave Of On-Demand Fashion Manufacturing

  • ZYOD is revolutionizing fashion manufacturing by providing design-to-delivery solutions, sourcing fabrics, connecting brands with factories for quick production cycles, and partnering with leading companies like FAN MANIA.
  • The platform operates in 40 countries, serving 500+ SMEs, 550+ D2C companies, and 50+ global fashion brands.
  • With a focus on agility and tech integration, ZYOD offers lower MOQs, 10K+ unique styles per month, and a 50-day design-to-delivery cycle.
  • It uses AI-driven forecasts, efficient line planning, and quality enhancement to reduce unsold inventory and cater to fast-changing fashion trends.
  • ZYOD's funding of $21.5 Mn across three rounds and revenue growth to $20 Mn in FY25 showcase its momentum in the market.
  • The startup's tech-powered excellence hubs in Gurugram and Jaipur streamline operations, reduce production cycles, and enhance quality control.
  • ZYOD's approach differs from Fashinza, focusing on standardization, operational control, and scalability rather than just supplier matchmaking.
  • The platform's AI tools, predictive analytics, and digital sampling help brands customize styles, optimize production, and reduce time-to-market.
  • ZYOD's vision to expand globally, elevate India's apparel exports, and transform fashion manufacturing faces challenges in quality assurance and cross-border operations.
  • By offering an integrated solution and bridging design with data, ZYOD aims to redefine modern fashion manufacturing for speed, flexibility, and sustainability.
  • Overall, ZYOD is striving to enhance India's apparel exports and position itself as the backbone for global fashion brands, ushering in a new era of agile and tech-driven industry operations.

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Exclusive: Now, Blinkit’s Bistro Starts Charging Convenience Fee

  • Blinkit's Bistro, owned by Eternal, has begun charging a convenience fee of INR 5 on orders, joining other ecommerce platforms.
  • The fee is displayed at checkout, surprising users at the final payment stage without prior notice from Bistro.
  • No official communication from Bistro regarding the new convenience fee.
  • This move aligns with a trend of food and quick-commerce platforms introducing various fees to boost revenues.
  • Swiggy and Zomato have implemented delivery, small basket, packaging, and convenience fees ranging from INR 10 to INR 30.
  • Zepto applies packaging, handling, and surge pricing fees on certain orders.
  • Blinkit's Bistro competes in the fast food delivery market with Zepto Cafe and Swiggy's SNACC, offering quick meal and snack delivery.
  • Bistro, piloted in Gurugram, delivers in 15 minutes and is gradually expanding its services.
  • Zepto Cafe recently halted operations in several North Indian cities citing supply chain issues.
  • Despite challenges, quick food delivery remains attractive for startups, with BigBasket testing the service in Bengaluru.
  • Companies like Swish and Zing are also active in this space.

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Insurance broking startup RenewBuy raises $10 million in funding: Report

  • RenewBuy, an insurance broking startup, has secured $10 million in fresh funding from existing investors Apis Partners and 360 One.
  • The funding aims to support business development until the pending merger with InsuranceDekho is finalized.
  • RenewBuy facilitates the sale of various insurance policies through a network of physical agents and intends to utilize the funds for operational support and business expansion.
  • The proposed merger with InsuranceDekho, announced in October 2024, is still awaiting regulatory approval from IRDAI.
  • Founded in 2014, RenewBuy has raised a total of approximately $141 million from investors like Dai-ichi Life Holdings and Apis.
  • In the financial year ending March 2024, RenewBuy recorded total revenue of Rs 410 crore and narrowed its losses to Rs 114 crore, displaying enhanced operational efficiencies.
  • The merger with InsuranceDekho, if finalized, could value RenewBuy at an estimated $300 million to $350 million, positioning the combined entity as a prominent player in India's insurance aggregation sector.

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TechCrunch

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2 days left to save up to $210 on your TechCrunch All Stage pass

  • Time is running out to save up to $210 on TechCrunch All Stage pass. The regular bird pricing ends on Sunday, June 22, at 11:59 p.m. PT.
  • TechCrunch All Stage event is set to take place in Boston at SoWa Power Station on July 15, with a focus on founders, investors, and startup operators.
  • Attendees can expect tactical sessions, real conversations, and curated connections at the event.
  • The event aims to provide practical insights and valuable connections for attendees.
  • Sessions at TC All Stage include topics like 'How to Actually Raise Right Now' and 'Scaling with Soul' among others.
  • Speakers at the event include industry experts such as Ellen Chisa, Charles Hudson, and Cathy Gao, offering firsthand insights into building and scaling companies.
  • In addition to on-stage discussions, the event features roundtables, networking opportunities, and pitch sessions for startups.
  • Attendees can save over $200 by registering before the deadline on June 22.
  • This event promises to provide strategies, workshops, and connections for attendees to build, scale, and connect effectively.
  • Don't miss out on the chance to connect, grow, and scale at TC All Stage before prices increase in 2 days.

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Medium

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Execution Is Culture: Lessons from a Biotech Startup at the Edge of Science and Software

  • In the early years of building Ordaos, issues arose due to lack of clarity on the end user and success criteria.
  • A cross-functional team built a product without aligning on the actual end user, resulting in a product that didn't meet any real need.
  • The Scrum Master applied Agile Methodologies and Scrum to the machine learning team, but it didn't work well for building proteins from scratch with AI.
  • Introducing a Kanban board and daily stand-up led to improved teamwork and a shift towards focusing on 'good enough' rather than perfection.
  • A workshop focused on thorough planning and debriefing after each mission brought about a company-wide shift towards learning and reflection.
  • Building a high-safety, high-trust culture where honesty and learning are encouraged was seen as essential for a serious scientific organization.
  • Culture in startups is crucial for how people work, make decisions, and respond to challenges, and it impacts execution directly.
  • Execution and culture are intertwined, requiring clear priorities, shared language, and habits to keep a team aligned for effective delivery.
  • Scaling execution in science necessitates systems that accommodate uncertainty while fostering shared momentum and delivering meaningful outcomes.
  • Building a team that can deliver what is truly essential entails understanding the connection between execution and culture.

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Amazon to invest $233 million to enhance India operations network

  • Amazon India to invest $233 million in enhancing logistics and operations infrastructure to accelerate delivery speeds and service reliability.
  • The investment aims to fortify fulfilment, sortation, and last-mile delivery capabilities in urban markets.
  • This move comes amid increased competition and a slowdown in India's digital retail sector.
  • Abhinav Singh, VP-Operations at Amazon India and Australia, highlighted the commitment to expanding and upgrading operations.
  • Amazon recently piloted its 10-minute delivery service 'Now' in Bengaluru and plans to expand to Delhi-NCR and Mumbai.
  • India's e-tail market growth decelerated to 10–12% in 2024, down from over 20% in previous years.
  • Amazon India reported a 14% increase in operating revenue in fiscal year 2024, reaching Rs 25,406 crore.
  • Investments extend to technology enhancements, workforce initiatives, and employee welfare programs.
  • The company is focused on improving delivery personnel app transparency, navigation efficiency, and employee welfare like promoting helmet usage.
  • Programs such as 'Samridhi,' 'Ashray,' and 'Sushruta' aim to provide financial assistance, rest points, and healthcare support.
  • A health check-up campaign is expected to benefit 80,000 delivery associates by year-end.

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Startup Pedia

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Launched With ₹15,000, Gujarat’s Profitable, Non-Listed Bootstrapped Solar Startup Made ₹74 Cr Revenue in 2024, Eyes ₹1,000 Cr by 2030

  • Ksquare Energy, a Gujarat-based solar startup, aims to provide affordable solar energy solutions for both residential and commercial sectors.
  • Founded in 2017, the company offers B2C rooftop solar projects and supplies solar products to EPC companies across India.
  • Ksquare focuses on residential projects, ensuring real change with a seamless customer journey and a 5-year Zero Loss Guarantee.
  • The company operates profitably without external funding, expanding its footprint in multiple states with a customer-centric approach.
  • From a humble beginning with just ₹15,000, Ksquare Energy has shown remarkable growth, reaching revenues of ₹74 crore in 2023–24.
  • The founder, Kuldeep Sorathiya, plans to achieve ₹1,000 crore in revenue by 2030 and create widespread impact through job creation and expansion.
  • Ksquare Energy's growth trajectory showcases a successful journey from a one-man army to a structured company with sustainable growth.
  • The company's Vision 2030 focuses on providing energy access to all households in India while creating employment opportunities across the country.
  • Kuldeep's determination and commitment to empowering lives through solar energy reflect in Ksquare Energy's ambitious yet purpose-driven goals.
  • With a compelling story of resilience and innovation, Ksquare Energy exemplifies the potential for impactful growth in the renewable energy sector.

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Eternal’s District Adds Retail Stores, Shopping Deals To Its Cart

  • Eternal's District app has introduced a 'Stores' section featuring retail chain listings like The Souled Store, Adidas, VLCC, and more.
  • Users can discover stores for apparel, accessories, and home decor, and avail additional discounts and vouchers for making payments through the platform.
  • The app also offers instant discounts and redeemable vouchers at partner outlets.
  • District has added an 'Activities' section for games, adventure parks, and workshops in partnership with influencers.
  • District began as a ticketing platform and has gained over 10 million downloads since its launch in November 2024.
  • The app aims to compete with BookMyShow by introducing shopping deals, dining options, live events, and movie ticket bookings.
  • Eternal invested in magicpin and faced a Q4 FY25 EBITDA loss of INR 47 Cr in the 'Going Out' business segment.
  • The company anticipates losses in the short term as it transitions users to the District app and expands supply creation.
  • Eternal's CFO expects sustained investments in the business for about a year before profitability.
  • Shares of Eternal closed 1.62% up at INR 253.40 on the BSE.
  • Eternal's District app is diversifying into retail and activities to enhance user engagement and offerings.

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Dev

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The Quiet Gap in How We Message People Today

  • The most common communication gap today is reaching people across different platforms where email becomes the default due to its universality despite its inefficiencies.
  • RelayBeam introduces a Port-based messaging network to streamline cross-boundary conversations for various purposes like hiring, collaborations, and networking.
  • Ports are unique, human-friendly addresses organized by purpose, allowing structured and thoughtful communication while maintaining user control over access.
  • An example Port address could be 'alex@hiring', eliminating inbox clutter, random messages, and personal exposure.
  • Ports can be customized for different functions like client communication, feedback collection, media inquiries, and support requests, all managed in one coherent platform.
  • Ports simplify interactions in various scenarios such as founder-onboarding, investor outreach, podcast coordination, and job-seeking without requiring users to switch between tools.
  • RelayBeam is designed to be lightweight, catering to solo founders, content creators, and individuals dealing with a high volume of messages, offering simplicity and structure to communication.
  • The service is free to use and easy to set up, aimed at enhancing communication efficiency and organization.
  • Users are encouraged to try creating their first Port to experience its benefits, with RelayBeam transitioning from early user testing to broader access.

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