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Startup News
Economic Times
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Oyo reports Rs 158 crore net profit in Q2: founder Ritesh Agarwal
- Oyo achieved a profit after tax of Rs 158 crore in Q2.
- This marks a turnaround from the net loss reported in the previous fiscal.
- Oyo's revenue surged to Rs 1,578 crore in Q2.
- Oyo recently acquired G6 Hospitality, parent company of Motel 6 and Studio 6 brands.
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AllTopStartups
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Understanding the Basics of Paid Search Advertising for Small Businesses
- Paid Search Advertising, also known as Pay-Per-Click Marketing, is highly productive in directing targeted traffic to a webpage.
- PPC campaigns are determined as risk-free and result in controlled growth on investment at 200%.
- PPC employs an auction system, where businesses can target specific keywords or phrases relevant to their offerings and pay for them.
- The position of advertisements is determined by Google’s Ad Rank formula.
- PPC ads ensure instant recognition and visibility, which is useful for businesses that need instant visibility during product promotions or launches.
- PPC gives businesses the functionality to target their ads to specific users who search for products and their devices.
- Small businesses can set daily or monthly limits on advertising, therefore avoiding over-expenditure and ensuring cost-effectiveness.
- PPC campaigns come with statistics displaying the number of impressions, clicks, and conversions in record time, enabling businesses to optimize their ad campaigns for efficiency over time.
- On average, for every dollar spent on Google ads, $2 is earned back in revenue. Therefore, if properly undertaken, PPC is very profitable.
- Best practices of PPC campaigns include keyword research, engaging Ad copy, optimized landing pages, regular monitoring and adjustment, usage of negative keywords and mobile optimization.
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Medium
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215
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Powering Through: Creative Solutions for Software Engineers Facing Nigeria's Electricity Crisis
- Investing in portable devices that can be powered using a power bank is a creative solution for software engineers in Nigeria.
- Local libraries that offer electricity for registered users can be leveraged as an alternative power source.
- Samsung Dex allows Samsung phone users to simulate a desktop environment, creating a portable workspace powered by their mobile device.
- Building a solar inverter system provides a long-term solution for consistent power supply during outages.
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12 Likes
Inc42
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400
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Bizongo Joins Hands With NALCO To Boost Digital Distribution Of Aluminium Products
- B2B ecommerce platform Bizongo has partnered with National Aluminium Company Limited (NALCO) to distribute its aluminium products.
- Bizongo will use its marketplace BizongoBuy and finance platform BizongoFin for the distribution of NALCO's non-ferrous products.
- Bizongo's monthly aluminium distribution volume crossed 1,500-2,000 MT in the first quarter, leading to its classification as a top tier distributor by NALCO.
- This partnership is expected to strengthen Bizongo's position in raw material procurement and enable SMEs and corporates to access premium-quality materials.
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Startupreporter
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Rehau Strengthens Indian Market Presence With 51% Stake Acquisition In Red Star Polymers
- REHAU Group, based in Germany, has acquired a majority stake in Chennai-based RED STAR Polymers through foreign direct investment from its Swiss entity.
- Under the leadership of veteran Mr Karthikeyan, RED STAR is predicted to excel in the edgeband sector.
- The firm currently employs 200 people, but that number is expected to increase to 250 with upcoming expansion plans.
- REHAU aims to acquire the remaining 49% of RED STAR Polymers over the next three years.
- The acquisition will expand REHAU's product portfolio, broadening its reach in the interior solutions market across retail and OEM markets.
- The move will empower REHAU to capitalise on the growing demand for affordable, high-quality Edgebands in Tier II and Tier III cities.
- This acquisition is part of REHAU's expansion strategy, reinforcing their commitment to making premium products accessible to all.
- Established in India in 1997, REHAU is committed to the Indian market, having made significant investments in the country.
- The deal reflects REHAU's journey of strengthening its presence in India's evolving market landscape.
- The acquisition marks a crucial step in exploring India's cost-conscious markets, where demand for reliable and affordable solutions is on the rise.
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Yourstory
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356
Image Credit: Yourstory
OYO posts Rs 158 Cr profit in Q2, revenue at Rs 1,578 Cr: Ritesh Agarwal
- OYO achieved a profit after tax of Rs 158 crore in Q2.
- OYO's H1 FY25 net profit stands at Rs 290 crore ($35 million).
- In Q2 FY25, OYO's revenue surged to Rs 1,578 crore.
- OYO acquires G6 Hospitality for $525 million to expand its market presence.
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Siliconangle
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Image Credit: Siliconangle
Urbint raises $35M to enhance disaster response tools for energy sector
- Urbint Inc. has raised $35 million in a strategic investment from S2G Ventures to enhance its disaster response tools for the energy sector.
- Urbint offers an AI-powered platform called Urbint for Storm Response, which helps utilities manage the entire storm and natural disaster response process.
- The platform enables utilities to identify threats and allocate resources in real time, improving safety and reliability.
- Urbint has raised a total of $144 million in funding to date, including previous investments from Energize Ventures, National Grid Partners, and Salesforce Ventures.
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Geek Wire
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Chatbot for HR: Google’s AI-focused venture fund invests in Seattle startup Cascade AI
- Cascade AI, a Seattle-based startup, has raised a $3.75 million seed round led by Gradient, Google's AI-focused venture fund.
- Cascade AI has developed an AI assistant to answer HR questions related to benefits, bonuses, leave, retirement, and more.
- The assistant automates over 50% of HR support operations, providing productivity gains for HR teams.
- Cascade AI is exploring ways to enhance the assistant's capabilities and serves organizations with more than 1,000 employees.
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4 Likes
Inc42
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299
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Go Digit Q2 Profit Jumps Over 3X YoY To INR 89 Cr
- Insurtech company Go Digit General Insurance reported a 221% increase in profit after tax (PAT) to INR 89.47 Cr in Q2 FY25.
- The total gross written premium (GWP) rose 14.2% to INR 2,368.57 Cr in the quarter.
- Go Digit's assets under management (AUM) grew by 17.4% to INR 18,502 Cr at the end of the quarter.
- The company sold 0.6 Cr policies to 6 Cr customers, with a market share of 3.3% in the insurance market.
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Yourstory
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365
Image Credit: Yourstory
Tiger Global-backed unicorn Apna’s revenue falls nearly a third, losses halved in FY24
- Apna, a Tiger Global-backed unicorn, reported a nearly 30% decline in operating revenue in FY24.
- The company managed to reduce its losses by over half and cut expenses by just over a third compared to the previous fiscal year.
- Apna's revenue is primarily generated from software development support services and recruitment solutions.
- The platform's narrowing losses can be attributed to reduced spending on employee benefits and advertising expenses.
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VIE Stories
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Image Credit: VIE Stories
OLOID Secures $6 Mn Series A1 Funding Led by Yaletown Partners, Others
- OLOID, a B2B SaaS platform for advanced physical identity and access, has raised $6 million in a Series A1 funding round.
- The funding round was led by Yaletown Partners, Exposition Ventures, George Kaiser Family Foundation, and Carya Ventures.
- The investment will be used to enhance engineering and product divisions in India and improve OLOID's touchless access control platform.
- OLOID aims to leverage India's talent pool to drive global initiatives and advance workplace access and identity management solutions.
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29 Likes
Eu-Startups
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EU-Startups Podcast | Episode 92: Diyala D’Aveni, Head of Vento
- Diyala D’Aveni is the Head of Vento, an Italian venture capital firm backed by Exor Ventures.
- Vento focuses on discovering exceptional founders and supporting them from pre-seed to pre-IPO.
- Diyala shares insights into personal growth, the mission of Vento, and the future of Italy’s startup ecosystem.
- The Italian startup ecosystem needs deep structural changes to catch up with other European countries.
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13 Likes
VIE Stories
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Image Credit: VIE Stories
How to Reduce PDF File Size on Mac?
- To reduce PDF file size on Mac, you can use Adobe Acrobat online services by selecting Compress PDF and saving the compressed file.
- Another method is to use the built-in ColorSync Utility in Mac to add a 'Reduce file size' filter to the PDF and export it with the custom filter.
- Mac Preview program also allows you to compress PDFs directly by choosing 'Reduce File Size' under the Quartz Filter in the Export option.
- Using trusted online compressors like Adobe Acrobat ensures content quality preservation and offers different compression levels for varied requirements.
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TechCrunch
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Vinted hits $5.4B valuation amid wave of secondary share sales in Europe
- Lithuania’s Vinted reaches $5.4 billion valuation after $367 million secondary share sale.
- The transaction was led by TPG and included new participants Baillie Gifford, FJ Labs, Hedosophia, Invus Opportunities, Manhattan Venture Partners, and Moore Strategic Ventures.
- Secondary market transactions are on the rise in Europe as scale-ups aim to provide liquidity for employees and investors amid a slow IPO market.
- Vinted, a second-hand fashion marketplace, has seen significant growth, expanding geographically and reporting record revenue growth of 61% in 2023.
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Startupreporter
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Kalki Ecosphere Launches Next Gen Impactpure, The World’s First Plug and Play Water Purifier
- Kalki Ecosphere has launched IMPACTPURE, the world's first plug-and-play water purifier.
- The compact and versatile purifier can be used in households as well as outdoors.
- It eliminates 99.9999% of bacteria, 99.99% of viruses, and other contaminants from water.
- The purifier also retains essential minerals and offers structured and pH balanced alkaline water.
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