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Mobile World Congress 2020

Amazon and Sony denied participation in Mobile World Congress 2020 due to Coronavirus Outbreak

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Highlights

Mobile World Congress 2020 is the biggest mobile technology trade show, scheduled on 24-27 Feb in Barcelona, Spain.

Earlier, Nvidia, LG, ZTE, and Ericsson have already step back from the event. Now, Amazon and Sony pull out of 2020 Mobile Congress.

These companies cancel their presence due to Global Emergency i.e. Coronavirus outbreak all over the world.

Mobile World Congress 2020

Mobile World Congress 2020 will be taking place this month in between 24-27 Feb. However, this year the MWC is organized in Barcelona, Spain. In fact, it is the world’s largest exhibition for the mobile industry, organized by the GSM Association. It is also famous for conferences held by prominent executives of the mobile industry.  

Why Sony and Amazon step back from the Event?

Earlier, LG, ZTE, Ericsson, and Nvidia already step back from the various events at Mobile World Congress. However, Sony and Amazon also set their name on the list of companies to denied participating in the event. It is said that the Coronavirus outbreak is the reason behind this. 

Recently, Sony posted on its website, “Sony has been closely monitoring the evolving situation following the novel coronavirus outbreak, which was declared a global emergency by the World Health Organization on January 30th, 2020”. Also, it added, “As we place the utmost importance on the safety and wellbeing of our customers, partners, media, and employees, we have taken the difficult decision to withdraw from exhibiting and participating at MWC 2020 in Barcelona, Spain”.

Amazon higher authorities reported that “Due to the outbreak and continued concerns about novel coronavirus, Amazon will withdraw from exhibiting and participating in Mobile World Congress 2020, scheduled for Feb. 24-27 in Barcelona, Spain”.

Previous History of Amazon and Sony at Mobile World Congress

As we see back, Sony often uses MWC as a platform to showcase its most important mobile devices. In fact, last year, Sony revealed its Xperia 1 flagship phone at the show. “But this year, we will instead make its announcements online through its Xperia YouTube channel”, said Sony. 

However, Amazon has not visited the event that often in history; neither presented its devices at MWC. 

Coronavirus Safety Measures at MWC

Yesterday, the GSM Association, which organizes MWC reported about the steps to be taken to avoid the spread of the coronavirus further. “No travelers from China’s Hubei province, where the outbreak began, will be permitted access to the event, while anyone who’s visited other regions of China will need to prove that they have been out of the country for 14 days beforehand”, said GSM Association. Further, it added, “With MWC set to start in two weeks today, that is likely to complicate the plans of several Chinese companies that were planning to attend”.

Kiichiro-Toyoda

Kiichiro Toyoda: Journey To Transform Family Business Into An Automobile Manufacturing Company

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Whenever someone wants to buy a car, few names of famous automobile companies come into mind and Toyota is some of them. A Japanese multinational automotive firm Toyota is considered as tenth largest firm on earth by revenue. As of 2018, it was also the second-largest automobile producers worldwide. In fact, it is a pioneer to manufacture over 10 Million vehicles/Year. Toyota also reported the production of its 200 Millionth Vehicle in 2012. Also, in 2014, it was Japan’s largest listed firm by revenue and market capitalization. 

Kiichiro Toyoda set up the firm after he got inspiration from father. Kiichiro always wanted to chase his dream to manufacture an automobile. But that time, he was considering it as a risk to the family profession. Finally, in 1937 he formed Toyota, an automobile firm in Japan. Kiichiro’s colleagues often mentioned him as a “Japan’s Thomas Edison”.

Glimpse to Founder Life

Early life

He was born on 11 June 1894 in Japan at Aichi Prefecture. His father Sakichi was a well-known businessman. As well, Toyoda Automatic Loom Works’ founder. After his father’s death, Kiichiro’s brother became head of the Loom works business. However, Kiichiro always wanted to chase his dream to set up an automobile manufacturing unit. Thus, he persuaded his brother to invest in the expansion of the family business into an idea of automobiles division. 

Backstory

The family background of Kiichiro was strong enough to support his idea of perusing the automobile business. In fact, the Toyoda family had experienced inventing steam, electric looms, and oil. Also, his father was known to the fact that his son would solidify the mechanical prowess the family had in history. So, he encouraged his son to follow his dream. Finally, the decision of Kiichiro changes the family business’s automatic loom manufacture unit to the automobile manufacturing unit by setting firm in 1937. 

Later Life 

He devoted his whole life to building a strong foundation for the company. It was not an easy journey to transform the structure of the family business. Obviously, he had financial support from the family business. But one needs a belief and strong will to take the risk to alter the business. In 1950, Kiichiro resigned after serving for a long time. However, he died just two years after his resignation in 1952. Unfortunately, he would never know the success that would come to him. Even after a huge loss, the company thrived impeccably.

Achievements

Toyota Motor Corp. introduced the compact Corolla Model in 1966. However, it became the best-selling car in the world as of 1997. In fact, over 35 million models were sold at that time. Also, Toyota focused on developing fuel-efficient models, which later became the center of attraction in America. Additionally, the firm also launched the 4Runner sport utility vehicle as well as Camry compact car. In 1989, the company launched the luxury car Lexus. As of 2001, the company introduced the first-ever mass-produced hybrid vehicle all over the world. However, this vehicle called Prius was introduced in Japan in 1997. Furthermore, the had produced over 100 million vehicles in Japan by the end of the 1990s. 

Later successes 

After Kiichiro’s death, his cousin Eiji Toyoda served to flourish it further. He builds the Kiichiro’s successful expansion into a world-class conglomeration of engineering. Also, he assists in the launch of the most prominent luxury brand in Japan. Today, it is one of the leading automobile manufacturers universally. In the year 2018, Toyota was also the second-largest automobile manufacturer on the earth. Also, the firm set the record to manufacture over 10 Million vehicles/Year.

Liu Qiangdong

Liu Qiangdong: The Journey of jd.Com Founder To Set One Of The Largest Chinese E-Commerce Company

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Today, JD.Com is the famous and largest Chinese enterprise. Also, for delivery services the company boasts the largest fleet of drones. It also provides a wide range of quality products and the best customer service. In fact, it acquired 300+ million active customers. Liu Qiangdong set up the JD.com with his extraordinary vision in mind. However, in a very short period, it became one of the successful companies in China. Presently, the company aims to grow the business into Europe, Southeast Asia, and other regions of the world.

Liu Qiangdong

A Chinese entrepreneur and businessman, Mr. Liu Qiangdong is well-known for business skills. JD.com is the e-commerce venture of Liu. The company is also known as Jingdong Mall, China’s well-known e-commerce industry. Liu holds the net worth of USD 12.7 billion approximately.

Early life

He was born in China, either on 14 Feb 1974 or 10 March 1973. The parents of Liu were in the business of Coal-shipping. However, he spent most of the time at hometown, where he completed his formal education. Liu attended the people’s University of China for a bachelor’s degree in Sociology. At his young age, the Internet was just breaking the eggshell. But still, he was busy in learning programming, exploring the internet. As well, he discovered the e-commerce landscape very soon.

Career and Earlier businesses

During college, Liu started a restaurant venture. That time, he invested the income that he earned from programming also took loans from the family. But unfortunately, the business was unsuccessful. After his education, he served at Herbal supplement Giant Japan life. Soon, he became the director of the computer and service there.

The Backstory of JD.com Foundation

Eventually, he plunged into entrepreneurship with his innovative idea in 1998. He started the business by renting a small retail space located in the tech hub of China. It was the magneto-optical product distributor. However, he discovered that an e-commerce platform has much potential than physical retail stores. That time, the e-commerce platform was thriving, fortunately, which favored and encouraged his idea. So, he executes his idea and starts the E-commerce company called Jingdong. Afterward, it renamed as JD.Com. The initial J and D stands for JingDong.

One thing is very admirable that Liu always focuses on customer satisfaction, throughout his journey. In fact, the company uses advanced technology to offer a seamless user experience.

Achievements at JD.Com

The company soon flourished as the fastest growing E-commerce firm in China. Initially, the company JingDong was in the business of brick-mortar sales. But in 2005, after gaining online customers, Liu stopped those stores. In 2005, Liu had an offer in hand to sell his company for big money, almost 18 Million Yuan. However, he rejected the offer and focused on improvising the business. He included a wide range of goods in 2007. Earlier, the company was limited to selling consumer electronics.

Today, Liu Quiangdong has fame in the business world. Also, he has been compared to Amazon’s founder, Jeff Bezos. However, JD.Com is a tough competitor of Amazon.

Personal life

The company JingDong is named after Liu and his ex-girlfriend Gong Xiaojing. He has a son, but the mother is anonymous. However, in 2015, he married Zhang Zetian. She is an Internet celebrity popular as “Sister Milk Tea”. The couple has one daughter. Also, he was suspected in some controversy related to Criminal Sexual Conduct. Later, no evidence found against him and he released and did not face charges.

In 2008, he volunteered as a part of the Red cross. Basically, for helping the victims of the Sichuan Earthquake.

Bottom Line

JD.Com, the tiny enterprise founded by Liu Qiangdong has flourished in a very short period. In 2014, it was the Largest IPO as of its NASDAQ public listing. Today, the company is the result of business skills and the Future tech perspective of Liu. However, one thing is very admirable that Liu always gave top priority to customer satisfaction throughout thriving the business.

mu-sigma

Mu Sigma A Million Dollar company that is a product of Dhiraj Rajaram’s Million-dollar idea

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All know that μ and σ have significant importance in engineering as well as mathematical analytics. Similarly, Mu Sigma has significant importance in the data analytics industry. An Indian firm, specifically a consulting organization in management is a leading data analytics service provider. Also, it recognized as one of the fastest-growing businesses on the planet. In the periods of 9 years, the company successfully raised $ 163 million in funding. It is set up by Dhiraj C Rajaram and headquartered in Chicago, Illinois. As well, Mu Sigma’s global delivery center is located in Bangalore.

The Backstory of foundation

Dhiraj C Rajaram founded it in 2004. However, how Rajaram ventured to invest more than 80% of his personal saving to set up Mu Sigma has its own story. Before starting the company, he had worked as a strategy consultant with many firms. Such as Pricewaterhouse Coopers, etc. No one will believe that the founder had no intention to start a business. Yes, what Dhiraj wanted is to learn continually at every stage of life. But fate must have some different plan for Dhiraj. In the end, his everlasting desire to learn manifested itself into a successful business venture.

Though his intention was not to step into entrepreneurship, Dhiraj always had faith that innovation in business is nothing but a chance. As a born learner, Dhiraj was also known to the fact that experimentations are the best chance to innovate better. Finally, with all these facts and strong belief he set up Mu Sigma back in 2004.

Dhiraj Rajaram- The person Behind Mu Sigma establishment

He is also a present CEO and chairman of the firm. However, the firm is born out of curiosity and the eternal desire of Dhiraj to learn new things. Presently, its a leading analytics and decision science service provider across the world.

Early Life

He is born in 1975 in Chennai, India. However, he spent most of the childhood in Bengaluru where he brought up. Furthermore, he attended the college of engineering, Guindy to study Electrical Engineering. After that, he perused M.S. from Wayne State University Michigan in computer engineering. Also, he went to Booth School of Business University, Chicago for an MBA. Thereafter, he worked as a management consultant in the US and India. 

How he enters into entrepreneurship?

It all starts after Dhiraj quit his big-money job. As said earlier, he had no intention to start a business. But his hunger to learn new things made him do so. In 2004, he then set up Mu Sigma a data analytics company in Bengaluru. Presently, the company provides service to 125+ companies that are the Fortune 500 firms. Also, the Fortune mentions it as Unicorn Category in 2016. As a matter of fact, this category has given to any company when it valued at more than 1B US dollar. 

Personal life

At the age of 21, he married college friend Ambiga. The couple has one son named Akash. However, they split in 2016, after that he took the position of CEO at Mu Sigma. Earlier, his wife held that position for a long time. 

Dhiraj Rajaram’s Awards and Achievements

In 2013 and 2011, Dhiraj was listed in the 40 under 40 list of Fortune Magazine. Also, he honored as Entrepreneur of the Year India by Ernst and Young India. He also won Young Turk Award in 2014 at CNBC TV18 business leaders awards.

Mu Sigma- Awards and Recognition 

In 2012, the company ranked 907 in the Inc. 5000 list of Americas’ fastest-growing private companies. Also, the company’s rank was 386 and 204 in 2011 and 2010 respectively. Though the company’s beginning was humble, today it is a million-dollar firm. However, it holds a unique distinction as a business analytics company to secure the largest funding round ever. But it must be remembered that the million-dollar company is the product of belief and the million-dollar idea of extremely curious Mr. Dhiraj Rajaram.

Dunzo

Dunzo: The product of Kabeer Biswas’s idea of earning money by saving people’s time

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In this busy world, people always prefer time-saving strategies to spend quality time with loved ones. Sometimes, it is hectic to go outside and stuck into the traffic to buying groceries and other items on holiday. So, here’s an option to leave these tasks to Dunzo. With Dunzo, many things are possible. Like starting from the ordering grocery to delivering food, taking your clothes to laundry or getting your watch repaired. Basically, it is a hyperlocal delivery start-up that saves people’s time by doing their task as mentioned above. However, the company offers some charges per order. But still, Dunzo acquired the trusted customer. Though there are many options for free delivery services. In 2015, Kabeer Biswas founded it. Last year, Google-funded 12 Million dollars to the company. Also, it marked the first internet giant’s first-ever direct investment start-up which is homegrown. 

What is Dunzo?

Dunzo is a Bengaluru based delivery start-up. Kabeer Biswas, a young entrepreneur, and engineer establish it in 2015. Due to its horizontal delivery platform, it became favorable amongst working plus non-working residents in the city. With minimal charges, the delivery persons at Dunzo are helping to save people’s time by performing their tasks. 

Glimpse to founder life

Kabeer Biswas, an entrepreneur, and mastermind behind makes living by saving time of people. He is the founder of Dunzo, a Bengaluru based delivery start-up company. Let’s see the Biswas’s journey to set up Dunzo.

Education and Career

Kabeer is a Mumbai University graduate in the field of engineering. After that, he went to Mumbai’s Narsee Monjee Institute of Management. Thereafter, he worked at Airtel for three years. Next, he focused on his deal’s discovery company Hopper from 2011-2014. Sooner or later, Hike messenger acquired this start-up. 

The backstory of Dunzo foundation

This whole story starts after Kabeer had shifted to Bengaluru. That time, he explored the city for about six months. During this period, the idea of a hyperlocal delivery start-up pop into his mind. In January 2015, he set up Dunzo. Soon, he started the execution by delivering food, picking up groceries, and getting clock repaired. Earlier, he managed to do it himself, but as demands increased, he hired few delivery boys. In a very short period, Dunzo gain trust in the market. In fact, by the 2015 end, they have completed over 75 tasks/day. 

Evolution in Dunzo

Previously, Dunzo was a WhatsApp-based service. After rising demand, the company successfully launched a Dunzo app in February 2016. Also, it attained the AI-based concierge platform Wingman to bolster technology. Plus, Dunzo made a partnership with neighborhood stores to scale up delivery. Which also helped to set up a piece of robust local commerce machinery.

Services offered

The company offered quality service but there are no free deliveries at Dunzo. Still, many customers preferred Dunzo over free delivery services. Presently, it offers three types of services. Includes, purchase, pick up and drop, and repair and transactions. Basically, provides a horizontal platform for hyperlocal deliveries. Also, the company will enter the bike taxi business soon. 

Currently, it provides delivery services in cities like Bengaluru, Delhi, and Gurgaon. Also, in Noida, Chennai, Pune, Mumbai as well as Hyderabad.

Successes of Dunzo  

As mentioned earlier, the company not offered free delivery services. But still, it made its place among the list of rising hyperlocal delivery start-ups. In fact, it successfully generates a monthly revenue of about 1 crore. Also, the company’s per customer repeat purchases has been increased. Also, the company successfully scaled-up its delivery time. It has dropped to about 45 minutes which was more than 75 minutes earlier. In addition, the company also started a Bike Taxi service in Gurgaon.

Recently, Google the internet search giant company helped in fundraised to the company. Which can be considered as one more step to explore the business in the country

digit Insurance Logo

Digit Insurance Becomes Asia’s General Insurance Company Of The Year In 2019

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Digit Insurance is a general insurance company where one gets any type of insurance done under the same roof. Kamesh Goyal founded the company in 2016 and it received a license in 2017.

Insurance becomes a very vital part of our life when future planning comes into play. Medical insurance, car insurance, home insurance and whatnot. Insurance plays a key role in our present and future lives which cannot be ignored. Our well-being partly depends on proper insurance.

We often tend to make different insurance from different sources. And, most of the time we just listen to some of our relatives and go to the same company. But, a decision which is as vital as insurance should be a properly thought decision. And, moreover wouldn’t it be so much better if one single company providing you with all kinds of insurance?

Digit Insurance is a general insurance company where one gets any type of insurance done under the same roof. Kamesh Goyal founded the company in 2016 and it received a license in 2017.

Kamesh graduated with a B.Sc degree from St. Stephen’s College, Delhi. He also studied law from Delhi University and then pursued his MBA under the same. His first job was at The New India Assurance Co. Ltd. where he worked for nine years.

About the Founder

Kamesh also worked at the Allianz India Liaison office and served as both the CEO and COO of Bajaj Allianz General Insurance. He also served in many positions at Allianz Asset Management. And, in 2016 he finally executed his plan of Digit Insurance.

The Beginning

Kamesh had good experience in the sector of insurance. He worked for different companies and in different prestigious positions for more than twenty years. One important thing that Kamesh noticed during this time is the communication gap is very vivid between the company and the customer.

The insurance sector has made significant development in the past seventeen years. But, only 29% of the total customers are satisfied with the services provided and the terms of the insurance. So, until and unless the company understands the needs and demands of their customers, they cannot come up with something fruitful. This sense of miscommunication drives Kamesh to establish a company providing what is necessary and basic.

Strategies

No matter what field one chooses today, high tech is always a pre-requisite. So, Digit Insurance from the very beginning decided to invest in technology.

When Kamesh established Digit, Fairfax Group saw a huge opportunity and potential in this company. So, they bought 45% stake in the company for 350 crores. This became the highest amount received by a start-up in the insurance sector.

Kamesh decided to offer every kind of insurance to his customers. For motor insurance, Digit collaborated with 250 strategic partners with increased over the years. One way to be on track without competitors is tying up with them. So, Digit also came in partnership with Paytm and Amazon.

A good start

Insurance is a sector which is in demand for every class of people. So, once the company starts making money, good policies and good terms can keep you on track. Within four months of launching, Digit Insurance landed 1.5 lakh customers and 100 crores in pocket.

Funding

In July 2018, the company raised $44 million in the second round of funding. This summed up the total funding raised by Digit Insurance to $94 million.

In 2020, the company raised $84 million from A91, Faering, and TVS Capital. The company which is just two years old is doing absolutely brilliant. The last funding has led Digit’s total fundraising to $224 million. Digit currently serves more than five million customers with extremely diversified categories of insurance.

Success

In 2019, Digit bagged the award of Asia’s General Insurance Company of the year 2019. The customer rating is highly lucrative and impressive. Digit Insurance has also been listed in India’s top two start-ups for consecutive two years. And, it is the only Indian insurance company to be listed in the Global Fintech List. It is absolutely remarkable to witness a young company growing so fast.

Since Digit focuses on the implementation of technology from the first, they are using AI and ML-based tools to prevent fraud. Because, for an insurance company, fraud is the biggest threat. They are experimenting with new tools now but this is going to be very effective in the long run.