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Tuesday, September 28, 2021

Category: Successful Startups

Tesla plans to create an energy trading division to support battery and power generation projects

US electric car maker Tesla is looking for employees for its Energy Trading division to support its battery and renewable energy projects, according to the company’s website and an employee posting on job site LinkedIn.com.

The company has expanded operations to include solar electricity for homes and large battery storage facilities and most recently applied to begin marketing electricity in Texas.

“I am putting together a new team at Tesla focused on energy trading and market operations,” Julian Lamy, who describes himself as a senior software optimization engineer at Tesla, wrote in a LinkedIn post this week. Tesla did not immediately respond to a request for comment.

The company plans to use an automated trading platform built by itself, called Autobidder, to “offer batteries in several wholesale energy markets,” according to a job description on Tesla’s website.

Tesla is seeking a senior energy analyst who will work from Palo Alto, California, Lamy wrote in his LinkedIn post.

Last month, Tesla Energy Ventures filed an application with the Texas Public Utilities Commission to become a retail electricity provider.

The Sawiris family leads funding round in the real estate startup Nawy

Egyptian real estate technology startup Nawy has secured a seven-figure seed funding, led by the Sawiris family office. With the participation of angel investors, including Hatem Dowidar, CEO of Etisalat Group.

Founded in 2016 by entrepreneurs Mohammed Abu Ghanima, Abdul Azim Othman, Ahmed Rafea, Ali Rafea, and Mostafa El-Beltagy, Nawy provides a real estate platform that allows users to browse thousands of properties and buy homes in closed residential communities.

This investment – whose value the company has not announced – is the first from outside investors, while the founders have pumped about $200,000 into the company over the past five years, according to co-founder Abdul-Azim Othman to Forbes Middle East.

Cooperation with the family office of the richest Egyptian family
While Nawy plans to use the new investment to enhance its technology, diversify its services, and expand its workforce across Egypt, it is also seeking to benefit from the joint collaboration with the Sawiris family.

Co-founder Abdulaziz Othman told Forbes Middle East: Of course we work closely with the family office to explore collaborations between Nawy and Ora Real Estate Development (affiliated with Naguib Sawiris). He continued: We plan to build a closer relationship and partnership, and we will achieve this through more cooperation, but it will not be in an “exclusive” form.

The Sawiris family is the richest family in Egypt, where Nassef Sawiris tops the Forbes ranking of Arab billionaires with a fortune of 9.1 billion dollars, while his brother Naguib has a fortune estimated at 3.1 billion dollars. Family members invest in many sectors, including construction, financial services, sports, and others.

The new investment comes at a time when Naguib Sawiris is focusing on the real estate sector through his company, Ora Real Estate Development, which designs and develops luxury properties in countries including Egypt, Cyprus, Pakistan, and London.

According to Onsi Naguib Sawiris, who leads the Sawiris family office, the field of real estate management technology PropTech is witnessing a rapid evolution of service offerings and how to provide integrated business models that can be implemented in Egypt.

big growth
Currently operating from two offices in New Cairo and 6th of October City, Nawy has seen a 30% year-over-year growth since its inception, and the total value of sales through the platform has reached $150 million, according to co-founder Abdulaziz Othman for Forbes Middle East.

The company explained in a statement that it has helped more than 30,000 people buy the right property over the past five years, and the emerging platform aims to achieve 300% growth in 2021 despite what it described as a “turbulent year in the real estate market.”

Regarding the company’s vision and purpose, Mostafa El-Beltagy, CEO of Nawy explained: There is a lot of time wasted when buying a home due to the lack of information and transparency, which creates anxiety among customers. He continued: Even traditional methods, such as increasing sales by phone calls, are making customers more skeptical than ever.

heated competition
There is intense competition between the platforms that allow the ability to search for real estate, including Aqarmap, Propertyfinder, Bayut, among many others.

Real estate technology start-ups are also raising significant investments in the Middle East and North Africa, where Saudi Gatherin, a platform for one-to-one vacation home rentals in the Kingdom, secured $6 million in financing last month, and Morocco’s Mubawab Group raised $10 million. In March, Egyptian Sakenin secured $1.1 million and RentUp secured less than $1 million in funding.

The UAE’s XPLOR and Stake also raised $3 million and $4 million respectively, while Dubai-based online mortgage platform Huspy secured initial funding, which it did not disclose.

Shares of Indian food delivery company Zomato jumps 80% on the first day of trading on the stock market

For more than a decade, Dependergoyal’s Zomato company has supplied delicacies from spicy crepes dosa to soft vegetable curry pav bhaji, to millions across India.

Now, investors will get a taste of the fast-growing food delivery giant. Shares of the startup surged more than 80% on their debut Friday, after a $1.3 billion initial public offering.

Zomato is one of the first generation of internet startups worth over $1 billion (unicorn) to tap into India’s capital markets and has generated a frenzy rarely seen in the local investment community.

Investors on Twitter have bragged about buying the startup’s shares, eager for the kind of returns that Facebook and Alibaba Holdings are making.

This is India’s largest initial public offering since March 2020 and has received bids from major investors about 35 times the shares it intends to sell.

The strong presence of food delivery companies
Zomato’s inclusion follows strong debuts in food delivery, including China’s Dash Door and Meituan.

It is the culmination of a 13-year journey for co-founder Joyal, 38. He and Pankaj Chada, who has since left, started Zomato as a delivery service in 2008 for their colleagues at Pine & Co.

Last week, Goyal tweeted about the stress of eating and installed an emoji on his Twitter account.

India Bubble
Zomato’s debut also comes buoyed by Chinese billionaire Jack Ma’s Ant Corporation, amid investor concerns that India’s markets are a bubble waiting to burst, and that valuations have outpaced fundamentals.

What dampens optimism about India is one of the world’s worst coronavirus outbreaks, which threatens to undo decades of economic gains.

Investors also have to deal with political risks, as Narendra Modi’s government clamps down on foreign retailers, social media giants, and streaming companies.

pizza moment
For others, the potential outweighs the downsides. With nearly half of India’s 1.3 billion people accessing the internet via smartphones, the bet on Zomato represents optimism that India’s tech startups could go the way of the United States or China, especially given that India’s internet infrastructure is not It is still emerging, and that consumers are accustomed to buying online.

The top 5 problems facing startups and how to solve them

Every company goes through ups and downs; So it is important to get to know what they have in common. Startups face unique challenges that arise from being young firms with fresh ideas, limited resources, and a small team.

The capital is insufficient
Capital is needed to ensure that the company can continue to operate. The majority of startups incur losses and rely on fundraising to stay afloat, bringing new capital into a company. This is uncertain as to “how much and when will it come?”

Unfortunately, we have seen many startups succumb to bankruptcy and loss due to poor financial management; So startups must maintain their cash flow and monitor their burn rate.

In order to plan to achieve a successful cash flow, the following must be followed:

Startups should take into account when the incoming and outgoing invoices are due.
To reduce the company’s expenses it must keep costs as low as possible.
Preferential price discounts should be availed of with specific service providers, including companies such as Intercom, AWS, and Segment, for early-stage startups.
If startups require specialized knowledge or training in specific areas, they can leverage their network to look for advisors instead of hiring one.


Startups can also use online resources, which are free or low-cost valuable resources; Where startup teams can learn more about running a startup.


Not having a suitable team in the startup
Among the limited resources a startup possesses, the team is one of its key components that will drive business success. Early employees in a startup determine business success, and not hiring the right people for the organization can be counterproductive and also hurt the company, including eroding company culture and employee morale.

Having the right team in place is essential for the business to grow. So startups must devise a recruitment strategy and understand employee needs.

A mess when growing too fast
Startups have to grow quickly, but some problems arise when they grow too quickly and their team develops; This leads to problems such as inconsistency and miscommunication across departments.

As startups grow, they must implement plans to facilitate business continuity. It is also important for startups to maintain a communication strategy that promotes open communication and transparency, and holding regular meetings is helpful in maintaining a regular flow of conversations within the companies.

Poor management and structure
Startups operate with minimal management and oversight than a larger company would, and plans often change automatically. And inefficient management of the corporate structure can lead to non-growth.

Business plans and strategy development are essential to getting startup teams to work towards a common goal. This sets the tone for structure, organization, and consistency. Set goals help employees make key decisions and carry out their work.

So; Startup teams should have the expertise to prioritize their work, and instead of trying to tackle everything they focus on the most impactful business first. Focus and organization can also help startups with time management.

Services That Can Help Your Business Thrive

One of the biggest mistakes small business owners make is thinking that the best way to push their business forward is to take control of every little thing. Although staying aware and on top of every facet of your business is wise, it’s important to find balance, delegate, and take advantage of business services. After all, passing work on to others puts you in a great position to conserve your time and energy for the parts of your business that need you most. 

That said, it’s important to find services you can trust to make a real difference for your business. Mecrofone has created this list of useful services that you can use to make life easier for you and your business. Let’s get started: 

LLC Formation 

If your business will take on any financial risk — including loans — you should consider forming a limited liability company, or LLC. This designation creates a layer of legal separation between your business assets and your personal assets. Although this does mean taking extra care to avoid using personal funds on business needs (and vice versa) it also protects your personal assets such as property and savings from litigation, debt collection, and more. 

That said, forming an LLC is a tedious process. It’s not especially challenging, but it can take a lot of time and low-level effort. This is, for business owners, as bad a time investment as it can get. It doesn’t make use of your talents, and it takes up energy you could put toward more challenging work. Hiring a formation service can help you get this work knocked out and conserve your time for the important stuff. 

Project Management 

Another major hurdle many business owners face is figuring out how to keep track of all the work they need to do to keep their company moving forward. After all, running a business is multifaceted work, and many business owners have never had to keep so many projects organized at once. That’s where project management services can come in handy. 

Project management can help you keep your tasks in order so you can easily figure out what needs to be done and when. There are several approaches you can take to project management services. You can use a Software as a Service tool to help you create checklists, group tasks into projects, and organize your tasks on a calendar. This is a great option for people who just need a little bit of structure to get their schedules together. 

If you need a little bit more help, or just want an extra mind on your work, you can look into hiring an assistant. Someone who has task management experience can be an extremely useful asset when it comes to keeping your business on track. They can do the work of keeping your schedule, noting upcoming deadlines, and tracking progress on different projects. This way you can focus your energy on the work itself. 

Cloud Storage 

Finally, every company should have some sort of cloud storage service to keep their data safe, secure, and accessible. In our ever-connected age, being able to easily access the info you need to run your business is invaluable. Cloud data storage allows you to access info, no matter where you are, from any device. It can also make it easier to share documents and information when needed. 

On the flip side, cloud storage is also a great security tool (as long as you go with a trustworthy company). Your data will be securely stored and encrypted so that only the people who should access it can. This is especially useful for storing backups and keeping your data safe from mistakes and malicious attacks alike. 

These services are all tailored to make your job as a business owner easier and more effective. We hope that we help you discover the service that helps you create the future you want for your business! 

Looking for more business news? Take a look at Mecrofone’s recent posts

Photo Credit: Pexels

Delivery services .. Success applications for pioneers projects

It is no longer a secret for entrepreneurs that the emerging Corona crisis “Covid 19” has contributed in one way or another to change the parameters of trade around the world, and there is a clear trend towards various delivery services that are considered a profitable project that can be established at the lowest costs.

In light of the continuing repercussions of the crisis, Internet delivery services alone are expected to grow by more than $ 104 billion by 2023.

The “Entrepreneurs” website has previously provided feasibility studies for this project, as well as presented it as a potential profit idea. You can offer delivery services by providing your own local courier service to deliver groceries, medicines, or other essential tasks, and set additional fees for longer deliveries, express orders, or delivery of heavy or bulky items.

Jewelry industry project. What are its most prominent features?

The idea of ​​providing delivery services is to establish a specialized office to deliver orders to homes, companies, offices, and others within a short period of time. You can also rely on creating an electronic application that helps you reach your goals, whether to make profits or reach the largest possible segment of the audience, bearing in mind that this project does not target a specific age group, but rather is directed to the whole world.

The success of delivery services
The success of your provision of delivery services may depend on the strength of the plans and strategies put in place before implementation; Where the project requires high skill to attract more clients and customers.

Thus, you can make a list of all customers that you can deliver orders to, as they may be individuals from the same city in which the project headquarters are located or neighboring cities. And do not forget that your services will influence customer decisions during the post-Coronavirus phase; That is, your work will continue to work if you master it.

SoftBank is preparing to win 16 billion dollars from the Korean “Kupang” offering

SoftBank Group, the largest shareholder in Kupang, is preparing to reap huge profits from the IPO of the South Korean e-commerce company this week, giving Masayoshi Son more evidence that his bets on the often criticized startups are paying off. .

SoftBank owns about 35% of the startup and may announce gains of up to $ 16 billion, after Kubang raised its IPO target price range to the public.

These will be the largest profits ever recorded from SoftBank’s investment in a startup in one quarter, since it began announcing its results in 2017.

Sun was criticized for his mistakes in supporting nascent companies, including “WeWork” and, more recently, “Greensel Capital”, but the South Korean startup added to a series of successes that compensated for those losses, and pushed his fund “Vision” to achieve record profits in The last two quarters.

If Kubang succeeds in its initial public offering, SoftBank’s profit could exceed the $ 11 billion it made from the Doordash offering in December.

Great win for “Massa”
Justin Tang, director of Asian research at United First Partners in Singapore, said: “In many ways, this is a great win for Masa, because he has true to his method of throwing all his weight to score big points, yet supporting Greensel is a resounding mistake. “.

Kubang and its bankers raised the offering price range on Tuesday in a sign of strong demand for shares. The startup, located in Seoul, is currently seeking to raise $ 4.08 billion, offering 120 million shares at a price ranging from $ 32 to $ 34 per share, and at the upper end of this range , The company’s valuation could be as high as $ 58 billion.

Masayoshi Son

The US Market Awaits “Kubang”
The IPO will be one of the largest by an Asian company on the American stock exchange, and the largest since the $ 25 billion bid by Alibaba Group in 2014, as well as Sun’s biggest success so far.

Anthia Lai, an analyst at Bloomberg Intelligence, said, “For SoftBank, it is unlikely that Kubang will be just an investment to make quick cash and exit, and given its position in the South Korean market and its position in SoftBank’s overall portfolio,” An investment that will last for some time. “

Egyptian Salary Advance Fintech NowPay Signs MoU with Export Development Bank of Egypt

solutions, has entered into an MoU with the Export Development Bank of Egypt (EBE).

Established in 2019, NowPay has been launched to help reduce workers’ financial stress by improving the key pillars of financial wellness for employees: saving, spending, budgeting, and borrowing.

Per the terms of the MoU, EBE will offer a credit facility to finance NowPay’s current salary advances product and will also cover the development of other products.

The MoU has been signed as EBE continues to focus on enabling greater financial inclusion in Egypt by working with innovative startups.

Gehan Fathi, Head of Financial Partnerships at NowPay, stated:

“We believe that the cooperation with Export Development Bank of Egypt will assist in growing our current business model in addition to offering more innovative fintech products to users.”

Indonesian “Traveloka” plans to be listed in America through “Blank Check” company

Traveloka, the largest online travel startup in Southeast Asia, plans to list in the US this year to raise funds using a Special Purpose Acquisition (SPAC), or otherwise known as “blank check” companies, according to its CEO. Over fairy unardy. “

“Special purpose buyouts are very efficient in terms of timing, and for a growing company like us,” Onardi said in an interview with Bloomberg TV on Tuesday.

He explained that the company may consider listing on the Indonesia Stock Exchange at a later stage.

It was reported that Traveloka had hired JPMorgan Chase & Co. to implement the listing in the United States.

This listing could benefit from the boom in the IPO market, boosted by special purpose acquisition companies that use funds raised from their IPOs to purchase a private company that then takes on the listing.

Enhancing company valuation
Investors helped, including Expedia Group Inc, Rocket Internet SE, Singapore Sovereign Fund (GIC Pte), and JD.com. .com) in enhancing Traveloka’s evaluation over the years. It was worth $ 3 billion in 2017, according to CB Insights.

Traveloka has been headquartered in Jakarta since its inception in 2012 and has expanded across the countries of Southeast Asia, making it easier for consumers to book flights and hotels across the region.

Like its competitors, the company has since gone beyond its core activities to offer a wide range of services, from lifestyle to financial services.

With the repercussions of the Corona epidemic that hit the travel sector around the world, it was said that Traveloka was about to raise funds last July with a lower rating than previous rounds of financing. It has also cut an unknown number of jobs since the outbreak began, including about 80 jobs in Singapore last April.

“The travel business at Traveloka has already returned to profit with looser restrictions (on travel),” Onardi said.

JP Morgan prepares to take over IPOs of Asian technology companies

The JP Morgan Asset Management Fund, which has doubled its assets over the past year, has placed the booming underwriting market for Asian technology companies as its top investment priority in 2021.

JP Morgan director Oliver Cox said that the IPOs of Asian technology companies this year will provide an opportunity for early investment in “future winners for several years to come,” as his team closely monitors potential deals, including: “JD Logistics” and the application Doyon is owned by Bitdance in the Hong Kong Stock Exchange and Philip Kart Online Service in India.

The fund manager believes that programming and e-commerce companies, the leading electronic chip makers, and entertainment games will become the “best four sectors” in the fields of technology from the next five to ten years.

The performance of the fund, which has total assets of $ 1.1 billion, has increased 16% since the start of the year.

The JPMorgan Chase & Co. World headquarters are pictured on April 17, 2019 in New York City. (Photo by Johannes EISELE / AFP) (Photo credit should read JOHANNES EISELE/AFP via Getty Images)

A profitable strategy
The strategy of investing in the initial public offerings of Asian technology companies achieved a distinguished return, amid the adoption of huge stimulus packages to reduce the repercussions of the pandemic, which led to a significant increase in individuals’ investments in the financial markets, and the boom in domestic activities due to the closure measures.

And the value of the shares of “JD Health International” has doubled since its listing on the Hong Kong Stock Exchange in early December, and the share of “Kwaishu”, a competitor of “Doion”, has more than tripled since the company was listed last Friday.

The share of “Dada Nexus” of the delivery platform operator in China, supported by “JD.com”, is the largest holdings of the fund managed by Cox, and the share has risen 178% since its listing last June. Among the remaining major holdings of the fund, the “Mituan” company In addition to “Taiwan” semiconductor manufacturing company, “Nintendo”.

Cox said that the Corona pandemic has led to radical changes in the behavioral patterns of individuals amid increasing the dependence of many individuals and companies on cloud technology and e-commerce, indicating that he is not afraid of the change in the performance of some stocks as a result of being affected by economic cycles after the large gains recorded by the shares of technology companies in Recently.

Cox added, “A lot of people focus on whether that sudden performance will last longer, or only a year.” Stressing that reliance on digital platforms in the long term will be “much stronger, which will be reflected in the profits of these companies during the current and next years.”

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