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Tuesday, May 18, 2021

Category: Successful Startups

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.”

Co-founder of Bumble becomes the world’s youngest billionaire thanks to the IPO

Whitney Wolf-Heard ended Thursday with a net worth of $ 1.5 billion according to Bumble’s stock closing at $ 70.31 Updated at 7 p.m. ET.

The initial public offering
The stock price of Bumble Dating rose in its first public offering on Thursday, making the founder and CEO of 31-year-old Whitney Wolf-Heard the youngest self-made billionaire in the world. Its 12% stake in the company was valued at nearly $ 1.6 billion as of 12:40 p.m. ET Thursday.
Bumble Corporation’s stock opened trading at $ 76 a share, which is well above the IPO price of $ 43 a share. The company began its first trading hours after the markets opened on Thursday.

Wolfheard owns 21.54 million shares in Bumble, equivalent to 11.6% of the company, according to the Bumble IPO prospectus. Wolf-Heard is also the youngest CEO ever to lead a company in the United States to go public.
Bumble is the second major dating app to go public, after the public offering of Match Group, the parent company of Match.com, in 2015. The Match Group attempted to buy the company from Wolf Heard in 2017 for $ 450 million. Bumble’s market cap was at $ 8.6 billion based on $ 76 a share early Thursday afternoon. Match group has a market value of $ 45 billion, which also owns the dating app Tinder.

Bumble recorded revenues of $ 417 million in the first nine months of 2020, up from $ 363 million in revenue for the corresponding period in 2019. The Match Group recorded revenues of $ 1.7 billion in the first nine months of 2020 versus 1.5 billion. Dollars in the same period of the previous year. The Austin company raised $ 2.2 billion from its IPO. The company will use most of the money raised to buy or redeem shares from the company’s owners prior to the IPO, especially Blackstone Private Equity, which owned about 91% of the company prior to the offering, and Wolf Heard. The prospectus also shows a $ 120 million loan, which the company provided to Wolf Heard in January 2020, which was settled a year later in exchange for Wolf-Heard ceding $ 95.5 million of Bumble’s shares.


Bumble app
Wolf-Heard founded Bumble in 2014, shortly after she filed a lawsuit against Tinder, her former employer, for sexual harassment. Wolf-Heard in the lawsuit alleged that her former boss and boyfriend, Justin Mattin, had sent her threats and derogatory texts and stripped her of the title of the co-founder of the Tinder app. The app denied any wrongdoing, and the case was settled quickly and discreetly.

After leaving Tinder, Wolf-Heard worked with the London-based Russian billionaire Andrei Andreev, who was building successful online dating apps to work in the European and Latin American markets, to start the Bumble app. Bumble gives women the exclusive power to take the first step, a factor that sets it apart from Tinder and other online dating apps.


Andreev exited his investment in the company in November 2019, four months after Forbes published an investigation that discovered an anti-women atmosphere in the London office, led by Andreev, to put his presence in conflict with the app’s slogan on empowering women.
The company denied the majority of the allegations and launched an internal investigation led by British law firm Doyle Clayton, which concluded that “the main allegation made by the Forbes article that there is currently an anti-women atmosphere in the London office is untrue. However, the investigation identified a small number of current and former employees Who feel that there are “sexist elements” in the company.

Kitopi cloud kitchen services company begins its activities in Jeddah

Dubai-based startup Kitopi announced that it will expand its business in Jeddah, Saudi Arabia, starting this week, nearly a year after it raised $ 60 million in funding in the second funding round.
Jeddah will be the second city in which the platform has operated in the Kingdom after running successful operations in Riyadh.

Kitopi enables restaurants to open locations that are restricted to delivery services, by providing the necessary infrastructure and software with minimal capital overhead and time / as well as taking care of the entire customer experience journey: receiving and processing orders, cooking, deliveries, and managing customer feedback.

A renewed focus
The technology company currently operates more than seven kitchens in Riyadh and plans to open more than five kitchens in Jeddah by the end of the third quarter of 2021.
Kitopi also announced its willingness to develop alliances in the field of food, beverages, and restaurants with partners operating in the business center in the Red Sea region, providing them with the ability to expand outside the borders in less than two weeks.

The company leverages smart kitchen operation technology (SKOS), a kitchen operating system based on cloud computing, to help implement end-to-end ordering experience and improve customer experience.
With SKOS, Kitopi is able to deliver an order in less than 35 minutes, from the time the order is placed until the time the customer receives it.
The company intends to intensify the employment of more Saudi citizens across its operations in line with the Kingdom’s Vision 2030, with a focus on employing more women.
The company has raised $ 120 million since its founding in 2018, from multiple investors, including Knollwood and Lumia Capital.

Important market
“We are excited to work in Saudi Arabia, which we consider an important market for us, and we look forward to partnering with restaurants in Qatar, Bahrain, and Southeast Asia later this year,” the startup revealed in a statement.
The founder and CEO of the company, Mohamed Ballout, said in an interview quoted by Bloomberg that the startup is preparing to make a profit “this year, sometime very soon.”
Global Cloud Kitchen Marketplace
Projections indicate that the global cloud kitchen market will reach $ 2.63 billion by 2026, at a compound annual growth rate of 17.2%, compared to about $ 650 million in 2018, supported by a rise in online food delivery applications, and the increasing use of mobile phones and smartphones for food orders. According to the US market research and consulting firm Reports and Data.

Kitopi currently has more than 1,200 employees, with headquarters in Dubai and New York, with offices in the United Kingdom, Saudi Arabia, and Kuwait. Kitopi operates 30 kitchens in five countries and has partnered with more than 100 restaurants, including world-famous brands like Operation Falafel, Pizza Express, Right Bite, and UNDER500, to name a few. Through its partnership with Kitopi, UNDER500 was able to “double its revenue year-on-year and expand its reach to operate internationally”.

Nigerian fintech Mono is taking $125k from Y Combinator after a $500k pre-seed round

American startup accelerator Y Combinator (YC) will have 36 startups participating in its winter 2021 programme. One of the African startups in the group is Mono, a Nigerian fintech building APIs for open banking and simplified financial accounts management.

Mono was founded by Abdulhamid Hassan and Prakhar Singh. They launched the company in August 2020 and a month later, closed a pre-seed round of $500,000. Lateral Capital, Rally Cap Ventures, Golden Palm Investment, and Ventures Platform invested in that round.

They started Mono to give these businesses tools to access customer bank accounts, obtain statements, and set up recurring payments through direct debit. They list Carbon and Flutterwave among their current users and plan to extend their presence beyond Nigeria to Ghana and Kenya.

Mono joins a list of at least 22 Nigerian startups like Paystack, BuyCoins, 54Gene, and Kobo360 who have participated in previous batches of YC’s famed program.

“Quisho” is turning into a gigantic entity .. Learn about the largest technology offering since “Uber” in numbers

The IPO supports Kuaishou Technology, the operator of the Hong Kong Stock Exchange’s short video social media app, outpacing its rival, ByteDance, albeit for a short period of time.

Today, Friday, the shares of the company, which has the second largest application in terms of the number of users in China, began trading, which is comparable to the local version of the world famous “TikTok” application owned by “ByteDance”, known as “Duane”.

The company’s IPO recorded record numbers in light of the great turnout of individual investors to buy the share, and in terms of the total value of the subscription, as the company raised $ 5.4 billion, making it the second largest IPO since Uber’s IPO, which raised $ 8.1 billion in May of this year. 2019.

The two former Google employees, Su Hua and Cheng Yishiao, founded the application in 2013, which allowed users to share a short video containing animated GIFs, to be developed after that in 2016, and the possibility of live broadcasting is added. Since then, Quisho has become a strong competitor among the most popular social media apps in the world.

With the increase in competition from “ByteDance” in terms of the size of the funds it targets, it intends to raise through the proceeds of offering the shares of some of its works for public subscription on the Hong Kong Stock Exchange, which was announced by “Bloomberg News” last November, and the subscription of “Quish” shares became an opportunity To prepare for the next phase of the competition.

Statistics about the company

  • 305 million average number of active daily users within China of the “Qisho” app.

86 minutes The average time that app users spend per day.

  • 2.3 trillion the number of short videos, live broadcasts, posts, and comments on the app.
  • 19941 number of employees.
  • 40.7 billion yuan ($ 6.3 billion) in revenue for the company during the first nine months of 2020, which ended on September 30.

IPO statistics

  • 115 Hong Kong dollars (US $ 14.83) the price of the “Qisho” share that was sold in the IPO, which is the cap of the price range in which the IPO was marketed.
  • 250 Hong Kong dollars, the price of “Quechou” shares in the “gray market”, which is designated for institutional investors, according to Bloomberg News.

365.2 million shares were sold to investors before the company issued shares in excess of the limit specified in the subscription.

  • $ 5.4 billion proceeds from the IPO.
  • $ 60.9 billion, the market value of the company, according to the IPO.

The IPO will result in the company’s owners Su and Cheng joining the list of billionaires with an estimated wealth of more than $ 5.5 billion, according to the Bloomberg Billionaires Index, and data compiled by Bloomberg.

Investors

  • 1204 the number of retail investor purchase orders for every share offered for sale, according to the company’s statement.
  • 1.28 trillion Hong Kong dollars ($ 165.1 billion), the total volume of purchase orders from individuals participating in the IPO, according to the “IFR”, making this the highest value of purchase orders for individuals in the history of the Hong Kong Stock Exchange.
  • 10 primary investors who are obligated to keep their shares for a period of six months, in exchange for allocating a guaranteed number of their own shares before the subscription. The value of those shares amounted to $ 2.5 billion, which were shared by companies: Capital Group, Infsco, Fidelity International, Temasek Holding and GAC.

Where is the importance of the IPO?
The IPO turns “Quisho” from a fledgling company into a giant, thanks to the use of billions of subscription proceeds and others to increase its ability to compete fiercely in the fields of live broadcasting, as competition is intense with local platforms, such as “Goi” and “Momo”, as well as in the field of videos. Short; ByteDance excels by acquiring double the number of users per day through the application of “Dwin.” While competition may rage with the launch of “Tencent Holding” short videos within the application of “WeChat”.

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