Etsy Has Decided To Leverage The Power Of Gen Z By Acquiring Depop.
The second-hand market is booming like never before because of the ongoing global pandemic. Unemployment, shrinking pockets, and an unstable economy has forced people to change their buying patterns and turn towards second-hand products. Additionally, the alarming rise in global warming and pollution have made the buyers re-tailor their shopping beliefs, and have pushed them towards more sustainable and humane fashion, craft, and home decor options.
On the heated ground of the incessant expansion of the second-hand market, the top two-sided shopping brand of the US – Etsy has bought the vibrant British shopping app, Depop, which is most preferred by Gen Z for secondhand sales and purchases. The deal was closed at $1.6 billion paid mostly in cash.
Etsy’s Decision To Claim Top-Spot On Second-hand Market
Etsy, popularly known as the “house of brands”, started in 2005 and went public in 2015. It operates two-sided online marketplaces which connect millions of passionate and creative buyers who deal in craft, home decor, vintage furniture, collectibles, art, handmade toys, jewelry, clothes, etc. The customer demographic of Etsy states that the age of its average consumer is 39 years, and therefore, it falls into more serious shopping choices.
Depop, on the other hand, was founded in 2011. It provides a social environment to its customers by allowing them to create their personal accounts for the purpose of launching, marketing, buying, and selling products. It caught up with the market’s pace quickly, creating its very own clan of consumers who on average fall under the age of 26 years. One can find them hanging more on newer social media platforms like Instagram, Tik-tok, and Snapchat.
Generation Z – The Driving Force Behind The Growing Second Hand Market
Gen Z – or the consumers below the age of 24 have immense passion in second-hand shopping. This generation was found to be the driving force behind the sector’s growth, adopting second-hand fashion 2.5 times faster than any other age group. This approach has led to an increase in the second-hand market to $24 billion in 2020. The resale market which stands at $28 billion today is expected to grow to $64 billion in the upcoming 5 years.
Therefore, instead of creating a huge customer base in this demographic, Etsy decided to employ the ready-made customer base of Depop. In exchange, Depop will continue to and more efficiently use the resources of this industry.
Etsy Clarifying The Move
Josh Silverman in his statement said “Depop is a vibrant, two-sided marketplace with a passionate community, a highly-differentiated offering of unique items, and we believe in the significant potential to scale further. We see significant opportunities for shared expertise and growth synergies across what will now be a tremendous ‘house of brands’ portfolio of individually distinct, and very special, e-commerce brands.”
He further added that, “We believe Depop to be the resale home for Gen Z consumers with a unique offering and highly-engaged user base. With the closing of this incredibly exciting transaction, Etsy’s ‘house of brands’ portfolio now includes four individually distinct and very special eCommerce brands – Etsy, Depop, Reverb, and Elo7 – with parallel growth strategies, all sharing similar missions, visions, and values. We are excited to welcome the entire Depop community into the Etsy family and look forward to applying Etsy’s value creation roadmap to help them further drive growth.”
Now, it will be quite interesting to see how the Depop customers react to the acquisition.
Navigating a Crisis: How to Keep Your Business Afloat
We humans live in an unpredictable world, where there is a chance of adversities to happen at any moment. Since the beginning of 2020, we have come across many things, rather I would say experienced many things that we never thought could happen. A global pandemic, economic downturn, or natural disaster have turned our lives and businesses upside down in an instant.
As a business owner, it becomes strenuous to keep your business afloat and ensure you do not have to lay off your employees. You want to protect your employees, your customers, and your business, but it’s easy to feel lost and unsure of what to do.
Let me tell you a million dollar thing. Every crisis offers you an opportunity to introspect, improve and come out stronger on the other side. It’s a chance to adapt, to evolve and to prove that your business has what it takes to survive and thrive. And that’s why in this article, we’re going to talk about five key points to keep in mind when navigating a crisis in order to achieve success.
We’ll discuss the importance of having a plan in place, effective communication, being flexible, prioritizing your people and the power of staying positive. We’ll delve into the specific steps you can take to protect your business and your employees during a crisis, and how to come out on top.
I know how hard it becomes to not lose your calm and stay optimistic when the world around you seems to be falling. But trust me, it’s important to keep in mind that every crisis is temporary. And with the right mindset and the right strategy, you can give your business a new glimmer and the best chance of success. So, let’s dive in and learn how to navigate a crisis like a pro.
Have a Plan in Place: It’s important to have a crisis management plan ready in place well before the crisis knocks at your door. This plan should emphasize the actions your company will take during the emergency situations. The management plan should clearly specify roles and responsibilities of each member of the business concern. Having a plan in place will give your company a sense of direction and purpose during a crisis, allowing you to make quick, informed decisions.
Communicate Effectively: Clear and timely communication is crucial during a crisis, so the viewpoints are described and understood properly. Your employees, customers, and stakeholders all need to know what is happening and what steps your company management is taking to counter the situation. This means keeping everyone informed of any changes, updates, or developments related to the crisis, and addressing any concerns or questions that may arise.
Be Flexible: In times of crisis, it’s important to be flexible and open to change. This means being willing to pivot your business model, adjust your operations, or even temporarily shut down in order to weather the storm. The ability to adapt and evolve is critical to survival in a crisis.
Prioritize Your People: Your employees are the backbone of your company, and it’s important to prioritize their well-being during a crisis. This means providing them with the support, resources, and tools they need to stay safe and healthy, as well as fostering a sense of community and unity within your organization.
Stay Positive: The most important thing throughout the time of crisis is maintaining a constant positive attitude. Your positive mindset is what makes the situation already won in half. It’s important to stay positive and focused on the future during a crisis. Keep your eyes on the prize and stay motivated, even in the face of adversity.
The Benefits Of Investing In A Volatile Market: Why Now Is The Right Time
A lot of you will agree with me when I say the stock market is a tricky and unpredictable place. Inflation and geopolitical instability have a great impact on the market direction. The current situation is certainly volatile as the US and other countries are facing record breaking inflation. The increase in interest rates in the US also dilapidated the situation.
The present situation can make it difficult for both existing investors to make strategic changes to their portfolios and new investors to decide if they should invest at all. However, for those with disposable funds, now may be the perfect time to invest. In this article, we will explore three reasons why the current market situation is the right time to invest.
We will also discuss how the current market downturns present opportunities for growth, the importance of diversification, and the long-term investment horizon. We will also provide tips for new investors on how to navigate the market and establish good habits. Whether you are a seasoned investor or just starting out, this article will provide valuable insights on how to navigate the current market and make strategic investments for the future.
Why is the present situation the perfect time to invest? Here are three reasons why:
Market downtrend brings growth opportunities
When the stock market experiences a downturn, investors have the opportunity to buy high-quality investments at a lower price. When the market eventually recovers, these investments can generate significant returns.
Diversification is key
Diversifying your portfolio i-e doing investments across different asset classes and industries is always a wise decision. Diversified investments can help you mitigate risk and provide a cushion during market downturns. By doing your investments across multiple sectors, there is a possible chance of recovering the loss in one stock from another stock that performs better.
Long-term investment horizon
It’s important to remember that investing is a long-term game, you need to have patience. While short-term market fluctuations can be concerning, over time, the stock market has consistently shown a positive return. By investing now, you are positioning yourself for potential gains in the future.
Tips for new investors on establishing good investing habits
For new investors, observing more and investing less is my suggestion. Starting with small investments means you are less exposed to excessive risk. A dollar-cost averaging method, which can be explained as small sums of investments at regular intervals, can reduce the temptation to time the market and lead to more significant gains.
It’s important to have a realization of one’s risk tolerance and time horizon before deciding when and where to invest. Remember, competent investing is less about day-to-day developments and more about the future. Be strategic, stay focused, and only risk what you can afford not to touch in the future.
In conclusion, the current market situation may seem uncertain, but it presents opportunities for growth and diversification. By investing now, you are positioning yourself for potential gains in the future. With a long-term investment horizon and a well-diversified portfolio, you can navigate the volatility and come out ahead in the end.
World Rewards People Who Take Risks: Prashant Pitti On EaseMyTrip’s Journey To Success
Prashant Pitti, the co-founder of EaseMyTrip, discusses how his entrepreneurial journey began and why the company has remained strong even during the worst of times.
The sudden outbreak of the deadly virus affected hotels, airlines, cruise lines, and online travel agencies (OTAs). According to statistics, global lockdowns resulted in a 49% decrease in travel activity, costing the travel industry nearly $4.5 trillion (£3.7 trillion). When there was a global travel ban, it was difficult for the OTAs to stay in business. However, one company survived even during this period. That company was EaseMyTrip, led by the Pitti brothers. EaseMyTrip not only became a unicorn, but it also went public, raising Rs 510 crore through an IPO. Prashant Pitti, its co-founder, sits down with Sahil Sachdeva, the founder of Level Up PR, to talk about establishing EaseMyTrip and taking it to uncharted heights.
Edited excerpts from the interview are —
Sahil Sachdeva: Tell us about your college and work life before starting EaseMyTrip.
Prashant Pitti: I come from a humble background. I was raised in a middle-class family in Delhi. I was a huge fan of sports in my childhood. But as I grew older, I focused on my studies and was accepted into IIT Madras. From there, I landed a well-paying job in the United States. So I went to work for Capital One in the United States for over two years. Then, I moved to Chicago and worked for HSBC for about a year. Quit, and returned to begin my entrepreneurial journey, and joined my two brothers who had already started EaseMyTrip.
Sahil Sachdeva: What prompted you to embark on your entrepreneurial journey?
Prashant Pitti: I’d always known I wanted to be an entrepreneur. There was never any doubt. When I arrived in the United States, almost everyone applied for a green card right away, but I didn’t. I knew I needed to return to India.
I was a staunch opponent of people leaving India. In college, I was always telling everyone to stay in India. I used to argue with my friends about the importance of creating jobs in India. This is in 2005 when the entrepreneurial world did not exist. But I got a job with a company that only hires 4 students out of 3000 each year. How do you leave after 26 rounds of interviews? But the desire to start my own business remained. So, I came back and embarked on my entrepreneurial journey by establishing EaseMyTrip.
Sahil Sachdeva: EaseMyTrip has two other co-founders, who are also your brothers. What is your role in the company?
Prashant Pitti: Your company can be divided into three components: supply, execution, and demand. Nishant, one of the brothers, therefore, is responsible for supply. Rikant, the other brother, is responsible for technology and execution. And I am responsible for the demand, which includes marketing and investor relations.
Sahil Sachdeva: What is the secret to your success, turning into a unicorn and going public?
Prashant Pitti: The story of EaseMyTrip is one of slow and steady winning the race. We have collected Rs 260 crore through business operations while maintaining profitability for the entire 13 years. We are designed to endure, thrive, and be around for a very long time. Because of our tenacity, even in the Covid-19 year of FY21, which served as the benchmark for all travel agencies, we generated a profit of Rs 88 crore before taxes. We will undoubtedly continue to exist for the next 50 years. Thanks to the hard work of the last 13 years.
Given that we were one of the first internet companies to go public, we had no idea what we were getting into. Before now, internet companies only considered becoming listed on NASDAQ. We decided to go a different route and list in India because we understood that while doing so might result in a lower valuation than on NASDAQ, it will undoubtedly result in significant branding and marketing efforts. That is precisely what took place. Our value has increased significantly as a result of being listed in India.
Sahil Sachdeva: What is your vision for the next 3-5 years for EaseMyTrip?
Prashant Pitti: With a 22% market share, EaseMyTrip has grown to become the second-largest travel portal. Now, to become the number one player, we must double in size. As a result, we expect to become market leaders in the next three years, but profitably. That is the company’s goal for its India operations.
We recently realized that we can run our operations without even charging consumers a convenience fee. As a result, we tested this model in Dubai and launched EaseMyTrip.ae, which has grown rapidly. It has grown from $100K per month to $2.5 billion per month in just 6 months without spending any money on marketing. This is because EaseMyTrip.ae does not charge a convenience fee. So, to grow, we are concentrating our efforts in the Middle East and Europe, where the convenience fee is very high.
Our goal now is to become a global ticketing company operating out of India and to expand not only in India but also globally. We’ve already begun to expand in Thailand, London, and the UAE. It would be the US in the following 20 years. These are the markets that we have specifically chosen to serve the locals.
Because of our low-cost approach and high efficiency, we will be able to grow in other geographies profitably.
Sahil Sachdeva: Are there any new verticals that you plan to add?
Prashant Pitti: We have already acquired three companies and are in the process of acquiring more. We are clearly the leaders in the air travel space in India, but there are other areas where we are growing inorganically, such as buses, trains, hotels, and cabs. Acquisitions provide inorganic growth. All of these divisions are also growing organically. Each year, our numbers increase by twofold.
Sahil Sachdeva: Finally, I’d like to know what one thing you know to be true and share with others.
Prashant Pitti: I have always thought that since you only have one life, you should pursue your interests. Instead of telling yourself not to do something you like, you should give it a try. So always take chances. And I believe that the world rewards people who take risks. Because the majority of people don’t take risks, this is the norm. So be aware that taking big risks is always rewarded in the world.
Microsoft Launches Affordable Subscription Plan: Microsoft 365 Basic
Microsoft has recently announced the launch of its most affordable subscription plan for availing its service offerings. The newly launched plan called Microsoft 365 Basic will only cost $1.99 per month. Alternatively, the users can choose the annual plan priced at $19.99. Microsoft offers a suite of applications, including cloud-based services, productivity, and collaboration software. The basic plan, which is also a part of subscriptions, comes with an Outlook Email, 100 GB of storage, and priority access to the support experts for help related to Microsoft 365 and Windows 11.
One of the key highlights of the Microsoft 365 Basic plan is that it provides its existing OneDrive subscribers with 100 GB storage and an easy transition to the new plan on January 30th. Moreover, in the coming months, Microsoft 365 Basic plan members will get access to advanced security features such as password-protected sharing links in OneDrive and ransomware recovery.
For the unversed, the newly launched Microsoft 365 Basic will not replace the free Microsoft 365 tier, which will continue to be available along with its current benefits. The free plan includes access to the web-based versions of Word, Excel, PowerPoint, OneNote, Outlook, OneDrive, Clipchamp, and 5 GB of cloud storage. Microsoft 365 Personal will also remain at $6.99 per month or $69.99 per year.
Price-wise, Microsoft 365 Basic faces competition from similar rival services such as Google and Zoho. Google Workspace’s plan starts at $9.99 monthly and offers 1 TB of storage, professional support, and Google’s standard productivity software. Microsoft 365 Basic is also more cost-effective than Zoho’s Standard Workplace plan. Zoho’s standard plan starts at $3 per user per month when billed annually and offers a maximum of 10 GB of storage.
The Microsoft 365 app, which replaces the Microsoft Office app with a new look and additional capabilities, has also been made generally available by Microsoft to meet with the launch of the new tier. In addition, to file templates, “smart” suggestions, to-do list features, and device synchronization, the Microsoft 365 app will offer rapid access to products like Word, Excel, and PowerPoint. This month’s end will see the app’s release for Windows, Android and iOS.
The simplified view feature of Microsoft 365 will soon allow users to view, manage, and upgrade cloud storage across devices. Starting February 1st, subscribers can manage and upgrade their cloud file and photo storage from a Microsoft account, Windows settings, or app setting.
Microsoft 365 has been the top product generating a lot of income for Microsoft. Thus, the company has staked much of its future on the cloud and, consequently, cloud-driven subscriptions. However, it’s important to remember that Microsoft 365 may be in legal trouble in the European Union.
According to a recent evaluation by a working group of German data protection regulators, Microsoft has yet to be able to address any of its compliance concerns. This might pressure Microsoft 365 users in Germany and other EU countries to review their use of the company’s software or look for less compliance-challenging substitutes.
Capital Raise Vs Merger And Acquisition: What’s The Best Choice For Your Startup
As the new year begins with the global economic slowdown, startup founders might have to take a critical decision about their business: to keep wading through the tough time, look for funds, or sell their company. Amid the market downtrend, inflation and rising interest rates, technology businesses are the ones struggling to grow and be profit-making.
In such a cloudy environment, many companies are looking for a capital raise, merger, or sale. But are companies that decide to raise capital instead of exploring their M&A options being shortsighted? In this post, we’ll take a closer look at the key considerations before taking the next step: hold, fold or raise.
Face The Tough Time
In a tough time when company valuations are plummeting, if a startup chooses not to raise capital, it may be left only with an option to implement cutting costs, such as laying off employees, and slowing or stopping growth to stay afloat. In this scenario, founders will need to carefully leverage their spending to ensure the longevity of their survival.
If a startup decides to raise capital in today’s market, there are several key considerations to take into account:
- Growth: The prime intention for raising capital should be to grow the business and revenue so that the company’s value is in a greater position when you bag the next funding, or when the company is sold. It’s crucial to ensure that the new capital will help achieve this goal.
- Value: Raising funds should have a set vision for elevating the company’s valuation by a multiple of the revenue increase.
- Equity without liquidity: Every investment results in dilution for existing shareholders. While the total value of the company may increase, the proportion of ownership held by current shareholders will decrease with each round of investment.
- Time: Raising capital is a time-consuming process, as potential investors will not dare to invest in any business without examining the founders, solution, market size, and business proposition.
- Loss of control: With the new funds, there is an addition of new people into your company. The founders will have to not only dilute their economics but also dilute control. Investors will want to know how the business is run and will want input on key decisions.
- Growth differences: Many venture capitalists will push an early-stage company to spend the investment on rapid growth, creating the need for more working capital. In uncertain economic times, this can come at a significantly lower valuation.
- Open kimono: When seeking funds, founders must be prepared to disclose a lot of information about their team, company, and strategies to potential investors. Financial statements and other sensitive information will also be required.
Mergers and Acquisitions
Instead of raising another round of funding, a startup may choose to pursue a merger or acquisition or to sell the business. These options are usually considered when business performance is on the upswing, and a merger or acquisition can help reach new markets, increase market opportunities, or eliminate future competition. Some of the benefits of selling include:
- Liquidity: Selling a company can provide a significant return on investment for founders and investors.
- Exiting: Selling a company can provide a way for founders to exit the business and move on to new ventures.
- Reduction of Risk: A merger or acquisition can reduce overall risk by leveraging the strengths of each company while spreading the risk across a larger entity.
In conclusion, when deciding to stay the course, raise capital or sell, it’s important to weigh the pros and cons of each option. Each one may have a different outcome depending on the company’s stage, the market conditions, and the company’s financial situation
Vanessa Warwick Steps Down From Property Redress Scheme Following Alleged Racism Complaints
Amid the backlash from the public because of the racist comments, Vanessa Warwick steps down from the Property Redress Scheme.
The conflict between Vanessa Warwick, a supporter of racism against tenants of color, and Samuel Leeds, a property investment trainer and the owner of “Property Investors,” has taken a new turn, with Vanessa Warwick stepping down from Property Redress Scheme in the face of widespread public outrage. This has also led Samuel Leeds to acquire a 35% stake in Property Tribes, making him an essential influencing individual there.
Property Tribes was founded by Vanessa, a former MTV presenter who is also an investor in real estate and the community manager for the platform. She wanted to create a platform where property owners and landlords could share their knowledge and experience to help others in the sector operate more effectively.
A Step Towards Change
The explicit discrimination that certain of Warwick’s advice was brought to light by Samuel Leeds in one of his latest videos. Vanessa advised against disclosing the homeowner’s unwillingness to rent to Bangladeshi families because she detested the aroma of their traditional food, curry. She avoided any potential legal ramifications by doing this. As a result of rejecting tenancy applications from Bangladeshi families, one of several property owners queried on the forum whether they would be subject to race discrimination laws in the UK.
Warwick’s racist behavior was further showcased by Samuel in his videos. Despite having received criticism for encouraging discrimination against racial minorities in their forum, she was named as a new advisor to the board of the UK’s Property Redress Scheme. However, with widespread outrage from the public after assisting racist landlords in discriminating against ethnic minority tenants, Vanessa has now officially resigned as a PRS advisor. They have taken a step towards change by replacing her with the advisory panel’s first black member.
Vanessa vs Samuel
Warwick had also harshly criticized Samuel’s reputation as a property trainer, pointing out that his students belonged to a “vulnerable” group. Given that the majority of his students are ethnic minorities who aren’t regarded as “vulnerable,” Samuel called out the racist mindset that underpins this point of view. He began bringing the issue to light via his website and YouTube channel. As a result, he was accused by Warwick and her admirers. Later, Leeds filed a defamation lawsuit against Warwick, and she responded by filing a six-figure lawsuit.
Samuel Leeds is said to have bought a 35% stake in Property Tribes in an attempt to put a stop to the dispute. Although he is a minority shareholder with little influence, Leeds chooses to think he can contribute to “cleaning up the company” and lowering racism in the forum. “Because they trolled me, I wanted to at least get paid… Like Michael Jackson did to Eminem,” he jokes.
Furthermore, Leeds promises that every dollar from this sale will go to organizations that combat racism and cyberbullying. In addition, Leeds will donate an extra £50,000 to organizations battling hatred in the United Kingdom. He is showing through this action that he is determined to stand firmly against any type of discrimination in the real estate industry or any other related field.
Dillon Forte’s Sacred Geometry Artwork Has Everyone Eager To Get Inked!
Dillon Forte, a world-renowned tattoo artist from Austin, gives the world bliss in the form of his sacred geometry artwork, blackwork, dotwork tattooing.
Art in the form of tattoos is sacred in itself. It’s not done on paper but on skin that remains an integral part of the body forever.
“Tattoos are a permanent commitment of passion.” ― Tawny Lara
That passion to draw stories on the body is not to be taken lightly. Dillon Forte is an experienced tattoo artist who does it for a living and his passion has stories reaching far and wide. He’s a professional artist who specializes in sacred geometry, blackwork, and dotwork tattooing. He primarily tattoos for a living with his team of other artists at his Austin based studio ,but he also does canvas art, sculptures, and creative collaborations with specialty brands.
People come to get inked with their favorite symbols, patterns, art, and other ideas by Forte, and his dedication amazes both the client and those who see it. The divinity in his art is worth a gazillion praises and clients like Usher, Chris Hemsworth, Kat Von D, Kehlani, and others have sought out his work.
Making Tattoos Sustainable
What if we told you tattoos are sustainable too? In recent years, Dillon Forte launched Forte Tattoo Tech, a line of eco-friendly tattoo supplies aimed at other tattoo artists and their shops. This move aims to revolutionize the tattoo industry and make the process less impactful on landfills and the planet.
Dillon also collaborated with Inkbox, a popular line of “for now” tattoos that look real but only last for a short period of time. Many of his designs are available now on their site. He has also collaborated with Cozo, a high-end sculpture artist to create timeless pieces.
This charismatic artist has been interested in sacred geometry since he was a teenager and shaping this into a full-fledged career is his dream come true. He was always buried in art and tattoo books to hone his skills. The connotation of ‘sacred’ is used due to the specific mathematical ratios used in the construction of religious architecture globally, along with the mathematics found within nature.
He got his first tattoo at 16 and started working in a tattoo shop under an apprenticeship at 18. At that time, he only did what people wanted him to and it didn’t really elevate his style. After some time, he went on to exclusively cater to exquisite taste and ink the sacred geometry for his clients. Since the age of 18, he has worked in the tattoo industry, carefully crafting and evolving his unique style.
On his interest in sacred geometry, he commented, “(sacred geometry is) something much bigger, connecting the universe and everything here on our planet. It’s a lot to explain, but many of the people that come to me get these tattoos because of the deeper meaning. I hope that those discovering my art learn more about the history behind sacred geometry and find their own connection. I think it opens up a rabbit hole of curiosity and introspection, and I find it to be fascinating.”
Dillon wants people to pursue their passion as he did. If you keep trying and take the right steps, success will come to you. To see his fascinating tattoos, visit here.
How To Effectively Use Your Startup Funding From Seed to Success
Launching a new business can be a thrilling and demanding pursuit. One of the key resources that entrepreneurs need to get their businesses off the ground is funding. Seed funding, in particular, refers to the initial capital entrepreneurs raise to finance the early stages of their business. It is typically smaller than later rounds of funding.
This funding is typically used to cover the costs of developing and launching a product or service and establish a strong foundation for the business. There are various sources of seed funding, including friends and family, angel investors, and venture capital firms. Entrepreneurs may also consider crowdfunding platforms or government grants as potential sources of seed funding.
How an entrepreneur uses their seed funding can be a key factor in the success of their business. It’s important to be strategic and prioritize investments that will drive long-term growth rather than simply spending the money on things that may not significantly impact the business.
In addition to impressing potential investors, using seed funding properly can help entrepreneurs build a strong foundation for their businesses and set themselves up for future success. This may involve investing in product development, marketing and sales efforts, talent acquisition, infrastructure, legal and compliance expenses.
It’s also important for entrepreneurs to be mindful of their budget and avoid overspending. Seed funding is typically a limited resource, and it’s important to make sure it is used efficiently to stretch it as far as possible. This may involve making difficult decisions about what to invest in and what to hold off on until the later stages of the business.
Once an entrepreneur has secured seed funding, it’s important to use it wisely to maximize the chances of success for their business. Here are a few key areas where entrepreneurs should consider investing their seed funding:
Product development: Developing a strong product or service is crucial for any business. Seed funding can be used to conduct market research, prototype and test products, and build a minimum viable product (MVP).
Marketing and sales: To grow their business, entrepreneurs need to get their product or service in front of potential customers. Seed funding can be used to build a marketing and sales strategy, create marketing materials, and hire a sales team.
Talent acquisition: Building a strong team is crucial for the success of any business. Seed funding can be used to hire key employees or contractors who can help bring the business to the next level.
Infrastructure: Establishing a strong foundation is important for any business. Seed funding can be used to rent office space, purchase equipment and supplies, and build the necessary infrastructure to support the business.
Legal and compliance: Businesses must ensure that they comply with all relevant laws and regulations. Seed funding can be used to cover the costs of legal and compliance assistance.
Luxury Brands Look To Conquer The Skiwear Market With New Collections
Armani’s luxury ski wear line, Neve, made a triumphant return to the slopes with a highly anticipated line of skiwear in St. Moritz, Switzerland. The line, previously available for purchase, has already proven to be a hit among fashionable winter sports enthusiasts, with over half a million dollars worth of merchandise sold in its first week of availability.
The event in St. Moritz provided the perfect opportunity for Armani to showcase its sleek and stylish designs, which have been carefully crafted to provide both high-performance functionality and an elegant fashion sense on the slopes. With its successful relaunch, Neve is poised to become the go-to brand for discerning skiers who demand the best in fashion and function.
It is true that skiwear is an increasingly popular and profitable market, and many luxury brands are taking notice. With the growing popularity of winter sports and an increased focus on stylish outdoor clothing, it is not surprising that brands like Armani, Louis Vuitton, and Farm Rio are exploring this segment.
Farm Rio, a Brazilian brand known for its vibrant and colorful designs, has released a ski collection featuring stylish and functional pieces at prices that are still significantly lower than those of Armani. This trend highlights the growing demand for fashionable ski wear among a broader range of consumers and shows that the market is expanding beyond its traditional high-end roots.
Another well-known clothing brand DL1961 known for its affordable yet high-quality denim styles, recently partnered with ski brand Perfect Moment to release a holiday ski wear collection. The capsule collection features a range of jackets and pants made from denim but with the added waterproof and insulating features necessary for winter sports. This collaboration highlights the growing trend of blending fashion and functionality in skiwear and the increasing popularity of this market among more affordable brands. By offering stylish and functional skiwear at accessible prices, DL1961 and Perfect Moment make it possible for a broader range of consumers to enjoy the slopes in style.
The skiwear industry has seen significant growth in recent times, with a reported increase in sales by 400% at the beginning of the year. This growth can be attributed to a resurgence in ski resorts’ popularity and the influence of social media platforms such as TikTok on fashion trends. As travel to destinations like Aspen becomes more prevalent, skiers are looking to update their wardrobes with new skiwear. Jarah Burke, a fashion account director at a marketing firm, suggests that the popularity of ski fashion on TikTok has contributed to the industry’s growth.
Jarah Burke believes that the growth of the skiwear industry can be attributed to a combination of factors. One of these factors is the opening of travel destinations, which has allowed people to return to ski resorts and given them a reason to purchase new skiwear.
Another factor is the trend of combining a hobby or pastime with a specific style, which allows young people to not only enjoy their activities but also flaunt their outfits and experiences on social media.
Elon Musk Clears Up A Rumor That Apple Has Stopped Advertising On Twitter
Elon Musk, the billionaire entrepreneur, has cleared up a rumour that Apple has stopped advertising on Twitter. The rumor went viral after Elon Musk claimed that Apple seemed to have stopped advertising on Twitter and warned that they would remove their app from the Apple App Store. However, Elon Musk has come out with a statement saying that the rumors are false, and that Apple has resumed advertising campaigns on Twitter.
Elon Musk took to Twitter on Saturday evening to address the rumor and clear it up for his followers. He wrote, “Apple has fully resumed advertising on Twitter.”
A few days ago, New York Times reported Apple had purportedly stopped advertising on Twitter after the Club Q shooting in Colorado Springs on November 19. The logical reason for the brand was it could not see its product advertising next to the tweets about human tragedy, so it halted the advertising campaign.
Elon Musk has spoken about the recent controversy surrounding Twitter’s removal from the Apple App Store. In a series of tweets on Thursday, December 1, Musk said that he had met with Tim Cook regarding their concerns about Twitter being removed from the App Store. He added, “Tim was clear that Apple never considered doing so.”
Musk also said that Apple was the biggest advertiser on the Twitter platform. In addition, Musk thanked advertisers for returning to Twitter.
On Saturday, September 29, Musk also posted an update on Amazon’s plans to advertise on Twitter again. He said that Amazon had committed to spending approximately $100 million per year on advertising via Twitter once Amazon does some security tweaks to the company’s ads platform.
The news that Apple and Amazon are returning to Twitter is welcome, especially for those who have been following their progress on the platform. The two companies are essential players in the tech industry, and their return will undoubtedly be a boon for Twitter.
One of the biggest questions surrounding their return has been whether it will help improve the company’s financials. While some believe it will go hand-in-hand with an increase in ad revenue, others are still determining how much money this will bring in.
Twitter has been lowering its internal revenue projection for the last quarter of 2022, finally to let it settle at $1.1 billion. Post Twitter acquisition, Musk had also accepted that the platform was in dire need of funds.
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