Bengaluru based health and fitness startup CureFit announced a Rs. 100 crores partnership deal with Bollywood actor Hrithik Roshan. The actor will be the brand ambassador for the startup for the next five years.
CureFit, according to sources, will accelerate their pan India expansion plans and add 500 new fitness centers, called the Cult. This partnership is said to be one of the largest endorsement deals signed by an Indian startup and is expecting to generate around $ 39.2 million in annual revenue within the next few years.
According to the deal, Hrithik Roshan has been offered an equity stake in the company in place of cash investment. CureFit will also be introducing a customized work out plan from Hrithik’s personal brand, HRX, in all their fitness centers, which will also be available on their mobile app.
CureFit was cofounded by Mukesh Bansal and Ankit Nagori in 2016. Mukesh Bansal is also the founder of fashion ecommerce platform Myntra, which was later sold to Flipkart. In a statement regarding the partnership, Mukesh Bansal said, “CureFit’s growing popularity amongst consumers validates the need for holistic, preventive healthcare solutions in the country. Our partnership with HRX will enable us to expand our market presence and consumer base.” The startup will soon launch a do it yourself format for the HRX work out and Hrithik will be promoting their healthy lifestyle philosophy.
Speaking about CureFit and the partnership, Hrithik Roshan, who is also the founder of HRX, said the HRX work out received a tremendous welcome at the fitness centers and he is delighted with the initial response. He added, “The idea behind this workout is to help people move better, faster and feel athletic by progressing gradually. We are delighted with this initial response and it also gives us great confidence to look at reaching out to newer markets and further the HRX vision through this partnership.”
Many celebrities have signed contracts and invested in upcoming startups in the past couple of years. Recently, Alia Bhatt signed a deal with the online jewelry brand BlueStone. The Baadshah of Bollywood, Shah Rukh Khan and the Perfectionist, Amir Khan have also signed deals with grocery startup BigBasket and ecommerce startup Snapdeal, respectively in 2015. Such endorsements by celebrities give startups immense value with respect to visibility and image.
Online Food Delivery Platform Zomato Acquires Uber Eats
Uber Eats, the online food delivery business owned by Uber, has been in the news for quite some time, saying it will cease operations due to losses from the business. Swiggy, which is one of the leading online food delivery startups in India, had its eyes on acquiring Uber Eats. However, the deal could not fall through due to disagreements about the financial terms and taxation clauses.
The Indian public was in for a surprise when Zomato announced they will acquire Uber Eats in an all stock deal for $ 350 million. This is one of the biggest acquisitions of this year. The Uber Eats app ceased operations and instead shows you a notice which redirects you to the Zomato platform.
Uber Eats posted on their official Twitter handle regarding the news about the acquisition.
We entered food delivery in India in 2017 and today is when our journey takes a different route. Zomato has acquired Uber Eats in India and we’ll no longer be available here with immediate effect. We wish all our users more good times with great food on the road ahead pic.twitter.com/WEbJNaJY8M
— Uber Eats India (@UberEats_IND) January 21, 2020
This deal now gives Zomato a 55 % control of the market, which it now shares with its competitor, Swiggy. The online food delivery market has been very difficult for Uber Eats to make inroads as it was already captured by Swiggy and Zomato. The deal excludes Uber Eats’ employees as Zomato stated they will not take them. Uber will absorb these employees and allocate them other business roles.
Sundar Pichai To Lead Alphabet Inc As New CEO
Sundar Pichai is all set to lead Alphabet Inc., the multinational conglomerate parent company of Google. Pichai was the Chief Executive Officer (CEO) of Google since 2015 and now, he will also lead Alphabet Inc.
On the 3rd of December, Larry Page, the co founder of Alphabet Inc., stepped down as the CEO handing over the position to Sundar Pichai. Alphabet, which emerged in 2015 as a result of restructuring of Google, currently owns more than 12 companies, including Waymo, Malta, Makani, X Development, Calico, the healthcare software company Verily and others.
Larry Page and Sergey Brin, the co founders of Google, wrote a blog post speaking about their decision of moving out of the company, instating Sundar Pichai the CEO of Alphabet.
Larry Page showed his confidence in Sundar Pichai, who has been leading Google as the CEO since 2015. Page said, “We’ve never been ones to hold on to management roles when we think there’s a better way to run the company. And Alphabet and Google no longer need two CEOs and a President. Going forward, Sundar will be the CEO of both Google and Alphabet (sic.)”
Though Larry Page and Sergey Brin resigned from their respective posts of CEO and President, they would still remain on the Board of Directors of the Company.
Born and brought up in a middle class family in Madurai, Tamil Nadu, Sundar Pichai completed his education from IIT Kharagpur and Stanford University. Later, in 2004, Pichai joined Google marking the starting point of his successful career. Sundar Pichai gained success after creating and executing the Google Chrome project, which is now the world’s most used web browser.
In the letter, Larry Page and Sergey Brin addressed Sundar Pichai praising his efforts, abilities and contribution to Google. “Sundar brings humility and a deep passion for technology to our users, partners and our employees every day,” they added.
The cofounders also mentioned Pichai worked for the growth and development of Google and Alphabet for 15 years, through the formation of Alphabet, as CEO of Google, and a member of the Alphabet Board of Directors.. They are confident Pichai would lead Google and Alphabet with great passion.
Speaking about the blog and the role, Sundar Pichai tweeted
I’m excited about Alphabet’s long term focus on tackling big challenges through technology. Thanks to Larry & Sergey, we have a timeless mission, enduring values and a culture of collaboration & exploration – a strong foundation we’ll continue to build on https://t.co/tSVsaj4FsR
— Sundar Pichai (@sundarpichai) December 4, 2019
Twitter users congratulated Sundar Pichai for becoming the CEO of Alphabet Inc. Hours after the big announcement, the shares of Alphabet Inc., rose by 0.64 % to 1,303 dollars.
From a small company in 1998 working out of a dorm room and a garage to a multinational conglomerate, the journey of Google and Alphabet has been incredible. Watch the biography of Larry Page on our YouTube Channel
Apple’s New Launch – iPhone 11
Apple Inc., launched its iPhone 11 lineup on September 10th 2019. The launch happened in San Jose, where the headquarters of the Company are located. The iPhone 11 lineup includes the iPhone 11, the iPhone 11 Pro and the iPhone 11 Pro Max. The price of the new iPhones ranges from $ 699 to $ 1099, with the iPhone 11 being the cheapest. During the launch, Apple also introduced other devices like the next gen Apple watch, the 7th gen iPad and the Apple Arcade.
The new iPhone 11 is an upgraded version of the iPhone XR, while the iPhone 11 Pro and Pro Max are upgrades of the iPhone XS and XS Max respectively. The iPhone 11 is directed at the price sensitive Indian market.
During the launch, Apple’s Senior Vice President of Worldwide Marketing Phil Schiller said, “iPhone 11 Pro and iPhone 11 Pro Max are the most powerful and advanced smartphones we have ever made. They are packed with sophisticated technology that pros can count on to get their work done, and for anyone who wants the very best device made, even if they are not a pro.”
The new iPhone 11 will be available in three storage variants of 64GB, 128GB and 256GB. The iPhone 11 will be powered by A13 Bionic, which is a new processor designed by Apple. The smartphone will have a 6.1 inch LCD screen with a resolution of 1792 X 828 pixels. The rear camera of the iPhone 11 consists of two lenses and both have a 12 megapixel image sensor. The iPhone 11 is dust and water resistant and will be available in black, green, yellow, purple, red and white variants.
iPhone Pro and iPhone Pro Max
The Pro and Pro Max versions are quite expensive compared to the iPhone 11. They are priced at $ 999 and $ 1099 respectively. The smartphones will be available in three storage variants of 64GB, 256GB and 512GB. The rear camera of both the smartphones consists of three lenses. The OLED display of iPhone Pro and Pro Max are 5.8 and 6.5 inches respectively. Just like the iPhone 11, these models are also dust and water resistant.
The iPhone 11 lineup will be released on September 20th 2019 in the United States of America and on September 27th 2019 in India.
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