Mukesh Ambani seems to be having one of the best years of his career, proving that the COVID-19 pandemic is not a hindrance to his goals. Mukesh Ambani’s latest product is a video conferencing app which aims to take on the hottest video conferencing app, Zoom. The telecommunications vertical of Reliance Industries, Reliance Jio, formally launched Reliance JioMeet, on Thursday evening, which has an uncanny resemblance to Zoom.
Zoom has emerged as one of the companies which has thrived due to the COVID-19 pandemic, as businesses are forced to shut down their offices and shift their operations to remote work. This meant the demand for a good video conferencing software shot up and Zoom stepped up to the task before Google, Microsoft and Facebook could catch up. Zoom has also removed time limits for the conference calls and made the entire suite free of cost for schools and businesses in the affected regions across the globe, thereby further increasing its popularity.
However, JioMeet has a similar if not better offering than Zoom. JioMeet offers unlimited number of free calls in high definition (720p) to users and supports as many as 100 participants on a call. Interestingly, JioMeet appears to not impose a short time limit on a call’s duration. Jio Platforms says a free call can be uninterrupted for “up to 24 hours” long. The service currently has no paid plans and considering Jio’s reputation for giving services for free for years like Jio data plans, it would come as no surprise if JioMeet is also made free for the time being.
JioMeet comes at the perfect time as the Indian government suggested that Indians need to aggressively work on homegrown technologies and develop them so that they are on par with technologies developed by global giants. The government has called for leading Indian software and IT companies to come up with an alternative for Zoom and it looks like Jio has stepped up to the task.
Uber And Bajaj Partner To Install Safety Partitions In One Lakh Auto Rickshaws
Ride hailing company Uber and automaker Bajaj have partnered with each other to install safety partitions in one lakh auto rickshaws in India. In what can be termed as a best case practice and healthy collaboration across two industries, this move comes on the back of the COVID-19 pandemic which is spreading across the world. The installation of the safety partition aims to make Uber auto rides safer for both the driver partner and the passengers. The safety partition also improves the brand trust and value for both Uber and Bajaj. The partnership also aims to make travel in the new normal safer for both riders and the driver.
Safety kits consisting of face masks, hand sanitizers and vehicle disinfectants will also be distributed to 1,00,000 auto rickshaw drivers across 20 cities including New Delhi, Gurugram, Mumbai and Pune. The other cities include Chennai, Hyderabad, Bengaluru, Mysore and Madurai. Uber has also been using its technology to provide driver partners with training on usage of PPE kits and sanitisation protocols for their vehicles via the Uber app.
Uber has resumed 70% of its operations across India since the lockdown rules have been relaxed by the government. “We are seeing green shoots and most importantly the recovery is strongest in our auto product. It is because of the price point, reliability and many other factors (sic,)” said Nandini Maheshwari, Director Business Development, Uber APAC, in an interview. “When you take an auto rickshaw we want you to know that you will be hundred percent safe and secure (sic.)”
“As our country opens up, we at Bajaj Auto are keen to assist our driver partners in giving a safe ride to their customers (sic,)” said Samardeep Subandh,President Intra City Business, Bajaj Auto. Furthermore, Subandh also said “Towards that, we are reaching out to more than 100,000 drivers to install safety partitions and deliver disinfection kits irrespective of the make of the vehicle (sic.)”
Storage For Rent: This Startup Idea Is Seeing A Huge Demand During COVID-19 Pandemic
If you could travel six months back in time and tell yourself how the world would look now, you might have dismissed it as a hoax. The world changed suddenly when the COVID-19 virus broke out and started spreading across the world. The virus which manifests in the form of a flu before attacking the respiratory system currently has no vaccine. This forced governments across the world and India included, to enforce a strict mandatory nationwide lockdown.
The lockdown was initially announced in India for just three weeks and many businesses and startups never expected it to go beyond a month. However, the lockdown is still continuing albeit with a few relaxations, but many industries continue to be badly affected by it as they saw zero revenue in the last three months. Many organisations and businesses have made the shift to remote work as their offices remain to be closed for fear of contracting the COVID-19 virus.
As software companies continue to declare work from home for the foreseeable future, many employees are looking to return back home from technology hubs like Bengaluru and Hyderabad so as to save money on huge rents in the metropolitan cities considering their offices are not opening anytime soon.
This is where a unique concept where companies offering storage spaces for long term rent is seeing a huge spurt in demand. As software employees in Bengaluru are slowly vacating their accommodations to move back home in order to save on rental expenses, they have no place to store their personal belongings. Firms like SafeStorage, Storagians, StowNest Storage and MyRaksha, which provide the service (storage for rent,) have seen a spike in clients and quotation requests. Even some gyms and restaurants, both of which are yet to reopen completely, are offering their facilities for storage in order to reduce their own rental expenses.
These storage firms offer facilities like pickup services, CCTV monitoring and individual locker facilities apart from providing insurance coverage against theft, natural calamities and fire. Ramesh Madisetty, co founder of SafeStorage, says “We have 13 warehouses with 1.16 lakh sq ft space in Bengaluru. We have signed up for another 27,000 sq ft facility near Whitefield. There is a 10x jump in enquiries due to Covid-19 , from 30 to 300 now (sic.)”
Another company named Storagians, which offers storage for rent in Bengaluru has already run out of storage space and are having to turn away customer requests. Prasanna Kumar, founder of Storagians says “Unfortunately, we are turning down customers’ requests due to the non availability of slots sic.)”
The average monthly rent is based on the volume of goods. While goods accommodated in 1BHK are charged a monthly rental of Rs. 2,500-3,500 and it will be Rs. 4,500-5,000 for 2BHK. As more and more enterprising people are embracing this concept, many others are racing against time to get their own facilities up so they can offer storage space for rent. This concept will continue to see a huge demand as long as companies keep working remotely.
Mukesh Ambani Overtakes Warren Buffet To Become 7th Richest Man In The World
Mukesh Ambani is having one of the best years of his life as his net worth is soaring like a rocket is not showing any signs of slowing down. Mukesh Ambani achieved a major milestone in his career as he broke into the elite and exclusive list of the richest billionaires in the world. This milestone happened just last month when Mukesh Ambani’s net worth surged to $ 64.5 billion which catapulted him to the exclusive list of the richest billionaires in the world.
When Mukesh Ambani entered the list of the world’s richest billionaires, he was ranked at the ninth position ahead of Google founder Larry Page. Mukesh Ambani also holds the distinction of the only Asian tycoon in the exclusive list of World’s Top Ten Billionaires. However, Mukesh Ambani surged one place ahead as he overtook Warren Buffet, the Chief Executive Officer of Berkshire Hathaway. Mukesh Ambani’s net worth surged to $ 68.3 billion dollars overtaking Warren Buffet’s net worth of $ 67.9 billion.
Mukesh Ambani is riding on the back of a series of investments into the company’s digital unit, Jio Platforms Ltd., which Reliance claimed made the company net debt free and also proved the COVID-19 pandemic has not affected the fortunes of Reliance Industries. The latest company to invest in Reliance is the processor chip manufacturer Intel as the invested Rs. 1,894.50 crore in Jio Platforms for a 0.39% stake. Jio Platforms also raised capital from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubidala, ADIA, TPG, L Catterton and PIF. While a crash in oil prices caused uncertainty in a stake sale of Reliance’s oil and chemicals division, in just two months Jio managed to attract some $ 15 billion which is more than half the investment into telecom companies worldwide this year.
Here are the latest standings in the list of the World’s Richest Billionare’s list:
- Jeff Bezos, net worth: $ 188.5 billion
- Bill Gates, net worth: $ 114.9 billion
- Bernard Arnault, net worth: $ 92.8 billion
- Mark Zuckerberg, net worth: $ 92.7 billion
- Steve Ballmer, net worth: $ 77 billion
- Larry Page, net worth: $ 71.7 billion
- Sergey Brin, net worth: $ 69.5 billion
- Mukesh Ambani, net worth: $ 68.3 billion
- Warren Buffet, net worth: $ 67.9 billion
- Larry Ellison, net worth: $ 65.8 billion
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