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Amazon Prime Service Crosses 100 Million Subscribers

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Amazon CEO Jeff Bezos, revealed in his annual share holders letter Yesterday that Amazon Prime has now crossed 100 million Prime Members. Amazon revealed its Prime numbers for the first time in the 13 years since its inception!

The number of Prime subscribers for years has been a closely held secret and the focus of much speculation. The figure also confirms that Prime is one of the World’s largest Internet subscriptions and a strong force among online retailers. By revealing the number of subscribers, Amazon has given us a hint at the steep and steady increase of revenue over the years.

The letter from CEO Jeff Bezos is meant to celebrate the eighth year in a row that Amazon ranked number 1 on The American Customer Satisfaction Index. It might also be interesting to note that there has been recent criticism, claiming Amazon employees are being subjected to awful working conditions. According to Bezos, Amazon Prime also saw its best year ever in 2017, with the company shipping over five billion products with Prime and by signing up more new members than in any previous year.

Amazon Prime was launched at a price of Rs. 499, which was later increased to Rs. 999 a year later. The Prime membership in India includes features like access to free one day and two days deliveries, Amazon Prime Video access and Prime Music for free. Prime members also get discounted “Same Day and Morning Delivery” to pin codes in select cities around the Country, including places like Hyderabad, Delhi, Mumbai and Pune.

Looking at the massive success of Amazon Prime in India, the company expanded its services to Mexico, Singapore, the Netherlands, and Luxembourg. Furthermore, in an attempt to increase its customer base, Amazon has also introduced Business Prime Shipping in the US and Germany.

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Technology

Top Technology Skills In Demand

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In today’s world, change is the only constant.  Technology is now evolving at such a rapid speed, a technology which was in demand a few months ago may be replaced with a new one even before you realise it.  The only way you can succeed in this ever changing world of technology is by learning constantly. So, if you are a student looking for a tech job or an aspiring tech entrepreneur, here is a list of tech skills you must learn to stay alive in the market.

 

1) Machine learning

Machine learning is an internal part of AI.  Machine learning provides the system with the ability to learn and improve from experience without being programmed constantly.  A platform like Netflix uses machine learning to provide recommendations to its users.

Considering its advantages, machine learning is now being incorporated into a variety of sectors and there is a huge demand for skilled professionals.  Within machine learning, we also have subskills like neural networks, natural language processing and deep learning.  Each of these subskills, provides opportunity for specializations.

With this skill, you can get hired at top tech companies as an AI architect with an average salary of $ 150,000.

 

2) Cloud computing

Cloud computing is a term which includes delivery of a variety of services through the internet including data storage, databases, servers, etc., without actual management by the user.

Cloud  computing jobs are only increasing because more and more companies are making the transition from classical servers to cloud servers and the pay cheque for skilled professionals is only getting fatter by the day.

 

3) Digital marketing

In simple terms, digital marketing is the science of marketing products and services using various digital media.

Employers are looking for people with digital marketing skills so as to improve their company’s online presence which, in turn, can attract a lot of customers.  Digital marketing can be a useful skill to learn if you are job seeker.

On the other hand, this skill can also help you if you are aspiring to start your own business.  You can use Search Engine Optimisation (SEO) skills to market your own company.

 

4) Internet of Things

Internet of things (IoT) is basically an interconnection of physical objects which are accessible through the internet.  A smart home is a real life example of internet of things. Apps like Fitbit and Lyft also use IoT.

With so much of scope, IoT is the future.  Skilled professionals with an understanding of IoT can get highly paid jobs, develop their own applications or start their own businesses.  This is a must learn skill for tech savvies.

 

5) Augmented reality and Virtual reality

AR and VR are two technologies capable of changing the way you look at the world.  Augmented reality creates an enhanced version of the reality using technology, whereas virtual reality uses computer technology to create a simulated environment for the user.  The popular game Pokémon Go is an example of augmented reality.

AR and VR find applications in various fields, including gaming, entertainment, education and marketing.  Learning these skills can be extremely useful if you are looking to start a business or develop your own games.

 

Though there are several emerging technologies, these 5 technologies have a sustainable future and can provide a secure career path.

Comment and let us know if you think any other technologies can be added to this list.

 

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Facebook Reveals Details Of Its Cryptocurrency Libra

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On the 18th of June, Facebook revealed details of its brand new cryptocurrency called Libra.  An alternative to cash, this cryptocoin can be used to buy things or send money to people with close to no fees.  The cryptocurrency is going to be launched by an association called The Libra Association, which consists of a group of companies interested in getting Libra out into the world.

You can use Libra to buy or cash out your Libra at local stores like grocery stores and through third party wallet apps.  To make using Libra an easier task, Facebook owned Calibra Wallet will be built into WhatsApp and Messenger, thereby simplifying transaction processes.  Although certain countries have banned the use of cryptocurrencies, Facebook is trying to break new ground with the launch of Libra.

While Facebook is launching Libra, the social media giant is not going to be in complete control of the cryptocoin.  The coin will be controlled by a consortium consisting of its founding members, Visa, Uber and Andreessen Horowitz. The three companies have invested at least $ 10 million each into the creation of this cryptocurrency.

Customers interested in holding or transferring the newly acquired token will be given multiple options to do what they wish.  To further simplify matters, Facebook will let customers access transactions through this cryptocurrency via a special app designed for iOS and Android.

To protect the identity of its users while making transactions through the new app, Facebook won’t require you to share personal details.  “The advent of the internet and mobile broadband has empowered billions of people globally to have access to the world’s knowledge and information, high fidelity communication, and a wide range of lowercost, more convenient services,” the Libra Association said in a paper announcing the cryptocurrency.

Libra will be made available to the world during the first half of 2020.  As of now, Facebook is focusing on building relationships in international waters.

Stay tuned for more updates.

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Funding

Facebook Invests In Indian Startup Meesho

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On the 13th of June, social media giant Facebook announced, it invested an undisclosed amount in Indian startup Meesho.

A Bengaluru based startup, Meesho works with resellers and emerging brands using social media.  This is the first time Facebook invested in a startup based in India. Through this investment, Facebook aims to increase its commitment to the Country’s vibrant internet ecosystem.

“Facebook is an ally for India’s economic growth and social development. We are excited about India and its rapidly rising Internet ecosystem. With this investment in Meesho, we want to fuel a business model that can result in rapid job creation and the rise of a female entrepreneurial class in India,” Ajit Mohan, the Managing Director of Facebook India, said in a statement.

It was two primary factors which made Facebook invest in Meesho.  The first reason was how the startup is growing outside the Tier II and III cities, where new users are present.  The second reason is, Meesho has a larger user base, 80 % of which are women.

So far, Meesho has raised $ 50 million from a Series C funding round in November last year.  According to industry reports, the startup helps people using its service earn close to Rs. 25,000 every month!  With WhatsApp playing a crucial role in the app’s growth, it comes as an added blessing that Facebook invested in this particular startup.

Through investments like these, Facebook is capitalizing on the social media boom happening in India.

Stay tuned for more updates.

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