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How Social Networking App Houseparty Is Entertaining Generations During Quarantine Lockdowns 

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How Social Networking App Houseparty Is Entertaining Generations During Quarantine Lockdowns 


Humans are social creatures by nature and the lockdowns implemented in multiple countries across the globe has starved them of the social company that many people crave and Houseparty managed to fill that void by letting people socialise on its platform.  The fun app is a social networking application which lets users gather around in a virtual conference call in order to socialise.  Houseparty currently has over 10 million downloads on Google Play Store and even more on Apple Store (Apple would not divulge the exact number.)  This app went on to beat every other social networking app and sits at first place on the Apple Store in 17 countries, including Spain, Italy and the United Kingdom. According to Apptopia, which tracks the performance of apps, Houseparty is currently the third most downloaded app on the iOS app store in the United States, behind Zoom and TikTok and comes top in the United Kingdom.  As millions of people around the world are confined to their homes, the socialising app quickly became the go-to app for Gen-Z and millennials beating the likes of Skype, Zoom and Hangouts.  This is because of the in app games that users can play while catching up with each other.

Some companies have even hosted ‘virtual happy hours’ and friends are catching up for some simple dinner and drinks albeit virtually.  The app lets a maximum of 8 users to get in a single group and users can play games while video conferencing. Games include quizzes, trivia and a game similar to pictionary.

Houseparty is owned by Epic Games, the developers of the popular battle royale online multiplayer game Fortnite.  This pp largely works on social spontaneity and live conversations. For example, when a user is online, his/her friends receive a push notification that they are “in the house”, the recipient may be prompted to join.  Users can also enter friends’ conversations without their permission, unless they have specifically chosen to ‘lock’ their room by pressing the padlock button on the room screen.

Houseparty was downloaded 570,000 in January and 533,000 times in February. When it comes to revenue, Houseparty jumped from $17,000 in February to $155,000 in March, representing an enormous leap of 912 per cent in user spending according to a mobile app marketing firm Sensor Tower.

However, the social networking app found itself in the middle of unwanted publicity when questions about its security popped up with concerns for user data.  Houseparty iterated that user data was safe and not sabotaged. Houseparty believes that the bad publicity was part of a paid smear campaign to spoil its reputation and has in fact offered a bounty of 1 million dollars to anyone who can prove that it was the target of a paid commercial smear campaign.

Houseparty managed to thrive during this period when multiple countries worldwide are in an unprecedented quarantine lockdown.  This has affected businesses and corporations badly and experts have forecasted an economic depression which would follow once the threat of COVID-19 passes.  However, Houseparty is a unique app which is managing to thrive in this uncertain times 

 

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Wallmantra: This Indian Startup Is Upping The Home Interior Decor Game With Their Modern Designs

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Wallmantra, Wallmantra Indian Startup, Home Interior Decor Game, Home Modern Designs, Startup Stories, Collection of Wall Decor Products, Interior Decor Designs, Online Marketplace WallMantra, Best Wall Paintings, WallMantra Decoration Items, Wallmantra Founder, Wallmantra Latest News

India was always home to some of the oldest and most diverse art forms which have received a lot of international attention over the years.  The advent of internet technology and smartphones meant these art forms have found a new lease of life.  Wallmantra, an Indian startup is at the forefront of bringing these artforms to homes all over the world and India with their humongous modern variety of home and interior decor designs.  Ever since designing and selling affordable wall and interior decor out of their own online marketplace WallMantra has come a long way.

WallMantra was founded in 2013 focusing solely on an online presence.  Wallmantra has more than a thousand unique products which are listed on their website which means customers are simply spoilt for choice.  But what sets Wallmantra apart from their competitors is they have ownership of end-end processes right from design and procurement to sales and shipping and therefore have complete control over quality and timely delivery.  This Make In India startup focuses on design which brings out the best in interior spaces while every product is designed keeping in mind its utility and space requirement.

Mandala Designer Multi Layer Wooden Wall Clock

The beautiful designer Wooden Wall Clock time piece is made of birch wood, hand painted with high-quality paint.

Wallmantra has a very unique range of products like Wall Aquariums- a new and easy way to keep fishes in house, 3D Frames-layers design with LED, Garden Shelves-a short of portal Garden in your house, Wall Shelves-designs inspired from real life characters, Wooden Wall Hangings, designer clocks, and many more and all of which can be accessed through their website.  The website is quite responsive on mobile and desktop with clear division of products in defined categories.  Some of their best selling products include a Planter Shelf Wall Hanging, Mandala Designer Wall Clock, a Golden Buddha Canvas Painting and a Deer Do It Yourself (DIY) Painting Kit.

 

Ship Shape Wood Wall Shelf

This exquisite Ship shape Wall Shelf brings a unique decor for your bare walls with a great utility.

Although the entire world has been coming to terms with the COVID-19 pandemic, Wallmantra have shown no signs of stopping and in fact have used this crisis as an opportunity to expand their operations as well as  generating a whole lot of employment responding to Govt’s call for #VocalForLocal and #AtmanirbharBharat.  Wallmantra has trained a workforce consisting of  restaurant workers, contract teachers, factory workers giving them an opportunity to learn new skills.  Wallmantra has expanded, hired and trained a workforce of more than 100 people and is still continuing to expand steadily.  This is due to several factors but the most important one being its complete online marketplace.  Wallmantra has also expanded its presence into the social media platforms like Facebook and Instagram which contributed largely to their growth.  

So head over to their Facebook, Instagram and their website to browse their huge collection of various interior and wall decor products to brighten up your house.  Wallmantra is committed to providing an artistic touch and elevating the interiors of your home.

 

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How Do IPL Franchises Make Money

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How Do IPL Franchises Make Money

If there is one thing that every Indian and every cricket fan waits for all year, it is the Indian Premier League, which is the world’s biggest cricketing league.  Professional cricket players from all over the world vie to get selected by one of the eight franchises which compete in the league.  The entire league is a star studded affair and Indians manage to forget their differences and band together for all the time the league is aired.  Each franchise boasts of a loyal fan following who have supported their teams through thick and thin ever since IPL was inaugurated in 2008.  While the entire league is a melting pot of entertainment and competition, have you ever wondered how the franchises make money in IPL?  In this article we will decode the business models behind the IPL teams and how they earn money.

Franchises need to bid for players every year before the start of the IPL season in an auction.  Each franchise has a maximum spend limit of Rs. 80 crores to buy players in the auction.  Apart from buying players each franchise also needs to bear the cost of travel, support staff and logistics.  The following are the different avenues from which franchises earn money.

1) Sponsorships

Franchises earn a major chunk of their revenue from sponsorships, but they do not get the money from sponsorships directly.  The IPL governing council gets money from sponsors and in the case of this year it is from Dream 11, which is the title sponsor while VIVO was the title sponsor last year.  All the money which is earned from sponsorships is divided into a ratio of 60:40 with the Board of Control for Cricket in India (BCCI) retaining 40% of the sponsorships.  The remaining 60% is distributed among the ten franchises.  BCCI owns and operates the IPL in India.  The ratio of distribution might change in the coming years depending on the decisions taken by the BCCI.

2)  Media rights

Broadcasting companies bid for the media rights and the winning bid will get to air the IPL on their channel.  Star India bagged the media rights for IPL with a bid of Rs. 16,345 crores for five years (2018-2022.)  The money from media rights are also distributed in the 60:40 ratio with BCCI keeping 40% and the franchises getting an equal distribution from the remaining 60%.

3) Franchise sponsors

Each franchise has its own dedicated sponsors which pay a huge amount of money to the franchise.  The logos and names of the companies which you can see on the sporting attire of every IPL team are actually the dedicated sponsors of their respective franchises.  The profit from dedicated sponsors depends on the deal the franchise has made with their sponsor. The income generated from dedicated sponsors might differ from team to team.

ALSO READ: 5 Cricketers Who Are Entrepreneurs

4) Sale of tickets

Each franchise can choose a home ground from the available venues in the BCCI roster like Sunrisers Hyderabad, choosing Hyderabad and Kolkata Knight Riders choosing Kolkata.  Only the home franchise can fix the price of tickets for the matches happening in their home ground.  Bigger stadiums with large seating capacity earn the most from ticket sales.  Kolkata Knight Riders home ground Eden Gardens has the highest seating capacity in India and therefore KKR earns the most from ticket sales.  

5) Merchandising

Each franchise makes some money by selling official jerseys, caps, wrist watches, souvenirs etcetera.  The merchandise is sold through the official franchise websites.

6) Prize money

Franchises battle it out in a long season to become the winner of the IPL season.  The winning team also wins a hefty prize money which is an additional source of revenue.  In 2019, the winning franchise won Rs. 15 crores while the runner up won Rs. 10 crores.

IPL is a big stage for franchise owners to earn their revenues as well as the perfect opportunity for players to make their mark and win big auctions.  This is how franchises earn their revenues from the IPL.  As this year’s edition is off to a flying start, IPL has been a blessing in disguise for millions of Indians in the gloomy times we currently are experiencing.  

 

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Six Innovations By Elon Musk

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Six Innovations By Elon Musk

Elon Musk is perhaps the boldest business leader, thinker and entrepreneur of this generation.  Elon Musk dabbled in multiple ventures over the years and most of them might seem like they are straight out of a storybook.  Elon Musk’s perseverance to achieve his dreams have paid off and he now owns several highly successful companies.  Elon’s ambitions are bold as he is determined to send humans to Mars, offer highly subsidised or free internet to the world and develop the world’s fastest mode of transportation with his ventures.  

We give you six innovations conceived by Elon Musk which prove he is a true visionary.

1) Tesla

Tesla is a car manufacturing firm which mainly focuses on cars which run on electricity powered by batteries.  The company name Tesla, is a tribute to Nikola Tesla who was an electrical engineer.  Elon Musk’s Tesla pioneered the concept that electric cars can look and feel like premium cars as well as powering their vehicles with powerful artificial intelligence which lets its drivers to sit back and relax while the autopilot does the driving.  Tesla cars are only sold online as Elon Musk believes a traditional dealership will have conflict of interests while selling electric vehicles.  Tesla is the first automaker that sells cars directly to consumers while the rest use independently owned dealerships.

2) SpaceX

Space X is perhaps the most ambitious undertaking by Elon Musk as he believes colonising Mars is the future of humankind.  SpaceX is also short for space exploration and has drastically reduced the costs of undertaking space missions as Elon Musk figured out a way to reuse the rockets.  Unlike most rockets, which are expendable launch systems, since the introduction of the Full Thrust version, Space X’s Falcon 9 is partially reusable, with the first stage capable of re entering the atmosphere and landing vertically after separating from the second stage.  This feat was achieved for the first time by SpaceX in December 2015.  A 2011 NASA report “estimated that it would have cost the agency about US $ 4 billion to develop a rocket like the Falcon 9 booster based upon NASA’s traditional contracting processes while “a more ‘commercial development’ approach might have allowed the agency to pay only US $ 1.7 billion (sic.)”

3) Hyperloop

Hyperloop aims to be the provider of the fastest mode of transportation on the planet.  Hyperloop is a sealed tube or system of tubes with low air pressure through which a pod may travel substantially free of air resistance or friction.  The Hyperloop could convey people or objects at airline or hypersonic speeds while being very energy efficient. In aerodynamics, a hypersonic speed is one that greatly exceeds the speed of sound, often stated as starting at speeds of Mach 5 and above.  Mach 1 is the speed of sound which is 1234 kmph.  The Hyperloop Genesis paper conceived of a hyperloop system that would propel passengers along the 350-mile (560 km) route at a speed of 760 mph (1,200 km/h), allowing for a travel time of 35 minutes, which is considerably faster than current rail or air travel times.

ALSO READ: Five Interesting Facts About Elon Musk’s SpaceX 

4)  Starlink

Starlink is a satellite constellation being constructed by SpaceX  to provide satellite Internet access.  The constellation will consist of thousands of mass produced small satellites in low Earth orbit (LEO,) working in combination with ground transceivers.  SpaceX intends to provide satellite internet connectivity to underdeveloped areas of the planet, as well as provide competitively priced service to urban areas.   

5) Boring company

The Boring Company is a tunnel services company and Elon Musk cited difficulty with Los Angeles traffic and limitations with the current two dimensional transportation network as his early inspiration for the project.  Musk claims the tunnel trip will take five minutes, compared to above ground driving which takes 45 minutes in normal traffic to go from LAX to Westwood.  These trips were planned to be implemented by placing a car on an electric sled and traveling at 120 miles per hour (200 km/h) through tunnels.

6) Neuralink

Neuralink is a neurotechnology company founded by Elon Musk for developing implantable brain machine interfaces.  Neuralink announced it was working on a “sewing machine like” device capable of implanting very thin (4 to 6 μm in width) threads into the brain, and demonstrated a system that read information from a lab rat via 1,500 electrodes.  The company is centered on creating devices that can be implanted in the human brain, with the eventual purpose of helping human beings merge with software and keep pace with advancements in artificial intelligence.  These enhancements could improve memory or allow more direct interfacing with computing devices at broadband speeds.

While some of the companies and their vision might seem far fetched, Elon Musk is adamant on making them a reality.  Elon Musk and SpaceX successfully made history as being the first private organization to transport astronauts to the International Space Station (ISS.)  The entire operation from launch to docking at the ISS has been live streamed by the National Aeronautics and Space Administration (NASA) and was watched by millions from all over the world.  Neuralink’s progress was displayed recently as a pig named Gertrude had a chip implanted in her brain which tracked her neural activity and was publicly displayed to everyone.  

We at Startup Stories hope Elon Musk will continue to push the boundaries of science and imagination for as long as he can and make an indelible impact on humanity.

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