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Pepperfry – How An Idea Became A Fortune Spinner

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Remember the early days when shopping for furniture was an arduous and painful task? Now, however, thanks to the founders of Pepperfry, the days of trudging through narrow roads and haggling for cheap furniture are a thing of the past. Founded by Ambareesh Murty and Ashish Shah, the idea of launching an online store came over a lunch which changed the way people bought furniture online.

The beginning

When Murty and Shah met at a mutual friend’s office over lunch, the duo realised they were all working on addressing a major gap in the industry: the absence of one platform catering to all your lifestyle needs. A tissue paper turned out to be the piece of paper where plans for the future of Pepperfry were carefully sketched out. Back then, the platform didn’t focus on just furniture, but had a wide array of categories, ranging over products like jewelry, fashion and clothes.

While the idea was written and the team was ready to hit the ground running, the initial round of funding of $ 5 million from Norwest didn’t come in till almost 6 months after signing the deal. The months when the funds didn’t come in were extremely nerve wracking for the founders. The team of ten were running low on morale and the website was not launched yet. Things were so bad, the team were down to the last Rs. 10 lakhs and thought the time had come to give up all hope.

On the day the founders were almost ready to pull the plug on their relationship with Norwest, an investment came in, like a ray of sunshine on a cloudy day. With renewed hope and an influx of $ 5 million in cash, the founders of Pepperfry were all set to make a splash in the industry. Through the years, the team started growing in size and decided the time had come to narrow down to just one specific line: furniture.

The future

By the time the team started growing and making an impact, the furniture industry had not started blooming. One of the major hurdles Pepperfry had to work over was to ensure the products people were ordering online had the exact specifications. If the specifications weren’t met to perfection, the team could lose existing, as well as perspective customers, resulting in a decline of income for the company. Perhaps one of the things which sets Pepperfry apart is, Pepperfry isn’t a search driven website, but is more focused on improving the user’s browsing experience. Further, by focusing primarily on in house logistics, the Pepperfry team reduced the delivery time drastically (from 25 days to 11 days.) In Mumbai, the team worked to bring down the time of delivery to same day delivery! By developing a logistics algorithm for the delivery vehicles, the Pepperfry team can locate whether the truck has delivered the furniture on time or not.

While initially catering only to the online market, Pepperfry branched out to include the offline customers as well and by 2014, the Company opened its stores across India. Today, this startup accounts for more than 50 % of the furniture industry’s market share and by looking at its growth chart, Pepperfry has no plans of stopping any time soon!

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Fun Facts About Netflix

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Gone are those days when you would have to spend your pocket money on buying DVDs to watch your favourite films.  This is the 21st century and in this age of technology, whether it is for watching a popular film or your favourite web shows, you know where to reach—Netflix, of course!  With new films, documentaries and shows being added on a daily basis, Netflix is the most popular streaming platform in the world. Today, we bring you some interesting facts about Netflix which may surprise you.

 

Fun facts about Netflix

 

1) Though Netflix started renting out DVDs only from 1998, it was founded in 1997 by Reed Hastings and Marc Randolph.  This makes Netflix a year older than Google.

2) Netflix was originally called Kibble.  Kibble was the name of Netflix’s co founder Marc Randolph’s dog.  This name was to remind everyone, “No matter how good the advertising, it’s not a success if the dogs don’t eat the dog food.”

3) House of Cards was not the first original content produced by Netflix.  Netflix made a test video called Example Show in 2010.  In this 11 minute long test video, you can find pretty inane content like an actor moonwalking with a laptop and reciting a monologue from Julius Caesar.  You can still watch it on Netflix.

4) As of October 2018, Netflix accounts for 15 % of the world’s web traffic and approximately 36.5 % of North America’s web traffic.  If Netflix did not compress its videos, this number would have been three times higher. YouTube, which is also a streaming platform, accounts for 11.4 % percent of the web traffic. 

5) In 2013, Netflix hosted an award show of its own and aptly titled it “The Flixies.”  It allowed users to vote for their favourite films and shows under various categories.

6) Orange Is The New Black, 13 Reasons Why, The Crown, House Of Cards and Stranger Things are some of the most watched Netflix original series.

7) Netflix is available in more than 190 countries, from Australia and Europe to most parts of Asia.  However, it is most popular in the U.S. 

8) As of January 2019, Netflix has around 139 million paying subscribers.  More than 58 millions of these subscribers are U.S. based.

9) In 2014, a glitch caused the summaries of various titles to merge, creating completely hilarious and ridiculous summaries.  One summary which appeared to combine the Power Rangers installments with Inglourious Basterds read, “The Samurai Rangers get stuck in the Megazord’s cockpit on Christmas Even when it breaks down. Can the Rangers get out and assassinate Adolf Hitler?” 

10) Netflix was instrumental in coining the word “binge watch,” when it started to release its series’ episodes all at once.

 

Which of these facts about Netflix surprised you the most? Comment and let us know. 

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5 Lessons Every Entrepreneur Can Learn From Walt Disney

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The man who changed his passion for art into a multi billion dollar media empire, Walter Elias Disney or Walt Disney, as he is popularly known, was an artist, entertainer, film producer, entrepreneur and philanthropist. 

The Walt Disney Company, founded by him and valued at approximately $ 130 billion, is the second largest broadcasting and cable company in the world.  Walt Disney managed to shape the childhoods of billions of kids all around the world by giving us our most memorable cartoon characters—Mickey Mouse being the most popular of them all. 

Here are some lessons every entrepreneur can learn from Disney’s life.

 

1) Follow your passion

The most important lesson entrepreneurs can learn from Walt Disney is to do what you love.  If you are doing it for the money, then it probably won’t last. Walt Disney loved drawings and cartoons so much, he devoted his life to them and amassed a huge empire because of this passion.  There were times when he took up odd jobs just so he could fund his passion.  Because he loved drawings so much, he overcame every hardship which came his way and emerged victorious.  When you do what you love doing, no day feels like work and no hurdle too hard to cross.

 

2)  Do what they say is impossible

“If you can dream it, you can do it.”

— Walt Disney.

When Walt Disney first started his work, thousands of people criticised him, saying that no one would sit through an entire animated feature film.  These comments from people, however, could not stop him because he never ceased to believe in himself or his dreams.  Snow White and the Seven Dwarfs was the first feature animated film made by Walt Disney and it received a standing ovation at the end of almost every screening.  All the other animated films like Alice In Wonderland, Cinderella and Fantasia, made and produced by Disney, proved to be huge successes, especially among children.  Apart from this, he was also told a theme park with a mouse as its central character would scare people and no one would be interested in it.  Thanks to Walt Disney’s self belief, today we have Disneyland and Mickey Mouse is known across the world. 

 

3) Try one more time

Walt Disney was one such person who faced a lot of failure and rejection in his initial days.  His first animation studio, Laugh-O-Gram Studio, which was home to many pioneers of animation, never made any notable profits.  At a point in his life, he became penniless, lost his studio, his creators and his equipment, but one thing he never lost was his willpower to try again.  From this willpower of his came the world’s most loved cartoon character—Mickey Mouse. 

 

4) Be a risk taker

Walt Disney as an entrepreneur was never afraid to take risks.  There were many instances where the future of the entire Walt Disney Company depended on whether the new venture he took up was successful or not.  The riskiest idea he ever ventured into was Disneyland. Many people, including his brother turned business partner Roy O. Disney, urged him to give up on the idea.  If Disneyland failed, the entire Company would be shut down, but Disney took the risk.  Today, Disneyland is one of the most profitable theme parks in the world.  

 

5) Never settle

Disney created Mickey Mouse and it became a huge success, but he did not stop there.  He went on to create Minnie Mouse, Donald Duck, Pluto and other iconic characters. What made The Walt Disney Company a multi billion dollar empire is the fact Walt never stopped improving.  After one accomplishment, he would go on to another and then another. He never settled after just one accomplishment. Always look for ways to improve yourself and your business. 

 

Walt Disney, who started from humble beginnings, became a business mogul and an animation pioneer.  His journey is nothing less than remarkable.  

We hope you found these lessons helpful.  If you did, comment and let us know. 

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Things You Didn’t Know About Mark Zuckerberg

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Mark Zuckerberg, the CEO and founder of Facebook, is arguably one of the most influential people in the world.  At the age of 35, as of May 2019, he is the 8th richest person in the world and has a net worth of $ 67.3 billion.  Here are some lesser known facts about him.

Things you didn’t know about Mark Zuckerberg

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1) Mark Elliot Zuckerberg was born on May 14th, 1984 and since childhood, he was passionate about programming.  At the age of 12, he created an instant messaging program called ZuckNet, to help his dentist father know when the patients arrived.

2) Zuckerberg was approached by several companies, including AOL and Microsoft, even before he finished high school, but he turned down their job offers.

3) Zuckerberg has red-green colour blindness and this is the main reason why the logo of Facebook is blue.

4) You cannot block Mark Zuckerberg or his wife Priscilla Chan on Facebook.  Apparently, the couple have been blocked so many times on Facebook, the algorithm does not allow you to do so anymore.  Have you ever tried doing this?

5) The guests who attended Zuckerberg’s wedding with Priscilla Chan were actually told they were being invited to attend Priscilla’s graduation ceremony.  The wedding ceremony was quite a surprise to them.

6) Zuckerberg tends to go to despicable lengths to protect his privacy.   Once, a developer tried to build a large house which would have a view of Zuckerberg’s master bedroom.  After this incident, Zuckerberg spent around $ 44 million to buy all the houses surrounding his Palo Alto home.

7) Many big companies like Microsoft, Google, Viacom and Yahoo tried to buy Facebook, but Zuckerberg turned down all their offers.

8) Mark Zuckerberg is a fitness buff and takes fitness very seriously.  In 2016, he set a goal to run 365 miles in a year and ended up completing it half way through the year.

9) Zuckerberg signed the Giving Pledge agreement and promised to give away at least 50 % of his wealth in his lifetime.

10) Zuckerberg himself designed his wife’s wedding ring, which is a ruby edged on either side by diamonds.

11) His annual salary at Facebook is $ 1.

12) Zuckerberg holds 50 patents to his name.  The first one was for the Synapse Media Player, which he designed in senior high school.

 

Which of these facts about Mark Zuckerberg interested you the most?  Comment below and let us know.

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