Your Tech Story

Aman

Aman calls himself a curious breed, who is fond of the expedition, bowling and is a super colossal movie buff. A small cog in a digitally transforming world who seek to forge mark in the gargantuan marketing space. He is an introvert by nature yet, loves being around with heart-warming people. Philosophy of Life: "Hardship often prepares an ordinary person for an extraordinary destiny." ? Christopher Markus.

BMW : One of the Oldest Aircraft Manufactures and the Leading Motorcars Giant of Today’s Time

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Humans have always been obsessed with speed. Ever since the emergence of automobiles, our top priority has been to build a machine, which is faster, and at the same time, reliable. One company that has gained the trust of the millions around the world is BMW.

Bavarian Motor Works or Bayerische Motoren Werke is a Germany based automobile manufacturing giant. Founded in the year 1916, by Franz Josef Popp, BMW has a total workforce of more than a hundred thousand employees. The company headquarters are located in Munich, Bavaria and, Germany. It is an international acclaimed manufacturing unit and the most reliable and trusted brand in the global market.

BMW headquarters
Image Source: bmwblog.com

The company is the twelfth largest motorcars producer company in the world. Awarded at several events, the motorcars manufacturer hold Guinness World Record for longest sustained drift by BMW M5 model. BMW produces cars in Germany, China, India, South Africa, UK and US. Today, it is the most desirable car brand besides Mercedes and Audi.

The Emergence of the Company

During the initial days, BMW started as an aircraft-manufacturing firm named Rapp Motorenwerke. By the end of 1918, the manufacturing unit of the firm was forced to cease the aircraft engine manufacturing, and later, in the year 1923, it switched to motorcycle production. The transmission was not that easy, however, it bought golden luck for the company. Soon, the firm started manufacturing and producing motorcycles on a commercial scale.

In 1930, the firm regained authorization to manufacture aircraft parts. But by the end of 1959, due to the cost constraints, the firm had to discontinue the aircraft production. The company then decided to switch to automobile manufacturing, which proved to be a vital changing phase in the future of the firm.

Transition as Automobile Manufacturer

Right after the switch, BMW bought Hans Glas in 1966. The first car released by the company was Dixi. The car’s design was based on Aston seven model. The Dixi had a top speed of 75mph, which was pretty fast in those times. In 1992, BMW acquired a big California based industrial studio, and later, annexed British Rover Group.

Rover brought bad omen for BMW, and as a result, the company decided to sell Rover to Phoenix Consortium. The company ever since then involved exponentially in car designing and manufacturing process. It has a customary blue and white logo derived from ancestral Rapp Motorenwerke. The company has estimated more than six assembly lines and four operating division mainly BMW Motorrad, Mini, BMW Motorsport and BMWi. In order to meet the requirement of the global market, the company has tripled its production units in recent years. At present, the company has a revenue of astounding $97.48 billion. The brand has established its name as one of the leading car manufacturers. The BMW cars are quite popular among celebrities as well.

Car Racing Industry and BMW

The BMW brand has dominated the Formula1 tournaments as well. The advanced engineering solution has not only evolved the cars for a better result but into a racing machine. Every year a significant number of BMW cars take part in competition around the world. BMW is not only deluged with success but clients and media attention. European golf events, PGA Championship, Football clubs and United States Olympic Committee are just a few of many clients that BMW looks after as a prominent sponsor.

Awards and Recognitions

According to several magazine and tableau, BMW is among the top 10 automobile manufacturing companies in the world. It earned 2012’s best buy award in engine and premium compact car category. In 2011, the company won The Red dot award for product designing. It was also awarded the Euro Car body award in 2017. Recently, BMW M5 has been voted the world’s best performance car of 2018.

The Success Journey of Freecharge from a Start-up to a $400 Million Business

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Western civilisation had a huge impact on the Indian start-up culture. If you look around, you will find many Indian start-ups taking ideas from Silicon Valley projects like PayTM inspired by PayPal, OYO followed the business concept of Airbnb, and there are many more examples doing the same. This lead to the accusation for the Indian entrepreneurs of recreating ideas instead of digging a new one. In the midst, Kunal Shah and Sandeep Tandon proved everyone wrong and built a start-up to address payment related issues and launched a product called Freecharge, which later, took the digital market space like a wildfire.

Origin of Freecharge and initial success

The foundation of Freecharge started in the year 2010 when Sandeep was an angel investor and met Kunal at his BPO Company. Sandeep recognised Kunal’s potential and admired his entrepreneurship skills. In the year 2009, Kunal started with his own venture Paisaback. The idea was to give cash back to the customers through local business tie-ups. For instance, the customers used to get cash back if they visit any local fast food restaurant like KFC or McDonalds on the reference of Paisaback. However, the business ideas did not work out well and soon collapsed.

Kunal Shah
Image Source: ishaeducation.org

Later, Kunal wanted to make a technology, which would eventually minimize payment-coupled complexities and ease the payment process. His focus was especially on mobile phone recharges. He had analysed it as a million dollar idea which would disrupt the market. The idea gave birth to Freecharge. Both Kunal and Sandeep started with the product development phase. Within no time, they launched Freecharge on Independence Day i.e. 15 Aug 2011. McDonald became their key partner for initial days. For the project, they received an undisclosed amount of seed funding from American Venture Capital firm supported by Tandon Group and Sequoia Capitals. Freecharge tool off their business exponentially and grew into tech giant in coming years.

Investment from top firms to selling out the company

After successful three years from its inception, Freecharge received another round of Series B funding INR 220 Crores from their trusting partner Sequoia capitals, Sofina and Ru-Net. Because of their exceptional business delivery, Freecharge again received 535 crores form Hong-Kong based funding firm Tybourne Capital, Valiant Capital Management and from existing funding partners. The Freecharge was killing the market space and shut down many businesses. Many entrepreneurs saw Freecharge as a big opponent. As a result, in the year 2015, Snapdeal, after realising the potential of Freecharge, acquired the company. Snapdeal bought Freecharge for a whopping amount of INR 2700 crore, which also became the biggest takeover in the Indian history of the start-up.

Kunal’s vision for success entrepreneurship

Before stepping into the entrepreneurship journey, Kunal had taken a bold step, as he dropped out from Narsee Monjee Institute of Management Studies (NMIMS) while pursuing his MBA degree. Instead, he pursued an education in Philosophy, preferably. He holds a B.A degree in Philosophy from Wilson College, Mumbai, India. According to his controversial statement, he regarded the MBA as a waste of time and money. He believes students should reach out to running companies instead of wasting so much money while studying theoretical pieces of stuff. However, many intellectuals criticised his theory, he remains adamant. Today, he inspires many through his Freecharge success.

Kunal credit his self-devised Delta 4 theory for building Freecharge a successful start-up. It was Kunal and Sandeep homogenize vision, dedication and honest is the reason why Freecharge has become a global name in mobile-based application software. Today, Freecharge has grown a thousand times and has a customer base of more than 30 million people. Freecharge also awarded as the best consumer mobile service at IAMAI Digital Awards in 2015. The journey of a Freecharge is a lesson to many who want to explore the entrepreneurship journey.

Success Story of Jeremy Stoppelman and Russel Simmons – Founders of Yelp

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The entrepreneurship journey of Jeremy Stoppelman and Russel Simmons, from working in PayPal to forming one of the world’s biggest business review website Yelp Inc., is a story of sheer dedication and creativity. It all started when both the founders who were working in PayPal as a software engineer dreamt of starting their own venture.

Russell and Jeremy
Image Source: http://brainprick.com

The inception of Yelp into market space

Jeremy attended Harvard Business School, after finishing his Computer Science degree from the University of Illinois. Meanwhile, Russel had already finished his bachelor’s degree, one year before Jeremy passed out from the college. He was working in PayPal as Lead Software Architect. Later when Jeremy joined PayPal, Russel and Jeremy get along really well and planned to start with their own venture. Their idea was to disrupt the market with a product that will help to resolve business issues. After endless brainstorming sessions in a business incubator, they founded Yelp in the year 2004. Initially, Yelp came out as an email recommendation service, and later, grew into a local business website for San Francisco.

Glory to success and eminence

After the inception of Yelp, it transformed drastically. By 2008, the company started offering services in most of the states of the U.S. By the end of the financial year, the co-founders started working on the Canadian project. Due to enormous success in such a short span, the vision of the company expanded to serve the world. In coming years, it grew exponentially and became an international social networking website as a local search tool. The success of Yelp did not stop just there; as a result, today, Yelp has more than 62 million unique visitors and approximately 177 million reviews on their website. Yelp has transformed into social networking, business review and local city guide, where people can search anything from finding a restaurant, shopping to almost anything. Yelp is now operational in more than 32 countries across the world and still holds the best interest of their customers.

Co-founders parting ways

Russel after serving several years as co-founder and CTO at Yelp, bid farewell to the company, in the year 2010. According to sources, he wanted to take time off to travel. Russel still holds significant shares of the company and continue his service as a consultant to the company. Jeremy, on the other side, still serving as a CEO to the company. There were several media trials on clashes between the two co-founders, but no evidence to solidify the case. Today, Yelp has the highest revenue per month compared to Facebook, Twitter, Snapchat, Instagram or any other major social networking platform. The company has a market cap of $3 billion and wish to grow more in the coming years.

Yelp business model captured the market with the ideology of solving customer’s issues, and hence, turn out to be one of the biggest social networking sites. The company is transforming with the introduction of Artificial Intelligence-based product and services. It will not be wrong to say that, the company has the potential to grow further. In the year 2009, the technology giant, Google, offered $500 million to buy Yelp. The CEOs politely declined the offer. Google is known for killing the completion; the gesture of buying Yelp shows its potential in the market.

Decoding the Life of Ruzwana Bashir: A Woman of Substance

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Hailing from a tight-knit Pakistani community to co-founding PEEK—the story of Ruzwana Bashir is an inspiration to many. Life was not easy for her; she had a tough time growing up. She explained how freedom for women was dreaded upon in her community. It was until college when she started wearing western outfits. Before that, she was obtruded to wear Salwar Kameez and Burkha all the time. Wearing western outfits were not so popular in her family and forbidden in her community. Such inferior experience at a tender age changed her as a person.

Ruzwana Bashir
Image Source: purposegeneration.com

Ruzwana grew up in a small community in Skipton, outskirt of Rotherham. She enrolled in Skipton High School, North Yorkshire. Talking about her childhood, Ruzwana was a brilliant student. With assiduous commitment and sheer dedication, she managed to get into Oxford University. She took Philosophy, Economics and Politics as her major in college. She became second-ever Asian female president of the Oxford Union debating society and remained actively involved in numerous extracurricular activities. Because of her outgoing personality, she became a popular face inside the campus. According to Ruzwana, the turning part in her life came after she got the Fulbright Scholarship to pursue an MBA from Harvard University. There was no turning back after then. After finishing her professional degree, she started working as an investment banker intern at Goldman Sachs. She went on to work with Gilt Groupe and was the founding member of the team for Art.sy before starting with her own venture.

Found glory as an entrepreneur

Ruzwana entrepreneurship journey started in the year 2012. Her idea was to create a market space to connect travellers to local service providers offering booking services to holiday destinations. The ideas worked like a charm. She along with her fellow co-founder, Oskar Bruening, was able to attract investors like Eric Schmidt, Jack Dorsey, and David Bonderman for financial funding. By the end of 2013, Peek expanded exponentially by launching Peek Pro suite, an organized backend software to smooth tour related operations and at the same time launched a mobile application to maximize audience engagements.

In 2014, Peek received another $5 million round of funding. The success of Peek established Ruzwana as the most influential women in Silicon Valley alongside Marissa Mayer and Sheryl Sandberg. Apart from several corporate awards, the company emerged out as the top 10 most innovation website by Fast Company. TIME defined Peek to be the top 50 most creative website of 2014. The initial success made Ruzwana the superwomen of Silicon Valley, and later, awarded as the most prominent entrepreneur by Fortune. According to Ruzwana, smart work and vision to think differently is a magical potion to achieve success in life.

Spotlight and the Controversies

Bashir came into the spotlight on 29 August 2014, when she wrote an article in The Guardian, where she delineates her story of survival as a child. Her article on Rotherham’s Asian abuse camp misery gained nationwide attention. In addition, became a shred of prime evidence to initiate an investigation. Once the investigation authority started digging up, more victims came forward. The special team prepared combined testimony of several victims, and later, all perpetrators were sentenced guilty. The whole incident shocked the world. It became clear women suffered sexual abuse and exploitation in captivities. To make matter worse the victims were beaten to the extent that they refrain from registering their complaints. It was Ruzwana initiative that helped in solving several heinous cases.

According to Ruzwana, the struggles she had gone through her life really helped her out how to handle the extreme situation and remain composed. She utilised those experience on her journey to entrepreneurship. Her calm temperament shows her mental toughness, she is not just an amazing person but also a woman of a substance.