Sandhya Gupta

Ehpase Energy – A Cutting-Edge Microinverter Manufacturer.

Enphase Energy is an American company that revolutionized the solar business with its cutting-edge microinverter technologies that transform sunlight into a secure, dependable, robust, and sustainable energy source.

About The Company

Founded in 2006, Enphase Energy is a company that sells and manufactures solar microinverters, software for monitoring energy generation, and various energy storage solutions. Its products are mainly designed for residential clients. Headquartered in California, USA, the company’s business was the first to effectively commercialize the micro-inverter, which transforms the electricity produced by a solar panel i.e. direct current, into grid-compatible alternating current. It has installed over 45 million microinverters in more than 2 million homes in more than 135 countries, giving millions of people access to reliable, affordable, clean energy while also generating excellent jobs and a future less dependent on carbon emissions.

History

The majority of solar energy systems require a central inverter to convert the direct current (DC) electricity generated by the panels into grid-compatible alternating current(AC). The panels are connected in a series to form a string. This method’s primary flaw is that the energy output from the panel that performs the worst limits the energy output of the entire string. By converting the DC into AC in a tiny inverter positioned at the back of an individual solar panel, solar micro-inverters solve this issue.

Martin Fornage, the founder of Enphase, became aware of this problem when he noticed the subpar operation of the central inverter of the solar panel on his property. He approached his fellow Current Corporation coworker, Raghu Belur, with the idea of building micro-inverters, and together they founded PVI Solutions. Paul Nahi was appointed s a CEO by the two in 2006, and in 2017 the group established Enphase Energy. In 2008, after successfully securing $6 million in private funding, Enphase introduced the M175, its first microinverter.

In 2020, Enphase held a market share of roughly 48% for residential home installations in the USA, accounting for 72% of the global micro-inverter market. Enphase purchased ClipperCreek, a producer of charging points, in November 2021.

Current Products

Enphase has been selling its “IQ” series micro-inverters since 2017. These devices feature a streamlined wiring arrangement with two conductors (instead of four), which does away with the necessity for a neutral line. The IQ6 was the first to be released, with the earlier M215, M250, and S280 staying in production but being modified to use the updated cabling system. The revised IQ7 series debuted in 2018, and the IQ8 followed in 2021. With the addition of the IQ8, electricity generation can continue during daytime grid disruptions without using batteries. In 2022, the company also launched the IQ Battery, which is a residential energy storage system/device.

CEO – Badri Kothandaraman

Badri Kothandaraman is the current CEO of Enphase Energy. He joined the company in 2017 as its COO and was later appointed as the CEO and President. He has over 21 years of experience in product development and management in the semiconductor sector. He has a B. Tech degree from IIT Madras and also a Master’s degree from U.C Berkeley. Badri’s expertise in his field is evident from the fact that he holds eight patents in the USA.

Founders – Raghu Belur, Martin Fornage

In 2006, Martin and Raghu Belur formed Enphase Energy together. Martin Fornage oversaw technology development at Enphase for the first microinverter system in history. From 2006 to 2019, Martin served as Enphase’s chief technology officer, leading a team that created the cutting-edge technologies essential for upcoming energy systems. On the other hand, Raghu Belur was instrumental in creating Enphase’s most advanced integrated energy system.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

American Express – Offering Payment Card Services Since 1878.

American Express (Amex) is a popular company offering payment card services. One thing that has stayed constant throughout the company’s evolution from logistics operations to travel to cards to cutting-edge digital products and services: is its steadfast dedication to gaining its clients’ long-term loyalty.

About The Company

Founded in 1850, American Express is a reputed American multinational company headquartered in New York City, USA. The company is part of the 30 prominent companies listed in the Dow Jones Index. Its logo, which was adopted in 1958, is a gladiator which can be found on its popular products like credit cards, charge cards, and traveler’s cheques. In 2016, 22.9% of all credit card payments in the United States were made using credit cards connected to the American Express network. As of 2019, the corporation had 114.4 million active cards worldwide. IN 2020, the company was ranked 28th in the Forbes list of the World’s Most Valuable Brands. It was ranked 8th by the Fortune 100 Best Companies to Work For in 2022.

History Of The Company

American Express was founded in 1850 by the merger of three companies. Initially, the company’s main line of business involved the delivery of goods, packages, and valuables. It started selling financial solutions to its customers in 1878. It developed a business-to-business service with agents purchasing goods for their customers at competitive prices.

The company introduced Travelers Cheque in 1891, making it easier for travelers to feel secure with their cash. When World War I broke out in 1914, the corporation used its contacts abroad to assist more than 150,000 stranded Americans. They assisted clients with cashing their Travelers Cheques and setting for secure transportation home. Amex launched its first credit card, the Charge Card, in 1958, giving clients greater flexibility than Travelers Cheques and contributing to the development of credit cards in the financial industry. The business also began selling its Corporate Card, a credit card, to business clients in 1966.

Although the company’s global reach dates back to 1895, it only began to develop its credit card program internationally in 1972, paving the path for other companies to follow. In 1991, American Express introduced its first loyalty program and membership rewards, providing its clients more significant advantages and incentives for using their cards. American Express rewards continue to be among the most lucrative even today. From modest beginnings with quick delivery, American Express has grown its capabilities and transformed its business strategy to grow into a recognizable brand worldwide.

American Express Cards

American Express unveiled the Gold Card in 1966. The corporation introduced the Platinum Card in 1984, establishing distinct market groups within its own organization—a strategy that has spread across a wide range of businesses now. The Platinum Card had a $250 yearly cost and was advertised as super-exclusive. Prior to 2019, it was only available by invitation to American Express cardholders who had been using the card for at least two years, had made sizable purchases, and had a good payment history. As of 2019, anyone can apply for this card. The Optima card was the first credit card product offered by American Express that did not require full payment at the end of the month. It was launched in 1987.

Founders – William Fargo, Henry Wells, John Butterfield

American Express was founded on March 18, 1850, by William Fargo, Henry Wells, and John Butterfield. It was a merger of three companies named Wells & Co (owned by Henry Wells); Livingston, Fargo & Co( owned by William Fargo).; and Butterfield, Wasson & Co( owned by John Butterfield. The company’s President was Henry Wells, and its Secretary was William G. Fargo.

CEO – Stephen Squeri

The CEO of American Express is Stephen Squeri. He has been serving as the company’s CEO since 2018. In 1985, Squeri started working for American Express as a manager in the Travelers Cheque Group. He has also been the company’s vice-chairman since 2015; before that, he served as group president of the company’s global corporate services division.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

Whirlpool Corporation – Started With Its First Big Order For 100 Washing Machines.

Leave a Comment / Story, Tech Story / By Sandhya Gupta

Whirlpool Corporation is a popular household name in the arena of laundry and kitchen electronics. Its top-class home appliances make life better at home. Through its iconic brand portfolio, which includes Whirlpool, Maytag, Amana KitchenAid, Consul, Brastemp, JennAir, Bauknecht, Yummly, and Indesit, the company is pushing intentional innovation to address the shifting requirements of customers in an increasingly digital age.

About The Company

Founded in 1911, Whirlpool Corporation is a leading American multinational company in the business of manufacturing and marketing home appliances. It is headquartered in Michigan, USA. The company’s most popular products include washing machines, refrigerators, air conditioners, dishwashers, cooking appliances, etc. It is a Fortune 500 company with having annual revenue of over 21$ billion. The company has over 70 manufacturing and tech research centers worldwide. The company operates in four segments: Asia, North America; Latin America; Europe, the Middle East, and Africa.

History

Whirlpool Corporation was founded by Louis Upton and Emory Upton in 1911. It started under the name of Upton Machine Company. The company received its first big order for 100 washing machines from Federal Electric. However, a problem arose when there was a failure in gear transmission in all the machines. The company, however, replaced the faulty components with new cut-steel gear. Federal Electric doubled its purchase to 200 washing machines after being pleased with the startup company’s ethical business practices. They remained Upton’s customer for three years till they started producing their own washing machines. In 1916, Upton got another major customer, Sears Roebuck & Co. Sears sold two varieties of Upton’s washing machines under the brand name ‘Allen’. Soon Sears appointed the Upton company as its sole supplier of washing machines. Upton later started marketing its washing machines under its own brand name. In 1929, the company merged with the Nineteen Hundred Washer Company of New York and together formed Nineteen Hundred Corporation.

Despite the 1930s Great Depression, the corporation made investments in innovation and expanded into foreign markets. In 1947, the company debuted an automatic spinner-style washer that Sears sold under the “Kenmore” name. Later the company began selling it under the “Whirlpool” brand. In 1949 the company’s name was changed to Whirpool Corporation to help people recognize the company’s distinctive brand.

Whirlpool’s Entry Into India

In the late 1980s, Whirlpool Corporation debuted in the Indian market as a part of its goal of worldwide expansion. It constructed its first production plant in Puducherry, producing washing machines, in a joint partnership with the TVS Group. Whirlpool entered the refrigerator market when it bought Kelvinator India Limited in 1995. In the same year, the company bought significant stakes in the TVS joint venture. In 1996, the TVS and Kelvinator combined to become Whirlpool of India Limited. This increased the company’s product line in India to include air conditioners, microwave ovens, refrigerators and washing machines. With its main office in Gurgaon, Whirlpool India also has production plants in Pune, Puducherry, and Faridabad.

Founders – Louis Upton, Frederick, and Emory Upton

In 1908, the founder of Whirlpool Corporation, Louis Upton, invested in a company manufacturing household equipment. However, the business failed, and Upton, in return for his investment in the company, acquired the company’s patent on a manual washing machine. With the idea of adding an electric motor to this washing machine, he approached his uncle Emory Upton, an owner of the machine shop. With funding of $5000 from Lowell Bassford, the duo began the production of electric washing machines, which led to the establishment of Upton Machine Company in 1911. Later Louis’s younger brother Frederick also joined this company.

CEO – Marc Bitzer

In 2017, Marc Bitzer was named the CEO of Whirlpool Corporation. Later in 2019, he was also elected as the Chairman of the Board. He has been associated with Whirlpool since 1999 when he joined Whirlpool Europe as its vice-president. He has completed his MBA and Doctorate from the St. Gallen Graduate School of Business, Economics, and Law in Switzerland.

Whirlpool Corporation continues to be a popular choice in home electronics worldwide.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

Zomato – A Popular Food Delivery Giant In India.

Leave a Comment / Story, Tech Story / By Sandhya Gupta

One of the most popular on-demand meal delivery services, Zomato, enables consumers to find restaurants and have their food delivered right to their door. It is the go-to food delivery platform for the majority of Indians and continues to be the first choice of people when it comes to restaurant searching.

About The Company

Founded in 2008, Zomato is a popular food delivery giant in India. It is a platform that links customers with delivery services and restaurant partners to meet their various demands. Customers use Zomato to find restaurants, order food delivery, reserve a table, and pay for meals when dining out. Headquartered in Gurugram, Haryana, Zomata now has a presence in over 24 countries including the UK, US, and Australia.

History

When Zomato was founded it was initially named FoodieBay. However, in 2010 the founders of the company renamed it Zomato in order to avoid any trademark issues with eBay. In 2011, the company expanded its domestic operations across major cities in India like Delhi NCR, Bangalore, Mumbai, Pune, Hyderabad, Chennai, and Ahmedabad. Later in 2012, it also increased its international presence by launching its operations in countries like the UK, South Africa, Qatar, UAE, the Philippines, and Sri Lanka. In the next 1-2 years, it expanded itself globally across many nations including Canada, New Zealand, Portugal, etc. The company entered the USA and Australian markets in 2015, by the acquisition of an American restaurant discovery platform Urbanspoon. Zomato’s entry into the USA put it in direct opposition to other services with similar business models, like Yelp and Foursquare. Later on, in the same month, it bought Mekanist, a restaurant discovery platform in Turkey. In February 2015 as part of an effort to diversify its income beyond restaurant listing, It launched an online payment system called Zomato Cashless in affiliated restaurants in Dubai. However, the company discontinued this payment service after a few months.

In 2015, Zomato began its food delivery services by partnering with Delhivery and Grab. The idea was to provide delivery services to restaurants that lacked their own delivery service. In 2017, it launched Zomato Gold, a paid membership service that allowed users to receive deals and discounts on dining out and food deliveries at Zomato-partnered restaurants. In 2018, Zomato became a ‘unicorn’ by raising 200$ million through Ant Financial which valued the company at 1.1$ billion. In the same year, Zomato bought WOTU( rebranded as Hyper pure), which is a B2B platform, in its effort to supply restaurants with food ingredients like meat, vegetables, and grains from the company’s warehouses.

In 2020, as a result of the Covid pandemic and increase in demand for online groceries, Zomato introduced Zomato Market across 80+ cities in India. However, in June 2020 Company shut down its Zomato Market initiative as the business wasn’t scalable. In 2021, Zomato became India’s first unicorn to go public by offering its IPO( Initial public offering) in the stock market.

Acquisitions

Over the past few years, Zomato has acquired many local and international startups like Menu-Mania, lunchtime.cz, obedovat.sk, Gastronauci, Cibando, Urbanspoon, Mekanist, MapleGraph, NexTable, Sparse Labs, Runnr, TongueStun Food, TechEagle Innovations. In 2018 Zomato bought TechEagle Innovations, which specializes in drones, thus working towards a drone-based food delivery system in India. Other popular acquisitions include UberEats and Grofers. In 2022, It approved the acquisition of Blinkit, a grocery delivery platform, in an all-stock deal worth Rs. 4447 crores.

Founders – Deepinder Goyal and Pankaj Chaddah

Zomato was built by Deepinder Goyal and Pankaj Chaddah in 2008 as a platform called “Foodiebay,” which listed restaurants and food. Both the founders met while working at a company called Bain Consulting. They both are graduates of IIT-Delhi. By 2011, what had initially been a small concept had become a one-stop destination for anyone searching for restaurant recommendations, reservations, ratings, reviews, and other information.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

Daewoo Electronics – The Third Biggest Electronics Company In South Korea.

Leave a Comment / Story, Tech Story / By Sandhya Gupta

Daewoo Electronics, now known as Winia Electronics, is a leading South Korean consumer electronics company. Since its founding in 1971, the company has expanded into a global enterprise with more than 64 manufacturing facilities, R&D centres, and sales offices across more than 40 nations.

About The Company

The UK arm of the company, known as Daewoo Electronics Sales UK, was founded in 1993. It is now the third biggest electronics company in South Korea. The UK operation manufactures a variety of consumer home appliances like freezers, refrigerators, washing machines, vacuum cleaners, ovens, etc. The company also acts as an OEM(original equipment manufacturer) to former Daewoo Motors subsidiaries like GM Korea and Tata Daewoo by supplying them with various automotive accessories and equipment. The company also ventured into the computer space by manufacturing Daewoo CPC-300, which was based on the MSX standard. The CPC-300 and CPC-300E are the two different models of this computer.

History

Daewoo Electronics was part of the Daewoo Group founded by Kim Woo Choong. The parent company was declared bankrupt in 1999 because of the Asian financial crisis. Before this economic crisis, the Daewoo Group had a considerable presence in South Korea, where it was the second-biggest conglomerate after Hyundai Group. After the bankruptcy, the company was owned by a group of creditors.

Acquisition

In 2010 Entekhab Industrial Group of Iran offered the creditors to buy Daewoo Electronics for $529 million. The Iranian company had to compete with a Sweden company named Electrolux for this acquisition. The creditors accepted Entekhab’s offer and signed a deal. Entekhab made a security deposit worth 49$ million to the creditors. However, in June 2011, Daewoo’s creditors, led by the government-run Korea Asset Management Corp (KAMCO), terminated the agreement and kept the deposit after Entekhab missed a payment deadline and requested a discount. The creditors and KAMCO also began talks with Electrolux to sell the company. Entekhab stated that they believed the termination of the agreement to be unlawful and threatened to take legal steps to prevent the company’s sale to Electrolux. Later, Entekhab requested the deposit’s recovery, but the creditors rejected it, blaming Entekhab for the cancellation. The matter eventually went to the International Center for Settlement of Investment Disputes (ICSID), which ruled in favor of the Iranian company and ordered 62.9$ million in compensation to them.

In 2013 Daewoo Electronics was bought by the Dongbu Group( DB Group) in a deal worth 270$ million. In 2018, Daewoo Electronics was sold by the DB Group to Winia Group.

Jinkyun Choi – CEO

In 2014, Choi Jin-Kyun took over as the CEO and vice-chairman of Daewoo Electronics replacing Lee Jae-Hyung. Lee, who had served the company as CEO for 15 months, had to resign from his position owing to his health concerns. Choi spent three years as the vice president of Samsung Electronics’ consumer electronics division before joining Daewoo Electronics. At Samsung, Mr. Choi created high-end consumer electronics. He took part in aggressive marketing campaigns, turning around the Samsung consumer electronics business’s position that had been losing money for a while. He helped Samsung Electronics reach a 10 percent or more significant global market share for home appliances like washing machines, refrigerators, and air conditioners.

High-quality products that consumers can trust have helped Daewoo Electronics establish itself as a trusted household name. The company focuses on its customer support services while emphasizing quality, creativity, and performance. Through this use of cutting-edge technology and a dedication to creativity, durability, value, and perfection in design, Daewoo Electronics still maintains a good position in the consumer electronics market.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

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