To push profitability, Chingari is spending less than 1 Cr a month on user acquisition; the startup is also focussing on streamlining its workforce Inc42 reported earlier that Chingari was seen building an adult entertainment app with salacious ads and promos In FY22, it reported a net loss of INR 139.4 Cr, a jump of 225.7% from INR 42.8 Cr in FY21 Short-video sharing platform Chingari has turned operationally profitable, Chingari CEO and cofounder Sumit Ghosh claimed.  “We are finally profitable and will do business with our monthly revenues from now on. Not burning VC cash anymore or need to raise to sustain the business. We still have a few million USD left in the bank, which we have kept aside for the rainy days,” Ghosh claimed on Twitter. The announcement comes at a time when Chingari has laid off more than 50% of its workforce in the second round of layoffs within two months. The layoffs impacted employees from product, customer support, design and marketing teams. Navigating the Path to Profitability In the startup’s early stages, he stated that the primary objective was rapid growth, regardless of cost. The startup invested heavily in acquiring users through inorganic means without giving much thought to revenue generation or a sustainable business model, he said. He was of the view that money would follow if Chingari was able to show growth.  “In 2022 Markets turned, mid of 2022 even though we were growing at 500K downloads a day, no VC would take a bite as there was no clear monetisation plan. I realised this won’t lead us anywhere, reduced all inorganic media buys, focused on quality user acquisition, users who can be monetised,” Ghosh added. At present, the startup is allocating less than INR 1 Cr per month for user acquisition, with a Customer Lifetime Value (LTV) to Customer Acquisition Cost (CAC) ratio of 4:1. Chingari kicked in monetisation strategy in May 2023 and anticipates improved financial metrics soon. According to Ghosh, profits generated each month will be reinvested to fuel further growth. “When we raised funds, specially around GARI launch, we had raised lots of capital. We thought oh now we will become a big company, we need to hire professional people across the board, this was our biggest mistake, along with the good guys, we actually hired a bunch of corporate bozos who just came, did nothing, gave corporate Gyan and warmed chairs all day and left,” Ghosh said in his recent Twitter post. Ghosh added that the Bengaluru-based startup eventually fired them due to low delivery, while the startup overspent on this talent pool. He also acknowledged that building a D2C business and figuring out a viable business model is difficult in India as the companies have to pay Google or Facebook to acquire users, Google or Apple 30% tax on all the store billed payments, pay a GST on the income from users, among other expenses. Last week, the startup laid off more than 50% of its workforce after firing 20% of its workforce in June. Chingari now has an employee base of 50-60 only following the latest round of layoffs.  While it is cutting costs on employee expenses and finding more avenues to profitability, it recently became a digital partner of the UK-based Southall FC, an eighth-division football club. Chingari will offer a range of digital services to help enhance the club’s online presence and fan engagement. Chingari In Troubled Waters Founded in 2018 by Sumit Ghosh, Aditya Kothari, Biswatma Nayak and Deepak Salvi, Chingari rose to prominence after the Indian government banned Tiktok and other Chinese apps in 2020, citing security concerns. Earlier this year, its cofounder, Kothari, exited the startup. At the beginning of this year, Chingari received an undisclosed amount of equity funding from Aptos Labs, the company behind the launch of Layer 1 blockchain Aptos. Last year, the short video startup secured $15 Mn in a funding round led by Republic Capital. In October 2021, it introduced a crypto token named $GARI and a non-fungible token (NFT) marketplace. $GARI is the native token of Chingari and enables short-form video creators to monetise their content on the blockchain. As per CoinMarketCap, GARI was trading at a value of $0.01393 on Monday (August 28th), 98.67% down from its highest value of $1.05 in January 2022.  This year, Chingari forayed into 18+ content with paid live one-on-one calls between creators and users to improve engagement and increase app downloads. In an extensive investigation, Inc42 also found a series of recruitment posts for creators with promises of big payouts, in addition to several social media ads and videos featuring salacious promises. The creators on the platform were found encouraging users to make 1-on-1 calls, and most users tend to accept them upon receiving an in-app gift. While it could be one of the ways to monetise the platform, the moral and ethical questions arise if Chingari can take this route. In FY22, the startup reported a net loss of INR 139.4 Cr, a jump of 225.7% from INR 42.8 Cr in FY21. Meanwhile, the total income rose 137X to INR 49.4 Cr from INR 36 Lakh in FY21.

Apple CEO Tim Cook is not too prolific on social media. He has a Twitter (now known as X) account but he isn’t one of those who posts daily on social media. Which is why it came as a surprise when an Instagram account under his name was spotted. A report by 9to5Mac reveals that the account — which is followed by senior Apple executives — is actually a fake one. The account does look ‘real’ and till now has just two posts. One was made on August 20 — World Photography Day — and shared two images clicked by the iPhone. The second post is related to an ad campaign by Apple. The fake account is followed by two senior Apple vice presidents — Lisa Jackson and Alan Dye. A few other Apple employees also follow the fake account, reveals the report. Not too active on social media As mentioned above, Cook doesn’t have too many social media accounts. He does have an account on Weibo — the Chinese social media platform but apart from that Cook doesn’t do too much social media. While Apple does have official accounts on TikTok, and Instagram, the company CEO has refrained from making personal accounts on any of those platforms. Meanwhile, we can expect Cook to soon share a few posts on X in the next month. Apple is expected to reveal the new iPhones sometime in September. Traditionally, Cook does make a few posts. One on the event day and then after the iPhones are announced. He also generally posts on the day the iPhones are expected to go on sale. Otherwise, Cook’s posts are far and few in between and are focused on Apple. Cook doesn’t use his X account for anything personal but his posts are about important Apple announcements, or images clicked by iPhones or when he wishes people on some festive occasions.

Better.com CEO Vishal Garg is known most for his infamous Zoom call in 2021 during which he fired over 900 employees. During the brutal call, he reportedly accused at least 250 terminated employees of stealing from the digital mortgage company by over-reporting their working hours. Garg is said to have later admitted to his remaining staffers that he had “blundered the execution” of the job cuts. But despite that since 2021, Better.com has laid off over 90% of its workforce. In 2022, Better.com merged with SPAC Aurora Acquisition Corp. The combined entity is called Better Home & Finance Holding Company. The company recently made its public debut Thursday on Nasdaq Capital Market. On the occasion, Garg spoke to TechCrunch. He answered a number of questions including that infamous Zoom call.What Vishal Garg saidWhile answering a question on how he has worked to rebuild trust within, and outside, the company, Garg replied. “A lot of leadership training. I think I was very mission-centric, customer centric, and really, really focused on what it took to drive growth. And I think I’ve learned now that in order for our customers to be delighted, our teammates also have to feel delight. So I’ve worked really, really hard to change the way that I show up to the team every day, and to be more empathetic and to treat them with the same level of kindness that I showed our customers.”“And then the second thing is we’ve continued to innovate on our mission, which is to make homeownership more affordable and more accessible, and ultimately the 1,000 people that are at Better.com today are driven not just by me but really by our mission, which is to make homeownership more affordable and more accessible,” he added.

Connect with Mr. Ramakrishnan M https://www.linkedin.com/in/ramakrishnanm/ Mr. Kapil (KK) https://www.linkedin.com/in/kapil-kumar-kk-9bb5452a/ 9953031985 🎉 Welcome to CROSSROADTIMES – Your Gateway to Success and Inspiration! 🌟 🎙️ Join us for an electrifying episode featuring Mr. Ramakrishnan M, a Venture Capitalist, Director of Growpital, and an astute investor at Zypp. Hosted by the dynamic Mr. Kapil Kumar, a serial entrepreneur, growth expert, and investor, this episode is a treasure trove of investment wisdom and entrepreneurial insights. 🚀 In this podcast, Mr. Ramakrishnan shares his extraordinary journey from the corporate world to the realm of entrepreneurship and investment. Discover how he navigated challenges and built a successful career in the startup ecosystem. Get ready to gain valuable insights into the art of smart investing, nurturing startups, and building a thriving portfolio. 💼 Whether you’re an aspiring entrepreneur, a seasoned investor, or simply curious about the world of investment, this episode offers a wealth of knowledge and inspiration. 🎧 Don’t miss out! Hit that ‘Subscribe’ button and stay tuned for more engaging conversations with industry leaders, hosted by the remarkable Mr. Kapil Kumar. Timecodes:- 🎙️ 00:00 Introduction 📈 01:02 Mr. Ram’s Journey into Investment 🌾 04:45 The Fascination with Farming for Investors 🤖 09:27 AI’s Impact on Agriculture 💡 12:30 Top 5 Agricultural Challenges 😄 14:57 Hilarious Moments Working with Farmers 💰 17:40 Parameters for Startup Funding 🚀 25:00 Validating Your Business Idea 💎 28:20 Navigating Startup Valuations 🦈 31:00 Ram’s Take on Shark Tank ☕ 32:34 Chai or Beer: The Ultimate Choice 📊 36:00 Deciphering Pitch Decks from an Investor’s Lens #InvestmentInsights #AgricultureTech #StartupFunding #BusinessValuation #SharkTankIndia #PitchDeckTips #IndianStartups #AgricultureChallenges #StartupEcosystem About Crossroadtimes :- We believe in empowering you with the knowledge and strategies to unleash your full potential. Whether you’re an aspiring entrepreneur, a go-getter looking for inspiration, or an industry expert seeking valuable tips, this channel is your ultimate resource. 🎥 Each video is carefully crafted to provide you with actionable advice, thought-provoking discussions, and real-life experiences that will elevate your business and personal life. 🔔 Hit that subscribe button and ring the notification bell so you never miss a moment of our content. Join our vibrant community of like-minded individuals and be part of a journey that leads to success, fulfillment, and continuous growth. 🌟 Let’s thrive together, overcome challenges, and celebrate achievements as we navigate the path to greatness. Are you ready to embrace the limitless possibilities? Subscribe now #CROSSROADTIMES and let’s unlock your potential together! 🚀✨ ——————————————————————————— ✅ Follow Crossroad Times Social media Handles :- Facebook :- @crossroadtimes https://www.facebook.com/crossroadtimes Instagram :- @crossroadtimes https://www.instagram.com/crossroadtimes/ Linked.in :- @crossroadtimes https://www.linkedin.com/company/crossroadtimes/ Twitter :- @crossroadtimes Tweets by CrossRoadTimes 🎉 Calling all Achievers and Visionaries! 🌟 If you have a remarkable success story to share, an inspiring journey that the world needs to hear, or valuable insights that can ignite growth, we want to hear from you! 📩 Contact our passionate podcast team at crossroadtimes@gmail.com and let’s create magic together! 🎙️ Whether you’re an accomplished entrepreneur, an industry trailblazer, or someone who’s overcome significant challenges, we’re eager to showcase your achievements and inspire our global audience. More :- WWW.CROSSROADTIMES.COM source

One of the crucial mistakes made by healthcare startups is failing to comprehend the complexity of the industry Further, many healthcare startups rely heavily on venture funding while innovating endlessly, without a clear path to profitability Entrepreneurs must understand the intricacies of the industry, collaborate with stakeholders and prioritise user needs and market research In recent years, the healthcare industry has witnessed an explosion of startups promising innovative solutions to revolutionise patient care, improve accessibility, and reduce costs. However, amid the buzz and excitement, many of these ventures failed to achieve their goals. The reasons behind the downfall of these healthcare startups are multifaceted, but a critical analysis reveals common mistakes that can serve as valuable lessons for entrepreneurs and investors alike. Typical Mistakes Healthcare Startups Make While technology has the potential to transform healthcare, some startups have fallen into the trap of developing solutions solely for the sake of innovation, rather than addressing the needs of patients, providers and payers.  Ignoring user-centric design principles and failing to conduct comprehensive market research often results in products and services that fail to gain traction or align with existing workflows, hindering adoption and scalability. Healthcare startups also fail to comprehend the complexity of the industry and neglect establishing partnerships with established healthcare providers, regulatory bodies and medical professionals. Ignoring the valuable insights these stakeholders bring to the table often leads to a disconnect between the startup’s vision and the realities of healthcare delivery, resulting in unsustainable business models. Further, many healthcare startups rely heavily on venture funding while innovating endlessly, without a clear path to profitability. Such startups struggle to identify and implement viable revenue models and are at a high risk of capitulating. Sustainable business models should consider factors such as reimbursement mechanisms, pricing structures and strategic partnerships to ensure long-term viability. Healthcare is also a highly regulated industry and startups must navigate the complex legal frameworks to ensure compliance with privacy, security and data protection regulations. Neglecting these crucial aspects can lead to significant setbacks, loss of trust and even legal ramifications. Further, ethical considerations, such as maintaining patient confidentiality, respecting consent and ensuring equitable access, must be ingrained in the startup’s core values. Bouncing Back From Failure The rise and fall of healthtech startups can be put down to any number of mistakes, but the lessons derived from these failures are invaluable. Entrepreneurs and investors must understand the intricacies of the healthcare industry, collaborate with established stakeholders and prioritise user needs and market research. By doing so, they can foster a culture of innovation and build startups that truly transform healthcare, benefiting patients, providers, and the industry. The future of healthcare entrepreneurship depends on our ability to acknowledge past failures and embrace a more informed, collaborative and user-centric approach to building and scaling startups in the healthcare landscape.

In a recent development, India’s Computer Emergency Response Team (CERT-In), operating under the Ministry of Electronics and Information Technology, has issued a high-severity warning to Google Chrome users regarding multiple vulnerabilities found in specific versions of the popular web browser. This advisory is crucial for anyone using Google Chrome as it highlights potential risks associated with these specific browser versions.What’s the warningThe advisory states that “Multiple vulnerabilities have been reported in Google Chrome which could be exploited by an attacker to execute arbitrary code and gain access to sensitive information on the targeted system.” This is a serious matter that demands immediate attention to protect users’ data and systems from potential breaches.These vulnerabilities, classified as high-severity, are attributed by CERT-In to several factors, including ‘use after free’ scenarios in prompts, Web Payments API, SwiftShader, Vulkan, Video, and WebRTC. Additionally, a heap buffer overflow in Video and an integer overflow in PDF have also contributed to the issue. The concerning part is that a remote attacker could potentially exploit these vulnerabilities by luring unsuspecting victims to visit maliciously crafted web pages.Here is a list of the vulnerabilities highlighted by CERT-In: CVE-2023-4427 CVE-2023-4428 CVE-2023-4429 CVE-2023-4430 CVE-2023-4431 Affected Versions: Google Chrome versions prior to 116.0.5845.110/.111 for Windows Google Chrome versions prior to 116.0.5845.110 for Mac and Linux What can users do?To safeguard your system and data, CERT-In strongly recommends that users immediately apply the latest available security patches for Google Chrome. On a positive note, Google has already released the latest version of Chrome, which includes fixes for these vulnerabilities.

Elon Musk‘s social media platform ‘X’, previously known as Twitter, has announced a few updates focusing on video and media uploads.Longer videosAs a Premium subscriber, users can enjoy extended video options such as up to 2 hours of 1080p quality or 3 hours of 720p quality content. They can also access the media studio at http://studio.x.com, download videos from their timeline to their camera roll, and enable or disable video download for their own posts. Moreover, popular videos will now feature automatic captioning to enhance accessibility. With AirPlay support, users can stream videos from X platform to your TV, and multitask by using other apps while watching videos in picture-in-picture mode.Video playback controlsUsers can enjoy better control over video playback with features like adjustable playback speed, double-tap for fast-forwarding, and jumping back. Mobile users will experience improved quality in live broadcasts, while Android and iOS versions provide an immersive video player experience. Users can now speak and co-host in Spaces directly from the web version, and the platform now supports millions of participants in Spaces sessions.X: The Super appX aims to become a “super app” like WeChat, offering digital payments and other services. The company is applying for “money transmitter licence” in the US and has focused on growing video content on the platform, with vertical video now accounting for over 10% of time spent on the platform. Tucker Carlson recently launched a new show on the platform and the platform plans on selling ads and sponsorships alongside videos from Carlson and other content creators.Musk has launched a revenue sharing program for creators with large audiences, offering payment to those with more than 5 million tweet impressions per month for the last 3 months. To be eligible, users must have a Stripe account for payment and be subscribed to Twitter Blue. Last month, Musk announced that the first block of payments for creators would be $5 million.

Twelve out of the 16 new-age tech stocks under Inc42’s coverage gained in a range of 0.2% and over 7% this week Delhivery, IndiaMart, ideaForge, and Tracxn were the only losers this week, declining between 1% and 4% on the BSE In the broader market, Sensex fell 0.1% to 64,886.51 while Nifty 50 declined 0.23% to 19,265.8 this week, largely due to the weakness in global markets Indian new-age tech stocks largely witnessed a northbound movement this week despite the weakness in the broader domestic equity market. Twelve out of the 16 new-age tech stocks under Inc42’s coverage gained in a range of 0.2% and over 7% this week, while EaseMytrip emerged as the biggest winner with 7.3% gain on the BSE. Other gainers of the week included MapMyIndia (jumped 7.1%), Paytm (up 4.6%), CarTrade Technologies (up 3.8%), Nykaa (rose 2.8%), and Zomato (up 1.7%). Meanwhile, Delhivery, IndiaMart, ideaForge, and Tracxn were the only losers this week, declining between 1% and 4% on the BSE. In the broader market, Sensex fell 0.1% to 64,886.51 while Nifty 50 declined 0.23% to 19,265.8 this week. The indices fell sharply in two consecutive trading sessions on Thursday and Friday, largely due to the weakness in global markets. “Markets tumbled sharply tracking weak global equities, as rapidly-rising bond yields continue to weigh on the sentiment. Bets for more Fed rate hikes continue to boost bears’ confidence ahead of Jerome Powells’ speech at the annual Jackson Hole Symposium event,” said Prashanth Tapse, senior VP (research) at Mehta Equities. Tapse sees a possibility of a massive sell-off in the domestic market amid deteriorating technical and fundamental catalysts that are denting sentiments. The market is also expected to react to the upcoming annual general meeting of Reliance Industries on (August 28).  Besides, India’s Q2 GDP and Purchasing Managers’ Index (PMI) data in the coming week, along with cues from China, foreign investor activities, and fluctuations in the dollar index and US bond yields, will play a pivotal role in shaping market dynamics throughout the week, said Santosh Meena, head of research at Swastika Investmart.  Now, let’s take a detailed look at the performance of some of the new-age tech stocks this week. The 16 new-age tech stocks under Inc42’s coverage ended the week with a total market capitalisation of $36.36 Bn as against $34.45 Bn last week. Ant Group Offloads 3.6% Stake In Paytm Antfin (Netherlands) Holding B.V. sold 2.27 Cr shares or 3.6% stake of Paytm worth over INR 2,037 Cr on Friday. The latest share offloading came shortly after Antfin transferred 10.3% Paytm stake to founder Vijay Shekhar Sharma’s Resilient Asset Management via an off-market transaction. At the end of the June quarter, Antfin held 15.09 Cr shares or 23.79% stake in Paytm. Paytm shares saw a major jump mid-week, however, it ended Friday’s trading session in the red at INR 899.3 on the BSE. Overall, Paytm shares rose 4.6% this week. It is pertinent to note that Paytm also published its annual report for FY23 this week in which CEO Sharma informed stakeholders about the company’s intention to disrupt the small mobile credit market in the country. “By helping enable digital loan collection on app, we are now creating a small revolution for financial inclusion, where a loan of as small as a few hundred rupees can be disbursed and collected at very minuscule cost,” Sharma said. Following a significant rally in its shares in the last few months, the shares of the fintech major have gained almost 70% year to date (YTD). Rupak De, senior technical analyst at LKP Securities, said Paytm is currently in an uptrend and the support for the stock is at INR 880. “If it sustains above INR 880, then the uptrend might continue. Else, there could be some consolidation,” De said, adding that the overall trend is sideways to positive. The target for the stock in the medium term is INR 1,160 and it is INR 1,000 for the short term, he said. EaseMyTrip Biggest Winner After a significant downfall since last month, shares of traveltech giant EaseMyTrip regained momentum this week. Its shares jumped 7.3%, ending Friday’s session at INR 40.1 on the BSE. It is pertinent to note that EaseMyTrip was the second-biggest loser among the new-age tech stocks last week, with its share nosediving 7.5%. Its shares were largely hurt by Q1 results where it reported a decline in profit. However, this week, the stock gained in three consecutive sessions to emerge the biggest winner. LKP Securities’ De said that the stock is facing a near-term resistance at INR 42, which, if cleared, would make it rally towards INR 48 in the short term. EaseMyTrip’s support lies at INR 38, he added. While most of the new-age tech stocks have bounced back this year after the sharp falls in 2022, shares of EaseMyTrip are trading 24% lower YTD. Zomato’s Monetisation Experiments  Almost a month After Zomato started levying a platform fee of INR 2 per order for select users, the foodtech major increased the fee to INR 3 for some users in Tier II cities this week. While the fee was initially levied only on select users, the company told Inc42 that it would ultimately be applicable to all customers. However, the development is currently in the experiment stage. It must be noted that Zomato has been trying and testing different ways to increase its revenue. It also became profitable in the June quarter of FY24. Meanwhile, the lock-in period for investors who received Zomato shares following the Blinkit deal in August last year ended this week. As per reports, SoftBank is now looking to offload its shares in the company via block deals and book profit. Shares of Zomato slumped 3% on Friday alone, ending the week at INR 90.94 on the BSE. However, the shares gained 1.7% this week. The current support for the stock is at INR 88, said LKP Securities’ De. Till the time Zomato manages to sustain above this

Apple has announced the August update for its subscription-based online gaming platform – Arcade. This month, the platform is set to see a couple of new titles along with content updates on several popular titles including recently launched Hello Kitty, LittleTwinStars, etc. Here’s everything that’s coming to Apple Arcade in August. New games coming to Apple ArcadeApple Arcade, the popular gaming service, is set to introduce two exciting titles for gamers.Finity: Today, Arcade welcomes “Finity.,” a unique indie puzzle game that promises to offer a fresh and reimagined puzzle experience. This is a minimalist 2D game that blends elements from iconic puzzle games to offer a skillful yet satisfying journey. It draws inspiration from chess’s complexity, Tetris’s endless replayability and the gratifying feedback of match-three games.Samba de Amigo: Party-To-Go: The game will launch on August 29. This game marks the return of SEGA‘s beloved rhythm game series, bringing vibrant and modern rhythm action to your fingertips. As a contemporary sequel to the 2000s classic, players can enjoy the beat on the move. With exclusive tracks like PSY’s “DADDY (feat. CL),” Lady Gaga’s “The Edge of Glory,” and Fitz and the Tantrums’ “The Walker,” along with a series-first Story Mode, “Samba de Amigo: Party-To-Go” claims to deliver an exciting musical journey.Updates coming this monthHello Kitty Island Adventure: Launched in July, the game is currently the number 1 title on Apple Arcade with a remarkable rating of 4.9 out of 5 stars based on 31,000 ratings. The game will receive its first major update that will bring Kiki and Lala, the LittleTwinStars. Players can explore a new area, Cloud Island and join the Summer’s End in-game event running until September 29. This update also extends an invitation to discover Friendship Island.Halfbrick Fun event: Developer Halfbrick has announced an entertaining event across their hit games, including Jetpack Joyride 2, Jetpack Joyride+ and Fruit Ninja Classic+. Players can unlock exciting gear, such as a retro pixel Barry skin in Jetpack Joyride 2, the Fruit Flinger gadget in Jetpack Joyride+ and a Laboratory-themed Dojo in Fruit Ninja Classic+. Keep an eye out for more crossover events for these three games on September 8.Other Fun Updates: Several other games on Apple Arcade receive exciting updates:Stitch.: Introduces Rank Rewards, allowing players to collect points in Tiers to unlock newly added Rank Rewards Hoops.Subway Surfers Tag: Robo Road arrives, challenging players to defeat Guard and his Robots in Arenas while unlocking rewards, including characters and outfits. Each Arena now features three levels with unique upgrades and difficulty levels.Zookeeper World: Weekly Team Puzzle Events are now available, enabling players to team up with others to earn points and rewards.TIME LOCKER+: Three new special characters exclusive to Apple Arcade are introduced.Farmside: A new Restaurant building is added, where players can fulfill visitor orders to upgrade their restaurants.