iPhone-maker Apple reveals that it will miss revenue estimates by $9 billion. And guess what? In a letter to investors, Apple CEO Tim Cook revealed that the iPhone-maker was witnessing “weak demand” as consumer upgrade cycles are getting longer. Given that iPhones command the biggest share of Apple's revenue pie, a slowdown there indicates a real problem. Apple needs to fix it soon!
YourStory’s top 25 newsmakers of 2018
In 2018, we saw startups inch closer towards profitability and some even achieve it. We saw startups across sectors and in various stages receive funding from Indian investors, with great interest and participation from their global counterparts. Who are the inspiring individuals who led their firms to new heights in 2018 and who, we believe, will steer their companies to even greater heights in 2019 and continue to dominate the headlines this year too?
What is Amazon CTO Werner Vogels’ biggest regret?
While he has played a key role in driving the technology vision of one of the world’s most valuable companies, Werner Vogels also has certain regrets from his journey at Amazon. He has been with the company for over 14 years and is widely acknowledged as one of the key architects behind Amazon’s cloud computing approach, Amazon Web Services.
Investor sentiments for 2019!
2018 was an important year – for it signalled the Indian startup ecosystem was maturing. With the blockbuster Flipkart-Walmart deal, many investors said 2018 was a watershed year for the Indian startup ecosystem. What about 2019 now? What is the investor sentiment? And what are they expecting from the ecosystem in 2019? We find out.
OYO introduces OYO Assist
To ensure a hassle-free booking experience for its customers, OYO launches OYO Assist. It is an in-application support platform that provides end-to-end automated resolution to customers and promises to give customers a customised stay by transforming the hotel’s digital ecosystem into a personal hotel assistant.
CarDekho raises $110M
CarDekho raised Series C funding of $110 million from Sequoia India, Hillhouse, CapitalG (Alphabet growth investment arm) and Axis Bank. The company will use the fresh funds to enhance focus on the used-car segment of the market and build a strong foundation in transaction services, including insurance and financing.
BigBasket’s wholesale unit narrows loss
BigBasket’s wholesale arm Supermarket Grocery Supplies Private Ltd narrowed its loss by a whopping 53 percent to Rs 310 crore from Rs 653 crore in FY17. It also reported a revenue increase of 35 percent to Rs 1,606 crore in the financial year 2018 from Rs 1,176 crore in FY17. With two large players, Amazon and Flipkart entering the online grocery market, competition has been on an upward trajectory.
Top startup challenges in 2019
A survey by LocalCircles found that taxation raising funds are major challenges for startups in India in 2019. The year 2018 did not end on a high note for the Indian startup ecosystem as the demon of angel tax dampened their spirits once again. But these young firms are cautiously optimistic about 2019, with a focus on increased hiring and aggressive growth plans.