Chasing customer retention

Hi reader,

The internet’s favorite celebrity is back. After nine days of silence, Elon Musk has resurfaced on Twitter – with a photo with the Pope.

If you’re curious as to why he met the Pontifex Maximus, get in line. Neither where nor why Musk met the Pope has not yet been revealed.

In other news, Hewlett-Packard Enterprise has entered the OTT market with what it calls the “world’s first fintech sitcom.” Released in collaboration with NVIDIA, it’s called moving forward and the first episode just dropped.

Think Netflix’s Weird stuff isn’t the only show to grab attention this weekend.


MoEngage: what led to it?

In 2014, Raviteja Dodda and Yashwanth Kumar launched MoEngage, an insight-based customer engagement platform that takes a customer-centric approach and enables personalization at scale across mobile, email, web, SMS and messaging channels using AI and built-in analysis .

“When MoEngage started, we had only one guiding light: to build the world’s most trusted customer engagement platform,” said Raviteja, CEO of MoEngage, your story

Startup:

  • In the past 12 months, the Bengaluru-based startup has raised three rounds: $32.5 million in July, $30 million in December and in the latest, $77 million last month.
  • It has more than 1,200 customers and nine offices in 35 countries. Some of its clients include Samsung, Vodafone, Sharechat, Roposo, Ola, OYO, and Bigbasket.
  • In the coming months, it plans to increase its geographic footprint in the US, Europe, Asia and the Middle East and expand into new markets such as Latin America and Australia.


Retrain now and pay later

The pay-after-placement model is getting some traction in India, especially when it comes to upskilling. After all, Statista predicts that India’s upskilling edtech industry will be worth $0.73 billion by 2025.

Responding to this growing need for upskilling coupled with a focus on placement, serial entrepreneurs Bharat Gupta and Pritesh Kumar launched ‘FunctionUp’ in 2021. The goal was to bridge the gap between college education and the skills needed for a job – with a paid post-placement business model.

Get retrained:

  • FunctionUp has launched nine cohorts and students from three cohorts have already graduated.
  • Nearly 75 percent of students are placed immediately after course completion, 20 percent within three months, and the remaining 5 percent within a year of course completion.
  • It signs an Income Share Agreement (ISA) with its students, whereby they pay 17 percent of their monthly salary to FunctionUp for 36 months.

“We are closely linked to the industry. We know the skills required in the industry and in an entry-level job. We are confident in our program, so we don’t charge in advance. We only charge after we place the students,” said Bharat.


Real estate in the metaverse

There is real estate in the metaverse and you can buy it. According to Technavio, the global metaverse real estate market will grow at a CAGR of 61.7 percent to $5.37 billion between 2021-26.

The virtual ecosystem replicates real world situations and integrates technologies including augmented reality, virtual reality, etc. to create a digital world where users can participate, play and converse as they do.

Who does what:

  • London-based ‘Metamall’ allows users to explore, build and trade its virtual mall, and use its own token MALL to own virtual real estate.
  • Singapore-based FiEx, as part of the District Rubicon project, lets users build and manage virtual real estate.
  • In March 2022, pop singer Daler Mehndi bought virtual land in the Hyderabad metaverse of PartyNite and named it ‘Balle Balle Land’.

Representative image


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