hi,
It’s on the up and up for Zerodha.
The online brokerage platform saw its net profit grow 89% in the fiscal year ended March 2024, boosted by strong growth in revenue. Meanwhile, revenue from operations rose to Rs 9,372 crore or a little over $1.1 billion in FY24 compared to Rs 6,832 crore in FY23.
However, Sebi’s new fee circular could hamper the company’s growth in the near future, warned co-founder and CEO Nitin Kamath in an earlier blog post.
Meanwhile, Nikhil Kamath, his brother and co-founder of Zerodha, believes another definitive industry is men’s grooming, noting in a LinkedIn post that searches for ‘men’s skin care routine’ have grown 857% in the last five years.
Because of the blow-up, or rather, the glow-up? Social media validation and cultural change around male grooming.
Next up: the foldable iPhone.
Major upgrades are reportedly in store for the Apple iPhone. According to The Wall Street JournalThe tech giant could release foldable phones in 2025. Moreover, the large 19-inch screen, even at work, can compete with desktop monitors.
Finally, global temperatures hit a record high in 2024. However, there were many small climate victories along the way.
Are you a startup with an MVP ready to scale? Register now for Dell Entrepreneur Challenge Season 2 – a platform designed to accelerate your growth with funding, tech upgrades and VC access!
We will talk about it in today’s newsletter
- Bitcoin rallies on strong
- The yin and yang of upGrad biz
- AI is the bet for profitability
Here’s your trivia for today: Which sequel was the first to be nominated for Best Picture at the Academy Awards?
in depth
Bitcoin rallies on strong
What goes up must come down, and this is true for Bitcoin as well. Consider the price fluctuations of cryptocurrencies this year alone. In January, Bitcoin is around $42,000. Come March, its price zoomed to $73,000, only to reach $60,000 later.
On Monday, the price of bitcoin was $103,873, after rising as high as $106,509 on Sunday. But how long will the current procession last?
Why the rush?:
- According to many industry experts your story the price of Bitcoin is expected to rise in the coming year, but some corrections are also expected during this climb.
- Former US President Donald Trump has taken a pro-crypto stance, signaling hopes for a more favorable regulatory approach to the crypto market. If Trump changes his stance on wealth, the ecosystem could see a major shift.
- While the rallies in 2017 and 2020 can be attributed to investors introduced to crypto and large-scale token frenzy, the recent surge is due to “mature logic” as industry experts describe it.
EdTech
The yin and yang of upGrad biz
Photo: Nihar Apte
B2B or B2C? Which section to bet on? Where should the money go? These questions have long baffled edtech firms. But Srikanth Iyengar – CEO of upGrad Enterprises – the enterprise arm of upskilling platform upGrad – believes it’s no longer an either-or decision.
“B2C and B2B are yin and yang in some ways,” says Iyengar your story In an exclusive interview. “B2B is a very integral part of our business, and it complements what we have on the B2C side,” he adds.
Growth Drivers:
- The upGrad enterprise is generating strong revenue growth and is poised to be a major contributor to upGrad’s overall profitability in the future. Currently, 20-25% of edtech’s revenue comes from the B2B segment, while the rest comes from the B2C space.
- The growth in its enterprise segment can be broadly attributed to three key factors — deep relationships with customers; Focus on technology, including data and AI; and global expansion, particularly in North America and Europe.
- According to Iyengar, upGrad Enterprises programs not only explain the basic concepts of ML and AI but also highlight how businesses are expected to use/do GenAI, how the technology fits into the broader landscape, and what unique capabilities and applications it brings. Table.
Startup
AI is the bet for profitability
Bangalore-based full-stack customer engagement platform Axotel has reported profits with positive EBITDA in the third and fourth quarters of FY24. Adarsh Kumar, CFO of Exotel, attributed the company’s transformation to its focus on AI-driven initiatives, which have been the cornerstone of the company’s growth.
“It’s a combination of a number of factors. First, we’re growing our business in what we think is the future for all of us — the AI side of the business. That’s exciting to us, and we’re seeing a lot of traction in that space, it’s future-proofing and developing our business.” It forms a key driver in creating opportunities,” Kumar said. your story.
Roadmap:
- It reduced its annual loss by 65%, from Rs 108.8 crore in FY23 to Rs 38.8 crore in FY24, while revenue grew from Rs 420 crore to Rs 445 crore in the same period.
- With this momentum, Exotel is projecting 100% annual EBITDA growth for FY25 as it strengthens its market leadership by adopting emerging technologies.
- Looking ahead, Exotel aims to continue its growth trajectory by continuing to invest in AI, expanding its global footprint, and helping enterprises achieve better customer outcomes.
News and updates
- Investment: SoftBank CEO Masayoshi Son will announce a $100 billion investment in the U.S. over the next four years during a visit to President-elect Donald Trump’s Mar-a-Lago home on Monday. Son will also pledge to create 100,000 jobs focused on AI and related infrastructure in a joint announcement with Trump.
- Chip Dispute: A trial in a Delaware court will begin Monday in a legal battle between Arm and Qualcomm that could disrupt the wave of AI PCs. The more than two-year battle has pitted Arm, which licenses the basic technology used to design chips, against Qualcomm, one of its biggest customers.
- Online Security: The UK officially implemented its sweeping online safety law on Monday, paving the way for stricter monitoring of harmful online content and potentially huge fines for tech giants such as Meta, Google and TikTok.
Which sequel was the first to be nominated for Best Picture at the Academy Awards?
Answer: A bell for St. Mary. Nominated in 1945, the film was a direct sequel to the previous year’s Best Picture, going my way.
The Godfather II It was the first sequel to win an Oscar for Best Picture.
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