📑 BYJU’S adopts new strategies

Start Your Day with YS Buzz: Your 8 AM Snapshot of Today's Top Startup News! 10 May 2024 [View in Browser]( Hello, There’s another IPO in the offing. Go Digit General Insurance, which became India’s first insurtech unicorn in 2021, is set to [launch its IPO]( on May 15. The IPO will consist of a fresh issuance worth Rs 1,125 crore and an offer-for-sale component of up to 5.4 crore shares. Meanwhile, Uber has launched a new feature to provide [hyperlocal deliveries]( to users from stores near them to counter Ola’s hyperlocal aspirations. The new feature supplements its parcel delivery offering. In other news, the startup ecosystem is still banking on traditional sectors. Healthcare and advanced manufacturing sectors made up nearly 75% of private equity and venture capital deals in India in 2023, as per a [report]( by Bain & Co and IVCA. It predicted that traditional businesses will continue to attract outsized investments for 2024. Elsewhere, payments regulator NPCI is likely to extend its deadline to implement a 30% cap on the market share of individual UPI ecosystem participants, as per a TechCrunch report. This move is likely to benefit Google Pay and Walmart-owned PhonePe, which currently dominate the market. Also, Paytm’s share price hit the upper 5% circuit on the stock market after slumping to a 52-week low of Rs 310 a day before. The shares rose after the troubled fintech partnered with US-based Euronet Worldwide’s digital payment unit, Epay, to offer bill services through its app. [ICYMI:]( Why India’s health research body has cautioned against consuming protein supplements. Oh, and see how Priyanjali Gupta, a student at VIT Vellore, [translates]( sign language into English on video using an AI model. In today’s newsletter, we will talk about - BYJU’S adopts new strategies - Indian retail market to reach $2.2T - Get ready with MARS Cosmetics Here’s your trivia for today: How much did the first Lok Sabha elections cost? --------------------------------------------------------------- Edtech BYJU’S adopts new strategies edtech firm BYJU’S seeks to distance itself from its earlier aggressive sales tactics to a strategy where salespeople are tasked with counselling rather than selling, as the company aims for revival amid increasing challenges. As part of the new strategy, BYJU'S sales executives will have increased flexibility and greater earning opportunities, sources aware of the development said. The company has also reduced its product prices around the start of the academic year. Revisiting plans: - BYJU'S has introduced a system where sales associates can receive 100% of directly closed sales into their accounts the following working day, with managers receiving 20% of the same from the company—at a time when the edtech company struggles to meet payroll. - Following the clearance of arrears, associates are slated to receive 50% of closed sales, while managers will obtain 10%. - It has also slashed the annual subscription fee for its BYJU’S Learning App to Rs 12,000. As per sources, BYJU’S Classes and BYJU’S Tuition Centres (BTC) are now priced at Rs 24,000 and Rs 36,000, respectively, for a full year. The drop in the prices is around 30%. [Read More]( --------------------------------------------------------------- D2C Indian retail market to reach $2.2T The Indian retail market is expected to reach $2.2 trillion by 2030, with 90% of offline purchases being influenced and dictated by what consumers see online, according to the report Decoding Omnichannel: Strategies for D2C Brands by Accel, Fireside Ventures, and Redseer Strategy Consultants. Key takeaways: - The online retail market is expected to reach $200 billion by 2030, compelling both upcoming and established brands to venture beyond their pre-existing distribution channels and towards an omnichannel approach. - Consumers are increasingly searching across categories before making a purchase online and, therefore, it is crucial for brands to be where their customers are, the report said. - D2C brands have already nailed online retail and can now use product innovation, data-driven marketing insights, and technological prowess to further scale offline channels. [Read More]( --------------------------------------------------------------- MSME Get ready with MARS Cosmetics cosmetic sector is experiencing remarkable expansion, fuelled by rising purchasing power and a vast array of options that leave consumers spoiled for choice. According to Custom Market Insights, the sector is expected to reach $18.4 billion by 2032, growing at a CAGR of 3.2%. Despite a topsy-turvy journey, homegrown company MARS Cosmetics is determined to be the go-to cosmetics brand for the Indian middle class. Make-up game: - When many D2C brands focused on a price range between Rs 600 and Rs 800, MARS Cosmetics strategically priced its products, like lipsticks, between Rs 250 and Rs 400. - Besides targeting price-constrained customers, the brand also ensured good quality products by outsourcing its products to third-party manufacturers across India and importing from China, Taiwan, and Germany. - With a presence in over 8,000 general trade stores via a network of more than 400 distributors, director Rishabh Sethia says an increase in both online and offline presence is on the cards for MARS Cosmetics. [Read More]( --------------------------------------------------------------- News & updates - [Homecoming:]( Stock broking app Groww has shifted its domicile back to India from the US, signalling a broader trend among the local startup community. The Bengaluru-headquartered startup made the transition in March, Co-founder and CEO Lalit Keshre said. - [Crushing:]( Apple faced an online backlash over an advert for its new iPad that features an industrial-sized hydraulic press crushing a collection of objects and gadgets, including musical instruments and books. The ad shows the machine squashing an array of items before a single iPad Pro then appears in its place. - [Merge:]( Seeking further scale in the streaming business, Disney and Warner Bros Discovery announced plans for a cross-studio bundle that would combine Disney+ and Disney’s Hulu with Warner Bros’ Max, which includes an array of programming from that studio and its premium service, HBO. Here's what else we have for you Taming the concurrency beast: Experts break down challenges of high-performance Apps In association with Volt Active Data The digital world thrives on concurrency, but managing high volumes of concurrent requests with low latency, efficient scaling, and cost-effectiveness can be a challenge. To address this, Volt Active Data and YourStory hosted a roundtable discussion featuring industry veterans from FSS, Myntra, PhonePe, HDFC Bank, and more! [Know More]( --------------------------------------------------------------- PhonePe showcases its services at Nepal event In association with PhonePe PhonePe showcases it's cutting-edge services in Nepal! PhonePe joined hands with Fonepay Payment Service Limited to introduce UPI-powered transactions at a special event in Kathmandu. Key stakeholders from Nepal's financial landscape gathered to explore the potential of UPI for Nepal's digital economy. Together, the industry leaders discussed the impact of cross-border payments on tourism, revenue streams, and more. [Know More]( --------------------------------------------------------------- Inviting applications for Google for Startups Accelerator: AI First in India In association with Google Google [opened]( the application for the [Google for Startups Accelerator: AI First in India]( and inviting Seed to Series A startups from India using AI in their core solution or product to apply. Interested startups can apply [here]( before 19th May 2024. This is a 3-month equity-free Accelerator program for AI-First startups between Seed to Series A based in India and brings the best of Google and helps founders build scalable solutions responsibly with AI and ML. The selected startups will receive guidance on building human-centered and responsible AI solutions, access to the Google mentor network, training across design, marketing, and leadership, and access to tech stack credits and the state of the art AI tools. [Know More]( Did you know? How much did the first Lok Sabha elections cost? Answer: Rs 10.5 crore, or Rs 1,034 crore in today's value. We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail nslfeedback@yourstory.com. If you don’t already get this newsletter in your inbox, [sign up here](. For past editions of the YourStory Buzz, you can check our [Daily Capsule page here](. [Feedback]( [Unsubscribe]( [Newsletters](