The economic disruption caused by COVID-19 is the worst recession the world has seen in nearly a century. At the OurCrowd Pandemic Innovation Conference, Alec Ellison, Chairman of OurCrowd US, sat down with three world-class investors to discuss their perspective on the coronavirus recession, caused by the fallout of the COVID-19 pandemic. The three investors included founder and Chief Investment Officer of Key Square Group Scott Bessent; managing director at Insight Partners, Deven Parekh; and partner at Bessemer Venture Partners, Jeremy Levine.
Throughout the discussion, Bessent emphasized the importance of putting the present day into context and thinking about what the world and the economy may look like at intervals throughout the future. Bessent drew attention to the Japanese economy surrounding the Fukushima attack in 2011. “For several years,” said Bessent, “the Japanese stock market was the best performing market. Japan as a travel and investment, private equity venue came back on everyone’s radar screen. But it’s hard to believe when you were watching Fukushima burn that this could happen 18 months later.” While Bessent noted that the uniqueness of the situation makes creating a road-map difficult, he seemed confident that in the not so distant future, the economy would bounce back.
Levine noted that the current “disconnection between the financial markets and the economy may be unprecedented.” In a few years, with the luxury of hindsight, Levine expects more clarity on what’s happening with the market during this economic crisis, but at the moment, “it’s very hard to have high confidence that you know what’s going on today, today.” This lack of clarity leads Levine to ask, “what strategy do you pursue as an investor when you are investing in this enormous amount of uncertainty?”
According to Parekh, however, many companies “have continued to grow at a pretty strong rate” throughout the economic lockdown and market instability. Insight Partners has closed with nine new investments since the pandemic erupted in mid-March. Parekh highlighted the role of technology in keeping companies strong amidst the chaos. He suggested that the relative safety and long-term benefit of investing in the tech is “going to be a driving force” in reshaping stores and reengineering supply chains.
Watch the full 20-minute session, Investing in a Time of Crisis, for what these successful venture, private equity, and macro investors have to say about investing in such uncertain times.
Replay all the sessions from the OurCrowd Pandemic Innovation Conference here.
The post Investing in a Time of Crisis: 3 World-Class Investors Discuss the Coronavirus Recession appeared first on OurCrowd.
The way people communicate is constantly changing and has taken a digital nature in recent times. This is because, with the advancements and innovations in technologies, communication can no longer be an exception. And, the industry is growing more digital like never before in this modern era.
Mainly, messaging apps and social media networks serve as the big platforms in digital communication
Initially, the messaging app like Whatsapp was just used as a backup for phone calls and text messaging. And, considered as a communication tool for personal use. But, soon these apps evolved with convenient functions that are not available in either phone calls or traditional text messaging. So, a large consumer group and mainly the millennials choose messaging apps as their prime communication channel
Nowadays, the messaging app has also been used as an efficient business tool. Many business owners embrace the idea of using messaging apps for their business needs. Without any second thought, the instant messaging app is surely a boon to the business community. But,
Do you still really wonder why these messaging apps have gained immense popularity around the globe?
Do you want to know why messaging apps have a significant impact on the growth of many businesses worldwide?
Then, continue to read the blog
In the below sections, we are going to see the benefits of using a messaging app in the business communication; what are all the challenges in building a custom messaging app; how to get an all-in-one messaging app for your business
How does instant messaging help businesses?
For diverse business needs
Instant messaging apps help businesses in different ways. Such as it can be used for intensifying the bond with customers through effective customer service. It can also be utilized for internal communication purposes within an organization like connecting employees for the smooth functioning of the work process, building brand, and so on.
The best part about the instant messaging app is that it serves as the simplest and cost-effective way to communicate with the customers. This is because business owners can send all necessary audio/video files to their clients at no cost.
Also, with the increased use of instant messaging apps among people, targeting potential customers will cost you very less when compared to the other modes of communication
Unified mode of communication
Before the invention of messaging apps, various platforms were used for sending different types of data. So, businesses pay more for additional services such as for making a video call, conference calls, and so on. But, with instant messaging apps, one can do all business activities without the need to go for other platforms
Messaging is less disruptive and also makes communication hassle-free. So, it will be really a smart move to make use of messaging apps in the business. You can handle a group of clients and can share the required data effectively at the same time.
Serves as a convenient and secure platform
Instant messaging apps promote smooth communication even when accessed from various platforms and devices such as smartphones, desktop, etc. Also, these messaging apps are less prone to cyberattacks and hence the data shared on these apps will be secure. So, significant company details can be shared securely through instant messaging apps.
I believe you can now understand why messaging apps are so popular worldwide. So, it is a must for businesses to make use of a best-in-class instant messaging app to streamline business operations.
I hope you will also have an idea of building the best instant messaging app to boost your business growth. But, you may face some difficulties while building an instant messaging app for your business
Challenges in building a custom instant messaging app
Let us now delve deep into the key challenges in building a perfect instant messaging app for a business
Picking core features
These days, people expect a lot from messaging apps. So, they will get attracted to an instant messaging platform only if it includes top core functions and unique features. So, it becomes essential to add all main functions to the messaging app in order to impress users
Choosing the perfect tool stack
Selecting the right technical tools for the messaging app is quite a tough task. This is because it will make a great difference in the functions and the security features for arriving at a successful instant messaging app
Making the messaging app unique
Building a normal instant messaging app will no longer amaze users to a greater extent. Users will surely look for some new features in your messaging app.
Only then they will prefer your messaging app instead of using other conventional messaging solutions. So, you can astonish users only by giving them something exciting in your app
Providing high security
Messaging apps may need to handle confidential data at times. Users will lose confidence in using the messaging app unless it ensures the complete protection of information. So, including top-level security in the messaging app is a necessity in today’s competitive environment
As we have seen before, it is important for a messaging app to include the key features and impressive functions, and to secure the data transferred. But, if your messaging app fails to engage users on the platform, then it cannot be successful.
Now, we have seen some prime challenges in building a phenomenal instant messaging app. So, to say in a nutshell, the instant messaging app that you develop must
- Allow the users to send group messages, one to one messages and broadcast messages to contacts quickly
- Allow the inclusion of features right from voice/video call to live streaming, digital chat elements such as emojis, stickers, etc
- Support the file transfers in various formats such as images, videos, documents, and voice notes
- Include the push notification feature to inform the users quickly when there are any new messages
- Include end-to-end encryption feature to ensure that any data sent between the users will be completely protected
- Enrich the experience of users on the platform with an attractive user interface
But, a question will spark in your mind.
How to overcome these real-time challenges and build an attention-grabbing instant messaging app?
Clone solutions for building top-grade instant messaging applications
From the above sections I hope you understand that the instant messaging app is the future of communication. But, to overcome the above-mentioned challenges, it is wise to choose a ready to use clone solution instead of developing the messaging app from scratch.
Let us now see some of those clone solutions that can be optimized and customized easily for your business needs
An impeccable Whatsapp clone can be a game-changer for your business. Because it will help you to create an instant messaging app encompassing multitudes of advanced features.
Just a normal Whastapp clone will not be enough to get an exemplary messaging app. So, a Whatsapp clone with peerless performance and scalability must be used to get an exceptional instant messaging app. And so, you can establish a promising business venture.
The most difficult part of creating a messaging app is laying the foundation for including additional functions in the platform. An adaptable Whatsapp clone can help to accommodate the innovations without complications in the future.
WeChat clone will be the best choice to build an instant messaging app for various communication business models. Your business needs may vary like building a team app, an app for promoting products, providing customer support, etc.
In such a case, you can make use of an adaptable WeChat clone with modern functions. Thereby, you can easily build a feature-rich messaging app.
Viber clone script enables the business owners to get the maximum benefit from the messaging app by providing complete support for the inclusion of the trendiest technologies. So, a customizable Viber clone will be the apt solution for building a robust instant messaging app with seamless performance
With Telegram clone, you can create a powerful instant messaging app for connecting users globally. Also, you can get the best results in business communication by using the finest Telegram clone with multi-platform support. So, look for a fully-integrated Telegram clone solution to attract your niche audience with an ideal instant messaging app
There is no doubt that the messaging app serves as the preferred mode of communication among consumers and business owners. Understanding its benefits, many proprietors started using messaging apps to run a profitable business. So, if you are one of those aspiring entrepreneurs, it is essential for you to leverage instant messaging apps. Thereby, grasp the chance to reinforce the bond with the users and reach your business goals.
As said before, these days a lot of online solutions are available in the market to build an instant messaging app. But, not all those solutions can help you in developing a unique messaging app. So, my suggestion would be to approach a well-known online solution provider to get a perfect clone solution for building a best-in-class messaging app
You can find such high-quality, readymade clone solutions at Appkodes. Our ideal Whatsapp clone, Appkodes Hiddy is pre-built with all key functions and state-of-the-art technologies. And so, you can get a visually stunning instant messaging app.
The solution can also be customized for your diverse business needs. So, make use of a reliable Whatsapp clone solution like Appkodes Hiddy to build an amazing instant chatapp script. And thereby, attain success in your business venture
The post Provide stellar user experience with a world-class instant messaging app appeared first on Appkodes.
Can you ever imagine a situation when you have to put a lot of effort and time to fulfill your everyday needs ranging from transportation, food, shelter, etc? It would surely be a tedious process. Right?
But, this is the exact state of the people before the commencement of the Internet era. Even when they wish to travel from one place to another, they had to spend a long time searching for the nearest taxi service provider from the business directory. At times, they may also have to run into hiring an unqualified taxi service provider in a last-minute rush.
Amazingly, the technological revolution has simplified the day-to-day tasks and activities of people. The inception of smart apps led to a drastic change in almost every business area. This includes the taxi booking industry as well. In recent years, it has gained immense traction all over the world.
Some of the commercially successful online taxi service providers are Ola, Uber, Hailo, and Lyft. By seeing this tremendous growth, many business owners now plunge into the on-demand taxi service.
In the current market trend, business owners have abundant opportunities to get fame in the online taxi booking business. Because, people are ready to pay for a convenient and perfect online ride-hailing service. But along with the ample chances, each and every entrepreneur has to face some challenges. They must overcome certain obstacles to get success in their online taxi business endeavor.
Are you one among those proprietors striving to be victorious in your online ride-hailing business venture? Then, this blog is completely for you.
In this blog, we are going to see about the competitive environment in the online taxi business. I am also going to share some innovative features that can be included in the Uber clone apps. We will also see the taxi booking business model of the future and the next innovation in Uber app.
Cut-throat competition in the online taxi booking service
More than ever before, the online taxi business is facing tough competition. Anyone can offer a basic taxi service, i.e. picking up and dropping off customers. This traditional model of online taxi business will not delight customers anymore in today’s scenario.
Nowadays, the enormous growth of customized taxi booking apps is hitting the global taxi business with a massive force. So, the development of taxi apps just for the sake of existence in this competitive environment will be not at all an everlasting solution to endure in the long haul.
In addition to providing conventional online taxi services, many business owners now began to show a keen interest in delivering the most demanded customer services in their taxi booking apps. This will also gratify users greatly.
So, it is the sole responsibility of the taxi business owners to add futuristic functions and to identify the most appropriate business model that is going to add value to their online taxi business. They must think innovatively to stand unique from others. They should be able to introduce versatility and next-gen features in the development of the taxi booking app like Uber.
With such a stunning Uber clone app, they can be able to withstand this fierce competition. And also, they can build a profitable online taxi business.
Must have inclusions in Uber clone apps
Let us now see some of the most impressive inclusions in the Uber clone apps that are capable of attracting more users easily than your competitors.
Effective matching algorithm
With an advanced matching algorithm in your Uber clone app, riders need not wait a long time after they made a ride request.
This is because, instead of just allocating the nearest driver to the rider, this state-of-the-art matching algorithm will consider one-way streets, traffic, bridges, rivers, and several other factors for assigning drivers
So, an efficient driver allocation can be obtained in your app. This, in turn, will automatically enhance the user rate and profit.
In the Dynamic pricing concept, the fare prices of the ride will automatically go high when the demand for taxi service increases. So, it greatly helps taxi service providers to gain more when there is a high demand for the taxi service.
This dynamic pricing applies too for the taxi drivers. They get more money per KM than the usual fare when the demand is high. So, it attracts drivers and makes them get live on the roads when there is a great demand for the taxi.
Dispute management module
The admin panel of the Uber clone apps must include a dispute management module. It will serve as a repository of all user queries and feedback. The Admin can then take further steps to track and solve those queries in a most effective manner.
You can also add an AI-enabled chatbot feature to the app. This will give quick responses to the most common customer queries. There is no doubt that these inclusions will enrich the customer experience on the platform.
Robust automated system
As already known, a robust automated system can minimize the need for manpower and can enhance the business output to a notable level. So, such a powerful automated system is the key to attain success in your online ride-hailing business.
You can also carry out some significant business processes like driver verification, business decisions, etc. constructively with the help of this automated system in your taxi app.
Ensuring the safety of passengers
Making sure that people are safe during their rides is of utmost importance for gaining user’s trust and confidence in your online taxi booking platform. So, a fully dedicated AI-based feature in the admin panel can determine the credibility of drivers. Because, it makes use of certain factors such as user reviews, driving patterns, etc.
You can also include some safety features in their taxi apps. For example, an option for sharing the current ride status with anybody, SOS alert button, etc.
You can also add the below-mentioned features to your Uber clone app to make it an impressive one
- Interactive map and taxi tracking
- Voice recognition
- Referring program
- Inbuilt messenger
- Vehicle selection
I hope now you will have an idea about the key features of a taxi app; the importance of having those beneficial additions in your Uber clone app.
Brand-new taxi booking business model of future
The first and foremost requirement to start an online taxi business is to decide upon the business model. It must serve as a suitable and profitable revenue model for the owners. The traditional business model of Uber is still successful. But, the market has been intensified with the emergence of many taxi booking apps with similar functions.
So, to grab user’s attention, entrepreneurs must change the way they deliver on-demand service to their target audience. For instance, many taxi service providers now started to introduce vans, motorcycles, etc into their fleet. So that, they are able to provide top-notch customer service along with high-security standards.
As you already know, the on-demand taxi service is a subsection of the transport business. Some of the other sub-businesses of transportation businesses include grocery delivery, courier delivery, food delivery, etc. So, you can include all these possible services into your Uber clone app to obtain a large customer base. Here, the number of customers you get and the profit you gain will be very high.
You can smoothly get through the tough competition in the online taxi business with these innovative business models.
Next innovation in the Uber app
Taxi app users are always in search of something new in the applications to keep them engaged. So, offer them new and highly advanced features in taxi apps. This can surely kindle interest in their minds to make use of your app again and again.
Following this, Uber has now introduced a monthly subscription pass that connects Eats, rides, and bikes. The Ride pass was launched by Uber in the month of October last year. Since then, many users benefit from it by paying lower prices for rides based on the monthly fee. It is one of the most intelligent moves of Uber. Because, it can entice users and can get their full involvement in this multimodal platform.
The main concept here is the users who have bought Uber’s monthly combo pass already, will look for and utilize more Uber services than any other services. So, it is also a lucrative innovation by Uber.
From this, you will understand how Uber has tried a smart way to capture the attention of the audience. It continues to look for possible ways to make Uber the best option for the everyday needs of users.
Do you want to shine in your on-demand taxi business? Then, learn these useful things from the successful taxi business like Uber. You can also implement these new concepts in your Uber clone apps to gain popularity.
From the above sections, you will have a clear picture of the latest innovations and significant additions in taxi apps.
As already said, online taxi businesses are facing tight competition. So, as a business owner, you must deliver only the best-in-class online taxi services. This will greatly help you to face the current market trend.
Are you really looking to develop an ideal Uber clone app to begin/intensify your online ride-hailing business? You can approach a leading web and mobile apps development company for a ready-to-use solution. Because, developing the app from scratch will take more time and will not be a cost-effective one.
A screen preview of taxi app built with Appkodes Cabso
In such cases, Appkodes Cabso, our readymade Uber clone solution will help you in reaching your online business goals. It can be customized effectively to include all the above-mentioned features and functions. Because of its versatility, it is also readily adaptable to any business model of your choice.
Not everyone can provide a professional online taxi service to the passengers. Plan your online taxi business by utilizing the useful points mentioned above. And thereby, set an everlasting impression in your online taxi business venture.
The post Set a global footprint in the online taxi business with a world-class Uber clone solution appeared first on Appkodes.