AWS CEO Andy Jassy on why cloud is the future (and other top stories of the day)
AWS has a growth rate of 35 percent and an annual revenue run rate of $36 billion. With millions of customers around the world using its advanced infrastructure, storage, and compute services, it counts some of the world’s biggest startups, including Ola, Netflix, and Airbnb as its customers. On the sidelines of AWS re:Invent 2019, the massive annual Amazon Web Services cloud computing conference held in Las Vegas, CEO Andy Jassy spoke about what was on his mind: AWS, its work with Goldman Sachs and Cerner Corporation, Trump’s anti-Amazon stance, and the future of 5G.
Online beauty products platform Nykaa had reported Rs 17.71 crore in losses in FY19. And this year, the company turned its tables around by not just recovering from the losses but also making a profit of Rs 2.31 crore. Nykaa’s valuation has now reportedly touched $724 million, making it a strong contender for the revered unicorn club with its next round of funding.
Bengaluru-based former techie Madhurima Bhattacharjee is a designer whose eponymous label offers sustainable clothing options for millennials. Madhurima was also one of the finalists in the Times SheUnlimited Women Entrepreneur Awards ’19 and was featured on Femina as one of the top sustainable labels to wear in 2019.
Lenskart Solutions posted a revenue of Rs 486.2 crore in FY19, up by 56.3 percent from its reported revenue of Rs 310.9 crore in the previous fiscal. The increase in revenue has been accompanied by a narrowing of losses. The Faridabad-based company reported a loss of Rs 27.89 crore in FY19, compared to Rs 117.9 crore in 2018.
Spacetech startup Skymet has helped more than 20 million farmers across India with its data-based weather predictions, customised for different crops. Besides weather information, real-time weather-based advice is also available. This allows a farmer to make time-sensitive decisions regarding crops, irrigation methods, pesticides, fertilisers, etc.
SoftBank-backed Grofers reported widening of its loss to Rs 448 crore in 2018-19 financial year, while its income rose by over 56 percent from the previous fiscal. The company had posted a net loss of Rs 258.3 crore for the year ended March 2018.
In this episode of 100X Entrepreneur Podcast, co-founder of Citrus Payments and angel investor Amrish Rau shares deep insights on the fintech space in India and how startups can capitalise on the existing gap in the fintech ecosystem.
From Ola’s Khichdi Experiment to Nativ Chef’s traditional offerings – the Indian foodie is spoilt for choice. Here are some of the country’s foodtech startups that can help you revisit your favourite food memories and savour a delicious dish, while you are stuck far from home.