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He Overcame Dyslexia and Built a $1 Million Language Learning App
Entrepreneur Ventures is an early-stage venture capital firm partnered with Entrepreneur Media that is dedicated to backing passionate and innovative founders as early as day one. In this series, we are profiling the amazing entrepreneurs that Entrepreneur Ventures is working with to share their insights on building and growing a thriving business.
Michael Peled is the co-founder and CEO of Singit, an immersive English education platform that teaches the language through music. “People pick songs that they like, then select words in the lyrics for instant translation, and expand their vocabulary faster and easier,” Peled explained on a call with Entrepreneur.
SingIt is currently being used by 500,000 students across 12 countries and has recently surpassed $1 million in annual recurring revenue. “With our new consumer channels, especially focusing on the Latino population in the U.S., and over 5,000 paying customers, we’re poised to disrupt the market,” Peled says. Read on to learn more about the innovative teaching tool, and the driving force behind the 23-year-old tech founder’s passion for learning.
Please give us the company elevator pitch.
SingIt is transforming English language education by integrating AI-driven technology with a library of over 5 million songs. We deliver personalized learning experiences, tailored to each learner’s needs, turning the most addictive apps into powerful tools for mastering language.
What gave you the idea?
My father learned English in the ’70s from John Lennon and Bob Dylan songs. This sparked my realization that music could be an incredible tool for language learning, particularly for people like myself with dyslexia. I had to work eight times harder in school to achieve the same results as my peers. This determination, combined with having entrepreneurial parents who always believed in me, propelled me forward. I firmly believe that having just one person who pushes and supports you can make all the difference.
Related: Teacher’s Successful Side Hustle Made Over $22K in One Month
How did you get started?
I developed SingIt as my final project in a gifted kids program at the Weizmann Institute. It grew into an app now used by 500,000 students globally, and it’s been approved by Ministries of Education worldwide.
What kind of training did you have before developing Singit?
By the age of 17, I was mining Ethereum on my school’s lab computers, but that’s not where my business success stems from. My passion for technology and curiosity about how money is made started when I was 9. Though I’m not materialistic and consider myself quite frugal, I was always drawn to entrepreneurship. By 16, I was earning over $100K a year photographing events while others partied. Growing up in a family of investment bankers also opened doors to key relationships, including a mentor who introduced me to underwriting.
Related: How This Entrepreneurial Couple Is Revolutionizing Brand Loyalty
Ultimately, my success came from being relentlessly curious, always seizing opportunities, and having a strong desire to learn from others. Since then, my focus has been on creating lasting impact, not just financial gains. SingIt’s mission is to democratize education and make learning accessible for everyone.
What do you hope to accomplish with SingIt?
I want SingIt to become a cornerstone of education, enabling millions of children to learn English in a fun, engaging, and accessible way. My goal is for English to become a second language globally. In many countries, fluency in English can increase one’s salary by up to four times and open new opportunities, especially in poorer regions, connecting them to the global economy.
What is your best advice for entrepreneurs who are pitching investors?
Persistence is key. Be relentless in pursuing your vision and ensure that your product solves a real problem. For instance, when securing music licenses for SingIt, I didn’t stop until I won over the biggest players in the industry.
Do you have a personal mantra that helps keep you motivated?
Be prepared to outwork everyone in the room, including your toughest competitors. True success demands relentless effort, grit, and unwavering perseverance. Every obstacle is an opportunity to rise above. Remember: “If you will it, it’s not a dream.” Lead with passion, push your limits, and show the world what’s possible when you refuse to give up.
Related: All True Entrepreneurs Share This One Personality Trait, Says the Founder of Spicewell
AFFILIATE MARKETING
CVS Is Laying Off Thousands in Cost Cutting Initiative
CVS Health is laying off around 2,900 people to cut costs, the company announced on Tuesday.
“We’ve embarked on a multi-year initiative to deliver $2 billion in cost savings by reducing expenses and investing in technologies to enhance how we work,” a spokesperson said in a statement, per CNN.
Related: ‘Tough Day For All of Us:’ Intel CEO Announces Layoffs Affecting 15,000 People
Experts say several factors are causing the industry to struggle as a whole, including online shopping. Consumers are buying toiletries and personal items from Amazon, Walmart, and other large online retailers. Meanwhile, big box stores like Costco are cutting into what was once considered staple buys at drugstores, like toilet paper and snacks.
CNN also reports that Dollar General’s growing market is causing slower sales at drug stores in rural areas. Falling reimbursement rates for prescription drugs are also a big factor.
Related: Apple Just Conducted a Rare Round of Layoffs. Here Are the Teams and Roles Affected.
“Our industry faces continued disruption, regulatory pressures, and evolving consumer needs and expectations,” the spokesperson said. “The reductions will not impact front-line jobs in our stores, pharmacies and distribution centers.”
“The vast majority of impacted colleagues will be notified this week,” the CVS spokesperson added.
The cuts will affect around 1% of CVS’s total workforce.
On Monday, the Wall Street Journal reported that CVS has been exploring the possibility of breaking up the company.
Reuters reported that the move would potentially separate its retail and insurance units.
AFFILIATE MARKETING
Nvidia CEO Jensen Huang Praises Nuclear Energy to Power AI
By 2027, it could require as much energy to power AI per year as it currently does to keep the lights on in Sweden or the Netherlands.
As big tech companies like Meta and Google build out costly AI infrastructure, the CEO of AI chip maker Nvidia, the third-largest company in the world by market cap, says the answer to the world’s energy needs could be nuclear.
Related: Nvidia CEO Jensen Huang’s Biggest Worry Shows that Success Has a Downside
“Nuclear is a wonderful way forward as one of the sources of energy, one of the sources of sustainable energy,” Nvidia CEO Jensen Huang told Bloomberg on Friday. “It won’t be the only one. We’re going to need energy from all sources and balance the availability and the cost of energy as well as the sustainability over time.”
Nvidia CEO Jensen Huang. Photo Credit: Chip Somodevilla/Getty Images
Huang also told reporters that though AI will use more electricity, it will compensate for it with “incredible productivity.”
Huang’s remarks follow the news that Microsoft is reopening Three Mile Island, a nuclear station that has been closed for five years. Other AI leaders, like OpenAI’s Sam Altman, have said that nuclear power is one solution to AI’s energy demands. Altman has even invested $375 million into Helion Energy, a startup working to build the world’s first nuclear fusion power plant.
Related: Will It Take Nuclear Power to Sustain AI? Microsoft Is Betting on It.
It’s undeniable that AI takes considerable energy to power. Google’s 2024 environmental report, released in July, showed a nearly 50% jump in emissions. Google attributed the bulk of the increase to energy needed for data centers and its supply chain.
“As we further integrate AI into our products, reducing emissions may be challenging due to increasing energy demands from the greater intensity of AI compute,” Google stated in the report.
Nvidia holds between 70% and 95% of the AI chip market. Its four biggest clients, which comprise over 40% of its revenue, are Meta, Amazon, Google, and Microsoft.
Nvidia’s market cap was $2.953 trillion at the time of writing.
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This Minimalist Lamp Lets You Pick From 16 Million+ Lighting Colors for Maximum Productivity
Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.
Did you know that the lighting in your company and home office can affect your productivity as well as your mental health? It’s probably not surprising then that the typically harsh overhead lighting doesn’t do you any favors.
If you want to create a more productive or upbeat work vibe, whether you’re in the office or working from home, this sleek corner floor lamp can help. It arrives with more than 16 million lighting colors, multicolor lighting effects, and a handy remote control for only $59.97 (reg. $149). This offer is only valid until the end of the day.
The easiest upgrade for your office
This floor lamp fits comfortably in the corner of your company office space, living room, and home office, taking up little floor space thanks to its minimalist design. It also arrives in a sleek black metal construction that blends in with the rest of your office or home decor, while its weighted rubber bottom provides a buffer between your floor.
Since it comes with more than 16 million colors to choose from and 300+ multicolor effects, what color will you select for your workday?
It utilizes soft-whtie integrated LEDs for more ambient lighting, but you can choose blue if you’re dealing with numerous administrative tasks and need complete focus. If you’re a solopreneur trying to develop a new business strategy, select yellow to get your creative juices flowing. When you’re ready to change the vibe, the included remote control lets you conveniently shuffle between all options to find the proper lighting for your workday needs.
Improve your daily productivity with a quick change in your lights.
Add this minimalist corner floor lamp with 16+ million light colors to your office for just $59.97. You have until the end of today, September 29 at 11:59 PM Pacific, to scoop up this deal.
StackSocial prices subject to change.
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