SOCIAL
prime venture partners: Collaborative commerce platform Oyela raises Rs 14.4 crore led by Prime Venture Partners
The company said it will use the funds to develop ecommerce technology, build chatbots for selling on various platforms with public profiles like Pinterest, YouTube, Threads as well as streamline the supply chain to help people set up and expand their own Instagram stores.
Elevate Your Tech Prowess with High-Value Skill Courses
| Offering College | Course | Website |
|---|---|---|
| Indian School of Business | ISB Digital Transformation | Visit |
| Indian School of Business | ISB Professional Certificate in Product Management | Visit |
| Northwestern University | Kellogg Post Graduate Certificate in Product Management | Visit |
| Indian School of Business | ISB Product Management | Visit |
Founded in 2021 by Rahul Gope and Anjan Kumar Patel, Oyela helps sellers to grow their business by offering tools to collaborate with each other for better traction on social media, streamline operations, and use Instagram automation to boost sales.
“We are thrilled to welcome Prime Venture Partners as our newest partner in this exciting journey. The new funds will allow us to further enhance our platform and help us achieve our dream of empowering 2 million social stores in the next five years,” said Rahul Gope, cofounder and CEO, Oyela.
“First value proposition that we offer to the sellers is getting more orders and utilising their own social media reach. Second is making them collaborate with relevant sellers to utilise their social media reach as well,” Gope told ET in an interaction.
Almost 60-70% of the sellers that use Oyela are women entrepreneurs, he added.
Discover the stories of your interest
Gope said the ecommerce technology will include order management, automated order collection which involves the use of artificial intelligence (AI) and native payment gateway integration.Last year, the company raised Rs 4.1 crore in funding from several investors including Good Capital, Upsparks Capital and Eximius Ventures.
Commenting on the investment, Amit Somani, managing partner, Prime Venture Partners said “The GenZ population are ecommerce natives and are also open to experimenting with fashion. Currently, there are more than 200 million businesses/sellers on Instagram globally. The next 10 years of ecommerce growth will have a meaningful contribution from these Gen Z sellers.”
Oyela not only offers solutions to solve problems of Instagram sellers but also opens new avenues for them to explore, he added.
Prime Venture partners has invested in companies such as Quizizz, MyGate, PlanetSpark, Dozee, NiYO, Sunstone Eduversity among others. It last invested in a Bangalore-based GenAI startup Zuapp in July this year.
SOCIAL
Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?
In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.
The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.
According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.
Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.
Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.
The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.
This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.
Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.
As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?
Only time will tell.
SOCIAL
Catering to specific audience boosts your business, says accountant turned coach
While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.
When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.
“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.
Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.
“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.”Â
“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.
“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.
Watch the video for more of Sandra Parker’s biggest lessons.
SOCIAL
Instagram Tests Live-Stream Games to Enhance Engagement
Instagram’s testing out some new options to help spice up your live-streams in the app, with some live broadcasters now able to select a game that they can play with viewers in-stream.
As you can see in these example screens, posted by Ahmed Ghanem, some creators now have the option to play either “This or That”, a question and answer prompt that you can share with your viewers, or “Trivia”, to generate more engagement within your IG live-streams.
That could be a simple way to spark more conversation and interaction, which could then lead into further engagement opportunities from your live audience.
Meta’s been exploring more ways to make live-streaming a bigger consideration for IG creators, with a view to live-streams potentially catching on with more users.
That includes the gradual expansion of its “Stars” live-stream donation program, giving more creators in more regions a means to accept donations from live-stream viewers, while back in December, Instagram also added some new options to make it easier to go live using third-party tools via desktop PCs.
Live streaming has been a major shift in China, where shopping live-streams, in particular, have led to massive opportunities for streaming platforms. They haven’t caught on in the same way in Western regions, but as TikTok and YouTube look to push live-stream adoption, there is still a chance that they will become a much bigger element in future.
Which is why IG is also trying to stay in touch, and add more ways for its creators to engage via streams. Live-stream games is another element within this, which could make this a better community-building, and potentially sales-driving option.
We’ve asked Instagram for more information on this test, and we’ll update this post if/when we hear back.
13 Best HubSpot Alternatives for 2024 (Free + Paid)
Advertising in local markets: A playbook for success
Google Core Update Flux, AdSense Ad Intent, California Link Tax & More
How to Become an SEO Lead (10 Tips That Advanced My Career)
Google Needs Very Few Links To Rank Pages; Links Are Less Important
How to Use AI For a More Effective Social Media Strategy, According to Ross Simmonds
10 Most Effective Franchise Marketing Strategies
Biggest Trends, Challenges, & Strategies for Success
Google Won’t Change The 301 Signals For Ranking & SEO
Set Your Team up for Success and Let Them Browse the Internet Faster
-
WORDPRESS7 days ago13 Best HubSpot Alternatives for 2024 (Free + Paid)
-
MARKETING7 days agoAdvertising in local markets: A playbook for success
-
SEARCHENGINES7 days agoGoogle Core Update Flux, AdSense Ad Intent, California Link Tax & More
-
SEO5 days agoHow to Become an SEO Lead (10 Tips That Advanced My Career)
-
SEARCHENGINES5 days agoGoogle Needs Very Few Links To Rank Pages; Links Are Less Important
-
MARKETING6 days agoHow to Use AI For a More Effective Social Media Strategy, According to Ross Simmonds
-
PPC4 days ago10 Most Effective Franchise Marketing Strategies
-
PPC5 days agoBiggest Trends, Challenges, & Strategies for Success
