Hello,
Big tech earnings started on a good note as both Microsoft and Alphabet reported strong performance in the past quarter, surpassing analyst expectations.
Microsoft’s net profit for the quarter stood at $18.3 billion, boosted by growth in its cloud and office productivity businesses. On the other hand, Google parent Alphabet reported a net profit of $15 billion, on the back of advertising revenue and demand for cloud services.
Elsewhere, Netflix is doubling down on South Korean content, with plans to invest $2.5 billion over the next four years into making K-dramas, reality shows, and movies. This is twice the amount the streaming giant has invested in the Korean market—since launching its services in the country in 2016—buoyed by the popularity of shows such as Squid Game, The Glory, and others.
Meanwhile, the Union government approved the National Medical Devices Policy, 2023, on Wednesday to promote domestic research and development, as well as help the sector grow from its present $11 billion to $50 billion in the next five years and reduce import dependence.
Oh, and here’s what life at sea could potentially look like. In 2002, residential cruise ship The World first launched its 644-foot-long floating community, which houses 165 condos, a video game room, a card room, a library, and a 7,000-square-foot spa.
Leisure and luxury, wrapped into one.
In today’s newsletter, we will talk about
- How Flash empowers power shoppers
- Addressing gender gap in the workforce
- Life in a metro: Single women edition
Here’s your trivia for today: Who’s the only IPL player to have played all 16 tournaments for one franchise?
Ecommerce
How Flash empowers power shoppers
Flash—founded by former Flipkart executive Ranjith Boyanapalli—aims to simplify shoppers’ buying experience by aggregating their orders on a single platform and rewarding them for their online purchases. They can also obtain cashback, which can be transferred to their bank account. One could say Boyanapalli is trying to create the CRED of ecommerce with the Flash app, which went live last month.
The workings:
- The Bengaluru-based startup raised $5.8 million in seed funding from Global Founders Capital, White Venture Capital, Soma Capital, and Emphasis Ventures. Also, CRED’s Kunal Shah is an investor.
- All order-related information, including confirmations, payment receipts, shipping updates, and product returns will be available in one inbox, linked to a Flash email ID.
- Shopping with partner brands will fetch users a fixed percentage of cashback, apart from coupon codes and card-affiliated discounts.
Interview
Addressing gender gap in the workforce
HerKey, formerly JobsForHer, has transformed into a full-spectrum career engagement platform that unlocks job opportunities, learning, and access to workforce communities for women in India. In an interview with YourStory Founder and CEO Shradha Sharma, Neha Bagaria, Founder and CEO of HerKey, explains how HerKey aims to bring more women into the workforce.
Back to work:
- It seeks to address the gender gap in the Indian workforce, where only 29.4% of women participate in the labour force compared to 60% in China and 55% in the US, as per the Periodic Labour Force Survey, 2022.
- HerKey today has three and a half million women on its platform, over 10,000 companies, and over 800 re-skilling partners.
- It raised a $4 million funding round from Kalaari Capital, 360 ONE Asset, and angel investors, including Zia Mody, Puneet Dalmia, Pramit Jhaveri, Aditi and Shuchi Kothari, KP Balaraj, Ranjan Pai, Neeraj Bajaj, Akash Bhansali, and others.
In-depth
Life in a metro: Single women edition
Around 72 million single women live in India, according to the Census. This may point to the growing independence and confidence of women in the country, but, unfortunately, many house owners do not view it from this perspective. Experiences shared by single women with HerStory show that—even after they manage to find accommodation—they are often subject to discrimination and judgement based on their gender.
Judgement ridden:
- The experiences of single women highlight how the modernisation of cities and women’s growing independence has done precious little to remove gender bias and traditional mindsets.
- The general stipulations imposed by landlords range from restrictions on house parties, drinking and smoking to curfew timings and entry of visitors.
- While restrictions may apply to both men and women, anecdotal evidence indicates that they seem to be enforced more strictly in the case of women.
News & updates
- No easy play: Britain will block Microsoft’s $69 billion acquisition of Activision Blizzard over its concerns it would hinder competition in cloud gaming. Europe will decide on the deal by May 22. The US Federal Trade Commission is also seeking to block it.
- Battery power: Almost one in five cars sold worldwide this year will be an electric vehicle, predicts the International Energy Agency, after global sales already passed the 10 million mark for the first time. The surge in demand means EVs will account for 18% of global car sales compared with just 4% in 2020.
- Representation: Mattel introduced its first-ever version of the Barbie doll representing a person with Down syndrome as part of the Mattel Barbie Fashionistas line that aims to offer kids more diverse representations of beauty and fight the stigma around physical disabilities.
Who’s the only IPL player to have played all 16 tournaments for one franchise?
Answer: Virat Kohli for Royal Challengers Bangalore (RCB) since 2008.
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