Chennai-based One Hour Bazaar (1hb) Announces Successful Fund Raising for Its Online Grocery Delivery Services Launch

Chennai based One Hour Bazaar (1HB) has announced successful fund raising for its Online Grocery Delivery Services launched last year during the pandemic.  Conceived by Mr V Vijayakumar and alumni of IIT Bombay and his sister Ms Madhu Gayathri Vaithiyanathan, alumni of IIT Madras this pioneered the concept of express delivery by promising the customers delivery with an hour of order. 

With unique and distinctive technological advantages the company is well poised to offer customer delight in the coming days. Already the company has a loyal base of customers over the last one year. The company has a strong professional team drawn from Banking, logistics and retail sector.

Mr. S.V.Raja Vaidyanathan till recently the MD of Asirvad Microfinance Limited has come on Board with a 25% stake for an undisclosed sum in the company.  Mr Vijayakumar, CEO of Voice Gear Networks said that the investment will enable to reach out to another 100,000 customers from present base by offering online grocery with superior service and at affordable price. He said that the 1HB app offers ease of ordering online grocery and backed by quicker service delivery.  He conveyed that 1HB has ambitious plans and this initial funding from him and guidance will steer the company to greater heights in quick time. 

Mr S V Raja Vaidyanathan said that the business model is highly scalable and efficient and the recent investment from him will enable to scale business in multiple locations. He is also from IIT Madras and a MBA for IIM Calcutta besides being a qualified Cost Accountant and a Company Secretary. With 4 decades of experience in Telecom, Retail, Financial Services he brings in tremendous start up experience having worked in about 6 such projects two of which he promoted. The MFI he was heading until recently was built from scratch to a 1400 branch PAN India INR 7,000 crore AUM company. He had an Investment Banking company in the nineties.

About One Hour Bazaar

1Hour Grocery is an online supermarket for daily essentials and groceries. We have a good collection of products from most popular brands and you can choose from them. You can place an order at any time and it would be delivered to your doorstep within 60 minutes. We are operative in Chennai currently and would be expanding to other cities soon. You can pay for your orders through Paytm wallet, debit / credit card, net banking and cash on deliver.

National Seminar-cum-Workshop on Application Of Space Technology & Artificial Intelligence for Climate Resilient Agriculture & Disaster Management

Leads Connect Services In Collaboration With BIT, Mesra Organized 1st National Seminar-cum-Workshop

The event was organized virtually and had presence of eminent names from Department of Geography, School of Human and Environmental Sciences, Birla Institute of Technology, IIT Bombay, NESAC, personalities from scientific community and Industry experts.

Leads Connect Services, Noida based Agri-tech company in collaboration with one of the most reputed institutes of India, Birla Institute of Technology (BIT), Mesra organized National Seminar-cum-Workshop on Application Of Space Technology and Artificial Intelligence for Climate Resilient Agriculture & Disaster Management. The seminar-cum-workshop which was scheduled to be held at BIT Mesra, Ranchi campus, had to be conducted virtually due to pandemic. The event was conducted on October 29 & 30 over Zoom with the objective of exchanging healthy and insightful conversations on environmental issues, management strategies, sustainable practices and technologies for climate resilient agriculture and disaster management, using Artificial Intelligence, Space Technology and GIS among others, for the future.

The virtual event was graced by eminent speakers from academia, research organizations, industries and also saw the presence of 250 students from various colleges and institutes. The national seminar was comprised of activities spanning from expert talks, keynote addresses, and technical sessions. The seminar started with inauguration session by Mr. Navneet Ravikar, Chairman & Managing Director, Leads Connect Services, Mr. Yogesh Singh, Vice-President Agri-Research, Leads Connect Services and Dr. (Prof.) A. P. Krishna, Professor & Head, Department of Remote Sensing, BIT Mesra. In the inaugural session, book flyer of the book titled ‘Space Technology & Artificial Intelligence for Climate Resilient Agriculture and Disaster Management’ was also launched by Mr. Navneet Ravikar, Mr. Yogesh Singh and Dr. (Prof.) A. P. Krishna.

Speaking about the Seminar, Mr. Navneet Ravikar, Chairman & Managing Director, Leads Connect Services highlighted the need of bringing together experts of different fraternities and domains to convey a people centric solution for Climate resilient agriculture and climate change induced disasters. He also discussed on the need of using proven technologies for climate resilient agriculture and disaster management, and timely implementing of apt, feasible and cost-effective solutions for all stake holders in the agri-value chain.

As part of the Seminar-cum-Workshop, Leads Research Lab, the R&D Unit of Leads Connect Services, also conducted a workshop pertaining to Climate Resilient Agriculture & Disaster Management.

While sharing his thoughts on the efforts by Leads Connect Services and Leads Research Lab, Dr. (Prof.) A. P. Krishna, Professor & Head, Department of Remote Sensing, BIT Mesra said “Leads Connect Services and team can play a good role particularly in agricultural productivity and changing crop patterns, for people opting for cash crops and future food security systems. This can work particularly well in North Eastern states, considering the Disaster Management risk is higher there."

The 2-day virtual event had names such as Mr. Rajeev Sharma, CTO Grid Dynamics, Dr. Subimal Ghosh, Institute Chair Prof. & Convener – Interdisciplinary Program in Climate Studies, , Indian Institute of Technology (IIT) Bombay, Dr. Gulab Singh, Associate Professor, Indian Institute of Technology (IIT), Bombay, Dr. K. K Sarma, Scientist/Engineer – SG at North Eastern Space Applications Centre, and Dr. (Prof.) Bijay Singh Mipun, Professor & Head, Department of Geography, School of Human and Environmental Sciences, North-Eastern Hill University, among others attending the event. The event was culminated with a panel discussion by experts on an important note that there is an urgent need of collaborative efforts and discussions for tackling challenges of agriculture and climate change. In addition, the need of technological interventions for addressing such pressing issues. The Panel had Academia, Research & Industry experts along with Young Research Panel sessions which had names like Dr. Fayma Mushtaq, Ms. Bijoylakshmi Gogoi, Dr. Trideba Padhi, and Dr. Madhurananda Pahar.

Padmashree Simon Oraon Minj, popularly known as Waterman of Jharkhand, also gave a special mention as part of the event.

Leads Connect Services has been working in collaboration with Birla Institute of Technology (BIT), Mesra for last two years, for investigating the environmental and livelihood dynamics of Santhal Pargana region of Jharkhand using space technology and machine learning algorithms. They are involved in developing people centric products, research Lab of the organization has been active in different scientific platforms, like chairing sessions on artificial intelligence, agriculture and disaster management in prestigious scientific conferences and organizing scientific seminars at national level.

About Leads Connect Services Private Limited

Leads Connect is an analytics company with core focus on Agri-technology driven Data Analysis and Modelling, Risk Management & Financial Services. It aims to connect farm value chain for enabling sustainable, scalable, and profitable agri-business ecosystem. Besides the core focus areas, the organization has been engaged in research and development-based analytics related to climate and hazard, Landscape, Biodiversity, City, and Geospatial analytics.

Leads Connect has delivered projects related to crop cutting experiments (CCEs), Remote Sensing based Crop Health Monitoring, Crop Acreage, Crop Yield estimates, Risk and Claim Management Services to various central and state organizations, insurers, and reinsurers. In addition, they have delivered projects pertaining to GP level yield estimation using technology. It has used machine learning algorithms and satellite remote sensing analytics to develop framework for yield estimation at GP level. They are currently monitoring CCEs for PMFBY in more than 100 districts across India along with Geotagging of Agriculture Infrastructures in 125 districts for NABCONS, a wholly owned subsidiary of NABARD.

Renu Gupta Awarded the Blackswan Award for Women Empowerment by AsiaOne at Dubai

Business Wire India

Nearing the end of 2021, it is also time to reflect on the works of some of the greatest leaders from across the globe. One such forum that felicitated the works of leaders is The Greatest Brands and Leaders Summit -- an Initiative of URS Media Consulting P.L. & AsiaOne Magazine.
 
Ms. Renu Gupta, Managing Director at Red Velvet Rock Global Commercial Brokers LLC, Dubai was honoured with the Blackswan Award for Women Empowerment, acknowledging her remarkable contribution to making a change in society through her edge of business ideas based on innovation.
 
The summit, now in its 15th Edition, felicitated her unparalleled work across the Asia-Middle East-Africa region. Being a reflection of the influence, impact and spirit that these top-tier leaders have created across the world, it also provided a stage for great visions, discussions and solutions about the business, economy, social issues, and Asia and Africa’s contribution to the world economy’s marvellous growth. The summit proved to be an exclusive platform where important and insightful thoughts were created and exchanged on what’s best for Asia, Africa, and the world’s future.
 
Expressing her feelings over this honour, Ms. Gupta says, “Women empowerment is a subject that is very close to my heart. Luckily, the world is full of self-aware leaders that have good intentions and policies to nurture talent. Despite this, it is saddening to see that progress at grassroots levels is very slow. With my work, I wish to encourage young people to step up and try to make a change. And if I’ve inspired even one person, I think that’s one step closer to our goal."
 
The awards were researched by the United Research Services to make it to the list, chosen by consumers and the industry. Without a doubt, they are only for those brands and leaders who are exclusive, excellent and empowering; people who have not only worked to place their brands globally but have also embossed their region on the world map and have left a remarkable impact on society. The awards were made of those leaders who have made an ingrained mark for other leaders to follow and generations to marvel at.
 
The Summit welcomed businessmen from across the globe, ambassadors, government delegations, social leaders, and entrepreneurs. Noted personalities: Mr. Rizwan Sajan - Founder & Chairman of Danube Group, Mr. Vardaraj Manjappa Shetty - Chairman & Managing Director of Ramee Group Resorts & Apartments, Mr. Adeeb Ahamed - Managing Director, LuLu Financial Holdings, Dr. Ram Buxani - the Chairman of ITL Cosmos, Mr. Abdulla Amiruddin Ajmal - the CEO of Ajmal Perfumes, the philanthropist - Mr. Surender Singh Kandhari, Mr. Neelesh Bhatnagar - the Managing Director of NB Ventures, Mr. Ryan Pinto - the CEO of Ryan International Group of Institutions, Dr. Bu Abdullah – Chairman of Bu Abdullah Group Of Companies and others were felicitated with AsiaOne Super 50 COVID-19 Commitment Award 2020-21. Bollywood actor Mr. Vivek Oberoi, Bollywood actress Ms. Urvashi Rautela were also felicitated at the grand event held at JW Marriott Marquis, Dubai.

SDCL EDGE Acquisition Corporation Announces Pricing of $175 Million Initial Public Offering

Business Wire India

SDCL EDGE Acquisition Corporation (the “Company”) announced today that it priced its initial public offering of 17,500,000 units at $10.00 per unit. The units will be listed on The New York Stock Exchange (“NYSE”) and trade under the ticker symbol “SEDA.U” beginning October 29, 2021. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and redeemable warrants are expected to be listed on the NYSE under the symbols “SEDA” and “SEDA WS”, respectively. The offering is expected to close on November 2, 2021, subject to customary closing conditions.

 

Goldman Sachs & Co. LLC and BofA Securities, Inc. are acting as joint book-running managers for this offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,625,000 units at the initial public offering price to cover over-allotments, if any.

 

The offering is being made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering and the final prospectus, when available, may be obtained from Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282, Attn: Prospectus Department, by telephone at 866-471-2526, facsimile at 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com or BofA Securities, Inc., NC1-004-03-43, Attn: Prospectus Department, at 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001 or by email at dg.prospectus_requests@bofa.com.

 

A registration statement relating to the securities was declared effective by the Securities and Exchange Commission (the “SEC”) on October 28, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

 

About SDCL EDGE Acquisition Corporation

 

SDCL EDGE Acquisition Corporation is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on opportunities created by the rapid shift towards energy efficient and decentralized energy solutions for a lower carbon economy and, in particular, for the built environment and transport sectors.

 

Forward-Looking Statements

 

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering. No assurance can be given that the offering will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s registration statement for the Company’s offering filed with the U.S. SEC and the preliminary prospectus included therein. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

 

 

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Mavenir Announces Its Cloud-native, Modular, and Microservices-based Converged Charging Solution (CCS)

Business Wire India

Mavenir, the Network Software Provider building the future of networks with cloud-native software that runs on any cloud and transforms the way the world connects, announces its cloud-native, modular, and microservices-based Converged Charging Solution (CCS), which enables Communications Service Providers (CSPs) to creatively monetize Network-as-a-Service from 3G, 4G, and 5G networks. As a component of the Mavenir Digital Enablement (MDE) platform, this MACH-based (100% Microservices, API first, Cloud-native, and Headless) CCS makes it easy to create and quickly deploy new services in response to market demand.

 

Mavenir Digital Enablement can stand alone or overlay existing BSS and, with this CCS, enables CSPs to introduce disruptive use cases like new digital service brands or new digital MVNO services quickly and cost-effectively while avoiding extensive network-wide impacts. Mavenir’s CCS fully supports 3GPP Release 16 specifications and conforms to TM Forum Open API standards.

 

The extensible data model is vital for innovative CSPs looking to unlock and capitalize on new 5G revenue streams by quickly making changes to and incrementally evolving the system to handle new use-cases without losing time and capital on development. The highly flexible core data model is driven by an intuitive graphical rules engine that simplifies service creation with no-code/low-code design and templates that empower CSPs to create new plans and rules without additional coding.

 

“In the new, use-case-driven future, the importance of an agile and robust charging and monetization platform becomes paramount,” said Sandeep Singh, GM Digital Enablement Business Unit. “Mavenir's composable architecture makes the transition much easier, allowing CSPs to install this CCS alongside existing charging solutions, starting with a small collection of microservices, incrementally growing, and eventually migrating to the new solution.”

 

Added Singh, “The unique stateless architecture allows distribution of various CCS microservices to either a single centralized data center, or multiple distributed data centers, including edge data centers. This provides CSPs the advantage of supporting a robust and scalable solution with a small footprint. CSPs can then easily launch new Ultra-Reliable Low Latency Communication (URLLC) and massive Machine Type Communications (mMTC) use cases requiring edge deployment for ultra-low latency needs.”

 

Underpinned by a modular design, Mavenir provides CSPs with a variety of commercial solutions to fit their individual needs. Mavenir’s CCS can be deployed as a lightweight CHF solution for handling 5G Nchf traffic to generate network usage records without the need for any rating. Other packages include online, offline, or converged 5G rating and monetization handlers and 4G Diameter online traffic handlers for supporting both OCS and CCS use-cases in a unified solution.

 

About Mavenir

 

Mavenir is building the future of networks and pioneering advanced technology, focusing on the vision of a single, software-based automated network that runs on any cloud. As the industry’s only end-to-end, cloud-native network software provider, Mavenir is focused on transforming the way the world connects, accelerating software network transformation for 250+ Communications Service Providers in over 120 countries, which serve more than 50% of the world’s subscribers. For information about Mavenir, visit: www.mavenir.com.

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20211028005238/en/

Mavenir Announces Its Cloud-native, Modular, and Microservices-based Converged Charging Solution (CCS)

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Business Wire India

Mavenir, the Network Software Provider building the future of networks with cloud-native software that runs on any cloud and transforms the way the world connects, announces its cloud-native, modular, and microservices-based Converged Charging Solution (CCS), which enables Communications Service Providers (CSPs) to creatively monetize Network-as-a-Service from 3G, 4G, and 5G networks. As a component of the Mavenir Digital Enablement (MDE) platform, this MACH-based (100% Microservices, API first, Cloud-native, and Headless) CCS makes it easy to create and quickly deploy new services in response to market demand.

 

Mavenir Digital Enablement can stand alone or overlay existing BSS and, with this CCS, enables CSPs to introduce disruptive use cases like new digital service brands or new digital MVNO services quickly and cost-effectively while avoiding extensive network-wide impacts. Mavenir’s CCS fully supports 3GPP Release 16 specifications and conforms to TM Forum Open API standards.

 

The extensible data model is vital for innovative CSPs looking to unlock and capitalize on new 5G revenue streams by quickly making changes to and incrementally evolving the system to handle new use-cases without losing time and capital on development. The highly flexible core data model is driven by an intuitive graphical rules engine that simplifies service creation with no-code/low-code design and templates that empower CSPs to create new plans and rules without additional coding.

 

“In the new, use-case-driven future, the importance of an agile and robust charging and monetization platform becomes paramount,” said Sandeep Singh, GM Digital Enablement Business Unit. “Mavenir's composable architecture makes the transition much easier, allowing CSPs to install this CCS alongside existing charging solutions, starting with a small collection of microservices, incrementally growing, and eventually migrating to the new solution.”

 

Added Singh, “The unique stateless architecture allows distribution of various CCS microservices to either a single centralized data center, or multiple distributed data centers, including edge data centers. This provides CSPs the advantage of supporting a robust and scalable solution with a small footprint. CSPs can then easily launch new Ultra-Reliable Low Latency Communication (URLLC) and massive Machine Type Communications (mMTC) use cases requiring edge deployment for ultra-low latency needs.”

 

Underpinned by a modular design, Mavenir provides CSPs with a variety of commercial solutions to fit their individual needs. Mavenir’s CCS can be deployed as a lightweight CHF solution for handling 5G Nchf traffic to generate network usage records without the need for any rating. Other packages include online, offline, or converged 5G rating and monetization handlers and 4G Diameter online traffic handlers for supporting both OCS and CCS use-cases in a unified solution.

 

About Mavenir

 

Mavenir is building the future of networks and pioneering advanced technology, focusing on the vision of a single, software-based automated network that runs on any cloud. As the industry’s only end-to-end, cloud-native network software provider, Mavenir is focused on transforming the way the world connects, accelerating software network transformation for 250+ Communications Service Providers in over 120 countries, which serve more than 50% of the world’s subscribers. For information about Mavenir, visit: www.mavenir.com.

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20211028005238/en/

FedEx Express Study Reveals India is Future-Ready

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Business Wire India

FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, today revealed the findings of its ‘Future is Now’ study* that offers insights into India’s readiness to embrace the future.
 
India is at the cusp of change, with the pandemic accelerating the country’s digital transformation. From healthcare to education, banking to manufacturing, technology is transforming every sector, giving rise to a future full of possibilities. According to the study, which surveyed more than 4,000 respondents in 18 cities, 79% stated that India was prioritizing technology like Artificial Intelligence, the Internet of Things, and Blockchain to deliver a future-ready world. Approximately 83% believed technology they’d seen in science fiction movies is either already a part of their daily lives, or likely to be in the next few years. 
 
With the trend of technology-led change likely to continue, specific industries were identified as major drivers in shaping the cities of the future, with healthcare (35%), infrastructure and logistics (21%), and banking and finance (18%) believed to be leading the change.
 
Mohamad Sayegh, Vice President, India Operations for FedEx Express, said, “At FedEx we have a legacy of innovation spanning several decades, and we constantly innovate to create solutions for the world in responsible and resourceful ways. With the shift towards digital transformation accelerating, innovations and cutting-edge technologies with a focus on sustainability are poised to drive the future of business. Further progress in Blockchain, IoT, Automation, and Robotics is not only going to lead the way for the logistics industry, but all industries in the future.”

The ‘Future is Now’ study focused on three main views: being dynamic, how India is open to experimentation and innovation, and to what degree the country is sustainability conscious. The findings indicated that future success will likely rely on businesses structuring their approach around these three outlooks.
 
The future is dynamic
Regardless of industry, companies must monitor the pulse of their consumers, anticipate their needs, and stay one step ahead of their rapidly evolving expectations. The pandemic accelerated change in almost every aspect of life, from how we live and work, to how businesses interact with their customers, and how customers purchase products and services.
 
The FedEx study shows that businesses are already working to keep pace with this change, with about 87% respondents stating that over the past year, companies demonstrated their ability to understand ‘What’s next?’ and present possible solutions.
 
An openness to experimentation is indispensable to a future-ready mindset
India has jumped ranks in the Global Innovation Index and is home to a thriving start-up ecosystem that propels transformation with new ideas and solutions.

In an increasingly dynamic environment, success for businesses hinges upon pushing the envelope and fostering a culture of experiment-led innovation. A majority of 91% of those polled in the FedEx survey, believe that organizations, communities, or even individuals who experiment and adopt change are better equipped to navigate through future challenges.
 
A sustainable mindset isn’t a choice, but rather, a business imperative for success
Consumers today are growing more conscious of the impact their choices have on the world around them - whether it pertains to the environment or their communities. Even their purchasing decisions are increasingly influenced by their perception of an organization being sustainable and responsible. According to the FedEx study, three quarters (75%) agreed that individuals, communities, etc. that have a ‘futuristic’ outlook are more environmentally conscious. In fact, 71% of the respondents claimed that, as decision-makers in a futuristic business, sustainability would be crucial and their top priority.
 
The response from the study participants is clear: organizations must continue to re-evaluate and revamp their sustainability strategies to help ensure relevance to their customers and resilience for the long term.
 
As the world keeps evolving, technology and trends will likely drive changes in lifestyle, behaviors and attitude. For both businesses and individuals, embracing a future that offers endless possibilities and having a mindset that is dynamic, experimental, and sustainable will be imperative to staying one step ahead of the curve.

Boehringer Ingelheim announces European Medicines Agency's filing acceptance and validation of marketing authorization application for spesolimab in generalized pustular psoriasis

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Business Wire India

Boehringer Ingelheim announced today that the company’s marketing authorization application (MAA) for the treatment of flares in generalized pustular psoriasis (GPP), has been validated and is now under evaluation with the European Medicines Agency (EMA).

 

“GPP is a rare, life-threatening neutrophilic skin disease characterized by painful, sterile pus-filled blisters, that can suddenly appear over the body,” said Dr. Janine Lamar, Global Spesolimab Lead at Boehringer Ingelheim. “Despite its name, GPP is very different to the more common plaque psoriasis. With no approved treatments in the EU for GPP flares, acceptance of the application for review of spesolimab brings us one step closer to providing a targeted treatment for people with this distressing, unpredictable and painful skin condition.”

 

GPP is characterized by episodes of widespread eruptions of painful, sterile pustules (blisters of non-infectious pus).^1,2,3 The inflammation can also affect other parts of the body and can lead to infections or other organ complications that may be life-threatening.

 

There is a high unmet need for treatments that can rapidly and completely resolve the symptoms of GPP flares. Flares greatly affect a person’s quality of life⁴ and can lead to hospitalization with life-threatening complications, such as heart failure, renal failure, sepsis and even death.⁵

 

The marketing authorization application was based on the 12 week Effisayil-1 trial; a multi-center, double-blind, randomized, placebo-controlled trial that evaluated efficacy, safety, and tolerability of spesolimab (single dose 900 mg spesolimab i.v., with the option of a 2nd dose if symptoms persisted on Day 8) in patients experiencing a GPP flare.⁶ The study demonstrated superiority over placebo in pustular clearance after one week of treatment.

 

Please click on the following link for ‘Notes to Editors’:

 

http://www.boehringer-ingelheim.com/press-release/ema-filing-acceptance-and-validation-spesolimab

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20211029005027/en/

Zendesk to Acquire Momentive and its Iconic SurveyMonkey Platform, also Announces Q321 Earnings

Beloved customer service and customer feedback brands will create powerful new Customer Intelligence company that enables businesses to build more meaningful relationships

Combination expected to be growth accretive by 2023 and accelerate Zendesk’s revenue plan to $3.5 billion in 2024

Zendesk (NYSE: ZEN) and Momentive (NASDAQ: MNTV) have entered into a definitive agreement under which Zendesk will acquire Momentive, including its iconic SurveyMonkey platform. The terms of the transaction provide for Momentive stockholders to receive 0.225 shares of Zendesk stock for each share of Momentive stock, a ratio which represents an implied value of approximately $28 per outstanding share of Momentive stock based on the 15-day volume weighted average price of Zendesk common stock up to and including October 26, 2021.

Zendesk expects the combination to be growth accretive in its first full operating year and accelerate Zendesk’s revenue plan to $3.5 billion in 2024, one year ahead of its previous target. The companies’ respective sizable customer bases and complementary capabilities are expected to provide significant opportunity for joint product adoption and increasing Momentive’s enterprise traction. Zendesk will reinvest savings from scale efficiencies into compelling growth opportunities to support the combination. Upon the close of the transaction, Momentive CEO Zander Lurie will continue to lead Momentive’s strong management team.

“The SurveyMonkey brand is iconic and we’ve admired their business from afar since the inception of Zendesk. They truly democratized an industry—almost everyone in the world has responded to one of their surveys at some point,” said Mikkel Svane, CEO & Founder, Zendesk. “We’re very excited to have them join the Zendesk mission along with Momentive’s market research and insights products and together create a powerful new Customer Intelligence company. We will deliver a rich, colorful picture of every customer so businesses really understand their customers and can build more authentic relationships.”

“We look forward to combining with Zendesk to advance our mission and accelerate our long-term growth strategy,” said Zander Lurie, CEO, Momentive. “This is a testament to the strength of our agile products and talented team. Zendesk and Momentive share a culture centered around our people, our communities and the customers we serve. The synergies between our companies are proximate and compelling. We are uniquely positioned to make Customer Intelligence a reality while delivering significant value for our shareholders.”

Acquisition to Create Powerful New Customer Intelligence Company

In today’s digital-first economy, it is imperative to build more meaningful relationships with customers. Meaning comes from a deep understanding of the customer and their experiences. Although businesses often have an endless supply of data, they lack actionable and personalized customer intelligence. Instead, businesses are left with a picture of the customer that is one dimensional, impersonal and incomplete.

Zendesk pioneered the ability to respond to what customers say and do, making it easier to deliver superior customer service. Momentive is a leader in capturing how customers think and feel, helping companies make critical decisions quickly and confidently.

With Momentive, Zendesk will create what businesses really need—a customer intelligence company that connects what customers say and do, with how they think and feel. The combination will give businesses the ability to:

• Listen to your customers: Collect critical information about customer needs, experiences and expectations
• Develop a rich picture: Bring a customer into focus by combining transactional data with market research and insights for the context to truly understand them
• Act on insights: Empower teams to take action with the full breadth of data about their customers as well as feedback and market insights to improve customer interactions

Transaction Terms

Following a comprehensive review, the boards of directors of Zendesk and Momentive have approved the transaction.

The terms of the transaction provide for Momentive stockholders to receive 0.225 shares of Zendesk stock for each share of Momentive stock, a ratio which represents an implied value of approximately $28 per outstanding share of Momentive stock based on the 15-day volume weighted average price of Zendesk common stock up to and including October 26, 2021. Upon closing of the transaction, Zendesk stockholders will own approximately 78% of the combined company and Momentive stockholders will own approximately 22% of the combined company. The transaction, which is anticipated to close in the first half of 2022, is subject to approval by Zendesk stockholders and Momentive stockholders, the receipt of required regulatory approvals and other customary closing conditions. The transaction is intended to qualify as a tax-free reorganization for U.S. federal income tax purposes.

Zendesk has published a presentation to provide an overview of the transaction, available on both Zendesk and Momentive’s investor relations websites. Additional details and information about the terms and conditions of the transaction will be available in Current Reports on Form 8-K to be filed by Zendesk and Momentive with the Securities and Exchange Commission.

Quarterly Financial Results

In separate press releases issued today, Zendesk announced financial results for the third quarter of 2021 and Momentive announced preliminary results for its third quarter of 2021. Momentive will issue a press release to share its full third quarter financial results on November 9, 2021.

About Momentive

Momentive (formerly SurveyMonkey) is a leader in agile experience management, delivering powerful, purpose-built solutions that bring together the best parts of humanity and technology to redefine AI. Momentive products, including GetFeedback, SurveyMonkey, and its brand and market insights solutions, empower decision-makers at 345,000 organizations worldwide to shape exceptional experiences. More than 20 million active users rely on Momentive to fuel market insights, brand insights, employee experience, customer experience, and product experience. Ultimately, the company’s vision is to raise the bar for human experiences by amplifying individual voices. Learn more at www.momentive.ai.


About Zendesk

Zendesk started the customer experience revolution in 2007 by enabling any business around the world to take their customer service online. Today, Zendesk is the champion of great service everywhere for everyone, and powers billions of conversations, connecting more than 100,000 brands with hundreds of millions of customers over telephony, chat, email, messaging, social channels, communities, review sites and help centers. Zendesk products are built with love to be loved. The company was conceived in Copenhagen, Denmark, built and grown in California, taken public in New York City, and today employs more than 5,000 people across the world. Learn more at www.zendesk.com.

How To Establish Foreign Companies in India

The tremendous growth of the Indian market attracts global businesses to set up companies in the country. With market fluctuations and fierce competition, it is critical for a company to have qualified staff at every stage. with enormous human potential and a market opportunities in India have drawn a considerable amount of foreign direct investment, and the quantity of FDI entry into the country is increasing each year as a number of foreign enterprises begin operations in India.

Now a days there are various ways for a foreign organization to establish a business in India. There are two main ways to enter the country: one is to register as a foreign company, and the other is to register as a totally Indian entity.

Foreign Companies' entry strategy into India -

• Branch Office
• Private Limited Company
• Liaison Office
• Joint Ventures
• Project Office
• Limited Liability Partnership

Branch Office - A Branch Office is an extension of a foreign corporation that is not incorporated. Branch office can conduct commercial activity on behalf of the parent firm. The branch office can perform import and export, provide information technology services, research, provide technical support for products supplied by its parent company, and Provide consultancy support.

As per the RBI (Reserve bank of India) foreign company in India can only interfere if the branch office is working in the SEZs (Special Economic Zone), otherwise RBI restricts the working of the branch office in the activities such as directly engaging in their manufacturing, retail trading of any type, and processing activities.

To establish a Branch Office, the parent firm must have made a profit in the previous five financial years and have a net worth of at least USD 100,000 or its equivalent. It must also submit an application to the Reserve Bank of India for clearance under the Foreign Exchange Management Act of 1999.

Private Limited Company - For foreign nationals and international companies, forming a private limited company is the simplest and fastest way to enter India. The automatic route allows foreign direct investment of up to 100 percent in a private limited business or limited corporation with no need for Central Government approval. As a result, forming a private limited company as a wholly owned subsidiary or joint venture of a foreign company is the cheapest, easiest, and fastest way for international companies and foreign persons to enter India.

Liaison Office - A Liaison Office is a commercial location that serves as a communication link between a company's headquarters, or major place of business, and its Indian subsidiaries. However, it is unable to engage in any trading, economic, or manufacturing activity, either indirectly or directly, and relies completely on remittances received from overseas through traditional banking channels to survive.

To be eligible for a Liaison Office, a foreign firm must have made a profit in the previous three financial years and have a net value of at least USD 50,000 or its equivalent. Furthermore, the RBI and ultimately the MCA must authorize its registration.

Permission to operate a Liaison Office was originally granted for a three-year period, which can be extended later. The approval process normally takes 40 days. The cost of starting up, including all tax registrations, is between $ 2000 and $2500 USD.

Joint Ventures - A Joint Venture is an agreement between at least two companies or individuals to pool funds or goods in order to complete a project. It can have up to 100 participants. A foreign corporation and its Indian partner sign a Joint Venture or a Memorandum of Understanding arrangement for the long term or for a specific project. The Indian Partnership Act of 1932 governs it.

In India, Joint Venture are prevalent in industries where foreign direct investment (FDI) is not allowed to be 100 percent. It carries a modest risk for its foreign partners as long as these partners undertake due diligence on their Indian partners. It not only allows foreign corporations to use their Indian partners' existing networks, but it also allows them to send their profits outside of India after paying taxes. Joint ventures are subject to a 30 percent corporate tax rate, plus a Surcharge and Cess.

Project Office - A Project Office (PO) functions similarly to a branch office, with the exception that the former is set up to carry out a specific project in India. A liaison office is not included. A foreign corporation must have received a contract from an Indian company to undertake a project in India before establishing a project office. It is prohibited from engaging in any activity other than those related to the project.

Furthermore, the project can only be supported by the Indian body that gave it, inbound remittances from outside, multilateral or bilateral foreign financial institutions, or a term loan from an Indian bank.

If a project office wants to set up there business in India then company needs to pay 40 percent of corporate tax, 5 percent on taxable income if income is more than 10 crore, 4 percent on education and health cess will be applicable, 2 percent on the taxable income if income is more than 1 crore, but less than 10 crore.

Limited Liability Partnership - A Limited Liability Partnership is a type of corporate entity that provides limited liability for its members while also allowing them to organize their internal administration through agreement, as in a joint venture. The provisions of the Limited Liability Partnership Act of 2008 regulate it.

An LLP can only be formed by a foreign company in industries where the RBI allows 100 percent foreign direct investment. These constraints have been significantly loosened in recent years, and the number of businesses that can join an LLP is growing.

An LLP, like an LLC, can hold property, generate money, and transfer revenues overseas. In comparison to an LLC, it involves less paperwork and record keeping, and it has a reputational advantage over a joint venture.

It is taxed at 30 percent, with a 12 percent surcharge if total income exceeds one crore. To provide convincing confirmation of the company's existence, a Limited Liability Partnership must be registered with the Ministry of Corporate Affairs.

Documents which are required to establish a company in India

• Foreign nationals who will serve as Directors of the Firm must present a copy of their passport as well as evidence of address to register the company (Drivers License, Bank Statement, etc.,).
• A Notary in the home country or the Indian Embassy in the overseas Director's country must notarize a copy of the original documents.
• A Board Resolution from the foreign company allowing the investment in the Indian Company would also be required if a corporate entity became a shareholder in the Indian Company.
• Attach the Board Resolution, a copy of the notice, and the foreign entity's certificate of incorporation.

At the time of the incorporation process foreign client does not required to be in India, due to which it make easy for the foreign directors to start a business in India.

Conclusion

The size, aspirations, and planned trajectory of a company must all be considered before deciding whether to open an office, a firm, or a corporation in India. To make an informed decision. Contact for any further assistance with the formation of the foreign company in India.

Author Bio

Ishita Ramani is a young female entrepreneur who works for EbizFiling India Private Limited as the operations director. She has led a staff of 50+ professionals, including CAs, CSs, MBAs, and retired bankers, over the course of her career. She developed a broad understanding of all aspects of Indian statutory compliance, including business incorporation, legislation, and taxation. She has been crucial in successfully guiding and building up activities at Ebizfiling throughout her career.

FedEx Express Study Reveals India is Future-Ready

Business Wire India

FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, today revealed the findings of its ‘Future is Now’ study* that offers insights into India’s readiness to embrace the future.
 
India is at the cusp of change, with the pandemic accelerating the country’s digital transformation. From healthcare to education, banking to manufacturing, technology is transforming every sector, giving rise to a future full of possibilities. According to the study, which surveyed more than 4,000 respondents in 18 cities, 79% stated that India was prioritizing technology like Artificial Intelligence, the Internet of Things, and Blockchain to deliver a future-ready world. Approximately 83% believed technology they’d seen in science fiction movies is either already a part of their daily lives, or likely to be in the next few years. 
 
With the trend of technology-led change likely to continue, specific industries were identified as major drivers in shaping the cities of the future, with healthcare (35%), infrastructure and logistics (21%), and banking and finance (18%) believed to be leading the change.
 
Mohamad Sayegh, Vice President, India Operations for FedEx Express, said, “At FedEx we have a legacy of innovation spanning several decades, and we constantly innovate to create solutions for the world in responsible and resourceful ways. With the shift towards digital transformation accelerating, innovations and cutting-edge technologies with a focus on sustainability are poised to drive the future of business. Further progress in Blockchain, IoT, Automation, and Robotics is not only going to lead the way for the logistics industry, but all industries in the future.”

The ‘Future is Now’ study focused on three main views: being dynamic, how India is open to experimentation and innovation, and to what degree the country is sustainability conscious. The findings indicated that future success will likely rely on businesses structuring their approach around these three outlooks.
 
The future is dynamic
Regardless of industry, companies must monitor the pulse of their consumers, anticipate their needs, and stay one step ahead of their rapidly evolving expectations. The pandemic accelerated change in almost every aspect of life, from how we live and work, to how businesses interact with their customers, and how customers purchase products and services.
 
The FedEx study shows that businesses are already working to keep pace with this change, with about 87% respondents stating that over the past year, companies demonstrated their ability to understand ‘What’s next?’ and present possible solutions.
 
An openness to experimentation is indispensable to a future-ready mindset
India has jumped ranks in the Global Innovation Index and is home to a thriving start-up ecosystem that propels transformation with new ideas and solutions.

In an increasingly dynamic environment, success for businesses hinges upon pushing the envelope and fostering a culture of experiment-led innovation. A majority of 91% of those polled in the FedEx survey, believe that organizations, communities, or even individuals who experiment and adopt change are better equipped to navigate through future challenges.
 
A sustainable mindset isn’t a choice, but rather, a business imperative for success
Consumers today are growing more conscious of the impact their choices have on the world around them - whether it pertains to the environment or their communities. Even their purchasing decisions are increasingly influenced by their perception of an organization being sustainable and responsible. According to the FedEx study, three quarters (75%) agreed that individuals, communities, etc. that have a ‘futuristic’ outlook are more environmentally conscious. In fact, 71% of the respondents claimed that, as decision-makers in a futuristic business, sustainability would be crucial and their top priority.
 
The response from the study participants is clear: organizations must continue to re-evaluate and revamp their sustainability strategies to help ensure relevance to their customers and resilience for the long term.
 
As the world keeps evolving, technology and trends will likely drive changes in lifestyle, behaviors and attitude. For both businesses and individuals, embracing a future that offers endless possibilities and having a mindset that is dynamic, experimental, and sustainable will be imperative to staying one step ahead of the curve.

Moody's ESG Solutions' Climate on Demand tool selected by the Private Infrastructure Development Group

Business Wire India

Moody’s ESG Solutions announced today that the Private Infrastructure Development Group (PIDG) has selected Moody’s Climate on Demand scoring tool to assess climate risk exposure in its investment projects.

 

PIDG mobilizes private investment in sustainable and inclusive infrastructure in sub-Saharan Africa and south and south-east Asia. It will use Moody’s data to screen potential new investments for exposure to climate hazards based on their precise location, and to assess the physical climate risk exposure of assets in its existing portfolio. PIDG’s investment teams and project sponsors will also leverage the data to inform due diligence and climate risk management and mitigation measures.

 

“We need to ensure that new infrastructure is resilient to the changing climate, especially in the most vulnerable countries,” said Marco Serena, Head of Sustainable Development Impact at PIDG. “Using Moody’s data, we look forward to working with project sponsors and investee companies to understand more about the hazards that investments may be exposed to during their lifetime, and to support increased resilience to the impacts of climate change – not just on the assets themselves but also on the communities that use the infrastructure.”

 

Moody’s Climate on Demand tool provides a forward-looking view on assets’ exposure to physical climate risks including floods, heat stress, hurricanes and typhoons, sea level rise, water stress, and wildfires. It can score exposure to climate hazards out to the 2030-2040 decade for any location in the world. It allows users to examine specific risk drivers and explore the underlying indicators, capturing various dimensions of risk for each hazard.

 

“Integrating exposure to physical climate hazards into financing and development is essential to ensure the long-term viability of infrastructure assets, and to help inform targeted resilience measures,” said Emilie Mazzacurati, Global Head of Moody’s Climate Solutions. “We are pleased that PIDG has chosen to use our Climate on Demand tool as part of its critical efforts to drive investment in climate resilience.”

 

To learn more about Moody’s Climate Solutions, visit: https://esg.moodys.io/climate-solutions.

 

ABOUT MOODY’S ESG SOLUTIONS

 

Moody’s ESG Solutions Group is a business unit of Moody’s Corporation serving the growing global demand for ESG and climate insights. The group leverages Moody’s data and expertise across ESG, climate risk, and sustainable finance, and aligns with Moody's Investors Service and Moody's Analytics to deliver a comprehensive, integrated suite of ESG and climate risk solutions including ESG scores, analytics, Sustainability Ratings and Sustainable Finance Reviewer/certifier services. For more information, visit https://esg.moodys.io/solutions#solutions.

 

ABOUT PRIVATE INFRASTRUCTURE DEVELOPMENT GROUP

 

The Private Infrastructure Development Group (PIDG) is an innovative infrastructure project developer and investor which mobilises private investment in sustainable and inclusive infrastructure in sub-Saharan Africa and south and south-east Asia. PIDG investments promote socio-economic development within a just transition to net zero emissions, combat poverty and contribute to the Sustainable Development Goals (SDGs). PIDG delivers its ambition in line with its values of opportunity, accountability, safety, integrity and impact. Since 2002, PIDG has supported 171 infrastructure projects to financial close which provided an estimated 217 million people with access to new or improved infrastructure. PIDG is funded by the governments of the United Kingdom, the Netherlands, Switzerland, Australia, Sweden, Germany and the IFC. For more information visit www.pidg.org.

 

 

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Moody's ESG Solutions' Climate on Demand tool selected by the Private Infrastructure Development Group

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Business Wire India

Moody’s ESG Solutions announced today that the Private Infrastructure Development Group (PIDG) has selected Moody’s Climate on Demand scoring tool to assess climate risk exposure in its investment projects.

 

PIDG mobilizes private investment in sustainable and inclusive infrastructure in sub-Saharan Africa and south and south-east Asia. It will use Moody’s data to screen potential new investments for exposure to climate hazards based on their precise location, and to assess the physical climate risk exposure of assets in its existing portfolio. PIDG’s investment teams and project sponsors will also leverage the data to inform due diligence and climate risk management and mitigation measures.

 

“We need to ensure that new infrastructure is resilient to the changing climate, especially in the most vulnerable countries,” said Marco Serena, Head of Sustainable Development Impact at PIDG. “Using Moody’s data, we look forward to working with project sponsors and investee companies to understand more about the hazards that investments may be exposed to during their lifetime, and to support increased resilience to the impacts of climate change – not just on the assets themselves but also on the communities that use the infrastructure.”

 

Moody’s Climate on Demand tool provides a forward-looking view on assets’ exposure to physical climate risks including floods, heat stress, hurricanes and typhoons, sea level rise, water stress, and wildfires. It can score exposure to climate hazards out to the 2030-2040 decade for any location in the world. It allows users to examine specific risk drivers and explore the underlying indicators, capturing various dimensions of risk for each hazard.

 

“Integrating exposure to physical climate hazards into financing and development is essential to ensure the long-term viability of infrastructure assets, and to help inform targeted resilience measures,” said Emilie Mazzacurati, Global Head of Moody’s Climate Solutions. “We are pleased that PIDG has chosen to use our Climate on Demand tool as part of its critical efforts to drive investment in climate resilience.”

 

To learn more about Moody’s Climate Solutions, visit: https://esg.moodys.io/climate-solutions.

 

ABOUT MOODY’S ESG SOLUTIONS

 

Moody’s ESG Solutions Group is a business unit of Moody’s Corporation serving the growing global demand for ESG and climate insights. The group leverages Moody’s data and expertise across ESG, climate risk, and sustainable finance, and aligns with Moody's Investors Service and Moody's Analytics to deliver a comprehensive, integrated suite of ESG and climate risk solutions including ESG scores, analytics, Sustainability Ratings and Sustainable Finance Reviewer/certifier services. For more information, visit https://esg.moodys.io/solutions#solutions.

 

ABOUT PRIVATE INFRASTRUCTURE DEVELOPMENT GROUP

 

The Private Infrastructure Development Group (PIDG) is an innovative infrastructure project developer and investor which mobilises private investment in sustainable and inclusive infrastructure in sub-Saharan Africa and south and south-east Asia. PIDG investments promote socio-economic development within a just transition to net zero emissions, combat poverty and contribute to the Sustainable Development Goals (SDGs). PIDG delivers its ambition in line with its values of opportunity, accountability, safety, integrity and impact. Since 2002, PIDG has supported 171 infrastructure projects to financial close which provided an estimated 217 million people with access to new or improved infrastructure. PIDG is funded by the governments of the United Kingdom, the Netherlands, Switzerland, Australia, Sweden, Germany and the IFC. For more information visit www.pidg.org.

 

 

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New Study Finds Salesforce Economy in India Will Create 1.3 Million Jobs and USD 66.4 Billion in New Business Revenues by 2026

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Business Wire India
Salesforce (NYSE: CRM), the global leader in CRM, today announced a new third party study addendum from IDC that finds Salesforce and its ecosystem of partners in India will create 1,328,200 jobs among Salesforce customers in the country, this includes 569,800 direct jobs and 758,400 indirect jobs by 2026¹.
 
Salesforce partner ecosystem drives worldwide acceleration of growth

For more than half a decade now, IDC has been forecasting the economic benefits of cloud computing under the premise that cloud computing frees up IT resources from routine tasks to be available to support business innovation. 
 
In India, the growth of cloud software is also driving economic benefits. According to IDC, the demand for cloud services is set to grow 22%, from $2.6 billion in 2020 to $8.5 billion in 2026².

Over the same period, the use of cloud computing by Salesforce customers will add a net $66.4 billion in new business revenue to the local economy. The study also finds that Salesforce is driving immense growth for its partner ecosystem in India, which will make $6.55 for every $1 Salesforce makes locally by 2026³.
 
Salesforce creates pathways to help unlock career opportunities in the Salesforce Economy

24% of new jobs⁴ created in India in the Salesforce customer base this year leverage significant digital skills — such as using automation tools, the Internet of Things ( IoT), and other complex applications. Trailhead, Salesforce's free online learning platform, and its Trailblazer Community, which helps accelerate this learning through peer-to-peer knowledge sharing and support, empowers users to learn digital skills for the growing Salesforce economy.
 
[Tableau embed: Global new jobs, new business revenue & partner ecosystem: link https://public.tableau.com/app/profile/salesforce.newsroom1206/viz/IDCSalesforceEconomy2021CountryMap/D_IDC_Map?publish=yes]
 
Executive Quotes:

Arundhati Bhattacharya, Chairperson & CEO, Salesforce India, said “The growth in the Salesforce Economy really does go back to the idea of collaboration and community. The Salesforce partner ecosystem is critical to extending the power of Salesforce to companies of all sizes, across industries and we are committed to providing our expanding partner ecosystem with the tools needed to succeed in the jobs of the future. For Salesforce, it's not only about creating new technology and career opportunities; we have to create pathways to these new jobs. We’ve made it our mission to empower people with the tools they need to build dynamic careers, companies, and communities with Salesforce and thrive in a digital-first world.”
 
How Salesforce is creating job-ready candidates to fuel the Salesforce Economy
 
Salesforce has a number of programs and initiatives to help create the jobs of the future—and to fill them with well-equipped candidates:
 
The Trailblazer Community is a global network of millions of people who help each other learn new skills and succeed with Salesforce. The Trailblazer Community offers an online platform to connect from anywhere, as well as more than 1,300 active regional and interest-based groups around the world. Members share their guidance and expertise and support each other as they build careers and companies with Salesforce. A survey found that to date, 3 in 5 Trailblazers credit their participation in the Trailblazer Community with helping them get a new job or promotion.
 
Trailhead has empowered nearly 3.5 million people globally to learn in-demand skills for the future of work. With Trailhead, learners can skill up for free from anywhere. Users can earn globally-recognized credentials for careers in the Salesforce ecosystem. Trailhead provides guided career paths for Salesforce roles, and is introducing three new roles to create entry points into some of the fastest-growing fields today: Marketer, Sales, and Designer.
 
The Salesforce Talent Alliance is an initiative that connects Salesforce partner companies to job candidates trained on Salesforce via Trailhead and brings new, diverse talent into the fast-growing ecosystem.
 
What is the Salesforce Economy?
 
IDC defines “The Salesforce Economy” as the footprint of Salesforce and its partner ecosystem on the economy at large. This includes the revenues and jobs directly generated in the Salesforce customer base from the use of Salesforce and its partners’ cloud services, as well as jobs created indirectly in the economy by local spending by direct employees and Salesforce and its partners themselves.
 
Salesforce’s multi-faceted partner ecosystem is a driving force behind the Salesforce Economy’s massive growth:

• The Salesforce partner ecosystem can help customers grow faster. Throughout a customer’s journey, partners fill technology whitespace and offer solutions across products, industries, and regions. The Salesforce partner ecosystem includes consulting partners, independent software vendors (ISVs), and resellers that bring the power of apps and expertise to solve any customer challenges.
• Launched in 2006, Salesforce AppExchange is the world’s leading enterprise cloud marketplace, with over 6,700 partner listings and more than 9 million installs.

Additional Resources

• Download a full copy of the IDC White Paper, “The Salesforce Economic Impact”.
• Explore data from the IDC White Paper in Tableau.
• Learn more about the 2021 Partner Innovation Awards here.
• Learn more about Salesforce’s partner ecosystem here.
• Read more about Salesforce’s Pathfinder Program and the top 3 lessons learned about training the tech workforce of the future here

IDC Methodology
 
The Salesforce Economic Impact Model is an extension to IDC's IT Economic Impact Model. It estimates Salesforce's current and future share of the benefits to the general economy generated by cloud computing, and it also estimates the size of the ecosystem supporting Salesforce using IDC's market research on the ratio of spending on professional services to cloud subscriptions; the ratio of sales of hardware, software, and networking to spending on public and private cloud computing; and the ratio of spending on application development tools to applications developed.
 
Note that the ecosystem may include companies that are not formal business partners of Salesforce but that nevertheless sell products or services associated with the Salesforce implementations.

IDC White Paper, sponsored by Salesforce, “The Salesforce Economic Impact,” doc #US48214821, September 20, 2021

^1,2,3,4  IDC Salesforce Economy 2021 - Country Map

Lineage Logistics Launches Nonprofit Lineage Foundation for Good

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Business Wire India

~ The Foundation will leverage the access, influence, experience, and expertise of the world’s largest temperature-controlled REIT and logistics solutions provider to reduce food waste and fight global food insecurity ~

~ The Foundation was created by a $3 million gift from Lineage Logistics, LLC ~

 

Lineage Logistics, LLC (“Lineage” or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, today announced the launch of the Lineage Foundation for Good (the “Foundation”), an independent nonprofit aimed at reducing food waste and fighting food insecurity to support the global communities where over 21,000 of Lineage’s team members live and work.

 

According to the Food and Agriculture Organization of the United Nations (FAO) and the UN Environment Programme (UNEP), an estimated one-third of all food produced globally for human consumption is wasted. Of that number, over 40% is attributed to wasted food in the U.S., which equates to roughly 1.3 billion tons of food and 7% of greenhouse gas emissions. By comparison, 30% of temperature-controlled food products in the U.S. and nearly 10% globally travel through Lineage’s warehouse network. As a result, the Company’s unique visibility into its customers’ inventories and the greater food supply chain allows Lineage to proactively identify and facilitate donations of product that might have otherwise gone to waste.

 

“Given our role in the food supply chain, Lineage recognized that we are in a unique position to leverage our global network of resources to make an impact in the communities where we live and work,” said Greg Lehmkuhl, Lineage’s President and CEO. “The Lineage Foundation for Good creates a real-time link to redirect for donation quality products from food producers and manufacturers that might otherwise go to waste. The Foundation will further fuel our purpose to help feed the world and reimagine the global food ecosystem by limiting its environmental impact through food waste.”

 

The Foundation, which was created by a $3 million gift from Lineage, will leverage the Company’s access, influence, experience, and expertise in areas like logistics, automated warehousing, cold storage, data science, and distribution to address and improve the global food supply chain’s carbon imprint, reimagine industry processes that have historically led to food waste, and quickly redirect food to be distributed to communities around the world. Darcee Scavone, Lineage’s Vice President of Talent, Culture and Community Engagement, will oversee coordination between the Company and the Foundation and serve as the point of contact internally.

 

“Heightened by the COVID-19 pandemic, food insecurity is a pressing issue that millions around the globe are facing. Now, more than ever, people need access to quality food, and we are proud to be part of the solution to bring it to them,” said Darcee Scavone. “We have long partnered with the Global FoodBanking Network and Feeding America® and are building on this commitment by putting a vehicle – the connective tissue – in place to facilitate both food and financial donations, as well as promote volunteerism, globally.”

 

In addition to supporting Lineage’s philanthropic efforts, the Foundation will also support initiatives and organizations that align to its mission and work towards innovative and sustainable solutions to help reduce waste and fight food insecurity.

 

“Efforts to alleviate hunger and reduce food loss and waste are interlinked and vitally important,” said Lisa Moon, CEO and president of The Global FoodBanking Network. “Lineage Logistics has already demonstrated its commitment to addressing these issues by partnering with food banks globally, and the creation of the Lineage Foundation for Good further underscores this commitment. GFN is looking forward to the increased impact that will be possible as we work together to support community-driven solutions to address food insecurity worldwide.”

 

“America has more than enough food to feed everyone. But each year, billions of pounds of perfectly good food go to waste,” said Casey Marsh, Chief Development Officer at Feeding America. “Feeding America is the country's largest food rescue organization, and we applaud Lineage Logistics in their efforts to assure food isn’t wasted and gets to food banks serving our neighbors.”

 

In addition to partnering with the Global FoodBanking Network and Feeding America, the Foundation also works with similarly minded regional and local organizations.

 

The Foundation operates as a public charity under its own leadership and organizational structure, including a Board of Directors that will oversee all activities and business affairs. The Foundation also plans to accept multi-year annual contributions from Lineage, as well as gifts and direct donations from other individuals and organizations whose work is aligned with its mission to fight food insecurity, reduce food waste, and feed the world.

 

For more information and updates, please visit Lineage Foundation for Good.

 

About Lineage Foundation for Good

 

The Lineage Foundation for Good (the “Foundation”) is the independent philanthropic arm of Lineage Logistics, LLC (“Lineage”). The Foundation leverages the unique access, influence, experience, and expertise of Lineage, one of the world’s largest temperature-controlled logistics solutions providers, and its customers and partners to reduce food waste and fight food insecurity – a need that was accelerated by the practical challenges of getting quality food to those in need during the COVID-19 pandemic. Central to the Foundation’s mission is to develop a dynamic, real-time, and global link between those who commercially produce our food and the individuals, families, and communities who need it most. The Foundation creates a system in which food products, including those that might have otherwise gone to waste, can be quickly and easily steered to food pantries and other non-profits combatting food insecurity around the world. The Foundation supports various philanthropic initiatives that have an impact in the communities in which we live and work, and is proud to partner with Feeding America, the Global FoodBanking Network, and other organizations to expand its reach, maximize its impact, and help feed the world.

 

About Lineage Logistics

 

Lineage Logistics is the world’s largest temperature-controlled industrial REIT and logistics solutions provider. It has a global network of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 15 countries across North America, Europe and Asia-Pacific. Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was listed as No. 17 in the 2021 CNBC Disruptor 50 list, the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020.

 

 

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