It's Friday! Hope y'all are excited for the weekend as am I. So some breaking news to start the morning off- Intel to invest $253.5 million in India’s Reliance Jio for a 0.39% stake. I can only assume this is the last of the investments in Jio, but who really knows? Coming to the day's news, we have some more Jio news with the launch of JioMeet & another EdTech company raises some more capital.
➡️ On the back of a successful fundraise & rights issue, it seems like Jio is launching their first new line of business with JioMeet- it's video conferencing app (with a lot of similarities to Zoom).
➡️ Jio seems to be entering the crowded market (Zoom, Google Hangouts, and others) by offering their service for free- unlimited calls in high definition, support for up to 100 participants, and call durations up to 24 hours (which seems a little excessive?)
➡️ The service is available on all major platforms- iOS & Android apps, on popular browsers through their web app, and native applications for Macs & Windows. They also have a Outlook plugin which is quite interesting (I haven't tried it out yet).
➡️ It seems like they want to target both consumers & enterprises with the launch of JioMeet and can leverage the "Jio" brand and reach for distribution. Jio is also thinking about building services on top of JioMeet to support other online interactions i.e for doctors & patients, and for teachers conducting classes on JioMeet.
➡️ Some consumers are angry(?) at Jio for largely copying Zoom's design. I personally see nothing wrong in this- why waste time reinventing the wheel? Would Jio really get much out of coming out with a completely unique UI- probably not.
➡️ The real question is if India adopts JioMeet. The government has already stopped using Zoom in April and advised companies to stop using Zoom as well, so that could give JioMeet a head up. Zoom's enterprise product is also not cheap (I don't know how they price it in India fwiw) but if JioMeet can continue offering their product for free and can keep up the quality with scale, I think it's a no-brainer to use JioMeet.
2. https://bit.ly/2BoepD3: Flintobox raises a $7.2M Pre-Series B
➡️ Chennai EdTech co Flintobox has raised $7.2M Pre-Series B led by Lightbox Ventures, who also led the company's $7M Series A back in Dec 2017.
➡️ The company aims to make the first experience with learning fun and intuitive for children through high-quality educational kits and tools.
➡️ The company's flagship product is an educational subscription-box focussed at activity-based learning for the ages 2-12, and is already being used by over a million families in India!
➡️ The company had also launched FlintoClass which the company calls a "pre-school in a box" and is being used by over 700 pre-schools in 8 countries with 125k students.
➡️ With the pandemic and closure of schools, the company has also launched a homeschooling product for parents for their kids who would have been going to pre-school during this time period. The product has seen some early traction with 3,000 enrollments already.
Feedback & ❤️ always appreciated BONUS (Tweet of the day): https://twitter.com/shrinivassg/status/1278911557137649664
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