Happy Monday and happy dussehra! Today we look at some of Netflix's strategies to expand its user base in India and Jumbotail raises a $10.5M Series B.
➡️ Netflix plans to experiment with free access to users in India for a weekend as part of its plan to expand its reach in the country. Netflix has been conducting various pricing experiments in India and several parts of the world over the past year or so, in a bid to broaden its user base while retaining its premium offering.
➡️ During the company's post-earnings call last week, the company's COO Greg Peters mentioned that the company is thinking of a one free weekend experiment as a way to expose potential new users to the service, with the hope that some of them will then sign up. The company stopped offering 30-day free trials in India earlier this year.
➡️ The company has been trying out different pricing strategies for India. Last July is launched a low-cost mobile-only plan for the Indian market at Rs 199 per month. It has also piloted a cheaper entry-level plans, weekly plans, discounted long-term subscription plans as well as free content access to non-members in the country for a limited time.
➡️ India is an important market for Nextflix, which has commissioned some 50 - 60 productions in the country, making its largest investment in original programming outside the US. The company has also partnered with Reliance Jio, to integrate its services with Jio's set-top boxes.
➡️ The Asia Pacific region was the largest contributor to Netflix's paid membership growth in the quarter ended September, accounting for 46% of the global paid additions during the quarter. But markets like India aren't easy to crack. Netflix faces competition from Disney+ Hotstar, Amazon Prime Video, Essel Group's ZEE5, and Times Internet*-owned MX Player, all of which offer more economical pricing packages. Given this it's hardly surprising that the company continues to tinker with its pricing strategy.
2. https://bit.ly/3or9kNN: Jumbotail raises $10.5M Series B
➡️ Bengaluru-based online B2B marketplace for food and grocery, Jumbotail, has raised $10.5M in a funding round led by USA-based JumboFund1 with Canada-based Heron Rock AL Access Funds and its JUM Fund II also participated in this round. About 22 investors had participated in this round, including Nexus Ventures, Science, Engineering and the Environment LLC (SEE), Pimpernel Holdings India, E Analytics Partners India.
➡️ Founded in 2015 by S Karthik Venkateswaran and Ashish Jhina, Jumbotail runs a B2B online marketplace for food and grocery primarily selling to wholesale buyers. It sells staples, spices, dry fruits, packaged foods and FMCG products to traders. The company says that the top FMCG brands and staple producers in the country work directly with Jumbotail.
➡️ Jumbotail aims to organise the food and grocery ecosystem using technology, data science, and design. Sellers (traders, manufacturers and brands) have an option to list their food, grocery and FMCG products on its marketplace.
➡️ To be honest, I think the company plays in a very interesting space and could be poised to benefit from the shift to e-commerce of grocery and other staples that has happened during Covid. Definitely an exciting space to watch.
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