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India's content creation market🤑, Homegrown firms hire👨🏻💻, Foxconn plans 300-acre plant in BLR🏭
Content creation market to reach over $24 Bn, Homegrown firms hire, Foxconn plans 300-acre plant in BLR, Funding Deals, Fact and more.
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India's online content creation market to reach over $24 billion by 2028🤑
India's online content creation market gains huge traction courtesy of the rise of digital technology and streaming platforms, it has become an intensely lucrative business.
The digital marketing landscape reached a value of close to $4.5 billion in 2022. The industry is growing at a compounded annual growth rate of more than 32 percent and is estimated to reach a value of over $24 billion by 2028.
According to a report by EY, the Indian content industry stood at a towering $19 billion valuation in 2020 and is expected to hit $30.6 billion this year.
Homegrown firms hire as Big Tech sheds staff👨🏻💻
Various homegrown firms, like microblogging platform Koo, e-commerce entity Pinnacle Solutions, and augmented reality tech platform mirrAR, are snapping up employees laid off by Big Tech companies like Meta Inc, Twitter, ShareChat.
According to experts, this is a good time for startups to hire tech talent available on the market at reasonable salaries.
Though the startups themselves are going through funding woes, the roles they are hiring for span product, growth, digital marketing and analytics.
Pidge, a software-as-a-service (SaaS) startup focused on the logistics industry has raised $3 million in funding led by Mountain Partners.
MITRA, a direct-to-consumer (D2C) food brand has raised an undisclosed amount in a seed funding round which was led by Bestvantage Investments.
Apple partner Foxconn plans 300-acre plant in Bengaluru, to create one lakh jobs🏭
Apple's major supplier Foxconn Technology Group plans to invest about $700 million on a new plant in Karnataka to ramp up local production in a bid to reduce dependence on China as Washington-Beijing tensions grow.
The Taiwanese company will build iPhone parts on the 300-acre site close to the airport in Bengaluru.
The factory may also be used to assemble Apple’s handsets and produce some parts for its nascent electric vehicle business.
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