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Hopin founder talks about what it takes to face a year of explosive growth

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This is the first in a series of conversations with founders of Slack Fund portfolio companies to explore their growth stories and their role in shaping the future of work. Slack Fund’s mission is to partner with entrepreneurs to create the next great software companies.

It will change jobs all over the world. In the first article in this series, Jason Spinell, director of the Slack Fund, talks to Hopin founder and CEO Johnny Boufarhat about the startup’s rapid growth over the past 18 months. Hopin platform in summer 2019 and early March 2020, he led a team of six employees. The business grew rapidly. After completing a seed round, Johnny and his team were in the process of redesigning their technology stack to manage on a larger scale.

A small number of organizations used Hopin to host live virtual events, and the platform’s waiting list included 10,000 of the world’s largest organizations. Hopin’s lawsuit exploded. Johnny realized they needed to open the Hopin platform quickly, and the company moved quickly to make this possible for companies that needed a platform like Hopin more than ever. A year later, the company employs more than 660 people. and more than 100,000 organizations around the world organizing events on the Hopin platform. I sat down with Johnny to talk about his journey and see what the future holds for Hopin.

This interview has been edited to be short and clear. Johnny Boufarhat: I started Hopin to connect with others because an autoimmune disease isolated and trapped me, networking, etc. really didn’t work. to create an online networking opportunity that really creates a bond between people. I made the first version of Hopin and we saw a lot of virality. We increased our seed round and officially launched it in March 2020. We grew fast, generated revenue quickly, and had a huge waiting list, but the hurdle was that our initial platform couldn’t handle scaling. We were in the process of rebuilding our systems when COVID19 occurred. Suddenly everyone wanted to use the platform.

We originally planned to release it towards the end of 2020, but instead, we decided to open the platform almost immediately and the virus rate was insane, especially for B2B software. We had to learn very quickly because as a founder I couldn’t offer customer support around the clock, so we started hiring a customer support team. It was the same pattern across the company, so we started hiring new employees faster and faster. The company is completely remote which allows us to find the best talent in the world and bring them up to speed quickly. Today at Hopin we have over 660 employees in 45 countries and support over 100,000 organizers who use the platform.

The steady march of a hybrid future Jason Spinell:

At Slack Fund we have long had this thesis about accelerating the future of work, and you and the Hopin team were the first to believe it. What does the “future of work” mean for you and what role do you think software plays in your setup? Johnny Boufarhat: In my opinion, the future of work could go a lot of different paths, but overall I think people want the flexibility of a hybrid approach. Our first major customer before the pandemic was an organization in New York City. They wanted to reach a global audience and they knew a hybrid event could help them do that. Not everyone in their audience could travel to New York, but they still wanted to reach out to these people, sell them tickets, and develop relationships with them. We firmly believe that hybrid events are the future. Why don’t you want to attract more people to your event? Why don’t you want to make your event more flexible? Back in the office or not, I think companies need to offer a hybrid option. It’s an incredible downside if you don’t have a flexible work environment, especially for employees with family or other responsibilities. I think most will embrace the hybrid if they haven’t already.

Supporting Exponential Growth Jason Spinell:

What long-term impact do you think the pandemic will have on the way we work and collaborate, and what is the role of hopin? Johnny Boufarhat: We’re excited. Not only will we be with the promoters virtually, but also on-site now, with our recent acquisition of Boomset. We want to be the all-in-one platform for event organizers to host an event and have a great experience for attendees, whether it’s physical, virtual or both.

Our mission as a company is to make the world seem smaller, and there is no better way than giving people the flexibility to participate from anywhere.

Jason Spinell: You spoke about the scope and flexibility that hybrid work has made possible. But what challenges do you think companies have to master or address in order for hybrid work to be successful? What tools do you use at Hopin to help you with this?

Johnny Boufarhat: There are so many great products. Years ago, you could not have run a remote business as efficiently as you do today. Today I think there is an advantage in being a hybrid company because of the tools available. We use tools like Slack, Notion. , and Loom and of course Hopin to work and work together asynchronously.

They allow the world to work wherever they want. At Hopin, our big remote control trick is to have a vibe team.

It is a team of ten who sit within our people organization and are responsible for everything that has to do with bringing people together. You are incredibly important. One thing they are responsible for is our hands-free meeting, which a lot of people at other tech companies are scared of. But we run ours like a TV show – the content is amazing, we use StreamYard to create super high production value, we produce features with different devices, we play games with integrations that we have built into Hopin. Production: You work for three or four days at each meeting. Your responsibility doesn’t stop there.

They host all of our in-house events, bring great speakers, and streamline tools like Slack by adding new integrations to keep people more engaged. All of these things improve the environment at Hopin and ultimately our corporate culture. We conduct regular surveys to measure employee satisfaction in the company, which according to our last two surveys was above 90 °, above the average for SaaS companies, which is usually between 50 and 70%.

Jason Spinell: We saw a boom in virtual events last year driven by the impact of the pandemic, but even as companies begin to think about a return to the office and the future of hybrid work, we continue to see strong momentum in events. What’s next for the virtual events industry, especially as the world moves towards the resumption of personal engagements? Johnny Boufarhat: The main focus is on building a bridge between online and face-to-face. We’re digging deeper and deeper to add more features – we’ve improved the registry and just rolled out a website builder for event moderators. We are also building the Hopin platform to be an all-in-one platform for event management.

Most recently, we acquired Boomset, a leading provider of on-site event solutions, to add world-class on-site event technology and services such as badges, self-service kiosks, and follow-up management. We are excited to be Hopin users yet to offer more meaningful information for your events, whether personal, hybrid or virtual. Move around quickly and submit cool features that our users will love. An example: Our mobile application enables people to connect virtually, regardless of whether they are physically or virtually at the event.

Create that double connection – they can see what people are saying, interact with everyone else, see who is at the event, and more. It’s a very useful way to connect whether you’re attending the event physically or virtually. Jason Spinell: What customer requirements do you meet? What new features and functions has Hopin been focusing on lately to take virtual events to the next level?

Johnny Boufarhat: We’re already a multi-product company. We have event marketing support for events. Promotion, our virtual venue for virtual events, SteamYard for production and immersive live broadcasts, Jamm for collaboration and now Boomset for on-site technology and tools. Our customers’ desire for easy event management drives our mission to be an all-in-one platform. it’s pretty fragmented. A customer can purchase their event registration platform from one provider, an on-site registration solution from another, and so on. They typically use five or six vendors, but there is the option of an all-in-one platform and that’s where we come in by offering a seamless solution that includes virtual and on-premise technology and services.

Let Your Ego At The Door Jason Spinell:

When thinking about your journey, what’s the most important piece of advice you would give to a budding entrepreneur or founder? Johnny Boufarhat: Oh so many things, it depends on where you are in your journey. At the beginning of your journey, it is very important to really believe in yourself. Often times, the difference between someone who is raising money or winning their first customer is hard work and trust.

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Business

How is Digital World Changing in 2023? An Analysis

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How is Digital World Changing in 2023 An Analysis

The rapid pace of technological advancements has brought us to the intriguing intersection of another year, 2023. In the digital world, this year is proving to be a pivotal juncture as innovations, trends, and shifts reshape how we interact, work, and perceive the world around us.

This article embarks on a comprehensive journey of how the digital world is changing in 2023 – an analysis that navigates through the various dimensions of technological evolution.

The Evolution of Augmented Reality: Enhancing the Senses

One of the most captivating transformations in the digital landscape is the evolution of augmented reality (AR). The convergence of enhanced hardware capabilities and sophisticated software algorithms has empowered AR to transcend its previous limitations. In 2023, AR is making its mark beyond entertainment and gaming, infiltrating industries like healthcare, education, and even day-to-day tasks.

Imagine medical students participating in virtual surgeries through AR simulations or architects collaborating on 3D building designs with which they can interact in real-time. This marks a monumental shift in how we perceive and manipulate digital information, merging it seamlessly with the physical world.

The Unleashed Power of 5G: A Hyperconnected Reality

The advent of 5G technology has been on the horizon for years, and 2023 is finally the year when it’s stepping into the spotlight. This ultra-fast, low-latency network revolutionises connectivity, giving rise to a hyperconnected reality. With speeds that can dwarf the best home Wi-Fi connections, 5G is enabling uninterrupted video streaming, seamless IoT integration, and real-time collaboration on an unprecedented scale.

Industries that heavily rely on instant data transmission are witnessing a radical transformation. How the digital world is changing in 2023 is intricately tied to 5G’s capabilities, as remote medical consultations, immersive virtual experiences, and autonomous vehicles become tangible realities.

The Renaissance of NFTs: Digital Ownership Redefined

How digital world is changing in 2023? An Analysis

2023 has also ushered in the renaissance of Non-Fungible Tokens (NFTs), sparking a paradigm shift in how we perceive ownership in the digital realm. NFTs, built upon blockchain technology, have enabled creators to tokenize their digital assets – artwork, music, or even tweets. This has opened up new avenues for artists to monetize their work directly, bypassing traditional intermediaries.

The NFT craze has paved the way for a deeper exploration of the digital economy, challenging conventional notions of ownership and copyright. The potential ramifications of this trend stretch far beyond the art world, raising questions about the authenticity and uniqueness of digital goods.

Reshaping E-Commerce: Metaverse Shopping

E-commerce has been steadily evolving, and in 2023, it’s embracing the concept of the metaverse. The metaverse, a collective virtual shared space, is bridging the gap between online shopping and real-world experiences. Imagine trying on virtual clothing before making a purchase or walking through a digital mall with friends, all from the comfort of your home.

This metamorphosis in the e-commerce landscape underlines how the digital world is changing in 2023. Brands now focus on creating immersive, interactive shopping environments that blur the lines between the physical and digital realms. Virtual reality-powered showrooms and augmented reality “try before you buy” features are just a few examples of this transformation.

The AI Revolution: Contextual and Conversational

Artificial Intelligence (AI) is no stranger to the digital world, but in 2023, it’s taking centre stage in more contextual and conversational ways. Natural language processing (NLP) and sentiment analysis propel AI-driven chatbots and virtual assistants to understand and respond more accurately to human emotions and intentions.

This shift is altering the dynamics of customer service, personalizing user experiences, and even revolutionizing content creation. AI-generated content is becoming more coherent and tailored, blurring the line between human and machine-generated work. The digital world’s landscape is evolving as AI becomes integral to our daily interactions.

Conclusion

In conclusion, how the digital world is changing in 2023 is a multi-faceted analysis reflecting technological evolution’s profound impact. From augmented reality breaking barriers between the physical and digital realms to 5G’s hyperconnected reality and the redefinition of ownership through NFTs, each aspect signifies a paradigm shift. The metaverse’s influence on e-commerce and AI’s more conversational presence further emphasize the ongoing transformation.

The journey into 2023 is not just about technological advancements; it’s about how they alter our lifestyles, perceptions, and interactions. As we navigate this ever-changing landscape, one thing remains clear: the digital world of 2023 is an intricate tapestry woven with innovation, connectivity, and endless possibilities.

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How Augmented Reality Impacts Branding?

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How Augmented Reality Impacts Branding?

In recent years, augmented reality (AR) has emerged as a groundbreaking technology that can potentially transform various industries.

One such industry that AR has greatly influenced is branding. Augmented reality offers unique and immersive experiences that enable brands to engage with their audience innovatively. By blending the digital and physical worlds, AR has opened up new avenues for brand storytelling, product visualization, and customer interaction.

In this article, we will explore the impact of augmented reality on branding and how it has revolutionized how businesses connect with their customers.

The Rise of Augmented Reality in Branding

Augmented reality has gained significant traction in recent years, primarily due to advancements in mobile technology and the widespread adoption of smartphones. With millions of people carrying AR-capable devices in their pockets, brands have recognized the potential to leverage this technology to create unique and memorable experiences.

One of the critical advantages of augmented reality in branding is its ability to bridge the gap between the physical and digital worlds. By overlaying virtual elements in the real environment, AR allows brands to showcase their products or services in an interactive and immersive manner. This not only captures the attention of consumers but also enhances their overall brand experience.

Enhancing Brand Storytelling

Brands constantly seek new ways to tell their story and create a lasting impression on consumers. Augmented reality provides a powerful tool to achieve this goal. With AR, brands can bring their narratives to life by creating interactive and engaging experiences.

For instance, a fashion brand could use AR to allow customers to virtually try on clothes before making a purchase. This not only adds an element of fun but also helps customers make more informed buying decisions. By enabling users to visualize themselves wearing the brand’s products, augmented reality strengthens the emotional connection between the consumer and the brand.

Immersive Product Visualization

Augmented reality has revolutionized the way products are visualized in branding. Traditionally, consumers had to rely on static images or videos to understand how a product would look or function in real life. However, with AR, brands can offer customers a truly immersive and interactive product visualization experience.

Imagine seeing how a piece of furniture would look in your living room before buying it or virtually test-driving a car without leaving your home. Augmented reality makes these scenarios possible, enabling brands to give potential customers a realistic and personalized preview of their offerings.

By allowing consumers to engage with products in a virtual space, AR not only enhances their shopping experience but also increases their confidence in making purchase decisions.

Augmented Reality in Retail Spaces

Physical retail spaces have faced increasing challenges due to the rise of e-commerce. To stay competitive, brands must provide unique experiences that cannot be replicated online. Augmented reality offers a solution by transforming physical stores into interactive and engaging environments.

By integrating AR into retail spaces, brands can offer customers a blend of the physical and digital worlds. For example, a cosmetic brand could use AR mirrors that overlay virtual makeup on the customer’s face, allowing them to experiment with different looks without actually applying any products. This not only enhances the shopping experience but also encourages customers to spend more time in-store, leading to increased brand exposure and potential sales.

Interactive Brand Activations and Marketing Campaigns

Augmented reality provides brands a powerful tool to create interactive and memorable brand activations and marketing campaigns. By leveraging AR technology, brands can captivate their audience in unique and unexpected ways.

For instance, a food and beverage brand could launch an AR-powered game where customers can scan product packaging to unlock virtual characters or win prizes. This not only generates excitement and engagement but also increases brand awareness and encourages repeat purchases.

By integrating augmented reality into their marketing strategies, brands can stand out in a crowded marketplace and leave a lasting impression on their target audience.

The Future of Augmented Reality in Branding

As technology advances, augmented reality is expected to play an even more significant role in branding. With the introduction of wearable AR devices such as smart glasses, the possibilities for immersive brand experiences are boundless.

In the future, we can expect to see brands leveraging AR to create personalized and context-aware experiences. Imagine receiving tailored product recommendations based on your location or having virtual shopping assistants guide you through a store. Augmented reality will continue to blur the lines between the physical and digital worlds, transforming the way brands engage with consumers.

Conclusion

Augmented reality has undoubtedly made a profound impact on branding. By harnessing the power of AR, brands can enhance their storytelling, provide immersive product visualization, transform retail spaces, and create interactive marketing campaigns. With the ability to blend the physical and digital worlds, augmented reality offers a unique and engaging way for brands to connect with their audience.

As technology advances, we can expect to see even more innovative and creative applications of AR in branding, shaping the future of consumer experiences. So, embrace the power of augmented reality and unlock the full potential of your brand. How augmented reality impacts branding? It opens up a world of endless possibilities.

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Netflix Layoffs 150 Employees Given Declining Subscribers Base

Netflix layoffs 150 employees from its workforce. The layoffs will mainly affect its office in the United States, which is located in the state of California.

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Netflix Layoffs

World’s largest OTT platform, Netflix layoffs 150 employees from its workforce. The firm has been lately striving hard to retain its falling number of subscribers, but it seems Netflix could not succeed in stopping the number of subscribers from plummeting. So, Netflix on Tuesday announced that it was laying off 2 percent of its staff.

The layoffs will mainly affect its office in the United States, which is located in the state of California. They make up roughly 2 percent of the company’s workforce in North America, somewhere around 7,500 people.

Why Netflix Layoffs Its Staff?

Netflix Layoffs us

Netflix announced in April 2022 that it had lost 200,000 members in the first three months of the year. This was the first time that the streaming service had ever seen a significant decline in consumers. The company also warned that another two million users were projected to flee in the next quarter.

Also read: OnePlus Ace Racing Edition Launching In China

Despite these losses, Netflix remains the undisputed market leader with 220 million subscribers worldwide. However, its rivals are expanding at a much quicker pace than before, and they are starting to intrude into its domain by providing content and services that are alternative to their own.

Netflix has already taken steps to address this issue by reducing its workforce by 2% (around 150 employees) to reduce costs and increase efficiency. However, some analysts believe that further layoffs may be necessary if Netflix wants to remain competitive as its rivals continue their meteoric rise in popularity among customers worldwide.

“Netflix’s recent financial report showed that the business had lost customers due to the conflict in Ukraine and its decision to hike pricing in the United States. It was found that only leaving the Russian market had resulted in a loss of 700,000 subscribers for the business.
However, this was not the only bad news for Netflix. The company also announced an increase in its quarterly losses and said that it would be raising prices for new customers.

Clarification On Netflix Layoffs

A spokesperson for Netflix has released a statement regarding the company’s recent decision to reduce the number of employees by 2%.
The statement reads: “These decisions are primarily motivated by business requirements rather than individual performance, making them highly challenging since none of us want to say goodbye to such terrific colleagues.

The statement did not clarify which divisions of Netflix were impacted by these layoffs; however, according to the reports, content creation and recruitment departments and communications departments were affected by these job cuts.

Netflix is also trimming the number of its original productions. To minimize expenses, it decided to stop the creation of Pearl, an animated series that Meghan Markle developed. This decision was made in early May.

Also read: Oppo Reno 8 Lineup Launching On May 23 In China

Testing Alternative Revenue Models

Since it announced that it would be raising prices, Netflix has been investigating other ways that it may make cash. While the company has said that it still needs more time to figure out how these changes will affect its users, they have already begun testing ad-based pricing models.

The company is also working with advertisers to ensure that their ads are relevant instead of interrupting the user experience.
The OTT company also stated that it would be cracking down on password sharing among family members or friends who may be sharing accounts. Netflix said this practice was responsible for losing 100 million homes in worldwide markets, including India and China.

Also read: iPhone 14 Lineup Launch Just Months Away, See Specs

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