To gain unicorn status, private companies must be valued at more than $1 billion without listing on the stock markets. Rapido has thus reached the $1 billion grand company valuation and is expected to make $20 million more from investors overseas. The two-wheeler service company have raised a total of $329 million as reported by Tracxn.

Swiggy, a primary investor in the 2022 funding round did not participate in this year’s funding. The 2022 funding round was led by Swiggy, a food delivery app. The funding round raised over $180 million which raised the company’s valuation to $825 million that year.

Rapido: More on The Company

The startup was founded in 2015 by co-founders, Pavan Guntupalli, Rishtikesh SR and Aravind Sanka. The company is based in Bangalore, Karnataka, India and the service is available in more than a hundred cities all over India.

Furthermore, the company has over 25 million app downloads with more than 10 million customers. The transport service is not only limited to two-wheelers as the service also extends to taxis and auto-rikshaws as well.

The startup was developed as a cheaper alternative to traditionally expensive taxis. It also provides passengers with affordable and transparent pricing, without any hidden charges.

Additionally, Rapido also emphasizes safety as they have safety measures put in place to protect both the passengers and the drivers.

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The post Rapido Optains Unicorn Status as Company Raises $120M in Funding appeared first on Tricky Enough.

Hubspot and TikTok increase CA (customer acquisition) costs for new opportunities

This partnership comes at a crucial moment as small and medium-sized businesses (SMBs) grapple with the increasing costs of acquiring new customers.

As per Hubspot, In the U.S., 53% of SMBs saw a hike in customer acquisition costs in 2021 and 2022. This number is almost 20% and higher than the cost in previous years.

TikTok is a platform where over half of U.S. users engage with different brands, and it aims to provide a distinctive solution to address this challenge.

Automation of the B2B lead generation process

The recently introduced integration of HubSpot CRM presents an automated lead capture feature on TikTok, effectively converting an actively engaged audience into valuable potential customers.

Karen Ng, Senior Vice President of Products at HubSpot, underlined the game-changing potential of blending TikTok’s discoverability with HubSpot’s CRM.

She said, “Through this integration, we’re combining TikTok’s discoverability with the capabilities of HubSpot’s customer platform, enabling more businesses to transform attentive audiences into valuable, high-worth customers.”

TikTok is offering a $200 Ad Credit to the initial 500 Users.

As a special offer, 500 advertisers who integrate HubSpot CRM with TikTok will be granted $200 in TikTok ad credits. This presents a cost-effective opportunity to access a new and vibrant audience.

Impact of Hubspot and TikTok Partnership

According to the findings, 57% of TikTok users expressed a likelihood to purchase a business after seeing an ad. This is how it’s clear about the platform’s ability to drive consumer engagement.

Furthermore, 69% of users found these lead-generation ads highly attention-grabbing, a crucial measure in the competitive digital advertising landscape.

What’s particularly intriguing is that half of the users surveyed mentioned that these ads don’t feel like conventional advertisements. This suggests that TikTok has successfully integrated advertising seamlessly to enhance user experience.

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