May 19, 2020

Australian consumer confidence up beginning 2018

ANZ-Roy Morgan
consumer confidence
Economic outlook
Thierry Boudan
2 min
Australian consumer confidence up beginning 2018

According to a new report from ANZ-Roy Morgan, Australian consumer confidence has risen 4.7% in the new year from mid-December, the highest level since November 2013.

The study notes that whilst consumer confidence generally rises in January, having done so at an average of 3.6% over the past nine years, the 4.7% rise is notably larger than usual.

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“ANZ-Roy Morgan weekly Consumer Confidence has jumped to 122.0 – up 5.5pts since mid-December and at its highest for over four years since November 16/17, 2013 (122.9),” said Michele Levine, CEO, Roy Morgan. “The jump is in line with normal trends which show consumer confidence consistently increases in January as Australians enjoy their summer holidays.”

The report cites that general optimism was expressed towards both the current and future financial conditions within the country, in addition to Australia’s economic prospects.

However, the boosted confidence could be short lived, largely due to a number of existing financial burdens within the country, in addition to the general drop experienced in February as more citizens return to work.

“It is encouraging that consumers seemed willing to overlook their high debt burden, moderating house price gains and the impact of higher petrol prices,” said David Plank, ANZ’s Head of Australian Economics.

“The jump is in line with normal trends which show consumer confidence consistently increases in January as Australians enjoy their summer holidays,” said Levine. “However, ‘unfortunately’ for the Turnbull Government, consumer confidence tends to drift lower as more Australians return to work in the coming weeks.”

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Jun 8, 2021

Timeline: India takes unicorn leap with six in five days

Kate Birch
2 min
We chart an historic week in India’s startup tech industry, where from April 5-9 the country achieved six unicorns

We chart an historic week in India’s tech industry, where in just five days, between 5-9 April 2021, the country achieved six new unicorns, bringing India’s total to 10 in 2021 to date, an immense unicorn leap from just seven in 2020 and six in 2019.

April 5: Meesho

India’s first social commerce unicorn, Meesho raised US$300m from SoftBank, Facebook and Shunwei Capital, giving the Bangalore-based startup a US$2.1bn valuation, a threefold jump from its previous funding round in 2019. Founded in 2015 by two IIT-Delhi graduates, Meesho connects producers and resellers, helping small businesses sell through social media. It has 45m customers and has enabled 13m entrepreneurs to start their online businesses with no investment.

April 6: CRED

Founded just over two years ago, Bangalore-based credit card repayment app CRED raised US$215m from Falcon Edge Capital and Coatue, nearly trebling its valuation to US$2.2bn from its January US$80m round. Allowing customers to pay off their credit card debt while earning CRED coins which they cash in for rewards, CRED has grown rapidly during COVID-19, doubling its customer base to nearly 6 million in a year.

April 7: API Holdings / Groww

The first epharmacy startup to gain unicorn status, PharmEasy (API Holdings), which has digitised 60,000 brick and mortar pharmacies and 400 doctors across India, raised US$350m in a round led by Prosus Ventures. Founded by four former Flipkart employees as a way of making investing simple, investment platform Groww became India’s second-youngest fintech unicorn, raising US$83m in Series D funding led by Tiger Global, quadrupling its previous round in September.

April 8: ShareChat

New Delhi-grown social media startup ShareChat, founded in 2016 by Mohalla Tech raised US$502m from Lightspeed Ventures, Tiger Global, Twitter and Snap taking its raised total over six rounds to US$766m and pushing its valuation to US$2.1bn. The funding will be used to grow its user base and short video platform Moj, which launched in 2020 following TikTok’s ban in India. The regional language startup claims 280m users.

April 9: Gupshup

AI-led conversational message startup joined the unicorn club after raising US$100m from Tiger Global giving it a ten-fold valuation of US$1.4bn. The smart messaging platform, which has seen accelerated growth during the pandemic, was founded in Bangalore in 2005 by serial entrepreneur Beerud Sheth, whose online freelancing platform Elance is now listed. Gupshup’s API enables 100,000+ businesses to build messaging and conversation experiences across 30+ communication channels. 


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