Salesforce, Caravelo, Correct and the profitability of the unicorn

Salesforce, Caravelo, Correct and the profitability of the unicorn

Updated on Sep 15, 2023

1. Salesforce is now (officially) an AI company🤖👨🏻‍💼.

Where? 🎤 During Dreamforce, Salesforce's annual company event, where they present new products, align the vision and make announcements. And it's been going on for 20 editions 🎂, which is an understatement to say the least.

Who? 🤝🏼 A meeting between Salesforce co-CEO Marc Benioff🧔🏼‍♂️ and Sam Altman🙋🏻‍♂️, CEO of OpenAI. In the form of a conversation-interview, together they symbolise the big announcement made by the CRM company during the event.

But what is the big announcement? To the point: Salesforce is presenting itself as an AI company. No qualifiers, no palliatives.

How? 🤝🏼 Through the Einstein 1 platform 🤔 generative artificial intelligence is incorporated into all activities related to customer relationship management (CRM). Whether it's data analysis 📊, conversational assistants 🗣️ or task automation ☑️, you will be able to take customer acquisition, conversion, retention and service to a new level.

Really, George? ☕️ Yes, so much so, that as of May, the company appointed Clara Shih as Salesforce's CEO of AI.

👉🏻 Here you can read more about the Dreamforce event (+40,000 attendees).

👉🏻 Here to read the announcement about the company's new vision.

👉🏻 Here about Clara Shih, the CEO of AI at Salesforce.

👉🏻 Here is the Salesforce website where they say it clearly.

2. Caravelo, travel subscription services, receives €3.5M✈️.

Caravelo is a startup that offers subscription services 💳 to companies in the travel sector💺. In other words, through Caravelo, airlines can offer subscription services to their users, which allows them to increase customer retention 🔁, revenue 💶 and reduce seasonality ❄️ thanks to loyalty+activation (user pays recurrently and gets a certain number of flights included🧳).

From the beginning, Caravelo was oriented to model its subscription product thinking about the operation of large multinationals 🏢 in the travel sector, which added to a portfolio with 20 customers in activo👨🏻‍💼, have been the main reasons for the inversión👍🏼.

👉🏻 Here is the news of the €3.5M investment for expansion and product development💰.

👉🏻 Here to discover Caravelo, its home, a good example of how to offer a B2B service in a specific way without losing ambition🤩**.**.

👉🏻 If you are thinking of starting an online business, be it B2B or B2C, we can help you decide the optimal business model 👌🏼 and design a value proposition with maximum market-fit 🙌🏼. Make an appointment with us here 📅 and one of our experts 📲 will call you to explain how we can help you.

Only 4 of the top 20 European unicorns are profitable (and all 4 have something in common🤑).

In this Sifted analysis they asked the TOP20 European unicorns, one by one, about their profitability.

Of all of them, only 4 have responded confirming that they are. It is a year of recalibration of valuations 📐, so some are on the right track🟢, others in losses🔴 or, in other cases, do not comment on their finances🤐.

The common parameter, in these 4 profitable ones, is that they are all Fintechs or Neobanks 🏦:

🟢 Revolut: the profitable 🟢 Neobank 🪪. Get to know them here.

🟢 Zepz: fast money transfer ⚡️ between 130 countries. Here to get to know them.

🟢 Lendable: lending platform 🫴🏼. Click here to see their website.

🟢 SumUp: payment solutions 👛 for small businesses, such as the dataphone on your mobile📲. Here you can see their products.

👉🏻 Here to read the full analysis 🧑🏻‍🏫 of Sifted profitable-unprofitable of the 20 highest rated unicorns in Europe.

4. Correcto, the app to write well in Spanish, with generative (and corrective) AI 📝.

Correcto is a startup that offers you help to write better in Spanish 📖. With more than 120,000 downloads, they have managed to position themselves in this language in a similar way to what Grammarly did in its time.

The application offers help through different tools, such as the correction of proposed texts ✍🏻 or the generation of texts from scratch with IA🤖.

In addition, it has an emotional analysis tool to give the exact touch of emotion (how many times have we apologised 🙏🏻 to another person for their lack 🥶 or excess 🥵 of emotions in a text because they are from another culture...). Stop condescension 🫷🏼

After its birth, in 2021, they have raised their second round of investment of 7M€ in the USA. With 591 million Spanish speakers worldwide, Correcto will use this investment in product development, with a special focus on AI implementation, and international expansion.

👉🏻 Here to read the news of Correcto's US investment 📰.

👉🏻 Here to download the app (freemium model)👩🏻‍💻.

5. Revel, subscription-based car platform, raises 115M€🚗.

Fresh from the oven comes the news of Revel, the Spanish startup that wants to bring subscription-based cars to a model, at last, viable👌🏼. After several attempts by other companies, where demand exceeded the financial capacity to acquire them😰, Revel claims to have the secret sauce 🍝 to make it possible.

In addition, the monthly fee includes comprehensive insurance, MOT and fine management, for example. The investors who have put up the 115M€? KKR and Santander Consumer Finance (wink😉-wink😉) and others not disclosed🧐.

Their proposal is to enjoy a car without owning it, i.e. a longer rental than a rent-a-car, but shorter than ownership, an unstoppable trend in Millennial generations 👱🏼‍♀️ and Zeta 👩‍🦳 in any investment over €7,000.

👉🏻 Here is the news of the 115M€ round that TechCrunch released today (although they have not been very eloquent for the almighty tech media) 🤷🏻‍♂️.

👉🏻 Here to find out about Revel and see if you are interested in one, from 345€/month, even if it is a FiatTipo🚙 or for 525€ a Mini 3 doors plus molón🇬🇧.

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