Entrepreneurs
Salone Sehgal: Empowering Women Gamers and Navigating the Gaming Investment Landscape
When Salone Sehgal entered the world of gaming investments, she faced skepticism, biases, and a tide of rejections. However, she stood her ground with unwavering determination, proving that the gaming industry was not just a “big boys’ world.” With a passion for supporting women gamers and a track record that spanned M&A banking and private equity, Sehgal embarked on her entrepreneurial journey as the founder of TrulySocial, a mobile gaming company. Her mission was to create immersive, narrative-based social games for a global female audience. It wasn’t long before she realized that the world of venture capital could be as challenging as building games.
Challenging the Status Quo:
During her early meetings with venture capitalists (VCs), Sehgal faced baffling questions and stereotypes. VCs questioned her presence in the gaming sector, and some suggested that she didn’t belong there. However, Sehgal was quick to challenge these notions. She reminded them that around 60 percent of casual gamers worldwide are women, yet less than 20 percent of games and companies cater to them. Sehgal saw an opportunity in building games for women, despite being in the minority as a female entrepreneur in the field. Her tenacity and vision were evident, but not everyone shared her perspective.
Despite her impressive background, including roles at Barclays, Morgan Stanley, and KPMG, where she executed over $10 billion worth of M&A transactions, Sehgal faced resistance when seeking VC funding for TrulySocial. One VC’s attempt to validate her idea by having his wife try the product left Sehgal indignant. She challenged the double standard, stating that gender should not determine the credibility of a business idea. Overcoming a series of rejections, Sehgal eventually secured backing from prominent investors like Nazara Games and London Venture Partners. However, despite her formidable reputation and her experience in building TrulySocial over three and a half years, she was forced to shut it down after a buyout deal fell through.
Undeterred by challenges, Sehgal transitioned from being a founder to becoming an early-stage investor. She joined London Venture Partners (LVP), an early-stage fund focused on interactive gaming and entertainment segments. Even as an investor, she continued to face comments questioning her position and competence. Critics often labeled her as a diversity hire. However, Sehgal had developed thick skin over the years and knew how to block out external noise. After almost two years, she returned to India in 2019 with a vision of starting a VC fund dedicated exclusively to the gaming industry.
Sehgal’s return to India coincided with a burgeoning gaming landscape. The rapid growth of smartphones and affordable data plans had set the stage for a gaming boom in the country. In 2018, there were approximately 250 million gamers in India, and by FY19, the gaming market represented a billion-dollar opportunity, according to Redseer. In FY20, this opportunity grew to $1.8 billion, and the gaming industry continued to thrive even during the pandemic. India’s appetite for gaming was on full display with a remarkable increase in game downloads. Users in India downloaded games 15 billion times in 2021, with an impressive seven billion new game downloads during the first six months of 2022. Gaming accounted for a third of all app downloads in India, exceeding any other category. Indians spent an average of 40 minutes daily playing casual games, with a 30 percent increase in gaming time post-Covid compared to pre-Covid. The number of gamers in India reached 450 million in 2021, with an expected increase to 600 million in 2022.
Lumikai: A Fresh Approach to Gaming Investment
Despite the promising gaming landscape, Sehgal recognized the challenges of competing with well-funded players in real money gaming (RMG). Major fantasy sports platforms like Dream11, MPL, and Games 24X7 dominated the Indian gaming market and had substantial financial backing. As a latecomer with an average ticket size between $200,000 and $2 million, Lumikai faced stiff competition. Sehgal and her co-founder, Justin Keeling, decided to take a unique approach. Rather than attempting to enter the overcrowded fantasy gaming market, Lumikai sought to diversify by building a portfolio of gaming assets. The fund focused on content, platforms, tools, tech, and infrastructure, acknowledging that the breadth of the gaming sector extended beyond fantasy gaming.
Fast forward to October 2022, and Lumikai has successfully nurtured over half a dozen distinctive investments in the gaming industry. One of its standout investments is Loco, a mobile-first live game streaming platform. Loco boasts over 52 million users and a substantial increase in daily active users, monthly active users, and monthly active streamers. It secured $51 million in funding from Lumikai and other prominent investors. Cloudfeather Games, another Lumikai portfolio company, offers plug-and-play real money gaming solutions for developers and raised $1.25 million in a pre-seed round. Studio Sirah, a game development studio focusing on cross-platform, midcore games with Indian themes, introduced its first game, Kurukshetra: Ascension, featuring characters from epics like the Ramayana and Mahabharata.
One of the most intriguing bets is Supernova, a startup that creates live quizzes and interactive gamified formats focused on CBSE math topics for children aged four to 12. Supernova secured $1.1 million in pre-seed funding led by Lumikai and backed by investors like Kae Capital and Goodwater Capital. The startup aims to revolutionize children’s education through experiential, game-based learning.
The gaming industry presents numerous opportunities for growth and monetization. Approximately 20 percent of India’s 400 million active gamers opt to pay for games, with RMG users spending significantly more. Despite the predominance of real money gaming, in-app purchases contributed significantly to gaming industry revenues in FY21. While the gaming sector in India is still in its infancy, early-stage investors like Lumikai recognize the potential and are prepared for a patient and long-term investment approach. Lumikai understands that exit options for VCs predominantly occur through strategic acquisitions, rather than IPOs, and is prepared for a more extended investment horizon. Additionally, the challenge of maintaining user engagement is ever-present, but Lumikai sees India poised to become a $7 billion gaming market by 2026.
As the gaming industry continues to evolve and thrive, Salone Sehgal and Lumikai are at the forefront, investing in innovative and diverse gaming opportunities and empowering India’s next billion gamers.
Entrepreneurs
The Power Couple of Instagram: Sara’s Journey to 5.5M Followers
Sara’s growing online fame is marked by her creativity, reliability, and deep engagement with her audience. From comedic sketches featuring her husband Ghaith to aspirational lifestyle imagery, Sara has effectively demonstrated her capability as an artist in keeping her followers interested in her content. With adept use of humour, honesty, and aesthetic sensibility, Sara stands out as one of the dearest influencers in the UAE.
Versatility is one characteristic that best describes Sara. She posts more on Beauty and Cosmetics, Apparel, and Accessories, but often crosses over into areas like Fitness, Healthcare, and Healthy Living. She offers a great deal of value to her audience through beautifying tips, exercises, and product recommendations among other content forms. This variety keeps audiences interested and puts her in the lead position as a go-to partner for brands who wish to create a more memorable impression.
Characterized as luxurious and a dynamic way of life, no destination aligns more with Sara’s fulfilment than Dubai. Through the travels she takes through the Maldives, Seychelles, and Turkey, Sara embodies luxury exploration spirits that epitomize Dubai as the ultimate and highly sought-after destination around the world for glamorous and adventurous characters. The tales are not just inspiring ones for her listeners but also speak to the part Dubai played in unlocking access to the extraordinary destinations around the world.
Collaborations underpin all of Sara’s accomplishments. For example, in a recently collaborated project with Garnier, one of her social media reels had nearly 4 million views with 130,000 interactions. Similarly, in another collaboration with Temu, such an engagement was conducted in an informative and entertaining manner, thus it gained an impressive 7.7 million views and about 500,000 engagements. These above collaborations represented the potential of marrying creativity with brand messages and finally producing something authentic and relatable. The synergy of relating to her husband, Ghaith, has that effect for Sara. A build-up in her persona comes about through the collaboration bestowed upon her with some quality that makes not only aesthetically pleasing but also emotionally meaningful. While comedy up to poignant moments, the dynamic between Sara and her husband, Ghaith, is something that essentially encompasses Sara’s brand. Their connection to her talents allows her to build a followership that enjoys an impressive 80% credibility score—a notable achievement, undoubtedly, within the realms of influencers.
Amazingly, the engagement metrics attached to Sara’s account average 9.6 million views and 1.1 million engagements per post. For a long time, such performance left in its wake most of her colleagues from the blogging community. Furthermore, she has averaged engagement rates between 4 and 5 percent, which is all proof that she indeed is extremely trusted and interesting for her audience.
Effects of Sara touch the lives of individuals. Her GRWM videos are revealing and inspiring, along with beauty tips and Q&A sessions that make them feel valued and included. This is genuine, and she welcomes each other with her excitement about cementing herself as one of the authentic social media icons in the UAE.
Sara represents a vibrant and dynamic culture about Dubai, full of energy, diversity, and aspirations, but she also keeps her feet on the ground, inspiring her followers through this story to pursue their passions and be true to themselves, but concurrently enjoy all of life’s pleasures.
When the digital world may dismiss trends, Sara’s story continues—logical, funny, hopeful, and full of energy. She has been an inspiration among young aspiring influencers, and a very revered personality among her subscribers, thanks to her capacity to capitalize on entertainment that also harbours heavy content. Through her consistent creation of content that deeply connects with her audience, Sara represents how true enthusiasm and authenticity contribute to a long-term record of success in an area that, from day to day, seems to be constantly changing with each shift in social media trends.
Entrepreneurs
How Varsity Tutors Connects the World through Personalized Learning
Varsity Tutors seems to be one trendsetter in the world of education, doing an edge in leveraging the technological front towards tailoring and making learning accessible. Conceptualized on the idea that every child is as special as his needs, Varsity Tutors connects learners of all age groups with experts in multiple subjects for fulfilling academic tutoring needs, professional skills training, and much more towards assuring that every individual’s unique educational needs are met.
What makes Varsity Tutors distinct is its dual platform approach. While for them, a learner has the option between in-person sessions or online and mobile platforms-most of which take place remotely-award-winning digital tools allow learners to get high-quality instructions from anywhere in the world. Where the finishing school kind of excellence in education is one aspect of the culture of Dubai, the parents and the students here have come to trust Varsity Tutors. Its flexibility coupled with highly advanced methods would dovetail easily into the forward-thinking approach towards education in Dubai.
The academic tutoring isn’t where it ends. Varsity Tutors also deals with professionals who want to up skill or achieve certifications for boosting their careers. Live, interactive learning makes some rather complicated subjects quite digestible, thus making this an engaging and very immersive experience. Online learning is ultimately isolating because with Varsity Tutors, one gets human contact and real-time feedback so that learning is effective but also fun.
Varsity Tutors boasts an impressive record: three million hours of live instruction delivered to date. Its strong showing does, in fact reflect the capacity to be flexible and grow within a highly dynamic educational landscape. The platform offers many different subjects through its extensive network of experts, giving any learner the chance to find an appropriate match for their goals. The reach of the program worldwide resonates with diverse communities everywhere-from students and professionals in multicultural Dubai, all of whom are seeking top-notch learning solutions to thrive in a competitive environment.
Innovation is one of the leading factors for Varsity Tutors’ success. For instance, learning in its mobile app is at the fingertips of the user: a user can schedule sessions, view resources, and interact with his instructor quite easily. This convenience has been a game-changer for many busy professionals and tight-scheduled students. Dubai’s bustling educational and professional scene has found synergy with Varsity Tutors’ vision. The platform aligns with the city’s goal of fostering a knowledge-based economy, equipping its residents with the tools needed to succeed in a globalized world. With its emphasis on personalized learning, Varsity Tutors supports Dubai’s mission to nurture talent and encourage lifelong learning.
The impact of Varsity Tutors goes beyond individual learners. Students will be empowered to reach great academic and professional heights, contributing to the building of a brighter future in communities around the globe. Quality, accessibility, and innovation ensure the firm does not only serve but lead an evolving education sector globally.
Varsity Tutors is a legacy of transformation and change in the face of education through technology potential. The platform combined personalized instruction with avant-garde digital tools that changed the face of learning. From young students to professionals undergoing training, there have been many from New York to Dubai and everywhere in between who have found a haven in Varsity Tutors.
Entrepreneurs
Nomadic Capital’s Visionary Founder: Ziad Ghosn’s Journey of Success
Ziad Ghosn, however, goes beyond being an entrepreneur; instead, he is a visionary who moulds industries in the GCC. Having been around over 15 years and immersed in the intricacies of the UAE market, Ghosn has converted Nomadic Capital into a thriving hub of innovation, incubating game-changing ventures in fields such as technology, food and beverage, and healthcare. Ghosn, along with his co-founder wife, Stephanie Khouri, is on the forefront of debunking traditional business models to herald smarter and more efficient solutions. He is the epitome of innovation and resilience.
Education and corporate experiences formed the base for Ziad Ghosn’s entry into the entrepreneurial world. He graduated with honours from the American University of Dubai, and a Master’s Degree in International Business from London, further helping him polish his skills in the bigger organizations of Wunderman, Y&R, Emirates Lebanon Bank, and Pragma Group. This experience gave him the much-needed knowledge and market insights to create his own ventures.
Ghosn, alongside his wife Stephanie Khouri, has partnered with Nomadic Capital Limited since 2017. Founded on a vision to introduce innovation in the GCC region, this start-up aims to tap into untapped markets by offering services either incu-bating potential ideas or undertaking their own ground-breaking initiatives. Collaboration is what made Nomadic Capital a leader in fostering innovation and tackling modern business challenges. Pushdot was the mobile application which Nomadic Capital produced and which earned the company a place among the top 50 start-ups to watch in the UAE. The app has been acclaimed within the region and has further received international accolades such as the Appy Awards in New York. This recognition has, therefore, underlined the app’s capability to update business needs through innovative digital tools.
Ghosn’s initiatives cover much more than mobile technology. Operating Nomadic Capital, he has done much to create opportunities in the food and drink sector, as, with his team, he was granted the International Business Excellence Award for Innovation in F&B. Among the concepts of the firm, of great significance is the Automat, a fast-food restaurant model whereby hot meals and beverages are dispensed via vending machines. Such a concept not only offers convenience but also addresses efficiency and operational issues in the industry.
Recognizing the potential of technological integration with healthcare, Ghosn has turned his attention to this booming industry recently. The focus of his last efforts has been on providing better patient care and streamlining business operations through advanced digital features. Through these gaps in traditional models for healthcare, Ghosn manages to deliver smarter solutions that are more accessible and promise to redefine the industry in the GCC and beyond.
The entrepreneurial pursuits of Ziad Ghosn reflect the kind of relentless drive for innovation and adaptation to modern business needs. His ability to turn from retail automation towards health care reveals the visionary of an entrepreneur who stands out in today’s competitive landscape. Through leveraging cutting-edge technology and deep market insights, Ghosn continues making opportunities that challenge conventional norms and redefine possibilities.
Through his firm Nomadic Capital, Ghosn gives more than just ideas to life; he creates a culture of innovation that resonates across industries. His entrepreneurial success is a blueprint for would-be business leaders, outlining how strategic vision and adaptability lead to transformative outcomes.
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