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<br /> <keyword id="830092" type="COMPANY" weightage="100" keywordseo="Zomato">Zomato</keyword>, the online platform for restaurant discovery and food ordering, has finally achieved its operational break even in six countries. The company has achieved the success because of growth in core advertisement business and tighter financial controls.<br />
<br />
The countries in which break-even has been achieved are India, the UAE, Lebanon, Qatar, the Philippines and Indonesia. In totality, the Gurgaon-based company has operations in 23 countries.<br />
<br /> "The biggest reason behind this is increase in revenues, which have doubled in the last four months," Zomato CEO <keyword id="476451" type="UNKNOWN" weightage="100" keywordseo="Deepinder-Goyal">Deepinder Goyal</keyword> told ET. Another reason could be the significant decrease done by company in the burn rate, which was brought by tighter financial controls.<br />
<br />
Zomato, which also entered into the food delivery business in 2015, is doing 13,000 orders on an average a week of Rs 575 each. They are in direct competition with players like Rocket Internet's Foodpanda and local startups like Swiggy and TinyOwl.<br />
<br />
<a href="http://economictimes.indiatimes.com/photo/49815066.cms"><em>Image source</em></a><br />

Zomato achieves operational breakeven in six countries including India

<div style="float: right; margin: 15px 0 20px 20px;"><table border="0" cellspacing="0" cellpadding="0"><tbody><tr><td colspan="2"><a href="https://static-ssl.businessinsider.com/category/chart-of-the-day"> </a></td></tr><tr><td><a href="http://www.businessinsider.com/category/chart-of-the-day"></a></td><td><a href="http://www.businessinsider.com/chart-the-factors-that-grow-twitter-followers-2013-8"></a></td></tr></tbody></table></div><p><keyword id="18635" type="CITY" weightage="60" keywordseo="Amazon">Amazon</keyword> is an excellent company for a number of reasons. </p>
<p>It offers a great product with great service. It's willing to experiment. And, if you have a subversive streak, you have to admire how it confounds people. </p>
<p>The most confounding thing about Amazon is that it doesn't seem to want to amass much, if any profit. </p>
<p>Instead of collecting big profits, CEO Jeff Bezos prefers to take whatever he makes and plow it right back into the company. </p>
<p>In a way, it operates like a big startup. Just keep investing for growth.</p>
<p>As a result, Amazon operates at break-even, or at a loss occasionally. Investors are okay with this. That's why the stock goes up after earnings that show losses. </p>
<p><span style="line-height: 1.5em;">The idea is that eventually Amazon will make money.</span></p>
<p>Amazon says that it will "<a href="http://www.businessweek.com/articles/2013-07-25/jeff-bezos-doesnt-care-what-you-think-about-amazons-quarterly-earnings">check in periodically</a>" to make sure it can still make money. </p>
<p><span>This model seems to drive people crazy. They just can't wrap their mind around the idea that Amazon can operate at break-even or a loss and get rewarded for it. </span></p>
<p>Here, via Benedict Evans, is <a href="http://ben-evans.com/benedictevans/2013/8/8/amazons-profits">a look at the long term trend of profits and revenue at Amazon</a>:</p>
<p><span><div class="image-container" style="width:800px"><div class="image"><p class="source">Business Insider</p></div></div><br /></span></p><p class="tagline">Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.</p>

CHART OF THE DAY: A Long View Of Amazon's Profits

<ul class="summary-list"><li><keyword id="6372405" type="ORGANIZATION" weightage="60" keywordseo="gm">GM</keyword> lost far less money than Wall Street expected for the coronavirus-devastated second quarter. </li><li>The carmaker said that vehicle sales in the quarter declined 34% compared with a year ago.</li><li>North American operations achieved a "near breakeven," the company said in a statement.</li></ul><p><br />GM reported second-quarter <keyword id="6357061" type="SPONSORED" weightage="60" keywordseo="earnings">earnings</keyword> on Wednesday before the <keyword id="31671" type="CITY" weightage="60" keywordseo="markets">markets</keyword> opened, and the automaker beat Wall Street analysts' expectations by a generous margin.</p><p>The automaker lost $0.56 per share on a GAAP basis, and $0.50 per share on a non-GAAP basis. The bottom line was down 130%, compared to the same 2019 quarter.</p><p>Revenue slid 53%, to $16.8 billion, as the coronavirus pandemic forced GM and the entire global <keyword id="34478" type="PERSON" weightage="60" keywordseo="auto-industry">auto industry</keyword> to shut down manufacturing operations in Q2.</p><p>Analysts had expected a loss of about $2 per share, on higher revenue.</p><p>On the news, GM's stock price moved higher in pre-market trading, up almost 4% to $27.</p><p>The company's North American business posted a less severe loss than international operations.</p><p>"Clearly, the second quarter was a challenge, but we achieved near breakeven ...  in North America, despite losing 8 of 13 weeks of production," CFO Dhivya Suryadevara said in a statement. "These results illustrate the resiliency and earnings power of the business as we make the critical investments necessary for our future."</p><p>GM ended the quarter with just over $30 billion in total liquidity, the company said, after expanding its credit facilities in the quarter.</p><p>On a call with the media after results were announced, Suryadevara declined to provide guidance but indicated that GM expects $7-9 billion in cash generation in the second half of the year.</p><p><div type="image" title="GM Chart" height="1044" width="1568" msid="77242164" hostid="261"></div></p>

GM beats Wall Street expectations for Q2 earnings even as coronavirus hits revenue hard

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Citi is bullish on US shale.</p>
<p>A <a href="https://ir.citi.com/%2BC2MVMMCZ%2FlCBw4W6BtzMk2go0%2F%2BKe1ZBRToroulRWTppmA%2F8xkQ%2FihDUmr5sjXe">massive new (ungated) report</a>, "The Rapid Rise of the United States as a Global Energy Superpower"<span> </span>from the bank's macro analysts, suggests that the price of oil would have to dip to somewhere in the vicinity of $50 a barrel to completely flatten US production growth. </p>
<p>From<span style="line-height: 1.5em;"> the outset of the report, this much is clear: </span><span style="line-height: 1.5em;">Citi doesn't believe that Saudi Arabia is going to be successful in <a href="http://www.businessinsider.com/opec-youth-unemployment-rates-2014-11">bullying the US market by pushing prices down</a>.</span></p>
<p>From the report: "...indications have emerged that suggest Saudi Arabia could look to allow prices to fall enough until US shale production is reined in. However, should such a circumstance arise, it looks like US shale/tight oil production growth could remain robust even in an environment of sustained lower oil prices, lower capex, and lower rig counts."</p>
<p><span style="line-height: 1.5em;">The breakeven price for a well depends on a variety of factors, which the report goes through methodically (skip to page 31 for this). In places where the drilling infrastructure is mature and there's not a lot of upfront capital costs in order to bring on a new well, breakeven prices are going to be a lot lower than in newer developing areas.</span></p>
<p><span style="line-height: 1.5em;">Here's a key passage: </span></p>
<p style="padding-left: 30px;"><strong>At what price might US shale production growth be meaningfully reined in?</strong> <br>Full-cycle capex for shale production includes land, infrastructure, and well costs (of which some 40-50% is from pumps, ~10-15% for drilling rigs) and operating costs. In mature plays where the land grab is over and infrastructure is available, the remaining capex required ("half-cycle costs") to bring on an additional well is far lower than areas requiring "full-cycle" costs. Full-cycle costs might be as high as $70-80/bbl WTI, but half-cycle costs could be as low as the high $30s-range. Thus, those fringe and emerging areas requiring full-cycle capex could now face a reassessment, while established areas should continue drilling and growing output.</br></p>
<p>And here's a group of charts showing the breakeven prices for well is various areas of the US shale production region:</p>
<p><div class="KonaFilter image-container click-to-enlarge"><div class="image"><a title_source="Citi" title_caption="Citi's estimation of shale breakeven prices for various well scenarios" class="zoomin" href="https://static-ssl.businessinsider.com/image/545bcb6d6bb3f7217a77a966-960/screen shot 2014-11-06 at 2.25.33 pm.png"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span><a href="https://ir.citi.com/%2BC2MVMMCZ%2FlCBw4W6BtzMk2go0%2F%2BKe1ZBRToroulRWTppmA%2F8xkQ%2FihDUmr5sjXe">Citi</a></span></p><p class="caption">Citi's estimation of shale breakeven prices for various well scenarios</p></div><p></p></div></p>
<p>What if WTI prices go below $70/barrel (it was below $78 at last check)? Citi predicts a slowdown (about a 25% reduction in growth in 2015 and 50% in 2016), but not a halt, to US shale production.</p>
<p>What would it take to completely flatten production growth?</p>
<p>That "might require prices in the $50 range in the short-term."</p>
<p>Read the <a href="https://ir.citi.com/%2BC2MVMMCZ%2FlCBw4W6BtzMk2go0%2F%2BKe1ZBRToroulRWTppmA%2F8xkQ%2FihDUmr5sjXe">full Citi report here</a>.</p>

Saudi Arabia Won't Win This Oil Price Standoff

<div style="float: right; margin: 15px 0 20px 20px;"><table border="0" cellspacing="0" cellpadding="0"><tbody><tr><td colspan="2"><a href="http://static6.businessinsider.com/category/chart-of-the-day"> </a></td></tr><tr><td><a href="http://www.businessinsider.com/chart-of-the-day-twitter-growth-tips-2013-3"></a></td><td><a href="http://www.businessinsider.com/chart-of-the-day-criteria-for-buying-a-smartphone-2013-2"></a></td></tr></tbody></table></div><p><keyword id="6354427" type="CITY" weightage="60" keywordseo="Apple">Apple</keyword>'s margins have been compressing, and it has investors worried.</p>
<p>Can <keyword id="95161" type="COMPANY" weightage="60" keywordseo="itunes">iTunes</keyword> sales, specifically software sales made through iTunes, save the day?</p>
<p><a href="http://www.asymco.com/2013/02/26/the-itunes-value-structure/">Asymco's Horace Dediu, who made the chart below, speculates:</a></p>
<p style="padding-left: 30px;"><span>There is potential for operating margin in Apple Software and App Agency Fees and perhaps some of the Media Transaction Fees (exploded wedges above). Historically, Apple suggested that their App and Media stores ran at break-even but that may no longer be the case. Operating margins from Software may be significant.</span></p>
<p><div class="image-container click-to-enlarge" style="width:618px"><div class="image"><a title_source="Asymco" title_caption="" class="zoomin" href="http://static1.businessinsider.com/image/512fbccfecad04bd2800000c-960/sai-cotd-022813.jpg"><span class="click-to-enlarge-icon" title="Click to enlarge"></span></a></div><p class="source"><a href="http://www.asymco.com/2013/02/26/the-itunes-value-structure/">Asymco</a></p></div></p>

CHART OF THE DAY: Can iTunes Save Apple's Margins?

<p>This is a fun, quarterly chart based on company reports and data from Canaccord Genuity, a Canadian investment bank. <span style="line-height: 1.5em;">It shows the relative share of each major smartphone maker based on their operating profits.</span></p>
<p>Since just about every company other than Apple and Samsung is losing money, Canaccord analyst Michael Walkley says, "<span style="line-height: 1.5em;">Apple and Samsung once again dominated handset industry operating profits and combined to capture a remarkable 108% of Q2/14 handset industry profits as other leading OEMs such as BlackBerry, Nokia/Microsoft, and Sony posted operating losses or near breakeven results."</span></p>
<p><span style="line-height: 1.5em;"><div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image"><a title_source="Business Insider" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/53e0ed03eab8ea9006a9512c-960/smartphone-profit-share.jpg"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span>Business Insider</span></p></div><p></p></div></div><br /></span></p>

Apple And Samsung Have '108% Of Industry Operating Profits'

<ul class="summary-list"><li>Canada's Bitfarms is planning a new <keyword id="6354947" type="General" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword> <keyword id="6355267" type="General" weightage="60" keywordseo="mining" source="Orion">mining</keyword> site in Argentina that will support 55,000 mining machines.</li><li>At 210 Megawatts, this will be Bitfarms' biggest site, which is expected to generate some $650 million in revenue.</li><li><keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto" source="Orion">Crypto</keyword> miners are upping their capacity as bitcoin continues to soar in value despite recent headwinds.</li></ul>Canadian bitcoin mining company Bitfarms said late on Monday it is planning a new bitcoin mining site in Argentina that will be its largest yet. <br /><br />The eight-year deal supplies Bitfarms with 210 Megawatt of electricity, at a price of $0.02 per kilowatt per hour in the first four years. In a <a href="https://bitfarms.com/app/uploads/2021/04/2021-04-19-Bitfarms-Final-Press-Release-Argentina-Expansion.pdf">statement</a>, Bitfarms said this will be enough electricity to create revenues of around $650 million or 11,774 <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial">bitcoin</a>. This is however dependent on what happens with the bitcoin price over that time. <br /><br />Bitfarms currently operates five industrial mining sites in the Canadian province of Quebec, with a total wattage of 69 megawatts. At 210 megawatts and 55,000 state-of-the-art mining machines, the Argentine site will have almost three times as much capacity as all current Bitfarms sites put together.<br /><br />Bitfarms mining operations run on hydropower to make <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial">bitcoin mining</a> more environmentally friendly. <br /><br />The company has made a significant expansion effort over the past year by purchasing new mining machines and is working towards being listed on the NASDAQ. In March, it announced that it had ordered 48,000 MicroBT miners, a "substantial portion" of which will be used in the new facility in Argentina. <br /><br />A key factor in the expansion into Argentina is cost reduction. <br /><br />"We previously reported the break-even cost to mine a bitcoin during the fourth quarter of 2020 was approximately $7,500 in Quebec. If the new Argentina facility was operating during the same period, we estimate the breakeven cost to mine the same bitcoin would have been $4,125, a 45% savings as compared to Quebec," Bitfarms said in a statement.<br /><br />This will also enable Bitfarms to use older mining equipment that requires more electricity in a more cost effective way.<br /><br />Crypto miners are increasing their capacity as bitcoin continues to increase in value. Just last week, the crypto currency reached a record of over $64,000 just as the crypto exchange Coinbase went public on the US stock market. Since then, the price has come under some pressure. On Tuesday, it was trading around $55,282.19.<br /><br />

Canadian crypto miner Bitfarms is planning a huge new bitcoin mining site in Argentina

<p><keyword id="45681" type="UNKNOWN" weightage="60" keywordseo="Solar">Solar</keyword> industry stocks are tanking today. Yesterday, First Solar issued an ugly outlook.</p>
<p>First Solar was down as much as 16 percent today.</p>
<p>The Arizona-based company said <span style="font-size: 15px; line-height: 1.5em;">it now expects sales of $650 million to $750 million for the first quarter, which is below the $822 million consensus forecast, <a href="http://www.marketwatch.com/story/first-solar-shares-hammered-on-outlook-2013-02-26">according to Marketwatch</a>. Management also put their cash flow from operations forecast range at breakeven to up to $100 million, compared with analysts' expectations of  $214 million.  </span></p>
<p><span style="font-size: 15px; line-height: 1.5em;">Meanwhile, Changzhou-based Trina Solar posted a </span><span style="font-size: 15px; line-height: 1.5em;">fourth-quarter loss of $1.23, nearly $0.50 worse than analysts' expectations, Marketwatch said.</span><span style="font-size: 15px; line-height: 1.5em;"> The company also had gross margins of just  4.4% in 2012 compared with 16.2% in 2011, which it attributed to<span> oversupply and aggressive pricing.</span></span></p>

Solar Energy Stocks Are Getting Burned

<ul><li><keyword id="4306161" type="PERSON" weightage="20" keywordseo="Cars24">Cars24</keyword> has announced its first franchisee in Surat. </li><li>The startup plans to breakeven by December 2019. </li><li>It plans to invest ₹1-1.5 million into a franchise depending on the location. </li></ul>Indian used cars startup Cars24 is adopting the franchise model to expand across the country. This will help them set-up 300 outlets in tier 2, 3 and 4 cities over the next two years. <br /><br />The startup plans to breakeven by December 2019, and the franchising model could help ramp up operations. <br /><br />Strengthening its presence in tier 2 cities, it also opened a franchisee branch in Surat – the second largest automobile market in India.<br /><br />It plans to invest ₹1-1.5 million into a franchise, depending on the location. It is shortlisting partners after putting them through a lens, and clearing only one from every 200 applications.<br /><br />“Our key objective is to address the challenges that are faced by sellers and buyers in non-metro cities. We are filling the vast gap of a dependable partner in the used car segment and associating the entrepreneurial spirit and local talent of non-metro cities with our platform for seamless execution,” said Mehul Agarwal, Co-founder and COO, CARS24. <br /><br />Cars24 sells over 13,000 cars every month through its platform. In over four years, it sold 1.6 lakh cars. It is now present in 35 cities with 150 branches, Cars24 plans to be in 70 cities with 230 branches, by 2019. <br /><br />“We only have 2% market share of the $30 billion used car market. In India, 5 million used cars are sold every year. Our objective is to take this 2% to 20% over the next 5 years,” Vikram Chopra, co-founder and CEO of Cars24 had said in an earlier interview with Business Insider.<br /><br />This development from Cars24 comes at a time when the Indian auto industry is witnessing a slowdown in the sales of new cars. The country’s largest car maker <a href="https://www.livemint.com/auto-news/maruti-suzuki-sales-down-14-in-june-at-124-708-units-1561984801149.html">Maruti Suzuki </a>too reported a 14% decline in sales in June. <br /><br />Passenger vehicle sales have been suffering for the last eight months. <a href="https://www.businessinsider.in/june-monthly-car-sales-data-points-to-a-severe-slowdown-in-india/articleshow/69985355.cms">Consumer sentiment has suffered due to</a> cost increases amid strict safety regulations, delay in monsoon, rural stress, slowing economy and liquidity constraints. <br /><br /><strong>See Also:</strong><br /><a href="https://www.businessinsider.in/news/auto-sales-continue-to-slip-for-eight-straight-months-making-revival-tough/articleshow/70034595.cms">Auto sales continue to slip for eight straight months, making revival tough</a><br />

EXCLUSIVE: Cars24, a startup selling used cars, wants outlets in 300 cities and is looking for potential franchisees

<p>It seems like all businesses are moving online these days, so it's no surprise that the gaming industry is following suit.</p>
<p>Morgan Stanley released a <a href="http://linkback.morganstanley.com/web/sendlink/webapp/static/research/article/index.html?b=Y2g9T3V0bG9vayUyMEJsYXN0bWFpbCZjdT1OMjAwNzE4OTYmaWQ9MmMwNmFmNDItMWRhMS0xMWU0LTg4ZDgtMzQ5ZTg4OGY4MDU4&amp;d=f%2Fe66941kg-3p1p-g00j-afb6-e41f13f03302%3Fstore%3D0%26d%3DUwBSZXNlYXJjaF9NUwAyYzA2YWY0Mi0xZGExLTExZTQtODhkOC0zNDllODg4ZjgwNTg%253D%26user%3Dkz1rms7fn9nb-196699%26__gda__%3D1536556228_4f0abb2fe2057b253ddc8950d2ec46a9&amp;s=f%2Fe66941kg-3p1p-g015-afb6-e41f13f03302%3Fstore%3D0%26d%3DUwBSZXNlYXJjaF9NU1NXRgAyYzA2YWY0Mi0xZGExLTExZTQtODhkOC0zNDllODg4ZjgwNTg%253D%26user%3Dkz1rms7fn9nb-196717%26__gda__%3D1536556228_5942d5508bd8fec54c92a22252b09388#docId:2c06af42-1da1-11e4-88d8-349e888f8058">research note</a> suggesting that the online gaming market might jump to <strong>$5.2 billion</strong> in less than six years.</p>
<p>Theoretically, if all 50 states could launch online gaming, the market could be twice as large - at <strong>$10.7 billion</strong>. However, Morgan Stanley's Thomas Allen notes that this event is "unlikely given [the] limited chances of Federal approval and [the] fact that there are only 39 states with Commercial or Tribal casinos today."</p>
<p>Here's the projection:</p>
<p><div class="KonaFilter image-container"><div class="image"></div><p></p></div></p>
<p>It's worth noting that running an online gambling operation isn't easy money. These businesses aren't profitable when the doors open.</p>
<p>Morgan Stanley makes two assumptions for these estimates. First, they assume that it will take four years for the businesses in early-adopter states to reach maturity, and for margins to ramp to their long-run rate estimate for 25%. Second, they assume that online gaming operators do not "break even in a given state" until the second year.</p>
<p>However, the research note also adds that information from New Jersey online gaming operators suggests that the Morgan Stanley estimates could be "conservative." Some operators are already reaching the breakeven levels after approximately 10 months.</p>
<p>Despite the huge growth potential, Morgan Stanley's hypothesis is actually a downgrade from earlier estimates. The group lowered their online gaming estimates following "lower-than-expected results to-date" in several early-adopter states.</p>
<p>However, they maintain that they "remain bullish on the online gaming opportunity in the US."</p>

Online Gaming In The US Could Be A $5.2 Billion Business By 2020

<p>The oil market is out of whack and Goldman Sachs doesn't see this situation sorting itself out for another year. </p><p>In a note to clients on Friday following <a href="http://www.businessinsider.com/opec-decision-and-crude-oil-prices-december-4-2015-12">OPEC's latest production announcement</a>, Goldman's Damien Courvalin wrote that the oil market's supply and demand balance won't be restored until the fourth quarter of 2016 at the earliest. </p><p>On Friday, OPEC - the 13-member oil cartel - announced that it will look maintain its current rate of production at around 31.5 million barrels per day. (Goldman, for its part, expects OPEC production to come in closer to 31.8 million barrels per day.)</p><p><div class="KonaFilter image-container display-table"><div><div class="image"><p class="source"><span>BAML</span></p></div><p></p></div></div>OPEC also said it would discuss how to accommodate higher production out of Iran at its next meeting in June. </p><p>Goldman added that OPEC commentary, "further stressed the need for the oil market to rebalance on its own ('wait and watch') and the organization made no comment on adhering to country level quotas."      </p><p>This approach from OPEC, however, could send oil prices even lower as markets may still fail to clear oversupply. </p><p>Here's Goldman:</p><p style="padding-left: 60px;"><span>For now, our price forecast reflects our belief that "financial stress" can solve the current market imbalance by gradually reducing excess supply capacity as demand recovers. We believe, however, that there are high risks that this may prove too slow an adjustment as inventories continue to accumulate and storage utilization nears high levels in the face of a mild winter, slowing EM growth and a potential lift of international Iranian sanctions. </span><strong>The rising probability that markets may need to adjust through "operational stress,"</strong><strong> when surpluses breach capacity,</strong> <strong>leaves risks to our forecast as skewed to the downside in coming months, with cash costs near $20/bbl."</strong></p><p>And so while Goldman is forecasting oil prices over the next few months to be near $40 a barrel, or roughly where they are trading today, there could be another 50% to fall as continuing OPEC production pushes producers towards the absolute lowest level they can conceivably manage. </p><p>For while much has been made of the "breakeven" cost of oil production over the last year, it is the "cash cost" which determines the actual floor for oil producers. The "breakeven" cost measures what oil price producers need to be profitable, the "cash cost" measures the absolute lowest level a producer can accept to keep their operation running (even if at a loss). </p><p>And as this chart from Bank of America shows, the cost of pumping oil has gone down as technology increases have made things much more efficient. </p><p><div class="KonaFilter image-container display-table"><div><div class="image"><p class="source"><span>BAML</span></p></div><p></p></div></div></p><p>The strategy that has been employed by OPEC over the last few years as US shale production has ramped up has been to push ahead and seek to both bring in as much revenue as possible by simply selling oil at prevailing market prices and hope to push out smaller, marginal producers as a result of these low prices created by an oversupplied market. </p><p>In other words, OPEC has been content to play chicken with US producers. </p><p>But as long as investors remain willing to invest in oil companies that are operating above their "cash cost" level, then it won't be financial stresses on the company level that allow markets to clear, but stresses at the storage level that might be needed for the market to balance. </p><p>And as we see in this chart from Bank of America, there are signs physical storage capacity for oil is simply running short. </p><p><div class="KonaFilter image-container display-table"><div><div class="image"><p class="source"><span>BAML</span></p></div><p></p></div></div></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/massive-us-supercarrier-fight-isis-2015-11">This massive American aircraft carrier is headed to the Persian Gulf to help fight ISIS</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="wzYW0yeTqXghAkuW2PSzuZDyBbaQkEV5" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Goldman thinks oil prices could fall another 50% as the market spends another year sorting itself out

New Delhi, Dec 4 () NoBroker.com, a brokerage free property platform, on Wednesday announced its entry into the Delhi-NCR market and aims to have presence in 20 major cities over the next three-four years. 
<p>In October, the Bengaluru-based firm raised USD 50 million in Series D funding, led by Tiger Global Management, for business expansion. It has raised USD 121 million since its inception in 2014. 
</p><p>NoBroker.com helps in buying/selling and renting of housing and commercial properties by connecting owner and property seekers without involving brokers.
</p><p>"We have entered into the Delhi-NCR which is the biggest property market in the country," NoBroker.com co-founder Saurabh Garg told reporters here.
</p><p>The company now has presence in six cities -- Bengaluru, Mumbai, Pune, Hyderabad, Chennai and the national capital region and aims to have presence in 20 major cities over the next three-four years.
</p><p>Since its launch in New Delhi, NoBroker.com has already garnered 62,000 consumer registrations and over 27,000 listings on the platform. It has, thus far, facilitated over 1100 deals in the region.
</p><p>On operational front, co-founder Amit Kumar Agarwal said the company is facilitating 20,000 transactions per month, of which 85 per cent are for rental.
</p><p>Asked about revenue model, Agarwal explained that the company earns money by charging for premium service which is providing a phone relationship manager to help fast execution of transaction.
</p><p>The company also generates revenue by offering value-added services like packers and movers, property loan, legal documentation, furniture rental and 'NoBroker Pay' for rent payment through credit card, he added.</p><p>   
</p><p>Garg said the company has already achieved break-even in Bengaluru and Mumbai. It takes 12-18 moths to break-even in any city, he added. </p><p>
</p><p>The company, however, declined to disclose the revenue posted in the last fiscal. 
</p><p>"The idea of zero brokerage holds a lot of appeal for the value conscious Indian consumer. Our platform aims to create a transparent real estate ecosystem by eliminating brokerage from the equation." Agarwal said.    </p><p> NoBroker also helps customers in suggesting the ideal location to buy or rent a property as well as the rent or capital value of the property. 
</p><p>The company raised an initial round of funding from SAIF Partners of USD 3 million in 2015, followed by a Series B of USD 17 million from Japanese investor Beenext and Korean investor KTB Ventures in 2016. 
</p>In June 2019, NoBroker raised USD 51 million from General Atlantic.  MJH   DRR
DRR

NoBroker expands to Delhi NCR; aims to be present in 20 major cities over next 3-4 yrs

<div style="float: right; margin: 15px 0 20px 20px;"><table border="0" cellspacing="0" cellpadding="0"><tbody><tr><td colspan="2"><a href="https://static-ssl.businessinsider.com/category/chart-of-the-day"> </a></td></tr><tr><td><a href="http://www.businessinsider.com/category/chart-of-the-day"></a></td><td><a href="http://www.businessinsider.com/rosenberg-bear-markets-dont-just-happen--theyre-caused-by-these-two-conditions-2014-11"></a></td></tr></tbody></table></div><p>Technological advances in hydraulic fracturing has fueled what some call the Great American Shale Boom. Oil and natural gas extracted from shale basins has <a href="http://www.businessinsider.com/us-energy-independence-one-chart-2014-10">left the US flush with energy</a>.</p>
<p>However, it's not cheap to tap these so-called unconventional plays.</p>
<p>In other words, <a href="http://www.businessinsider.com/crude-oil-fall-november-3-2014-11">crashing oil prices</a> will soon make many of these energy sources <a href="http://www.businessinsider.com/shale-basin-breakeven-prices-2014-10">money-losing projects</a>. Morgan Stanley estimates the average breakeven oil price for these US plays to be <a href="http://www.businessinsider.com/shale-basin-breakeven-prices-2014-10">around $76-$77 per barrel</a>. Goldman Sachs puts that number at <a href="http://www.businessinsider.com/goldman-us-shale-production-slowdown-at-75-oil-2014-10">closer to $75</a>.</p>
<p>To make matters more complicated, many of these energy companies are financing their operations by borrowing in the junk bond market.</p>
<p>"As oil prices have fallen recently, so have <a href="http://www.schwab.com/public/schwab/nn/articles/How-Are-High-Yield-Bonds-Hurt-by-Falling-Oil-Prices">prices of high-yield bonds</a>," Charles Schwab's Collin Martin wrote in October.</p>
<p>"Oil prices can have a broad impact on the high-yield bond market because energy corporations have been increasing their share of the high-yield bond market. Today, energy companies make up more than 15% of the Barclays U.S. Corporate High-Yield Bond Index. That's up from less than 5% of the index at the end of 2005-and the chart below shows that the share has been steadily increasing over the past decade."</p>
<p>If the price of oil can't cover production expenses and/or force these companies to idle their operations, then you could expect a rise in delinquencies and defaults.</p>
<p>Even worse, this comes as interest rates are broadly expected to go higher from here.</p>
<p><div class="KonaFilter image-container display-table"><div><div class="image"></div><p></p></div></div></p>

Crashing Oil Prices And Rising Interest Rates Make This A Scary Chart

India’s online market place <a href="http://www.businessinsider.in/searchresult.cms?query=snapdeal&amp;sortorder=effectivedate">Snapdeal </a>laid-off 600 employees recently and warned the co-founders employees for more tough decisions. Well, <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> is not along in <a href="http://www.businessinsider.in/searchresult.cms?query=layoffs&amp;sortorder=effectivedate">firing its employees</a> as more<a href="http://www.businessinsider.in/searchresult.cms?query=startups&amp;sortorder=effectivedate"> Indian startups </a>are handing out pink slips to hundreds.<br />
<br />
The fear of being fired is looming large on employees as many startups have begun giving notices to workers to trim costs, save money and make profits.<br />
<br /> Apart from Snapdeal, other <keyword id="982553" type="UNKNOWN" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> such as <a href="http://www.businessinsider.in/searchresult.cms?query=craftsvilla&amp;sortorder=effectivedate">Craftsvilla</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=yepme&amp;sortorder=effectivedate">YepMe</a>, Tolexo, etc have laid-off employees recently.<br />
<br /> "(<keyword id="635221" type="UNKNOWN" weightage="20" keywordseo="Craftsvilla">Craftsvilla</keyword>) has laid off more than 100 staffers in recent weeks, including its entire product and technology teams and most of its operations and marketing teams,” a former senior executive of the company told ET.<br />
<br />
In fact, some senior employees aware of the coming troubles had put in their papers a couple of months ago, sources told ET.<br />
<br />
Industry experts say the lay-offs could be due to slowing funding, rash decisions by founders, etc.<br />
<br /> "More (<keyword id="6357067" type="EVENT" weightage="20" keywordseo="layoffs">layoffs</keyword>) will happen throughout 2017. The cleanup has started and most consumer internet companies will go through this,” Harminder Sahni, managing director at consultancy Wazir Advisors, told ET.<br />
<br /> "While we were preparing for the worst, we still had a little hope. But when it was clear the company was shutting, the main priority was to relocate the employees,” Ipe Walliaveetil, who was senior manager for operations at <keyword id="1112419" type="UNKNOWN" weightage="20" keywordseo="Stayzilla">Stayzilla</keyword>, told ET.<br />
<br />
Fashion retailer YepMe recently laid off an unspecified number of people from its warehousing and quality control teams.<br />
<br />
"We were planning to break-even in January. But demonetisation hit, (the option for cash payments on delivery) disappeared and sales were down. We decided to move our focus outside of India,” Vivek Gaur, founder of YepMe, which recently began operations in the United Kingdom, told ET.

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