Latest Breaking News On - Marketing cost - Page 2 : vimarsana.com
CHICAGO, May 13, 2021 /PRNewswire/ Opportunity Financial, LLC (
OppFi or the Company ), a leading financial technology platform that powers banks to help the everyday consumer gain access to credit, today reported financial highlights for the first quarter ended March 31, 2021. On February 9, 2021, OppFi and FG New America Acquisition Corp. (NYSE: FGNA), a special purpose acquisition corporation, entered into a definitive agreement for a business combination that would result in OppFi becoming a public company. Our strong results in the first quarter of 2021 reinforce our efforts to efficiently serve the overlooked everyday consumer, stated Jared Kaplan, chief executive officer, OppFi. During the quarter, credit performance continued to show positive momentum from 2020, which drove improved profitability. Our ongoing artificial intelligence enhancements led to an increase in our auto-approval rate quarter over quarter to 41% from 26%, and we expect it will reach 60% by
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April 15, 2021
Focus on chasing growth and huge marketing costs are two major reasons India s most-valued edtech firm BYJU S, which was targeting $150 million in net profit, has not been able to achieve it despite being backed by the onrush of 25 million-plus new users on its platform in pandemic-struck 2020. The start-up has grown its registered student user base from 70 million 4.5 million annual paid subscriptions last October to 80 million registered students 5.5 million annual paid subscriptions at present.
Focus on chasing growth vs profitability, huge investments in marketing, increasing its penetration into tier 2, tier 3 and tier 4 towns, heavy investments in office space, and high price points of its annual subscriptions are some of the reasons that may have come in the way of BYJU’s achieving its net profit target.
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