MAM
VIDA V1 collabs with TCS World 10K Bengaluru 2024
Mumbai: Reiterating its commitment towards sustainability, VIDA, powered by Hero, the emerging mobility brand of Hero MotoCorp has collaborated with pioneers of the distance running movement in India Procam International as the electric two-wheeler partner for the Tata Consultancy Services (TCS) World 10K Bengaluru.
The race is scheduled to be held on Sunday, 28 April 2024. This collaboration is yet another significant step by both companies towards promoting sustainable mobility and encouraging individuals to embrace clean transportation solutions.
As part of the partnership, VIDA is set to curate an experiential journey for the participants through various touchpoints and activations. From pre-race festivities to post-run celebrations, runners will be able to engage with VIDA throughout the event.
Progress Parade – A convoy of VIDA V1 electric scooters will be at the start line of the “Majja Run” of the TCS World 10K Bengaluru. The VIDA V1 scooters, with their distinctiveness and energy, will take the lead and set the stage for the runners as they embark on their run. The VIDA V1 convoy will feature customers who have opted for clean mobility through VIDA V1 and real-life change makers who are bringing a transformation through their efforts. This convoy of change makers serves as proof that change begins with the action of a single person.
Official electric scooter – The VIDA V1 is the official electric scooter of the world’s premier 10K and the VIDA V1 will be used for all official requirements during the event.
Launched in 2022, VIDA embodies Hero MotoCorp’s vision to “Be the Future of Mobility”, with a focus on creating a meaningful world for future generations. Hero MotoCorp is one of the world’s largest corporate promoters of multiple sports. Through VIDA, this is the company’s first foray into the world of distance running.
On the association, Hero MotoCorp chief business officer – emerging mobility business unit (EMBU) Dr Swadesh Srivastava said, “At VIDA, we believe in empowering individuals to make choices that promote sustainability and contribute towards a greener, healthier planet. Just as EVs promote a healthy planet, running is a healthy lifestyle choice too. Thus, we are delighted to be associated with TCS World 10K, Bengaluru, and put spotlight on the importance of sustainable mobility and wholesome choices. VIDA is committed to fostering a brighter future through our innovative products and services that offer convenience and efficiency. Our aim is to inspire participants to make environmentally conscious choices. Together, we can drive meaningful change and create a more sustainable world for generations to come.”
Speaking about the association, Procam International Jt MD Vivek Singh said “We are pleased to welcome VIDA on board as the electric two-wheeler partner. Procam is committed to building partnerships that will enhance the race experience as well as contribute to the larger societal narrative. With Bengaluru emerging as a hub for electric mobility, this strategic alliance aims to revolutionize the local market, leveraging the city’s ever-growing affinity towards eco-friendly transportation solutions and delivering a green-conscious race.”
VIDA is present in over 100 cities across India and will commence operations in Europe in FY’25. Its maiden offerings are the VIDA V1 Pro and the VIDA V1 Plus electric scooters. The V1 Pro comes equipped with the best-in-class combination of performance (0-40 in 3.2 secs), a no-compromise real-world range of 110 Km and a top speed of 80 km/h. Demonstrating cutting-edge technology, the VIDA V1 also offers industry-leading features such as custom mode (100 plus combinations), cruise control, boost mode, two-way throttle, key-less access and an over-the-air enabled 7” TFT Touch-Screen. This electric scooter is based on an intelligent platform that’s modular, scalable & flexible, enabling it to learn and adapt on the go.
Procam International and its running events have been a testament to the power of this sport and what can be achieved when objectives are purpose-driven, passion-led and fuelled by the unwavering belief, to bring about a change in society for good. Over the years, TCS World 10K Bengaluru has changed the social, health & fitness paradigm in this country. Furthermore, the event has undertaken various green initiatives i.e. being a 100 per cent waste-managed race, the Madiwala Lake Urban Forest, and Cubbon Park Rejuvenation Project among others.
TCS World 10K Bengaluru is a world athletics gold label race and this edition will see a record number of participation from over 30,000 runners from across the globe.
Brands
UK’s OnlyFans seeks US investor at $3bn valuation after owner’s death
The adult video platform is seeking stability after the death of its billionaire owner
LONDON: OnlyFans is looking for a new partner. The London-based adult video platform is in advanced talks to sell a minority stake of less than 20 per cent to Architect Capital, a San Francisco-based investment firm, in a deal that would value the business at more than $3bn (£2.2bn).
The move is driven by an urgent need for stability. Leonid Radvinsky, the Ukrainian-American billionaire who owned OnlyFans, died of cancer last month at the age of 43, leaving the future of one of Britain’s most profitable privately held businesses suddenly uncertain.
The choice of Architect Capital is not arbitrary. The firm has deep expertise in financial services, which aligns neatly with OnlyFans’ ambitions to offer banking products to its creators, many of whom have long struggled to access basic financial services because of the nature of their work.
The numbers behind OnlyFans are, by any measure, staggering. The platform posted revenues of $1.4bn in the year to 30th November 2024, with a pre-tax profit of $684m, up four per cent on the prior year. Payments to creators totalled $7.2bn over the same period, a rise of nearly ten per cent. Radvinsky personally collected $701m in dividends from the business in 2024 alone, on top of more than $1bn in such payments he had already received. The platform, run through its parent company Felix International, hosts 4.6m creator accounts, with performers keeping 80 per cent of subscription proceeds and the platform pocketing the remaining 20 per cent. It has 377m fan accounts in total.
The current minority stake talks represent a notable scaling back of ambitions. In January, OnlyFans was reported to be in discussions with Architect about selling a majority stake of 60 per cent. Before that, the company had explored a sale to a consortium led by Forest Road Company, a Los Angeles-based investment firm. Neither deal materialised.
OnlyFans has built an enormously lucrative business on content that mainstream finance has long refused to touch. Now, with its owner gone and a $3bn valuation on the table, it is looking for the kind of respectable institutional backing that might finally persuade the banks to take its calls.
