Latest news with #Forbes30Under30
Forbes
7 hours ago
- Business
- Forbes
Haley Pavone Scaled Her Convertible Heel Invention To 8 Figures With Zero Marketing Spend
Haley Pavone, CEO of Pashion Footwear. Forbes 30 under 30 alumn, Haley Pavone, turned her struggle, and countless other women's struggle, of wearing painful footwear into an eight figure business. After having enough with dealing with painful heels, she decided to invent a convertible sole with interchangeable heels. Since its launch in June 2019, Pashion has experienced significant growth, reporting an 85% increase in sales last year and a 19% EBITDA. 'The idea first struck me in the Spring of 2016. After thinking on the idea for a while and developing a rough business plan. Shortly after coming up with the idea, I carried out extensive market research, reading through old patents for similar concepts and identifying what went wrong. I quickly realized that while prior attempts had focused solely on removing the heel, in order to make a technology that was both functional and attractive - it was essential that the sole be innovated on as well. No other attempt at a technology like this had ever reached the same conclusion, confirming for me that I was on to something unique and compelling. Once I had my initial idea, I participated in my university's startup pitch competitions to secure my first $26,500 in equity-free funding. I used that money to hire a professional footwear development team, create the first wearable prototypes, and file our initial utility patents. I formally founded the company on October 4th, 2016 and after two and half years of R&D, we launched to market with our website on June 24, 2019. ' Pavone explained. Pashion's patented technology allows for interchangeable heels giving consumers the option to go ... More from flats to kitten or high heels all within the same wear. One of the biggest challenges Pavone faced after launching was educating the consumer around this new concept. Through trial and error Pavone and her team honed in on grass roots marketing that led them to eight figures in lifetime sales. 'Our biggest marketing challenge from day one was the fact that we weren't just launching a new brand, but an entirely new category. Global google searches for "convertible heels" were >100 per month when we got started. We knew we had an uphill battle of not only getting the word out that the "impossible shoe" had been made possible and was now a viable option to look for, but that we also had to earn the consumers trust. After all, the concept is so novel that at first, it can seem "too good to be true". We had to gain awareness, educate, and earn trust before each and every sale,' she further explained. 'Eventually, we learned that truly our most effective marketing had to be organic, women trust other women more than they could ever trust a new brand they haven't heard of prior. We launched ambassador programs and carried out product seeding efforts to get our initial community of Pashionistas bought in and then armed them with discounts codes and content guides to help spread the word to friends and family. Seeing the shoes (in person) really is believing - and seeing them used by your best friend on her wedding day so she can dance all night pain-free? That's what sells more shoes.' Pavone hasn't spent a dollar on digital advertising in nearly three years. Since 2023, Pashion's organic content, ambassador programs and corresponding word of mouth has driven over 9M visitors to the Pashion site. Pashion's patented technology, known as the Stelo, is the only method of shoe conversion that allows for a stable heel with the same structural integrity as a non-convertible heel and a flexible midsole that lays completely flat when the mechanism is removed in addition to full heel customization, allowing a consumer to swap shapes, heights, and designs. This three-pronged approach to footwear gives pashion a competitive edge against other technologies that do not utilize a removable sole. Typically support is limited, either by a sole that's too rigid to go flat, a sole that's too flexible for a safe heel, or a mechanism that lacks the ability to swap the heels. The Stelo utility patents are fully issued in 30 countries, securing market dominance in this emerging category. Pahsion's interchangeable heel's have been extremely popular amongst brides. Pavone emphasized the unique aspects of Pashion's business model, fueled by its patented convertible shoe technology that allows wearers to mix and match different heel heights and designs along with a chosen sole. This innovation fosters customer loyalty and provides the brand with a high percentage of repeat orders. When it comes to the design process for heel styles, Pavone looks to the Pashion community for inspiration, 'Our design process is a team effort that incorporates a mix of our sales data, industry trend forecasts, and, most importantly, customer feedback and social commentary. Having built such a strong online community, we are always asking our customers what they want to see next, sharing BTS videos with them about the design process, and collecting their feedback in real-time along the way. This approach has been a major factor in the rabid success of our drop days , for instance, posting over 15 same-day sellouts in 2024,' she explained. 'Our most popular shoe for a first-time customer is the Latte Leather Sandal with a 3" Block Heel. Overall, our 3" block heels across all styles sell the best, gaining praise for being exceptionally comfortable and convenient while still providing that classic heel look.' In 2024 Pashion grew its top line 85%, achieving $9M in gross sales and posting a 19% EBITDA (which is nearly double the industry average of 10%). This growth is attributed to the unique customization model allowing Pashion to post industry-leading margins across its blended assortment. Later this year, Pashion will be launching its first collection created with a guest designer, bolstering its brand awareness further. Continuing to propel growth, Pavone is also exploring exciting pathways into retail, revolutionizing the shoe shopping experience as customers will be able purchase a fully customized product same-day. Currently, Pashion is available to purchase on and a capsule collection available on
Web Release
18 hours ago
- Business
- Web Release
IFS appoints Kriti Sharma as CEO of Nexus Black and expands AI leadership team to accelerate Industrial and Agentic AI innovation
IFS, the leading provider of enterprise cloud and Industrial AI software, today announced the appointment of Kriti Sharma as CEO of IFS Nexus Black. This strategic move reinforces IFS's commitment to Industrial AI and fast-tracks the development of agentic AI systems designed for the asset- and service-intensive industries it serves. Sharma is a globally recognized AI leader with a strong track record in building enterprise AI products and scaling responsible AI initiatives. She joins IFS from Thomson Reuters, where she served as Chief Product Officer for LegalTech, leading major AI transformations. She previously held senior AI roles at Sage Group and GfK, and is a non-executive board member of Rightmove PLC. Her work has been recognized by Forbes 30 Under 30, the UK Prime Minister's Points of Light award, and the United Nations, where she was named a Young Leader for her contributions to ethical and inclusive AI. As CEO of Nexus Black, IFS's AI innovation accelerator launched earlier this year, Sharma will lead the design and delivery of domain-specific, agentic AI for industries such as manufacturing, energy, aerospace, and construction. She will work closely with customers to deliver practical, scalable applications that solve complex, high-value, industry-specific challenges. Kriti Sharma, CEO of IFS Nexus Black, said: 'GenAI was just the starting line. The real opportunity lies beyond generic tools. The revolution happens with contextual, agentic AI that solves deeply complex, industry-specific problems. From predicting critical asset failures to optimizing global supply chains, with Nexus Black we're not just building AI – we're building intelligence that works in the real world.' Joining Sharma is Nick Vandivere, appointed Chief Innovation Officer, Nexus Black. Vandivere also joins from Thomson Reuters and will lead the expansion of IFS's Industrial AI pipeline. He will focus on frontier use cases and strategic technology investments, working closely with Sharma to accelerate agentic AI delivery across the IFS Cloud platform. Mark Moffat, CEO of IFS, said: 'This is a critical moment in our AI journey. We're not just exploring what's possible, we're building what's needed. With Kriti at the helm of Nexus Black and an exceptional team of leaders driving innovation across our business, IFS is uniquely positioned to deliver Industrial AI that is contextual, agentic, and deeply relevant to the industries we serve.' These appointments reflect IFS's continued investment in delivering intelligent automation, real-time decision-making, and AI agents purpose-built to solve the challenges of industries that maintain critical infrastructure and services.
News18
2 days ago
- Business
- News18
Venture Capitalist Alleges Indian-origin Startup Founders Faked Ties With Tech Giants To Lure Investors
Ash Arora's claims of misconduct by two Indian-origin founders have sparked a social media debate on startup ethics. US-based venture capitalist Ash Arora has alleged serious misconduct by two Indian-origin startup founders, claiming they misrepresented their businesses to lure investors. These allegations have sparked both criticism and introspection across the startup community. In a post shared on X (formerly Twitter), Arora, a partner at LocalGlobe and a Forbes 30 Under 30 (Europe Finance) listee, said, 'Have met two founders in SF this month. Both fraud: 1. Is subletting a rented apartment and showing that as revenue for his startup. 2. Is claiming Amazon and Google are clients who have signed LOIs when they have never even heard of them," she wrote. What truly lit the fuse, however, was Arora's follow-up remark, where she wrote, 'What's common among them? Both desi men. Beware of these people!" This characterisation quickly ignited debate online. While the underlying concern about startup ethics struck a chord with many, others took issue with her framing, accusing her of reinforcing stereotypes based on ethnicity. A sample of two. What's the point of including their race ?— bubble boi (@bubblebabyboi) July 8, 2025 Another user wrote, 'The 'desi men' part is a spicy take, but honestly, the patterns of fraud in SF are pretty universal. Desperation or greed, it always comes back to the same stuff." The 'desi men' part is a spicy take, but honestly, the patterns of fraud in SF are pretty universal. Desperation or greed, it always comes back to the same stuff.— Dan (@salinasdanielf) July 8, 2025 'Generalise a race off of a sample set of 2? Why would a brown male founder even want to take your money? Do better," read one of the comments. Generalize a race off of a sample set of 2?Why would a brown male founder even want to take your money? Do better. — Vishal Jain (@vishal_the_jain) July 9, 2025 Arora, though, stood by her words. She clarified that her use of the term 'desi" was intended to subtly point to the individuals without directly naming them. 'It breaks my heart that Indians are doing this and ruining the reputation of my country," she replied to one of the comments. Because it breaks my heart that Indians are doing this and ruining the reputation of my country— Ash Arora (@asharoraa) July 8, 2025 The conversation escalated further when Arora revealed that a few investors reached out to her. '4 VCs have pinged me correctly guessing both these founder names. Is this Soham Parekh 2.0? We need a BS radar community out here," she wrote, referencing the now-infamous case of Soham Parekh, an engineer who was recently accused by Mixpanel co-founder Suhail Doshi of fabricating parts of his resume and misrepresenting his background. 4 VCs have pinged me correctly guessing both these founder namesIs this Soham Parekh 2.0? We need a BS radar community out here. — Ash Arora (@asharoraa) July 8, 2025 The timing of Arora's remarks, coming just days after Suhail Doshi publicly called out Soham Parekh, has further heightened scrutiny over how startup founders portray themselves and their ventures to investors. While the identities of the two founders remain unknown, the post has reignited concerns about ethical standards in startup culture, especially within Silicon Valley's competitive ecosystem. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
NDTV
3 days ago
- Business
- NDTV
"Soham Parekh 2.0?": Indian Woman In US Exposes Startup Scams By 2 "Desi" Founders
A US-based Indian venture capitalist has stirred up a storm on social media after calling out fraudulent practices by two "desi" founders in San Francisco's startup ecosystem. Ash Arora, a LocalGlobe partner featured on the Forbes 30 Under 30 (Europe Finance) list, alleged that she met two Indian founders who were inflating metrics and fabricating client associations. She claimed that while one founder was subletting a rented apartment and falsely projecting the rent income as startup revenue, the other claimed that Amazon and Google had signed Letters of Intent with his firm, despite the tech giants reportedly having no knowledge of such deals. "Have met two founders in SF this month. Both fraud: 1. Is subletting a rented apartment and showing that as revenue for his startup. 2. Is claiming Amazon and Google are clients who have signed LOIs when they have never even heard of them," Ash Arora wrote. "What's common among them? Both desi men Beware of these people!" she continued, adding, "4 VCs have pinged me correctly guessing both these founder names. Is this Soham Parekh 2.0? We need a BS radar community out here." 4 VCs have pinged me correctly guessing both these founder names Is this Soham Parekh 2.0? We need a BS radar community out here. — Ash Arora (@asharoraa) July 8, 2025 The post quickly caught the internet's attention, sparking mixed reactions. Several users accused Ms Arora of unfairly singling out her own community. "A sample of two. What's the point of including their race?" asked one user. "The 'desi men' part is a spicy take, but honestly, the patterns of fraud in SF are pretty universal. Desperation or greed, it always comes back to the same stuff," commented another. However, Ms Arora defended her mention of the founders' ethnicity, saying, "Absolutely shocked to see egos being hurt here. The ONLY reason I mentioned them being desi was to ensure other people (and investors) are able to guess who these people are without actually naming and shaming them. The intention was to ensure people are staying away from these founders. That's it." "As a desi myself, why in the world would I think lesser of my own community? It is dumb to think someone who is consistently proud of India, literally talks about successes every month and supports Indians in this world would ever want anything except progress for our ethnicity. Also, if we can't self criticize, who will? How will we ever fix something if we are too proud to acknowledge it? If a non Indian pointed out this 'jugaad' culture that is already present everywhere in our country, they would 100% be called racist in this woke environment. Didn't we cancel woke culture? Do better," she added. Others on social media expressed shock at the fraudulent practices. "I really don't understand. This way will never stay longer than few weeks or months. The end is dead. With life goal of genuinely making difference in whatever industry they are willing to do with perseverance is key to success. Shortcuts Never Works," wrote one user. "What's the point of doing this? If you're severely inflating your revenue, you're only hurting yourself. You'll never truly validate your idea, and you'll keep pouring time and effort into the wrong direction," commented another. Notably, Ms Arora's post comes days after Mixpanel founder Suhail Doshi publicly warned fellow entrepreneurs about software engineer Soham Parekh on X. Mr Doshi alleged that Parekh had worked at Mixpanel briefly before being fired and claimed that Parekh had been taking advantage of YC companies. Mr Doshi also shared Parekh's CV, questioning the authenticity of his portfolio, and arguing that probably 90% of the claims made in it are fake. Several other Silicon Valley founders, engineers, and hiring managers also accused Parekh of exploiting job opportunities for personal benefit
Channel Post MEA
4 days ago
- Business
- Channel Post MEA
IFS Appoints Kriti Sharma As CEO Of Nexus Black
IFS has announced the appointment of Kriti Sharma as CEO of IFS Nexus Black. This strategic move reinforces IFS's commitment to Industrial AI and fast-tracks the development of agentic AI systems designed for the asset- and service-intensive industries it serves. Sharma is a globally recognized AI leader with a strong track record in building enterprise AI products and scaling responsible AI initiatives. She joins IFS from Thomson Reuters, where she served as Chief Product Officer for LegalTech, leading major AI transformations. She previously held senior AI roles at Sage Group and GfK, and is a non-executive board member of Rightmove PLC. Her work has been recognized by Forbes 30 Under 30, the UK Prime Minister's Points of Light award, and the United Nations, where she was named a Young Leader for her contributions to ethical and inclusive AI. As CEO of Nexus Black, IFS's AI innovation accelerator launched earlier this year, Sharma will lead the design and delivery of domain-specific, agentic AI for industries such as manufacturing, energy, aerospace, and construction. She will work closely with customers to deliver practical, scalable applications that solve complex, high-value, industry-specific challenges. Kriti Sharma, CEO of IFS Nexus Black, said: 'GenAI was just the starting line. The real opportunity lies beyond generic tools. The revolution happens with contextual, agentic AI that solves deeply complex, industry-specific problems. From predicting critical asset failures to optimizing global supply chains, with Nexus Black we're not just building AI – we're building intelligence that works in the real world.' Joining Sharma is Nick Vandivere , appointed Chief Innovation Officer, Nexus Black. Vandivere also joins from Thomson Reuters and will lead the expansion of IFS's Industrial AI pipeline. He will focus on frontier use cases and strategic technology investments, working closely with Sharma to accelerate agentic AI delivery across the IFS Cloud platform. Mark Moffat , CEO of IFS, said: 'This is a critical moment in our AI journey. We're not just exploring what's possible, we're building what's needed. With Kriti at the helm of Nexus Black and an exceptional team of leaders driving innovation across our business, IFS is uniquely positioned to deliver Industrial AI that is contextual, agentic, and deeply relevant to the industries we serve.' These appointments reflect IFS's continued investment in delivering intelligent automation, real-time decision-making, and AI agents purpose-built to solve the challenges of industries that maintain critical infrastructure and services.
