MEDICAPS UNIVERSITY

Session:2022-25
Topic- Case Studies Of 10 Startups
Subject-Entrepreneurship development

Submitted to: Submitted by:

Prof.G.K Sharma Kumari Sanjana

 CASE STUDIES OF 10 STARTUPS
Daily hunt

• DAILYHUNT - ABOUT AND HOW IT WORKS:

Dailyhunt is an Indian local news and content aggregator app that provides local
language content in 14 Indian languages, which include major languages like
Hindi, Kannada, and Marathi to name a few, from over 3000+ content providers.

It is one of the early entrants in the regional content space in the country. The
interesting part is that the platform also offers short videos. This video content
is sourced from organizations and stringers. Through its smart technology, the
platform personalizes the content as per the users' requirements.

From the nation's biggest news source to hyperlocal correspondents, it curates

news that you will surely love to watch. Almost 90% of the users use the
platform in regional languages. It serves more than 350 million users a month,
as per the latest reports. The unique proposition is that the users can browse
the topics of their interest and also share news over different social media
platforms like Whatsapp, Facebook, etc.

• DAILYHUNT - FOUNDERS AND TEAM :

Virendra Gupta is the founder and CEO of Dailyhunt while Umang Bedi is the
co-founder and Shailendra Sharma is the co-founder & SVP of Dailyhunt.
▪ Virendra Gupta
 Virendra Gupta has a B.E degree in Electronics and Communication from
Jodhpur's MBM Engineering College, after which he completed a Master's in
Management from IIT Mumbai School of Management. Gupta started his
career with OnMobile where he was in Marketing and Alliances. After his
brief stint with OnMobile, Virendra moved on to work with other companies
including Bharti Cellular and Trilogy, where he served in various key
leadership positions. Virendra Gupta eventually founded Verse, a value-
added service company in 2007, which led him to acquire Newshunt (now
Dailyhunt) in 2011, thereby becoming the Founder and CEO of both
companies.

▪ Umang Bedi
Now known as the Co-founder of Dailyhunt, Umang Bedi was a Pune University
student from where he completed B.E in Electronics. He then pursued a General
Management Program from the Harvard Business School. Starting his career as
a Managing Director of Intuit Inc, Umang has served as a Managing Director in a
couple of other notable companies too, which includes Adobe and Facebook
before being appointed as the President of Dailyhunt in 2018. Bedi was elevated
to the designation of Co-founder in 2020. Umang is also the Statutory Board
Member of Goals101.

▪ Shailendra Sharma

Shailendra Sharma is the SVP of Engineering at Dailyhunt. Starting as a Software

Trainee at Tata Research and Development Center, Sharma went on to work
with Persistent Systems and Trilogy before he co-founded Dailyhunt with the
other co-founders. Sharma is also regarded as the Founder of 360fy
Technologies. Shailendra Sharma is also a Pune University alumnus from where
he completed an MCA in Computer Science.

Virendra Gupta had initially started Dailyhunt. Later, he roped in Umang Bedi
and Shailendra Sharma to make the platform available to a larger audience.

Dailyhunt has an employee strength of between 251-500 employees.

 • DAILYHUNT - STARTUP STORY | HOW WAS DAILYHUNT
STARTED?
Dailyhunt, earlier known as Newshunt, was initially started by two ex-Nokia
employees, Umesh Kulkarni and Chandrashekhar Sohoni. It was created as a
Symbian app in 2009. However, later in 2011, Newshunt was acquired by
Virendra Gupta, who was then the founder of VerSe Innovation. He had started
his venture Versé Innovation Pvt Ltd. as a value-added service (VAS) company
that provides SMS alerts on jobs, matrimony, property, news, and education to
subscribers from around the country. In 2015, he renamed Newshunt dailyhunt.

• DAILYHUNT - BUSINESS PLAN :

From the nation’s biggest news source to hyperlocal correspondents, it curates
news that you will surely love to watch. Almost 90% of the users use the platform
in regional languages. It serves more than 350 million users a month, as per the
latest reports. The unique proposition is that the users can browse the topics of
their interest and also share news over different social media platforms
like Whatsapp, Facebook, etc.

DailyHunt consists of two Business Models:-

• Impressions Based (News): DailyHunt has partnerships with big news media
and publishing houses where it shares the profit with them, earned on the
news screens.
• Transactions Based (Books, Magazines, and Singles): It has partnerships
with book and magazine publishers, where it acts as a dealer for these
books, collect the profit from the users and gives it to the publishers who
can share it with the authors as well.

The company acts as a news aggregator through Dailyhunt, they also have
another entity called Greynium Technologies that house news and various other
platforms that provide content such as CareerIndia, OneIndia, Boldsky.com,
Gizbot, etc. The Dailyhunt group has a huge base of content providers which
include 100K content partners, news content published in 14 different languages
by content creators producing 250K news every day.
The top traffic source to dailyhunt is search traffic, driving 51.50% of desktop
visits last month, and direct is the 2nd with 46.31% of traffic. The most
underutilized channel is ads.

• DAILYHUNT - REVENUE MODEL :

Dailyhunt is free for users who want to read the news and other relevant
content from the app. It generates revenue from:

1. Impressions Based (News): Tie-ups with large news media and

publishing houses wherein Dailyhunt shares the advertising revenue on
the news screens with these players.
2. Transactions Based (Books, Magazines, and Singles): Tie-ups with book
and magazine publishers, wherein the platform acts as a distributor for
these books, collects the revenue from the users and shares it with the
publishers who in turn may share it with the authors.
3. In-App Advertisements: Dailyhunt also earns from the advertisements
of the companies and startups that feature on the app.

• DAILYHUNT - MARKETING CAMPAIGNS :

Dailyhunt runs many marketing campaigns to reach its targeted audience. Some
of the campaigns are mentioned below for your knowledge.

• Aur Kya Chal Raha Hai – This campaign was launched in October 2015.
This campaign they created to as a rebranding campaign. As it
NewsHunt was renamed Dailyhunt in 2015.
• News ka Daily Dose
• #HarBhashaEqual – Launched in August 2018, this highly innovative
digital campaign highlighted our in-built bias against our vernacular
languages and aimed at promoting language equality in India.
• #KhudKiSochBanao – Published on social media in March 2019 ahead of
the General Elections, this film by Dailyhunt urges people to make their
own opinions and not be parroting that repeat what’s fed to them.
• #DailyhuntHaiNa – The campaign reaches out to millennials across
India, through fresh, young and quirky videos using humor to connect
with them and to highlight the core benefits of Dailyhunt.
 • DAILYHUNT - FUNDING AND INVESTORS:
Dailyhunt has witnessed more than $430 mn in funding over 14+ funding rounds
from a range of investors including Qatar Investment, Falcon Edge, Google,
Microsoft, ByteDance, Goldman Sachs and others.

Dailyhunt and JJosh'sparent, Verse Innovation raised a relatively large funding

round on April 6, 2022, which infused $805 mn into the company, led by the
Canada Pension Plan Investment Board (CPP Investments), where CPP alone put
$425 mn worth of funds. As of the latest reports, the Dailyhunt parent is
currently valued at around $5 bn.

Date Stage Amount Lead Investors

$100
February 2021 Series H Qatar Investment Authority and others
million
December $100 Google, Microsoft and Falcon Edge’s Alpha Wave
Series H
2020 Million Incubation
November
- $10 Million) B Capital Group
2020
$35.6
May 2020 Series G Lupa India, ByteDance, Goldman Sachs
million
$23.5
April 2020 Series G Falcon Edge Capital, ByteDance
million
November Secondary
- ByteDance
2019 Market
August 2019 Series F $3 million Goldman Sachs
May 2019 Series F $22 million Sofina
₹24.61 Omidyar Network, Sequoia Capital, Renu Sehgal
January 2019 Series E
crore Trust
January 2019 Venture Round - Equip Capital
September
Series E $6 million Falcon Edge Capital
2018
October 2016 Series D $25 million ByteDance
February 2015 Series C $40 million Falcon Capital
September ₹100
Series B Sequoia Capital India
2014 million

Bytedance has reportedly exited Dailyhunt parent, VerSe Innovation's cap table
at a discount of 56%, as of June 4, 2022. The exit of the Chinese investor was
confirmed earlier in June 2022, by VerSe. With the exit of the Tiktok owner,
Bytedance, VerSe Innovation has now proclaimed that they are one of the few
unicorn companies in India with 0% Chinese holding.
Bytedance has reportedly sold its stake in VerSe with the help of a secondary
deal to existing investors, including the Ontario Teachers’ Pension Plan (OTPP)
and the Canada Pension Plan Investment Board (CPPIB).

• DAILYHUNT - MERGERS & ACQUISITIONS:

Dailyhunt's parent organization VerSe Innovation acquired India-based Vebbler,
a community-focused application for sharing photos and videos on 10th March
2021.
On 23rd February 2021, VerSe Innovation also acquired Bengaluru-based AI
solutions provider, Cognirel Technologies Pvt. Ltd.
In June 2019, the startup acquired hyperlocal video content and news content
application LocalPlay, which will help the site stream video content in smaller
towns. This deal will also enable the local businessmen to advertise on the
platform to target consumers in their area.
In July 2015, Dailyhunt acquired Buyt.In, a search engine that enables its users
to discover, compare, and purchase products from a range of e-commerce
portals.
The most prominent acquisitions of Dailyhunt are listed as:
Acquiree Name Acquired Date Price
Vebbler March 10, 2021 -
Cognirel Feb 23, 2021 -
LocalPlay June 20, 2019 -
Buyt.in July 15, 2015 -

• DAILYHUNT – PARTNERSHIP:
Twitter collaborated with Dailyhunt to bring Moments to the Indian vernacular
news and content aggregating app, as per the reports on February 8, 2021.
Dailyhunt currently has a dedicated section "Twitter Moments" where Dailyhunt
users can find curated tweets containing news and other events.
In December 2020, Dailyhunt announced its partnership with Mzaalo. This will
allow Dailyhunt users to get access to Mzaalo's content and also earn a reward
point. These points can later be redeemed to purchase products/services of
brands in the Mzaalo app.
 • DAILYHUNT – GROWTH :
In July 2018, Dailyhunt added over 12 million net new monthly active users, and
in August, it beat the previous month’s performance with the addition of 15
million new monthly active users. Total monthly users on all platforms
(Dailyhunt and OneIndia) put together, when reported in September 2018, was
138 million+, of which Dailyhunt accounted for 100 million+. Moreover, the time
spent per daily active user is over 27 minutes per person per day, as reported at
the end of 2018.
Dailyhunt has grown to serve over 350 million users every month and its short
video platform, Josh claims to grow its monthly active users (MAUs) to 139
million, and its daily active users (DAUs) to 68 million, as of January 20, 2022
reports. The Verse Innovation news aggregating platform Dailyhunt has turned
out to be one of the leading news-providing platforms and has grown 8X bigger
than its nearest rival InShorts.

• DAILYHUNT – COMPETITORS:
Though Dailyhunt was one of the early entrants in the market, today it faces
strong competition in the market. There are a lot of applications with different
USPs running for the first position in the market. Inshorts directly competes
with Dailyhunt in the news aggregation space along with the other applications
of:
➢ Newsstand
➢ Business Insider
➢ FirstPost
➢ NDTV
➢ Dainik Bhaskar
On the other hand, the short video application of Dailyhunt, Josh competes
with-
➢ Moj by ShareChat
➢ MX TakaTak
➢ YouTube Shorts
 EMCURE PHARMACEUTICAL

The industry of pharmaceutical is considered to be the most desired and

flourishing industry today. It is responsible for the majority of the country's
contribution to the economy.
The business of pharma is a serious one, as they are constantly under the
scanner to produce quality medicines. The government does not want to
compromise on health, which is why they have to be careful in the way they do
their business.
Technology and innovation seem to have been incorporated rightly into these
companies allowing them the freedom to develop various medications. These
startup companies are in a lucrative area that requires a lot of innovation and
continuous research every day to come up with new medicines.
Emcure Pharmaceuticals is an Indian global pharmaceutical company that
manufactures tablets, capsules, and injectables.

• EMCURE PHARMACEUTICALS – ABOUT:

Founded about 42 years ago, in 1981, Emcure Pharmaceuticals is now among
the top 12 pharma companies in India that engage in the manufacturing of a
variety of pharmaceutical products globally.
With five research and development centres spread across 70 countries, Emcure
has a strong presence in all major therapeutic areas including Gynaecology,
cardiology, blood-related, oncology, respiratory, CNS & HIV among others.
The company has also taken the initiative to launch 6 biosimilars in the
Domestic Market & RoW markets & they are the domestic leader in three
biologics.
During the Covid-19 pandemic, the company founded its subsidiary, Gennova,
which is creating India's first indigenous mRNA vaccine to combat the virus.
Emcure has around 350+ brands with 14 manufacturing facilities established
across the country. The company boasts of cutting-edge technology and API
facilities that ensure its supply chain works flexibly to have control over
manufacturing.

• EMCURE PHARMACEUTICALS – INDUSTRY:

The pharmaceutical industry in India is the world's 3rd largest by volume and
14th largest in terms of value. Without a doubt, Emcure belongs to the
pharmaceutical industry.
According to sources, Indian pharma companies play a key part in the country's
foreign trade with attractive avenues and opportunities for investors. It is also
reported that the Indian pharma market contributes 57% of APIs to prequalified
list of WHO.

• EMCURE PHARMACEUTICALS - FOUNDER AND TEAM:

The company was started by Satish Ramanlal Mehta in the year 1981.

• SATISH RAMANLAL MEHTA

Satish Mehta is the founder of Emcure pharmaceuticals and also serves as the
CEO and MD of the company. He is a postgraduate in Chemistry from Pune
University and has a diploma in management from the IIM, Ahmedabad.
Satish Mehta has strong leadership qualities due to which, his company Emcure
has become a well-respected company in the global pharma market in more
than 70 countries with its key subsidiaries in the UK, Canada, Singapore, Brazil,
and others.
He has also served as a member of the Committee to recommend / frame Rules
under the Indian Institutes of Management Act, 2017 – Ministry of HRD
(Government of India), Economic & Commercial Consultative Group (ECCG) –
NITI Aayog (Government of India), and India-China Bilateral Council – NITI Aayog
(Government of India).
In 2016, Satish Mehta was ranked on the Forbes Rich List as the 82nd richest
Indian with a net worth of $1.6 billion.

• NAMITA THAPAR
Namita Thapar is the Executive Director of Emcure Pharmaceuticals' India
business. She is an MBA graduate from the Fuqua School of Business and a
Chartered Accountant from the ICAI.

She joined the company as CFO, and her responsibilities grew over time to
include managing the company's largest business unit, its India business. Namita
is extremely passionate about improving women’s health in India and is also a
great promoter of youth entrepreneurship in India.
Namita Thapar is also an avid investor, and her support for Indian startups can
be seen on the show Shark Tank India, where she has served as a prominent
shark.

• SUNIL MEHTA
Sunil Mehta is the Executive Director, Projects at Emcure Pharmaceuticals. He is
a graduate of Commerce from Pune University and a postgraduate in Business
Administration from the Institute of Management Development and Research,
Pune.
Sunil also serves on the board of Gennova Biopharmaceuticals Ltd., a prominent
subsidiary of Emcure Pharmaceuticals.

• EMCURE PHARMACEUTICALS - MISSION AND VISION :

The company's vision is mostly about providing quality healthcare solutions
globally through maximum technological and innovative scientific techniques.
Emcure likes to work with integrity, deliver quality and patient-focused results,
and has strong teamwork and respect among each other.
Here is what Satish Mehta has to say about the company:
“Since inception, Emcure has focused on introducing differentiated products
backed by cutting-edge research & development and innovative manufacturing
solutions. We continue to work towards our aim of constantly innovating,
partnering with local and multi-national, delivering affordable & high-quality
healthcare solutions to people and enabling them to lead healthier lives. It’s our
conviction that Science will prevail!”

• EMCURE PHARMACEUTICALS - BUSINESS MODEL :

Emcure has a presence in 70 countries across the world. The company is mostly
engaged in developing, manufacturing, and marketing a broad range of
pharmaceutical products across the globe. They have 11,000+ employees with
400+ located in other countries.
In India, Emcure's business continues to play a key role in the market today
constituting about 41% of the turnover.
Its main offerings are:
a. Biologics
b. Active Pharmaceutical Ingredients (APIs)
c. Vaccines for Covid-19
d. Formulations
Emcure has a strong presence of 4,600 professional doctors with specialisations
that have led the company to dominate the Indian market. Besides this, they
have become one of the market leaders in therapy areas.
Emcure has waste management and environment protection systems installed
at every manufacturing plant to comply with the laws of the environment. They
also perform regular audits to keep updates about their operations to ensure
ethical activities and compliance.
 • EMCURE PHARMACEUTICALS – REVENUE :

As the company focuses more on chronic and sub-chronic therapies in India,

they mostly get its domestic revenue from these areas, which is about 64.75%
of its revenue. The therapeutic areas are gynaecology, cardiac, dermatology,
anti-infectives, anti-retroviral, gastrointestinal, respiratory, oncology,
cardiovascular, pain and vitamins. In FY21, Emcure Pharmaceuticals' revenue
was Rs 6,091.8 crore.
The company also claims that there has been 20% growth over the previous
year, and the primary growth was through Domestic and international markets
especially RoW (Rest of the world) and Canada.

• EMCURE PHARMACEUTICALS – SUBSIDIARIES :

Below is the list of Emcure Pharmaceuticals subsidiaries:
➢ Gennova Biopharmaceuticals Ltd.
➢ Zuventus Healthcare Ltd
➢ Emcure Nigeria Limited
➢ Emcure Pharmaceuticals Mena FZ-LLC
➢ Emcure Pharmaceuticals South Africa (Pty) Limited
➢ Emcure Brasil Farmaceutica Ltda
➢ Heritage Pharma Holdings Inc. d/b/a Avet Pharmaceuticals Holdings Inc.
 ➢ Emcure Pharma UK Ltd
➢ Emcure Pharma Peru S.A.C
➢ Emcure Pharma Mexico S.A. DE C.V
➢ Marcan Pharmaceuticals Inc
➢ Emcure Pharmaceuticals Pty Ltd

• EMCURE PHARMACEUTICALS - FUNDING AND

INVESTORS :
With 20% growth from the previous year, the company is now planning to raise
Rs 4,500 - 5,000 crore through IPO.
Private company Bain Capital has a 13.09% stake in the company and will sell
99.5 lakhs, while other shareholders will sell 22 lakh shares.

• EMCURE PHARMACEUTICALS - AWARDS AND

ACHIEVEMENTS :
Emcure Pharmaceutical sure knows how to do business, and by producing about
350+ brands under its manufacturing, the company has won many awards.
➢ 2018
- Instgra - Best New Introduction of the Year Silver Award by AWACS (21-50-
Chronic & Sub Chronic Category).
- Orofer XT - Brand of the year award for Marketing Excellence - Gold Award
by AWACS.
- Emluz - Best New Introduction of the Year Gold Award by AWACS.
- Best Indian Patents Award 2017-18 (Highest Number of granted patents)
by Indian Drug Manufacturers Association.
- National Safety Council – Maharashtra Safety Award – 2018 for Zero
Accident.
➢ 2019
- Brand of the year award for Marketing Excellence -Bronze Award by
AWACS Orofer-XT.
- Best API Patents Award 2018-19 (Highest Number of API patents) by the
Indian Drug Manufacturers Association.
 - Process Development and Commercialization award 2019 for the
development of Tenectase, a 3rd generation thrombolytic glycoprotein for
acute ischemic stroke (AIS).
- DISH-Narayan Meghaji Lokhande Health & Safety Award 2019 – Industrial
Best Practices.
➢ 2020
- Pronto Consult Consumer Award - Platinum Impact Award Vylda.
➢ 2021
- Exafib - CIMS Medica Healthcare Excellence Award 2021 – Emerging Brand
of the Year (Cardiac Care).
- CIMS Medica Healthcare Excellence Award 2021 – Most Engaging Scientific
Platform from Pharma Company.
- Pronto Consult Consumer Award –Golden Impact Award Ferium 500 Inj.
- Emcure Pharmaceuticals - Challenges Faced

The pharmaceutical sector is expanding by creating opportunities for

differentiated product varieties. With the rise in drug usage, there are a lot of
other pharma manufacturers which pose a challenge for Emcure
Pharmaceuticals.
The constant changes in international pharmaceuticals and the regulations
associated with it affect the company because the majority of revenue comes
from the global market.
The uncertainties of Covid-19 are also a challenge for the company's covid
vaccines which are under process and are likely to affect the trial phase.
A few reports suggest that companies like Supriya Lifesciences, and Vijaya
Diagnostic Centre among others are also planning to launch their IPO during the
same time and this might affect Emcure.

• EMCURE PHARMACEUTICALS – COMPETITORS :

As mentioned due to the wide options in the pharmaceutical companies,
Emcure Pharmaceuticals has tough competitors that could affect their sales
growth.
Emcure Pharmaceutical competes with the following companies:
 ▪ Sun Pharma
▪ Abbott India
▪ Dr. Reddy’s Laboratories
▪ Biocon Limited
▪ Cipla
▪ Torrent Pharmaceuticals
▪ Alkem Laboratories
▪ Intas Pharmaceuticals
▪ Natco Pharma
▪ Amneal Pharmaceuticals
▪ Supriya Lifesciences
• EMCURE PHARMACEUTICALS - FUTURE PLANS :
Sticking to their tagline, "Success through innovation", the company's
subsidiary, Gennova Biopharmaceuticals, was working on an mRNA vaccine for
Covid-19 as of 2021.
The company has huge plans to grow its biosimilars and vaccines.
Here's what the CEO of Emcure has to say,
"In a challenging year, we have posted strong 20% growth in revenues, doing
well across businesses and also fulfilling our social responsibility in the ongoing
pandemic"
 URBAN COMPANY

• URBAN COMPANY- ABOUT :

The company, found in November 2014, is a home services company. The Urban
Company came into existence to connect the local services with technology. It
enables the customers to get their required services at home. Urban Company is
an all-in-one platform that helps users hire premium service professionals, from
beauticians and masseurs to sofa cleaners, carpenters and technicians. Since
inception, Urban Company (which began as UrbanClap) has built a network of
25,000+ trained service professionals, and served over 5 million customers
across major metropolitan cities of India, Dubai, Abu Dhabi, Sydney and
Singapore. The company has set up over 25 training centers across India and has
about 100 trainers who train their professionals. They have also signed an MoU
with the NSDC to mobilise, train and certify service professionals across India.
▪ Legal name : UrbanClap Technologies India Pvt. Ltd.
▪ Headquarters : New Delhi, Delhi, India
▪ Business Model : B2C, B2B
▪ No. of Employees : 1000+
▪ Core Team : 1.Abhiraj Singh Bhal Co-Founder
2.Raghav Chandra Co-Founder
3.Varun Khaitan Co-Founder
 • FOUNDERS AND TEAM :
The masterminds behind this startup are Varun Khaitan, Abhiraj Bhal and,
Raghav Chandra. They co-founded the company with an early-stage budget of
10 lacs.
• Varun Khaitan
Varun Khaitan is an IIT Kanpur alumnus, who completed his Btech in Electrical
Engineering and then went on to join Qualcomm as an Engineer. Leaving
Qualcomm Khaitan joined The Boston Consulting Group, where he served as an
Associate and a Consultant. After serving the role for more than 2 and half
years, Khaitan left the company and started up with Urban Company.
• Abhiraj Singh Bhal
Abhiraj Bhal is another co-founder of Urban Company. Bhal also has a
background in Engineering, and that too in Electrical Engineering from IIT
Kanpur, much like the previous co-founder. After completing his graduation
Abhiraj opted for an MBA in Business Administration from IIM Ahmedabad. He
first joined as a Consultant at The Boston Consulting Group, where he served
the role of Consultant for 3 years after quitting which he co-founded Urban
Company.

• Raghav Chandra
Raghav Chandra, another co-founder of Urban Company, has served as a
Software Engineer at Twitter before founding Urban Company, teaming with
the other co-founders. Raghav has also founded another company Buggi in the
interim. Raghav has interned in a series of companies including Roamware,
Infosys SETLabs, UC Berkeley and Yelp Inc. after completing BS in Computer
Science and Engineering from the University of California, Berkeley.

• URBAN COMPANY– REVENUE MODEL :

Urban Company generates revenue by taking a commission on each transaction
made on the platform. The commission rate varies depending on the service
category and location. The company also offers value-added services, such as
training and technology tools, to service providers for a fee.
Overall, Urban Company’s business model is based on creating a seamless and
efficient marketplace that connects customers with local service providers and
ensures quality and reliability of the services offered. The company’s success
depends on building a strong network of service providers, providing excellent
customer service, and continuously innovating to stay ahead of the competition.

• BUSINESS MODEL OF URBAN COMPANY :

The Urban Company has a straightforward and simple business model. This is to
connect the customers with their required services at home. The company helps
you to bring in beauticians, fitness trainers, educators, electricians, plumbers,
photographers, and many more.
It is a full-stack startup that uses algorithms for automated matchmaking. To
make the platform more trustworthy, the company ensures public safety. The
company performs the background checks and also police verification of all the
service providers.
The Urban Company is growing and gaining customers’ trust with its two-fold
business model.

• THE TWO-FOLD MODEL OF URBAN COMPANY :

The Urban Company works on a two-fold model. This involves:
➢ Services with Fixed Charge
Whenever, a person uses the services of hiring a beautician, cleaner, or
anything, they get charged from the app. It means they pay for the availed
services through the app.
In this way, the company takes a fixed commission from this revenue.
➢ Services without the Fixed Charges
There is a lead generation and sponsored listing. For this, the company charges
the experts. The company makes sure that the users do not have to pay till they
are satisfied with the services.
There is a process. In this, at first, the service providers have to pay a fee to
accept the customer's request. If the professional can satisfy the user and get
paid for the services then the monetization will be worth it.
Therefore, the urban company has created a successful business model for
itself. It has begun to use the technology of Artificial Intelligence and Machine
Learning. This helps the app to discover data insights and patterns of the users.
This after all helps the company to know its customer’s needs better.

• OPERATING AREAS :
The Urban Company founded in 2014, is the largest at-home services company
in India and UAE. The company operates in Dubai, Abu Dhabi, Sydney,
Singapore, and in fourteen cities of India.

• SERVICES AND AUDIENCE :

The Urban Company provides almost 100 services now. These include beauty,
grooming, cleaning, repairs, home educators, fitness trainers, and many more.
This new-age startup has a solution for almost all our services with one click.
These various services have enabled the company to have a broad audience
overall.
The main idea of the startup was to enable people to hire any service from the
comfort of their homes. Indeed it is doing a great job doing it and has shown
amazing growth alongside. The Urban Company has made a big name for itself
in the service industry. It has developed an amazing amount of reliability among
the customers.
By looking at all this, a few questions come to our minds. For example- How a
startup that started with mere 10 lacs could grow so much? In this uncertain
era, how are people even trusting the platform?
All such questions have a simple answer. It is the company’s simple yet super
effective business model backed by huge investments.
The company has presently launched another service where it would be offering
free medical consultation, focusing on the hair and skin problems of the
women. As per the reports dated January 21, 2022, Urban Company has already
onboarded some dermatologists to piloy free medical counselling in a few
Indian cities. Renowned cosmologist Dr Amit Karkhanis has been roped in by
Urban Company to head its medical team.

• HOW DOES URBAN COMPANY MAKE MONEY ?

There are three ways of how the company generates its money:
➢ Commissions
The users hire the service providers from the app. When they utilize the
services, they pay for them. From this payment, the company gets a
commission.
➢ Reverse auction
In this, a particular service provider asks the company for its promotion on the
platform. In exchange for the promotion urban company charges money from
the service provider.
➢ Ads or Commercials
Various big businesses, manufacturers run their ads on the company’s platform.
The company thus gets a fee in exchange for this.

• INVESTORS AND FUNDING OF URBAN COMPANY :

Urban Company has received significant funding from several high-profile
investors since its inception in 2014. Here are some of the key investors and
funding rounds that Urban Company has raised to date:

▪ Series A: In 2015, Urban Company raised $10 million in a Series A funding

round led by SAIF Partners, with participation from Accel Partners and
Kunal Bahl and Rohit Bansal, the co-founders of Snapdeal.
▪ Series B: In 2016, Urban Company raised $25 million in a Series B funding
round led by Bessemer Venture Partners, with participation from existing
investors SAIF Partners, Accel Partners, and Snapdeal founders.
▪ Series C: In 2017, Urban Company raised $21 million in a Series C funding
round led by Vy Capital, with participation from existing investors.
 ▪ Series D: In 2018, Urban Company raised $50 million in a Series D funding
round led by Steadview Capital, with participation from existing investors.
▪ Series E: In 2019, Urban Company raised $75 million in a Series E funding
round led by Tiger Global, with participation from existing investors.
▪ Series F: In 2020, Urban Company raised $50 million in a Series F funding
round led by Steadview Capital, with participation from Vy Capital,
Elevation Capital, and Tiger Global.
▪ Series G: In 2021, Urban Company raised $255 million in a Series G funding
round led by Prosus Ventures, with participation from DF International
Partners, Wellington Management, and others.
Urban Company raises $190 million, joins unicorn club as valuation jumps to $2
billion
Overall, Urban Company has raised over $440 million in funding from investors,
including Sequoia Capital, Vy Capital, Elevation Capital, and others. The funding
has allowed Urban Company to expand its services, enter new markets, and
invest in technology and product development. The company is considered one
of the most valuable startups in India, with a reported valuation of over $2
billion.

• GROWTH AND REVENUE OF URBAN COMPANY :

Urban Company has experienced strong revenue growth since its inception in
2014. The company has reported steady increases in revenue, driven by
expansion into new markets, the addition of new services, and increased
adoption of its platform by customers and service providers.

Here are some key revenue and growth milestones for Urban Company:

1. In FY2016-17, Urban Company reported revenue of INR 47 crore

(approximately $6.4 million USD).
2. In FY2017-18, the company reported revenue of INR 116 crore
(approximately $15.7 million USD), representing a year-over-year growth
rate of over 140%.
3. In FY2018-19, Urban Company reported revenue of INR 216 crore
(approximately $29.3 million USD), representing a year-over-year growth
rate of over 85%.
4. In FY2019-20, the company reported revenue of INR 376 crore
(approximately $51 million USD), representing a year-over-year growth
rate of over 74%.
 5. In FY2020-21, despite the impact of the COVID-19 pandemic, Urban
Company reported revenue of INR 263 crore (approximately $36 million
USD), representing a year-over-year growth rate of over 22%.

As of March 2021, Urban Company had over 35,000 service professionals on its
platform, serving more than 5 million customers across India, the UAE,
Singapore, and Australia.

Overall, Urban Company’s revenue growth has been driven by a combination of

factors, including the expansion of its services, geographic reach, and customer
base. The company’s ability to attract and retain service providers, as well as its
focus on customer satisfaction and experience, have also contributed to its
success. The company’s recent fundraising rounds suggest that investors have
confidence in Urban Company’s growth potential and its ability to continue
scaling its business.

• COMPETITORS OF URBAN COMPANY:

- Quikr services

- Concord services

- House joy

- Zimmber

- Vijay home services

- Near.in
 • MARKETING STRATEGY OF URBANCLAP :
a. Facebook ads
When an online service provider wants to bring more users to its platform, it
should market on a digital platform that has the most number of users.
Facebook is a social media platform that serves the purpose of UrbanClap.

Moreover, Facebook has over 290 million users in India alone. It makes India the
leading country in terms of Facebook audience size. So by running Facebook
ads, UrbanClap is increasing its audience reach and creating awareness for its
online platform.

b. Google Ads
Urban clap is also using another platform in its digital marketing strategy to
attract customers. UrbanClap runs Google ads which are brief advertisements
where the advertisers bid to display their brand ads to web users.

c. Influencer Marketing
There’s a thing about services that when it comes as a suggestion to the
customers they become more confident to choose one. Customers are much
more skeptical before choosing a service because they want to have a good
experience with the service.

So, without some good influence, the customers remain hesitant to try one.
UrbanClap uses influencer marketing to make its brand more authentic and
trustworthy.

Many influencers and celebrities on their social media platforms suggest their
niche follower base to try UrbanClap by highlighting their professionals’ skills
and service delivery. Many popular Television celebrities like Gauhar Khan, Hina
Khan, and Shweta Tiwari promote the #salonspree by UrbanClap. Actors like
Pratik Gandhi and Sharad Kelkar promote the Urban Company Man, a grooming
service for men.
 d. TV commercials

T.V commercials are the best way of pitching Indian audiences because we
Indian love sitting in front of our idiot boxes. Urban Clap runs various television
commercials featuring some popular Bollywood actors.

e. Sponsorships and Partnerships

Brand Partnerships and sponsorships make a brand stronger and increase its
value. UrbanClap’s female user base is large in number as compared to male
users. So, the brand made a strategic partnership and partnered with The Man
Company to launch its premium grooming services for men. With this
partnership, they aimed to pitch male customers.

• PRICING STRATEGY
- Fixed Charged Services

For plumbing, electrical work for home maintenance, the organization accepts
the money from the app and then charges its dues to the hired assistance.They
cut a different fee off the collected funds.

- Services Without Any Fixed Charges

The company is paying lead generation and funding listing to the experts.The
customers are not charged right away. They know the operation. The specialist
shall pay a fee for approving the order. If the expert is able to persuade the
customer to purchase the service, then monetizing is a success.

Five options are given to the user from which to choose the most comfortable
choice. If the service provider’s profile is not shown, he earns payable credit. If
the algorithm is successful, then less work must be performed by the user.

• FUTURE OF URBAN COMPANY :

The future of Urban Company looks promising, as the company has shown
steady growth and continues to expand its services and geographic reach. Here
are some factors that could shape the future of Urban Company:
a. Expansion into new markets: Urban Company has already expanded its
services beyond India to the UAE, Singapore, and Australia. In the future, the
company may continue to explore new markets and expand its services to new
regions, as there is significant demand for home services globally.

b. Introduction of new services: Urban Company has already diversified its

services to include a wide range of home services, from beauty and wellness to
appliance repair and pest control. In the future, the company may continue to
add new services to its platform, based on customer demand and market
trends.

c. Investments in technology and AI: Urban Company has already invested

in technology to improve the user experience on its platform and to streamline
operations for its service providers. In the future, the company may continue to
invest in technology, including artificial intelligence and machine learning, to
further optimize its services and improve its efficiency.

d. Strategic partnerships and collaborations: Urban Company has already

partnered with a number of other companies and brands to offer bundled
services and promotions to customers. In the future, the company may continue
to pursue strategic partnerships and collaborations to expand its reach and offer
new services to customers.

e. Focus on sustainability: With increasing awareness around sustainability

and the environment, Urban Company may also focus on integrating sustainable
practices into its business model. This could include initiatives around reducing
waste, using eco-friendly products, and promoting energy-efficient appliances.

Overall, the future of Urban Company looks bright, as the company continues to
innovate and expand its services to meet the needs of customers around the
world. With strong investor support, a talented team, and a focus on customer
satisfaction and experience, Urban Company is well-positioned for continued
success.
 FIRST CRY

• FIRSTCRY- ABOUT :
FirstCry is an online-cum-offline brand providing a wide range of products for
babies, kids, and moms. The startup was born out of a desire to solve the
problem of millions of parents in India not having access to the best brands and
baby care products for their offspring. The product categories at firstcry.com
comprise diapering, feeding and nursing, skin and health care, toys, clothes,
footwear, fashion accessories, and much more.
Firstcry.com has a product inventory of more than 90,000 items from around
1200 international and Indian brands. Mattel, Ben10, Pigeon, Funskool,
Hotwheels, Nuby, Farlin, Medela, Pampers, Disney, Barbie, Gerber, and Fisher
Price are some of them.
The company provides the best products and brands at reasonable prices
complemented by quality online shopping experience, fast and reliable delivery
service, and prompt customer care.

• FIRSTCRY - STARTUP STORY:

The seeds were sown in 2010 when the options for buying baby care and kids'
products online were extremely limited in India. Supam, the co-founder and
owner of FirstCry, would buy things for his son from the countries he visited for
business trips. The situation made him realize the huge opportunity for an
online platform in the Indian market that would give Indian parents access to
the best baby care brands from across the globe. This is how Supam
Maheshwari and Amitava Saha started FirstCry.
FirstCry initially was following an inventory-based model wherein the venture
was just shipping products across the country from its warehouses in Pune,
Delhi, Bangalore, and Kolkata. After a few years, FirstCry started adding retailers
to its platform and presented an opportunity for local retailers to sell their
products on its website.
The company also has two private labels called BabyHug, which is into apparel
for babies and kids, and CuteWalk, a footwear brand. FirstCry is now one of the
largest online shopping platforms for kids and has over 350 franchised brick-
and-mortar shops in more than 125 Indian cities.

• FIRSTCRY - FOUNDERS/OWNERS AND TEAM :

FirstCry was founded by Supam Maheshwari and Amitava Saha.

Supam Maheshwari, the brilliant mind behind FirstCry, serves as its CEO and co-
founder. An alumnus of IIM Ahmedabad and a graduate in engineering from
Delhi College of Engineering, he stands as a testament to first-generation
entrepreneurs who dare to dream big. Supam’s entrepreneurial journey doesn’t
stop there; he is also the co-founder of XpressBees, a prominent logistics giant
in India. Prior to venturing into the world of baby care products, Supam played a
pivotal role as the co-founder and CEO of Brainvisa Technologies, one of India’s
most significant e-learning ventures.

Joining forces with Supam is the accomplished COO and co-founder of FirstCry,
Amitava Saha. Amitava holds a master’s degree from IIM Lucknow and a B.Tech
from IIT Varanasi, showcasing his exceptional educational background. Notably,
Amitava previously collaborated with Supam during the launch of XpressBees,
another groundbreaking enterprise. Their partnership proved to be a success,
which eventually led them to embark on yet another exciting venture—FirstCry.
Today, FirstCry stands tall as India’s finest online platform for a comprehensive
range of baby care products, thanks to the relentless efforts and innovative
thinking of its co-founders, Supam Maheshwari and Amitava Saha.
In the year 2010, a visionary concept began to take root when Supam
Maheshwari, the co-founder and proprietor of FirstCry, faced the challenge of
limited options for purchasing baby care and kids’ products online in India.
Determined to provide the best for his own child, Supam resorted to buying
items from foreign countries during his business trips. This experience opened
his eyes to a tremendous opportunity—an online platform that could grant
Indian parents access to the finest global baby care brands. With this revelation,
Supam Maheshwari and Amitava Saha embarked on their journey, giving birth
to the revolutionary venture known as FirstCry.

• FIRSTCRY - BUSINESS MODEL AND REVENUE MODEL :

FirstCry works on an integrated hybrid business model which includes online
platforms and offline stores. Apart from its massive online presence, the
company also has over 400 stores including 350 franchise stores across India.
FirstCry runs a unique program through which it reaches over 70,000 parents
each month by giving out a 'FirstCry Box'.
This program gives free gift boxes to new parents across 6,000 hospitals in the
country as a token of congratulations on the birth of their child. The box
contains basic necessities like diapers, baby lotion, baby oil, etc. from leading
brands such as Mamy Poko and Libero. FirstCry has reached out to millions of
parents across India through this initiative to date.

• FIRSTCRY - STARTUP CHALLENGES :

The baby care segment in India is huge and promising. But the challenge lies in
the fact that the market is really unorganized.
Like any other business, staying relevant for consumers is imperative. Hence,
the FirstCry team has to work on its toes to launch innovative and exciting
strategies for its consumers.
 • FIRSTCRY - VALUATION :
FirstCry was last valued at $1.9 billion and is one of India’s unicorns. It must be
noted that the estimated value is based on projections made by FirstCry and
there is no new valuation report corroborating the unicorn claims. Firstcry has
raised $13 Mn (INR 95 Cr) in an equity funding round from pi Ventures through
its opportunity fund I. TPG, ChrysCapital and Premji Invest - has invested around
$315 million in Firstcry, valuing the baby products company at around $1.9
billion.

• FIRSTCRY – FUNDING AND INVESTORS

Date Stage Amount Investor
Secondary TPG, ChrysCapital and Premji
March 2021 $300 million
Market Invest
Venture
March 2021 $13 million Premji Invest
Round
February 2020 Series E $150 million SoftBank Vision Fund
January 2019 Series E $150 million SoftBank Vision Fund
Venture Vertex Ventures, Mahindra
October 2016 $34 million
Round Group
February 2016 Series D $26 million Valiant Capital Partners
April 2015 Series D $10 million Valiant Capital Partners, NEA
February 2015 Series D $26 million Valiant Capital Partners
January 2014 Series C $15 million Vertex Ventures
Chiratae Ventures, IDG
February 2012 Series B $14 million
Ventures India
April 2011 Series A $4 million SAIF Partners

As for funding, FirstCry has successfully raised a remarkable total of $741.4

million over ten rounds. The latest funding milestone of $313 million was
achieved on March 30, 2021, courtesy of a secondary market and venture
rounds. An instrumental funding round worth $296 million, led by Softbank in
February 2020, earned FirstCry the coveted title of a unicorn, recognising its
status as a high-value kid and baby product marketplace.
 • FIRSTCRY - INNOVATION AND GROWTH :
To further enhance its offerings, FirstCry introduced two private labels, namely
BabyHug, specializing in premium apparel for babies and kids, and CuteWalk, a
brand dedicated to high-quality footwear. These additions enriched the diverse
selection available on the platform, establishing FirstCry as a dominant force in
the world of online shopping for kids.

• FIRSTCRY - FUTURE PLANS :

Running high on its expansion spree, kids & baby care products retailer,
Firstcry.com, now plans to increase its retail outlets from 150 to 700 in the
coming 3-4 years.
Commenting on the same, Supam Maheshwari, CEO, FirstCry.com said, “We
already have 150 stores in 85 cities and will be adding another 100 stores this
year. These would be both, additional stores in cities where we are already
present, as well as new stores in Tier III and Tier IV towns.”
Though the trend of buying online is increasing exponentially, tradition offline
retail still remains the most preferred option for a large chunk of people.
Following this trend, the company is also planning to add 200 global brands to
its portfolio by the end of this year. It will also push its Babyhug brand overseas.
“We currently have about 17,000 products in the Babyhug range and will
continue to add more to add depth to the different categories,” said
Maheshwari.
Firstcry initially started reaching out to its potential customer via the
eCommerce route and has recently revamped its loyalty programme in a way
that customers could earn points on both online and offline (in-store) purchases
and redeem them on either platform.
"We will continue to scale up this programme and double the number of
hospitals we reach, from 7000 at present, over the next two years - or go from
100,000 moms a month to 200,000 moms a month," said Maheshwari.
He added that he expected the business to grow at a minimum of 100 per cent
year-on-year for the next two years.
In 2015, the company raised $36 million from New Enterprise Associates,
Valiant Capital, IDG Ventures India, Ventex Venture Holdings and SAIF Partners.
The overall baby care market in India is around $12 billion of which less than 5%
is estimated to be online.
 • FIRSTCRY - MARKETING STRATEGY :

One of the key factors towards the success of any business these days,
especially those in the e-commerce industry, is of course social media. And after
8 years in the industry, this brand has certainly learned this.
The brand has a presence on Facebook, Instagram, YouTube and Twitter. They
have 710k likes on their Facebook page, 8.7k followers on Instagram, 3.7k
subscribers on YouTube and 3.7k followers on Twitter.
Since Facebook is the main social media platform, it is where they have their
highest engagement rate. They often hold frequent contests here and post
consistently. They don’t very often repost from other bloggers on their
Facebook page.

In order to truly make their presence felt on the social media platform,the
brand has adopted a few strategies, like making use of certain campaigns like
#ItsAMomsWorld along with offers and other contest posts. Their signature
hashtag revolves around mothers dressing up, posing with ‘cool props’ and
taking a picture with a ‘Super Mom’ at any one of their stores. By uploading this
picture on Facebook along with the hashtag #ItsAMomsWorld, they stand a
chance of winning free shopping worth Rs 1,00,000.
At the same time, FirstCry’s Instagram isn’t all that great. They don’t post very
often. As of May 2017, their last post was on 24th January the same year. They
post only about offers and have very poor engagement.
On YouTube, the brand mainly posts baby game videos and advertisements for
new baby products.

On FirstCry’s Twitter, they mainly post festivals. They are also able to manage
their customer feedback by responding to complaints quickly and promptly.
They post on their Twitter on a daily basis.
#Mompreneur is a social media campaign that our student has suggested for
the brand. It involves posting inspiring stories of women entrepreneurs who are
also mothers. Since the audience on Facebook consists 54% of women, this
could be an effective idea to cater to their following.
#SleepingBeauty is a campaign which targets fathers. It entails the unique
sleeping positions fathers have to adopt in order to ensure that both their infant
child and wife get a comfortable good night’s sleep. It can involve funny
creatives where the baby is in an odd position all over the bed while the father
is uncomfortable. This highlights the sacrifice of the father in order to give the
best to his child. This really does help with the engagement and brand
awareness in general!

• FIRSTCRY - COMPETITORS:
The main competitors are BabyCulture.in, MyBabyCart.com and Hopscotch.in.
- BabyCulture is headquartered in Haryana and caters not just to Indian
customers but to those in Europe, New Zealand and the United States of
America as well. They are the biggest competition at the moment.
- MyBabyCart was also founded in 2010. However, they are headquartered
in Bengaluru and cater only to Indian customers. Their marketing
campaigns are driven only towards moms, instead of towards both
parents like FirstCry’s advertisements.
- Hopscotch is the newest entrant in the niche and has a good-looking and
user-friendly website. Along with this, they also have an app and https
certification. However, their merchandise is extremely similar.
In comparison to its competition, FirstCry is doing a fabulous job of
commanding all market focus and attention onto itself.

• FIRSTCRY - TARGET AUDIENCE :

Those who buy these products are all parents between the ages of 25-35. They
love to shop online and want to provide the best for their child. They are
concerned about the quality of the product. The buyers may be working
mothers who do not have time to shop for their children at traditional stores,
homemakers who shop online due to the extensive range of products and
fathers who want to buy their children high-end items that they trust online.

• FISRTCRY – PRICING STRATEGY :

FirstCry com Fighting to Lead the Giant Online Baby Care Products Market
marketing mix focuses on a hybrid strategy for pricing to obtain maximum value
for its products. The marketing mix FirstCry com Fighting to Lead the Giant
Online Baby Care Products Market uses a combination of a number of
techniques for pricing its products, which are detailed below:
▪ PREMIUM PRICING

By using premium pricing for some of its product ranges, FirstCry com
Fighting to Lead the Giant Online Baby Care Products Market encourages
favorable brand and product perceptions in target consumer groups

Premium pricing for products also encourages a favorable quality

perception of FirstCry com Fighting to Lead the Giant Online Baby Care
Products Market products amongst consumers

With premium prices, FirstCry com Fighting to Lead the Giant Online Baby
Care Products Market has successfully also made some of its product
ranges exclusive by restricting sales and production. This, in turn, leads to
a perception g luxury in consumption products

Premium prices add a touch of privilege and high value in FirstCry com
Fighting to Lead the Giant Online Baby Care Products Market products

Using elements of premium prices in other product ranges has also

allowed FirstCry com Fighting to Lead the Giant Online Baby Care Products
Market to maintain significantly high profits and a consistent business
growth

▪ PSYCHOLOGICAL PRICING

Since FirstCry com Fighting to Lead the Giant Online Baby Care Products
Market has a number of different product ranges and product groups, the
use of psychological pricing has been beneficial

With the use of psychological pricing, FirstCry com Fighting to Lead the
Giant Online Baby Care Products Market also successfully adds more value
to its products from the point of view of customers

FirstCry com Fighting to Lead the Giant Online Baby Care Products Market
also gains higher sales with psychological pricing

Consumer purchase a higher amount of FirstCry com Fighting to Lead the

Giant Online Baby Care Products Market products because of its use of
psychological pricing
 FirstCry com Fighting to Lead the Giant Online Baby Care Products Market
is able to increase its target audience and broaden its target purchaser
groups

▪ GEOGRAPHICAL PRICING

FirstCry com Fighting to Lead the Giant Online Baby Care Products Market
is able to penetrate different regional markets optimally with the use of
geographical pricing

For offshore locations, geographical pricing also allows FirstCry com

Fighting to Lead the Giant Online Baby Care Products Market to cover
shipping and customs expenses

Geographical pricing also allows FirstCry com Fighting to Lead the Giant
Online Baby Care Products Market to maintain consistent revenue growth
by altering pricing in different markets based on local currency value
 QUIKR

• QUIKR – ABOUT :
An online e-commerce marketplace is a sort of e-commerce website where
different external parties supply products or services. The most common sort of
omnichannel e-commerce is online, which may help optimize the manufacturing
process.
In online markets, consumer purchases are handled by the marketplace
operator and then supplied and executed by partnering shops or wholesalers in
the online marketplace. These websites let customers register and sell anything
from a single item to a large number of goods for a "post-selling" charge.
Because marketplaces consolidate items from a variety of vendors, the
availability and selection are frequently greater than in vendor-specific online
retail storefronts.
Quikr is an example of an online marketplace. Pranay Chulet and Jiby Thomas
launched it in 2008 as a commercial advertising firm based in Bangalore, India.
Quikr includes listings for household products, jobs, mobile phones, real estate,
automobiles, and educational services in over 1000 Indian cities. Quikr is a free
advertising and online marketplace in India that allows individuals to sell, buy,
rent, and find anything and everything across the country.
Quikr is a free classified ad company and online marketplace in India that
allows users to sell, buy, rent, and find anything. People in the community can
use their website to find a flat, sell their old music systems, automobiles,
mobiles, laptops, or furniture, get an audience for a local event, advertise their
small business, find a tuition class, join a salsa class, get a break as a model or
actor, buy anything they want or have to offer, and make new friends while
doing so.
The company's goal is to keep incorporating turn-taking and noteworthy
features into your Quikr experience, whether it's QuikrNXT, which allows you to
buy and sell without jeopardizing your privacy, or the missed call service, which
allows Quikr to reach out to people who aren't currently online but will be.

• QUIKR - COMPANY HIGHLIGHTS :

▪ Startup Name - Quikr
▪ Earlier Name - Kijiji
▪ Headquarters - Bengaluru, Karnataka, India
▪ Industry - Marketplace, Advertising, Internet, Rental property, E-
commerce
▪ Founders - Pranay Chulet, and Jiby Thomas
▪ Founded - 2008
▪ Areas Served - Worldwide
▪ Current CEO - Pranay Chulet

• QUIKR – INDUSTRY:
In the year 2021, India's internet penetration rate will surpass 830 million,
accounting for more than 40% of the total population. Despite having the
world's second-largest customer base, behind only China, e-commerce
penetration is low in comparison to markets such as the United States and
France, but it is growing, with around 6 million new participants each month.
The general perception in the sector is that growth is nearing an important
milestone.
After a rough year due to the pandemic's breakout, Indian industries have seen
a v-shaped comeback in 2021. As a result, the Indian advertising sector saw a
comeback in ad spending, resulting in a market value of Rs. 70,715 crore, up
18.6% from 2020. According to the latest study, the industry is predicted to
reach Rs 93,119 crore by the end of 2023, rising at a rate of 14.75 percent.
Furthermore, the digital advertising sector grew by 35.3 percent from Rs 15,782
crore in 2020 to Rs 21,353 crore in 2021, owing to the faster corporate and
consumer transition to digital.
 • QUIKR – FOUNDERS :
Quikr was founded by Pranay Chulet and Jiby Thomas in 2008.
Since January 2008, Pranay Chulet has served as the founder and CEO of Quikr.
Pranay was born and raised in India but relocated to New York after finishing his
studies to work for Mitchell Madison Group, a strategy consulting business that
advised clients in the media and banking industries. Pranay founded a company
two years after arriving in the US, which he eventually merged with Walker
Digital. Pranay received a Gold Medal from IIM Calcutta in 1996 during his post-
graduation, and he did a BTech from IIT Delhi before that.
• Jiby Thomas
He is a skilled expert with more than two decades of experience in marketing
communications and online marketing. Jiby was a member of the founding
teams of Baazee and Baazee Motors, as well as Kijiji India and Quikr. He is
assisting in the development, expansion, and scaling of these firms. He enjoys
advising motivated and skilled entrepreneurs on topics such as team building,
processes, products, and strategy. He also went to IIM Calcutta for his
postgraduate studies.

• QUIKR - STARTUP STORY :

Pranay's most notable achievement in the world of digital media was the
creation of Craigslist Media Company in California, which quickly became a huge
success in the U.S. That's when the concept of Quikr struck his mind. But Pranay
did not wake up one day and decide to develop India's leading classified site,
"Craigslist."
People in India want to experience goods and examine them before buying
them, and he envisioned a platform that would connect buyers and sellers and
allow them to complete their deals offline. This physical component
distinguishes his proposal from e-commerce sites like Amazon or Flipkart, but it
also puts it in the classifieds category. As a result, in July 2008, Pranay
established Quikr.com as Kijiji.in.
 • QUIKR - FUNDING AND INVESTORS :
Quikr has so far secured money in several stages. Trifecta Capital Advisors
provided the most recent capital on April 19, 2019, in the amount of Rs 200
million from a debt financing round. Prior to that, InnoVen Capital provided
finance on December 7, 2018.

Date Round Amount Lead Investors

Apr 19, 2019 Debt Financing $2.4 million Trifecta Capital Advisors
$7.65
Dec 7, 2018 Debt Financing InnoVen Capital
million
Aug 18, 2016 Debt Financing $20 million Brand Capital
Secondary
Jul 23, 2015 $60 million Kinnevik AB
Market
$150 Kinnevik AB, Tiger Global
Apr 7, 2015 Series H
million Management
Sep 17, 2014 Series G $60 million Tiger Global Management
Mar 11, 2014 Series F $90 million Kinnevik AB
May 22, 2012 Series E $32 million Warburg Pincus
May 9, 2011 Series D $8 million NGP Capital
Mar 31, 2010 Series C $6 million Norwest Venture Partners

• QUIKR – GROWTH :
The firm not only grew at a breakneck pace relatively quickly, but it also became
a generic brand for classified ads. Some of the most significant developments
occurred as well. In 2012, the firm had a monthly user base of more than 22
million people in 65 cities. In 2014, the firm increased its customer base and
generated revenue of roughly Rs. 200 crore. A lack of room had also prompted
the creation of a novel idea.
Quikr also launched a first-of-its-kind service called 'missed called the center."
Quikr, which employs 1200–1300 employees, reported 15 lakh (approximately
1.5 million) transactions each month in 2015, valued at over $5 billion. eBay,
Tiger Global Management, Nokia Growth Partners, Steadview Capital,
Investment AB Kinnevik, Warburg Pincus, Matrix Partners India, Omidyar
Network, and Norwest Venture Partners (NVP) are among the investors who
have contributed $346 million to Quikr. In FY17, Quikr made a profit of $10
million (INR 63.8 crore).

• QUIKR – FINANCIALS :
Quikr's performance in FY21 has been constant, with losses reduced by around
90% and a 45 percent drop in revenue. Advertising, referrals, commissions, and
RTO and consultancy are the four income streams for the 14-year-old
organization. According to regulatory records, these revenues fell 45 percent to
Rs 60.75 crore in FY21 from Rs 110.41 crore the previous fiscal year.
The main sources of revenue were advertising and referral fees, which
accounted for 42.88 percent and 44.82 percent, respectively. From Rs 43.64
crore in FY20 to Rs 26.05 crore in FY21, advertising revenue fell by 40.31
percent to Rs 26.05 crore. In FY21, revenue from referral fees fell 33.62 percent
to Rs 27.23 crore. At HomeDiva, Car & Bikes, Home Services, Home Rental
Solutions, and Quikr Jobs Flexi were among the business verticals that the
holding company shut down in 2020. Losses from terminated activities totaled
Rs 181.87 crore in FY20, according to the financial filings.
Quikr recorded an operating revenue of Rs 50 crore in FY22, a decrease of
19.18% from FY21's report of Rs 60.75 crore and a rise of Rs 110.41 crore from
FY20's report of Rs 50.75 crore. This demonstrates unequivocally that the
corporation has been losing money year over year due to a slowdown in
operations revenue.

• QUIKR - CHALLENGES FACED :

- Fierce Competition
Quikr began as a basic and original concept. A location where people may trade
stuff with one another, but as you can see, the notion of categorizing also
crossed paths with a lot of players, coming from different directions. As a result,
it was in direct or indirect competition with a number of enterprises, but Pranay
was unconcerned about this.
He understands that a market with a lot of competitors is not the same as a
market with a lot of noise. Anyone may create a website, but not everybody can
start a classified advertising firm. Quikr, he claimed, was simple and clean, and it
was more powerful than the others since it showed more listings and raw
experiences to its customers. Similarly to his brand name, he provided a faster
or "quicker" approach for consumers to deal with than other marketplaces.
- Mounting Losses
Quikr's losses decreased by 90% to Rs 55.48 crore in FY21 from Rs 563.2 crore in
FY20 due to cost management. Controlling losses also had an impact on the
company's financial outflows, which fell to Rs 80 crore in FY21 from Rs 142.2
crore in FY20. Quikr has invested Rs 2.04 per unit to generate a rupee in
operational revenue.

• QUIKR - MARKETING STRATEGY :

Marketing Strategy of Quikr analyzes the brand with the marketing mix
framework which covers the 4Ps (Product, Price, Place, Promotion). These
business strategies, based on Quikr marketing mix, help the brand succeed in
the market. Let us start the Quikr Marketing Strategy & Mix to understand its
product, pricing, advertising & distribution strategies:
▪ Quikr Product Strategy:
The product strategy and mix in Quikr marketing strategy can be explained as
follows:
Quikr is a leading classified advertisement showcasing platform having its own
website and app. Quikr helps in connecting sellers and buyers who can share
their product details, contact details and complete the details. Quikr provide
more than 200 services in its marketing mix which covers most of the day to day
needs of the people. Some of the offerings are:
• Free Posts– The normal free posting service that is available to the consumers.
• Premium Posts- Premium posts of Quikr increases the visibility of one’s
product or service and help the consumers to find the product faster and with
more ease.
It separates the posting from the clutter and shows it as a priority to others.
• Other Services - Home Services, Beauty & Wellness, Business Opportunities,
Financial Services, Event Services, Travel Services, Security, Legal & Agencies,
Astrology & Devotional, Commercial Services, Healthcare Services, Hobbies &
Personal Development, Rental Services, Green Living & Social Welfare, Repairs
& Servicing
• QuikrHomes – Real Estate services
• QuikrJobs – Helps to find jobs
• QuikrBazaar – Online retailing which sells Mobiles, Furniture & Décor,
Electronics, Home Appliances, Kids & Toys, Sports, Hobbies & Fashion
• QuikrCars – Sells cars and bikes
• QuikrLearner – This provides services related to the field of education. Eg. Pre-
School & Schools, Higher Education, Exam Coaching, Professional Training,
Hobby Classes & Others

▪ Quikr Price/Pricing Strategy:

Below is the pricing strategy in Quikr marketing strategy:
The prices of the products vary as per the customers posting the Ad. Quikr don’t
charge anything for posting free ads but there is also an option to post premium
ads. The premium Ads are seen on the top of the page and get priority on the
basis of urgency. Quikr follow promotional pricing strategy on their premium
Ads and provide upto 80% discount.

▪ Quikr Place & Distribution Strategy:

Following is the distribution strategy in the Quikr marketing mix:
Quikr have their presence in about 1200 cities throughout India. Some of the
major cities are Ahmedabad, Bangalore, Chandigarh, Chennai, Coimbatore,
Delhi, Gurgaon, Hyderabad, Jaipur, Kochi, Kolkata, Lucknow, Mumbai, Pune,
Trivandrum. But being a website and app, the brand can be accessed anywhere
and anytime.
 ▪ Quikr Promotion & Advertising Strategy:
The promotional and advertising strategy in the Quikr marketing strategy is as
follows:
Their promotions mostly show some urban working class person or students
selling their used products easily online. They mostly try to convey the message
that everything sells really fast on Quikr. The brand has used many media
channels like TV, online ads, print ad etc to ensure high brand awareness among
its customers.
• QUIKR – COMPETITORS :
Quikr.com's top 5 competitors in August 2023 are:
▪ olx.in
▪ click.in
▪ clickindia.com,
▪ adeex.in
 MOBILE PREMIER LEAGUE

• MPL – ABOUT :
Mobile Premier League, or MPL, is an online gaming platform based out of
Bengaluru, India. Sai Srinivas Kiran G and Shubham Malhotra are the founders of
the company. MPL provides an abundant pool of games such as chess, quiz,
fantasy sports, free fire, rummy, 8 ball 3D pool, carrom, ludo, and more. The
Mobile Premier League games are distributed into categories like fantasy sports,
card games, puzzle games, arcade games, action games and more

The company renders real cash rewards to those who win in these online
games. With various offers that float on the platform and 24/7 support from the
MPL team, mobile game lovers are inclined towards MPL. Mobile Premier
League also provides the option of connecting with friends and offers bonus for
referring others to play on MPL. The Indian e-gaming platform has more than 60
online games, which can be accessed via its mobile application that is
compatible with both Android and iOS phones.

Founded in September 2018, MPL has seen a rapid growth and is currently
serving over 90 mn users in India.

• MPL – INDUSTRY :
The market of online fantasy games in India is expanding tremendously – over
100 million users in India joined numerous fantasy gaming platforms in 2020
alone. These online fantasy gaming platforms like MPL have been currently
engaging 14% of all smartphone users in the country. The revenues from online
gaming in India jumped 3X in a year and were last recorded at $340.5 million in
2020. Needless to say, MPL also has a huge opportunity in this market in the
upcoming years in India.

Galactus Funware Technology Private Limited is the parent company of MPL.

Galactus Funware Technology Private Limited is a private company incorporated
on May, 22 2018. It is classified as a 'subsidiary of foreign company' and is
registered at the Registrar of Companies, Bangalore. Galactus Funware
Technology offers a wide range of game applications, tournaments, cash
rewards, and other related services.

Galactus Funware Technology Private Limited is currently focusing on Mobile

Premier League, which is currently operating as a digital gaming platform.

• MPL - FOUNDERS/OWNERS AND TEAM :

MPL was founded by Sai Srinivas Kiran G and Shubham Malhotra in September
2018.

Prior to MPL, Sai and Shubham co-founded CREO (a technology company) in

2014. CREO was acquired by Hike Messenger in 2017.

▪ Sai Srinivas Kiran G

MPL CEO Sai Srinivas did his B.Tech from IIT Kanpur in Aeronautical Engineering.
Soon after completing his graduation, he started working at a gaming firm,
Zynga, where he was an Associate Product Manager. He then joined BSB - Bharti
Softbank as the Director of Product, leaving which, he co-founded CREO Tech,
where he was also appointed as the CEO. However, CREO was soon acquired by
Hike Messenger, where he later served as the Head of Total. Srinivas then
decided to venture into the mobile e-sports sector, when he co-founded MPL.
Sai also co-founded Base9, a company that organized and promoted live events
across India in 2009.

▪ Shubham Malhotra
MPL co-founder Shubham Malhotra did his BE in Electronics and
Instrumentation from the Birla Institute of Technology and Science(BITS), Pilani.
He initially worked as the Co-founder and CTO of Capillary Technologies, a
technology service provider, before moving on to co-found CREO, where he
again served as the Co-founder and CTO. He continued to stay with Hike
Messenger as the Head of Engineering at Total by Hike even after it acquired
CREO. Shubham then decided to found MPL with his CREO co-founder, Sai
Srinivas.

The strength of MPL employees stood at around 1000, which was reduced by
10% with the May 2022 layoffs.

MPL amended its reward policy for employees and made it a reward for teams.
This all-new reward system for teams, which it has introduced, will reward
teams for their performance and targets achieved instead of rewarding
employees, as per June 20, 2022. In terms of its employee salaries, MPL has
merged the fixed and the variable components of their salaries.

• MPL - BUSINESS AND REVENUE MODEL :

MPL's business model revolves around the app that it offers its users. There are
several ways in which MPL makes money. It collects an entry fee from the
players whenever they want to participate in any game. When the company
holds tournaments, it receives 20% of the total money raised from the
participating players as a hosting fee. MPL's gaming apps also make money
through advertisements and in-app purchases. MPL's business model has aided
in its success.

• MPL - GROWTH AND REVENUE :

MPL boasts of having more than 90 million users in India alone and 60+ games.
The company is a member of AIGF (All India Gaming Federation), FICCI, IAMAI
(Internet and Mobile Association of India), and TRF (The Rummy Federation).

Some other growth highlights of MPL are as follows:

MPL signed up as the ‘official sponsor’ for Kolkata Knight Riders (KKR) and Royal
Challengers Bangalore (RCB) on August 26, 2020. In March 2019, Indian
Cricketer Virat Kohli became MPL's brand ambassador. MPL is currently trusted
by 9 Crore+ Indians
 ▪ Mayhem Studios

Mayhem Studios is launched by MPL in May 2022 to develop 'AAA' mobile

games for domestic and global markets. ESports along with MPL launched this
gaming studio, which revealed its first gaming title called "Underworld Gang
Wars".

• MPL - FINANCIALS :
MPL posted annual revenue of Rs 22.4 crore in FY20, which was reported to be
at Rs 2.87 crore in FY19. MPL's total income was recorded at Rs 499.5 crore,
thereby helping the startup witness a 2130% rise from the Rs 22.4 crore of
revenue that the startup registered in the previous fiscal.
Furthermore, MPL posted $1.5- $2 billion as its annual revenue run rate during
FY20, which clearly indicates that the company is scaling fast.

• MPL REVENUE BREAKDOWN :

MPL has posted a 21X boost in its sales in FY21 when compared to the previous
fiscal, which was around Rs 17.6 crore. The revenue from sales of MPL has
registered at Rs 378.5 crore in FY21. The other income of MPL was Rs 4.8 crore
in FY20, which jumped to become Rs 120.9 crore in FY21.

MPL Revenue Verticals FY21 FY20

Revenue from Sales INR 378.5 cr INR 17.6 cr
Other Income INR 120.9 cr INR 4.8 cr

• MPL EXPENSES BREAKDOWN :

MPL's expenditure also increased quite in pace with its increasing revenues. The
annual expenses of MPL almost doubled to be registered at Rs 628.9 cr in FY21,
which was last recorded at Rs 317.4 crore in FY20, thereby showing a 98%
increase. While in FY19, the startup Rs 89.46 crore in expenses.
The Other Expenses of MPL were Rs 506.7 cr in FY21, which includes rent,
advertising and promotional expenses, IT expenses, and more. Promotional
expenses contributed largely to this section.
MPL's employee benefits expenses were registered at Rs 117.5 crore in FY21,
which was at Rs 75.8 crore in the previous fiscal.

• MPL – PARTNERSHIPS :
Here goes a list of the prominent MPL partnerships:
▪ MPL partnered with the hyper-casual developers and publishers, Voodoo
to launch Helix Jump and Color Road
▪ The company partnered with Prime Focus Technologies for content
creation
▪ MPL has already partnered with BCCI as the kit sponsor and official
merchandise partner
▪ MPL has partnered with Esports Federation of India (ESFI) as the sponsors
of the Indian team
▪ MPL has collaborated with established as well as independent game
developers from across India

• MPL - FUNDING AND INVESTORS :

MPL's total funding stands at $375.5 million. The last round that the company
raised was the Series E funding round worth $150 mn, dated September 15,
2021, and was led by Legatum.
In the Series D round held in February 2021, MPL raised a funding of $95 million.
The round was led by Composite Capital and Moore Strategic Ventures and
funding participation was also seen from Base Partners, RTP Global, SIG, Go-
Ventures, Telstra Ventures, Founders circle and Play Ventures. The round before
that was the Series C round held on September 21, 2020, where MPL raised $90
million from SIG, RTP Global, MDI Ventures, and Pegasus Tech Ventures. MPL's
existing investors, Sequoia Capital India, Go-Ventures, and Base Partners also
participated in the round.
The company’s valuation stands at $2.3 billion, as of August 2023.
 Date Stage Amount Lead Investors
September $150
Series E Legatum
15, 2021 million
Composite Capital and Moore Strategic
February 4, $95
Series D Ventures, RTP Global, SIG, Go-Ventures, Telstra
2021 million
Ventures, Founders circle and Play Ventures
September $90 SIG, RTP Global, MDI Ventures, Pegasus Tech
Series C
21, 2020 million Ventures
April 24, $35.5 Sequoia Capital India, BEENEXT, RTP Global,
Series A
2019 million Venture Highway, Times Internet
November 8, Seed $5
Sequoia Capital
2018 Round million

• MPL – ACQUISITIONS :
MPL has acquired 3 companies to date. GameDuell, the German Game Studio,
was the last company acquired by MPL on February 28, 2022. This acquisition
will help MPL, one of the most renowned esports and skill gaming platforms, to
extend its operations across international markets. MPL is currently present in
Europe, Asia, and North America. Here the partnership with GameDuell, the
Berlin-based game studio that is the global pioneer in community card and
board games, will help MPL get extensive experience in developing multiplayer
games like action arcade, board, and puzzle games.

Mobile Premier League previously acquired GamingMonk and Crevise

Technologies.

Deal
Companies Acquired Date
Value
GameDuell February 28, 2022 -
GamingMonk April 20, 2021 -
Crevise Technologies May 8, 2019 -
 • MPL – INVESTMENTS :
MPL has invested in 1 company to date, which goes by the name IndiGG.

Lead
Date Company Funding Round Deal Value
Investor
January 19, 2022 IndiGG Seed Round $6 mn -

• MPL – ESOPS :
MPL announced an ESOPs buyback plan in September 2020, which was worth
$3.2 mn for its employees, during the Series C round of funding. The company
raised $500,000 from its existing employees in January 2021 under its Employee
Investment Plan, where 10% of the MPL employees reportedly participated.

MPL made a few changes to its ESOP as well as its employee pay structure, as
reported on June 20, 2022. In its ESOP part, MPL has reduced its ESOP vesting
period, from a few years to some months. The company further mentioned that
previously its employees were granted ESOPs at the end of a cliff period, which
was after the completion of a year. On conclusion of this cliff period, the
employees of MPL got the first batch of ESOPs, and it was only in the next year
that the company granted them the next batch of ESOPs. This policy was
amended and made into one such structure where the employees can vest
ESOPs immediately. Also, the updated ESOP policy of MPL has widened the
period of availing ESOPs for employees who are exiting the company. While the
previous policy allowed the parting employees to avail of their ESOPs for 30
days, now MPL will allow them an allowance of 10 years time from the vesting
date.

• MPL - AWARDS AND RECOGNITIONS :

Some of the major awards and recognitions received by MPL to date are:

• MPL was recognized as the ‘Best Fantasy Sports Operator’ in the year
2019 by the India Gaming Awards.
• The company replaced Nike to become the official kit sponsor and the
merchandise partner of both the national men's and women's sides as well
 as the U-19 team, as announced by the BCCI (the Board of Control for
Cricket in India)
• MPL won the India CSR Leadership Award in 2021
• Mobile Premier League is known as India's second gaming unicorn
• With over 60 games, Mobile Premier League (MPL) is currently India's
largest eSports and mobile gaming platform

• MPL – LAYOFFS :
MPL laid off around 100 employees on May 30, 2022. This way the company
parted with 10% of its workforce. The number of people impacted can also be
higher, as per the reports from sources on request for anonymity. However, it is
also known that the employees affected by this layoff will receive complete
severance along with other benefits.

Besides, the employees who held ESOPs in the company will also have an option
to hold on to their ESOPs for the upcoming decade. Numerous Indian late-stage
startups from various industries have already laid off their employees,
like Meesho, CarDekho, Ola, Unacademy, mFine, Vedantu, etc., but the
challenges that the Indian startups are facing become prominent when real
gaming startups like MPL also had to lay off their employees. FrontRow, on the
same day, laid off 30% of its workforce.

Though many startups like the ones mentioned above have performed their
own layoffs, the gaming industry surely had better money-making luck. It is
important to note that two of the top ten profitable companies among the
unicorn companies of India that have successfully kept their valuations intact in
the past few weeks are Games 24x7 and Dream11.

MPL (Mobile Premier League), following the decision by the GST Council to
maintain a 28% tax on online real-money games, has taken the unfortunate step
of laying off 350 employees in August 2023.

"Last week, it was confirmed that a 28% GST will be levied on the full deposit
value rather than on Gross Gaming Revenue. The new rules will increase our tax
burden by as much as 350-400%. As a business, we can prepare for a 50% or
even 100%increase, but adjusting to a sudden increase of this magnitude means
we need to make some very tough decisions," In an email addressed to the
company's employees, Srinivas, the founder and CEO of MPL, conveyed his
message.
 • MPL – CHALLENGES :
Throughout the years since its launch, MPL has undergone numerous
challenges. Establishing itself in the competitive industry of online and fantasy
gaming is an unbelievable feat in itself, and it challenges the company
continually.

▪ Rollbacks

Along with announcing the 10% workforce layoff, MPL has also announced the
rollback of its Indonesia operations. MPL has also stated that it will be doing
away with the streaming product on its MPL app.

▪ Karnataka banned MPL and other Online Fantasy Games

Mobile Premier League, Paytm First Games, and RummyCircle-like mobile

gaming platforms that deal with real money had to suspend their services in
Karnataka following the enactment of the state legislation that prohibited
money wagering and betting in online games on October 5, 2021.

Apps like MPL and others were previously ruled as "games of skill" by one too
many courts of India. However, this law, which is declared as a part of an
amendment of the Karnataka Police Act, was enacted to ban all forms of online
gambling and betting platforms. The offenders of the law, as announced on
Tuesday, will henceforth be subjected to a maximum imprisonment of 3 years
or a fine of up to Rs 1 lakh.

Soon after the law came into effect, MPL's services were suspended in
Karnataka on Wednesday, where the users of MPL are now greeted with the
message, “Sorry! The law in your state does not permit you to play Fantasy
sports” if they open the app. Though RummyCircle and Nazara’s HalaPlay had
also updated their respective messages to inform their users regarding the ban
of their services in the state, Dream11 still ran smoothly on October 6th, and it
is still unclear whether they too have suspended their services.
 • MPL – COMPETITORS :
➢ Dream11
➢ Cricnwin
➢ LXG
➢ NODWIN Gaming
➢ FanFight

Mobile Premier League Following the decision by the GST Council to maintain a
28% tax on online real-money games, the company has taken the unfortunate
step of laying off 350 employees in August, 2023.

Srinivas, explained that the firm's major variable costs encompass people,
servers, and office infrastructure. He emphasised that in order to ensure
survival and maintain business viability, it is imperative to reduce these
expenditures.

• MPL - MARKETING STRATEGY :

▪ Digital Marketing:

Social Media: MPL likely utilizes platforms like Facebook, Instagram, Twitter,
and TikTok (if available) to engage with its target audience. They may run paid
advertising campaigns, share user-generated content, and host giveaways to
increase brand visibility.

▪ Content Marketing:

Producing blog posts, videos, and other forms of content related to gaming tips,
updates, and news can help attract and engage users.

▪ Influencer Marketing:

Collaborating with gaming influencers and content creators on platforms like

YouTube and Twitch can help MPL reach a broader audience. Influencers can
review MPL games, participate in tournaments, and promote the platform to
their followers.

▪ App Store Optimization (ASO):

Optimizing MPL's app listings on Google Play Store and Apple App Store with
relevant keywords, eye-catching graphics, and compelling descriptions can
improve visibility and download rates.

▪ Email Marketing:

Sending newsletters, game updates, and special offers to registered users can
help retain existing players and encourage them to return to the platform.

▪ Partnerships and Sponsorships:

Partnering with other gaming companies, sports teams, or organizations can

help MPL expand its reach. Sponsorships of esports events or teams can also
raise brand awareness within the gaming community.

▪ User Engagement and Retention:

Offering rewards, bonuses, and loyalty programs to frequent players can keep
them engaged and motivated to continue using the platform.

▪ Customer Support and Feedback:

Providing excellent customer support and actively listening to user feedback can
help MPL identify and address issues promptly, improving user satisfaction and
loyalty.

▪ Localized Marketing:

Adapting marketing strategies to cater to the preferences and cultural nuances

of different regions and countries can be essential, especially for an
international platform like MPL.

▪ Data Analytics:

Using data analytics to track user behavior, engagement metrics, and

conversion rates can help MPL refine its marketing efforts and make data-driven
decisions.

▪ Legal Compliance:

Ensuring that MPL complies with all relevant gaming laws and regulations is
crucial to maintaining a positive reputation and avoiding legal issues.
 • MPL - FUTURE PLANS :
As for future plans, MPL is aiming to incorporate more games and increase its
user base. The company also has plans to expand its business and tech-based
partnerships. Furthermore, MPL is also looking to hire 1,500 more people to its
organisation by mid-2023, as per the reports dated November 25, 2021. The
company is also looking forward to setting up a 500-seater office in Hyderabad
and has already signed an MOU with the Telangana government. Along with
this, MPL would also establish another global office in New York or Seattle. The
founders of MPL said that they will use ample cash reserves to help their core
businesses grow along with achieving EBITDA neutrality. Besides, the company
will also continue to invest in high conviction bets like its US operations and its
newly opened Mayhem Studios. At the same time, MPL will discontinue all of its
businesses that are not working as is desired of them.
 CAR DEKHO

• CARDEKHO - ABOUT THE COMPANY AND HOW IT

WORKS
CarDekho is the product of ‘GirnarSoft’ owned by the founder duo, Amit and
Anurag Jain. CarDekho is a web app that has almost anything and everything
about an automobile. Both the app and the CarDekho.com website boast rich
automotive content including but not limited to expert reviews, detailed specs,
and prices of cars, comparisons of cars, pictures, and videos of an exhausting
range of car brands and models available in India.

CarDekho not only lists vehicles for trade but also offers users a platform for
buying and selling used cars. Furthermore, the company also provides dynamic
services including insights about the automobile industry, fresh updates, car
images and videos, car features, recent launches, prices, or other car
specifications in layman's language so that people at home can understand.

While browsing through their website, the consumer comes across various
categories like new launches, upcoming vehicles, and used vehicles, to name
only a few.

This is not it.

CarDekho also has its own e-store. This e-store portrays and sells a wide array of
automobile accessories such as stickers, floor mats, scratch removers, polish,
mobile chargers, shampoo, navigators, seat covers, tires, alloy wheels, car
stereos, car perfumes, sun films, and many more.
Apart from the services offered relating to the automobile industry, the
company also offers various financial services to aid customers, like instant car
loans and car insurance schemes. These financial services are presented by
CarDekho in association with BankBazaar.com and Berkshire Insurance
respectively.

CarDekho has an automotive forum on its website where experts and reviewers
that are working with the company answer and resolve car-related queries that
are posted on the forum.

To cut the long story short, CarDekho is more or less like a virtual car dealer,
which is technically sound, updated, and most importantly, provides an
effortless 360-degree experience to its customers.

• CARDEKHO - FOUNDERS AND TEAM :

Amit Jain and Anurag Jain are the founders of CarDekho. Amit Jain is the CEO
and Co-Founder while Anurag Jain acts as the COO and Co-Founder at
CarDekho. Umang Kumar has also been the co-founder of the company since
CarDekho acquired Gaadi.com.

▪ Amit Jain
Amit Jain is an IIT Delhi alumnus from where he obtained a B Tech degree
before going on to join Tata Consultancy Services. Leaving TCS after serving the
company for a little more than a year, Amit joined Trilogy where he went to be a
Product Manager. Jain next started with GirnarSoft as the CEO and Co-founder
of the company, which he is still serving at the present. Amit Jain is also the CEO
and Co-founder of CarDekho.

▪ Anurag Jain
Anurag Jain is also an IIT Delhi alumnus who has obtained an Integrated Master
of Technology in Mathematics and Computing. Jain was a Senior Systems
Consultant at i2 Technologies after which he joined Sabre Holdings as a Senior
Operations Research Analyst. Anurag is currently serving as the COO and Co-
founder at GirnarSoft.
The founder and brother duo were both born on November 12th and completed
their schooling at St Xavier’s School, Jaipur. Both of them later went on to IIT
Delhi, where Amit opted for Civil Engineering whereas Anurag studied
Mathematics and Computer Sciences. They had spent around 8 years working in
the corporate sector with companies like TCS & Trilogy and that’s how Amit
developed a liking for products and technology-related things.

▪ Umang Kumar

Umang Kumar was earlier the co-founder of Gaadi.com but ever since the latter
has been acquired by CarDekho, Kumar has been associated with the team,
where he has been serving as the Co-founder and President at CarDekho.
Umang Kumar is an alumnus of Visvesvaraya Technological University, from
where he obtained a BE degree in Computers. Kumar next went on to pursue a
Post Graduate Diploma in Management from the Indian School of Business and
then joined the Harvard Business School for the Naspers program in General
Management, Strategy & Leadership. Before joining Gaadi Web as the co-
founder and CEO, Umang founded another company, Accentium Web. During
his career, Umang served a couple of other companies - 9.9 Mediaworx and
ABP, where he served in key leadership positions.

Along with them, the others in CarDekho's management include Mayank Gupta
(CFO), Umesh Hora (SLT Member, South East Asia), Manish Wadhwa (CPO),
Mayank Jain (CEO, New Auto), Ankit Agarwal (CEO, Insurance), Namit Jain (CEO
Financial Services ), and Sharad Saxena (CEO, Used Cars).

• CARDEKHO - STARTUP STORY :

All of this started when due to some personal reasons, these brothers left their
jobs and came back to their hometown. And instead of getting into their family
business, this duo thought of starting their enterprise. Eventually, the founder
duo concluded doing what they were best at. And this led them to launch
GirnarSoft, an IT outsourcing company.

They started by shooting emails to get bigger clients on board. But obviously,
this was a tedious task and tested their perseverance. And after shooting
billions of emails and making thousands of calls, they finally got on board their
first client! Though this project didn’t pay them that much, it led to another
project and building a chain of references. Following this, they started hiring and
accumulating funds to start their project, and thus, CarDekho was born.

• CARDEKHO - STARTUP LAUNCH :

A lot of thought and conceptualizing went into building CarDekho after its
launch. Even though the company had been launched, they kept their IT
consultancy services ongoing because the founders wanted the primary income
to keep flowing. CarDekho is one of those companies that take the consumer
through the whole process, from the start to the end and during the process, to
make sure that the customer is satisfied.

Like all the other entrepreneurial ventures, this company too was a little slow in
the beginning, but when it geared up the pace, the founders never looked back.
And soon enough, its numbers did the talking when they roared success out
loud to the world.

• CARDEKHO - USP AND INNOVATION :

CarDekho.com has launched many innovative features to ensure that users get
an immersive experience of the car model before visiting a dealer showroom.
These include a Feel The Car tool that gives 360-degree interior/exterior views
with the sounds of the car and explanations of features with videos. It also
offers features for searching and comparing cars by the makes, models, prices,
features, and more. Furthermore, it also provides live offers and promotions in
all cities.

The platform also has used car classifieds wherein users can upload their cars
for sale, and find used cars for buying from individuals and used car dealers.

Along with the above consumer product features, CarDekho.com provides a rich
array of tech-enabled tools to OE manufacturers and car dealers. These include
apps for dealer sales executives to manage leads, cloud services for tracking
sales performance, call tracker solutions, digital marketing support, a virtual
online showroom, and outsourced lead management operational processes for
taking consumers from inquiry to sale.
 • CARDEKHO - MISSION AND VISION :
CarDekho's mission is to digitize the auto ecosystem and make the vehicle
ownership journey easy for customers. CarDekho envisions to become the
largest personal mobility player in the Indian market.

• CARDEKHO - GROWTH AND REVENUE :

By January 2012, CarDekho had served 3.4 crore unique visitors being in the 4th
year of its journey. By the end of 2012, the company had covered 2.5 crores, of
unique visitors, in just one year, which came to be their all-time high. Within no
time, CarDekho was at the top of the game when the portal scored a record 1.7
lakh used car sales across all the cities of India.

CarDekho launched its iOS application, a month after the Android application
was launched, which scored to attain 100,000 downloads in just one month. In
2014, its unique visitors on the web portal doubled and the revenues increased
by 3x.

By 2014, they were ruling the segment with pride and had a team of more than
600 employees! Following this, CarDekho launched BikeDekho, PriceDekho,
MobileDekho, and many other similar portals under its umbrella.

CarDekho claimed that it works actively with over 4,000 new auto dealerships
and 3,000 used car dealers across India. In addition, it also stated that it has
collaborated with more than 10 financial institutions and 18 insurance
companies across the country to facilitate used car financing and insurance to
provide a seamless experience for both buyers and sellers.

CarDekho launched Gaadi by CarDekho in January 2019 after it acqui-hired

Carbiqi when it forayed into the auction model. It started with the opening of
about 8-10 Gaadi by CarDekho stores across the National Capital Region (NCR).
CarDekho's stores had increased to around 60 operational stores across the
country throughout the next year and a half.

However, the company has now decided to move towards purchasing cars only
after a home inspection, as of September 10, 2021. For this reason, CarDekho
eventually closed more than 20 of its stores across the country.
CarDekho has shut down numerous Gaadi by CarDekho stores that the company
had across the country. The Gurgaon-based used car content and commerce
platform had reportedly closed or is on the brink of closing anywhere around
21-25 of its stores, most of which are located in Delhi NCR, including Faridabad
and Ghaziabad; Mumbai, Pune, and Bengaluru by October 2021. The main
reason for shutting down the CarDekho stores is the company's shift to the
home inspection model, where the company will go for purchasing cars only
after a home inspection. CarDekho believes that this will be more efficient as its
business model, as a result of the aftermath of the coronavirus crisis.

• CARDEKHO LAUNCHED RUPYY :

CarDekho has announced the launch of Rupyy, which will serve as a specialised
financial services platform on April 26, 2022. This new platform will offer a
whole new horizon of financing alternatives to the customers and retailers of
automobiles. With the birth of Rupyy, CarDekho aims to empower customers
with easy and convenient methods to apply for and receive approval for their
auto-financing requirements. According to the CarDekho statement, Rupyy is an
end-to-end digital platform that is designed to make the loan journey smooth
and hassle-free for customers.

Rupyy will work via a QR code-based onboarding process at vehicle dealerships

and loan companies. This QR code-based process will guide the customers with
a self-help path running video KYC, e-NACH, and e-Agreement technologies,
which will help them approve their loans right at the point of sale within a few
minutes.

CarDekho reported revenue of Rs 260 crores in the year that ended in March
2019, i.e., an increase of around 62% from the previous fiscal. The automobile
marketplace also reported its other income that pushed its total income to
more than Rs 936 crore in FY21.

• CARDEKHO REVENUE BREAKDOWN :

The used-car selling platform purchases cars from the users of CarDekho and
then sells them to car dealers across the country earning revenues. This revenue
vertical showed a 67.4% growth in FY21, bringing around Rs 489 crore in
revenues for the company from Rs 292 cr in FY20. Here's the complete revenue
breakdown of CarDekho below and its comparison with the previous fiscal:
CarDekho Revenue Verticals FY21 FY20
Sale of Used Cars to Dealers Rs 489 cr Rs 292 cr
Advertising and Digital Marketing Rs 246 cr Rs 227 cr
Commission from Car Dealers Rs 104 cr Rs 142 cr
Insurance Brokerage Rs 30 cr Rs 33 cr
Other Operating Income Rs 16 cr Rs 11 cr

• CARDEKHO EXPENSES BREAKDOWN :

The company's purchasing of used cars from their owners stands as the most
significant cost centre for the company in FY21, which grew by 66.2% to become
nearly Rs 481 cr from Rs 289.4 cr, and has contributed to 37.6% of its annual
expenses.
CarDekho Expenses Verticals FY21 FY20
Employee Benefit Expenses Rs 435 cr Rs 339 cr
Cost of cars purchased Rs 481 cr Rs 289 cr
Others Rs 125 cr Rs 141 cr
Rent and Utility Rs 18 cr Rs 31 cr
Outsourcing and Towering Expenses Rs 52 cr Rs 75 cr
Advertising and Promotional Expenses Rs 178 cr Rs 234 cr

• CARDEKHO FINANCIALS :
CarDekho's Financials for FY21 and FY20

Here's a look at the breakdown of the CarDekho financials in FY21 compared

with FY20:

CarDekho Financials FY21 FY20

Revenue from Operations Rs 884.4 cr Rs 706.3 cr
Total Expenses Rs 1277.6 cr Rs 1080.9 cr
Profit/Loss Loss of Rs 343 cr Loss of Rs 326.5
EBITDA Margin -32.24% -37.63%

Going by the unit level calculation, CarDekho has spent Rs 1.44 to earn a single
unit of operating income during FY21, which is a slight improvement from Rs
1.53 spent during FY20. CarDekho's revenue has grown by 20% to Rs 884.4 crore
in FY21 from Rs 706.3 crore in FY20. The company's expenses grew from RS
1080.9 crore in FY20 to Rs 1277.6 crore in FY21. It has also piled up on its losses,
which currently stand at Rs 343 crore, slightly rising from Rs 326.5 crore in FY20

• CARDEKHO – CHALLENGES :
CarDekho has faced numerous challenges to establishing itself in the market,
which was earlier dominated by new cars and other disorganized players
providing used cars offline. However, the COVID-19 onslaught is almost a
blessing in disguise for the used-car marketplace because of the fear
surrounding public vehicles and overcrowding.

• CARDEKHO – COMPETITORS :
Other online marketplaces in India that deal with and cater to the same set of
the target audience are:

▪ Droom
▪ Quikr
▪ Olx
▪ Cars24
▪ Mahindra First Choice Wheels
 • CARDEKHO - FUNDING AND INVESTORS :
So far, CarDekho has raised $497.5 million spread across 9 funding rounds to
date. CarDekho's last funding rounds were a mix of a debt round worth $50
million and an equity Series E round of $200 million raised in October 2021, led
by LeapFrog Investments along with a bunch of other existing investors.

This round helped CarDekho to earn a unicorn valuation, being valued presently
at $1.2 billion. CarDekho became the third Indian unicorn startup in the used car
retailing space in 2021. Here is a list of all the funding rounds of CarDekho:

Date Stage Amount Investors

October 13, 2021 Series E $200 million LeapFrog Investments
October 13, 2021 Debt financing
$50 million -
December 5, 2019 Series D $70 million Ping An Global Voyager Fund
CapitalG, Hillhouse Capital
January 3, 2019 Series C $110 million
Group, Sequoia Capital India
March 21, 2018 Series B $2.5 million Sequoia Capital India
March 21, 2016 Venture Round - CapitalG
May 28, 2015 Venture Round - HDFC Bank
Hillhouse Capital Group,
January 28, 2015 Series B $50M
Bourne Capital
November 27, 2013 Series A $15 million Sequoia Capital India

CarDekho.com, which went live in 2008, was set up by a bunch of young,

enthusiastic IIT graduates. Its investors include Google Capital, Tybourne
Capital, Hillhouse Capital, Sequoia Capital, HDFC Bank, Ratan Tata, and Times
Internet.

CarDekho also announced a secondary sale in February 2020 allowing eligible

employees to cash out 50% of their vested options under GirnarSoft Group’s
ESOP Exercise. According to the company, the cash out is estimated to be worth
$3.5 million. This was the second time that this scheme has been floated by the
startup in FY20. The first ESOP cash-out was announced in April 2019, in which
CarDekho bought ESOPs worth $2 million.
 • CARDEKHO – ACQUISITIONS :
CarDekho has acquired 3 organizations.

Acquired Date
Gaadi Web September 2014
Zigwheels September 2015
PowerDrift August 2018
Carmudi
November 2019
Philippines

Gaadi Web is an automotive portal for the Indian market with a search platform
for new, used, and upcoming vehicles.

ZigWheels.com is India’s leading auto portal offering the most comprehensive

coverage of the latest news.

Carmudi Philippines operates like a local automotive website.

In September 2014, CarDekho acquired Ibibo-owned Gaadi.com for $11 million.

Following this, CarDekho went on to become the undisputed market leader. It
has now more than 35 million unique monthly users.

• MARKETING STRATEGIES OF CARDEKHO :

CarDekho employs a wide range of marketing strategies to promote its brand
and services, including:

➢ Search Engine Optimization (SEO): CarDekho focuses heavily on

optimizing its website and content for search engines like Google. The
company uses targeted keywords, meta descriptions, and backlinks to
ensure its website appears at the top of search engine results pages
(SERPs) for relevant keywords.
➢ Content Marketing: CarDekho creates high-quality content, such as car
reviews, comparisons, and news articles, to engage with its audience and
attract new users to its platform. The company also shares its content on
social media platforms like Facebook and Twitter to reach a wider
audience.
 ➢ Social Media Marketing: CarDekho has a strong presence on social media
platforms like Facebook, Twitter, Instagram, and YouTube. The company
uses these platforms to share its content, promote its services, and engage
with its audience.
➢ Influencer Marketing: CarDekho partners with social media influencers
and celebrities to promote its brand and services. The company has
collaborated with popular Indian celebrities like Akshay Kumar to reach a
wider audience.
➢ Event Marketing: CarDekho participates in various automobile exhibitions
and events to promote its brand and services. The company also organizes
its own events, such as “The Great Indian Car Mela,” to showcase its
products and services to potential customers.
➢ Partnerships: CarDekho partners with various car manufacturers and
dealerships to offer exclusive deals and discounts to its users. The
company also partners with other businesses, such as insurance providers
and financial institutions, to offer additional services to its users.
Overall, CarDekho’s marketing strategies are aimed at reaching a wider
audience, promoting its brand and services, and engaging with its users. The
company leverages various channels, including search engines, social media,
influencers, events, and partnerships, to achieve its marketing goals.

• FUTURE OF CARDEKHO :
CarDekho is an Indian online car marketplace that provides a platform for
buying and selling new and used cars, as well as other automotive services such
as insurance, financing, and car reviews. The future of CarDekho looks
promising, with several factors contributing to its potential growth and success:

➢ Increasing demand for online car marketplaces: With the growth of e-

commerce and the increasing use of the internet for shopping, more and
more people are turning to online car marketplaces like CarDekho to buy
and sell cars.
➢ Rising car ownership rates: As more people in India become economically
stable, there is a growing demand for cars, which translates into more
potential customers for CarDekho.
➢ Expansion into new markets: CarDekho has already expanded its
operations to several other countries, including Indonesia, Malaysia, and
the Philippines, and is likely to continue expanding into new markets in the
future.
 ➢ Diversification of services: CarDekho has already diversified its services to
include insurance, financing, and other related services, and is likely to
continue expanding its offerings to provide a one-stop-shop for all car-
related needs.
➢ Technological advancements: CarDekho has already started using AI and
machine learning to enhance its platform and provide a more personalized
experience for users. This trend is likely to continue as technology
continues to advance, leading to further growth and success for CarDekho.
Overall, the future of CarDekho looks bright, with a strong potential for growth
and expansion. As the demand for cars and online car marketplaces continues
to rise, CarDekho is well-positioned to capitalize on these trends and become a
leader in the industry.
 BLUSMART

With high fuel prices and global warming becoming a major thing, the era for
electric vehicles is here. People aren't aware and assume that electric vehicles
are a recent invention, but in reality, they have been here for many years.

The main reason for this thought process is that in these recent years, the
inventions of these electric vehicles (EVs) are gaining popularity with the right
set of technological advancements and innovations. People are also becoming
aware and are considering EVs as potential substitutes for cars with internal
combustion engines to cut back on emissions that cause global warming.

Today, we can see a lot of countries have introduced electric vehicles as a better
substitute to help combat climate change. A lot of people have also started
using EVs to keep up with the rising fuels. You are wondering what is it that
makes an EV better than a traditional type of vehicle. This is because as the
name says, EVs are powered by electricity. There are more diverse ways to
create electricity; for instance, it can be done using fossil fuels, wind, solar, tidal,
nuclear, or a mix of any of these.

In India too, the fad for EVs is here in the market today. Having said that, one
such company is capturing many eyeballs by introducing 100% sustainable
electric rides in the country's streets. BluSmart is the company that is India's
first and leading company that is providing all-electric ride-hailing mobility
services. Just in three years, BluSmart Mobility has made itself an established
company and is among LinkedIn's 25 Top Startups in India.

• BLUSMART – ABOUT :
BluSmart mobility was founded in 2019 with the aim to offer urban India a ride-
sharing experience in a sustainable manner. The company is the country's first
electric shared smart mobility platform that offers efficient, affordable,
intelligent, and sustainable mobility.

The Mahindra e-Verito, Tata e-Tigor, Tata Xpres-T EV, Hyundai Kona Electric,
and MG ZS Electric are among BluSmart's fleet of vehicles as of 2022.

It is commendable to believe that BluSmart has identified itself as the most

prominent ride-hailing service as well as a platform in Delhi NCR with several
significant achievements, including taking the lead in the all-electric ride-hailing
market and creating the largest all-electric fleet and fast charging station
network in Delhi NCR.

The BluSmart is all about delivering shared rides, hourly rentals, and airport
services operating within Gurugram and South Delhi for now.

• BLUSMART – INDUSTRY :
It wouldn't be surprising to think or say when we are seeing that the electric
vehicle industry is developing at a rapid pace. This industry has been growing so
quickly that is seen due to the government's adoption of beneficial policies and
programmes, EVs had strong growth in 2021.

As per sources, currently, India has about 12 lakh EVs and is expected to reach
up to 3 crores in two years.

• BLUSMART - FOUNDERS AND TEAM :

BluSmart Mobility is founded by Anmol Sing Jaggi, Puneet Singh Jaggi, and Punit
K Goyal in 2019.

Anmol Singh Jaggi

Anmol Singh Jaggi is the co-founder of BluSmart. Having studied B.Tech from
the University of Petroleum & Energy Studies, he also founded another
company called, Gensol Group in 2007. With 19 GW of expertise in 14 countries,
Gensol Group is a top design, engineering, and project management company
for renewable energy. He has acquired the complete stake valued at
approximately Rs 32 crore held by Mayfield India on May, 2023.
Puneet Singh Jaggi
Puneet Singh is among the founders of BluSmart. Along with starting an electric
vehicle mobility service, he is playing a crucial role in leading other companies.
Puneet is also the co-founder of Gensol Group along with his brother Anmol.
Presently, he is the Director at Solarig Gensol Utilities Pvt Ltd, which is a joint
venture of Solarig from Spain and Gensol from India.

Puneet Singh founded Prescinto Technologies Private Limited, which is

monitoring, analytics, and field force management platform powered by
artificial intelligence that combines clean energy plant data with cutting-edge
technology to achieve enhanced generation. Puneet Singh graduated in
Chemical Engineering from the Indian Institute of Technology, Roorkee.

Punit K Goyal
Punit K Goyal is the co-founder of BluSmart Mobility. He holds a Bachelor's
degree in Economics from Sydenham College of Commerce and Economics.
Before he began his career with BluSmart, he founded PLG Clean Energy
Projects. Other than carrying out leadership roles, Punit likes to speak at various
events at CII, and IITs. Presently, he is also the Co-Chair of the Confederation of
Indian Industry.

• BLUSMART - STARTUP STORY :

BluSmart began its operations on 14 January 2019. In the initial days, with
200,000 rides, BluSmart has covered more than 5,000,000 km and estimates
that it has prevented around 375,000 kg of carbon emissions in the same year.

BluSmart came up with its first batch of EVs by associating with Mahindra &
Mahindra Ltd. The company has recently declared that it had completed 16
million km (9.9 million ) of emission-free travel in Delhi NCR in 2021.

• BLUSMART - MISSION AND VISION:

BluSmart's services truly speak about its mission that is, "We are on a mission to
steer urban India towards a sustainable means of transportation and to provide
them efficient, affordable, intelligent, safe, and reliable mobility."
The vision of the company says, "With sustainability being at the core of our
operations, our vision is to help transform the Indian cities by building a holistic
and comprehensive electric on-demand mobility platform."

• BLUSMART - BUSINESS MODEL :

The business model of BluSmart is a B2C or business-to-customer model. Due to
its services directly offered to its customers. Other than this, its functions are on
an asset-light business model as well. This means, that all their EVs are on the
lease, which is either purchased from companies like EESL (Govt. of India
Enterprise) or high-net-worth individuals. The company's fleet comprises 320+
electric cars like the Mahindra e-Verito, Tata e-Tigor, Tata Xpres-T EV, Hyundai
Kona Electric, and MG ZS Electric.

Customers who are looking to ride with BluSmart can avail of the services
through BluSmart's app built for both Android and iOS users. Just like how Uber,
Ola, and Lyft offer their customers to purchase a ride and users can find the
same method in the BluSmart app as well.

• SERVICES PROVIDED BY BLUSMART :

The main services provided by BluSmart are shared rides for users, hourly basis
rentals, and airport pick and drop-off services. The services are operational in
Gurugram and South Delhi.It also offers services for drivers who want to drive
their EVs at zero ownership cost. Other services provided to drivers are:

➢ Chance to drive premium electric sedan

➢ Up to Rs 2 lakhs in free accidental insurance
➢ Incentives based on performance
➢ Weekly earnings
➢ Flexible working hours
➢ Services during the lockdown period

When the pandemic hit the world, BluSmart restarted its services with a unique
offer for the COVID warriors, such as doctors, healthcare professionals, people
employed in the power sector, people employed in the financial sector, and
others, as a token of appreciation and to make their commutes safer and better.
COVID-19 immunisation drive was started by BluSmart in April 2021 for its
drivers, whose status is viewable in the BluSmart mobile app.
 • BLUSMART - GROWTH AND REVENUE :
BluSmart earns its revenue by letting its users purchase rides from BluSmart's
mobile application. The approximate annual revenue of BluSmart ranged
between Rs 1 to Rs 100 crores as of March 2021.

In a remarkable feat, the company has achieved an average revenue run rate
(ARR) of Rs 400 crore by August 2023, marking a significant 60 percent increase
compared to the end of the year 2022.

• BLUSMART- FINANCIALS :
BluSmart's operating revenue exhibited substantial growth, rising from Rs 9
crore in FY21 to Rs 29 crore in FY22. Conversely, the company's total expenses
also increased significantly, going from Rs 48.7 crore in FY21 to Rs 97.8 crore in
FY22. In terms of profitability, the company's losses amounted to approximately
Rs 39.4 crore in FY21, and this figure increased to Rs 65.4 crore in FY22.
 • BLUSMART - FUNDING AND INVESTORS :
BluSmart has raised a total of $184 million in funding over ten rounds. The
funding round on May 24, 2022, was for $15 million from six investors, including
BP Ventures and Green Frontier Capital.

JITO Angel Network, and Ka Productions of Deepika Padukone's investment

office, launched a $3 million angel round for BluSmart in September 2019.

The company secured a funding round on April 29, 2023, totalling $37 million,
with the investor's identity remaining undisclosed.

Funding
Date Amount Investors
Round
$37
Apr 29, 2023 Series A -
million
Debt $5
May 4, 2023 -
Financing million
April 29, Debt $75
Power Finance
2023 Financing million
$15
May 24, 2022 Series A BP Ventures, Green Frontier Capital
million
March 24, Debt $10
Blacksoil
2022 Financing million
September Rs 150
Series A BP Ventures
30, 2021 crore
September 7, $7
Seed Round Venture Catalysts
2020 million
Rs 37
July 3, 2020 Seed Round -
crore
Deepika Padukone via Ka Enterprises, Jito
September $3
Angel Round Angel Network, Bajaj Capital Managing
24, 2019 million
Director Sanjiv Bajaj and Rajat Gupta
August 17, Rs 15
Seed Round Jito Angel Network
2019 crore
 • BLUSMART - CHALLENGES FACED :
As a newcomer in the industry, BluSmart has to go through a lot of challenges.
The company has a hub-to-hub business model, hence the shortage of charging
stations in India and EV scope tension pose significant barriers to its expansion.
Therefore, the company is setting up its charging points to cater to their
requirements

Due to the fact that their cars are not driver-owned assets, hefty maintenance
expenses could make the scaling-up process for them more complicated.

• BLUSMART – PARTNERSHIPS:
BluSmart started by teaming up with Mahindra & Mahindra Ltd. The joint
venture has 70 Mahindra eVerito sedans in and around Delhi NCR, including
Noida, Gurugram, Ghaziabad, Faridabad, and Greater Noida. In 2021, BluSmart
partnered with Reliance Industries. through its joint venture Reliance BP
Mobility Ltd. The partnership is meant to increase BluSmart's fleet size and offer
its services outside Delhi NCR.

A spokesperson from the company has said, "Through this partnership, both
companies will collaborate in planning, development, and operation of EV
charging infrastructure, at suitable locations across cities where BluSmart
operates.

With the first-phase roll-out will be in the National Capital Region, these EV
charging stations will be capable of accommodating a minimum of 30 vehicles at
each station and will be concentrated in urban areas."BluSmart has entered into
a strategic partnership with Inframantra, a real estate firm specializing in
enhancing the value of commercial and residential properties through their
expertise.

The company forged a partnership with MG Motor India to incorporate the MG

ZS EV, a battery-electric SUV, into its electric cab fleet operating in the country.
The order placed amounts to 500 units of these electric SUVs in June, 2023.

• BLUSMART - ONLINE AND SOCIAL MEDIA PRESENCE:

BluSmart plays an active role in its social media pages by posting witty and
catching posts. The company has managed to increase its brand awareness by
3.5 times.
Its Facebook has 2,322 followers, its Twitter page with 2,796 followers, whereas
its LinkedIn page has 77,728 followers.

• BLUSMART – COMPETITORS:
The top competitors of BluSmart are:

➢ Ola Electric
➢ Bolt
➢ Dott
➢ Zypp Electric
➢ Hero Electric
➢ Revolt Motors

• BLUSMART - FUTURE PLANS :

BluSmart plans to expand its operations outside Delhi NCR. The company is in its
initial stages starting with Mumbai. Along with this, the company has also
announced further expansion in six cities in the cities of Gujarat, Rajasthan, and
Maharashtra.

The company strongly believes that is helping curb pollution. Their zero-
emission vehicles are helping to improve the air quality in Delhi NCR, where the
Air Quality Index is frighteningly high (AQI). In addition, BluSmart is assuring a
stronger focus on sanitation and hygiene in light of the recent COVID outbreak
since they feel it is their duty as a mobility player to assist in restoring customer
confidence.
 PEPPERFRY

• PEPPERFRY - ABOUT AND HOW PEPPERFRY WORKS:

The largest online furniture store in India, Pepperfry was founded in the year
2011 by Ambareesh Murthy and Ashish Shah. However, it was primarily
established as a horizontal online marketplace that focused on fashion and
lifestyle. Yes, it was the time when Flipkart was just another e-commerce
startup, and Amazon didn't hit the Indian markets. Profits initially came in well,
but they stopped eventually, which led the company to abandon the earlier
business and stick to a niche model involving the online selling of furniture and
home furnishing products, which ultimately proved profitable.

The brand Pepperfry now specializes and deals with home decor segments like
furnishing, lighting, kitchen appliances, housekeeping, bathing equipment,
dining, and so on.

This e-commerce company has a wide range of products that make an amazing
experience for the users. Their products and delivery mechanism have made
them a leading brand in their category. The company has registered 7 million+
visits on its website every month, boasted of more than 4.5 million registered
users and subscribers, and claims to have over 10,000 sellers on board.

Initially, Pepperfry was started to provide products across multiple lifestyle

categories but then after a year, in 2013, Pepperfry pivoted to find a niche in
the category of selling only furnishings, home decor, and related products
online. Headquartered in Mumbai, Pepperfry has also opened over 60 Pepperfry
studios in 18+ Indian cities. These studios display a wide range of furniture so
that the customers can get a look and feel of the furniture before placing an
order.

In September 2018, Pepperfry launched a furniture rental service in Mumbai,

Bengaluru, Delhi, Gurgaon, Hyderabad, Pune, Chennai, Noida, and Ahmedabad,
despite Furlenco and Instamojo already having a lion’s share of the market. This
service targets the urban population between the ages of 25 to 35 and is
offering 1200+ products for rent for a period of 6, 9, or 12 months. In 2018, it
also tied up with online classifieds platform Quikr for a furniture exchange
program.

Pepperfry is particularly proud of its omni-channel capabilities, allowing the

consumer to order anytime, anywhere, from any channel or device. This is
possible through mobile and website presence, which allows consumers to
switch easily between these media for any part of their purchase journey.

Trendsutra Platform Services Private Limited is the parent company of

Pepperfry. It now provides e-commerce products and offers discounted lifestyle
products for retail sale through the Internet, including clothing, furniture,
jewellery, personal care items, and home decor products.

• PEPPERFRY – INDUSTRY :
The online furniture market in India is growing at a CAGR of a strong 39%. In the
calendar year 2020, the online furniture market grew to $400 mn from $275 mn
in 2019. Over the next five years, this market is expected to grow by 3X with a
1.8X jump in the annual spending per shopper.

• PEPPERFRY - FOUNDERS/OWNERS AND TEAM :

Ambareesh Murty and Ashish Shah are the founders of Pepperfry.

Ashish Shah
Pepperfry CEO, Ashish Shah has an Advanced Diploma in Materials
Management from the Institute of Management Technology, Ghaziabad. He has
a degree in Chemical Engineering from the University of Pune. Ashish began his
career by joining Tradox Pigments & Chemicals as their Branch Sales Manager in
1998, and later worked in companies like ChemB.com India, C1 India Pvt Ltd,
Baazee.com, and lastly eBay, where he looked after the sales and operations for
eBay India before starting Pepperfry.

Ambareesh Murty served as the CEO of Pepperfry until the unfortunate passing
of the CEO, after which Ashish Shah was appointed as the company's new CEO.
Ambareesh Murty held an MBA degree from IIM Calcutta and had a
distinguished career with prior roles at Cadbury, ICICI Prudential, and Britannia.
He served as the Country Manager of eBay India, Philippines, and Malaysia and
concurrently held the position of Vice Chairman at the Internet and Mobile
Association of India (IAMAI).

The other core members of the team are Sanjay Netrabile, who is the Chief
Technology Officer (CTO) of Pepperfry, and Kashyap Vadapalli, who has been
serving as the Chief Marketing Officer (CMO) and Business Head.

• HOW WAS PEPPERFRY STARTED?

Ambareesh Murty, Ashish Shah, and Niren Shah, all of whom were former eBay
India personnel, met over lunch once in 2011 at Niren Shah’s Nariman Point
office in Mumbai. Murty was then the country manager for eBay India and
Ashish Shah led the motors and social shopping department of the office; Niren
Shah had already taken an exit from the company in 2007 and joined the
investment firm Norwest Venture Partners, as the managing director.

During their lunch, that day Murty and Ashish Shah decided to present their
plans of launching a lifestyle e-commerce venture that would revolve around
paper napkins to Niren Shah, who loved the idea instantly. This lunch meeting
came to be the genesis of Pepperfry, the online furniture marketplace, and the
home decor platform.

The founder duo - Murty and Shah, decided to start up in early 2011. It was then
that they tried maintaining their Linkedin profiles accordingly, the first step of
which was making their profiles read "starting up". Soon after they became a
team of six and the company which was relying on the personal equity of the
founders were now officially committed a sum of $5 million from some VCs.
Though the deal was in the term sheet, it wasn't materialized in this case.

Here was a time when the brand lacked a brand name and funding, and on the
other hand, the founders have already invested all of their life's savings and
were peculiarly stranded. However, Murty and Shah didn't lose hope, they
instead persuaded their whole time of 25 people to go to Goa on a holiday. This
was a daunting step indeed along with being an interesting one, where the
founders didn't want to miss out on the last opportunity to enjoy.

The silver lining followed eventually in the form of the Series A funding round
that helped pepperfry raise around $5 million. This instilled waves of passion
and motivation in the team, and the company never had to look back since
then.
 • PEPPERFRY - BUSINESS MODEL AND REVENUE MODEL :
Pepperfry works on a Managed Marketplace Business Model wherein small and
medium business artisans and merchants sell their merchandise through the
company.

Pepperfry's category team meets the sellers, and after proper checking, they
procure selected products from the sellers. The products are then taken to
studios for photoshoots. The photos of products are then catalogued and placed
on the website. Once a product is sold, it is brought from the sellers to
Pepperfry's warehouse, where the quality of the product is checked, and the
product is packed and dispatched to the customer.

Currently, Pepperfry is working with 10,000+ merchant partners who sell their
products all over India.

In the year 2014, the company had some variations in its business model. Along
with its website, and application, Pepperfry opened its retail stores under the
name Pepperfry Studios. The company has to date delivered its products in
more than 500 cities and is still expanding its presence in the market to Win.

• PEPPERFRY - FUNDING AND INVESTORS :

Pepperfry has raised a total of $280.24 Million to date (November 2021).

Pepperfry last raised $40 Million from a debt funding round from 47 investors
including Norwest Venture, General Electric Pension Trust, and other family
businesses and trusts on November 23, 2021. The previous funding for
Pepperfry came in on 12th February 2021, when the company raised close to $5
Million from InnoVen Capital.

Pepperfry is looking to raise up to $300 mn via the sale of new stock and a
secondary offering of shares before its upcoming IPO.

In 2018, Pepperfry received funding of Rs 250 crore from State Street Global
Advisors, the asset management business of State Street Corporation, one of
the world’s largest investment management companies. This was one of the
highest amounts of capital raised by an e-commerce furniture and home
products company in India. The funds raised were used to scale up Pepperfry’s
logistics network from 500 to more than 1,000 cities and open more experience
centers, called Pepperfry Studios, in smaller towns and cities.
In 2016, Pepperfry raised Rs. 210 crores in a Series E funding round from
existing investors - Goldman Sachs, Bertelsmann India Investments, Norwest
Venture Partners, and Zodius Technology Fund.

In 2015, Pepperfry raised $100 million (around Rs.600 crore) in a Series D

funding round led by Goldman Sachs Group Inc. and Zodius Technology Fund.
The existing investors Bertelsmann India Investments and Norwest Venture
Partners also participated in the round. The funds were used to open more
distribution centers in an attempt to expand the company’s reach in small cities
and towns and strengthen its logistics network, which comprises a fleet of more
than 400 vehicles at present. Pepperfry also raised $15 million (around Rs.90
crore) from Bertelsmann India Investments and Norwest Venture Partners in its
second round of funding.

Company secured a significant funding round of $23 million from an undisclosed

investor, marking another milestone in its financial growth journey on
September 5, 2023.

The summary and details of the funding round of Pepperfry are as follows:

Date Stage Amount Investors

September 5, Funding $23
-
2023 Round million
November 23, Debt $40 Norwest Venture, General Electric Pension
2021 Financing Million Trust and others
February 12, Debt $4.69
InnoVen Capital
2021 Financing Million
February 10, $40
Series F Pidilite Industries Limited
2020 Million
February 7,
Series F $3 Million -
2020
$33.55
March 7, 2018 Series E State Street Global Advisors
Million
Bertelsmann India Investments, Zodius
September $31
Series E Capital, Norwest Venture Partners &
21, 2016 Million
Goldman Sachs
$100 Bertelsmann India Investments, Norwest
July 27, 2015 Series D
Million Venture Partners & Goldman Sachs
 Date Stage Amount Investors
$15
May 27, 2014 Series C Bertelsmann & Norwest Venture Partners
Million
April 2, 2013 Series B $8 Million Norwest Venture Partners
December 12,
Series A $5 Million Norwest Venture Partners
2011

Pepperfry has successfully raised a total funding amount of $308.3 million,

underlining its robust financial support throughout its journey thus far.

• PEPPERFRY SHAREHOLDING PATTERN :

The shareholders of Pepperfry are as follows:

➢ Norwest Ventures - 29.40%

➢ Broad Street Investments - 21.09%
➢ Bertelsmann - 18.64%
➢ General Electric Pension Trust - 12.29%
➢ Ambareesh Murty - 4.35%
➢ MBD Bridge Street - 3.92%
➢ Panthera Growth Fund - 3.61%
➢ Madhubala Ventures - 2.15%
➢ Ashish Shah - 1.45%
➢ Cayman Holdings - 1.33%
➢ Indiblu Investment - 1.10%
➢ Stonebridge - 0.56%
➢ Vedantum Family Trust - 0.11%

• PEPPERFRY – IPO :
Pepperfry is looking to list on bourses and for this, it has already started
rearranging its business structure. Pepperfry, which was earlier registered in
Cayman islands in order to help it list in the US, has now been redominciled in
Mumbai. Furthermore, the company is also onboarding independent directors
because for the unlisted public companies it is mandatory to reserve at least
33% of its directorships for independent directors, in case the chairman of the
company is an independent director. Pepperfry will likely file its draft red
herring prospectus with SEBI this year, 2022. Pepperfry has already converted
into a public entity with the Pepperfry board passing its resolution in May 2022.
This changed the name of Pepperfry to Pepperfry Limited.
 • PEPPERFRY - PARTNERSHIP AND TIE-UPS :
In July 2018, Pepperfry tied up with an online marketplace for pre-owned
furniture Zefo to provide customers with an opportunity to sell their old
furniture to Zefo in exchange for Pepperfry gift cards through the ‘Exchange
Your Furniture’ service. These gift cards are redeemable against purchases
made on Pepperfry.

Pepperfry also launched the ‘Privilege programme’ by partnering with about

1,400 architects and interior designers to widen its customer reach. The
programme is expected to host 10,000 partners by the end of 2018.

Moreover, Pepperfry also partnered with Rajasthan Royals for IPL 2015 to
promote its brand name and also to increase user engagement and sales.

• PEPPERFRY - GROWTH AND REVENUE :

Today, Pepperfry is one of the budding online furniture retailers but the total
market share of the company was estimated at a mere 3.5% of the total market
size of $20 bn by Redseer. By the end of 2026, the overall furniture market of
India is estimated to grow to $37.72 bn and with around 3.5% market size,
pepperfry is likely to grow to $1.32 bn by that time.

Pepperfry claims to have 21+ distribution centers and a fleet of over 400
vehicles. Pepperfry now has 1 million+ home products, ranging from coffee
tables and beds to bedsheets and lamps, and delivers to more than 500 cities in
India. The company owns 14+ warehouses across the country. They say that
their Padgha warehouse, located north of Mumbai, is India’s largest.

Some more growth highlights of Pepperfry are:

➢ It owns 73+ showrooms

➢ Pepperfry boasts of having 140+ studios through its franchise programme
➢ Pepperfry is backed by India's leading adhesive company Pidilite
➢ Pepperfry has already turned into a public company on May 20, 2022, and
is all set to go public. The new name of Pepperfry is Pepperfry Limited, and
its conversion to a public entity has been passed by the board of directors
of the company.
 • PEPPERFRY REVENUE AND FINANCIALS :
Pepperfry reported operating revenue of Rs 246.03 cr in FY20, which is around
27% higher than Rs 193.26 cr, which the company posted in FY19. Furthermore,
the startup managed to lower its losses to Rs 117.4 cr in FY20, which is also a
significant decrease of around 33.3% from Rs 183.49 cr in FY19. The company
posted Rs 201 cr in operating revenues, which shrank from the previous fiscal by
nearly 14%. However, the company also managed to bring down its losses,
which were recorded at Rs 106 crore in FY21.

Pepperfry's revenue in FY21 was Rs 201 crore, which increased by 22.9% to Rs

247 crore in FY22. However, total expenses also rose from Rs 327 crore in FY21
to Rs 458 crore in FY22, a 40.1% increase. Unfortunately, the company's losses
also surged by 83%, going from Rs 106 crore in FY21 to Rs 194 crore in FY22.

• PEPPERFRY - STARTUP CHALLENGES :

Pepperfry already faced enough challenges involving funds even before it came
up with a name. The next big challenge was that of the logistics. Furniture is not
something like pizza that they just have to pick up from the nearest place and
deliver to the customer. A small scratch can spoil the whole beauty of the
furniture. Initially, the company hired third-party service providers for logistics.
However, the services provided by these third-party vendors were pathetic.
As revealed by the founders, sometimes, the third-party delivery agents even
abandoned the ordered items in the lobbies of buildings if they did not fit in the
elevator. All these led Pepperfry to begin its own in-house logistic services to get
the products delivered timely and intact.

Ashish says that now Pepperfry’s damage rate between the production and
delivery to the customer is just 2%, while the global average is 6%.

Apart from all these challenges building a niche market of furniture and
furnishings and shifting the entire unorganized market online is itself a feat!

• PEPPERFRY – COMPETITORS :
Pepperfry's competitors in the furniture segment are:

➢ Livspace to name a few.

➢ Homelane
➢ Urban Ladder
➢ GoRootz

Furthermore, the furniture renting platforms that pose as fierce competitors to

Pepperfry are:

➢ Furlenco
➢ RentoMojo
➢ GrabOnRent
➢ CityFurnish
➢ Rentickle

Another looming concern is the entry of the world’s largest furniture retailer,
Ikea. The Swedish retailer began its operation in India in 2018. Ikea also has a
gripping backstory of rags-to-riches involving its founder Ingvar Kamprad.

• PEPPERFRY - MARKETING STRATEGY :

Marketing Strategy of PepperFry analyzes the brand with the marketing mix
framework which covers the 4Ps (Product, Price, Place, Promotion). These
business strategies, based on PepperFry marketing mix, help the brand succeed
in the market. Let us start the PepperFry Marketing Strategy & Mix to
understand its product, pricing, advertising & distribution strategies:
 ➢ PepperFry Product Strategy:

The product strategy and mix in PepperFry marketing strategy can be explained
as follows:

PepperFry is an ecommerce platform in India which focuses on selling furniture

and other household accessories. PepperFry identified that there is unfulfilled
consumer requirement of logistic support for movement of furniture from one
city to another and there is a business potential for a pan India furniture portal.
PepperFry began as an online marketplace platform where merchants can list
their furniture products for sales and PepperFry would additionally provide
logistic support in order fulfilment. The company later moved into providing its
expertise in packaging and photography. The company offers more than 1
million furniture products ranging from furnishing to kitchen and dining as a
part of its product offerings in its marketing mix.

➢ PepperFry Price/Pricing Strategy:

Below is the pricing strategy in PepperFry marketing strategy:

PepperFry does base its pricing strategy on discounted price but on customized
offering and comparison across assorted products in the process obtaining 40-
45% margin. Company believes unlike other e-commerce platform, furniture e-
tail is fragmented and PepperFry has to target a market which is largely
unorganised and hence discount pricing may not work

However, PepperFry prices its offering at competitive and affordable prices as a

pricing strategy in its marketing mix. The company also brings in sales discount
for limited windows to boost up sales and create buzz. PepperFry uses periodic
referral and discounted coupon codes for certain categories of product. It has
also collaborated with other credit and debit cards companies and offers special
discount to the partner credit card company’s card holders.

➢ PepperFry Place & Distribution Strategy:

Following is the distribution strategy in the PepperFry marketing mix:

PepperFry has covered more than 500 cities under its service offerings. The
company has 17 fulfilment hubs across the country. It has sold furniture
assembled in Jodhpur in Rajasthan to a customer in Mizoram covering 2664 km
for fulfilment in process. PepperFry owns 400 vehicles as on April 2016 for the
fulfilment of orders. The company has built the Padgha Warehouse, the largest
furniture warehouse in India. Most of the company’s warehouses are present in
Western and Southern parts of India. The company has opened 20 Studio
PepperFry across the country to enhance the customer experience and create a
pull for purchase from its online marketplace. The psyche of consumers in India
is to have physical look at the furniture before buying, these experience centres
helps PepperFry in building confidence towards its product among consumers.
Experience centres also bring in customers for its home décor business.

➢ PepperFry Promotion & Advertising Strategy:

The promotional and advertising strategy in the PepperFry marketing strategy is

as follows:

PepperFry invests heavily on advertisement as it tries to increase the brand

awareness level. Their marketing strategy is built around helping people to
make purchase decision. The company mostly advertises on TV. PepperFry also
advertises through paid print media and radio. In first few years its ad
campaigns were focussed on building the trust around the brand and online
purchase of furniture. Once they have reached optimal awareness among the
consumers later ad campaigns are more focussed on providing specific benefits
like looks and design of product. PepperFry is also utilizing digital media
platform for promoting its brand and business. As a part of the promotion
strategy the company ensures it presence for the people who actively
researching on the Internet to buy furniture and these target groups are
approached via performance marketing channels such as search engines and
Social Media. To create good impression only high definition images of products
are posted on the webpage. As per company’s research their 65% of the
customers are women who shop after 8 P.M on weekdays and on weekends and
accordingly company designs its promotional campaigns.

• PEPPERFRY - FUTURE PLANS :

The company has already achieved remarkable success and has added value to
the furniture and home décor industry. The company has recently added the
augmented reality (AR) features by which the customers can virtually place the
products in their homes and then make decisions. The company plans to utilize
such technological advancements to continue in the future as well. Pepperfry
has been able to achieve the trust of the customers which led the company to
stand on top in India.
Pepperfry is currently curating products from the leading manufacturers of
furniture and home décor items in 2021, and the company is eyeing to go after
the local and regional furniture manufacturers as well, to add more variety to its
collection. The company is also planning to partner with many local and regional
players ahead.

The online furniture retailing startup is eyeing an IPO in 2022, and will likely file
its DHRP with SEBI soon, as of July 30, 2022. "We are turning profitable and this
would be the right thing to do next", said the founders.
 SCUZO ICE ‘O’ MAGIC

• SCUZO ICE ‘O’ MAGIC – ABOUT :

Scuzo Ice 'O' Magic is a beloved dessert cafe headquartered in Okhla, Phase 2,
New Delhi. Established in September 2020, Scuzo has quickly gained popularity
among people of all ages. With its wide variety of delectable treats, including
refreshing popsicles, gelato, indulgent sundaes, and more, Scuzo Ice 'O' Magic
offers a delightful and guilt-free indulgence for dessert enthusiasts.

With a commitment to using natural ingredients and a passion for exceptional

dessert experiences, Scuzo has become a sought-after destination for those
seeking a memorable and enjoyable dessert experience.

• SCUZO ICE ‘O’ MAGIC – INDUSTRY:

The gelato and ice lolly market (also known as popsicles) has been a popular and
thriving segment within the frozen dessert industry. The demand for these
refreshing treats has been on the rise, driven by factors such as increasing
disposable income, changing consumer preferences, and the desire for
indulgent yet convenient options. Flavor innovation, a natural and artisanal
focus, health, and wellness considerations, and diverse retail channels have also
contributed to the market's growth.

It's important to note that the industry is subject to evolving consumer

preferences, market dynamics, and competition. The gelato and ice lolly market
may experience further changes and developments over the next few years,
driven by factors such as emerging trends, technological advancements, and
shifts in consumer behavior.
As for Scuzo Ice 'O' Magic, the company envisions expanding its presence
globally over the next 5 to 10 years. With a strong market position, a robust
product portfolio, and strategic partnerships, Scuzo anticipates entering new
markets and capitalizing on emerging trends. By continuously investing in
research and development, Gagan, the founder of Scuzo Ice 'O' Magic, is
confident that the company will remain at the forefront of innovation and
successfully meet the evolving needs of its customers.

• SCUZO ICE ‘O’ MAGIC - FOUNDER AND TEAM :

Gagan Anand is the founder of Scuzo Ice ‘O’ Magic.

Gagan Anand
Mr. Gagan Anand is the visionary and mastermind behind Scuzo Ice 'O' Magic,
India's pioneering Live popsicle concept and dessert café. Despite embarking on
his career at the young age of 17, Mr. Anand displayed exceptional
determination and managed to successfully complete his graduation and
master's while juggling part-time work.

Throughout his journey, Mr. Anand garnered invaluable experience and honed
his skills at renowned food establishments such as Pizza Hut, Keventers, Rasna
Buzz, and Gloria Jean's Coffee. His diverse background in the food industry
served as a solid foundation for his entrepreneurial endeavors and equipped
him with the necessary expertise to spearhead Scuzo Ice 'O' Magic.

Scuzo Ice 'O' Magic is powered by a dedicated team of 70+ professionals

stationed across different locations in India. Their collective efforts play a
pivotal role in driving the company's success and expansion nationwide.

• SCUZO ICE ‘O’ MAGIC - STARTUP STORY :

The decision to launch the Scuzo Ice 'O' Magic brand was driven by a desire to
provide a distinctive and exceptional experience to customers. The idea for
Scuzo Ice 'O' Magic originated from Gagan's childhood experiences and love for
sweets. Growing up, his mother would make jaggery, and he developed a strong
affinity for desserts.

Throughout his career, Gagan has had the opportunity to work with various F&B
brands, including Rasna Buzz. It was during this time that his childhood nostalgia
and the flashbacks of ice cream vendors triggered a moment of inspiration. This
eureka moment paved the way for the establishment of Scuzo Ice 'O' Magic.

Fueled by a passion and unwavering belief in the vision, Gagan embarked on the
journey of launching Scuzo Ice 'O' Magic and opened the first store in Netaji
Subhash Place, New Delhi, in November, following the first wave of the
pandemic. The aim of Scuzo Ice 'O' Magic is to provide a unique, enjoyable, and
guilt-free indulgence that aligns with the preferences and well-being of our
customers. This interactive and personalized experience has become the driving
force behind our business.

By introducing the concept of live popsicles and emphasizing the use of 100%
natural ingredients, the aim was to differentiate Scuzo Ice 'O' Magic from the
competition. The primary objective is to create a platform where people of all
age groups can indulge in lively and joyous sweet moments without concerns
about excessive sugar content or any adverse health effects. The commitment is
to offer healthier options without compromising taste or enjoyment. Their focus
on using natural products and ensuring a delightful experience for customers
sets Scuzo Ice 'O' Magic apart in the market.

• SCUZO ICE ‘O’ MAGIC - VISION AND MISSION :

Scuzo Ice 'O' Magic's long-term vision is to become the definitive global dessert
brand and the epitome of success in the frozen treats industry. The company
strives to deliver customers an unparalleled and blissful dessert experience that
surpasses all expectations while simultaneously fostering and empowering the
entrepreneurial spirit.

Their motto is to provide 'Wow and Joyful Dessert Experiences' and to inspire
and promote entrepreneurship.

• SCUZO ICE ‘O’ MAGIC - PRODUCT/SERVICE :

Scuzo Ice 'O' Magic offers a wide variety of delicious treats across seven
categories, including popsicles, gelato, sorbet, milkshakes, waffles, pancakes,
sundaes, and mocktails. With an extensive selection of approximately 90 unique
products, Scuzo strives to provide a diverse range of options to satisfy every
customer's taste buds.
While the initial focus was on popsicles, the product range was later expanded
to cater to a wider audience. By offering a variety of desserts, Scuzo aims to
attract and satisfy the diverse preferences of its customers.

The core value of the company lies in offering wholesome and natural products,
ensuring that customers can enjoy high-quality treats. Furthermore, Scuzo
prioritizes customers' individual dietary preferences by providing vegan and
sugar-free options to accommodate specific needs.

Innovatively, Scuzo combines traditional kulfi unit principles with innovative

technology in its popsicle churner unit. This unique approach allows the brand
to embrace the essence of traditional craftsmanship while harnessing the
benefits of modern advancements. The goal is to create a seamless fusion of
tradition and innovation, resulting in the production of exceptional, high-quality
popsicles.

• SCUZO ICE ‘O’ MAGIC - BUSINESS AND REVENUE

MODEL:
Scuzo Ice 'O' Magic has successfully set up 13 franchise outlets across India, with
the first franchisee opening in Super Mart 1, Gurgaon. Additional franchise
locations include Noida, Faridabad, Gujarat, Mizoram, and Andhra Pradesh. In
line with the company's growth strategy, there are ambitious plans to open 6–7
more outlets by July 2023. Expanding the franchise model is a key objective as
Scuzo Ice 'O' Magic aims to reach more customers and extend its presence
nationwide.

The stores have established a strong customer base, with an average of 2,500
visitors per day, amounting to around 30,000 customers per month.
Additionally, approximately 18,000 new customers are attracted each month,
showcasing the company's ability to expand its customer reach and maintain a
steady growth trajectory.

At Scuzo Ice 'O' Magic, a significant number of transactions are processed at the
stores. On average, each store handles approximately 65–70 transactions per
day. With a total of 12 stores, this amounts to approximately 780–840
transactions per day across all outlets. This consistent flow of transactions
reflects the popularity and demand for Scuzo Ice 'O' Magic products among its
valued customers.
 • SCUZO ICE ‘O’ MAGIC - LAUNCHING COMPANY
STRATEGIES :
When Scuzo Ice 'O' Magic initially launched, the company recognized the
importance of understanding the needs and requirements of the target
audience. A thorough market study was conducted to gain insights into what
potential customers were looking for in the industry. The decision was
strategically made to enter a marketplace where other established brands were
already present. This choice provided a built-in customer base and increased the
likelihood of attracting early adopters. By positioning Scuzo Ice 'O' Magic
alongside well-known brands like Giani, Baskin Robbins, and Naturals, the
company was able to leverage their existing customer base and increase its
visibility in the market.

Considering the limited marketing budget as a bootstrapped company, Scuzo Ice

'O' Magic had to be resourceful and find cost-effective strategies. One approach
that worked well was providing samples of the product to the crowd. This
allowed the company to showcase the quality and unique aspects of the
offering, enticing potential customers to try it out.

Through this approach, Scuzo Ice 'O' Magic was able to generate initial interest
and initiate word-of-mouth marketing. Satisfied customers who enjoyed the
product became advocates, spreading the word to their friends, family, and
social networks. This organic approach played a crucial role in gaining traction
and acquiring the company's first 100 customers.

• SCUZO ICE ‘O’ MAGIC - CUSTOMER ACQUISITION AND

RETENTION STRATEGY :
➢ Quality Products and Service: Providing high-quality, delicious treats and
delivering exceptional customer service is crucial for building a loyal
customer base and generating positive word-of-mouth.
➢ Targeted Marketing: Identifying the target audience and tailoring
marketing efforts to effectively reach them. This includes utilizing social
media, online advertising, and offline marketing channels to create
awareness and attract customers.
➢ Online Presence: Maintaining an engaging and visually appealing website
along with active social media profiles to showcase products, interact with
customers, and provide updates about new offerings and promotions.
 ➢ Partnerships and Collaborations: Collaborating with complementary
businesses or influencers to expand reach and attract new customers. This
can involve joint promotional campaigns, cross-selling opportunities, or
tie-ups with local events or organizations.
➢ Viral Marketing: Creating unique and memorable marketing campaigns
that have the potential to go viral, capturing the attention and interest of
a wider audience. This could involve creating engaging content, utilizing
storytelling techniques, or leveraging user-generated content.
➢ Customer Loyalty Programs: Implementing loyalty programs or referral
programs to incentivize repeat business and encourage customers to share
positive experiences with others.

Regarding the budget allocation for marketing and growth hacking, it would
vary from business to business based on their goals, resources, and market
conditions. Typically, businesses allocate a percentage of their revenue or a
fixed budget for marketing activities. The specific amount spent on marketing
would depend on various factors such as the scale of operations, growth goals,
competition, and available resources.

• SCUZO ICE ‘O’ MAGIC – GROWTH :

Scuzo Ice 'O' Magic was bootstrapped with an initial investment of 70 Lakhs
from Gagan's personal savings. The company has experienced significant growth
since its establishment, with a current turnover of Rs 5.3 crore. In the period
from April 2022 to March 2023, the company achieved a turnover of Rs 4.60
crore, showcasing a consistent year-on-year growth rate of 30%.

To cater to a wider customer base, Scuzo Ice 'O' Magic is accessible through
popular food delivery platforms such as Swiggy and Zomato. Excitingly, it will
soon be available on the Open Network for Digital Commerce (ONDC) as well.
While these platforms currently contribute 25% of the overall business, the
company aims to surpass this figure to reach its desired target.

• SCUZO ICE 'O' MAGIC - CHALLENGES FACED AND

OVERCOMING STRATEGIES :
One of the most challenging aspects encountered by Scuzo Ice 'O' Magic was
the lack of customer awareness about the benefits of Gelato and natural fruit
popsicles in comparison to traditional ice cream. Customers frequently
compared the products with those of nearby ice cream brands and perceived
them as more expensive. Despite ongoing efforts to educate customers, it was
challenging to convey the value proposition during peak hours, resulting in
dissatisfied customers who evaluated the brand solely based on value for
money.

Overcome this challenge, Scuzo Ice 'O' Magic implemented several strategies:

▪ Education and Training: From the beginning, the company made

educating customers about the unique qualities of Gelato and natural fruit
popsicles a top priority. Staff members were trained to engage with
customers and explain the differences, emphasizing the superior taste,
freshness, and natural ingredients used in the products. Visually appealing
displays and signage were created to highlight the health benefits and
premium quality of the offerings.
▪ Product Sampling and Tastings: Scuzo Ice 'O' Magic introduced product
sampling and tastings as a way to provide customers with a firsthand
experience of the superior taste and quality of the Gelato and natural fruit
popsicles.
▪ Workshops and Interactive Sessions: Hosting workshops and interactive
sessions proved to be an effective strategy to educate customers about
the art of Gelato making and the benefits of consuming natural fruit
popsicles.
▪ Personalized Approach: Scuzo Ice 'O' Magic realized that solely relying on
traditional marketing methods such as print advertisements and flyers did
not yield the desired results. Instead, a more personal and engaging
approach was necessary to effectively communicate the unique qualities
of the products.

• SCUZO ICE 'O' MAGIC – FUNDING :

Scuzo Ice 'O' Magic is actively seeking external funding from potential investors
to support its growth and expansion plans. The company aims to secure
approximately $1 million in investment, which is equivalent to around Rs 7-8
crore. Out of the funding obtained, approximately half will be allocated towards
B2B and B2C marketing initiatives, focusing on enhancing brand visibility. The
remaining funds will be utilized for crucial backend operations, franchise
development, and infrastructure enhancements.
By securing this investment, Scuzo Ice 'O' Magic intends to accelerate the
brand's growth and expand its market presence. The funds will enable the
company to execute robust marketing campaigns, strengthen its supply chain,
develop new franchise opportunities, and enhance its operational
infrastructure. This strategic allocation of funds will drive revenue generation,
boost brand recognition, and facilitate overall business expansion.

• SCUZO ICE 'O' MAGIC - MARKETING CAMPAIGNS :

Scuzo Ice 'O' Magic has implemented several sustainable initiatives to reduce
environmental impact and promote responsible consumption. One notable
endeavor is the development of rice straws flavored and colored with edible
ingredients. These rice straws offer a safe option for consumption and
contribute to environmental conservation.

An exciting addition to edible food packaging is the introduction of edible

spoons designed specifically for enjoying gelato. This innovative concept allows
the company to completely eliminate the use of plastic cutlery at its stores. By
embracing this edible alternative, Scuzo Ice 'O' Magic aims to inspire customers
to make conscious choices while savoring their meals.

The edible spoons have received tremendous positive feedback, making them
one of the company's most successful marketing campaigns. Scuzo Ice 'O' Magic
takes pride in offering a sustainable and enjoyable experience to customers
while simultaneously contributing to the reduction of plastic waste.

• SCUZO ICE 'O' MAGIC – COMPETITORS :

Scuzo Ice 'O' Magic faces competition from established brands such as Gelato
Vinto, Dolce Gelato, Naturals Ice Cream, and Emoi Popsicles in the market.
However, Scuzo sets itself apart from these competitors by offering superior
quality and value for money. Numerous customers who have experienced
popsicles from both Scuzo and its competitors have provided feedback affirming
Scuzo's superiority.

Despite the presence of well-known players in the industry, Scuzo has managed
to carve a niche for itself by consistently delivering exceptional-quality products.
Customers have repeatedly expressed their satisfaction with Scuzo's popsicles,
demonstrating a clear preference for Scuzo over its competitors.
This positive feedback further strengthens Scuzo's position as a leading brand
known for its product quality and customer satisfaction. The company's
commitment to excellence distinguishes it from direct competitors, cementing
its reputation as the preferred choice for popsicle enthusiasts.

• SCUZO ICE 'O' MAGIC - FUTURE PLANS :

Within a span of three years, Scuzo has successfully established 13 stores, with
four of them located in Delhi, NCR. Excitingly, the brand has plans to expand
further by opening seven new stores across various regions of the country in the
upcoming month. Currently, Scuzo's primary focus is on metro cities and Tier 2
cities. However, the brand also intends to venture into Tier 3 cities in the future,
aiming for broader market penetration.

The company is actively working on launching its retail model, which indicates a
strategic shift in its business approach. The goal is to open a total of 100 outlets
across India by 2024. This expansion will consist of a combination of franchise
and company-owned stores, allowing Scuzo Ice 'O' Magic to effectively reach
and cater to a diverse range of customers throughout the country.