Aravind is an Indian computer programmer, researcher, and scientist, as well as the CEO and co-founder of Perplexity.ai. He grew up in Chennai and studied Electrical Engineering at IIT Madras. Srinivas started his career as a research intern at OpenAI and later interned at Google’s DeepMind and later Google itself. He later shifted to the USA to do his Ph.D in AI and deep learning from the University of California, Berkeley. His research was based on reinforcement learning, contrastive learning, and deep learning.
In 2022, Srinivas, along with Denis Yarats, Andy Konwinski, and Johnny Ho, co-founded Perplexity.ai.
Aravind Srinivas – Biography
Name
Aravind Srinivas
Born
1994
Birth Place
Chennai, India
Nationality
Indian
Education
IIT Madras (Electrical Engineering) & University of California, Berkeley ( Ph.D)
Occupation
Computer Programmer, Reasearcher, Scientist, Co-Founder and CEO of Perplexity.ai
Aravind Srinivas – Early Life and Education
Aravind grew up in Chennai, India, and earned a Dual Degree (B.Tech + M.Tech) in Electrical Engineering from the Indian Institute of Technology, Madras. He started interning at OpenAI and later went on to intern at Google’s DeepMind and, Google. Soon, he shifted to the United States to complete his Ph.D. in Computer Science at the University of California, Berkeley, in 2021. His research focused on Contrastive Learning, Reinforcement Learning, and Transformers for image and video generation. He also taught Deep Unsupervised Learning in the Spring of 2020 and 2021.
Aravind Srinivas – Career Highlights
Aravind spoke about his drive to learn about deep learning and entrepreneurship. This led him to intern at DeepMind. It was during this time that he read about Larry Page, the founder of Google, and the evolution of PageRank. This led to him interning with the inventor of Transformers, Ashish Vaswani, where they worked on developing deep learning models for vision and making transformers more universal for computation. This drew Srinivas to build a product that provides users with faster, more accurate, and truthful answers. This is what led to the creation of Perplexity AI.
The creation of Perplexity AI
In 2022, Aravind co-founded Perplexity AI with Denis Yarats, Andy Konwinski, and Johnny Ho. The company is working towards building a trusted information service. Perplexity AI works mainly as a search engine that uses advanced AI technology to answer user queries and has the ability to discover AI use cases and challenge other tools such as ChatGPT and Google Search. It uses mostly conversational search engine options that let users ask questions and receive accurate answers with online citations. The citations work as user guides to provide truthful answers and provide them with additional reading options.
In 2024, the company bagged $73.6 million or INR 600 crore in funding from US chip maker Nvidia and Amazon founder Jeff Bezos. The funding was led by Institutional Venture Partners with additional funding from Databricks Ventures and NEA. The AI was valued at $520 million. It also has an AI assistant named Copilot.
Aravind Srinivas – Angel Investor
Since 2023, Aravind has been working as an angel investor as well. His early angel investments have focused on companies that develop AI capabilities or approach these in multiple ways. Some of those investments include:
ElevenLabs: Working on text-to-speech and voice cloning software
Pika: Developing a text-to-video platform
Suno: Developing a text-to-music platform
Julius: Developing an AI data scientist for the analysis of multiple data sources
Extropic: Developing novel hardware for generative AI computation
Aravind Srinivas – Awards & Recognitions
Some of the awards and recognitions that Aravind Srinivas has won are:
Viterbi India Fellowship: Received by Indo-US Science and Technology in May 2015
Indian National Mathematics Olympiad Merit Awardee: National Board of Higher Mathematics
Kishore Vaigyanik Protsahan Yojana: Department of Science and Technology, from the Government of India
National Talent Search Scholarship: Government of India
Aravind Srinivas – Facts
Aravind won the NTS scholarship from the Government of India and the Kishore Vaigyanik Protsahan Yojana scholarship from the Department of Science and Technology
He won the merit award at the Indian National Mathematical Olympiad, from the National Board for Higher Mathematics (NBHM)
He went into depression as he could not secure admission in Computer Science and was admitted into electrical engineering at IIT Madras
His Cumulative Grade Point Average (CGPA) was 0.01 lower than the required amount, so he lost his chance to change his course
In 2015, he received the IUSSTF-Viterbi Program Fellowship, that is a program partnered with the Indo-US Science and Technology Forum and the Viterbi School of Engineering, University of Southern California (USC)
He was recognized by John Schulman, the inventor of ChatGPT, and got his first internship at OpenAI in 2018
In 2019, he was a research intern at DeepMind and at Google from 2020-2021
In 2024, he signed up for the game show Squid Game (Season 3)
In Nikhil Kamath’s podcast, Aravind shared how his mother’s dream of him studying at IIT Madras played an important role in his educational and career choices, influencing his path toward tech and research.
Aravind Srinivas is an Indian innovator and the co-founder and CEO of Perplexity AI.
What is Perplexity AI?
Perplexity AI is a company focused on building conversational AI search engines that provide direct answers with source citations, unlike traditional search engines.
What is Srinivas’s contribution to the field of AI?
He is considered a rising star in the AI field, pushing the boundaries of conversational search and information access.
What is Aravind Srinivas’s education?
Aravind earned a Dual Degree (B.Tech + M.Tech) in Electrical Engineering from the Indian Institute of Technology, Madras. He later completed his Ph.D. in Computer Science at the University of California, Berkeley, in 2021, where his research focused on Contrastive Learning, Reinforcement Learning, and Transformers for image and video generation.
Where was Aravind Srinivas born?
Aravind Srinivas was born on June 7, 1994, in Chennai, Tamil Nadu, India, where he began his early education before moving on to pursue higher studies and research in the United States.
Dreaming of tapping into the land of opportunity? The United States, with its booming economy and entrepreneurial spirit, is a magnet for ambitious minds worldwide. But as a non-resident, you might be wondering: Can I really start a business in the U.S.? The answer is a resounding yes! And guess what? It’s not as daunting as it sounds. This guide is your golden ticket to hovering through the American business scene, even if you’re thousands of miles away. No matter who you are: someone planning to relocate or run your venture from abroad, we’ll walk you through every step, from choosing the right business structure to opening a U.S. bank account. So, grab a cup of coffee, and let’s turn your American dream into a thriving reality.
Why the U.S.? The Allure of the American Market
Let’s start with the big question: Why the U.S.?
The U.S. market is a behemoth – home to over 330 million consumers with diverse tastes and needs. Irrespective of what you’re selling artisanal coffee, tech gadgets, or consulting services, there’s a niche waiting for you. Add to that the country’s robust infrastructure, advanced technology, and business-friendly policies, and you’ve got a recipe for success.
But here’s the kicker: you don’t need to be a U.S. citizen to start a business here. That’s right. Non-residents too, can own and operate businesses in the U.S. However, there are a few nuances to understand, like visas, taxes, and state-specific regulations. Don’t worry; we’ve got you covered.
7 Steps to Start a Business in the U.S. as a Non-Resident
Before you dive in, you’ll need to decide on the legal structure of your business. This decision will impact everything from taxes to liability, so choose wisely. Here’s a quick rundown of your options:
1.Limited Liability Company (LLC)
The LLC is a fan favourite among non-residents, and for good reason. It’s flexible, easy to manage, and offers personal asset protection. Plus, you can choose how you want to be taxed—either as a pass-through entity or a corporation.
Pros
Personal assets are shielded from business liabilities.
Minimal compliance requirements compared to corporations.
You can manage it yourself or hire someone to run it.
Cons
Some states have restrictions on foreign-owned LLCs.
If you’re planning to go big – in the lines of venture capital, investors, or going public – a C Corporation might be your best bet.
Pros
Unlimited growth potential (you can issue multiple classes of stock).
Attractive to investors.
Limited liability for shareholders.
Cons
Double taxation (profits taxed at both corporate and individual levels).
3. S Corporation
While S Corporations offer pass-through taxation, they’re generally not an option for non-residents. Why? Because shareholders must be U.S. citizens or residents.
Step 2: Pick the Perfect State for Your Business
Here’s a fun fact: you don’t need to live in the U.S. to start a business here. In fact, you can choose any state for incorporation, regardless of where you plan to operate. But not all states are created equal. Some are more business-friendly than others.
Top States for Business Registration
Delaware: The gold standard for incorporation. Known for its flexible corporate laws and specialized Court of Chancery for business disputes. It is a tax haven too, so win-win!
Nevada: Another tax haven with no state corporate income tax and strong privacy laws.
Wyoming: Low fees, no corporate income tax, and excellent asset protection.
Pro Tip: If you incorporate in one state but operate in another, you’ll need to “foreign qualify” in the state where you do business. This means extra paperwork and fees, so plan accordingly.
Step 3: The Registration Process
Now that you’ve chosen your business structure and state, it’s time to make it official. Here’s how:
Choose a Unique Business Name: Make sure it’s available and doesn’t infringe on any trademarks.
Appoint a Registered Agent: This person or company will receive legal documents on your behalf.
File Formation Documents: Submit the necessary paperwork (like Articles of Organization for LLCs) to the state.
Get an EIN: This is your business’s tax ID number, essential for opening a bank account and filing taxes.
Create Operating Agreements or Bylaws: These documents outline how your business will be run.
Obtain Licenses and Permits: Depending on your industry, you may need specific licenses to operate.
Here’s where things can get tricky for non-residents. U.S. banks have strict regulations, and not all are willing to work with foreign business owners. But don’t fret—there are ways around this.
What You’ll Need:
EIN
Business formation documents
Proof of identity (passport)
Proof of address (both in your home country and the U.S.)
Pro Tip: Consider working with international banks or online banks that cater to non-residents.
Step 5: Understand Visa Options
If you plan to manage your business from within the U.S., you’ll need the right visa. Here are a few options:
E-2 Treaty Investor Visa: Perfect for those making a substantial investment in a U.S. business.
L-1 Intracompany Transferee Visa: Ideal if you’re expanding an existing business to the U.S.
EB-5 Immigrant Investor Visa: Offers a direct path to permanent residency for those willing to invest 1.8million(or1.8million(or900,000 in targeted areas).
Step 6: Tackle Taxes Like a Pro
Ah, taxes – the inevitable part of doing business. As a non-resident, you’ll need to hover through both federal and state tax obligations.
Key Considerations:
Federal income tax
State income tax (if applicable)
Sales tax (if you’re selling goods)
Employment taxes (if you have U.S. employees)
Pro Tip: Feel free to consult with a tax professional who specialises in international business to avoid costly mistakes.
Step 7: Build Your U.S. Presence
Last but not least, it’s time to establish your business’s credibility in the U.S. market.
How to Do It:
Get a professional U.S. business address (virtual offices work great).
Set up a local phone number (VoIP services are your friend).
Build a strong online presence with a professional website and active social media profiles.
Network like crazy! Join local business associations and attend industry events. Nothing beats networking – absolutely nothing.
Final Thoughts
Starting a business in the U.S. as a non-resident may seem like a mountain to climb, but with the right guidance, it’s entirely achievable. The key is to do your homework, seek professional advice when needed, and stay persistent. Remember, every big business started as a small idea. So, take that first step, and who knows? Your American dream might just be a few forms and a phone call away. And, yes – if you’re reading this, then chances are that you’re already ahead in this marathon. Yes, not a race – a business in the US is a long term game & when you have access to resources like Startuptalky – you are more likely to win (winks).
Yes, non-residents can absolutely start and own businesses in the U.S. You don’t need to be a U.S. citizen or resident to do so.
What is an EIN, and do I need one?
An EIN is like a Social Security number for your business. You’ll need one if your business has employees, operates as a corporation or partnership, or if required by your bank. Many non-resident-owned businesses will need an EIN.
Do I need a U.S. bank account?
While not strictly required to form a business, opening a U.S. business bank account is highly recommended for managing your finances and transactions.
The quick commerce industry is one of the fastest-growing industries in India, and Zepto has fueled this industry with its innovative marketing strategies. Zepto, India’s fastest online grocery delivery app, has disrupted the entire quick commerce market in a short period.
Convenience and super-fast delivery are the two main aspects of Zepto’s incredible marketing strategy. It is on its way to becoming India’s second-youngest unicorn. Since its inception, it has expanded its footprint in cities like Bangalore, Chennai, Delhi, Ghaziabad, Noida, Gurgaon, Hyderabad, Kolkata, Pune, and Mumbai. Zepto’s business strategy focuses on quick commerce, ensuring 10-minute deliveries, using dark stores for faster order fulfillment, and offering a wide product range at competitive prices to attract urban consumers.
There are a lot of interesting things you will get to know in this article, about the marketing strategy of Zepto, and how it acquired and retained customers where other big players are struggling to do so.
Zepto stands out in the market with its 10-minute grocery delivery, catering to time-conscious customers. Offering a diverse range of high-quality products, including groceries, fresh produce, household items, and personal care products, Zepto ensures customer satisfaction and encourages repeat business. The introduction of private-label products enhances brand loyalty by providing quality at competitive prices, making Zepto a compelling choice in the fast-paced online grocery landscape.
Price
Zepto adopts a strategic pricing strategy to enhance its market position by offering competitive pricing that attracts customers and ensures a sustainable market share. The company uses dynamic pricing to adjust its prices in response to demand and competition, thus optimizing revenue and profitability. Moreover, Zepto actively engages customers through various promotional offers, including discounts and coupons, aimed at not only drawing new patrons but also fostering loyalty and encouraging repeat business.
Place
Zepto primarily operates through its mobile app, which is designed to make grocery ordering quick and easy for busy customers. The company has strategically located dark stores to ensure speedy and efficient order fulfillment. Zepto has also partnered with a variety of delivery services to guarantee that orders are delivered promptly to customers’ doorsteps. This integrated approach demonstrates Zepto’s dedication to providing convenience and efficiency in the grocery delivery industry. Zepto’s business strategy revolves around offering ultra-fast delivery, with a focus on customer convenience and satisfaction.
Promotion
Zepto employs a diverse marketing approach, utilizing digital channels like social media and influencer marketing, alongside out-of-home advertising for brand visibility. Positive media coverage enhances its reputation, while meme marketing fosters audience engagement. A referral program incentivizes customer loyalty, contributing to both acquisition and retention. Zepto’s concise and varied strategies solidify its dynamic presence in the market.
Zepto mainly targets busy people living in cities who want quick grocery deliveries. Its customers include young professionals, students, and families who need things fast. The service is for people who like using technology to save time. Zepto focuses on city areas, offering a simple online shopping experience.
Zepto Marketing Strategy
Zepto’s marketing strategy has played a crucial role in growing its business to this extent. A lot of innovative steps have been taken by the company to support and boost its business growth. Zepto’s target audience is generally young adults and the modern generation. Here is the detailed overview you must read.
10-Mins Delivery Strategy
The idea of online grocery delivery is not new. Startups like Dunzo and Blinkit are already providing these services. The fact that distinguishes Zepto from all its competitors is its 10-minute delivery of groceries and other products. You might have heard about Zomato Instant, which provides food delivery within 10 minutes, but Zepto is the first player in the grocery delivery segment to offer a 10-minute grocery delivery service.
The idea of 10-minute grocery delivery is unique, but it was not that easy to implement. To fulfill its promise to deliver groceries in the specified time, Zepto introduced the concept of the dark store model. The dark store is like a fulfillment center for Zepto; it is not accessible to the public but is efficient enough to fulfill orders rapidly.
Artificial intelligence is used by Zepto to pick, pack, and transport orders in leaps and bounds. Whenever any customer places an order, a person with a tablet is assigned to pick up and pack the order within 60 seconds. It means that at the time you make the payment, someone is already preparing your order for dispatch. The company claims that 8 minutes and 40 seconds is the average delivery time they have achieved.
Zepto operates its dark store delivery within a 3 km radius, and it doesn’t penalize its delivery boy for late delivery.
Discounts are a way to attract customers, but as a new player in the segment, offering huge discounts was not a sustainable option for Zepto. Hence, the 10-minute delivery strategy comes out to be a panacea for Zepto.
There is not only one thing responsible for the success of Zepto, but an incredible advertising strategy has also played an important role in the success. L&K Saatchi and Saatchi is an advertising agency that was assigned to advertise Zepto and build a strong brand image in front of consumers. The main theme of all the ads is to emphasize the 10-minute delivery of Zepto.
Zepto’s ads are attention-grabbing ads that suddenly capture the focus, and this is what every brand wants. When a boy suddenly wakes up and runs toward the door, it creates a question in the minds of viewers about why he is running. The twist and excitement of the ad make it capable of grabbing the attention of viewers.
If I try to summarize the above ad in a single sentence, then it is like this: From the time you wake up until the time you sleep, every essential product will get delivered to your doorstep within 10 minutes.
Each ad that was created is meant to make the consumer feel how Zepto is capable of changing their daily grocery shopping habit. Since advertising is the best way to market the product and build a strong brand image, Zepto has fully utilized the benefits of marketing.
Advertising was not only done on social media channels, but it also planted its hoardings in the streets of cities in which Zepto’s services are operational.
Zepto Hoarding Advertising
Social Media Meme Marketing
In today’s generation of technology and innovation, we cannot ignore the power of social media. There is a huge chance you’ll find your target audience on the social media platform. Hence, every brand is focusing on social media marketing. Zepto is also not behind the race; it leverages the social platform to engage its audience through meme marketing.
For the recently released movie ‘Avatar: The Way of Water,’ Zepto created a meme to grab the consumer’s attention by following the ongoing trend. It’s just one example, but if you visit Zepto’s social media page, you’ll find plenty of such memes.
Zepto Meme Marketing | Avatar: The Way of Water
Meme marketing is a trend today because people often share memes with their loved ones. This will help the brand get some organic reach and, at the same time, promote the brand. Zepto knows the power of memes very well. That’s why if you open their page on any platform like Facebook, Instagram, and Twitter, you’ll find amazing memes.
Th has gained a lot of positive feedback from customers. Along with meme marketing, they sometimes collaborate with famous social media influencers to make videos for them. This tactic helps to create a loyal fanbase and also helps the brand image flourish.
Micro-moments are key moments in a customer’s journey where brands can influence buying decisions. Zepto understands this and focuses on sending the right messages at the right time to connect with customers. Studies show that over 150 billion mobile micro-moments happen every day, influencing more than 70% of purchases. Brands using this approach see a 74% success rate in increasing revenue.
Customer Acquisition and Retention Strategy
Players in the quick commerce industry like Dunzo, Swiggy Instamart, and Blinkit are well-funded and established. These big giants have already acquired a huge market share in the segment by offering huge discounts and other offers. So it was not easy for Zepto to acquire customers and retain them.
Discounts are not the only things that attract consumers. Consumers are always hungry for something new, and exactly here, Zepto played its game. Acquisition of customers and retaining customers are two different things. Other players in the segment have easily acquired customers but struggled to retain them.
Customers are used to switching platforms and ordering items from the app, where the discount is heavy. In the case of Zepto, it has given discounts and at the same time provided high-speed free delivery. It helps to enhance Zepto’s retention rate significantly.
No other players in the segment were making that fast delivery. This eventually leads to an increase in Zepto’s consumer base.
Digital Marketing
Zepto uses digital marketing to reach busy customers with fast and targeted ads. They focus on social media platforms like Instagram and Facebook to promote quick delivery and special offers. Zepto also uses precision messaging or micro-moments to engage customers when they are likely to make a purchase. Through online campaigns, Zepto builds brand awareness and encourages customers to use their service for fast grocery deliveries.
Referral Programs
Zepto’s referral program plays a crucial role in its successful marketing strategy. The program offers unique codes to its users for sharing, which incentivizes both existing and new users with rewards such as discounts. This helps in cost-effective customer acquisition and increases customer retention. The program’s seamless integration with social media, multiple reward options, and gamification elements make it a dynamic and impactful tool for Zepto’s growth and customer loyalty.
Beyond transactional benefits, Zepto’s referral initiative is a brand-building powerhouse, fostering advocacy and community engagement. By creating a positive customer experience and utilizing word-of-mouth influence, the program stands as a testament to the brand’s commitment to customer satisfaction and strategic marketing prowess.
Partnerships with Influencers
Zepto partners with social media influencers who create authentic content to showcase its services. This helps Zepto build trust, connect with specific audiences, and reach more customers. This approach has fueled rapid growth, with the company raising over $300 million in just one year, emphasizing its focus on long-term customer relationships.
boAt, India’s leading audio brand, has teamed up with Zepto to bring high-quality audio products to your doorstep in just 10 minutes. This partnership combines boAt’s top-notch audio expertise with Zepto’s quick delivery, making it easier to enjoy music, movies, podcasts, and more. Whether it’s a party, a podcast, or binge-watching, boAt and Zepto ensure the perfect audio experience is just a tap away.
A marketing campaign is an integral part of any brand’s effort to increase its visibility and create brand awareness. The same is true for Zepto. In the IPL 2022, Zepto created and ran a marketing campaign that truly had a new approach.
Most of the time, we have faced the issue of time stretching in different places like airports, hospitals, and restaurants. Because we usually wait for a long time in these places, it became quite common for us, but Zepto addressed this issue and showcased it in its campaign in such a way that, at the same time, it also represented the 10-minute delivery promise of Zepto.
In this campaign, three famous singers—Shankar Mahadevan, Usha Uthup, and Kailash Kher—have given their incredible voices. Three ads have been created for this campaign with the voices of these three singers. They have stretched the time with their voices in such a way that it shows our habit of waiting. At the same time, Zepto implements its tagline of 10-minute delivery.
L&K Saatchi and Saatchi created this campaign very beautifully, and the whole marketing campaign turned out to be a huge success for Zepto.
Zepto Marketing Strategy – Jet-Set-Go
In this brand campaign, Zepto has come up with a significant collaboration featuring renowned cricketer Jasprit Bumrah as the brand ambassador. Developed by L&K Saatchi & Saatchi, the ‘Groceries delivered at Bumrah Speed’ campaign embodies speed, precision, consistency, and rigor. This initiative not only introduces Indian audiences to cutting-edge special effects but also promises an experience comparable to the grandeur of cinema.
The campaign’s focal point will be on Disney+ Hotstar, other leading OTT platforms, Zepto’s application, social media channels, and various digital platforms. Outdoor advertising will be prominently displayed across major cities where Zepto operates, ensuring widespread visibility and engagement.
Zepto Marketing Strategy – Bus Mein Seat Nahi Milega
Zepto’s ‘Nahi Milega’ brand campaign underscores its commitment, emphasizing that while life may present unattainable challenges, unlimited free deliveries on Zepto are certain.
Zepto adopted an unconventional approach by introducing Uncle Ji, a character from Delhi, several weeks before unveiling their brand campaign. The intention was to disrupt social media with Uncle Ji’s distinctive personality, straightforward expressions of reality, and the recurring catchphrase ‘Nahi Milega’ (won’t be available).
Zepto said Uncle Ji’s character achieved remarkable organic traction, accumulating 10 million impressions with a substantial 10% engagement rate across all social media platforms. Uncle Ji trended at #6 on Twitter and received endorsements from popular Twitter celebrities and Instagram meme pages, solidifying his status as a cultural icon in India.
Zepto USP
Zepto’s business model focuses on customers and offers instant delivery, setting it apart from competitors. The app is known for being the fastest, delivering groceries in as little as 10 minutes, with a claimed average time of 8 minutes and 47 seconds. When users place an order, it’s already on its way. Zepto also offers free shipping, unlike Amazon Fresh and Instacart, which charge delivery fees. Despite offering free delivery, Zepto doesn’t raise product prices and provides great discounts on groceries.
Conclusion
Zepto is a young startup, and it has achieved this success in a short period of time because of its incredible marketing strategy. Above are a few insights into Zepto’s marketing strategy that give you an overview of how a business can build a strong market presence and increase its visibility.
FAQs
What are the key components of Zepto marketing strategy?
The key components of Zepto’s marketing strategy include its 10-minute delivery approach, advertising and branding tactics, and social media meme campaigns, all of which contribute to the company’s success.
How does Zepto retain its customers?
In the case of Zepto, it has given discounts and at the same time provided high-speed free delivery. It helps to enhance Zepto’s retention rate significantly.
How does Zepto provide fast delivery?
To fulfill its promise to deliver groceries in the specified time, Zepto introduced the concept of the dark store model. It is like a fulfillment center for Zepto that is not accessible to the public but efficient enough to rapidly fulfill orders.
What is Zepto tagline?
Zepto’s tagline is Groceries delivered in 10 minutes.
What is USP of Zepto?
Zepto’s USP is its ultra-fast delivery, providing groceries in as little as 10 minutes, along with free shipping and great discounts.
What is Zepto pricing strategy?
Zepto uses a competitive pricing strategy, offering groceries at affordable rates with minimal delivery fees to attract price-sensitive customers while ensuring fast delivery for added value.
PALMONAS, India’s leading demi-fine jewellery brand, has secured ₹1.26 crore in funding from Namita Thapar, Executive Director of Emcure Pharmaceuticals, and Ritesh Agarwal, Founder of OYO, on Shark Tank India Season 4. The investment, made in exchange for a 1% equity stake, marks a significant achievement for the brand, which has been redefining the affordable luxury jewellery market in India.
PALMONAS’ Pitch Wins Over the Sharks
The pitch by PALMONAS’ founders, Amol Patwari and Pallavi Mohadikar, captured the attention of the investors, who recognised the brand’s potential in the fast-growing demi-fine jewellery segment. With the backing of two seasoned entrepreneurs, PALMONAS aims to expand its retail footprint, enhance technological capabilities, and scale its international presence in markets such as the USA, Middle East, and Southeast Asia.
The brand has already gained great popularity with consumers who seek high-quality yet affordable jewellery. Shraddha Kapoor, who joined as a Co-founder in 2024, has played a key role in promoting the brand’s visibility and appeal.
Expressing her excitement about the brand’s journey, Shraddha Kapoor said, “Jewellery should be like your second skin—easy to wear and effortless. PALMONAS is bringing luxury jewellery to everyone at an accessible price, and I am thrilled to be part of this transformation. With the support of Shark Tank India, we are set to redefine how India wears jewellery.”
Strategic Growth Plans
The funds secured will be channelled towards:
Retail Expansion: Establishing exclusive experience stores in major metropolitan cities to strengthen offline presence.
Global Market Penetration: Entering high-potential markets like the USA and the Middle East.
Technology Advancements: Enhancing AI-driven personalisation to offer tailored jewellery recommendations for customers.
Co-founder Amol Patwari highlighted the impact of the funding, stating, “Securing this investment from Namita Thapar and Ritesh Agarwal is a testament to PALMONAS’ vision and the demand for demi-fine jewellery. With Shraddha Kapoor as a Co-founder, we are confident about accelerating our growth and making premium jewellery accessible to a wider audience.”
Founders’ Journey and Market Potential
PALMONAS was founded with the idea of creating stylish, durable, and affordable demi-fine jewellery using surgical-grade stainless steel plated with 18k gold. This innovative approach has allowed the brand to carve a niche in the jewellery market.
The global demi-fine jewellery market was valued at $3.33 billion in 2024 and is expected to grow to $3.59 billion in 2025. PALMONAS aims to capitalise on this trend by expanding its product range and leveraging Shraddha Kapoor’s influence to reach a broader audience.
A New Chapter for PALMONAS
Pallavi Mohadikar, Co-founder of PALMONAS, summed up the brand’s aspirations: “Shark Tank India was more than just funding; it was about showcasing the potential of demi-fine jewellery in India. With this investment and mentorship from Namita and Ritesh, we are prepared to take PALMONAS to the next level.”
With five retail stores launched in just three months and a fresh infusion of funds, PALMONAS is poised for exponential growth. As it continues to bridge the gap between fine and fashion jewellery, the brand remains committed to making luxury accessible to all.
Traveling is an exciting experience that often leads to the birth of innovative business ideas, especially for entrepreneurs interested in tapping into the lucrative and ever-evolving travel industry. In today’s technologically advanced world, there is no limit to how entrepreneurs can leverage technology to enhance travel experiences.
The possibilities are endless for travel businesses, from cutting-edge apps to VR experiences. While these are great options, traditional methods still have value. Innovative approaches that cater to client preferences, interests, and budgets can differentiate a travel agency from competitors. Balancing modern and traditional methods is critical to offering a unique experience that meets client needs. In this article, we’ll explore some of the best tour and travel business ideas that promise profitability and the opportunity to fuel your passion for exploration and adventure
$10 Trillion Economy : How Tourism Sector make India Economic Superpower by 2030? | Future of India
Travel Blogging and Vlogging
In the digital age, travel blogging and vlogging have emerged as powerful platforms for sharing your adventures and inspiring others. By leveraging your storytelling skills, photography, and videography talents, you can build a loyal following of travelers eager to experience the world through your eyes. Monetize your blog or vlog through advertising, sponsorships, affiliate marketing, and even the sale of digital products, such as e-books or travel guides.
To succeed as a travel blogger or vlogger, developing a solid personal brand, creating consistently high-quality and engaging content, and fostering a genuine connection with your audience is essential. Leveraging social media and strategic partnerships can also help drive traffic and expand your reach.
The key is to find your unique voice and perspective. Whether it’s highlighting off-the-beaten-path destinations, providing in-depth cultural insights, or inspiring adventurous outdoor experiences, your ability to captivate and inspire your audience will be the foundation for building a successful, profitable travel-focused digital content business.
Establishing a travel agency can be a rewarding business venture for those with a deep understanding of the industry and a knack for curating exceptional travel experiences. As a travel agent, you can offer personalized itinerary planning, group travel coordination, and specialized services catered to niche markets, such as adventure, luxury, or sustainable travel. Leveraging your industry connections and expertise can help you stand out in a competitive landscape.
By taking the time to understand your clients’ unique preferences, budgets, and travel goals, you can craft customized itineraries that maximize their experience and satisfaction. This level of personalization is difficult for online travel booking platforms to replicate, and it positions you as a trusted advisor rather than a mere booking agent. Having a travel agency is one of the traditional business ideas in India.
Establishing strong industry connections is also crucial for the success of a travel agency. Building relationships with airlines, hotels, tour operators, and other travel providers can give you access to exclusive deals, priority bookings, and insider information that you can pass on to your clients. These connections can be a competitive advantage, especially for smaller, independent agencies.
Becoming a travel photographer can be thrilling and lucrative for the visually inclined. Capture the essence of destinations, cultures, and experiences, and sell your stunning images to travelers, tourism boards, and various media outlets.
One of the primary revenue streams for travel photographers is selling their stunning images to travelers, tourism boards, and various media outlets. Travel publications, websites, and even social media platforms constantly seek captivating visuals that can transport viewers to far-flung corners of the world. By building a robust portfolio and effectively marketing your work, you can sell your photographs as stock imagery or secure licensing agreements for specific usage rights.
Additionally, high-quality, professionally printed travel prints can appeal to travelers seeking to capture the memories of their journeys or decorate their homes and offices with stunning imagery.
The luxury cruise industry continues to soar, catering to travelers seeking elevated experiences at sea. As a luxury cruise operator, you can offer bespoke itineraries, premium amenities, and exceptional service, appealing to a discerning clientele. Leverage your hospitality, culinary arts, and destination curation expertise to create unforgettable voyages that set you apart from the competition.
By leveraging your expertise in hospitality, culinary arts, and destination curation, you can craft itineraries that go beyond the typical cruise experience. This could include unique shore excursions, private VIP events, and custom-designed onboard programming that caters to your guests’ specific interests and preferences.
To further enhance the luxury cruise experience, you can invest in premium amenities and enriching activities that cater to your discerning clientele. This could include state-of-the-art spa facilities, fitness centers, wellness programs, immersive cultural experiences, educational lectures, and opportunities for exploration and adventure.
Travel Event Planner
Organize and coordinate unique travel-themed events, such as adventure retreats, wellness getaways, or culinary-focused experiences. Leverage your knowledge of travel logistics, vendor management, and event production to curate seamless and memorable events that attract adventure-seeking participants. By carefully selecting suitable venues, adventure providers, and support staff, you can create a truly immersive and unforgettable retreat that leaves participants rejuvenated and inspired.
Wellness-focused travel events are another growing trend that you can capitalize on. Curating all-inclusive getaways that combine relaxation, mindfulness practices, and holistic therapies can attract a discerning clientele seeking to prioritize their physical and mental well-being.
By combining your expertise in travel logistics and event production and a deep understanding of the evolving preferences of adventure-seeking, wellness-conscious, and culinary-focused travelers, you can create unique and highly desirable travel-themed events that stand out in a competitive market.
Tap into the growing demand for authentic, immersive travel experiences by offering local experience tours. Showcase the hidden gems, cultural nuances, and everyday lives of the communities you serve, allowing travelers to connect with the destination more profoundly and meaningfully. Collaborate with local guides, artisans, and businesses to create unforgettable, one-of-a-kind experiences.
The key to success in this space lies in your ability to collaborate closely with local guides, artisans, and businesses to create truly unforgettable, one-of-a-kind experiences. These intimate, immersive tours should go beyond the typical tourist attractions and provide travelers with a genuine understanding of the local way of life. This enhances the overall travel experience, supports the local economy, and helps preserve the cultural heritage of the communities you engage with.
Vacation Rental Management
As the popularity of vacation rentals continues to rise, offering vacation rental management services can be a lucrative business opportunity. Manage the end-to-end process, from listing properties and handling guest inquiries and bookings to ensuring the properties are well-maintained and cleaned between stays.
You can position your vacation rental management business as a trusted and reliable partner for property owners by leveraging your hospitality expertise, marketing prowess, and customer service skills. This, in turn, will attract a steady stream of high-quality properties to manage and a growing base of satisfied guests who appreciate the seamless experience you provide.
Additionally, by staying informed about industry trends, implementing cutting-edge technologies, and continuously enhancing your service offerings, you can differentiate your vacation rental management business and maintain a competitive edge in a rapidly evolving market.
Budget – Friendly Travel
Cater to the growing segment of budget-conscious travelers by offering affordable yet memorable travel experiences. This could involve organizing group trips, planning logistics for backpackers and solo travelers, or curating budget-friendly itineraries that maximize value without sacrificing quality. Leverage your knowledge of budget-friendly accommodations, transportation, and local insider tips to provide an exceptional travel experience at a fraction of the cost.
One fundamental approach is to organize group trips, which can offer significant cost savings for individual travelers. By negotiating group rates with accommodation providers, transportation companies, and activity operators, you can pass on the savings to your participants. This model also allows you to create a sense of community and shared experience, appealing to solo travelers and backpackers looking to connect with like-minded adventurers.
Effective marketing and promotion will also be crucial in reaching your desired clientele. Leveraging social media, travel forums, and strategic partnerships with complementary brands can help you connect with the budget-conscious traveler community and build a strong brand reputation.
Glamping
Capitalizing on the rising trend of “glamorous camping,” or glamping, can be a unique and lucrative business opportunity. Offer upscale, luxury camping experiences with plush amenities, gourmet meals, and stunning natural settings. Leverage your creativity, attention to detail, and understanding of the great outdoors to provide travelers with a one-of-a-kind glamping experience.
Provide spacious, well-appointed tents or eco-friendly “glamping” structures with high-end furnishings, comfortable bedding, and thoughtful amenities like en-suite bathrooms, heating/cooling systems, and private decks—partner with skilled chefs to curate a culinary experience that elevates the typical camping fare. Offer multi-course meals with locally sourced, seasonal ingredients, complemented by fine wines and craft cocktails. Ensure that your guests are attended to with the highest level of hospitality, from dedicated on-site staff to anticipatory concierge services that address their every need. These innovative ideas for travel business can inspire growth and fresh experiences.
Market size of the travel and tourism market in India in 2023, with forecast until 2030
Adventure Outfitter
For the more adventurous spirits, consider establishing an outdoor adventure outfitter business. Offer guided tours, equipment rentals, and logistical support for hiking, rock climbing, kayaking, or whitewater rafting activities. Leverage your expertise in outdoor recreation, safety protocols, and customer service to create unforgettable adventures for your customers and cosidering it as one of the best adventure business ideas in India.
To ensure the success of your outdoor adventure outfitter business, it’s crucial to maintain a strong focus on safety and risk management. This includes providing comprehensive training for your guides, maintaining high-quality equipment, and adhering to industry best practices for each activity offered.
Consider incorporating additional services such as equipment rentals, transportation logistics, and custom trip planning to enhance your offerings further. This one-stop-shop approach can simplify your clients’ planning process and increase your services’ overall value.
Experiential Travel Concierge
Tourism Business Ideas – Experiential Travel Journeys
Travelling business ideas in India are booming, with growing demand for eco-tourism, adventure travel, destination weddings, and personalized travel planning, offering entrepreneurs exciting opportunities. Become an experiential travel concierge, catering to travelers seeking bespoke, immersive experiences. Utilize your extensive knowledge of destinations, cultural nuances, and local connections to curate highly personalized itineraries beyond typical tourist offerings. Offer services such as private tours, exclusive access to local events, and customized activities that allow travelers to immerse themselves in the destination truly.
As an experiential travel concierge, you provide your clients with a truly elevated and customized travel experience. This goes far beyond simply booking flights and hotels – crafting a unique, one-of-a-kind journey that immerses travelers in the destination deeply.
To excel as an experiential travel concierge, you must understand your target destinations in-depth, cultivate a robust network of local contacts, and have a keen eye for detail. Continuously researching emerging trends, staying up-to-date with the latest developments, and fostering relationships with travel industry partners will provide your clients exceptional experiences.
Sustainable Travel Consultancy
Tourism Business Ideas – Sustainable Tourism Consultants
As environmental consciousness grows, there is an increasing demand for sustainable and responsible travel options. Establish a sustainable travel consultancy, advising individuals and organizations on eco-friendly travel practices, carbon-neutral accommodations, and responsible tourism initiatives. Leverage your expertise in sustainable travel to help clients plan and execute their journeys in a way that minimizes their environmental impact.
By positioning yourself as a knowledgeable and reliable sustainable travel expert, you can help your clients navigate the complex landscape of eco-friendly travel options and make informed decisions that align with their values and environmental objectives. This contributes to the overall sustainability of the travel industry and positions your consultancy as a valuable resource in a rapidly growing market.
Destination Wedding Planning
Offer destination wedding planning services, helping couples design and host their dream weddings in beautiful locations worldwide. This service blends travel planning with event coordination, handling everything from venue selection and guest accommodations to local vendors and cultural experiences. The goal is to create a stress-free, memorable celebration, tailored to each couple’s vision while ensuring seamless logistics. It is one of the most profitable travelling business ideas.
FAQs
How can I make money as a travel blogger or vlogger?
Monetization methods for travel blogs/vlogs include advertising, sponsorships, affiliate marketing, and selling digital products like ebooks or guides. Building a strong brand, high-quality content, and audience engagement are key.
What services does a vacation rental management company provide?
These companies handle the full process of marketing vacation rental properties, guest communication/bookings, cleaning, and property maintenance for rental owners.
What is glamping?
Glamping refers to upscale, luxurious camping with amenities like high-end accommodations, furnishings, chef-prepared meals, and resort-style services in outdoor settings. Glamping is one of the best tour and travels business ideas.
How can I focus on sustainable tour and travel as a business?
As a sustainable travel consultant, you can advise clients on eco-friendly accommodations, carbon offsetting, responsible tourism practices, and minimizing environmental impact.
What are tourism related business ideas?
Tourism-related business ideas include destination wedding planning, offering couples dream weddings in scenic locations, and eco-tourism services, promoting sustainable travel experiences. Other options are adventure tourism for thrill-seekers, cultural tours that explore local traditions, and travel consultancy to help clients plan personalized trips. Each idea taps into travelers’ desire for unique and memorable experiences.
What are tourism startup ideas?
Tourism startup ideas include destination wedding planning, eco-tourism services, adventure tourism, cultural tours, and travel consultancy, catering to travelers seeking unique experiences.
A new era of global communication has been brought about by the emergence of social networking platforms, which have been fueled by the widespread use of smartphones and the internet. But in the midst of this digital transformation, a lot of platforms have unintentionally ignored the linguistic and cultural variety seen in places like India in favor of catering mostly to English-speaking viewers.
Seeing this void, ShareChat, a social networking site specifically designed with Indian users in mind, arose in January 2015. ShareChat facilitates cultural expression and community cohesiveness by offering a platform for users to connect, share, and interact in their original languages, supporting 15 languages, including Tamil, Hindi, Malayalam, and Gujarati.
ShareChat’s dedication to linguistic diversity is demonstrated by the variety of vernacular material it offers on subjects including dictionaries, health advice, DIY cures, and inspirational sayings. In addition to addressing a significant gap in the social media scene, ShareChat enables people to express themselves honestly in languages that are consistent with their cultural identities. This is achieved by accommodating the linguistic preferences of its users.
Read about ShareChat founders, history, funding, revenue model, competitors, business model, and more.
ShareChat – Company Highlights
STARTUP NAME
SHARECHAT
Headquarters
Bangalore, Karnataka, India
Sector
Social Media
Founders
Farid Ahsan, Bhanu Pratap Singh and Ankush Sachdeva
ShareChat, much like any other social networking platform, allows its users to create, discover, and share content with each other. Furthermore, ShareChat users can follow other users on the same platform, regardless of whether they are content creators, friends, or any person of interest, and track regular updates. The ShareChat users are not only excited about consuming the content they find on the platform but are also involved in the creation of this content.
ShareChat – Industry
The digital media industry in India is expected to develop at a compound annual growth rate (CAGR) of 23.49% by 2025, according to a report by Dentsu India. According to the report, in 2024, the industry’s revenue is expected to reach $10.07 billion. This strong development trajectory highlights how important digital media are becoming in India’s changing media environment.
A growing digital ecosystem, shifting consumer behaviors, and technological improvements have made firms more adept at using digital platforms to connect with and interact with their target markets. The anticipated expansion not only mirrors the burgeoning digital economy but also underscores the prospects and room for creativity in India’s digital media industry.
ShareChat was founded by Farid Ahsan (Co-Founder and Board Member), Bhanu Pratap Singh (Co-Founder and CTO), and Ankush Sachdeva (Co-Founder and CEO).
Farid Ahsan (Co-Founder and Board Member), Bhanu Pratap Singh (Co-Founder and CTO), Ankush Sachdeva (Co-Founder and CEO), Co-Founder of ShareChat
Ankush Sachdeva
Co-Founder and CEO of ShareChat and Moj, Ankush Sachdeva was a BTech Computer Science student from IIT Kanpur. After Interning at Microsoft, Ankush co-founded ShareChat in 2015. He served the company as the co-founder and CPO of the company before being promoted to the rank of CEO in 2017. ShareChat was Ankush Sachdeva’s 18th attempt to build a startup, and Sharechat has truly turned into a considerable giant operating in the social media space
Farid Ahsan
Farid Ahsan was a BTech student who completed his degree in Material Science and Engineering from IIT Kanpur. He currently serves as the Co-Founder and the Board Member of ShareChat. He is also the the Co-Founder of General Autonomy.
Bhanu Pratap Singh
Bhanu Pratap Singh was also an IIT Kanpur student who completed his degree in Electrical Engineering there. He is the Head of the technology vertical of the platform, along with serving as the Co-Founder and CTO of ShareChat.
ShareChat – Shareholdings
ShareChat shareholding pattern as of March 202 (source: Tracxn)
ShareChat Shareholders
Percentage
Farid Ahsan
3.8%
Ankush Sachdeva
3.8%
Bhanu Pratap Singh
3.8%
SAIF Partners
7.0%
HarbourVest Partners
1.1%
Lightspeed Venture Partners
11.9%
Touchstone Partners
17.8%
Twitter Ventures
6.8%
Shunwei Capital
5.2%
Brand Capital
4.8%
Tiger Global Management
3.8%
Xiaomi
3.6%
Rainforest Holding
1.3%
Google
1.2%
ESOP Pool
4.2%
Others
19.9%
ShareChat Shareholders
ShareChat – Startup Story
Three IIT graduates, Farid Ahsan, Bhanu Singh, and Ankush Sachdeva, launched ShareChat in 2015 based on a straightforward realization: there was a user base that was ready to express themselves but lacked an appropriate platform. Acknowledging the unexplored market of local audiences, they introduced ShareChat, which at first served as an application for sharing content on WhatsApp.
They found a substantial preference for Sachin Tendulkar and cricket-related content as they dug deeper into user behavior. ShareChat, a regional language-driven social networking site aimed mostly at users in Tier 2 and Tier 3 cities, was created as a result of this discovery.
Within three months, the platform attracted downloads, and India Quotient provided money, demonstrating its rapid growth. When the Indian government outlawed TikTok in 2019, ShareChat’s growth took a further turn for the better. This led the team to create Moj, a short-form video app.
In spite of the pandemic’s obstacles, ShareChat grew rapidly, gaining millions of users and turning down a substantial Google takeover offer. ShareChat is a monument to the vision and tenacity of Ankush Sachdeva and his team as it grows its user base with the goal of reaching a large audience.
ShareChat – Name and Logo
ShareChat Logo
The parent company of ShareChat is “Mohalla Tech Pvt Ltd.“
ShareChat – Mission and Vision
ShareChat’s mission and vision statement say, “We aspire to help individuals form substantial connections and stay entertained.”
ShareChat – Products and Service
ShareChat: Some of the prominent products and services are:
ShareChat Learning Hub
In order to better serve marketers, advertisers, and brands, ShareChat has introduced ShareChat Learning Hub, a comprehensive certification program that is unique in its type, in March 2023.
Pinning Card
On July 10, 2023, ShareChat revealed the launch of a brand-new feature called Pinning Card, which allows hosts to increase the visibility of their chatroom sessions by pinning them themselves.
ShareChat – Business Model
There are two prominent kinds of business models followed by the content marketing community on the internet. The first one helps in building a network where the content material is created and owned by the platform creators. On the other hand, lies the second kind of model, which helps create a major part of the content material for the customers. This is what ShareChat does.
ShareChat believes in existing as a popular social networking platform, where users can upload photos, and videos, create content, chat with others, make friends, and more. However, unlike the other social media platforms, Sharechat helps in conveying all the messages in the regional languages of India.
ShareChat makes revenue from different resources; some of the prominent ones are:
ShareChat makes money from its platform through advertising, drawing advertisers in with the help of its sizable user base and engagement data.
Innovative content monetization strategies used by ShareChat support the company’s revenue growth and guarantee a long-term business strategy that benefits all of its stakeholders.
ShareChat – ESOP
ShareChat’s board has approved adding 5,83,800 new employee stock options (ESOPs) to its existing plan. This increases the total ESOP pool to 14,30,100 options, according to its filing with the Registrar of Companies (RoC) in February 2025.
Each 100-stock option can later be converted into one equity share as per the agreement.
The company expanded its ESOP pool to encourage employee ownership and help attract, retain, and motivate talented employees.
As per the reports, the newly added ESOPs are worth $108 million, while the total ESOP pool is valued at $265 million. These valuations are based on ShareChat’s $2 billion company valuation.
ShareChat increased the amount available for its Employee Stock Ownership Plan (ESOP) in May 2024 to INR 3,310 crore. ShareChat’s board had approved a resolution to expand its Employee Stock Ownership Plan (ESOP) by adding 260,000 new stock options. This increase brings the total ESOP pool to 846,300 options, aimed at rewarding and retaining talent.
This step is indicative of ShareChat’s dedication to promoting employee engagement and coordinating the team with the organization’s long-term growth goals.
ShareChat – Challenges Faced
ShareChat faced several difficulties in 2023 that put its adaptability and tenacity to the test. One major challenge was the requirement to implement a large labor reduction, which affected about 25% of the company’s workers as per a news report of December 20, 2023. This reorganization was a response to the ever-evolving market conditions and the dynamic character of the sector, which required ShareChat to optimize its operations.
In addition, Mohalla Tech, the parent company of ShareChat, experienced difficulties when Jeet11, its fantasy game subsidiary, closed, resulting in the regrettable layoff of 100 workers.
These difficulties highlighted ShareChat’s need to carefully negotiate changing market dynamics while giving strategic choices top priority in order to guarantee long-term growth and sustainability. ShareChat persisted in its resolve to overcome these challenges and carry out its objective of providing its consumers with efficient service in the constantly changing digital environment.
ShareChat has raised $1.8 billion to date, over 18 rounds of funding.
Here’s looking at the most prominent funding rounds for ShareChat:
Date
Stage
Amount
Investors
August 5, 2024
Debt Financing
$16 million
EDBI
March 27, 2024
Debt Financing
$48.8 million
–
November 14, 2023
Seed Round
$3 million
India Quotient, Elevation Capital
June 16, 2022
Series H
$77.7 million
Google and Temasek
February 10, 2022
Debt Round
$100 million
Tencent Capital and more
December 16, 2021
Series G
$266 million
Alkeon Capital, Temasek, Moore Strategic Ventures
July 27, 2021
Series F
$145 million
Temasek, Moore Strategic Ventures and Mirae-Naver Asia Growth Fund.
April 8, 2021
Series E
$502 million
Tiger Global Management and Lightspeed Venture Partners
December 23, 2020
Debt Financing
$60 million
Twitter Ventures
September 24, 2020
Series E
$40 million
–
August 15, 2019
Series D
$100 million
Twitter
September 19, 2018
Series C
$99.2 million
Shunwei Capital
January 18, 2018
Series B
$18.2 million
Shunwei Capital and Xiaomi
November 23, 2016
Series A
$4 million
Lightspeed India Partners
July 13, 2016
Seed Round
$1.4 million
SAIF Partners
May 11, 2016
Non Equity Assitance
$50K
Google Launchpad Accelerator
March 5, 2015
Seed round
–
India Quotient
ShareChat – Acquisitions
ShareChat acquired 6 companies to date:
Date
Funding Round
Investors
February 10, 2022
$700M
MX TakaTak
September 16, 2020
–
HPF Films
Apr 27, 2020
–
Memer
Apr 24, 2020
–
Circle Internet
Feb 21, 2020
–
Elanic
Mar 2, 2019
–
Clip App
ShareChat – Growth
ShareChat’s growth highlights are:
It has a 32+ million creator community as of March 2024
The time spent on ShareChat was 31 minutes as of March 2024
The number of shares per month on ShareChat was 2.5 billion+ as of March 2024
It has generated 75 billion+ pieces of content as of March 2024
The company has 180 million MAU as of March 2024
ShareChat – Financials
ShareChat’s financial performance has shown both revenue growth and expense reduction in recent years, though the company continues to operate at a loss. Below is a summary of its financials from FY24 to FY20.
Particulars
FY24
FY23
FY22
FY21
FY20
Revenue
INR 747.1 crore
INR 718.8 crore
INR 419.2 crore
INR 96.6 crore
INR 38.1 crore
Expenses
INR 2,644.7 crore
INR 5,862.2 crore
INR 3,407.6 crore
INR 1,557.5 crore
INR 715.0 crore
Profit/Loss
INR -1,898.9 crore
INR -5,144.3 crore
INR 2,988.6 crore
INR -1,460.9 crore
INR -676.9 crore
ShareChat Financial
Revenue increased by INR 28.3 crore in FY24 compared to FY23, while expenses significantly decreased by INR 3,217.5 crore, reducing the net loss.
ShareChat Revenue:
Revenue Breakdown
FY24
FY23
Revenue from Operations
INR 718.1 crore
INR 552.7 crore
Other Income
INR 29.0 crore
INR 166.0 crore
Total Revenue
INR 747.1 crore
INR 718.8 crore
Revenue from operations increased by INR 165.4 crore in FY24, but other income decreased by INR 137 crore, resulting in a modest total revenue increase.
ShareChat Profit/Loss:
Profit/Loss
FY24
FY23
Gross Profit
INR -1,926.6 crore
INR -5,176.1 crore
Operating Profit
INR -1,918.9 crore
INR -5,145.1 crore
Net Profit/Loss
INR -1,898.9 crore
INR -5,144.3 crore
ShareChat reduced its net loss by INR 3,245.4 crore in FY24 compared to FY23, mainly due to lower expenses.
ShareChat Expenses:
Expense Breakdown
FY24
FY23
Employee Benefit Expense
INR 580.4 crore
INR 698.0 crore
Finance Costs
INR 510.6 crore
INR 340.3 crore
Amortization & Depreciation
INR 16.1 crore
INR 1,919.8 crore
Other Expenses
INR 1,537.6 crore
INR 2,904.1 crore
Total Expenses
INR 2,644.7 crore
INR 5,862.2 crore
Expenses dropped by INR 3,217.5 crore in FY24, with significant reductions in Amortization & Depreciation and Other Expenses.
Quick Summary:
Revenue: Increased by INR 28.3 crore, driven by higher revenue from operations.
Profit/Loss: Net loss reduced by INR 3,245.4 crore, reflecting lower expenses.
Expenses: Total expenses decreased by INR 3,217.5 crore, with major cuts in Amortization & Depreciation and Other Expenses.
ShareChat has partnered with many companies; some of the prominent ones are:
JioCinema
ShareChat has teamed up with JioCinema to deliver exclusive short-form content in multiple languages for the Paris Olympics 2024, running from July 26 to August 11, 2024.
GroupM
GroupM and ShareChat have partnered on August 29, 2022, to drive a new chapter in contemporary marketing. The strategic alliance will concentrate on offering customers efficiency and efficacy throughout the digital marketing ecosystem’s pillars.
Dukaan
In order to help merchants on its platform work with creators on ShareChat and Moj to promote their items through live and video content, Dukaan announced that it has partnered with both platforms on September 9, 2022.
Httpool
To increase sales and broaden its market, ShareChat (Mohalla Tech Pvt. Ltd.) has partnered up with Httpool by Aleph, a global partner of significant media platforms, on November 23, 2022.
ShareChat – Competitors
Smartphones today are full of social networking and content-sharing applications because that’s what people want to see and do today. In this highly competitive field, ShareChat, directly and indirectly, competes with:
In the future, ShareChat claims that there will be major changes in the way the application functions. The users can fairly expect a lot more variety in the area of content formats. Also, the users can expect a lot more content creators to transform into celebrities, and to see people who become famous on ShareChat. Also, India has 15 official languages and more than 1600 known dialects. So, ShareChat wants to cater to more regional audiences. What the platform doesn’t want is to limit itself to India.
FAQs
What is the ShareChat app?
ShareChat app, much like any other social networking platform, allows its users to create, discover, and share content with one another. However, the platform is distinguished by the regional languages that ShareChat uses for the content shared.
What services does ShareChat provide?
ShareChat provides its users with health tips, homemade remedies, weight loss, religious quotes, and a dictionary to only name a few.
What is ShareChat business model?
ShareChat follows a social media and content-sharing business model. It earns revenue through advertising, brand partnerships, and in-app monetization while providing a platform for users to create, share, and consume content in regional languages.
What is ShareChat revenue model?
The revenue model of ShareChat is mainly based on advertising, brand promotions, and in-app monetization through features like virtual gifts and premium content.
Who is the founder of ShareChat?
ShareChat was founded by Farid Ahsan, Bhanu Singh, and Ankush Sachdeva.
Who is the CEO of ShareChat?
Ankush Sachdeva is the CEO of ShareChat and has been doing so since 2017.
What is ShareChat launch date?
ShareChat was launched in 2015.
Who are the competitors of ShareChat?
ShareChat, directly and indirectly, competes with Roposo, BetterButter, Giphy, Nerdery, Digg, and many more.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
Though some of us still want to go for a first-hand experience of things, a significant number of people opt for used products instead of new ones, especially when it comes to the purchase of vehicles.
Our financial conditions have taken a tumble since the outbreak of the coronavirus pandemic, but new cars are getting costlier each day. Furthermore, as ironic as it is, the quality of these cars and their average lifespan are going down equally. Besides, for first-time buyers, going for used cars is always better as a decision. All of these reasons have boosted the sales of used cars.
Buying used cars in India is not at all pain, but all gain today! This is primarily because of the growing used car space in India, which is dominated by promising startups that are equipped with the technology of the age. Spinny is one such used car startup based in Gurgaon, Haryana that is disrupting the segment of used cars in India.
Read more about the brand Spinny, all the details of the used car industry, Logo and Tagline, Founders, Startup Story, Mission and Vision, history, Employees of the company, the Business and Revenue Model, Funding and Investors, Competitors, and more.
Spinny Company Details
Startup Name
Spinny
Also Known As
Spinny Cars , myspinny, Spinny Assured Cars
Legal Name
ValueDrive Technologies Pvt. Ltd.
Headquarters
Gurgaon, Haryana, India
Industry
Automobile, Automotive
Founders
Niraj Singh, Ramanshu Mahaur, Mohit Gupta, and Ganesh Pawar
Spinny is a reliable platform for used cars. Powered by cutting-edge technologies, Spinny promises simple, convenient, trustworthy transactions for all the users who look to buy and sell used cars.
The company’s platform contains a list of automobiles with full details that the buyers can check out. Furthermore, it also includes a test drive with a 5-day money-back assurance, thereby allowing the car owners to sell their vehicles and potential consumers to buy cars in an easy and transparent manner.
Sellers may arrange for an evaluation and accept an offer for their vehicle. Buyers may also go through the wide range of cars that Spinny offers online, choose a car, and book a test drive. Car owners may also put their vehicles for sale on the site and receive fast bids.
Spinny eliminates the danger of buying a used car and provides users with complete peace of mind. Its multi-step filtration means that the users always have the option of selecting from a pool of certified used automobiles of the greatest quality. When a customer buys a Spinny Assured automobile, he/she will be getting a used car that hasn’t been in an accident, hasn’t had its meter tampered with, has clean records, and has been properly inspected against a 200-point checklist.
Spinny – Industry
The used automobile market in India was valued at $561.13 million in 2023 and is predicted to grow to $738.57 million by 2032, with a CAGR of 3.10% between 2024 and 2032.
As opposed to the serious aftermath of the pandemic for the new car space, the impact of the COVID-19 pandemic on the industry was negligible. The industry is expected to significantly rise as more individuals desire independent mobility and new financial alternatives are incorporated into the used automobile market. Besides, after the pandemic onslaught, consumers have been forced to search for alternatives to new automobiles, and the used car sector has a lot of room for expansion in this area. Besides, manufacture and sale have also been hampered by the pandemic, which made the purchasers quickly resort to the used automobile market.
Spinny – Logo, and Tagline
Spinny Logo
Spinny has chosen red and black as its brand colors and the logo of the brand is crisp and catching, marked with the starting letter, “S”, of the brand.
Spinny’s tagline says, “Cars you will love to buy.”
Spinny – Founders and Team
Spinny was founded by Niraj Singh, Ramanshu Mahaur, Mohit Gupta, and Ganesh Pawar in 2015.
Spinny’s Founder and CEO is Niraj Singh. Niraj Singh has also worked as a Founding Partner at Outbox Ventures in the past.
Ramanshu Mahaur
Spinny and Karmabite were co-founded by Ramanshu Mahaur, who currently serves as the co-founder and CTO of the company. He was most recently a member of Adobe’s technical staff. Ramanshu graduated from the Indian Institute of Technology in Delhi with a Bachelor’s degree in Computer Science.
Mohit Gupta
Mohit Gupta is one of Spinny’s co-founders. Prior to joining Spinny, he worked at Flipkart from 2011 to 2014, holding several responsibilities.
Ganesh Pawar
Ganesh Pawar used to be Senior Manager of Business Development in Flipkart. He, then, co-founded Spinny. Now, he is building the food FMCG business at Udaan – an eCommerce-supply chain.
India’s used car industry has been getting a lot of attention for quite some years now. It is mainly due to the better value proposition that used cars offer, that more and more Indians are looking to opt for old cars than the newer ones.
However, the lack of proper information that is inherent in the process of the sales of used automobiles, the absence of trustworthy middlemen, the complexity of navigating through the variety of alternatives when it comes to buyers, and finding the correct price of the vehicles for sellers have all been roadblocks in this path.
Besides, the procedure of buying a secondhand automobile is cumbersome and overly complicated. Independents provide a wide range of rates and services to entice people to buy automobiles of dubious quality. Choosing from a pool of mint and lemon autos, for example, has a high likelihood of bad selection for a beginner. All these provided a cradle for the birth of Spinny.
Niraj Singh, an IIT-Delhi alumni, serial entrepreneur, and investor founded Spinny in 2015. His aim to alleviate young Indians’ automobile ownership woes led to the formation of the firm. Niraj invested $500,000 of his personal money into the company. He is now backed by numerous venture capital groups and has raised close to Rs 418 crore. Niraj saw a need to provide a quality experience for individuals buying used automobiles and decided to build a simple and clear platform for customers to collect information and purchase a car.
Niraj Singh, Ramanshu Mahaur, Ganesh Pawar, and Mohit Gupta embarked on a mission to develop Spinny in order to sift out the quintessential problems of annoyance and skepticism and break down the arduous procedure into a one-click solution.
Buyers may rest assured knowing that all of the cars on offer have been Spinny Certified, which means they have passed a thorough assessment by our expert inspectors. This guarantees that the buyer is fully informed about the vehicle’s condition and is making an educated selection. Buyers of Spinny-certified cars also benefit from a warranty on cars acquired via Spinny.
In addition, the organisation handles all documentation, from registration to title transfers, as well as aiding purchasers with financing their new acquisition. Spinny has finally brought actual ease and a smoother transaction to the used automobile market for both buyers and sellers.
The Spinny business initially started in Delhi NCR in 2015 and has seen quite a growth since then.
Spinny’s mission is to make car ownership accessible, simple, and delightful.
“Our goal is for the country to trust our method, believe in and enjoy our cars”, states the company’s website.
“Only four percent of people are satisfied with their experience of buying a used car. We are providing trust, transparency, and simplicity. Our aim is that the buyer should be able to purchase the car with the same confidence that he or she shows while buying a new car,” added Niraj.
Spinny – Business Model and Revenue Model
Spinny, transitioned from a customer-to-customer model to a full-stack one in which it buys, refurbishes, and sells old cars. According to the creator and chief executive officer Niraj Singh, the website sells close to 1,500 automobiles every month and is increasing at a constant pace of 15-16% month over month. Spinny hopes to roughly triple its current volume by the end of the year 2021, according to Singh.
“There was a lot more capital available, but we wanted limited dilution in this round because our burn is very limited. We don’t have a runaway problem. It was just that we wanted to add an extra layer of security and the ability to experiment more,” Singh said.
Spinny has over 2 lakh customers and works with around 1000 people in over 11 cities, with ambitions to grow to 6 more by the end of the year, 2021. It now offers used cars in the INR 4-8 lakh range but intends to expand its services to include both cheaper and higher-priced vehicles.
In 2024, Spinny startup sells over 7,000 cars each month. Spinny’s online sales have also increased by 13% to reach 70% of the total sales.
Spinny raised around $513.5 million in funding over the 9 funding rounds it has witnessed to date. The last funding came in the form of an undisclosed funding round from Sachin Tendulkar after the huge Series E funding round on November 24, 2021, led by Tiger Global and Abu Dhabi Growth, which helped the company join the unicorn club of Indian companies. Currently valued at over $1.67B, as of December 2024, Spinny has already become the 4th Indian unicorn startup in the used car space and the 39th unicorn startup of India to achieve a unicorn valuation in 2021.
Date
Round
Amount
Lead Investors
December 14, 2021
Funding Round
–
Sachin Tendulkar
November 24, 2021
Series E
$283M
Tiger Global, Abu Dhabi Growth Fund
Jul 9, 2021
Series D
$103.30M
Tiger Global Management
Apr 7, 2021
Series C
$65M
General Catalyst
Sep 27, 2019
Series B
$43.7M
Fundamentum
May 21, 2019
Series A
$13.2M
Accel, Elevation Capital
Nov 13, 2018
Debt Financing
$4M
Blume Ventures
Jun 6, 2017
Seed Round
$1M
Blume Ventures
Spinny – Shareholders
Spinny shareholding as of November 2024 (source: Tracxn):
Spinny Shareholders
Percentage
Niraj Singh
9.7%
Mohit Gupta
2.6%
Ramanshu Mahaur
2.6%
Tiger Global Management
14.1%
Elevation Capital
12.5%
Accel
13.1%
General Catalyst
6.6%
ADFD
5.6%
Fundamentum
5.2%
Avenir Growth Capital
5.1%
Blume Ventures
5.3%
ESOP Pool
6.7%
Others
10.9%
Spinny Shareholders
Spinny – Acquisitions
Acquiree Name
About Acquiree
Date
Amount
Scouto
Scouto is an AI-powered connected car connectivity start-up.
Feb 10, 2022
–
Truebil
Truebil is a team of young, highly motivated professionals who strive to help you buy and sell used cars in the simplest way possible.
Aug 6, 2020
–
HopCar
HopCar is a provider of buy and sell car. Free Inspection. 15 days Sale Guarantee.
Jun 13, 2016
–
Spinny competes with its ESOP buyback for its current and former employees. The ESOP buyback plan announced on December 21, 2021, worth ($12 mn) INR 90 crores, was the first employee stock ownership plan that the company has seen to date.
Spinny – Growth and Revenues
Top Car Preferences: Maruti Suzuki, Hyundai, BMW, and Mercedes-Benz were the most popular in 2024.
Online Sales: 70% of purchases were made online in 2024.
Spinny Parks: 50% of deliveries were from new Spinny Parks in 2024.
Financing: 46% of buyers used Spinny Capital for financing in 2024.
Metro Growth: Bangalore, Delhi NCR, and Hyderabad saw the highest sales in 2024.
Spinny – Financials
Spinny’s financial performance from FY20 to FY24 shows strong revenue growth but continued losses. Revenue grew from INR 17.7 crore in FY20 to INR 3,821.9 crore in FY24, while expenses also increased, leading to a loss of INR 587.5 crore in FY24.
Particulars
FY24
FY23
FY22
FY21
FY20
Revenue
INR 3,821.9 crore
INR 3,380.7 crore
INR 180 crore
INR 39.7 crore
INR 17.7 crore
Expenses
INR 4,409 crore
INR 4,196.1 crore
INR 670 crore
INR 150 crore
INR 93.9 crore
Profit/Loss
INR -587.5 crore
INR -815.5 crore
INR -490 crore
INR -110.3 crore
INR -76.2 crore
Revenue grew by INR 441.2 crore (13.05%) from FY23 to FY24. Expenses increased by INR 212.9 crore (5.07%), reducing the loss by INR 228 crore.
Spinny Revenue:
Spinny’s revenue grew from INR 3,380.7 crore in FY23 to INR 3,821.9 crore in FY24, mainly due to higher revenue from operations.
Revenue Source
FY24
FY23
Revenue from operations
INR 3,725 crore
INR 3,259.8 crore
Other income
INR 96.8 crore
INR 120.9 crore
Total Revenue
INR 3,821.9 crore
INR 3,380.7 crore
Revenue from operations increased by INR 465.2 crore (14.27%), while other income fell by INR 24.1 crore (19.93%).
Spinny Expenses:
Expenses rose from INR 4,196.1 crore in FY23 to INR 4,409 crore in FY24, driven by higher purchases of stock-in-trade and finance costs.
Expense Type
FY24
FY23
Cost of materials consumed
INR 90 crore
INR 143.8 crore
Purchases of stock-in-trade
INR 3,495.2 crore
INR 3,242.9 crore
Changes in inventories of finished goods, WIP
INR 8.4 crore
INR (217.5) crore
Employee benefit expense
INR 391.7 crore
INR 393.5 crore
Finance costs
INR 90.1 crore
INR 67.7 crore
Depreciation, depletion and amortisation expense
INR 62.1 crore
INR 77.9 crore
Other expenses
INR 271.5 crore
INR 487.8 crore
Total Expenses
INR 4,409 crore
INR 4,196.1 crore
Purchases of stock-in-trade increased by INR 252.3 crore (7.78%), while other expenses decreased by INR 216.3 crore (44.34%).
Spinny Profit/Loss:
Spinny reduced its losses from INR 815.5 crore in FY23 to INR 587.5 crore in FY24 due to revenue growth and cost management.
Profit Type
FY24
FY23
Gross profit/loss
INR 326.7 crore
INR 137.8 crore
Operating profit/loss
INR -497.4 crore
INR -747.6 crore
Net profit/(oss
INR -587.5 crore
INR -815.5 crore
Gross profit increased by INR 188.9 crore (137.08%), and net loss reduced by INR 228 crore (27.96%).
Quick Summary:
Revenue: Increased by 13.05% (INR 441.2 crore), driven by a rise in revenue from operations.
Expenses: Increased by 5.07% (INR 212.9 crore), mainly due to higher stock-in-trade purchases and finance costs.
Profit/Loss: Net loss was reduced by INR 228 crore (27.96%) due to improved gross profit and controlled expenses.
Spinny, a used car startup, had laid off 5% of its workforce, or around 300 employees in August 2023, as the company merged the Truebil and Max platforms into the main platform. The reason for the layoff is to have cleaner and more focused execution going forward and to offer everything to customers on the main platform.
The company’s official statement on this “We have witnessed a sharp uptick in demand for reliable, budget-friendly cars as most people have resumed work from the office. By splitting our inventory of cars across different brand platforms, we were sometimes unable to offer enough options to such customers. With this consolidation, we should be able to meet the needs of these customers well.
Spinny is providing affected employees with a three-month severance package, faster ESOP vesting, and the option to maintain their assets as a show of support.
The trust issue is one of the major worries consumers have when buying used automobiles, according to Niraj Singh, co-founder, and CEO of Spinny. The startup’s rigorous and transparent inspection of the car, buying it from the owner, and then selling it to clients, addresses those concerns, Singh adds.
The business claims it is removing conventional intermediaries from the mix, making used car purchases more reasonable and reliable for clients. If a consumer is unhappy with the automobile they bought from Spinny, they will receive a complete refund.
Spinny started out as a used automobile marketplace, but according to Singh, the company has grown to become a full-stack platform. The pandemic harmed Spinny’s company for a few months, according to Singh, but the startup has now restored its pre-pandemic growth rates.
According to Singh, the outbreak of the deadly virus made many people wary about taking an Uber or Ola trip, prompting them to look into purchasing their own vehicles. Spinny’s CAC was also dramatically lowered, he claimed.
Though Spinny is an evolving startup that has already achieved a unicorn valuation, it is facing tough competition from its rivals in the used car space. Therefore, surviving in one such landscape with cutthroat competition is itself a challenge that Spinny is battling against.
Spinny – Future Plans
Spinny doesn’t want to be just another participant in the market in the coming year; instead, it wants to be the catalyst for changing people’s perceptions about used vehicle purchases. According to Niraj, the goal is to create a seamless shopping experience that is consistent with openness, quality, responsibility, and trustworthiness.
Spinny – FAQs
What is Spinny?
Spinny is an Indian used car buying and selling platform founded in 2015. It provides a seamless, transparent, and trusted process for purchasing and selling pre-owned cars.
What does Spinny do?
Spinny is a used car trading platform that aims to deliver affordable used cars via an easy and transparent process for everyone.
Who founded Spinny?
Spinny was founded by Niraj Singh, Ramanshu Mahaur, Mohit Gupta, and Ganesh Pawar.
Spinny founded in which year?
Spinny was launched in 2015.
Which companies do Spinny compete with?
CarDekho, Droom, CARS24, CarTrade, CarWale, Creative Webmedia Pvt Ltd, Carnation, CheckGaadi, Chehaoduo, CapCar, Shift Technologies, and Carlypso, are the top ten rivals in Spinny’s competitive set.
What is Spinny business model?
Spinny operates on a direct-to-customer (D2C) model for buying and selling used cars. It owns and inspects the cars, ensuring quality before selling them to customers through its online platform and physical hubs. This eliminates middlemen, offering competitive prices and a better customer experience. The company earns revenue from car sales, financing services, and value-added products like insurance and warranties.
Bharti’s journey from a humble beginning to one of the most renowned personalities in the global telecom industry is, indeed, an inspiring entrepreneurship cum vision story. His vision is to establish the foundation of Bharti Enterprises, which is expected to revolutionize mobile connectivity, digitally reshape India, and create paths across the world.
Bharti’s success story is really the tale of adaptation and innovation combined with astute investments. Bharti shone in his international alliances, paving the way to worldwide expansion and successfully traversing the developmental changes of technology as a futurist innovator. He really was able to think ahead, lead the vision, and work hard for excellence, which made Airtel come into existence. He also saw some remarkable milestones for the company, including the launching of the first telecom services to international fame.
Sunil Bharti Mittal: Biography
Name
Sunil Bharti Mittal
Birthplace
Ludhiana, Punjab, India
Born
October 23, 1957
Nationality
Indian
Education
Wynberg Allen School in Mussorie , Scindia School in Gwalior, Arya College in Ludhiana, Harvard University
Occupation
Industrialist Philanthropist
Title
Founder & chairman Bharti Enterprises
Alma Mater
Panjab University, Chandigarh
Spouse
Nyna Mittal
Children
Son: Kavin Bharti, Sharvin Bharti and Daughter: Eisha Mittal
Sunil was born on October 23, 1957, in a Ludhiana, Punjab, Agarwal-Khatri family. Sunil was the son of Sat Pal Mittal, a distinguished Member of Parliament from the Rajya Sabha. He inherited the family’s legacy and an indomitable spirit of determination and ambition.
Sunil’s childhood was spent in the busy streets of Ludhiana with his political luminary father, creating a colourful background for his life. The exposure to politics, leadership, and public life undoubtedly sowed the seeds of discipline and purpose in young Sunil.
Sunil first attended Wynberg Allen School in Mussoorie, one of the most renowned schools in the Himalayan hills. But his academic path soon took him to the Scindia School in Gwalior, famous for its culture of nurturing future leaders.
Sunil graduated from Panjab University, Chandigarh, in 1976 with a Bachelor of Arts and Science. During this time, he also studied at Arya College in Ludhiana, building a foundation as diverse as his aspirations.
Sunil Bharti Mittal – Career
Bharti Enterprises founder Sunil Bharti Mittal is a man of ambition, resilience, and innovative thinking. Sunil was born into a business-focused family and had an entrepreneurial spark as a child. In 1976, at 18 years old, he started his first business with INR 20,000 borrowed from his father. His first foray was crankshaft production for bicycle makers, a lowly beginning that would be the basis for his business acumen.
In 1980 Sunil and his brothers Rakesh and Rajan started Bharti Overseas Trading Company. At first, the enterprise imported goods like Suzuki Motors’ portable electric generators from Japan. Sunil had financial success from this venture, but a government ban on generator imports in 1983 forced him to pivot.
In 1982, Mittal attended a trade show in Taiwan, where he first saw push-button phones. He was fascinated and wondered if he could introduce this technology in India, where rotary phones were still the norm. In 1984, he began assembling these phones under Bharti Telecom Limited (BTL) in collaboration with Germany’s Siemens AG. Mittal’s brand Beetel became synonymous with modern telephony, and soon, Mittal started making fax machines, cordless phones, and answering machines.
In 1992, the Indian government auctioned licenses for mobile telephony, marking a pivotal moment. Mittal’s determination helped Bharti get the permit for Delhi despite competing with industry giants Tata and Birla. In 1995, he partnered with France’s Vivendi to launch Bharti Cellular Limited under Airtel. By 1997, Airtel had become a name on every household’s lips, having crossed the two million subscriber mark in record time.
Mittal’s vision was not limited to connectivity. With the launch of IndiaOne, he revolutionized STD and ISD rates and made telecommunications affordable and accessible for millions.
Bharti was taken into international markets because of Mittal’s hunger for expansion. In 2008, he tried to make an audacious $45 billion acquisition of South Africa’s MTN Group, which would have been the most significant overseas deal by an Indian company. The deal fell through, but his resolve was not broken. Bharti’s successful 2010 acquisition of Zain Telecom’s African operations for $10.7 billion was the largest telecom acquisition by an Indian company.
Mittal’s leadership style was defined by adaptability and innovative financing strategies. He approached telecom, a traditionally capital-intensive industry, with a modular mindset: start small break even on operations.
Airtel’s success was spearheaded by bold initiatives, such as scrapping national and international roaming charges in 2017, which restructured the industry and made Airtel a customer-centric brand.
Mittal is a visionary entrepreneur who has always believed in giving back. He is also involved in the education business through the Bharti Foundation, which operates 250 schools and serves 46,000 students.
Sunil Mittal may be India’s most successful business leader, but he is still humble and has learned the hard way from his early days. His story is not just a story of personal triumph; it’s a blueprint for aspiring entrepreneurs. Sunil Bharti Mittal has changed the face of Indian telecommunication and spurred generations to dream big through foresight, innovation, and a relentless pursuit of excellence.
Sunil grew up with his brothers Rajan Mittal and Rakesh Bharti Mittal, who later joined him in shaping the Bharti legacy. Their mother, Lalita Mittal, held the family together with values of resilience and compassion. However, in 1992, Sat Pal Mittal, the Mittal’s patriarch, died of cardiac arrest.
Sunil Mittal’s family has always been close to him. Nyna Mittal is his wife, and they have a happy life together. They are proud parents to three children: Kavin Bharti Mittal, Sharvin Bharti Mittal, and Eiesha Mittal, two sons. Each of his children has carved out his path in life, following in their father’s entrepreneurial footsteps but still being who he is.
Even though he has been successful, Sunil Mittal is still grounded. His dynamic personality is reflected in his interests. Formula 1 is his passion, and he loves speed and innovation.
Sunil’s life is not free of challenges. He was also controversial and called to testify in the 2G spectrum case. Yet, through his resilience and integrity, he has survived adversity.
It is a testament to Sunil Bharti Mittal’s determination and vision that he went from Ludhiana to the chairman of Bharti Enterprises. He had values from his family, but he made his legacy by sheer hard work and innovation.
Sunil Bharti Mittal – Investments
Mittal invests in telecommunications and education, but his portfolio is diversified strategically. He has also invested in real estate, technology, and infrastructure companies. Bharti Enterprises has two subsidiaries: Bharti Realty, the real estate arm, and Beetel Teletech, which manufactures telecom equipment.
Mittal’s investments are not purely about financial growth but also about doing good. Whether connecting the unconnected through OneWeb’s satellite broadband service or reshaping the future of education with UpGrad, Mittal is committed to long-term solutions to some of the world’s biggest challenges.
Under his leadership, Bharti Enterprises will continue to grow and change; Mittal’s ability to see what is on the horizon and unyielding commitment to innovation will ensure that his investments make his business successful and lead to positive social change. Whether digital transformation, sustainability, or global connectivity, Sunil Mittal’s investments aim for long-term impact and progress worldwide.
Year
Invested in
Aug 8, 2022
UpGrad
Aug 25, 2022
Airtel
Jun 29, 2021
OneWeb
Mar 18, 2019
OneWeb
Dec 19, 2016
OneWeb
Jun 26, 2015
OneWeb
Sunil Bharti Mittal – Controversies
India’s telecom revolution visionary, Sunil Bharti Mittal, became trapped in a legal quagmire that could have brought his empire crashing down. The storm at the center was so controversial that courts sharply rebuked it, exposed political vendetta, and tested the resilience of one of India’s most admired businesspeople.
The drama started with allegations about Bharti Airtel’s getting additional spectrum in 2002. The Central Bureau of Investigation (CBI) said Mittal’s company and Hutch had received undue benefits when the late Pramod Mahajan, then Telecom Minister, allowed spectrum allotments from 4.4 MHz to 6.2 MHz and 8 MHz. The CBI argued that Airtel’s spectrum usage charges (SUC) were kept suspiciously low, allegedly to help the company’s initial public offering (IPO).
The case’s foundation was shaky from the start. The company countered that Airtel’s IPO was oversubscribed days before Mahajan’s decision. The SUC increase to 4% for 8 MHz was also in line with existing norms and contrary to the CBI’s claim that it should have been raised to 5%. It looked less like corporate wrongdoing and more like political maneuvering.
It peaked when a special court rejected CBI’s charge sheet with scathing remarks. The investigative agency, it said, ‘fabricated and distorted’ the facts to create the illusion of a crime where there was none. The charges’ sharp words tore apart their credibility, with the judiciary describing them as a consequence of ‘extraneous reasons.’
However, this only added fuel to the fire as then Finance Minister Arun Jaitley, in a blog post, accused the CBI of politically motivated actions. According to him, the charges were cooked up on the instructions of Kapil Sibal, a central figure in the United Progressive Alliance (UPA), to tar the National Democratic Alliance (NDA) like the UPA’s infamous telecom scandals.
The case also had obvious political overtones. The CBI alleged that Mittal and his associates benefited from the spectrum allocations to promote Airtel’s IPO. However, as industry experts and later court findings have shown, spectrum usage charges at that time primarily aligned with policy norms.
The preferential treatment allegations were also questioned about other policies, such as the 2001 WLL spectrum framework, which allowed companies to increase the spectrum without raising SUC. There was no hard evidence to suggest that the case was really about corporate malpractice and more about the political narrative.
Mittal’s reputation was damaged during the controversy, and the dismissal of the charges brought immense relief. The court’s judgment also served as a wake-up call for investigative agencies to make accusations based on evidence-free from political influence.
Mittal’s ordeal highlighted India’s precarious mix of business and politics. But despite the controversy, he emerged strong, with his legacy of being the architect of India’s telecom revolution intact.
Sunil Bharti Mittal – Awards and Recognition
Padma Bhushan (2007)
Transforming India Leader Award
GSM Association’s Chairman’s Award (2008)
Asia Businessman of the Year (2006)
Telecom Person of the Year (2006)
CEO of the Year (2006)
CEO of the Year (2005-06)
Best Asian Telecom CEO (2005)
Best CEO, India (2005
Business Leader of the Year (2005)
Philanthropist of the Year (2010)
INSEAD Business Leader Award (2011)
Doctor Honoris Causa Degrees:
Amity University, Gurgaon (2016)
Shri Mata Vaishno Devi University, Katra (2018)
ESCP Business School, Paris (2018)
Global Mobile Industry Recognition (2019)
Economic Times Business Leader of the Year (2022)
Honorary Knight Commander of the Order of the British Empire (KBE, 2024)
Sunil Bharti Mittal – Interesting Facts
Sunil Mittal began his entrepreneurial journey in 1976 by making crankshafts for local bicycle manufacturers while most teenagers dreamed of college.
Bharti Foundation, Mittal’s philanthropic arm, has established over 50 schools in Madhya Pradesh and donated ₹200 million to help establish the Bharti School of Technology and Management at IIT Delhi.
Airtel is synonymous with Mittal’s success; surprisingly, few people know about his knack for innovation. He was among the first to understand the benefits of outsourcing in the telecom industry and aligned with global players like IBM for IT services and Ericsson for network infrastructure.
King Charles III honoured Sunil Mittal, becoming the first Indian citizen to be awarded Knight Commander of the Most Excellent Order of the British Empire (KBE) in 2024. His contribution to global business and philanthropy was recognized.
Sunil Mittal is a fan of Formula 1 and loves Italian cuisine, with pizza topping his list of favourite indulgences.
Giving gifts is a tradition that extends to all sections of society. Gifts shop business had a stunning growth globally in the past decade. We will face so many problems when starting and running a gift shop. Let us discuss some gift shop business ideas.
Gifts shop business creates a significant amount of revenue all over the world. We can generate higher returns from this business. Gifts shop business had a stunning growth globally in the past decade due to the extension in the customer base and an increase in application for inventive products. We all love receiving gifts. Giving gifts is a tradition that extends to all sections of society, regardless of age, income, or region.
We will face so many problems when starting and running a gift shop. There are so many personal and cultural taste identities contained in your business. You may not be able to please all of your customers. But you can find customers who like your selections. They can remain your loyal customers for years to come. So it is essential to find those customers to increase your sales. Let us discuss some gift shop business ideas to beat the competition.
The peoples get excited when they receive a gift from others. There are so many situations in which people will give some gifts to their relatives or friends. It includes parties, marriages, functions, different festivals, etc. The demand for gifts in the market remains throughout the year. So, opening and running a gift shop will be very profitable.
Gift business ideas offer opportunities for entrepreneurs to tap into the lucrative world of personalized and thoughtful gifting. From custom gift baskets and subscription boxes to handmade crafts and event planning services, these ventures cater to various occasions and customer preferences. Gifting business ideas can range from personalized gift boxes to curated experiences, offering unique and thoughtful options for every occasion. Creative and well-executed gift businesses can thrive in a market that values sentimental and unique presents. Here are a few gift shop opening ideas:
Gift Business Ideas
Handmade Collections and Other Souvenirs – Handmade collections and other souvenirs are excellent gift store ideas. They provide a one-of-a-kind and personal touch that many gift recipients appreciate. Furthermore, handmade things are frequently perceived to be of superior quality than mass-produced items.
Customized Products – They are a great gifting business idea because they offer a unique and personal touch that customers will surely appreciate. Customized products can be anything from personalized mugs and t-shirts to custom-made jewelry and home decor items.
Novelty Merchandise – Because it is unusual and can appeal to a wide spectrum of customers, novelty stuff is an excellent gift business. Novelty gifts are frequently unique, amusing, and surprising, making them ideal for gift-giving.
Cosmetics – Cosmetics is a unique gift shop business idea and is a great way to tap into the growing demand for beauty products. Cosmetics are a popular gift for all occasions, from birthdays and holidays to weddings and anniversaries.
Ceramic Gift Items – Ceramic gift products are available at various price points. You can find tiny products for Rupees 50 and items costing more than Rupees 5000. However, higher-priced products have a higher margin than lower-priced products.
Personalized Home Decor – Personalized home decor as a gift shop business idea is a great way to tap into the growing demand for unique and thoughtful gifts. People love to give and receive gifts that are special and meaningful, and personalized home decor items can be just that.
Crystal Gift Items – This is the most profitable item in the gift item business sector. This category contains 50% of all sale records. Because this product is popular among people of all ages, it provides extremely profitable margins.
Wall Hangings – There is a wide variety of beautiful wall hangings available. Wind chimes, seashell hangings, mat ornamental hangings, embroidered work hangings, metal hangings, and more items are on the list. This type of item is a common present for family gatherings.
Tote Bags – Tote bags aren’t just for groceries—they’re a great idea for personalized gifts! Customers can add their favorite photos, quotes, names, or designs. Offer different styles and colors to suit everyone’s taste. These stylish, reusable bags are perfect gifts for anyone who needs a practical yet fun bag.
Running a gift shop business successfully is not an easy thing. You need to face competition from other shops and online retailers. You must be ready to distinguish yourself and think differently. Some of thetips for gift shop businesses that will give you benefits are given below.
1. Be Creative Through Marketing, Display, and Promotions
Gift Business Ideas – Be Creative Through Marketing
Generally, gift shops have a method of charging exorbitant prices for cheap products. You need to ensure that you are not losing new customers due to prices. One of the best ways to do this is to offer a creative bundled deal. It is very rare for someone to go to a gift shop for only one item. You can remind them of what else they want by grouping similar products together. Also, you can givediscounts on these purchases. So, the customers will spend more money on your gift shop items.
Try to keep your displays clean and fresh across the retail space. Displays are used to attract customers and highlight some products that you want to sell quickly. Find time to update the display with new designs, colors, and products. You should plan any promotional event in your shop each week, such as social media advertisements, a new product premiere, or a small in-store event.
It is important to integrate technology into your shop like any other modern retail store. Customer resource management tools and loyalty programs might not be crucial for your business type, but you require sales reporting, solid inventory management, and product analytics.
These all must be in your gift shop POS system. Also, you should look at your retail metrics like sales conversions, gross & net profit, revenue, etc. You can add mobile gift store POS tablets. This will improve the experience of customers by making the checkout process more convenient and making your lines shorter and faster.
3. Brand Yourself With New Products
Most of the gift shop products are branded with designs from nearby sights and attractions. You can brand yourself with some of your items. The products such as t-shirts or other costumes might have both a logo of your retail store and a nearby attraction. If you are doing that in the right way, your gift shop can attract more people.
You need to try to stock the shelves with everyday products. Also, you can carry a wide array of drinks and snacks. The people who are holidaying are more ready to spend their money on treats. You can sell wine and beer according to laws and regulations in your location. Also, you can begin a quick-service restaurant near to your shop. It will attract more people to your shop. Try to discover more ways to add comfort for the visitors to your shop. That will increase your sales.
5. Offer Products Aimed at Tourists
Gift shops are most normally found in places teeming with tourists. We can see gift shops in amusement parks, inside stadiums, museum exhibits, and other attractions. So you need to focus on bringing products according to the interests of tourists. But, it is not easy to execute this idea well. Customers are not interested in seeing the same items in all gift shops. Try to add more innovative and attractive items. Surprise them with new inventive products.
6. Provide Additional Services
Offering some services in addition to your products will take your store to another level. It shows how much you care for your customers. Customer loyalty plays a very important role in the gift shop business. A person should keep brainstorming about unique gift business ideas to stay ahead of the competition. This will make your gift shop different from your competitors. Some ideas for services that you can offer to your customers are given below.
Gift Wrapping
Many customers are coming to the shop to buy small items. Provide them with a simple gift-wrapping station or appoint a staff member to provide wrapping services. This is one of the best ideas to boost the sales of your gift shop, as it will provide you with opportunities to take orders for birthday gifts, corporate gifts, and more.
Global Gift Wrapping Business Market Value
The graph shows the global gift wrapping products market value from 2018 to 2025. The market value of gift-wrapping products has grown steadily over the past few years, from USD 15.11 billion in 2018 to USD 21.59 billion in 2023. The market is expected to continue to grow in the coming years, reaching an estimated USD 24.9 billion by 2025.
Tour Information or Guides
Try to make partnerships with other local tourism businesses. You can offer tours yourself. This will be a good way to interact with guests on a deeper level. Also, you can sell tickets for local attractions. Try to find a way to provide discounts on tickets.
Coffee and Snacks
If you have retail space in your gift shop, add a small bakery or cafe. It will be a great option. Most of the people like it. It will be more convenient for customers. Also, you will get more profit.
Show your guests how much you love the area where you live by educating them about the culture and history of your area. Also, you can host relevant events in your retail space.
7. Focus On Catering to a Niche Market
Don’t try to accommodate different types of consumers overly. Discover some types of products and try to become known as the location for getting that product instead of overspending on a wide expanse of merchandise. Handcrafted items are an example. Also, try to limit the number of vendors. You can reduce the paperwork and tracking. Also, it will reduce the mistake of over-ordering. When accepting large orders from vendors, you will be able to save money via bulk discounting.
These unique gift shop ideas to sell gifts are simple and effective. It will enable you to take dominance in the competition. Also, you will be able to improve your profile of business in the community. You can make consumers excited by giving offers and deals. It will bring more customers to your shop. Also, it will maximize the efficiency of your operating costs. So, these ideas will help you to make an advantage against competitors.
8. Innovative Customer Services
Modern consumers want convenience—things like one-stop shopping, fast last-minute delivery, and a simple buying process. Make sure your online or offline gift business offers these features. Providing 24/7 service will also give your business an extra boost.
Today’s shoppers are more picky, looking for unique and high-quality products. To stand out, try using creative packaging, offering eco-friendly options, and personalizing gift boxes to make the experience special.
9. E-commerce Integration
Utilize online sales channels to broaden your customer base and access the digital market. A user-friendly website and engaging social media presence can boost brand visibility and drive online sales. Utilize e-commerce platforms, email marketing, and targeted ads to attract more customers. Offering seamless online shopping and delivery options can further enhance customer satisfaction and loyalty.
10. Networking and Collaboration
Partner with local artisans, artists, and small businesses to offer unique, handcrafted products in your store. This not only supports the local community but also creates a distinctive product offering that can attract a dedicated customer base. By highlighting the stories behind these products, you can create an emotional connection with your customers, encouraging repeat business and word-of-mouth referrals.
FAQs
Is gift shop a profitable business?
Gifts shop business creates a significant amount of revenue worldwide, so it is indeed a great idea.
What are the best category of gift items for gift shops?
Some best categories of gift items for online gift shop ideas include:
Wall Decor
Customized gifts
Speciality Store Products like books, flowers, and Furniture
Which is the best site to send gifts in India?
Indian gift portal
Flipkart
Gifts2India
Archies online
The grommet
How to start gift shop business?
Make a gift shop business plan, Know your market, and Establish your own physical store. Determine which audience to target. Select the best source, and Optimize your website for search engines. Understand your competition and maintain a social media presence.
What are gifts business ideas?
Some unique gift business ideas can include customized items, subscription boxes, and eco-friendly gift sets, catering to various customer preferences and occasions.
How to open gift shop?
To open a gift shop, start by selecting a niche or theme for your products, such as personalized or eco-friendly gifts. Secure a location with high foot traffic or set up an online store. Source unique and quality gifts from wholesalers or artisans, and set competitive prices. Market your shop through social media and local promotions to attract customers. Make sure to comply with local business licenses and regulations.
Today, one can easily launch their very own online business while sitting comfortably at their home, without investing a lot of money. Online shopping has developed significantly over the previous decade, and eCommerce companies now generate billions of dollars in monthly sales all across the globe.
People are depending on online purchasing platforms more than ever since the outbreak of the pandemic, and many are also using this opportunity to develop their online empires. The online reselling industry is no different in that aspect.
If you too are considering starting your reselling business, Meesho is a platform you can consider. Meesho is an online resale platform that allows anybody to establish a company without having to put up any money. Leading the reselling landscape of India, Meesho takes pride in reselling indeed!
Here is the story behind the popular Indian reselling platform: MeeshoStartup Story, History,Founders, Mission and Vision, Business Model, Revenue Model, Funding andInvestors, Competitors, and more.
Meesho is an online shopping platform. The online reseller platform perhaps requires no introduction. It has carved a niche for itself and has gained popularity among consumers and retailers alike by making online reselling and shopping hassle-free and affordable. Meesho provides secure and timely transactions, as well as low-cost returns and shipping.
Meesho – How does it Work?
Meesho, India’s largest resale platform, was founded in 2015. The Meesho app essentially connects manufacturers to resellers. Manufacturers list their commodities on the Meesho shopping app, which allows merchants to choose from any of their products and sell them to customers using social networks like WhatsApp, Facebook, and Instagram. Clothing, accessories, furniture, culinary utensils, and cosmetics producers are among the suppliers who list their products on Meesho.
Independent resellers can then choose any product from these suppliers and sell it to customers using the social media sites mentioned. It’s as simple as posting a photo of the item on Instagram or writing a Facebook post to sell it. After the customer and the reseller have agreed on the purchase, the Meesho items are delivered to the buyer’s home. Buyers have the option of paying with a debit or credit card or cash on delivery for a secure and quick procedure of transaction.
The Indian eCommerce Market is expected to develop significantly, reaching an estimated value of USD 112.93 billion in 2024, according to a Statista report analysis.
The market is predicted to maintain its upward trend and reach USD 299.01 billion by 2029, with a compound annual growth rate (CAGR) of 21.5% over the forecast period of 2024 to 2029. This development trend highlights the robust expansion and considerable prospects found in India’s eCommerce industry.
Meesho – Founders and Team
Meesho startup was founded by Sanjeev Barnwal (Co-Founder and CTO) and Vidit Aatrey (Co-Founder and CEO) in 2015.
Sanjeev Barnwal is the Co-Founder and Chief Technological Officer (CTO) of Meesho. Sanjeev Barnwal has also worked at Sony Mobile Communications as an Android Camera Hardware Abstraction Layer Architecture Designer and Developer. He graduated from IIT Delhi with a bachelor’s degree in engineering and has also worked with Sony Corporation before that.
Vidit Aatrey
Vidit Aatrey is the Co-Founder and CEO of Meesho. Before Meesho, the Meesho Co-founder worked with the mobile marketing platform InMobi, where he designed growth strategies for the company. Aatrey has also seen the Operations part of the business when he was with ITC Limited. He also graduated from IIT Delhi with a bachelor’s degree in engineering.
Meesho works with an employee strength of 1,001-5,000 employees in its team.
In 2015, when Meesho was started, it was known as FASHNEAR. The idea behind FASHNEAR was just like Swiggy or Zomato. FASHNEAR dealt with Fashion-related goods and allowed customers to buy clothes and fashion accessories from the shops in their locality. Local shops selling apparel and accessories could register with the FASHNEAR app, and customers could order from these local shops, and delivery persons were there to deliver the goods.
“Sanjeev and I fulfilled every role during this period. We did the inventory of every shop, spending entire days taking photos of all the products and cataloging them on our app. I also worked as the delivery person in the beginning because I wanted to hear my customer’s feedback firsthand.” Vidit said speaking about FASHNEAR’s initial days.
However, soon the founders started to notice some flaws in the FASHNEAR business model. Some major drawbacks they noticed were that consumers were not very concerned about buying clothes from local shops. Besides, the shop owners also wanted to increase sales by selling their products online in different locations of the country rather than selling their products locally. These problems inspired Vidit and Sanjeev to work on a better business model. By the end of 2015, Fashnear was renamed as ‘Meesho’.
The founder duo visited many shopkeepers and resellers to identify their problems. They noticed that many shopkeepers were already selling goods through WhatsApp, but their reach was limited because they delivered their goods only locally. They also found out that most of the shops registered on Meesho were operated by women, and these women sold their goods out of their homes rather than in any physical shops.
The business model of Meesho has been built considering these facts and issues, and currently, with Meesho, women can comfortably start a reselling business from home without owing any inventory. Meesho also empowers small shops and manufacturers to deliver their goods across the country, while Meesho takes care of the delivery of the products, facilitates COD options, and ensures that consumers can seamlessly return the products if they wish.
Thus, Meesho serves as a bridge between suppliers (manufacturers and shopkeepers who list their products on Meesho), resellers, and customers. Meesho also helps suppliers manage their inventories. Meesho online shopping offers a wide range of affordable products, from fashion to home essentials.
Meesho Story – The Rise from a Social Commerce Startup to Becoming a Unicorn
Meesho – Name and Logo
Meesho Logo
Meesho New Logo: The company’s new logo depicts “Aam” as hospitable and welcoming while reflecting “Jamuni”‘s relationship with desire. The company’s position as a comprehensive platform serving the daily needs of Indian shoppers will be reinforced by this rebranding initiative, which will also increase its attractiveness and resonance with consumers.
Meesho is owned by “Fashnear Technologies Private Limited.”
Meesho – Mission and Vision
Meesho’s mission is to “Democratise Internet Commerce for Everyone.”
The company’s vision is to “enable 100 million small businesses in India, including individual entrepreneurs, to succeed online.”
Meesho relaunched Farmiso as Meesho Superstore in its rebranding attempt on April 5, 2022. This was done to focus on the customer demands of everyday needs in Tier 2 markets and beyond that.
The company boasts of the fact that it has successfully managed to expand its grocery service to 6 states within 9 months.
Meesho Superstore Logo
This rebranding and integration of the Meesho grocery app Farmiso to the main Meesho app is quite significant and is in line with the quest for super apps, which are to dominate the Indian and global digital ecosystem soon. Furthermore, with only 0.5% of the grocery sales happening digitally, it is really important to note that Meesho has a massive market that it can tap into.
Meesho Mall
Meesho is taking a significant step forward with the introduction of ‘Meesho Mall,’ aligning with its ‘User First’ approach. This strategic expansion signifies Meesho’s dedication to meeting the diverse needs of the Indian population. ‘Meesho Mall’ will offer a wide range of products, including branded items, aimed at enhancing the shopping experience for Indian consumers.
Meesho – Business Model
Meesho’s business model deviates little from the direct-to-consumer (D2C) paradigm. In contrast to the direct-to-consumer (D2C) paradigm, which involves producers selling products directly to customers, Meesho functions as a platform that facilitates transactions between businesses, namely between manufacturers and reselling business owners.
These resellers work as go-betweens, bringing together producers and final customers. Meesho essentially operates in a business-to-business (B2B) environment. The corporation made this adjustment in 2021, moving away from its original reseller-centric model. Meesho no longer just facilitates transactions; instead, it helps companies increase sales, earning fees and commissions in the process.
Meesho – Revenue Model
Meesho earns money from different resources; some of the prominent ones are:
Commission
The commissions Meesho charges from the vendors have been a major source of their revenue. When a reseller sells a product on the Meesho platform, the seller of that product will be charged a certain percentage of commission. The commission-based business is similar to those of e-commerce platforms like Amazon, Flipkart, and others.
As per the company’s website, a 0% commission is charged from the suppliers on all product categories. No commission is charged from the resellers.
Logistics
Meesho offers logistics services to the suppliers and charges a fee for the same. The Meesho team is working on reducing the logistics charges to increase the profitability of the sellers.
Advertisements
A portion of Meesho’s revenue comes from advertisements. As the number of sellers on the platform is increasing, sellers who want to highlight their products in front of the resellers and customers on the platform pay a certain amount for advertising their products.
Meesho has announced its largest Employee Stock Ownership Plan (ESOP) buyback scheme to date, with a total of Rs 200 crore (about $25 million) as per the news report of March 13, 2024.
With prior buybacks of $1 million in February 2020, $5 million in November 2020, and $5.5 million in October 2021, this is the horizontal e-commerce unicorn’s fourth buyback. This project has the potential to benefit about 1,700 current and former employees, ranging from junior executives to senior leadership positions.
Meesho – Challenges Faced
Meesho faced several difficulties in the early going that are common for a young company in the online retail space. Online retail is becoming more and more popular, but there are still a lot of challenges to overcome, like limited transaction possibilities, shipping limitations, and shortages of supplies. The CEO underlined Meesho’s decision to forgo keeping inventory in their warehouses to promote small businesses from the beginning.
But these difficulties were made worse by the COVID-19 pandemic, especially in terms of supply chain interruptions. Meesho and other companies in the industry continued to face difficulties even after the government took action to loosen mobility constraints.
Some of the other challenges faced by Meesho are:
Pandemic-caused Challenges
COVID-19 had a significant negative impact on Meesho’s business, which prompted the company to concentrate on building logistical networks in the face of inconsistent state laws. Closings in the fashion sector led to a shift in focus toward selling necessities like groceries and masks to sustain resellers. To support resellers and build trust in the face of uncertainty, a microcredit strategy was implemented.
Change in Strategy, Huge Cash Burn, and No Profit
Meesho changed its business model from social commerce to business-to-consumer (B2C) in response to fierce competition from Flipkart and Amazon, substantial financial burn, and little profit. To reorganize the supermarket industry and guarantee its long-term viability, layoffs took place.
Meesho Layoffs
To streamline operations, Meesho let go of 150 workers in April 2022 and 251 in May 2023.
Significant Counterfeit Issues
Meesho had to deal with counterfeit goods, which led to legal lawsuits and quality assurances to protect its brand and customers’ faith.
Meesho Smear Campaigns
Influencers who disseminate false Meesho information may face legal action for doing so. Legal letters were delivered to them.
Meesho – Funding and Investors
Meesho has raised $1.4 billion in 13 rounds of funding. Their latest funding was raised on May 6, 2024, from a Venture – Series Unknown round.
Here are the funding details:
Date
Round
Amount
Lead Investors
May 6, 2024
Venture Round
$275 million
–
Oct 13, 2023
Secondary Market
$52.5 million
Westbridge Capital
Oct 20, 2021
Debt Financing
–
Trifecta Capital Advisors
Sep 30, 2021
Series F
$570 million
B Capital Group, Fidelity Management and Research Company
Apr 5, 2021
Series E
$300 million
SoftBank Vision Fund
Aug 12, 2019
Series D
$125 million
Prosus & Naspers
Jun 14, 2019
Corporate Round
$25 million
Meta
Nov 5, 2018
Series C
$50 million
DST Partners, RPS Ventures, Shunwei Capital
Jun 7, 2018
Series B
$11.5 million
Sequoia Capital India
Oct 12, 2017
Series A
$3.4 million
Elevation Capital
Aug 18, 2016
Seed Round
$120K
Y Combinator
Meesho – Shareholding
Meesho’s shareholding pattern as of September 2021, sourced from Tracxn:
Meesho Shareholders
Percentage
Series Seed
2.7%
Series A
10.9%
Series A1
0.2%
Series B
12.2%
Series C
10.9%
Series D1
9.6%
Series D2
2.7%
Series E
11.5%
Series F
10.9%
Other Capital
28.4%
Meesho Shareholding
Meesho – Investments
Meesho’s investment in Elenas is a clear indication of the company’s faith in the business—it has supported Elenas twice. Meesho first contributed $2 million on October 15, 2020, as part of the seed investment round. Meesho strengthened its support by contributing a further $6 million on March 4, 2021, during the Series A investment round, building on this promise.
This follow-up investment demonstrates Meesho’s faith in Elenas’ potential and ambition.
Meesho – Growth
Meesho’s growth highlights are:
It has over 50 lakh products as of August 2024
It has 650+ product categories as of August 2024
The company has 11 lakh+ sellers as of August 2024
Meesho has 14 crore+ customers as of August 2024
It has served 19,000+ pincode as of August 2024
It has 1.1 million resellers as of March 2023
Meesho has passed 14.5 crore app downloads as of 2023
It has more than 20,000 manufacturers from more than 500 towns
Financials
Meesho announced it became profitable in June 2023 and the company expects to be fully profitable for the entire fiscal year by FY25 or FY26. Its adjusted losses dropped by 97%, reaching INR 53 crore for the fiscal year ending in March 2024.
In FY 2024, Meesho’s revenue grew by 33% to INR 7615 crore, compared to INR 5735 crore in FY 2023.Total expenses increased by 8% to INR 8150 crore. Net loss reduced significantly by 82%, from INR 1675 crore in FY 2023 to INR 305 crore in FY 2024.
Meesho Financials
2023
2024
Operating Revenue
INR 5735 crore
INR 7615 crore
Total Expenses
INR 7564 crore
INR 8150 crore
Employee Benefit Expenses
INR 726 crore
INR 750 crore
Logistics & Fulfilment Expenses
INR 4817 crore
INR 5927 crore
Server & Software Tools Expenses
INR 567 crore
INR 575 crore
Net Loss
INR 1675 crore
INR 305 crore
Meesho – Partnership and Tie-ups
Meesho has partnered with many companies: some of the prominent ones are:
Rural Development Ministry of the Union Government
Meesho has partnered with the Rural Development Ministry of the Union Government to promote and market goods made by Self Help Groups (SHGs) from different parts of India, including handloom and handicrafts. Through this partnership, SHGs will be given more opportunities to market their goods while also being empowered and given a platform to do so.
Vision and AI Labs of IISC
Meesho and the Indian Institute of Science’s (IISc) Vision & AI Lab (VAL) have signed a one-year Memorandum of Understanding (MoU). This collaboration seeks to help Meesho advance research in key areas like multimodal large language models (LLMs) and generative artificial intelligence (AI).
“We use AI for product recommendation, product ranking, making listing easy for sellers, suggesting price points to sellers, etc,” said co-founder and CTO Sanjeev Barnwal.
LazyPay
Meesho has joined forces with LazyPay in a partnership designed to enhance the checkout process, providing shoppers with seamless and faster transactions and ultimately improving their overall shopping experience.
Cashfree
The company has partnered with cash-free payments and is set to introduce a feature that allows for instant refunds on cash-on-delivery (COD) orders processed through its platform, streamlining and expediting the refund process for customers.
iCubesWire
It has a partnership with iCubesWire and with this collaboration it will take steps to to improve product discoverability for Indian consumers, enhancing their online shopping experience.
Plum
Meesho and Plum, a platform for employee health insurance, have partnered strategically to raise the bar for employee benefits and care.
We Hub
We Hubhas formed a Memorandum of Understanding (MoU) with Meesho to support female entrepreneurs in reaching financial independence by providing them with increased market exposure and prospects.
Meesho – Advertisements and Campaigns
Meesho Campaign
Meesho announced the launch of its “Sahi Sahi Lagaya Hai” campaign in September 2021 to appeal to the tier 2 markets and beyond. Through this campaign, Meesho highlights how its consumers benefit from a wide range of products across diverse categories at affordable prices from sellers all across the country with the help of the Meesho app.
Meesho stated in an interview that the company plans to go public in the following 12 to 18 months, as per the news report from August 2023. This action demonstrates the company’s faith in its business plan and preparation for the next stage of expansion. Meesho would get more funding and market exposure via a possible stock market offering, which would strengthen its position in the e-commerce industry.
Meesho aims to onboard 10 million small businesses by 2027, a significant increase from its current seller base of 1.3 million. This goal represents a ten-fold expansion.
FAQs
What is Meesho shop?
Meesho, which was formed as “meri eshop“, was founded as a social commerce platform in 2015 by Sanjeev Barnwal and Vidit Aatrey, and operates as an online reselling app for users. Meesho has recently started pivoting an eCommerce model. Meesho online platform helps small businesses and individuals start their online stores with zero investment.
What does Meesho do?
Meesho, based in Bengaluru, is an online reseller platform that aspires to build an environment where anybody can establish a business with no financial investment.
Who are Meesho founders?
Meesho owners are Sanjeev Barnwal and Vidit Aatrey.
When was Meesho founded?
Meesho was founded in 2015.
Which companies do Meesho compete with?
Volusion, Elenas, DealShare, GlowRoad, Shop101, Huboo, and Drop are among Meesho’s major rivals.
How to close the Meesho account?
You can easily close your Meesho account, and there are 3 convenient steps you can follow to do it:
You can email the company
You can call the company and ask them to close your Meesho account
You can message the Twitter or Facebook handle of the Meesho company to delete your account
What does Meesho supplier offer?
Meesho supplier helps the Meesho sellers to sell online to 14 crore+ customers at 0% commission.
How to log out from Meesho?
You can log out from the Meesho supplier app without any hassles just by clicking on the Log Out option.
What is the Meesho customer care number?
The Meesho care number is 080-61799600.
What are the Meesho return charges?
Meesho return charges for the customer, if the product is returned within the SLA, is 0.
Is Messho an Indian company?
Meesho is an online shopping platform owned by the Indian company Fashnear Technologies Private Limited.
Rishi Mundra
