Deepinder Goyal-led Zomato has announced that it has officially changed its company name to “Eternal Ltd,” with the board approving the move on February 6, 2025. This change will apply to the company itself, but the Zomato brand and app will remain the same. Along with the new name, the company’s stock ticker symbol will also shift from “Zomato” to “Eternal.”
The decision to rebrand comes after Zomato began using the name “Eternal” internally when it acquired Blinkit. The company felt that this name better represented its broader ambitions as it expanded beyond its original focus on food delivery. Eternal will now encompass four major businesses: Zomato, Blinkit, District, and Hyperpure. This rebranding reflects the company’s shift towards becoming a more diversified entity, with operations extending beyond just the food delivery sector.
While the rebrand marks a major transition for the company, the Zomato app, which is a key part of its business, will continue to operate under the same name. The focus of the name change is to differentiate the company’s broader operations, which have evolved a lot over time. By adopting the name Eternal, Zomato aims to position itself for future growth and success across multiple business segments.
The timing of the name change coincides with some challenges in the food delivery industry. Zomato, along with its competitor Swiggy, has seen a slowdown in demand since November 2024. Despite these challenges, the company reported a 64% year-on-year increase in revenues for Q3FY25, reaching INR 5,404 crore. However, its profit after tax (PAT) dropped by 57%, standing at INR 59 crore compared to INR 138 crore in the same quarter the previous year.
The rebranding to Eternal is part of Zomato’s effort to diversify its offerings and adapt to changing market conditions. The company’s decision to rename itself aligns with its broader goals of evolving beyond food delivery, with new initiatives in areas like grocery delivery and food sourcing through Blinkit and Hyperpure.
The approval from the board is the first step, and the company will now seek approval from its shareholders to finalise the name change. As Zomato transitions into Eternal, it hopes to solidify its position as a leader in multiple sectors, while continuing to navigate the complexities of the food tech industry.
A name synonymous with innovation in the e-commerce logistics industry, Shiprocket’s CEO and co-founder is Saahil Goel. He revolutionized the logistics and delivery ecosystem in India, transforming the shipping needs of small and medium-sized businesses, with ease and efficiency, scaling them up.
But little did Saahil know that his company would be valued at over $1 billion in a few years. In 2022, Shiprocket joined the list as one of India’s top unicorn startups by joining the ranks with big leagues such as Amazon and Flipkart.
So, how did he build Shiprocket into a billion-dollar company? The answer is simple: Persistence, Adaptability and an ability to learn from his mistakes.
Born and raised in a middle-class business family in Delhi, he completed his schooling at St. Columba’s School in the city itself. After completing his schooling, he attended Drexel University College of Engineering, where he pursued a degree in Computer Science.
Saahil also completed his MS and MBA from the University of Pittsburgh and returned to India. Here he started his career as a Business Analyst for Max Life Insurance, after which he worked as a Technology and Process Consultant at SDLC Partners (a subsidiary of Highmark Blue Cross Blue Shield).
While working with SDLC partners Saahil realized that entrepreneurship was his forte. He started experimenting by becoming a founding member of Kasper Consulting. In 2012, he and his friend Gautam Kapoor founded BigFoot Retail Solutions Private Limited. His priority was fixing problems that small and medium-scale businesses faced in India.
After much deliberation, Saahil realized that logistics was the main pain point for small and medium-sized businesses in India. So, the idea of Shiprocket was born. onSaahil Goel, Gautam Kapoor, and Vishesh Khurana, Shiprocket offered automated shipping solutions to small and medium sellers across India.
Saahil started his career as a Business Analyst, but realized early on that entrepreneurship was his actual dream. After founding BigFoot Retail Solutions Private Limited, with Gautam Kapoor in 2012, he focused more on supporting small and medium businesses in the Indian Economy. With logistics being the main pain point for most business owners, the idea of Shiprocket emerged.
In 2017, Goel noticed the gap where SMBs found it difficult to ship their products. Earlier, small businesses spent a lot on shipping and endured unreliable courier services and an inconsistent order management system. Goel and his team came up with a technology-driven logistics platform by integrating multiple courier partners, automatic tracking, and optimized delivery time.
Under his leadership, Shiprocket has scaled rapidly to serve more than 250,000 sellers and cover over 29,000 PIN codes across India and internationally. While Shiprocket is primarily focused on shipping solutions, Goel noticed the urgent requirement for an extensive logistics ecosystem which could be more helpful to e-commerce businesses.
These led him to launch Shiprocket Fulfillment, warehousing, and inventory management for the sellers, whereas Shiprocket Engage emerged as a postpurchase engagement platform through which sellers enhance customer communication for reduced return rates. Further, Shiprocket X is developed to make international shipments seamless for Indian sellers; hence, they can expand across the globe without much hassle.
Goel played a very prominent role in creating strategic investments into Shiprocket to the tune of over $300 million from various top investors-including Zomato, Temasek Holdings, Lightrock India, Bertelsmann India Investments, and Info Edge Ventures.
One other notable milestone for Goel is how Shiprocket is contributing to India’s D2C market. His firm has enabled thousands of D2C brands with AI-driven order management systems, smooth multi-channel integrations such as Amazon, Shopify, WooCommerce, etc., and intelligent courier allocation for faster deliveries. Such innovations have allowed the SMBs to scale up effectively, competing head-to-head with large e-commerce marketplaces.
Under his leadership, Shiprocket also ventured into the global markets through Shiprocket X, enabling Indian brands to ship to more than 220 countries. In 2025, Shiprocket is reported to launch an IPO and raise INR 2000 to INR 2500 crores.
Goel is a great believer in technology-driven logistics and has ensured that AI and machine learning have been integrated into the Shiprocket platform to help optimize shipping costs, predict delivery times more accurately, and reduce return rates. Data analytics and automation ensure that Shiprocket gives a better customer experience while helping businesses save on logistics expenses.
A disruptor in the logistics and e-commerce space, Saahil Goel’s strategic vision has made Shiprocket India’s largest tech-driven logistics company. For helping ease e-commerce shipping, enabling SMBs, and digitizing supply chains, he has won quite a few accolades, finally making his place among India’s top entrepreneurs.
Saahil Goel – Personal Life
Saahil Goel is said to be a quiet, focused leader. He likes not coming into the media spotlight and believes his work should speak for himself. He lives with his wife, a physical therapist and full-time homemaker, his daughter, and his dog or CHO (Chief Happiness Officer) Bruno. His dedication to building Shiprocket into a leading e-commerce logistics platform reflects that he cares about making a difference in India’s startup ecosystem.
The journey of Saahil Goel as an entrepreneur is really inspiring. From when he founded Shiprocket in 2017, Saahil took the firm to become one of the most significant e-commerce logistic platforms in India. With innovation, customer-centric solutions, and technology, Saahil Goel is surely one of the most important personalities in the world of e-commerce in India.
Saahil Goel – Investments
Date
Company Name
Lead Investor
Funding Round
Amount Raised
Feb 22, 2023
Crest
—
Pre Seed Round
$800K
May 14, 2022
Listed
No
Seed Round
Rs. 123.9M
Apr 17, 2022
UrbanPiper
—
Series B
$24M
Saahil Goel – Philanthropy
Saahil Goel is all about growing Shiprocket, which he is so passionate about since its inception for empowering small businesses and startups. His vision behind Shiprocket does not only look at logistics as a service; it looks into making the entire e-commerce ecosystem accessible to the smallest of small businesses. To this end, Goel says he is more than willing to empower Indian entrepreneurs to succeed on the global map.
As a mentor to the Indian startup ecosystem, Goel also mentors young entrepreneurs and helps them navigate the complexities of scaling a tech-driven business.
Saahil Goel – Awards and Recognition
Shiprocket has emerged as one of the best logistics and e-commerce platforms in India, and the credit for taking the company’s efforts to reach small and medium-sized businesses in terms of advanced technology goes to Goel. Some of the awards they have received are:
Forbes India 30 Under 30, 2020: Saahil Goel was featured in the Forbes India 30 Under 30 in the category of Technology. Being featured here recognizes the achievement of Saahil Goel as an entrepreneur and as the leader that he is to this day.
Economic Times StartUp Awards, 2020: Shiprocket under Goel won multiple accolades at Economic Times Startup Awards which included awardds for leadership in growth for the e-commerce logistics sector.
Rapido is one of India’s largest bike taxi services that gives people very affordable, fast, and hassle-free last-minute connectivity apps. The app itself is very user-friendly, and combined with a price factor makes its services extremely efficient in changing urban mobility.
Started by Aravind Sanka, Pavan Guntupalli, and Rishikesh SR in 2015, Rapido, which began its operations in Bangalore, has since expanded to more than 100 cities across India. In the micro-mobility space, where competition comes in from players like Ola, Uber, and Bounce, Rapido has still managed to establish a niche.
By focusing on convenience, affordability, and local needs, Rapido has gained significant market share in the urban transport segment.
In this article, let’s learn about Rapido’s marketing strategy that contributes to its rising success.
Rapido operates in an extremely competitive market for urban mobility. It competes with large established ride-hailing platforms, local startups, and traditional transport options. The following are closer looks at the competitors:
Ola and Uber: These ride-hailing giants also offer bike taxis along with cabs and autos, hence customers can pick up according to their needs. Their brand and customer base are very strong which makes them a big competitor.
Bounce and Vogo: These bike-rental platforms provide self-ride options, targeting customers who prefer independence and flexibility. While they differ from Rapido’s driver-centric model, they tap into the same customer base for short-distance travel.
Public Transportation: Affordable and widely available options like buses, metros, and local trains are often the default choice for price-sensitive customers.
Local Auto-Rickshaws and Taxis: These alternatives provide convenience and are deeply embedded in local commuting habits. However, their inconsistent pricing and limited tech integration work in Rapido’s favor.
Competitive Advantages of Rapido
Affordability: Rapido provides fares consistently lower than Ola and Uber, and thus, it always is the number one choice of budget-friendly users.
Last-Mile Connectivity: Trying to figure out short-distance travel is what Rapido has niche-ed into where traditional ride-hailing services are less efficient.
Localized Focus: Rapido’s marketing strategies cater to regional needs, including vernacular campaigns and city-specific offers.
Rapido’s offerings are meticulously designed to tackle urban commuting challenges and diversify its service portfolio.
Bike taxi services provide connectivity in the last miles while saving the pocket of commuters traveling through congested urban areas.
Rapido Auto: It is a recently launched feature that allows booking directly in auto-rickshaws. It caters to people who have only short- to medium-distance travel preferences using this mode of transportation.
Logistics and Delivery Services: Rapido has ventured into hyperlocal delivery, collaborating with businesses to ensure fast and reliable delivery solutions.
The company maintains high service standards through a structured onboarding process for its Captains, routine vehicle inspections, and a robust customer feedback system to enhance service quality.
Price Strategy
Rapido utilizes both penetration pricing as well as dynamic pricing in response to diverse segments of the marketplace:
Penetration pricing: It attracts its first-time users through discounted rides and promo codes to gain new customers and brand loyalty.
Dynamic Pricing: This is how fare adjustments, for instance, on-demand, traffic, and availability will ensure a balanced equilibrium of the fares between what is reasonable to the customer while making the platform profitable.
Rapido also capitalizes on seasonal opportunities through special offers and promotions during festivals and holidays, thus encouraging higher ride volumes.
Place Strategy
Rapido, the company operating over 100 cities, focused on strategic spots in urban as well as semi-urban places:
Major cities like Delhi-NCR, Bangalore, Hyderabad, etc. act as a potential market for bike taxis as these provide a pragmatic alternative in the wake of traffic congestion.
Tier 3 Cities: Rapido will expand its presence in smaller cities to meet the growing demand for affordable, accessible transportation.
Hyperlocal Logistics: The brand has reached the e-commerce and food delivery sectors by strengthening its logistics network.
Promotion Strategy
Rapido’s promotional efforts effectively combine traditional and digital marketing to enhance brand visibility and customer engagement:
Referral Programs: Encouraging users to refer friends through incentives, which drives organic customer acquisition.
Localized Campaigns: City-specific promotions, such as discounted rides during festivals and local events, resonate with regional audiences.
Social Media Engagement: Active campaigns on platforms like Instagram and Facebook include influencer collaborations and user-generated content to amplify reach.
Strategic Partnerships: Collaborations with payment platforms like Paytm and PhonePe provide users with cashback offers, making rides more affordable.
By leveraging these marketing mix components, Rapido continues to position itself as a leading, customer-focused urban mobility solution.
Rapido’s marketing strategy remains a customer-centric approach that advocates for innovative service offerings, expansion in local markets, and strong brand positioning. By the basis of this brand, user satisfaction is at the core- through transparent pricing, quick and reliable services, and loyalty incentives in terms of discounts and this strategy will result in retaining existing customers while also attracting new customers through seamless and cost-effective commuting experiences.
In a bid to diversify its portfolio and cater to the changing needs of the market, Rapido has gone beyond traditional bike taxis. The company is integrating electric vehicles into its fleet, reducing operational costs while pushing the cause of sustainable transportation. This forward-thinking approach is in line with global trends toward greener mobility. Besides, Rapido Auto was introduced for users who require auto-rickshaws for longer rides, thus offering more flexibility and convenience.
Localized growth is the other key enabler of this strategy at Rapido. The company localizes its offerings to regional needs, supports multiple languages in the app, and caters to diverse audiences. For example, festive discounts in certain cities additionally add to its appeal among local sensibilities. All these efforts reflect the commitment of Rapido to becoming a trusted mobility partner in big as well as small towns.
With affordability, convenience, and being ‘eco-friendly, ‘ Rapido stands as the cheaper, easier alternative to other commutation methods that have long existed. Through solving urban transportation-related issues with a different solution approach, the brand is steadily claiming its own niche in India’s mobility sector.
Digital Marketing Strategy of Rapido
Rapido’s digital strategy is tailored to engage with urban, tech-savvy audiences through a mix of social media marketing, influencer collaborations, SEO-driven content, app-based engagement, partnership marketing, and data-driven personalization.
Social Media Marketing
Rapido actively uses platforms like Instagram, Facebook, and Twitter to connect with users. On Instagram and Facebook, the brand shares engaging content, including ride tips, safety measures, and promotional offers. User-generated campaigns, where customers share their #GoRapido stories, help amplify reach and foster community engagement. On Twitter, Rapido focuses on real-time customer support to build trust and resolve issues promptly. Hashtag campaigns like #RapidoRides and #SafeCommutes further boost brand visibility and engagement during promotions.
Rapido Launches IPL Campaign with Ranveer Singh
Influencer Collaborations
To expand its reach, Rapido collaborates with regional influencers, including YouTubers and Instagram personalities. These influencer partnerships highlight Rapido’s services, particularly in specific regions, making the brand relatable to diverse audiences. Influencers often share their experiences with Rapido, creating authentic endorsements that resonate with their followers.
SEO and Content Marketing
Rapido exploits the advantages of SEO and content marketing to assert itself as the leader in mobility solutions in cities. It creates content such as articles and blogs talking about urban commutability problems, solutions for traffic problems, and more environmentally friendly commute options. While using optimized terms such as “affordable bike taxi,” “bike delivery service,” and “last-mile connectivity” to find relevance on a search engine platform, it pulls in more users into its service through these platforms.
App Engagement
The Rapido app plays a central role in customer retention and engagement. Push notifications alert users about discounts, ride summaries, and exclusive offers, ensuring regular interaction with the platform. Loyalty programs and gamification elements, such as milestones for earning free rides, encourage users to remain active and committed to the brand.
Partnership Marketing
Rapido’s collaborations with fintech apps like Paytm and Google Pay, as well as food delivery platforms like Swiggy and Zomato, demonstrate a strategic approach to partnership marketing. These collaborations bundle services and cross-promote offerings, increasing user convenience while boosting brand awareness.
Data-Driven Personalization
Rapido utilizes AI-driven analytics to personalize the user experience. Recommendations for frequent destinations, preferred ride times, and tailored offers based on individual behavior make the platform more intuitive and user-friendly. High-frequency riders, for example, might receive exclusive discounts or incentives, ensuring their continued loyalty.
Through its comprehensive marketing and digital strategies, Rapido effectively addresses the challenges of urban mobility while building a strong, tech-savvy brand presence in the Indian market.
Rapido’s Marketing Campaigns
Bike Wali Taxi, Sabse Saxi: This ad showed how Rapido Bike Taxis provided solutions for everyday commuters. Their 360-degree marketing campaign aimed at highlighting the new and cost-effective travel.
Rapido’s Campaign – Bike Wali Taxi, Sabse Saxi
5 nahi toh 50: This campaign promised users an auto allocation within 5 minutes of searching. But the 50 came into play when Rapido could not find an auto, they would offer 50 coins as a reward. This customer-centric approach changed the commuting experience in Chennai, Bengaluru, Delhi, Mumbai, and Pune.
#NoStressSawari: The bike taxi platform launched its digital marketing campaign to highlight the struggles commuters face when traveling to work by train, bus, or shared auto. The campaign was made of three short films of 20 seconds each. The idea was to let people know that Rapido has bike taxis that offer convenient and affordable transportation.
Future of Rapido
Being an innovative approach to solving the challenges of urban commuting and at the same time offering affordability, convenience, and customer satisfaction, Rapido has gained success. The brand diversified its offerings to customer preferences, now providing services such as Rapido Auto and electric vehicles, further solidifying its position as a reliable mobility partner. With localized expansion, multilingual application support, and local offers, this demonstrates the awareness of the region’s requirements. In Tier 1, Tier 2, and Tier 3 cities, it helps create an association for the brand. Thus, such customer-centric policies with a standardized quality of services and price transparency helped Rapido take its distinctive space in the Indian mobility market.
Conclusion
On the digital front, Rapido’s targeted social media campaigns, influencer collaborations, and robust app engagement strategies have elevated its visibility among urban, tech-savvy audiences. With the brand integrating seamlessly into customers’ daily lives, it leverages partnerships with fintech and food delivery platforms to increase convenience. The application of AI in Rapido for personalized recommendations and tailored offers demonstrates its commitment to innovation and user experience. In its continued growth and innovation, Rapido will lead the urban mobility sector and set new standards in sustainable, affordable, and tech-driven transportation solutions.
The entrepreneurial wave is going high these days. Thanks to a show like Shark Tank India, we are able to witness, enjoy, and learn from this wave.
The show made us aware of so many names in the world of entrepreneurship that are responsible for making big brands work. One such name is Vineeta Singh, the co-founder, and CEO of one of women’s favourite cosmetics brands, Sugar Cosmetics.
This woman has set up a great example for young women entrepreneurs. She has not only achieved success for herself but also acts as an inspiring force for so many budding entrepreneurs.
Vineeta is an entrepreneur, wife, mother, and keen investor. She believes in the power of ideas and has funded many startups on the show Shark Tank India like CosIQ, Skippi Ice Pops, Booz, and more.
In this article, let’s explore the complete overview of all the investments made by Vineeta Singh, both in and out of Shark Tank India.
The Story of Shark Vineeta Singh of Sugar Cosmetics
Vineeta is a young entrepreneur born in the year 1984 in Delhi. She is the co-founder and CEO of the renowned brand Sugar Cosmetics.
She went to IIT Madras for her engineering. Later she did her MBA from IIM Ahmedabad.
She has always been super determined towards her entrepreneurial journey. Vineeta was quite keen on building a business with women and for women. After many surveys and ideas, she noticed a dearth of proper shades and colours in cosmetics for Indian skin.
It was then in 2012 that she decided to start her very own company, Sugar Cosmetics. She and her husband, Kaushik Mukherjee, are the co-founders of the company. Starting a brand was not easy, as there are many big competitors like Lakme, Maybelline, and more already present in the market.
Vineeta made Sugar stand out by making it inclusive, affordable, and suitable for Indian skin. The products of the brand and great marketing strategies have now made the brand the number one choice of Indian women.
Vineeta Singh is not only a great businesswoman but also an amazing investor. She is one of the most powerful women in business according to Forbes. She was also awarded the ’40 Under 40′ award by the Economic Times and Fortune India.
Vineeta became popular when she stepped into the spotlight and appeared as a Shark on Shark Tank India, where she invested in many startups. She has been a part of all four seasons of the show as a Shark.
Here is the list of startups funded by Vineeta Singh on Shark Tank India:
JhaJi Store
Startup Name
JhaJi Store
Founder
Kalpana Jha, Uma Jha
Industry
Food and Beverage
Vineeta’s Investment
NA
JhaJi Store – Vineeta Singh Investments
JhaJi Store was founded in the year 2020. It is a startup that deals in the sale of homemade achar (pickles). The achar is made with natural ingredients using traditional recipes from the Mithilanchal region of Bihar. These are also free of any artificial colours or preservatives.
JhaJi Store raised an Angel round worth INR 13 crores in January 2023 from Vineeta Singh and four other investors.
Skippi Ice Pops
Startup Name
Skippi Ice Pops
Founder
Ravi Kabra, Anuja Kabra
Industry
Food and Beverage
Vineeta’s Investment
INR 20 lakhs for 3% equity
Skippi Ice Pops – Vineeta Singh Investments
It is a brand of ice popsicles, launched in the year 2020. The brand’s ice popsicles are made with natural colours, sweeteners, and preservatives. It is available in many different flavours.
The products of the company keep the health of consumers in mind by not adding any artificial ingredients. Vineeta funded the startup with INR 20 lakhs for 3% equity.
CosIQ
Startup Name
CosIQ
Founder
Kanika Talwar, Angad Talwar
Industry
Personal Care Product Manufacturing
Vineeta’s Investment
INR 25 lakhs for 12.5% equity
CosIQ – Vineeta Singh Investments
CosIQ is a skincare brand, founded in the year 2020. The company makes research-driven and tested products that are designed to improve skin texture.
The brand offers a range of products like serums, sunscreen, and more with evident results to the customers. Vineeta funded the company with INR 25 lakhs for 12.5% equity.
Booz
Startup Name
Booz
Founder
Rutvij Dasadia
Industry
Automobile
Vineeta’s Investment
INR 20 lakhs for 25% equity
Booz – Vineeta Singh Investments
It is an electric scooter company founded in the year 2017. These scooters provide the ability to move around commercial campuses and holiday destinations.
The company ensures to offer ease in the rides for various sports and tourism with no pollution. Vineeta made a deal of INR 20 lakhs for 25% equity of the company.
It is a functional drink brand founded in the year 2018. The brand offers no-carb healthy energy drinks which are sugar-free and enriched with vitamins.
The drinks of the brand claim to speed up metabolism, burn body fat, and provide energy. It also helps in enhancing mood, motivation, and cognitive functioning. The company got funding of INR 20 lakhs for 15% equity and 30 lakhs debt from Vineeta Singh.
BluePine Foods
Startup Name
BluePine Foods
Founder
Aditi Bhutia Madan, Naveen Panwar
Industry
Food and Beverage
Vineeta’s Investment
INR 25 lakhs for 5.3% equity
BluePine Foods – Vineeta Singh Investments
It is a creative Himalayan food startup founded in the year 2016. The company offers a wide range of products like frozen momos and frozen spring rolls.
The founder of BluePine Foods, Aditi Madan is famous for the name ‘Momo Mami’. The startup’s products are packed with amazing taste, health, nutrition, and good quality. Vineeta funded the startup with INR 25 lakhs for 5.3% equity.
It is a clothing brand launched in the year 2020. The brand deals in statement detachable sleeves. These sleeves can give a makeover to any dress, whether Western or ethnic.
Many fashion influencers like Komal Pandey, Shaurya Sandhya, and more are seen embracing the brand’s sleeves. Vineeta funded the startup with INR 12.5 lakhs for 15% equity.
Sunfox Technologies
Startup Name
Sunfox Technologies
Founder
Rajat Jain, Arpit Jain
Industry
Healthtech, Medtech
Vineeta’s Investment
INR 20 lakhs for 1.2% equity
Sunfox – Vineeta Singh Investments
It is a med-tech R&D company that builds portable, minimalistic, and affordable devices with the help of computer-aided engineering and artificial intelligence. It was founded in the year 2016.
The company makes diagnostic pocket-friendly ECG devices (Spandan). This enables customers to check for diseases cost-effectively and with convenience. Vineet provided funding of INR 20 lakhs in exchange for 1.2% equity in the company.
The Quirky Naari
Startup Name
The Quirky Naari
Founder
Malvica Saxena
Industry
Fashion
Vineeta’s Investment
INR 17.5 lakhs for 12% equity
The Quirky Naari – Vineeta Singh Investments
It is a fashion and lifestyle startup, launched in the year 2018. The brand offers fashionable and quirky footwear and apparel.
The brand is super popular on social media for its unique and beautiful hand-painted sneakers. Vineeta loved the brand and made a deal for INR 17.5 lakhs for 12% equity.
The brand offers pure A2-certified milk to customers. It was founded in the year 2017. It is a community of people that takes an organic way to farm practices.
It ensures climate-smart regenerative organic farming which is A2 and organic-certified. It makes going organic easy. Vineeta funded the startup with INR 33.3 lakhs for 5% equity.
Wakao Foods
Startup Name
Wakao Foods
Founder
Sairaj Dhond
Industry
Food and Beverage Services
Vineeta’s Investment
INR 25 lakhs for 7% equity
Wakao – Vineeta Singh Investments
It is India’s first brand that makes products from jackfruit. The startup was founded in 2013. Wakao offers plant-based products that are naturally grown. These come in ready-to-eat and cook forms.
The company produces sustainable and healthy foods that ultimately work towards the development of healthy habits among people. Vineeta made a deal with the startup along with other sharks where she invested INR 25 lakhs in exchange for 7% equity.
It is an online platform for all Kabaddi-related news, matches, and reports. Kabaddi Adda was launched in the year 2019. It provides various kinds of information like players’ information, sports news, tournament details, etc.
The startup got funding from Namita Thapar and Vineeta Singh, where Vineeta invested INR 40 lakhs in exchange for 3% equity.
It is a brand that offers savoury bacon jams, thecha, and relishes. The Nomad Food Project started in the year 2017. Their artisanal products are made with premium ingredients that capture the best flavour jar by jar.
The brand is no less than heaven for bacon lovers. Vineeta funded the startup with INR 10 lakhs for 5% equity.
Get-A-Whey
Startup Name
Get-A-Whey
Founder
Jimmy Shah, Pashmi Shah, Jash Shah
Industry
Food and Beverages
Vineeta’s Investment
INR 33.3 lakhs for 3% equity
Get-A-Whey – Vineeta Singh Investments in Shark Tank India
Get-A-Whey is a healthy ice cream brand that started in the year 2018. The ice creams of the brand are enriched with proteins. They do not have any extra calories or sugar. The brand also has a keto-friendly range.
The brand allows customers to have a guilt-free dessert in many flavours. Vineeta Singh invested in the startup on the show Shark Tank India along with Aman Gupta and Ashneer Grover, where her investment was worth INR 33.3 lakhs for 3% equity.
Jain Shikanji Masala – Vineeta Singh Investments in Shark Tank India
Jain Shikanji is a traditional shikanji beverage brand. This age-old brand has been in existence since 1937. The legacy of the Jain family has been working towards providing the best quality to its customers for a very long time.
It is the special spice of Jain Shikanji that makes it different from all others. Vineeta invested INR 10 lakhs for 5% equity in the company.
Conclusion
Vineeta Singh’s entrepreneurial journey has been super inspiring for all young entrepreneurs since the beginning. She has earned a great place for herself and her company, Sugar Cosmetics. More importantly, she has been able to earn the trust of women through her authentic and reasonable products.
This young woman has built a beautiful company and is now helping others to build their dreams by investing in them. She funded many young startups on Shark Tank India and is all set to fund more startups in the show’s latest season.
Vineeta Singh is the founder and CEO of Sugar Cosmetics.
What is the net worth of Vineeta Singh?
Vineeta Singh’s net worth is around INR 300 crores as per Times of India.
Which companies has Vineeta Singh invested in?
Vineeta Singh’s investments include various companies like The Quirky Naari, Get-A-Whey, JhaJi Store, Josh Talks, CosIQ, Heart Up My Sleeves, Jain Shikanji Masala, Booz, Skippi Ice Pops, and more.
What is Vineeta Singh’s company name?
Vineeta Singh is the co-founder and CEO of Sugar Cosmetics, one of India’s leading beauty brands. The company is known for offering a range of high-quality, cruelty-free makeup products designed for diverse Indian skin tones.
What was Vineeta Singh’s first startup?
Vineeta Singh’s first startup was Quetzal, a background verification service. After its closure, she co-founded Fab Bag, a beauty subscription service, and later went on to co-found SUGAR Cosmetics, which became a successful beauty brand.
“Make your customers feel loved and appreciated this Valentine’s Day with special offers, promotions and a heartfelt messages.”
Valentine’s Day is a day of love and affection when the air is filled with the lovely fragrance of roses and the sound of love songs echoing in the background. This is a day when we express our love and gratitude for each other, celebrating old and new relationships.
On the other hand, it’s not just a day for lovers; it’s also a day of opportunity for businesses to promote their products and services. With the world preparing to celebrate this day of love, it’s a chance for businesses to tap into the festive spirit and reach their target audience. So, if you are looking for some unique Valentine’s Day promotion ideas, keep reading!
By an estimate, 250 million roses are produced/sold during Valentine’s worldwide (India exports a large chunk of this).
Multi-billion dollars worth of sales occur in the USA on the occasion of Valentine’s Day (No official revenue figures are available for India, but Valentine’s spending is growing year on year is fairly conspicuous).
An American spends $150 on an average for Valentine’s Day. According to a survey, the average Indian is expected to spend around Rs. 2,000 on gifts for their loved ones on Valentine’s Day. India exports a large chunk of this.
Men spend almost double the dollars that women spend on V-day. (Indian women, though, are more interested in celebrating this day than men in general).
Valentine’s Day Consumer Spending on Flowers
Marketing & Advertising Ideas For Valentine’s Day
From flowers to jewelry to entertainment to loads of gifting options, this festival of romance covers all. Compare it to the festival of Rakhi in India, which boosts sales of sweets, clothing & gifts of all kinds, and you’d get a fair idea of how your business can multiply its sales with a simple but novel advertising marketing strategy.
In this guide, you’ll find seven actionable Valentine’s Day marketing strategies to add to your February marketing list that you can execute easily. Let’s get started!
1. Discounts & Deals on Valentine’s Day
Marketing tricks are as old as businesses themselves, right? But the kind of deal or discount you offer could be brand new. Here are some ideas for discounts and deals for a Valentine’s Day marketing promotion:
Love Bird Special: Offer a discount for couples who purchase items together. For example, buy one, get one 50% off.
Sweetheart Sale: Offer a discount on select items that are popular gifts for Valentine’s Day, such as jewelry, chocolates, and flowers.
Gift with Purchase: Offer a free gift, such as a rose or a small box of chocolates, with any purchase made during the promotion period.
Custom Gift Packaging: Offer custom gift packaging services for an additional fee, making it easier for customers to purchase a gift for their significant other.
Early Bird Special: Offer a discount for customers who purchase items before a certain date, such as a week before Valentine’s Day.
( Pro tip: Customize deals/discounts, keeping in mind the distinct demography of the place of your business. This goes for every campaign you propose).
Almost every small/medium, or big enterprise is either on Social Media already or planning to join. And it’s as easy as ordering food online. Pick your favourite diner (Facebook, Instagram, Twitter, LinkedIn, YouTube), fill your cart (give a few personal & business details), pay (most of the SM accounts are free, till now at least), and you’re done. Unleash your marketing ideas.
Come up with ingenious, creative, funny, exciting, inspiring campaigns on Social Media. Be sure to add a touch of romance/love to them. Social media marketing is the way to go!
Start by posting fun tidbits like – a list of movies with ‘love’ in their title; ask users their favourite couples stories & why, etc. Send greetings/gif coupons to the most liked entries.
Post interesting polls like ‘Minimum number of date nights before you can know if he/she could be your better half?’ Or ‘How many times have you fallen in/out of love?’ Or simply something that goes on to promote your brand like ‘What would you want for a gift from your Valentine’?
Create hashtags to drive brand awareness: To elevate your Valentine’s Day social media presence, consider strategies that engage users with the brand or amongst themselves, or simply use a trending hashtag to start a constructive, useful & healthy debate/discussion. It’d position the brand as a market leader. One compelling approach could be to ask users to share their personal stories of romance, dating, or even heartbreak. So, as you brainstorm Valentine’s Day social media ideas, keep in mind the power of storytelling to deepen engagement and create meaningful interactions.
Start a contest: Post a picture & ask them to caption it. There are plenty of ways you could draw the attention of users – young & not so young. These are the best ways to connect with your audience and make a lasting impression. Don’t forget to reward some of the best ones.
Go bold, spunky & crazy for a selective audience that doesn’t appreciate anything ‘regular’. How? Ask them to reveal their ‘worst fears on a first date’. Make them share their ‘hidden/secretive desires’, confess to their crush/infatuation, why they think Valentine’s Day is a terrible idea, etc. Just be genuine and sensible.
Partnering with local influencers is a great way to promote your business and reach a wider audience during the Valentine’s Day season. Collaborating with influencers who specialize in Valentine’s marketing ideas can help amplify your brand’s message and engage with potential customers in a more targeted manner. Here are some tips for using this strategy effectively:
Choose the right influencer: Choose an influencer who has a strong following in your local area and whose audience aligns with your target market. Research their engagement rates and content to ensure they are a good fit for your brand.
Set clear goals and expectations: Set clear goals and expectations for the partnership, including what you hope to achieve and what the influencer will be responsible for.
Provide them with resources: Provide the influencer with resources, such as product information and promotional materials, that they can use to create high-quality content for their followers.
Offer them a unique discount or deal: Offer the influencer a unique discount or deal that they can share with their followers. This will incentivize them to promote your business and encourage their followers to make a purchase.
Promote their content: Promote the influencer’s content on your own social media platforms and website. This will help increase its reach and give your brand more exposure.
4. Email/SMS/Print Media Campaigns
Try out Email or SMS marketing! Sending out Valentine’s Day-themed newsletters is a great way to promote your business and connect with your customers during the holiday season. Here are some tips for using this strategy effectively:
Personalize the content: Make your newsletter personal and relevant to your customers. Use their name and other relevant details to make it feel like a special message just for them.
Offer special deals or promotions: Use your newsletter to offer special deals or promotions that are exclusive to your subscribers. This will incentivize them to open and read your newsletter.
Use eye-catching visuals: Use visuals that are eye-catching and relevant to the holiday. This can be in the form of images, graphics, or even videos that showcase your products or services in a Valentine’s Day context.
Add a call-to-action: Include a clear call-to-action in your newsletter, such as encouraging subscribers to visit your website, place an order, or share the love with their loved ones.
5. Partner with a Charitable Organization
Here are some ideas for how a business can partner with a charitable organization for a Valentine’s Day promotion:
Heartwarming Donations: For every purchase made during the promotion period, the business can donate a portion of the profits to the chosen charitable organization.
Give Love, Give Back: Customers can add a donation to the charitable organization to their purchase during checkout, and the business will match the donation up to a certain amount.
Sweetheart Sale with a Purpose: Offer a discount on select items, with a portion of the proceeds going to the charitable organization.
Love Notes for a Cause: Encourage customers to write love notes to their significant others and share them on social media using a designated hashtag. For every love note shared, the business can donate a set amount to the charitable organization.
Love and Giving: Offer a special package deal for couples, such as a romantic dinner for two at a restaurant, with a portion of the profits going to a charitable organization.
It is not only a social responsibility but will improve your brand credibility & sometimes even popularity among those who care for their society & nation, which is the majority of us mostly! Valentine’s Day business ideas could also significantly enhance your company’s customer engagement and foster a deeper connection with your audience, tapping into the spirit of love and affection permeating this special occasion.
6. Don’t Single Out The Singles!
The most unwise & unpopular Valentine’s marketing move would be to make singles feel left out and unimportant. Because they are not. This day is not just reserved for romantic couples, but it is also an opportunity for singles to find love. While other companies in your industry might focus on events for couples, differentiate yourself by targeting the single market.
Singles-only parties: Host parties exclusively for singles, complete with music, dancing, games, and other activities to help them connect with each other.
Group activities: Organize group activities such as cooking classes, wine tasting, hiking, or other outdoor adventures to give singles an opportunity to bond and make new connections.
Matchmaking services: Offer personalized matchmaking services to help singles find compatible partners based on their interests, personality, and preferences.
Dating workshops: Conduct workshops to help singles develop dating skills and confidence, such as how to start a conversation, how to make a great first impression, or how to navigate online dating.
Anti-Valentine’s Day events: For those who are not interested in celebrating Valentine’s Day in a romantic way, host events that cater to their needs, such as comedy shows, movie screenings, or just a night out with friends.
7. Promote Self Love
While many businesses focus on romantic love, it’s also important to remind customers to take care of themselves and celebrate their own worth and well-being.
“Love Yourself First” Campaign: Encourage customers to celebrate self-love on Valentine’s Day by offering discounts on self-care products, such as bath bombs, face masks, and candles. Share affirmations and motivational quotes on your social media channels to spread the message of self-love.
DIY Spa Day: Partner with a local spa to offer a DIY spa day package for customers to pamper themselves at home. The package could include items such as a bathrobe, slippers, face masks, and scented candles.
Solo Date Night: Encourage customers to treat themselves to a solo date night by offering discounts on dining and entertainment options. Partner with local restaurants and movie theatres to offer special packages for customers who are celebrating self-love on Valentine’s Day.
Gift Baskets: Create gift baskets filled with self-care essentials, such as aromatherapy oils, journals, and candles, and offer them for sale to customers who want to spoil themselves on Valentine’s Day.
Virtual Workshops: Offer virtual workshops or classes on topics such as mindfulness, meditation, and self-care. These workshops can be held on Valentine’s Day or the days leading up to it and can be promoted through your social media channels and email list.
A Valentine’s Day gift guide is a useful marketing strategy because it simplifies the gift-buying process for customers. By curating a list of thoughtful gift ideas in one place, we make it easy for shoppers to browse options and select the perfect, unique gift for their loved ones. A well-crafted gift guide reduces the stress of picking an ideal present by providing customizable ideas tailored to evoke emotion. It lets customers conveniently shop our offerings based on recipient interest, relationship level, and budget.
Overall, a Valentine’s Day gift guide boosts sales by capturing shoppers who want to buy a meaningful gift but find the process challenging without guidance. It’s an essential marketing tactic for improving customers’ shopping experience and driving revenue during this season of romance.
9. Offer Limited Exclusive Products
Offer Limited Exclusive Products – Valentine’s Day Marketing Ideas
Unveil a captivating new product this Valentine’s Day to boost sales by leveraging the allure of limited edition exclusivity to amplify demand. The notion of scarcity adds a layer of desirability, prompting customers to make impulsive purchases, knowing that the product may not be available later.
You can take inspiration from Hershey’s successful approach with their meltaway rose kisses by transforming your product into a distinctive limited edition that mirrors the essence of a rose to infuse a sense of romance for Valentine’s Day. This strategic modification not only enhances the product’s uniqueness but also capitalizes on the seasonal sentiment, enticing customers to indulge in a one-of-a-kind treat for their loved ones.
By creating a sense of urgency and aligning your product with the sentimental aspects of Valentine’s Day, you can stimulate impulse buying behaviour and drive increased sales during this romantic season.
Valentine’s Day Business Ideas
10. Host a Special Valentine’s Dinner
Host an exclusive Valentine’s Dinner at your restaurant and provide couples with an unforgettable experience to create lasting memories. Distinguish your establishment from competitors by offering unique and memorable events.
When planning a Valentine’s Day dinner, it’s worth considering how you can add some personal touches to make the evening unforgettable. You could decorate the venue to match the theme of the occasion, create a romantic atmosphere with the help of soft lighting and soothing music, and even offer a special menu featuring exclusive dishes designed specifically for the occasion. These details will help make your Valentine’s Day dinner stand out and leave a lasting impression on your guests.
If you can understand your end user, their needs & wants, what inspires or dissuades them and finally make that connect with a balanced yet attractive campaign…..you’re set for a long game. Make your marketing efforts count, show your customers some love, and watch your sales soar this Valentine’s Day!
11. Free or Expedited Shipping
Offer free or expedited shipping by Valentine’s Day to encourage last-minute shoppers. Highlight this perk in banners, emails, and social media to drive urgency. Ensure clear deadlines for guaranteed delivery and consider bundling with limited-time Valentine’s deals.
12. Target-Last Minute Shoppers
Some people always wait until the last minute, and buying gifts is no different. Instead of making them feel guilty, there’s a better way to turn them into customers. If you can promise fast delivery for last-minute shoppers, you’ll be far ahead of your competition.
13. Livestreaming
Livestreaming lets retailers talk to customers in real-time and keep them engaged. They can show products, share behind-the-scenes moments, or answer questions live. For Valentine’s Day, a livestream can highlight special deals, give shopping tips, or feature special guests. This makes the brand feel more personal and helps build a strong connection with customers.
14. Offer Omnichannel Shopping Experience
Offering an omnichannel shopping experience for Valentine’s Day 2024 makes shopping easier and more flexible for customers. By combining online and in-store options, retailers can meet different shopping preferences. Features like online reservations, curbside pickup, and special online deals give customers more choices. This approach helps both tech-savvy online shoppers and those who enjoy in-store shopping, making Valentine’s Day shopping more convenient and enjoyable.
You can promote your business on Valentine’s Day by marketing it by:
Promoting gift cards.
Creating at-home Valentine’s Day care packages.
Create package deals and coupons.
Show your love for a local charity.
Celebrate self-love.
Promote random acts of love.
Is Valentine’s Day a business day?
Valentine’s Day is not a public holiday. Restaurants may be busier than usual as many people go out for an evening with their spouse or partner.
Why is it called Valentine’s Day?
Valentine’s Day is named after Saint Valentine, a Catholic priest who lived in Rome in the 3rd Century.
When to start marketing for Valentine’s Day?
Begin marketing for Valentine’s Day at least a month in advance to build anticipation and capture early interest from your audience. Timing is crucial to maximize engagement and sales during the holiday season.
What are the various Valentine’s Day business ideas?
Offer personalized gift bundles or experiences tailored to couples’ interests and preferences.
Host virtual events like cooking classes or DIY workshops for couples to enjoy together from the comfort of their homes.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
Embarking on the journey of trucking, whether you’re grappling with governance, digitization, or the intricate matchmaking of shippers and truckers, can present a myriad of challenges. The complexities of price discovery and the nuances surrounding insurance, financial services, and overall industry infrastructure can be daunting for newcomers. Enter BlackBuck, a visionary solution founded to serve as the compass in this dynamic landscape. As we explore the industry context, introduce BlackBuck, and set the tone for this article, we uncover how this innovative platform is revolutionizing the trucking sector with its comprehensive and streamlined approach.
BlackBuck, the tech startup, came into existence on April 20, 2015. Zinka Logistics, the parent organization of BlackBuck recently launched its IPO on 13th November 2024.
In this article, let’s explore the world of BlackBuck startup story, its founders, business model, revenue model, IPO, funding, growth, and more.
BlackBuck – Company Highlights
Startup Name
BlackBuck
Headquarters
Bangalore, Karnataka, India
Sector
Transportation, Logistics, Supply Chain and Storage
Founder
Rajesh Yabaji, Chanakya Hridaya and Ramasubramaniam B
BlackBuck is India’s largest trucking system, which is redefining the logistics ecosystem of India. It provides shippers and truckers quick and easy availability, transparent pricing, efficiency, and trustworthiness and thereby, brings in a seamless experience with Data Science at its core. Besides, the company uses technology to match a shipper with a trucker and facilitate price discovery. BlackBuck promises the essentials and believes in building future-ready products for their clients.
The company has simplified trucking since 2015. BlackBuck has boasted of having 15,000+ clients as of December 8, 2023.
BlackBuck – Simplifying trucking business with CEO Rajesh Yabaji
BlackBuck Company Products
BlackBuck aims to build ‘must have’ and ‘future ready’ products to meet the demand of the age. The company offers its products and services with data science at its core. BlackBuck company focuses both on driving consumer changes and working with analytics and machine learning. The BlackBuck company products, which are instantly available, fairly priced, and offer a seamless experience help create infinite value and deliver measurable results for shippers and the operators of the fleet.
BlackBuck company serves both shippers and fleet operators with products and services designed for both.
BlackBuck Products and Services for Shippers:
BlackBuck Products and Services for Shippers
BlackBuck Products and Services for Fleet Operators:
BlackBuck Products and Services for Fleet Operators
BlackBuck – Industry
In 2024, truck sales in India are expected to reach 345.7k units. The market is predicted to grow at an annual rate of 2.59% from 2024 to 2030, with sales projected to reach 403k units by 2030.
According to a report from Mordor Intelligence, projections show a spectacular rise, reaching 484.43 billion USD by 2029, representing a strong compound annual growth rate (CAGR) of 9.04% throughout the predicted period from 2023 to 2029. This notable upturn highlights the freight and logistics sector in India’s dynamic and innovative nature, offering both stakeholders and industry players exciting prospects and challenges.
BlackBuck – Founders And Team
BlackBuck Co-founders Ramasubramaniam B, Rajesh Yabaji, and Chanakya Hridaya (Left to Right)
Rajesh Yabaji, Chanakya Hridaya and Ramasubramaniam Bare the founders of the company BlackBuck.
Rajesh Yabaji
Rajesh Yabaji is the co-founder and CEO of the company. He pursued his education at the Indian Institute of Technology, Kharagpur, from where he got his dual degree. He worked as the Category Development Manager commonly known as the Business Manager in ITC Limited for around 5 years. He was also a 3 months intern from May 2009 to July 2009 at Schindler India Pvt. Ltd. after being a summer intern for two more companies: the University of Nebraska Lincoln, USA, and Rio Tinto Alcan.
Chanakya Hridaya
Chanakya Hridaya is the co-founder of BlackBuck. He also completed his Bachelor’s as well as his Master’s degrees from the Indian Institute of Technology, Kharagpur, in mechanical and manufacturing engineering, respectively. Hridaya served previously as the Assistant Manager of Supply Chain at ITC before co-founding BlackBuck. Before that, Chanakya has been an Intern at ITC and a Visiting Researcher at the University of Strathclyde.
Ramasubramaniam B
Ramasubramaniam B is also one of the founders of BlackBuck. He is the Product Manager at BlackBuck, who has earlier been the Director at Miebach Consulting. Ramasubramaniam pursued his education from IILM.
BlackBuck has an incredible team of smart engineers, business developers, energetic leaders, creative designers, and other aspirational individuals.
BlackBuck – Startup Story
Co-founder Rajesh Yabaji came up with the concept for BlackBuck company while he was employed at ITC. His regular trips to roads and toll plazas to hire trucks for affordable load transportation paralleled the growing patterns of Indian cab aggregators such as Ola and Uber. In the end, this idea gave rise to BlackBuck, which transformed the freight sector by offering a cutting-edge and effective platform for trucking logistics.
Yabaji recounts in a Forbes interview that he decided to establish BlackBuck with an aim to solve “the problem of corporate big boys such as Coca-Cola, HUL, and PepsiCo.”
After founding the company in April 2015 with Chanakya Hridaya and Ramasubramaniam B, BlackBuck logistics company raised its seed capital of $5 Million in April itself. Rajesh Yabaji earlier said in an interview that his company was “unicorn by heart and not yet by number”, before it actually turned a unicorn in July 2021.
He moved forward towards his goal, stating earlier that “until then, they were unorganized.” This was primarily due to the influx of trucks from rural areas. At that time, BlackBuck had 1.2 million+ trucks and around 700,000+ truckers under its wing.
Blackbuck is almost like Ola and Uber for trucks. The founder says that he is investing in a few areas from the very beginning to get supply online, to comprehend the technology, and to transact online which is the biggest problem to solve for them as per news report of July 2021. So, which is why they have created the “BlackBuck App (previously boss)” to simplify things.
BlackBuck – Mission and Vision
“It is our mission to make trucking simple, intuitive and efficient through cutting-edge technology”, said the Founder and CEO of BlackBuck once in an interview.
The vision of BlackBuck is “to reinvent the freight-booking logistics sector, with a focus on uplifting the truck driver in the process.”
BlackBuck – Name, Tagline, and Logo
The company marks the beginning of a new path.
BlackBuck Logo
BlackBuck – Business Model
BlackBuck follows business-to-business (B2B) as well as business-to-consumer (B2C) models. The company charges its customers a fixed rate for their contract business. In their demand model, they charge both their customers and truck owners a commission totally depending on the freight value.
They say that their company has each and everything that takes to win a truck race smoothly. The founders got great help from their bachelor’s degree and they realized that there could be a larger play of trucks in the industry for technology to come in.
BlackBuck generates over 93% of its revenues from contract trucking services. It also provides telematics services of live tracking of all the trucks to the clients, which monitors their shipment all through.
BlackBuck also has a tie-up with the petroleum products marketers and banks for which it acts as an agent. It takes care of the distribution and management of radio frequency identification (RFID) tags and collects a commission for the same. These ancillary services brings in the remaining portion of the operating revenue.
The company earns about 15-20% commission for providing business to the trucks it hires. It has got properly listed truck services listed on its platform, and its job is to match the truck intelligently along with the customers, totally which depends on the customer’s requirements. Logistics is the soul of every invention.
Since BlackBuck logostics company is a pure-play aggregator in the trucking industry, it might be challenging to match trucks with appropriate orders; up to 80% of orders come from its predominately SME customer. The various vehicle types and tonnage capacities make it difficult to maximize coordination between truckers and shippers in order to maximize efficiency.
“The problem faced by product and engineering is that trucking has multiplied variables to it. For example, there are different types of trucks that can carry different tonnage. There is also complexity on the home-base of the trucker which needs to be matched. Also, to minimise the dry run for truckers, we have to match the right type of goods which will not perish within the time taken for transportation,” said BlackBuck founder Chanakya Hridaya.
In addition to complexity, payment dynamics present a significant challenge in the transportation aggregation space. Bigger corporations cause a mismatch with the truckers’ demand for upfront payments for their services because they settle debts only once every thirty to forty-five days.
BlackBuck – Funding And Investors
BlackBuck has raised a total of $364 million in funding over the nine funding rounds that it has seen.
Below are the funding details for BlackBuck:
Date
Transaction Name
Money Raised
Lead Investors
July 22, 2021
Series E
$67 million
IFC Asset Management Company, Tribe Capital, VEF
May 7, 2020
Debt Financing
$4 million
Trifecta Capital Advisors
November 26, 2019
Series D
$7.8 million
Trifecta Capital
May 1, 2019
Series D
$150 million
Accel, Goldman Sachs
October 8, 2018
Series D
$27 million
Sequoia Capital India
October 18, 2017
Debt Financing
$7.69 Million
InnoVen Capital
March 21, 2017
Series C
$70 million
Sands Capital Ventures
December 11, 2015
Series B
$25 million
Accel
June 22, 2015
Series A
$5 million
Accel
BlackBuck – Shareholding
Here is the BlackBuck shareholding pattern as of August 2024:
Shareholder Name
Percentage
Accel India
17%
Quickroutes(Flipkart)
13%
Chanakya Hridaya
11%
Rajesh Kumar Naidu
11%
Ramasubramanian Balasubramaniam
11%
International Finance
8%
Sands Capital
6%
Goldman Sachs
3%
Others
21%
BlackBuck Shareholding (August 2024)
BlackBuck – Growth
Known as India’s largest trucking platform, BlackBuck takes pride in the service they provide. As of FY24, the platform had 963,345 transacting truck operators. The fleet owners in this company were able to reduce idle time by 45% directing towards an increase in earnings between 20% and 30% as per news report of 2019. BlackBuck is currently a unicorn trucking service provider, which raised $67 million to enter the coveted club of unicorn companies in India in July 2021. BlackBuck also boasts of having 700K truckers and 1.2 million trucks on its platform, with over 15 million monthly transactions in 2024.
Blackbuck’s financial performance has seen fluctuations over the last few years, with revenue rebounding in FY24 but overall profitability challenges continuing.
Particulars
FY24
FY23
FY22
FY21
FY20
Revenue
INR 316.5 crore
INR 195.1 crore
INR 869.4 crore
INR 893.2 crore
INR 2,289.4 crore
Expenses
INR 483.4 crore
INR 431.8 crore
INR 1,153.7 crore
INR 1,134.6 crore
INR 2,741.7 crore
Profit/Loss
INR -167 crore
INR -236.8 crore
INR -284.6 crore
INR -241.4 crore
INR -452.4 crore
BlackBuck YoY Topline Growth
Blackbuck Revenue
Revenue increased from INR 195.1 crore in FY23 to INR 316.5 crore in FY24, reflecting a strong 62% growth. However, revenue remains significantly lower than previous highs in FY22 and FY20.
Revenue Breakdown
FY24
FY23
Revenue from product/service sales
INR 296.9 crore
INR 175.7 crore
Other income
INR 19.6 crore
INR 19.4 crore
Total Revenue
INR 316.5 crore
INR 195.1 crore
Blackbuck Profit/Loss:
Blackbuck reduced its loss from INR 236.8 crore in FY23 to INR 167 crore in FY24, showing an improvement in financial stability but still operating at a loss.
Profit/Loss Breakdown
FY24
FY23
Gross Profit
–
–
Operating Profit
–
–
Net Profit/(Loss)
INR -167 crore
INR -236.8 crore
Blackbuck Expenses:
Total expenses increased by 12% from INR 431.8 Cr in FY23 to INR 483.4 Cr in FY24, primarily due to rising employee costs.
Expense Breakdown
FY24
FY23
Employee Benefits
INR 286.9 crore
INR 219.6 crore
Finance Costs
INR 2.8 crore
INR 3.2 crore
Amortization & Depreciation
INR 25.3 crore
INR 20.5 crore
Other Expenses
INR 168.4 crore
INR 188.6 crore
Total Expenses
INR 483.4 crore
INR 431.8 crore
Quick Summary:
Revenue Growth: Increased by 62% in FY24 compared to FY23.
Loss Reduction: Net loss decreased from INR 236.8 Cr in FY23 to INR 167 Cr in FY24.
Rising Expenses: Overall expenses increased due to higher employee costs.
Business Implication: While revenue recovery is promising, Blackbuck still needs to control costs to achieve profitability.
BlackBuck – IPO
The Zinka Logistics (parent company of BlackBuck) IPO opened on November 13, 2024, and will close on November 18. The price of each share is between INR 259 and INR 273 for INR 1114.7 crore IPO. The company is raising INR 550 crore through a fresh issue of shares. As of November 14, the Zinka Logistics IPO had received 1.80 times more applications than the number of shares available, according to NSE data.
Currently, the grey market premium (GMP) for the BlackBuck IPO is zero, as the company’s unlisted shares are not changing in price, according to sources tracking the grey market.
BlackBuck – Advertisements and Social Media Campaigns
Tarakki ka Naya Tareeka
Starring alongside the well-known actor Pankaj Tripathi, Blackbuck debuted its first ad film. The commercial, which promotes Blackbuck’s services and displays Tripathi’s adaptable talent, signifies noteworthy cooperation. Blackbuck hopes to strengthen its brand recognition with this engaging campaign.
The goal of the company is to deploy cash to onboard new trucking partners, expand to new transportation corridors, and invest heavily in product buying and data science capabilities. Company is also paying attention to digital growth solutions.
FAQs
What is BlackBuck company?
BlackBuck is India’s largest trucking service provider, which is currently a unicorn. Founded in 2015 by Rajesh Yabaji, Chanakya Hridaya, and Ramasubramaniam B, BlackBuck aims to make trucking simple for every shipper and trucker.
What does BlackBuck company do?
BlackBuck uses technology to match a shipper with a trucker and facilitates price discovery. It also enables infrastructure around trucking including payments, insurance, financial services.
Who are BlackBuck founders?
Ramasubramaniam B, Rajesh Yabaji, and Chanakya Hridaya are the founders of BlackBuck company.
What is BlackBuck business model?
The company charges its customers a fixed rate for their contract business. In their demand model, they charge both their customers and truck owners a commission totally depending on the freight value. They say that their company has each and everything that takes to win a truck race smoothly.
What is the BlackBuck funding?
BlackBuck funding stands at $364 Million.
What are the main BlackBuck company products?
BlackBuck provides products and services both for the shippers and the fleet operators.
What is BlackBuck net worth?
BlackBuck was last valued at INR 4818 crore in 2024.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
Digital transactions and the usage of mobile wallets are now a reality. Easy, hassle-free payments without having to hunt for change every time you purchase something are some major benefits of using a mobile wallet. While many international players are providing mobile wallet services in India today, MobiKwik is one of the pioneer Indian mobile wallet companies, which despite the raging competition of the sector, has carved a niche for itself.
Founded by the husband-wife duo, couple Bipin Preet Singh and Upasana Taku, MobiKwik has a unicorn valuation and the company’s IPO was successfully launched in December 2024.
This article is all about the journey and functioning of this successful Indian startup – MobiKwik, which was started with the sole goal of making payments easy and fun for every Indian. Know more about MobiKwik and its history, its Latest News, Founders and Team, Startup Story, Business Model, revenue model, IPO,Funding and investors, Revenue, Partnerships, Growth and revenue, Awards, Competition, and more.
To make personal wallets redundant, MobiKwik is one of the largest mobile wallets in India. It allows Indian consumers to store money in a virtual wallet and then to use it across channels (mobile, desktop, tab, SMS, IVR) to pay utility bills and shop all they want.
For example, as a user, you could use it to recharge your mobile via its Android/iOS/BB/Windows App, or use it to buy bus tickets on any popular bus booking website or order and pay for pizza on the phone. It is a prepaid financial instrument approved by the Reserve Bank of India.
MobiKwik was founded by Bipin Preet Singh and Upasana Taku in 2009. The Gurugram-based digital wallet claims to have over 107 million users, 3 million merchants, and 200+ billers on its platform.
MobiKwik company is super-safe. Every penny stored in your wallet is well accounted for. You can also use the extra in-app security settings available on all mobile platforms it is operational on. These are Android, Windows, and iOS. All services of the app are also available via a desktop site and a mobile site. Besides, its simple UI is designed to give users a smooth experience.
MobiKwik ventured out into the offline space and activated mobile payments for brick-and-mortar stores such as Big Bazaar, Domino’s Pizza and many more.It received the coveted Prepaid Payment Instrument license from the Reserve Bank of India on 18 July 2013. The company has also received in-principle approval from the RBI to set up a Bharat Bill Payments Operating Unit (BBPOU), thereby enabling users from across all parts of India, urban and rural, to pay their utility and convenience bills through the MobiKwik wallet.
The initial service provided by the startup was a website with a closed wallet facility, but over the years, MobiKwik extended its service to mobile apps. Today it has transformed itself into a full-stack fintech company. One can do bank transfers, and can also take loans. The company has tie-ups with NBFCs like Bajaj Finance, Aditya Birla, and DMI Finance.
As for loans, it has many options like an instant 3-minute loan, a credit line, and a term loan. It has also tied up with ICICI Lombard for accidental insurance, and also offers several other insurance products like Online fraud protection, dengue insurance, hospital cash, etc., to name a few.
India’s payments market is fragmented with some 60 odd banks for internet banking, multiple levels of authentication on debit and credit cards, and a generally complicated electronic payment experience for the consumer. Mobikwik wallet payment options simplify all that with a 1-click Payment flow on your phone, tablet, or computer which works the same way every time.
As a user, you just need to trust it with your money and then you can shop on any merchant without disclosing your bank or card details. Here, you can be prepared to get exclusive discounts and offers every time you shop using the wallet. One can also earn money through the app by referring a friend on the platform. With the company venturing into new verticals and having acquired a huge user base, MobiKwik is surely here to stay. The company too has exciting plans for the future. One MobiKwik Systems Ltd. is the parent company of MobiKwik.
MobiKwik – Founders and Team
Bipin Preet Singh and Upasana Taku are the founders of MobiKwik. The net worth of MobiKwik’s founders was INR2,260 crore as of Dec 29, 2021.
Bipin Preet Singh and Upasana Taku – Mobikwik Founders
Bipin Preet Singh
The Founder and CEO at MobiKwik, Bipin Preet Singh has worn several hats – from writing Java code to Customer Support and Marketing. He graduated from IIT Delhi in 2002 with a BTech degree in Electrical Engineering. After graduation, he worked at Intel, Nvidia, and Freescale Semiconductors for 7 years before starting up his own company. He has dabbled in advertising as a Partner with Star Auto and in civic advocacy as a volunteer with Janagraaha.
Upasana Taku is known as the co-founder of MobiKwik. Taku is an alumnus of NIT Jalandhar, from where she completed her Btech in Industrial Engineering before pursuing an MS, in Management Science and Engineering from Stanford University. Currently serving as the Co-founder and COO of MobiKwik and the Co-founder of Zaakpay, Upasana started with HSBC, where she worked as a Business Analyst and eventually moved to the position of Senior Product Manager at Paypal. Taku was then a Consultant at Multiple Companies before she managed to materialize her entrepreneurial dreams.
Bipin comes with a strong payment background as a senior product manager with PayPal (an eBay company) in Silicon Valley and before that with HSBC in San Diego. She graduated with a Bachelor’s in Engineering from NIT Jalandhar and a Master’s in Management Science from Stanford University. The company had appointed Bikram Bir Singh as the Business Head of Mobikwik at the end of October 2018. However, Singh left the company in August 2019.
Staying for over 2 years in the batch of key leadership executives of MobiKwik, Chandan Joshi was elevated to the rank of Co-founder of the company in September 2020. Joshi began as an Associate Trader at Credit Suisse. He then founded Packetts, where he also served as the CEO for around a year when he exited the company by selling it to Nuvo Logistics. Joshi continued to stay with Nuvo as the Business Head of logistics for a year after which it was again acquired by Shadowfax. Joshi eventually joined MobiKwik as the Business Head – VP, Online and Offline Merchants and he is currently serving the same company as the Co-founder and CEO, of Payments.
Mobikwik had appointed Daman Soni as the VP for Marketing and User Growth of Digital payments in October 2018. Soni joined Mobikwik in December 2016, and quit the company on June 11, 2018, thereby joining the line of other resignees including Vineet Singh, Rukaiya Rangwala, Vivek Sinha, and others, who had quit Mobikwik.
MobiKwik has a team of 800 plus employees and 156 millionregistered users as of 31 March 2024.
The mission of MobiKwik is “to build a world-class payments and credit product for Bharat!”
The company was started in 2009 with a vision of “transforming the digital payments landscape in India.”
MobiKwik – Name, Tagline and Logo
MobiKwik is a mobile-based digital payments platform that offers users effective digital wallets as a promising alternative to the physical wallets that they carry.
MobiKwik’s new tagline says ‘Discover MobiKwik Wallet – The easiest way to pay!
Mobikwik Logo
MobiKwik – Startup Story
Singh started MobiKwik in 2009 when he was tired of his easy-going corporate job and was looking to do something new in life. He wanted to create a simple payment platform for prepaid mobile users to recharge their currency. Since recharge is a small ticket-size transaction, he created a digital wallet where users could keep the money and recharge whenever they wanted.
He seeded the company with $250 thousand of his own money, developed the website and payment options, and rented office space in Dwarka, Delhi. The initial service was a website with a closed wallet facility, but over the years, MobiKwik extended its service to mobile apps. The company launched its Android app in 2012.
MobiKwik – Business Model and Revenue Model
Much like the business models of any other mobile wallet-based digital payments company, MobiKwik is modeled upon the P2P transactions that take place with the help of its app.
The revenue of Mobikwik comes from the commissions on each transaction that takes place, via partnering with companies and through the advertisements that they consider fit for their app. Furthermore, MobiKwik also gains fee-based incomes by cross-selling insurance and mutual fund products.
The distribution of digital credit products presently accounts for 50% of MobiKwik’s revenue, with the remaining 50% coming from its payment services.
MobiKwik has raised a total of ~ $269 million over 21 rounds in funding. The most recent funding was raised on March 28, 2024, through a Debt Financing round.
The company raised debt funding worth $35 million on August 4, 2022, from Blacksoil Capital to gear up for IPO. This debt fund came in after 12+ months since MobiKwik filed its draft red herring prospectus (DRHP) with SEBI. As per the regulatory filing of MobiKwik, this fund was raised after the company allotted 700 non-convertible debentures (NCD) at an issue price of INR 5,00,000. MobiKwik was last reported to be looking to raise close to $100 million.
MobiKwik was declared a unicorn on October 12, 2021, after the end of the sale of the secondary ESOP round led by Mathew Cyriac, former head of Blackstone India.
Here is a list of all the funding rounds of MobiKwik:
Date
Stage
Amount
Investors
March 28, 2024
Debt Financing
₹500M
BlackSoil
January 16, 2023
Series E
$555K
BlackSoil
August 4, 2022
Debt Funding
$35 Million
Blacksoil Capital
December 30, 2021
Pre-IPO Round
$13.44 Million
Bennett Coleman
June 9, 2021
Series G
$20 Million
Abu Dhabi Investment Authority
April 14, 2021
Venture round
$5 Million
–
December 2020
–
$6.9 million
Hindustan Media Ventures
November 4, 2020
Series E
$5.57 Million
Hindustan Media Ventures
March 23, 2020
Venture Round
$30 Million
–
February 20, 2020
Venture Round
$500K
–
July 23, 2019
Venture Round
$1.17 Million
NDTV Limited & Trifecta Capital
March 1, 2019
Venture Round
$0.32 Million
Cisco Directors Gaurav Manglik & Tianying Fu
January 2019
Venture Round
–
InnoVen Capital
December 2018
Series E
$3.38 Million
Sequoia Capital India, GMO VenturePartners & Net1 UEPS Technologies, Inc.
August 2017
Series D
$35.4 Million
Bajaj Finserv Limited
May 2016
Series C
$50 Million
Sequoia Capital India, GMO VenturePartner, MediaTek, Net1 UEPS Technologies, Inc. & Tree Line Asia
April 2015
Series B
$25 Million
Tree Line Asia, American Express Ventures
March 2014
Series A
$2.5 Million
Sequoia Capital India
September 2010
Seed
$500K
–
MobiKwik – Shareholding
MobiKwik’s shareholding pattern as of March 2024, sourced from Tracxn:
MobiKwik Shareholding
MobiKwik Shareholders
Percentage
Bipin Preet Singh
19.1%
Upasana Taku
13.3%
Chandan Joshi
< 0.1%
Sequoia Capital
16.3%
Tree Line Investment Management
3.8%
ADIA
2.7%
Brand Capital
2.1%
Cisco Investments
2.0%
GMO Venture Partners
1.0%
DMI Sparkle Fund
0.3%
Orios Venture Partners
0.2%
Khattar Holdings
0.2%
Trifecta Capital
0.1%
Duroshox
< 0.1%
Polaris Banyan Holding
< 0.1%
IGE India
< 0.1%
360 One
< 0.1%
Ashika Group
< 0.1%
Spark Fund Managers
–
Burjorjee Family Private Trust
–
Infinity Alternatives
–
THE ARYANA TRUST
–
Pratithi Investment
–
MediaTek
–
BlackSoil
–
Bajaj Finserv
13.1%
NET1
10.2%
American Express
1.7%
Hindustan Times
1.2%
Universal Trustee
0.3%
Vardhman
0.2%
Leposhe Trading Enterprise
0.2%
Leisure Enterprise
< 0.1%
Vijaya Diagnostic Centre
< 0.1%
Vicco Laboratories
< 0.1%
Plant Lipids
< 0.1%
Ankur Healthcare
< 0.1%
ADVIK Hi-Tech
< 0.1%
Polaris Banyan Holding
< 0.1%
Rs Partner
< 0.1%
Bhaijee Portfolio
< 0.1%
Anchor Investment
< 0.1%
RS Partner
< 0.1%
Sundar Ram Enterprise
< 0.1%
J B Chem and Pharma
< 0.1%
AlphaGrep
< 0.1%
Charishma Hotels
–
BML Enterprises
–
Acumen Wealth Advisors
–
Hedge Finance
–
NDTV
–
Angel
1.3%
Other People
0.8%
ESOP Pool
6.3%
Other Investors
2.7%
Total
100.0%
MobiKwik – Growth and Revenue
MobiKwik was eyeing the launching of its IPO by September 2021, as revealed by co-founder Upasana Taku in June 2021. However, the IPO was postponed following Paytm’s dismal IPO.
On June 10, 2019, MobiKwik reported 5 times year-on-year growth to INR 362 crore in the gross transaction value of the IMPS (Immediate Payment Service) fund transfer business. With 6.7 lakh transactions during May 2019, it targeted INR10,000 crore worth of transfers, till the end of FY 2020. However, as per the latest reports, Mobikwik has been successful in clocking INR 362 crore worth of total funds transferred from its wallet to the bank. As per the National Payments Corporation of India, MobiKwik has a 26% share of the entire IMPS transfer market in India.
Mobikwik had narrowed its losses in the previous fiscal, which is why Upasana claimed that her company was cutting the losses each year followed by a doubling of the revenue. It had done this for the last 4 years but FY21 turned out to be an exception.
MobiKwik filed the Draft Red Herring Prospectus for its IPO on July 13, 2021. This had changed the holding of the entity, originally a private limited to a public company, which had changed its name to One Mobikwik Systems Limited.
With this, the company declared that for its IPO the company would be inviting bids worth INR 1900 crores for equity shares. MobiKwik issued its equity shares afresh that aggregate up to INR 1,500 crores, which will be added to the other shares that belong to 7 existing shareholders of the company, amounting to INR 400 crores.
Mobikwik announced that it would be issuing and allotting 156,17,940 equity shares, which will be live for 67 equity shareholders. The co-founders of the company, Bipin Preet Singh and Upasana Taku are deemed to be the largest beneficiaries of this bonus issue. They have been allotted 87,30,930 and 61,80,900 fully paid equity shares respectively.
MobiKwik – Financials
MobiKwik reported a loss of INR 55.2 crore in Q3 FY25, after making a profit of INR 5.27 crore in Q3 FY24. In the previous quarter (Q2 FY25), the loss was INR 3.59 crore.
Revenue from operations grew 17.7% year-on-year, rising from Rs 228.93 crore in Q3 FY24 to INR 269.47 crore in Q3 FY25. However, it dropped 7.3% compared to the previous quarter (Q2 FY25), where revenue was INR 290.64 crore.
The contribution margin also fell, from INR 87.2 crore in Q3 FY24 to INR 73 crore in Q3 FY25.
Over the past few years, MobiKwik has demonstrated significant financial growth, culminating in its first full-year profit in FY24. The company’s revenue has consistently increased, reflecting its expanding market presence and effective business strategies.
Particulars
FY24
FY23
FY22
FY21
FY20
Revenue
INR 890.3 crore
INR 561.1 crore
INR 543.2 crore
INR 302.3 crore
INR 369.9 crore
Expenses
INR 876.2 crore
INR 641.7 crore
INR 665.5 crore
INR 412.5 crore
INR 463.0 crore
Profit/Loss
INR 14.1 crore
INR -83.8 crore
INR -128.2 crore
INR -111.3 crore
INR -99.9 crore
MobiKwik Financials
In FY24, MobiKwik achieved a profit of INR 14.1 crore, a significant turnaround from the loss of INR 83.8 crore in FY23. This positive shift underscores the company’s effective cost management and revenue enhancement strategies.
MobiKwik Revenue Breakdown
Revenue Stream
FY24
FY23
Revenue from Operations
INR 875.0 crore
INR 539.5 crore
Other Income
INR 15.3 crore
INR 21.6 crore
The revenue from operations surged by approximately 62% from INR 539.5 crore in FY23 to INR 875.0 crore in FY24, highlighting the company’s robust business growth.
MobiKwik Expense Breakdown
Expense Type
FY24
FY23
Employee Benefit Expense
INR 116.0 crore
INR 98.2 crore
Finance Costs
INR 18.8 crore
INR 20.4 crore
Amortization & Depreciation
INR 4.3 crore
INR 4.3 crore
Other Expenses
INR 737.1 crore
INR 518.8 crore
Total expenses increased from INR 641.7 crore in FY23 to INR 876.2 crore in FY24. Notably, ‘Other Expenses’ saw a significant rise, indicating increased operational activities.
MobiKwik Profit/Loss Analysis
Profit Metric
FY24
FY23
Gross Profit
INR 14.1 crore
INR -80.6 crore
Operating Profit
INR 14.1 crore
INR -80.6 crore
Net Profit/Loss
INR 4.3 crore
INR -83.8 crore
MobiKwik transitioned from a net loss of INR 83.8 crore in FY23 to a net profit of INR 14.1 crore in FY24, reflecting improved operational efficiency and strategic focus.
Quick Summary
Revenue Growth: The company experienced a 62% increase in revenue from operations, rising from INR 539.5 crore in FY23 to INR 875.0 crore in FY24.
Expense Increase: Total expenses grew by approximately 37%, primarily due to higher operational activities, as evidenced by the rise in ‘Other Expenses’ from INR 518.8 crore in FY23 to INR 737.1 crore in FY24.
Profitability Achievement: MobiKwik achieved a net profit of INR 14.1 crore in FY24, marking its first profitable year and a significant improvement from the net loss of INR 83.8 crore in FY23.
These financial developments indicate MobiKwik’s successful strategies in revenue enhancement and cost management, positioning the company for sustained growth in the competitive fintech industry.
MobiKwik – Products and Features
MobiKwik has launched many products and features. Some of these are:
MobiKwik Products and Features
About
Date
MobiKwik launches feature “Lens”
Lens provide clients features like a wealth summary, intelligent money classification, trends in bank account balances, and prompts for crucial information.
September 12, 2023
MobiKwik wallet UPI feature launch
This innovative feature will allow MobiKwik users to make one-click UPI payments without the need for any UPI PIN.
May 24, 2023
MobiKwik UPI payment with Rupay Credit card Feature
Customers can simply make payments to merchants utilizing MobiKwik RuPay Credit Cards feature by scanning the UPI QR code and using the UPI PIN for payment authentication.
February, 2023
MobiKwik product launch “Xtra”
Xtra is a cutting-edge investing strategy created to satisfy the needs of young investors.
October, 2022
MobiKwik launches ” AutoBill Pay ” feature
This feature will assist MobiKwik users in automating all of their bill payments in accordance with there needs.
May, 2022
MobiKwik launches the “Clickpay later” option
In partnership with NPCI Bharat BillPay Ltd. (NBBL), MobiKwik, one of India’s major mobile wallets and Buy Now Pay Later (BNPL) Fintech businesses, introduced “ClickPay” for its users. Customers of MobiKwik can use this service to pay periodic online bills (including EMIs for loans, insurance, mobile, gas, water, and electricity).
January, 2022
MobiKwik – Challenges and Controversies
Being the biggest data leak in Indian history, independent cybersecurity researchers have found that the personal data of over 10 crore customers of MobiKwik is available for sale on the dark web. However, MobiKwik is denying the alleged data leak and intends to get a third party to conduct a forensic data security audit to provide clarity on the matter.
The MobiKwik leak is real. Here is what the dump had for me. One of those credit cards was valid until a couple weeks ago, and I don’t recall authorising MobiKwik to save it. Companies that lie like 👇 ought to be taken to the cleaners. https://t.co/sptyC1Jz8fpic.twitter.com/c4Uu25OviP
As per the news dated 28th May 2020, the UPI payment and wallet platform MobiKwik was taken down from the Play Store for violating Google’s ad policies. The app was restored a few hours after the contentious ad was removed. MobiKwik owner and CEOBipin Preet Singh said in a tweet that it was done because the app had an ad linking to the Aarogya Setu app.
Mobikwik had the ad as they were asked to by the regulator Reserve Bank of India and also as it’s in public health interest, Singh said.
Singh said that a week ago Google had warned them for promoting the Aarogya Setu app on its platform and termed it as deceptive. However, when they contacted Google, they said it was a mistake.
MobiKwik – Partnership and Tie-ups
The company partnered withUber India in July 2015, which enabled Uber and its drivers to utilize MobiKwik to process debit and credit card payments.
On November 8, 2017, IDFC Bank entered into a strategic partnership with digital payments solution company to launch a co-branded virtual Visa prepaid card for the customers.
In June 2019, MobiKwik announced a partnership with DT One. DT One is a global B2B network for mobile top-ups/recharge, rewards, and airtime credit services. This partnership will enable the startup to offer mobile recharge in 150+ countries across more than 550 mobile operators.
There are many brands associated with MobiKwik. Some of them are:
The company initially partnered with online merchants to make their wallets available as a payment option on e-commerce sites. Slowly, TV recharge and other utility bill payments were added.
MobiKwik partnered with Cashfree Payments in August 2023 and launched the “Zip Pay Later” feature.
MobiKwik partnered with BPCL in October 2022. With this partnership, BPCL launched digital payment for gas refilling of LPG cylinders.
MobiKwik – Acquisitions
MobiKwik has acquired one company to date. This maiden acquisition of MobiKwik was made on October 12, 2018, when the company acquired Clearfunds, a Mumbai-based online discount mutual funds robo advisor.
On the wallet front, it rubs shoulders with Paytm, which has over 60 million wallet users. However, it has a strong focus on the wallet, while Alipay-backed Paytm is following a horizontal approach and has forayed into the B2C marketplace.
MobiKwik – IPO
The Securities and Exchange Board of India (SEBI) has given the payment platform MobiKwik permission to earn INR 700 crore through an initial public offering (IPO) on 24 September 2024. There is no offer-for-sale component to the IPO, which is purely a new issue of equity shares with a face value of INR 2 per share.
The Mobikwik IPO is a book-built issue worth INR 572 crore, consisting entirely of 2.05 crore new shares.
Bidding for the IPO opened on December 11, 2024, and closed on December 13, 2024. The share allotment was finalized on December 16, 2024, and the shares were listed on BSE and NSE on December 18, 2024.
The price band for the IPO was set at INR 265 to INR 279 per share.
Retail investors had to apply for at least 53 shares, requiring a minimum investment of INR 14,787.
Small Non-Institutional Investors (sNII) needed to apply for 14 lots (742 shares), with a minimum investment of INR 2,07,018.
Big Non-Institutional Investors (bNII) had to apply for 68 lots (3,604 shares), needing INR 10,05,516 to invest.
Using INR 250 crore, MobiKwik intends to build its financial services division, accelerate growth in its payment services with INR 135 crore investment, and devote another INR 135 crore to data, machine learning, and artificial intelligence breakthroughs.
Mobikwik had earlier planned to go for IPO (Initial Public Offering) by September 2021. It was also reportedly planning to raise $200Mn-$250Mn at a valuation of $1Bn in this initial offer. The company had already managed to get approval for the same from SEBI. The upcoming IPO of MobiKwik will certainly be interesting. Though the company is still not declared a market leader or hailed as a giant unicorn, like Zomato or Paytm, the draft documents of the business mention that the rapid growth of the digital payments and payment platforms, online shopping, and internet usage, marks it as a deserving IPO nominee.
The company had already listed its draft documents back on July 12, 2021, and has mentioned that it would be raising around INR 1,900 crores in its upcoming public offering. Furthermore, it has announced that the offer will comprise of fresh issue of equity shares up to INR 1,500 crores in addition to an offer for sale for certain existing shareholders up to INR 400 crores. The offer of sale (OFS) of the company will further include the sale of shares valued at nearly INR 9.9 crores by American Express, shares worth INR 68.9 crores from Bajaj Finance, INR 11 crores from Cisco Systems, INR 94 crores by Sequoia, INR 24 crores by Treeline Asia, INR 111 crores from Bipin Preet Singh and around INR 78 crores from Upasana Taku, the founders of the company. The fintech unicorn has seen a dip in its unlisted share prices throughout the past couple of weeks, as of December 2, 2021.
The company raised its pre-IPO round on December 30, 2021, from Bennett Coleman and said that it will be going public in 2022. The company expects to double its revenue by the end of this fiscal, indicating a 100% growth for the company. Furthermore, while referring to the upcoming IPO round of Mobikwik, the Co-founder and COO of the company, Upasana Taku mentioned that they will not be looking for an IPO soon and instead wait for the market to stabilize, as stated on January 23, 2022.
Upasana Taku, the chairperson of MobiKwik, stated that they intend to file for an IPO in 12 to 18 months. In November 2022, the IPO became inactive. They have been permitted to raise INR 1900 crore, which would be split between a new issue of INR 1,500 crore and an offer for sale (OFS) of INR 400 crore.
For the IPO, MobiKwik is collaborating with SBI Capital Markets Ltd. and DAM Capital Advisors Ltd., as per the news report of November 29, 2023. The financial unicorn hopes to list next year and raise $84 million (about INR 700 crore) through the IPO.
MobiKwik won Excellence in Consumer Lending Award in 2022.
The company won the ET Iconic Brand of the Year Award in 2018
MobiKwik also won the Amity Leadership Award in 2018.
MobiKwik was also the recipient of the ‘AWS Mobility Award’ for the best mobile app in Financial Services
Moneytech’17 Awards declared Upasana Taku as the winner of The Female Entrepreneur of the Year.
Bipin and Upasana, the founder duo of MobiKwik was also listed in the Fortune 40 under 40 Awards 2016
In 2014, MobiKwik won the Billionth Award South Asia in the category of Mobile Business, for socially valuable contributions to South Asia’s digital infrastructure
FAQs
What is MobiKwik?
MobiKwik is one of the largest mobile wallets in India. It allows Indian consumers to store money in a virtual wallet and then to use it across channels (mobile, desktop, tab, SMS, IVR) to pay utility bills and shop using a wallet with registered merchants.
What does MobiKwik do?
MobiKwik is a digital payment and financial services company that offers mobile wallets, UPI payments, loans, and Buy Now Pay Later (BNPL) services.
What is MobiKwik launch date?
MobiKwik was launched in 2009.
MobiKwik is from which country?
MobiKwik is an Indian company founded in 2009 that provides a mobile phone-based payment system and digital wallet.
Who owns MobiKwik?
Bipin Preet Singh and Upasana Taku are MobiKwik founders. They founded the company in 2009. Bipin Preet Singh is the Mobikwik CEO.
What is the MobiKwik official website?
MobiKwik official website is mobikwik.com
Who are the competitors of MobiKwik?
MobiKwik’s competitors are Paytm, Freecharge, Google Pay (earlier Tez), and PhonePe.
Who is MobiKwik marketing head?
Monika Mishra is known as the Mobikwik Marketing Head, who works as the Senior marketing head of the company.
What is the Mobikwik headquarters location?
Mobikwik headquarters’ location is Gurugram, Haryana.
What is MobiKwik business model?
MobiKwik is a fintech company that offers digital payments, BNPL (Buy Now, Pay Later), and financial services like loans, insurance, and wealth management. It earns revenue from transaction fees, interest on BNPL, and commissions from financial products.
What is MobiKwik net worth?
As of December 2024, MobiKwik’s valuation, based on the IPO price band, stands at $197 million.
How to change MobiKwik mobile number?
If you want to change the MobiKwik mobile number, then you need not worry because following the below-mentioned steps will help you do it without many hassles:
First, you need to open your MobiKwik wallet and log into your account.
Next, you need to swipe left, and then open Menu/Options bar. Here, you will be able to see the “My Saved Connections” option. You need to tap and open the same section.
Under the Saved Connections sections, you will be able to see your Primary Number. You need to simply tap on the same to change it.
Then, you need to go to the three dots that you can find on the top screen in the right. Here, you can find the option that says “Edit Primary Number”. After you get the same, just tap on it.
Now, you need to enter your new mobile number, along with your operator details, circle, and finally type the 10-digit phone number and tap on it to save it.
Finally, you will get an OTP on the new mobile number that you have typed in.
You need to simply enter the OTP, and tap on Verify OTP.
After you have successfully changed your mobile number, you will get a confirmation on your old number.
What is MobiKwik owner net worth?
The net worth of MobiKwik’s founders was INR2,260 crore as of Dec 29, 2021.
How to close MobiKwik account?
To close MobiKwik account, you need to just perform some easy steps. Here are the steps that you need to perform if you are wondering how you can close MobiKwik account:
First, you need to fill a support ticket.
Then, you have to raise a request to remove the MobiKwik account. Here, you need to write a simple message clearly to establish the reason why you want to delete your MobiKwik account.
After filling up the reason, you need to click on the Submit tab.
Finally, you have to wait for the confirmation of the deletion of your MobiKwik account.
Which is MobiKwik parent company?
One MobiKwik Systems Ltd is the parent company of MobiKwik.
Nearly five years after the fast-fashion giant’s app was blocked in India due to rising diplomatic tensions between India and its neighbour, China, Isha and Mukesh Ambani’s Reliance Retail has successfully reintroduced Shein in India. Shein has returned to one of Asia’s biggest retail markets with the recently released Shein India Fast Fashion app, which was created under a license agreement with Reliance.
Reliance’s control over operations and data, with all consumer information retained in India, is one of the strict requirements attached to this agreement. The action also represents a change of strategy for Reliance, which aims to expand its online presence by providing Shein’s well-liked, reasonably priced clothing on a completely localised platform.
Nearly five years after its app was banned in India due to diplomatic concerns between China and India, Reliance Retail has formally restored its presence in the country by launching a new app to sell fashionwear from China’s Shein. According to sources, the app, Shein India Fast Fashion, was secretly released on Saturday morning; however, Reliance has not yet released an official statement.
Why Shien is Riding on Reliance’s Back?
Founded in 2012 in China and currently based in Singapore, Shein gained popularity for selling stylish yet reasonably priced Western clothing. It suffered a blow in 2020, though, when India blocked Shein and other Chinese apps like TikTok due to national security concerns in the midst of escalating border issues between the two nations. As a result, customers could no longer access the site, which had been very popular in India.
Shein is currently reviving in India despite the setback thanks to a license agreement with billionaire Mukesh Ambani‘s Reliance Retail. Reliance will pay a licensing fee to use the Shein brand name as part of this partnership, but no equity investment will be made.
The transaction marks a substantial departure from Reliance’s typical approach, even if the company has not yet made the financial details public. With the new agreement, Shein will have a dedicated platform for Indian consumers instead of just adding foreign brands to its existing Ajio fashion app, where it presently sells brands like Superdry and Gap.
Shein’s return is significant since the business will be operating under strict guidelines. Shein will only serve as a technological partner, while Reliance will maintain exclusive control over the platform and its operations. The fact that all client data would be kept locally in India and that Shein will not have access to it is a key requirement of this relationship.
This action supports the Indian government’s initiatives to preserve sensitive consumer data and uphold data sovereignty. To guarantee adherence to India’s stringent data standards, Shein will also need to submit to routine security audits conducted by cybersecurity companies that have been approved by the government.
What New Shein India App Will Offer
Dresses for as little as 199 rupees (about $2.30) are among the many affordable fashion items available on the new Shein India app. Customers will first be able to use the app in a few cities, including Bengaluru, Mumbai, and New Delhi, with hopes to quickly expand to more areas. One of the app’s noteworthy characteristics is that, in keeping with India’s efforts to strengthen its domestic textile sector, all Shein-branded products offered through the platform would be created and produced locally by Indian producers.
Why It’s a Win-Win Deal for Both Reliance and Shein?
Reliance’s decision to relaunch Shein in India is a component of a larger plan to bolster its online presence and subvert the dominance of competitors like Flipkart, Amazon, and Meesho, particularly in the fiercely competitive fashion e-commerce market. Even though it has the biggest retail chain in the nation, Reliance has had difficulty breaking through in the online retail space. With the recent introduction of quick delivery options like same-day delivery under 30 minutes for some orders on its Myntra platform, Flipkart in particular has been a formidable rival in the fashion e-commerce market.
As it gets ready for a possible public listing, this partnership offers Shein a calculated chance to re-enter one of Asia’s biggest and fastest-growing retail sectors. Following its unsuccessful bid to list in the United States due to lawmakers’ concerns about China’s rules that companies seek government approval before listing overseas, the platform has been preparing to go public in London later this year.
Over 300 platforms have been impacted by India’s continuous prohibition on Chinese applications since 2020; this cooperation is a rare exception. Several Indian government agencies, including IT and Home Affairs, conducted a thorough screening procedure before approving Shein’s return, paying particular emphasis to making sure Shein complied with the country’s strict cybersecurity and data protection regulations. The alliance intends to support the expansion of India’s textile manufacturing industry while protecting data privacy and national security objectives, according to Commerce Minister Piyush Goyal.
All things considered, Shein’s return to India under the Reliance collaboration marks a dramatic change in the fast-fashion sector in India and not only a win for Shein but also for the changing nature of global trade in the area. Shein’s affordable products, along with Reliance’s wide distribution and domestic production, have the potential to upend the competitive environment as the company continues to establish itself in the Indian retail sector, especially in the online fashion retail space.
On February 4, the leading SaaS company Zoho Corporation announced the launch of Zia Agents, Agent Studio, and Agent Marketplace, further expanding its own AI platform, Zia. Businesses will be able to access, create, and implement intelligent, self-governing digital agents throughout their organisations thanks to these new capabilities.
Pre-built, task-specific Zia Agents will be made available for preview by Zoho and its IT management business, ManageEngine, starting today. In the upcoming weeks, the firm plans to roll them out across its range of more than 100 products, according to a release.
“The pace of disruption and quality of innovation we are seeing in our industry right now has encouraged me to focus on my passion area, technology,” said Sridhar Vembu, co-founder and chief scientist of Zoho Corporation. “I will lead a number of extensive R&D projects for the company, starting with AI, and dedicate more time to practical technical work.”
He continued by saying that the brand would create strong and practical solutions that increase customer value while upholding our dedication to customer flexibility and data privacy by leveraging Zoho’s extensive engineering experience, its own data centres, and its shared data model.
Zoho Spreading its Wings
The company’s core AI, Zia, was introduced in 2015, and it allows for contextual and intelligent activities throughout its app ecosystem. Ask Zia, a system-wide conversational assistant that improved workflows by summarising interactions, evaluating trends, and automating activities, was introduced by Zoho in 2018.
Zoho is now extending its AI capabilities with Zia Agents, showcasing a number of pre-built autonomous agents that will be rolled out in the upcoming months, including an Account Manager Agent, SDR Agent, HR Agent, Customer Support Agent, IT Help Desk Agent, and SalesCoach Agent.
Zia Agent Studio
Additionally, Zoho will launch Zia Agent Studio, a platform that enables clients, partners, and developers to create and implement unique AI agents with inherited skill sets. These agents may then be made available through Zoho’s Agent Marketplace for broader use.
Zia Agent Studio, which is intended for low-code and no-code development, gives customers access to pre-built Zia Skills, Zoho’s ecosystem tools, unified data, and many language models in addition to enabling them to construct autonomous agents that are pertinent to their needs.
Organisations may access, deploy, and reuse specialised AI agents by publishing agents created using Zia Agent Studio on the Agent Marketplace. While partners and developers can contribute bespoke agents tailored to certain company needs, Zoho will provide a pre-built roster of agents.
This announcement coincides with Zoho’s record-breaking expansion, which saw the company gain 110,000 new clients worldwide in 2024, reaching 850,000+ enterprises across all industries. A small number of clients will be the first to get access to the new AI features, with availability growing every month.
Prior to its initial public offering (IPO), last-mile delivery firm ShadowFax has appointed Bijou Kurien, Ruchira Shukla, and Pirojshaw Sarkari as independent directors to its board. The company statement claims that the new additions would improve its governance framework and solidify its place in the changing direct-to-business (D2C) and e-commerce markets.
According to Abhishek Bansal, cofounder and CEO of Shadowfax, the new hires will contribute extensive industry knowledge and strategic perspectives that complement our goal of revolutionising third-party logistics (3PL) in India. As we continue to dominate the logistics industry, their advice will be crucial. The recently hired independent directors at Shadowfax have a variety of backgrounds in addition to specific knowledge in the logistics industry.
Kurien has worked in the retail, consumer durables, and fast-moving consumer goods industries for over 35 years. He was also a founder member of Reliance Retail and Titan Industries. He works as a professional advisor for startups and private equity funds at the moment. At the moment, Shukla serves as managing partner and cofounder of the STEM-focused venture capital firm Synapses.
She has over twenty years of expertise in investment banking, strategic consulting, private equity, and venture capital in India, the US, and Europe. Her areas of expertise include edtech, health tech, consumer internet, B2B e-commerce, and climate tech. Sarkari, who was previously the MD and CEO of Gato Allcargo, contributes his experience in the logistics industry. He currently works with Inflection Point Ventures as an angel investor. He was the CEO of Mahindra Logistics as well.
Business Operations of Shadowfax
Bansal and Vaibhav Khandelwal founded Shadowfax in 2015, and it offers last-mile delivery services to D2C brands and e-commerce platforms. In addition, it provides value-added services to its customers, such as package exchange, reverse logistics, and expedited delivery choices.
Among its customers are Mamaearth, Nykaa, Flipkart, Meesho, and others. The move follows the Flipkart-backed startup’s announcement last year that it would seek INR 2,500–3,000 Cr through an initial public offering (IPO). Through its public listing, the business is considering a valuation of INR 5,000 to 8,000 Cr.
Recent Developments at Shadowfax
The IPO-bound business collected INR 34.24 Cr on February 3 from its current investors, Nokia Growth Partners and Mirae Asset. The business has raised $213 million since its founding and is supported by investors such as Eight Road Ventures, International Finance Corporation, Qualcomm Ventures, and others.
In order to further broaden its capabilities by implementing extensive and bespoke delivery services throughout the nation, the Bengaluru-based startup last week purchased the transportation and logistics company CriticaLog India Private Limited. In the fiscal year that concluded on March 31, 2024 (FY24), the company reduced its net losses from INR 142.6 Cr in FY23 to INR 11.8 Cr, a nearly 92% decrease. During the year under review, operating revenue increased 33.19% to INR 1,884.8 Cr from INR 1,415.1 Cr the year before.
Rishabh Rathi
