The Central Goods and Services Tax (CGST) Department has penalised the fintech business Paytm and its CEO, Vijay Shekhar Sharma, for allegedly failing to issue tax bills to its clients in a compliant manner. Sharma was penalised INR 59.94 lakh for the penalty, while One97 Communications, the company that runs the Paytm brand, was fined INR 1.19 crore.
The Noida-based business stated that it was considering all of its options, including appealing the Joint Commissioner, CGST Delhi North’s ruling. According to Paytm’s official statement, the business is considering all of its options, including appealing the order, and feels that the penalty demand cannot be maintained based on its evaluation and professional counsel.
Earlier, RBI Also Imposed Penalty on Paytm
The company’s affiliated entity, Paytm Payments Bank, was fined INR 5.39 crore by the Reserve Bank of India (RBI) in October 2023 for a number of violations, including Know Your Customer (KYC) regulations.
In the third quarter of the fiscal year 2025 (Q3FY25), the company’s losses decreased from INR 219.8 crore in Q3FY24 to INR 208.3 crore. The loss comes after the company recorded a profit of INR 928.3 crore for the September quarter, which was primarily driven by the sale of its movie and ticketing business to Zomato.
Sharma Positive for Business Operations in 2025
Regarding the company’s financial future, Sharma told a media outlet that the company is determined to turn a profit the following quarter—EBITDA before ESOP. He continued by saying that the company’s substantial cash reserves and cost-effective cost structure are key factors in the company’s impending profitability.
Sharma voiced hope about regaining lost ground regarding Paytm‘s market share in the UPI ecosystem, which has significantly decreased to 5.5%. “We weren’t allowed to onboard at all,” he explained, attributing the fall to regulatory obstacles rather than problems with trust. The regulatory understanding caused us to halt our operations. After that, I’m thrilled that we’re gaining millions of new clients without spending any money on marketing.”
Sharma outlined a well-defined recovery plan that prioritised product innovation and increased UPI ecosystem engagement. “It’s a product gap, deeper integration into the UPI ecosystem, and more merchant acquisition, which creates a flywheel that will bring our consumer back,” he stated. Sharma pointed out that Paytm has a competitive advantage thanks to its robust product features and well-known brand.
Paytm Looking to Expand Its Market Share
Regarding market share, Sharma said that it must increase rationally and that there is a network impact at the same time. “The major thing is still bigger, and there is a small amount; we could attract more clients if we could add additional features and services. Retaining customers is more about the qualities of the product and how it fits into their life. I can assure you that the best part is that our brand remembers the features and the service; if we can restore them, market share will return,” he added.
FreshToHome, a D2C meat firm, has joined the fast commerce trend by offering a delivery service in a few Indian locations that takes 10 to 20 minutes. Although FreshToHome typically delivers orders in 60 minutes, the speed of delivery will rely on how close the customer is to the closest dark store. Shan Kadavil, the founder of FreshToHome, told a media channel that the company started providing speedy delivery around two months ago.
Operations and Financial Outlook of FreshToHome
The direct-to-consumer fish and meat company was established in 2015 by serial entrepreneurs Kadavil and Mathew Joseph, and it is presently present in 27 cities in the United Arab Emirates and 160 cities in India. Additionally, it sells its goods through rapid commerce marketplaces like Swiggy Instamart and Blinkit, which are owned by Zomato, as well as e-commerce sites like Amazon and Flipkart.
In certain places throughout the nation, the startup charges a platform fee of INR 4 for every order in addition to the money it makes from product sales. To date, FreshToHome has raised around $377 million in investment. In its most recent round of fundraising, which was headed by Amazon Sambhav Venture Fund and included participation from E20 Investment, Mount Judi Ventures, and other current investors like Investcorp, it raised $104 million.
The D2C brand’s standalone net loss for its India operations decreased from INR 313.17 Cr in the previous fiscal year to INR 149.73 Cr in the financial year 2023-24 (FY24), a 52.18% decrease. Revenue increased from INR 24.91 Cr in FY23 to INR 369.55 Cr in the fiscal year under review, a 15X increase. FreshToHome faces competition from companies such as Zappfresh and Licious in the Indian direct-to-consumer meat sector, which is expected to reach a value of $119.36 million by 2030.
India’s Quick Commerce Sector has Become New Battle-Ground
Several firms in the nation are adopting the rapid commerce model at the same time as FreshToHome’s entry into the 10–20 minute delivery market. Giants like Flipkart Minutes, Nykaa, and Myntra have entered the market in addition to established players like Zepto, Swiggy Instamart, and Blinkit.
Amazon declared Tez and Myntra introduced “M-Now,” while Flipkart ventured into fast commerce with “Minutes.” Now, every major company is concentrating on the quickly expanding fast commerce business, due to the demand and broad adoption in tier-2 and tier-3 cities as well as metro areas.
According to the Tracxn study, the rapid commerce industry had a notable increase in funding in 2024, raising $1.37 billion in equity capital from seven rounds, primarily owing to Zepto, which raised $1.355 billion in three $300 million rounds. Redseer, a consultancy firm, projects a 40–45% GMV CAGR for q-commerce over the next three years. All players have now increased their services beyond only grocery and food to include toys, Dhanteras gold, cosmetics, fashion, and electronics, among other things.
On February 4, Union Minister Ashwini Vaishnaw stated that a local foundational AI platform is anticipated in ten months, and that India may be able to develop its own high-end processing hardware, known as GPUs, in the next three to five years.
Vaishnaw stated that the government will provide 18,000 top-tier GPU-based computing facilities for AI development to entities in the nation within the next few days and anticipates India’s own AI platform within ten months during a Budget Roundtable 2025 hosted by two renowned media houses.
According to Vaishnav, the Ministry is considering three different solutions, each of which would include building the country’s own GPU using a chipset that is reasonably priced and either open source or licensed. The entire world has adopted this strategy, which will enable each nation to have its own GPU within three to five years.
Surge in GPU’s Demand
In the past, multimedia content processing involving several computational operations, such as gaming and video processing, was handled by GPUs (graphics processing units). However, the global demand for AI has caused a sharp increase in the demand for GPUs, and the US chip manufacturer Nvidia controls more than 80% of the industry. According to the minister, Indian Railways increased the confirmed ticket rate by 27% by leveraging AI models, and a number of start-ups have grown really effectively, albeit in comparison to ChatGPT.
According to him, developing artificial intelligence models requires high-end computing equipment, which can only be purchased by wealthy individuals. However, the government has put in place a system that allows everyone to access computing infrastructure at a reasonable cost. Vaishnaw added that researchers, academicians, companies, institutions, and IITs may all access this computing capability and use it to launch foundational models.
When asked whether India would have its own foundational model for AI, Vaishnaw responded, “10 months is the outer limit.” According to him, there are numerous research papers that essentially discuss mathematical techniques that, for instance, the Chinese artificial intelligence company DeepSeek has employed to make the entire process extremely effective.
Make In India Churning Jobs for Indians
According to Vaishnaw, 12 lakh direct and indirect jobs have been created by the government’s mobile manufacturing division under the Make in India initiative. In order to demonstrate the degree of quality and accuracy attained by Indian electronic industries, he displayed a metallic object that was made up of numerous precisely linked pieces, without any apparent lines.
He claimed that it took three years for a well-known Indian business to reach the high degree of accuracy needed by a vendor to supply parts for the production of Apple and Samsung’s high-end smartphones.
India now produces a number of goods and parts needed in the mobile phone sector, such as chargers, battery packs, various mechanics, USB cables, keypads, display assemblies, camera modules, lithium-ion batteries, speakers and microphones, vibrator motors, and more, according to the minister.
The latest edition of the Indian Premier League (IPL) is here now in 2025, and naturally, we are in the midst of the cricket frenzy with players set in action, the religious fans of the game all thrilled and waiting for their favorite matches, and the franchise owners and other businessmen anticipating great returns out of it. The Twenty20 Cricket League allows the best cricket players around the world and gives them a chance to showcase their talent. The key business plan of the IPL is to invite private companies to buy cricket franchises.
The franchises are sold at huge prices, so the corporates are largely attracted to invest in various other major components of IPL. Regarding the Indian Premier League auctions, teams spend crores of rupees just to get the desired players. With the kind of money involved in the league, it is hard to ignore the financial aspects of the game. In terms of the valuation, the IPL business value was calculated to be $16.4 billion as of 2024 and the stand-alone IPL brand value stands at $3.4 billion as of 2024.
According to BCCI, the 2023 IPL season contributed $11.2 billion to the GDP of the Indian Economy. The viewership of IPL 2024 reached the 620 million viewer mark and was watched by more than 350 billion minutes, which is much higher than the total watch time of IPL 2020. Therefore, IPL is as much about business as it is about cricket, glitz, and showbiz. Here are the right prominent ways to answer how IPL franchise earn money.
The official media sponsor of the IPL for the last decade was Sony India, and then Dream 11. The current title sponsor of IPL is TATA Group. Disney+Hotstar is declared as the official broadcaster of IPL 2022, which has further onboarded new sponsors, Zomato, Pristyn Care, Ather Energy, Parle Agro, Livspace, Niyo, Spotify, L’Oreal, Spinny, ahead of the cricketing extravaganza.
IPL is known for its revenue distribution model. The BCCI gets a substantial amount from broadcasters and online streamers. Based on IPL franchises to earn money, and IPL team ranking, this amount is distributed among all IPL teams after deducting their fees.
Media rights are another way how franchises earn money in IPL. They are the IPL brand’s biggest financial contributors. Star India reportedly broke the bank in 2023 to buy IPL broadcasting rights for a massive INR 23,575 crores. Each match of the IPL reportedly helps BCCI make INR 60.18 crores, while the latest bid in the BCCI media rights auction stands at INR 23,758 crores, which amounts to INR 59.10 crores per match.
The broadcasters can afford such exorbitant prices because of the advertising and viewership revenues. At the end of the league, the higher-ranking team gets the larger share of media revenue. Media rights account for 60 to 70% of the total earnings of the IPL team, through which IPL team members earn money. Besides that, the IPL franchises also make money by broadcasting special shows such as KKR’s Knight Club.
The revenue generated from the sale of tickets for matches forms another major source of income for the owners of IPL teams. Each franchise is entitled to a minimum of 7 home matches, which gives them a fair opportunity to generate money. The ticket revenue share in the IPL team revenue is around 10%. The home team gets a fixed share of the total ticket sales, and all IPL team owners earn money by selling tickets.
The franchises then have complete rights to the income from gate tickets and passes. Like any other major sports event, the IPL teams depend largely on their fans for revenue. It is one of the most watched leagues worldwide, with full houses on most occasions. This is one of the few mediums of income where fans and franchises are directly involved in the financial transaction and through which IPL team earn money.
The revenue received from sales of official IPL merchandise also forms a significant part of income for IPL teams. The IPL merchandise includes official jersey replicas, sports souvenirs, and sports equipment, among other things. Merchandising is a huge opportunity for IPL and the franchisees to monetize their brand, and IPL has started replicating the global sporting events.
This trend is expected to change, with more IPL franchises now moving towards elevated merchandise promotion. The game merchandise market in India is growing at an annual rate of 100 percent. This market is about 30 million dollars. Every franchisee sells its merchandise; this includes T-shirts, caps, bats, wristwatches, and other items. Therefore, merchandising is a significant source for IPL franchise to earn money.
The IPL franchises can make big gains by selling stakes at the right time. For example, Delhi Capitals, formerly the Delhi Daredevils case. Jindal Steel Works brought a 50% stake in the IPL franchise for a hefty price of INR 550 crore from GMR. The group has expressed its desire to increase its share in the franchise from 50 to 100%.
So, within a decade, GMR almost doubled its investment in the franchise. Recently, there were intense rumors that the owners of Rajasthan Royals wanted to go by the same route and sell 50% of their stakes in the franchise. Although such big deals don’t happen deals every day, selling stakes is surely one of the major routes to making money for IPL franchises. This is one of the prominent ways through which the IPL team owner make money.
5. Sponsorship
IPL Sponsorships – How IPL Franchises Make Money
Everything within the stadium has a price tag, from players batting to the bails on the stamps. The sponsors are the real source of income in the Indian Premium League. All the teams of IPL have sponsors for everything: the main sponsor, a jersey sponsor, and even a sleeve sponsor, which hugely contributes to the overall income. The teams tie up with organizations to promote brands in return for an exorbitant amount.
The promotion is done in two forms: through print media and through advertorials. The player’s jerseys are a valuable marketing tool. This is why an IPL outfit has an average of 10 brand logos: 6 on the jerseys, 2 on the pants, and another couple on the cap. Moreover, the franchises also create ad content to promote the brands’ products.
While the brands that cannot make on the jerseys are still promoted through the teams’ social media handles and package design, for example, CSK has tied up with at least 18 brands, with Etihad Airways being the title sponsor.
Prize money is obviously one of the franchise’s main income sources. The tournament’s winning team gets the largest share of the prize money, which goes to the team owners and the players. In 2023, the winners got INR 20 crores, the runner-up got INR 13 crores, the third place in the playoffs was INR 7 crores, while the fourth place in the playoffs got INR 6.5 crores.
7. Brand Value
Most Valuable IPL Teams in 2023
Brand value adds a lot to the team. If you have star players like Virat Kohli and MS Dhoni or even Rohit Sharma in your team, you have a better chance of attracting brands and investors. Winning IPL or even making it to the Playoffs helps IPL franchises to boost their brand values. This, in turn, helps in easily getting brands on board – at prices that the owners demand. Note that MI, CSK, and KKR, all of whom have won IPL more than once, are at the top of the brand value.
So, the clout that teams like CSK and MI enjoy during negotiations with brands may not necessarily be experienced by DC and KXIP. However, it is important to know that Brand Value is not only affected by a team’s past performances. Bollywood stars like Shah Rukh Khan and Preity Zinta also add a lot to that aspect, along with business leaders like Keshav Bansal and Neeta Ambani.
8. Unlisted Shares
It is worth noting that while it is a new phenomenon for Indian sports franchises, numerous European football franchises have been offering their pre-IPO stocks in cricket fans’ lives for a while now. In India, Chennai Super Kings is among the select few sports franchises whose unlisted shares can be traded. These franchises have been able to generate a considerable amount of capital through their pre-IPO stocks, which has proven to be a valuable source of funding for them.
9. Investments in IPL
Saudi Arabia shared plans to invest up to $5 billion in the IPL in 2023. The league is also attracting a lot of interest from American investors who are putting big money into it, making the IPL one of the most profitable sports ventures. According to the Financial Times, US companies like Silver Lake Partners, KKR & Co., and TPG Capital have invested over $3.2 billion in the IPL.
US investors are drawn to the IPL because of its huge popularity and its potential to grow even more. The IPL isn’t just a well-loved sporting event; it also has a big impact on India’s economy.
10. OTT Platforms
Viacom18, the company that owns Jio Cinemas, won the OTT rights for IPL from 2023 to 2027. They bid INR 23,758 crore just for the digital streaming rights! Altogether, the total revenue from IPL media rights for 2023-2027 came to around INR 48,390 crore. This includes INR 23,575 crore for TV rights and INR 23,758 crore for digital rights. This is more than twice the amount earned in the previous period!
11. Franchise Rights
IPL teams earn from franchise rights by getting a share of the central revenue pool, signing local sponsorships, and selling team merchandise like jerseys and caps. Some teams organize international matches, invest in cricket academies, and monetize digital content through ads and brand collaborations. This helps them earn even outside the IPL season.
Indian Premier League(IPL) is a money-making business and festival for cricket fans worldwide. Cricket fans around the world travel across seven countries and seven continents to watch IPL in India. All credit goes to the cricket league as it has created a bigger impact on cricket fans’ lives. It’s a money-making league where the money is generated from all sources. The money is generated from advertisements, sponsors, stadium tickets, merchandise, TV, and media.
FAQs
What is the brand value of IPL 2024?
The IPL business value was calculated to be $16.4 billion as of 2024 and the stand-alone IPL brand value stands at $3.4 billion as of 2024.
How IPL team owners earn money?
IPL team owners earn money primarily through sponsorships, broadcasting rights, ticket sales, merchandise, and team merchandise. They also generate revenue from franchise fees paid by team owners and endorsements.
What is IPL merchandise?
The IPL merchandise includes IPL and team t-shirts, key rings, jerseys, polo t-shirts, mobile covers, chargers, caps, joggers, coasters, wristbands and more.
What is the IPL business model?
The IPL business model revolves around acquiring players and teams, advertising, merchandising, sponsorship, fantasy gaming, and more. The IPL business model’s core is inviting private firms and businesses to own franchises.
Which is the oldest IPL team?
MS Dhoni-led Chennai Super Kings (CSK) had the oldest players in their team, while Rajasthan Royals (RR) had the youngest team playing in the IPL 2021 according to the average age of the players in the squad.
Which is the No.1 successful team in IPL?
MI and CSK are the most successful teams in the league’s history, with 5 IPL titles.
What is IPL team owner income per match?
IPL teams can earn between INR 3–5 crores per match from ticket sales. The home team receives 80% of the ticket sales, while the state cricket board receives the remaining 20%.
How much IPL winning team owners make money?
The IPL offers the highest prize money: INR 20 crore for the winning team and INR 12.5 crore for the runner-up.
How IPL teams earn money?
IPL teams earn money in the following ways:
1. Media Rights 2. Ticket Sales/Gate Revenue 3. Merchandising 4. Selling stake 5. Sponsorship 6. Prize Money 7. Brand Value 8. Unlisted Shares 9. Investments in IPL 10. OTT Platforms 11. Franchise Rights
How do IPL franchises make money?
IPL franchises make money through multiple streams, including broadcast revenue from media rights, sponsorships from brand partnerships, and ticket sales from home matches. They also earn from merchandise sales, prize money based on performance, and player trading. Additionally, income comes from local sponsorships, digital content on platforms like YouTube, and investments in global leagues and regional events. These diverse revenue sources ensure IPL franchises remain profitable.
People who wanted to travel to a different city earlier had to go through a rigorous and cumbersome process of ticket booking and sorting out accommodations through offline mediums. What the country really needed was a portal that could shorten the worries of travelers through innovative travel planning products. This was when Aloke Bajpai and Rajnish Kumar founded Ixigo in 2007.
Ixigo, through its website and numerous mobile apps, wipes out the need for tourists to go through loads of information plus online travel contracts and facilitates curating a travel plan for satisfying and enjoyable experiences. It basically aggregates and then compares variants like real-time travel information in terms of prices and the availability of flights, trains, buses, cabs, hotels, packages, and destinations.
With Ixigo travel solutions, railway bookings, flight bookings, and the bookings of bus tickets, hotels, and more have been a cakewalk.
Read more about the Ixigo Founders and Team, it’s Story, History, Business Model, Revenue Model, Funding, Growth, etc in the article ahead.
Ixigo is India’s leading online plus mobile travel search plus planning website. A one-stop solution for travelers, it aggregates as well as compares the finest deals on hotels, flights, buses, trains, plus packages, and reviews the best travel facts from around 100+ travel websites to extend the most reliable travel information for the users.
Ixigo – How it Works?
Ixigo company stands out as a premier travel platform, boasting a stellar 4.6-star rating from the Google Play Store. It, a well-known exploration app with an easy-to-use UI and objective findings, has had two sister apps before. While the other helped consumers find relevant apps and discounts across e-commerce, hyperlocal services, online travel, and food delivery through advertisers, the former enabled contextual brand outreach to train passengers.
Notably, users could easily schedule interstate ride-sharing through BlaBlaCar with the Ixigo Trains app. This was especially helpful when there were limited train options or waitlists for tickets. Using this diverse strategy as a foundation, Ixigo has combined all of its services into one main app.
Rajnish Kumar and Aloke Bajpai are the Co-Founders of Ixigo.
Rajnish Kumar (Group CEO, Managing Director and C0-Founder) and Aloke Bajpai (Group CPTO and Co-Founder), Co-Founders of Ixigo
Aloke Bajpai
Aloke Bajpai is the Group CEO, Managing Director, and Co-Founder of Ixigo. An IIT Kanpur BTech Electrical Engineering alumnus, Aloke Bajpai, obtained an MBA, General Management from INSEAD and then an MBA, Exchange from The Wharton School. Bajpai started his career as a Software Engineer at Amadeus SAS, who was eventually promoted to the post of Sr Systems and Network Engineer.
He then served as the Vice President at Final Quadrant Solutions before launching Ixigo in 2007. He is also serving as the Director in Freshbus and Director in Confirmtkt.
Rajnish Kumar is known as the Group CPTO & Co-Founder of Ixigo. Like Aloke, Rajnish is also an IIT Kanpur alumnus from the Computer Science & Engineering department. He also interned at ETH Zurich in Data Modelling/Warehousing and Database Administration.
Rajnish also worked at Amadeus SAS as a Software Engineer and was then promoted to Sr. Software Engineer and Technical Lead. He then joined as a Director of Development at Isango! Kumar finally decided to found Travenues or Ixigo in 2006.
Ixigo was last reported to have close to 51-200 employees as per LinkedIn.
Ixigo – Startup Story
The entrepreneurial bug was always there inside the IIT Kanpur wingmates-cum-colleagues, Aloke and Rajnish. However, they were somewhere trapped in the 35-hour per week work rule at the French corporate Amadeus. To disentangle themselves from the clutches of the work life, both of them decided to leave their high-paying jobs in Europe and returned to India in 2006, fully geared up to follow their dreams. They rented a studio apartment in Gurgaon and set up their workplace.
In the initial phase, the Ixigo founders didn’t have a clue of what they were going to do with the entrepreneurial itch that they nurtured, but soon they found out how painful was making travel bookings for several destinations in India was. This gave them the impetus to start up with a travel meta search website for flights in India in 2007. For a year, they worked with no salaries. Over their persistence, ixigo was born.
The only passion behind the company was the vision to build a product to help Indian travelers search and compare hotel information at the same place online and make their lives relatively easier. It was launched in a nascent online travel segment that has since thrived to become one of India’s most viable companies.
“At ixigo, corporate social responsibility lies at the center of our vision and mission”, says the ixigo website.
The Gurgaon-based traveltech startup mainly focuses on empowering the Indian travelers to plan, book and manage their trips effortlessly whether it is the railways, airways, roadways or hotel stays.
Ixigo – Name and Logo
Ixigo Logo
Ixigo – Services
Ixigo Flight Booking Services enables the users to easily book, and monitor flights through the Ixigo app or its website.
Ixigo Flight Booking Services – Ixigo App
Ixigo has already acquired Confirmtkt, and with this app and its inherent app, Ixigo enables fast, easy, and guaranteed booking of train tickets.
Ixigo Train Booking Services – Ixigo App
Ixigo helps the users book buses in an instant via its bus booking services, which is now available on its app itself.
Ixigo Bus Booking Services – Ixigo App
For Ixigo Hotel Bookings, Ixigo has partnered with Booking.com. Though Ixigo doesn’t directly handle the hotel bookings, it facilitates easy and affordable booking of hotels via its partner Booking.com, where the users are redirected as soon as they click on Ixigo Hotels option.
Ixigo Hotels Booking Services – Ixigo App
Ixigo – Products and Features
Ixigo has various products and features. Some of the prominent products and features are:
PLAN
On July 10, 2023, Ixigo unveiled PLAN, an intelligent travel planner powered by OpenAI, a startup that conducts AI research and deployment. Through the utilization of OpenAI’s ChatGPT API, the platform is able to effectively process and comprehend customer preferences, providing them with customized suggestions, itineraries, and recommendations. Additionally, Ixigo is now the only travel agency in India to offer the Ixigo ChatGPT plugin.
bhAI
On April 1, 2023, the travel app introduced bhAI, a new AI-powered headset. This “first-of-its-kind” Bluetooth headset with AI, according to the manufacturer, is intended to help travelers.
Ixigo – Business Model
Ixigo’s business model is compatible with an airport’s requirements since it allows an unbiased comparison of all the available choices, aiding the travelers in deciding which website they should book through, rather than hanging midway in the deal. It mainly serves as an intermediary between the user and a travel booking website and earns commission on each booking.
Besides, the innovative features, for example, the 180-day fare viewpoint, direct booking of airline tickets through the website, and the feature-rich hotel exploration mechanism make this portal tremendously user-friendly. Ixigo’s meta-search business model associates travel contracts from 100+ travel sites and have aided millions of explorers to save time and money on their trip.
In April 2016, it also launched a meta-search application for cabs, which was initiated to generate revenue for the company. As an extension to revenue generation, the company also has an in-app booking alternative that permits the users to book on their website itself using a third-party power-driven app.
Ixigo – Revenue Model
Ixigo makes revenue from different resources; some of the prominent ones are:
Reservation Fees: By charging customers for the reservation of different transport services, such as bus, train, and airline tickets, Ixigo makes money.
Revenue from Rail Tickets: Ixigo offers consumers a convenient platform for making rail travel reservations, with a substantial percentage of its revenue coming from fees associated with reserving train tickets.
Revenue from Airline Tickets: By charging customers a fee to buy airline tickets, the platform meets the varied travel demands of its user base and generates revenue.
Revenue from Advertising: Through partnerships with advertisers, Ixigo expands its revenue stream by showcasing bargains and pertinent material to its user base.
Ixigo faced a number of obstacles with its user engagement approach, especially with regard to concentrating on the instant activity that happens after downloading an app. The business noticed a drop in user activity at this critical juncture and set out to redesign the onboarding process to guarantee both a strong initial impression for new users and long-term retention.
Ixigo also attempted to employ technology to evaluate the influence of complex design and personalization on email and push notification conversions, realizing that a careful balance was necessary to properly increase user engagement.
The decline in first-time consumers’ repeat transactions was another major obstacle for Ixigo. The difficulty was figuring out how to enhance the initial experience before, during, and after the booking process, since this was crucial in getting customers to do additional transactions.
In order to overcome the obstacles encountered and guarantee a smooth, user-centered experience, Ixigo had to proactively manage these digital touchpoints in the world of online contacts, where emails functioned as the starting point for user conversations and conversions.
Ixigo – Funding and Investors
Ixigo has raised a total of $72 million in funding over 7 rounds.The last round that Ixigo had seen came on October 20, 2021.
Ixigo’s shareholding pattern as of May 2024, sourced from Tracxn:
Ixigo Shareholders
Percentage
Rajnish Kumar
8.4%
Aloke Bajpai
8.0%
Elevation Capital
22.9%
Sequoia Capital
15.4%
Gamnat
9.5%
Trifecta Capital
3.2%
Malabar Investments
2.6%
Invesco
3.1%
India Acorn Fund
1.5%
Orios Venture Partners
0.7%
Madison India Capital
0.8%
Info Edge Ventures
0.5%
Fosun Kinzon Capital
0.5%
Planify
< 0.1%
IndigoEdge
< 0.1%
BAF Spectrum
–
RAJ Family Foundation
–
3ADeal
–
Angel
–
Total
77.1%
Ixigo Shareholding
Ixigo – Investments
Ixigo made two key investments: on November 1, 2022, it contributed to FreshBus during a seed round, and on March 3, 2020, it participated in the capital round for gogoBus. These expenditures demonstrate Ixigo’s dedication to promoting innovation and expansion in the travel and associated industries.
Has 400 million annual active users as of October 2024
Has 76.78 million monthly active users as of 2024
Connects over 80 million travelers as of May 2023
It had over 6 million daily active users as of May 2023
It is growing at a velocity of over 8 million downloads as of May 2023
It has a run-rating 50 million bookings on a yearly basis
Ixigo – Financials
Over the past five fiscal years, Ixigo has demonstrated significant growth in revenue and profitability, reflecting its expanding presence in the travel industry.
Particulars
FY24
FY23
FY22
FY21
FY20
Total Revenue
INR 665.1 crore
INR 517.6 crore
INR 384.9 crore
INR 138.4 crore
INR 113 crore
Total Expenses
INR 627.8 crore
INR 484.3 crore
INR 402.5 crore
INR 135.7 crore
INR 139.6 crore
Profit/Loss
INR 73.1 crore
INR 23.4 crore
INR -21.1 crore
INR 7.5 crore
INR -26.6 crore
Ixigo Financials FY24
In FY24, Ixigo reported a total revenue of INR 665.1 crore, marking a 28% increase from INR 517.6 crore in FY23. Expenses also rose to INR 627.8 crore in FY24, up from INR 484.3 crore in FY23. Despite the increase in costs, the company’s net profit surged to INR 73.1 crore, more than tripling from INR 23.4 crore in FY23. This marks a significant turnaround from losses of INR 21.1 crore in FY22 and INR 26.6 crore in FY20, showing strong financial growth and improved profitability over the years.
Ixigo Revenue Breakdown
Revenue Source
FY24
FY23
Revenue from Operations
INR 655.91 crore
INR 501.3 crore
Other Income
INR 9.2 crore
INR 16.3 crore
Total Revenue
INR 665.1 crore
INR 517.6 crore
The revenue from operations grew by approximately 31% from INR 501.3 crore in FY23 to INR 655.9 crore in FY24, indicating a strong performance in Ixigo’s core business activities.
Ixigo Expense Breakdown
Expense Type
FY24
FY23
Employee Benefit Expense
INR 141 crore
INR 126.3 crore
Finance Costs
INR 2.9 crore
INR 0.9 crore
Depreciation and Amortization
INR 12.9 crore
INR 10.8 crore
Other Expenses
INR 471 crore
INR 346.3 crore
Total Expenses
INR 627.8 crore
INR 484.3 crore
Total expenses increased by approximately 30% from INR 484.3 crore in FY23 to INR 627.8 crore in FY24, with significant rises in employee benefits and other expenses.
Ixigo Profit/Loss:
Profit Metrics
FY24
FY23
Gross Profit
INR 38.1 crore
INR 33.3 crore
Operating Profit
INR 61.1 crore
INR 20.7 crore
Net Profit
INR 73.1 crore
INR 23.4 crore
Ixigo’s net profit saw a substantial increase, more than tripling from INR 23.4 crore in FY23 to INR 73.1 crore in FY24, highlighting improved operational efficiency and profitability.
Quick Summary
Revenue Growth: Ixigo’s total revenue grew by approximately 28% in FY24 compared to FY23, driven by a 31% increase in revenue from operations.
Expense Increase: Total expenses rose by about 30% in FY24, with notable increases in employee benefits and other expenses.
Profit Surge: Net profit more than tripled, reaching INR 73.1 crore in FY24, indicating enhanced profitability and operational efficiency.
These financial trends suggest that Ixigo is effectively scaling its operations while maintaining profitability, positioning itself strongly in the competitive travel industry.
Ixigo – IPO
Shares of Le Travenues Technology, the parent company of Ixigo, had a robust debut on the stock exchanges on June 18. The stock listed at Rs 138.10 on the NSE, reflecting a 48.5% premium over its issue price of Rs 93. Similarly, on the BSE mainboard segment, the stock listed at Rs 135.00 per share, marking a 45.16% premium over the IPO issue price of Rs 93. The Mainboard Le Travenues Technology IPO (Ixigo) was a book-built IPO priced at the upper end of the band at Rs 93 per share.
Ixigo – Partnerships
Ixigo has partnered with a number of organizations to date. Some of its partnerships/collaborations include:
Partnership with Flipkart to enhance the Flipkart flight bookings
Partnership with Indira Gandhi International Airport to help the passengers with the airport’s website.
Ixigo partnered with Andhra Pradesh State Road Transport Corporation (APSRTC) to help set up, design, configure, and maintain a ‘Unified Ticketing Solution’ (UTS) on the Cloud Platform of APSRTC.
Ixigo – Sponsorship
On August 21, 2023, India’s travel booking platform revealed that it would be the Men’s Asia Cup 2023’s “official sponsor.” Ixigo has never before been connected to a significant athletic event of this kind.
From August 30 to September 17, 2023, Pakistan and Sri Lanka will jointly host the Men’s Asia Cup.
Ixigo – Marketing Campaign
Ixigo – Marketing Campaign
This campaign brings back memories of the train era when we witness an astronaut outside the spacecraft waving a tea kettle, floating, and exclaiming “Chai Chai” after a tea vendor, just as we frequently do on buses or trains.
Ixigo – Awards and Achievements
Here are some highlights of the awards and recognition that Ixigo has gained thus far:
Won the Bronze Abby at the Goa Fest 2014 for its famous ‘don’t travel Patti bandh ke’ television commercial.
Felicitated with a gold at the Indian Digital Media Awards (IDMA) 2014 for its PNR status app
Received a silver Echo award in 2014 by the Direct Marketing Association International (DMAI) for the brand’s efforts in content marketing
Has been recognized as the fastest-growing travel company in India in the Economic Times’ 2020 growth champions report
Featured in the Discover Channel’s ‘India Startup Stories’ as a leading startup
Declared as the winner of the New code of Work Awards in the mid-size business category
The media company, Skift, recognized Ixigo among the 6 best homegrown online travel players in the Indian travel sector
Ixigo – Competitors
Ixigo has a whole lot of competitors in the market. Starting from a private applications like MakeMyTrip, GoIbiboto government applications like IRCTC train booking, the market is filled with online booking and transaction-facilitating portals. With it, indulging in both conveyance and accommodation, the range of competitors it faces gets doubled.
Ixigo – Future Plans
Ixigo, a prominent online travel aggregator in India, has re-filed its Draft Red Herring Prospectus (DRHP) with SEBI on February 14, 2024, indicating its intention to go public through an Initial Public Offering (IPO), marking a key step toward its ambitious goals for the future.
The IPO is set up to comprise a new offering of 120 crore rupees, highlighting Ixigo’s calculated decision to raise money for more growth and development. In addition to the new offering, 6,66,77,674 equity shares are part of an Offer for Sale (OFS) component that gives current shareholders, such as SAIF Partners, Peak XV Partners, Micromax, and others, the chance to sell their shares.
Notably, with a 26% increase in Ixigo’s revenue from INR 206.47 crore in Q2 FY25 from Q2 FY24, Ixigo stands out as a unique and successful company in the Indian online travel tech startup scene. Ixigo’s strong financial results set the company up for growth, innovation, and sustained profitability as it prepares to go public and establish itself as a major player in the travel technology industry.
FAQs
What is Ixigo?
If you are wondering about the Ixigo app, then this app will help you find your travel solutions. The Ixigo app will help you monitor and book flights, trains, buses, hotels, and more.
How to create account on Ixigo?
Creating an Ixigo account is really easy. For this, one just need to Sign up on the Ixigo website or via the Ixigo app, and then register themselves on Ixigo. After this is done, followed by some other verifications, he/she would be able to login to the Ixigo portal and go about their bookings.
What does Ixigo do?
Ixigo is a travel tech company that helps users book flights, trains, buses, and hotels through its platform.
What is Ixigo net worth?
Ixigo’s overall market cap stands at INR 6,420 crore as of 2024.
Who owns Ixigo?
Rajnish Kumar and Aloke Bajpai are known as the Ixigo owners.
How does Ixigo make money?
Ixigo mainly serves as an intermediary between the user and a travel booking website and earns a commission per booking. Ixigo’s meta-search business model associates travel contracts from 100+ travel site.
How much Funding has Ixigo raised?
Ixigo has raised a total of $72 million in funding over 7 rounds. Their latest funding was on October 20, 2021, from a Debt Financing round.
Is Ixigo government or private company?
Ixigo is a public company, it went public on Jun 18, 2024.
Ola Cabs is India’s largest mobility platform growing into a worldwide perspective. It has a strong friendly global presence as rides are hauled around nearly every continent.
Ola Cabs is driven by the mission to provide sound transport solutions to the billion Indians through technology, connecting users and well-fit drivers in various vehicles from cars to auto-rickshaws to bikes. They came to be running in India and more than 250 cities, with businesses previously in Australia, New Zealand, and the UK now concentrated only in India.
The app offers on-demand rides in a super-large fleet of more than 1.5 million driver-partners lined up to earn income and make mobility easy and efficient for millions of its users. It has a variety of vehicles such as motorcycles, scooters, autorickshaws, bicycles, tempos, and so on that you can book on the app. Ola puts a premium on safety and provides emergency alerts and live ride tracking.
Founded in December 2010 by Bhavish Aggarwal and Ankit Bhati, Ola Cabs originated out of Bhavish’s frustrating interlude with an unreliable taxi driver, leading to the eventual venture of creating some sort of reliable and user-friendly transportation service in India. Mumbai was Ola’s first big step in revolutionizing mobility through technology by connecting passengers and drivers on a mobile app. Moving quickly, the company turned out to be a general support system with over 100 cities under its belt by 2014 and a network of over 200,000 cars. Eventually, diversification took place within services, bringing auto-rickshaws and bike taxis only in 2015, while as of 2017, the launch of Ola Electric has been made to tend to sustainable transportation.
Currently, Ola operates across more than 250 Indian cities and in select international markets such as Australia or New Zealand and links 1.5 million driver-partners with consumers, offering transportation service overall with bikes, auto-rickshaws, and cabs also being others. Other than ride-hailing, Ola diversified into food delivery, financial services, and electric mobility to make a value-adding integrated ecosystem. Valued at about $7.3 billion, Ola was privileged to remain valuable into the later part of 2021 and remains committed to bringing reliable and accessible mobility solutions to a billion people and becoming a global leader in ride-hailing.
To ensure compatibility between both drivers and customers, the business model created by Ola is a user-friendly mobile application that enables them to be connected. The business model uses technology and real-time data effectively to connect riders and drivers in proximity, making booking seamless and fast. By using such a service, users download the Ola app, create an account, input destination and pickup locations, and avail of either Ola Micro, Ola, Mini, or Ola Share trips depending on what suits them. Another thing it does is show details about the driver: his name, picture, vehicle details, and estimated arrival time – and adds further convenience through real-time tracking.
Ola adds some service enhancements to foster an enriched customer experience, offering facilities for hourly or full-day bookings through Ola Rentals designed for some shopping expeditions or a business tour, and Ola Outstation which is designed for travel between cities. But Ola Share saves a decent amount on their pockets and allows them to enjoy eco-friendly and pocket-friendly travel by sharing rides with other ride-takers. Ola Auto is thus the only other award system for short distances. With multiple payment options available, the company allows customers to pay through cash, cards, and digital wallets ensuring safety and ease of transactions over the Internet. The competitive position of Ola in the transport sector has improved through advancements in technology.
The business of Ola rests in making trips easy through commissions calculated on a group of 15%-20% for each ride. The commission rates differ depending on location and type of ride. The charges are built around base fares, distance, waiting time, and inflated rates during peak hours. Another source of revenue is Ola Money, a digital wallet that allows people to book rides without money. Transaction fees from its source of revenue accompany this unique product. Ola also has cab leasing services for drivers who cannot buy their vehicles at leasing charges and commissions from rides.
Ola tries to expand revenue by tying up with big sources for discounted services of transportation for their employees, and hence it is increasing usage through that route: revenue in the form of advertising, which means more in-app promotions of products to the right users at the right time and near the right place. For regular Ola users, there are subscription services in the form of Ola Select, which gives them certain premium service benefits like the first preference in booking a cab and a “no-surge pricing” wherein they pay a certain monthly amount. Eventually, Ola has extended its revenue by venturing into segments of the food and liquor delivery business, such as Ola Foods and Ola Dash, to take full advantage of the scale of the platform to open up entirely new markets.
OLA’s Financial Performance
Operating Revenue for Ola Cabs From Financial Year 2018 to 2023
OLA Unique Selling Proposition
Ola Cabs has successfully provided a fine solution that suits both the passengers as well as the driver-partners in a perfect balance that includes price and convenience, quality, and ensuring value for each end. The passengers have ensured competitive pricing, real-time ride tracking, multiple vehicle options, and innovative seamless cashless payments like Ola Money. The Ola Play and flexible booking options, all the benefits from Ola Select membership programs, and various other improvements enriched the overall Ola-powered experience offered to any customer. All this is climate entertainment hosted in the cab in addition to those facilities with added benefits for Ola Play, flexible booking options, and Ola Select. They also reach the overall customer experience with 24/7 customer help and qualified drivers who partly worry-free and partially trust the client.
Ola, on another note, offers flexible work hours to driver-partners where they earn commission out of great interaction points with clients, have daily settlements, and receive leasing and servicing services or training programs. This is not commercially accepted in terms of business and efficacy. Rather, Ola is all about joining people to diverse services as a whole. Its main selling focus is safety, convenience, and reliability through the application of technology in several services offered. Ola is the only player to address the needs of both riders and drivers, which means that the Ola product is a complete and reliable mobility answer to use against its valued competitors in its large-growing ride-hailing industry.
OLA SWOT Analysis
Strengths
Market Leadership: Practically Ola has established itself to be the leading personal transfer service in India, strongly positioned in the market, as evidenced in its very wide reach, particularly in Tier 2 and 3 cities median.
Diversification Services: Ola offers the following services-footing, nautical auto rickshaw, and bicycle motorbike. Ola presents to every heterogeneous customer.
Successful Help With Diversification: Ola has thus far forayed into areas like the production of electrical chariots, or rather through Ola Electric, which can further drive growth besides led sustainability engagements.
Dynamic Pricing: It is part of the company’s strategies for optimizing revenue during a peak time, where the model of dynamic pricing plays a vital role in the transformation process of supply and demand management.
High Integration of Technology: A robust mobile application for Ola provides a very pleasant user experience with a lot of facilities like real-time live tracking, multiple payment facilities, and in-app it also has a fun-filled entertainment called Ola Play.
Weaknesses
High Driver Turnover: Ola faces issues with driver churn as a result of their working conditions and earnings, negatively influencing the quality of their services.
Service Quality Issues: As a result of customer complaints regarding the behavior of the drivers, the company’s reputation can be damaged with inconsistency in satisfactory service and a resultant increase in customer turnover.
Financial Burden on Drivers: There tends to be high discontentment and attrition since the business model exerts enormous financial stress on the driver partners.
Opportunities
New Markets: Ola has the opportunity to expand its services both internationally and into underserved domestic markets, especially in Tier 2 and Tier 3 cities where public transportation options are limited.
Internet Adoption on the rise: The increasing internet access in remote areas also allows Ola to reach new customer segments.
Partnerships: Additionally, as the demand for eco-friendly transportation solutions rises globally, investing more in electric vehicles can help Ola establish itself as a leader in sustainable mobility. Furthermore, forming partnerships with other sectors, such as food delivery, can create new growth and diversification opportunities.
Ola Electric Vehicles
Threats
Tough Competition: Ola goes head-to-head with other ride-hailing companies like Uber, which could have an impact on its market share and ability to make money.
Rules and Red Tape: Problems like not renewing licenses in important markets (for example, London) put Ola’s day-to-day business and plans to grow at risk.
Money Matters: When the economy takes a nosedive or long-lasting effects from things like the COVID-19 outbreak happen, they can shake up how many people want to use ride-hailing services.
Conclusion
Ola Cabs has successfully merged technology with the focus on the customer, leading to a very comprehensive ride-hailing platform. The convenience and accessibility that this company offers its passengers are enabled by linking the passengers and the drivers through an easy-to-use app. The company generates revenues from a range of sources: a 15-20% commission on every ride, varied ride options ranging from auto-rickshaws to electric vehicles, and fees from its digital wallet, Ola Money.
In addition, the cab-leasing program expands the driver network for Ola, while in-app advertising and corporate partnerships are additional revenue sources. These selling points for Ola are affordability, flexible working hours for drivers, and ease of features like real-time tracking and multiple payment methods. As the company expands to new areas such as food delivery and grocery logistics, it sets it up for long-term growth. By embracing the market trends that it naturally exploits, Ola has possibly met the needs of both the passenger and the driver.
The founders of Ola Cabs are Ankit Bhati and Bhavish Aggarwal.
How does Ola Cabs operate?
It operates on an aggregator model, where it partners with independent drivers and fleet owners rather than owning cars itself.
What is Ola’s primary source of revenue?
Ola earns money by charging a commission on each ride booked through its platform. This commission varies based on factors like location, ride demand, and driver incentives.
tripe is very popular among people across the world as a leading financial services company headquartered in both San Francisco and Dublin founded by Patrick Collison and John Collisson.
They offer payment processing software and application programming interfaces for various e-commerce websites and similar applications in mobile.
Their marketing strategy is credited for their tremendous growth since their launch in 2009 which took them to $36 billion growth in less than 10 years. From there, in 2024, Stripe is valued at $70 billion. This article will look at their marketing strategies in an in-depth manner.
Stripe is a payment platform that helps businesses accept money online and in stores. It processes payments from credit cards, debit cards, and digital wallets, then transfers the money to the business’s bank account. Stripe also offers extra features like security tools, automatic retries, and card updates. Developers can use Stripe’s APIs to add it to websites and apps. The process is simple: a customer pays, Stripe connects with their bank, gets approval, and sends the money to the business. Stripe also provides optional services like automatic tax calculation and custom domains. The Stripe logo is prominently featured in their ads, showcasing the brand’s sleek design and commitment to providing seamless payment solutions for businesses worldwide.
The marketing strategy of Stripe goes beyond the simple tactics of content marketing. They make sure that their content delivery is only after a thorough study of the target audience. These audiences are not just the customers, but also the developers.
Through this way, they retain their customers in an efficient manner. Hence, it can be rightly concluded that Stripe devises their content marketing strategies around its target audience and not vice versa.
Maintaining Contact with Audience
One of the most important initiatives of Stripe with regard to the marketing strategy is their Stripe Sessions which enable them to connect with users directly. It is an annual event where the users are familiarised with the new launches of Stripe and the company listen to the feedback of the users. The sessions are lead by engineers and domain experts from Stripe.
Stripe Brand Campaign
Niche Marketing
It is a classic marketing strategy of Stripe. They are aware that their primary customers are developers and hence Stripe markets their products, especially for the developers.
Being Responsive
Stripe focuses on both customers and products. When people contact them, they respond quickly and take action fast. They know that if someone has a problem and can’t find a solution, it’s important for Stripe to fix it right away.
Strengthening Brand Recognition and Loyalty
Their blog posts and contents are heavily driven by a strong desire to build their brand loyalty and recognition. They create an impression where Stripe becomes the dream company to all the developers to who they market the product.
In that way, Stripe becomes the first choice and people hardly ever look for a second option. This will also facilitate their publicity through word of mouth. They have also instituted high switching costs which have also become a way to retain their customers.
They have been consistent and efficient in launching the right product at the right time. Unmatched by their rivals, Stripe’s products are beyond payments. Their programmable infrastructure for global money movement called Global Payments and Treasury Network (GPTN) is an example.
How Stripe Conquered Payments
Hosting Events
Stripe started by holding Capture The Flag hackathons every month. When these became popular, they moved them online, helping them build even stronger relationships with developers. Another great way is meetups—Stripe has organized many meetups for developers and hackers over the years and still does today.
Blogs and Other Social Media
The CEO of Stripe himself has agreed on the role of writing in their marketing in their initial days. They have a well-kept blog which is a very important channel for communication.
They have also published various books on the topics that their firm addresses like economics and technology. They also have Stripe Guides which have been instrumental in retaining customers.
On social media like Twitter, they have more than a hundred thousand followers. These platforms become an extremely efficient pathway for them to market their products and understand the pulse of the users.
Conclusion
Stripe leads the way when it comes to materialising one’s vision. Stripe’s advertising focuses on showcasing its seamless payment solutions, highlighting ease of integration and powerful tools for businesses of all sizes. The growth they achieved within such a short span of time is a testament to their handwork and strategic planning. Their marketing strategy goes by the concept ‘customer is king’.
Moreover, they know what they want and whom they should target to pitch the product in the right manner. Stripe also gives the valuable lesson that no way is a bad way to market your products when you know how to do it.
FAQ
What is Stripe?
Stripe is a technology company that provides payment processing solutions for businesses. It helps companies accept online payments, manage transactions, and streamline financial operations through easy-to-integrate APIs and tools.
Who is the founder of Stripe?
Patrick Collison and John Collison founded Stripe in 2009.
What is Stripe digital marketing?
Stripe’s digital marketing strategy uses content marketing, SEO, and developer-focused resources to attract tech-savvy entrepreneurs and startups. By providing valuable tutorials, case studies, and user testimonials, Stripe builds trust and drives organic traffic.
The call for digitalization has certainly upped the startup ecosystem and made companies reach out to their target customers with products and services online. Along with the startups and established brands and businesses, the growing digitalization has also been constantly empowering entrepreneurs and other individuals to advertise and broadcast themselves online via diverse social media apps.
Here, it’s true that reaching the masses virtually or via the online route has become easy, but delivering them to their doorsteps and within a specific deadline has constantly been challenging. However, with the emergence of hyperlocal delivery apps and companies like Shadowfax, the world is truly turning into an easily navigable place with satisfied customers.
The Bangalore based on-demand delivery service, Shadowfax, promises speedy, secure, and convenient deliveries that are empowered by cutting-edge technologies and a peerless network. Founded in 2015, the company has steered to become India’s largest hyperlocal delivery platform, as per its website, which offers on-demand hyperlocal delivery with improved delivery analytics. Besides, it also delivers e-commerce and quick commerce orders fast and with optimum security.
Here’s more about the Shadowfax Founders and Team, Funding and Investors, Challenges, Competitors, Mission and Vision, Acquisition, and more.
Shadowfax – Company Highlights
STARTUP NAME
SHADOWFAX
Headquarters
Bangalore, Karnataka, India
Sector
Courier, Logistics
Founders
Abhishek Bansal, Vaibhav Khandelwal, Gaurav Jaithliya and Praharsh Chandra
Shadowfax is an on-demand hyperlocal delivery platform provider. It is committed to helping retailers concentrate on their main line of business by contracting out last-mile delivery work. Serving Indian clients, the business effectively accomplishes this through tracking orders, analyzing delivery data in depth, and gaining access to consumer insights. Customers can quickly track their orders by inputting the AWB number into an easily accessible tracking system at tracker.shadowfax.in.
Shadowfax – How it Works?
The company’s platform offers tech-enabled one-stop delivery services for e-commerce, restaurants, FMCG, pharmacy companies, and online and offline retailers, along with empowering businesses with cutting-edge technology in terms of logistics and access to a reliable delivery network to make fast and efficient delivery possible.
Within a short period, Shadowfax has become one of India’s largest last-mile delivery platforms with more than 1.5 lakhs transacting delivery partner networks. The last-mile logistics network that Shadowfax offers is tech-enabled and emerges as a one-stop delivery solution. The unique app of Shadowfax helps with the effortless delivery of food, grocery, pharmacy, and e-commerce products for businesses and individuals, thereby delighting the customers for real.
With its feature-rich technology and unmatched network, Shadowfax benefits the brands as well as the riders, making swifter deliveries possible.
Advantages for the Brands:
Shadowfax makes customized deliveries possible
With an in-demand rider network, Shadowfax promises to meet the fluctuating business requirements
Home delivery of products across multiple categories
Advantages for the Riders:
Shadowfax extends the flexibility of rides
With a single app that the riders need to handle, they can make the most of a day
Shadowfax boasts faster payouts and unlimited opportunities to earn for the riders
All can use the Shadowfax app after an easy Shadowfax login process that they need to complete, which can be done once they have created their own Shadowfax accounts.
The analysis from Mordor Intelligence indicates that there will be significant development in the courier, express, and parcel (CEP) sector in India. It is projected to grow from its valuation of $ 8.58 billion in 2024 to $15.93 billion by 2030 at a strong CAGR of 10.87%.
According to the report, this development can be attributed to the growing e-commerce sector, changing consumer preferences, and technological advancements. According to Mordor Intelligence, these elements will play a crucial role in determining how the Indian CEP market develops over the next few years and will boost the sector’s productivity and level of competition.
Shadowfax – Founders and Team
Shadowfax was initially founded by IIT-Delhi alumni Abhishek Bansal and Vaibhav Khandelwal in April 2015, after which they were joined by two more IIT Delhi alumni, Gaurav Jaithliya and Praharsh Chandra.
Abhishek Bansal (Co-Founder and CEO), Vaibhav Khandelwal (Co-Founder and CTO), Co-Founder of Shadowfax
Abhishek Bansal
Abhishek Bansal is the Co-Founder and CEO of Shadowfax. He graduated from IIT Delhi with a BTech in Production and Industrial Engineering. After working for Hay Group for around 2 years as a Business Analyst and an Associate Consultant, Bansal co-founded Shadowfax, where he still serves as the Co-Founder and CEO.
Vaibhav Khandelwal
Vaibhav Khandelwal is the Co-Founder and CTO of Shadowfax. He was also a student at IIT Delhi, where he completed his BTech in Electrical, Electronics, and Communication Engineering. Starting as a Research Intern at Adobe, Khandelwal served as a System Two Advisor, LP, at Research Analyst. However, he left the job within a year of joining and eventually decided to co-found Shadowfax with Bansal.
Gaurav Jaithliya (Co-Founder and Chief of Business Strategy), Praharsh Chandra (Co-Founder and Chief Business Officer), Co-Founder of Shadowfax
Gaurav Jaithliya
Gaurav Jaithliya is the Co-Founder and Chief of Business Strategy of Shadowfax. He was also a student of IIT Delhi, from where he completed his Dual Degree in Mathematics and Computing. GulfTalent was the first company that Gaurav joined, after which he joined Shadowfax as a Co-founder and the Chief of Business Strategy and he is still serving the role.
Praharsh Chandra
Praharsh Chandra is a Co-Founder and the Chief Business Officer at Shadowfax. Praharsh Chandra was a Mechanical Engineering student who completed his BTech degree from the IIT Delhi, much like the other co-founders, and then interned at HUL. After interning for around 3 months, Chandra joined A.T. Kearney. He worked with the company for around 2 years as a Business Analyst and a Senior Business Analyst, eventually leaving it and co-founding ShadowFax.
Shadowfax – Startup Story
Shadowfax when started out, its goal to transform meal delivery, and it attracted notice for its creative thinking. Seeing bigger opportunities, the founders went beyond food delivery to become a hyperlocal platform for express mail, electronics, furniture, pharmacy, groceries, and lifestyle delivery.
With this tactical change, Shadowfax entered a new and exciting phase as a prominent participant in the delivery services industry. By accommodating a range of consumer and commercial demands, the company established itself as a flexible solution provider for different delivery needs.
As a multi-vertical hyperlocal delivery behemoth, Shadowfax has grown from a specialized food delivery firm to a testimony to entrepreneurial vision. This voyage demonstrates its dedication to innovation and satisfying the changing needs of the market.
Shadowfax – Mission and Vision
The company’s mission on its website states, “Build the fastest and most reliable logistics network by empowering a million microentrepreneurs through technology to deliver anything, anywhere.”
The company’s vision on its website states, “Enabling commerce by empowering lives for everyone, everywhere.”
Shadowfax – Name, Tagline and Logo
Shadowfax Logo
Shadowfax is “Derived from the mythical creature of “Lord of the Rings”, Shadowfax is named after the “Lord of all horses”, who is an epitome of monumental speed and communication, much like our reliable and agile logistic offerings.”
Shadowfax operates an unusually built business-to-business logistics network in more than 2,500 cities in India as of now. The startup works with neighborhood stores to use their real estate to store inventory and has a large network of freelancers for delivery.
E-commerce contributes the most to Shadowfax’s business. Food and groceries are next, while reverse logistics account for the rest of them. Shadowfax also has a courier tracking system, which provides an online automatic tracking system to track shipments. Customers can track the current status of the parcel instead of visiting the courier location or calling the customer service center.
Shadowfax – ESOPs
Shadowfax rolled out an employee stock ownership plan (ESOP) buyback plan for its employees on December 8, 2020. The total value of the ESOP plan was estimated at around $5 million and was solely designed to reward its employees as the business recovered post the pandemic. As per the buyback plan, Shadowfax allowed the eligible employees, who have been granted the ESOP options and have completed more than 4 years with the company, to sell 35% of their assigned or vested ESOP shares.
Shadowfax – Challenges Faced
Shadowfax faced the challenges associated with the launch, including early operational obstacles that needed quick fixes. According to Abhishek Bansal, the business realized how important it was to operate across a variety of sectors with different peak hours. This tactical change was made in order to optimize efficiency and allow a single delivery person to service several groups at once.
Financially speaking, Shadowfax presented a significant issue in January 2016 with a startling minus 35% margin. But the group’s fortitude and wise choices produced a stunning comeback, and by the end of the year, they had a 4% lead. In spite of these financial difficulties, Shadowfax’s growth trajectory remained stable, as seen by its threefold rise in 2017.
Bansal noted that all platforms operating in the same-day delivery market depend on Shadowfax’s services, underscoring the latter’s critical role in the industry. The organization demonstrated its flexibility and resilience in managing the intricacies of the startup scene by taking on these difficulties head-on without focusing on the precise answers.
Shadowfax – Shareholders
Shadowfax shareholding as of February 2024 (source: Tracxn):
Some of the major growth milestones of Shadowfax are:
It has 30 lakh verified riders as of February 2024
The company has 1.5 lakhs monthly transacting delivery partners as of February 2024
It delivers 15 lakhs+ orders daily as of February 2024
It has a presence in over 2500 cities as of February 2024
It is delivering to 15,000+ pin codes as of February 2024
Shadowfax – Financials
Shadowfax Financials
FY24
FY23
FY22
FY21
Revenue
INR 1,896.5 crore
INR 1,422.9 crore
INR 997.4 crore
INR 487.6 crore
Expenses
INR 1,908.4 crore
INR 1,565.5 crore
INR 1,173.5 crore
INR 620.5 crore
Profit/Loss
INR -11.9 crore
INR -142.6 crore
INR -176.1 crore
INR 132.9 crore
Shadowfax Financials
Shadowfax witnessed strong revenue growth of 33.3% in FY24, reaching INR 1,896.5 crore, up from INR 1,422.9 crore in FY23. However, expenses also increased by 21.9%, rising from INR 1,565.5 crore in FY23 to INR 1,908.4 crore in FY24. Despite higher costs, the company significantly reduced its losses by 91.6%, narrowing from INR 142.6 crore in FY23 to INR 11.9 crore in FY24, indicating improved financial stability.
Shadowfax Revenue
Revenue Breakdown
FY24
FY23
Revenue from Operations
INR 1,884.8 crore
INR 1,415.1 crore
Other Income
INR 11.7 crore
INR 7.8 crore
Total Revenue
INR 1,896.5 crore
INR 1,422.9 crore
Revenue of Shadowfax increased by 33.3% from INR 1,422.9 crore in FY23 to INR 1,896.5 crore in FY24.
Shadowfax Expenses
Expense Breakdown
FY24
FY23
Employee Benefit Expense
INR 211.6 crore
INR 213.7 crore
Finance Cost
INR 7.2 crore
INR 12.9 crore
Amortization & Depreciation
INR 27.8 crore
INR 24.0 crore
Other Expenses
INR 1,661.9 crore
INR 1,314.9 crore
Total Expenses
INR 1,908.4 crore
INR 1,565.5 crore
Expenses of Shadowfax increased by 21.9% from INR 1,565.5 crore in FY23 to INR 1,908.4 crore in FY24.
Shadowfax Profit/Loss
Profit/Loss Breakdown
FY24
FY23
Profit/Loss before Tax
INR -11.9 crore
INR -142.6 crore
Profit/Loss for the Year
INR -11.9 crore
INR -142.6 crore
Shadowfax’s loss reduced significantly from INR 142.6 crore in FY23 to INR 11.9 crore in FY24.
Quick Financial Summary of Shadowfax
Revenue grew by 33.3% in FY24 compared to FY23, reaching INR 1,896.5 crore.
Loss reduced significantly from INR 142.6 crore in FY23 to INR 11.9 crore in FY24.
Major cost drivers include an increase in operational and other expenses.
Business implications: Improved revenue growth and reduced losses suggest stronger financial stability and operational efficiency.
Shadowfax – Funding and Investors
Shadowfax has raised a total of $234 million in funding over 12 rounds. Shadowfax raised $4 million in its Series F round, led by Mirae Asset and NGP Capital, closing at a $712 million valuation in February 2025.
Uber has partnered with logistics provider Shadowfax to enhance its bike taxi service, Uber Moto, in India. The collaboration adds over 2 lakh two-wheelers to Uber’s fleet, boosting service coverage and reliability for riders seeking quick, affordable commutes.
RapidShyp
RapidShyp, Om Logistics’ eCommerce shipping platform, has partnered with Shadowfax to offer express delivery to D2C brands across 15,000 pin codes in India, with plans for nationwide expansion.
Shadowfax – Acquisitions
Shadowfax has acquired two companies to date. The company acquired NuvoExon on October 31, 2017, a specialized logistics services provider that specializes in handling reverse flow issues in the Indian e-commerce industry. On November 9, 2015, Shadowfax further broadened its range of offerings when it acquired Pickingo, an on-demand B2B hyperlocal delivery service provider.
Ever since Shadowfax came into being, the company has grabbed awards and recognition every now and then. Here is a list of the prominent awards and recognitions garnered by Shadowfax:
The company has been declared the best Third logistics company at the India Retail, E-commerce, and D2C Summit 2023
The company has won Operational Excellence Awards by ONDC’s Elevate Awards 2023
The company was awarded the Silver award for Outstanding Performance in the COVID Focussed Community Support at the 4th CSR Health Impact Awards, 2020 COVID Edition
Shadowfax was declared the winner in the category of Innovation in Transport Tech at the 10th Aegis Graham Bell Awards, 2020
The company was recognized as the winner of Excellence in Innovation by ET at its Now Stars of the Industry Awards, 2019
Shadowfax was also conferred the title of winner of Disruptive Startup Logistics of the Year at the 9th Inflection Conference & Awards, 2019
Amazon awarded Shadowfax, the Excellence Super Star Award in 2019, as the winner of Best Emerging Service Partner
Shadowfax also boasts of being the winner in Providing last-mile delivery services at the Flipkart Last Mile Agency Award of 2019
Shadowfax was also recognised at the Mahindra Transport Excellence Awards, 2019, as the winner of Dream Chasers for Driving Positive Change
The company was also a part of Forbes 30 under 30, listed by Forbes in 2019
Shadowfax won Best use of Technology in Contact Center (Logistics) in the 2nd Annual CX Excellence Awards 2023
Shadowfax – Competitors
The top competitors in ShadowFax’s competitive set are:
Bansal stated that Shadowfax, which is now profitable, is aggressively looking for additional prospects. Within the next 24 months, the company hopes to list on the Indian stock exchanges, which would be a major accomplishment in its goal of expanding through strategic acquisitions.
Shadowfax plans to use the recently raised funding to grow its middle-mile network over the next 18 months. Their objective is to improve delivery services to include all 20,000 Indian pin codes. This growth strategy demonstrates Shadowfax’s resolve to become a major force in the logistics industry by demonstrating its dedication to providing effective logistics solutions over a larger region.
Logistics startup ShadowFax plans to raise INR 2,500–3,000 Cr through an IPO, aiming for a valuation of INR 5,000–8,000 Cr. Promoters and investors are in talks with merchant bankers to move the process forward.
FAQs
What is Shadowfax Technologies Ltd.?
Shadowfax is an Indian company that offers on-demand hyperlocal delivery with delivery analytics by analyzing delivery data, order tracking, as well as access to consumer insights.
Who is the CEO of Shadowfax?
Abhishek Bansal is the current CEO of Shadowfax.
Who founded Shadowfax?
Shadowfax was founded by Abhishek Bansal and Vaibhav Khandelwal and was joined in by Gaurav Jaithliya and Praharsh Chandra, in 2015.
When was Shadowfax founded?
Shadowfax was founded in 2015, by initially by Abhishek Bansal and Vaibhav Khandelwal, while Gaurav Jaithliya and Praharsh Chandra joined the list of the company’s co-founders in December 2020.
What is Shadowfax courier tracking and how is Shadowfax tracking done?
Shadowfax allows all the users to track their couriers during the time they are with Shadowfax with the help of its intelligent Shadowfax courier tracking facility. To use Shadowfax tracking, you simply need to visit tracker.shadowfax.in, and then enter your AWB Number and click/tap on Track Order to track your order.
Where is the Shadowfax office?
The Shadowfax office is in Bangalore, India.
How to proceed with Shadowfax login?
The Shadowfax login is an easy process in which you simply need to visit the Shadowfax website in order to log in. However, it is important to note that you should be having your Shadowfax account first, in order to begin with it.
How Shadowfax works?
Shadowfax is a logistics platform that connects businesses with delivery partners for last-mile, same-day, and on-demand deliveries. It uses technology to assign orders to riders, optimizing routes for speed and cost efficiency.
Bollywood star Hrithik Roshan has joined Bengaluru-based cloud kitchen startup Curefoods as a brand ambassador and investor for EatFit, the company’s flagship brand, which is now being rebranded as “Kitchens of EatFit.” The business did not, however, provide the deal’s financial details. According to a corporate release, EatFit (EF), HRX by EatFit, Great Indian Khichdi (GIK), Homeplate, Chaat Street, Rolls on Wheels, Millet Express, and Madras Curd Rice corporate are among the eight brands that are part of The Kitchens of EatFit.
According to the company’s official statement, Curefoods wants to make “Kitchens of EatFit” a trustworthy symbol that is associated with the brands’ dedication to the highest standards of nutrition and food safety, with an emphasis on ISO-Certified Kitchens, Zero Chemicals, and Zero Trans Fat.
Redefining the Future of Food
According to Ankit Nagori, the founder of Curefoods, “The brand is set to rewrite the present state of food, inspiring trust and innovation across the industry, with Hrithik Roshan as the company’s brand ambassador and investor.” With “Kitchens of EatFit,” the company hopes to expand its wholesome menu to over ten cities nationwide.
“As an investor and ambassador, I am honoured to be a part of this journey, and I have no doubt that Kitchens of EatFit will establish new standards in the food industry,” Hrithik Roshan remarked. The development occurred as the company is considering listing on stock exchanges. It has recently begun discussions with bankers to present its IPO proposal, and advisers are anticipated to be finalised in the next few days. As part of the 2025 startup IPO wave, Curefoods is getting ready to make its first public offering (IPO) soon.
Proposed IPO
According to reports, the Accel-backed business is expected to raise between $300 and $400 million through the sale of its first shares during the later half of the fiscal year 2025–2026 (FY26). It is important to remember that the IPO’s size is still subject to vary based on how many secondary shares are sold by current owners.
Furthermore, the business has made a calculated investment in packaged ice solutions from Dras Ice in order to take advantage of the frozen chain logistics of the latter and enhance its distribution capabilities for quick-service restaurants (QSRs) and cloud kitchens.
According to the company’s filings with the Registrar of Companies, its consolidated revenue increased by 53% to INR 585 crore in FY24 from the previous fiscal year. According to media estimates, Curefoods anticipates ending FY25 with an annual revenue run-rate of about INR 1,000 crore. According to data, the startup’s consolidated loss decreased from INR 342.7 crore to INR 172.6 crore in FY24.
At a time when the Securities Exchange Board of India (SEBI) has tightened its grip on financial influencers, well-known financial influencer Sharan Hegde’s company, 1% Club, has obtained an Investment Advisor (RIA) licence. Subject to certain rules established by SEBI, the licence permits a person or business to function as an RIA, which is legally permitted to offer customers financial advice on investments in the Indian market.
Now, the company’s Personal CFO division complies completely with the stringent regulations set forth by SEBI. According to Hegde, the business is now the first influencer-led enterprise to obtain a SEBI-RIA licence. Working with leading compliance and legal organisations in the nation, the process of acquiring the licence took six to eight months.
Finfluencers not Preferred Choice for SEBI
According to Hegde, people have been demanding that finfluencers register since SEBI has been harshly critical of them for the past one to one and a half years. He noted that the business currently has 45 employees and advises about 1,000 clients on financial matters. In less than a year, the firm has managed INR 1,000 crore in assets under advisory (AUA). This has been accomplished profitably by the 1% Club.
Hegde wants to continue scaling it. The company will eventually be able to employ at least 1,000–2,000 people in financial planning roles, each of whom will be able to assist 200–300 clients. The enterprise would have just touched the surface of India’s needs, even if it were extremely successful.
India Need More Financial Advisors – Hegde
A financial counsel is desperately needed in India right now, Hegde opined. At the moment, only those with savings of at least INR 2 to 3 crore have a financial planner. India needs about 10 lakh financial planners, according to SEBI. We only have a thousand, though. Therefore, if you ask any middle-class Indian today, they have no financial planner and haven’t ever considered what one is. Hegde went on, “So, we felt that there is a huge gap in the market to offer this as a service.” Co-founder Raghav Gupta stated, “We will put what we have been preaching into practice under the Personal CFO division, which is a subsidiary in the parent company.”
“Because no one likes studying, everyone has been quite critical of education corporations. Thus, we aimed to be as good as we talked. Since many individuals claim that everyone can produce content and earn money, we don’t want to only teach.” With the laws and compliance that SEBI has adopted, this licence is our social proof to the world that we can actually do it,” Hegde stated.
Nitin Konde
