According to media citations, hospitality startup Oyo has begun preparing its draft red herring prospectus (DRHP), which would be its third attempt to go public, by the first quarter of the upcoming fiscal year. Ritesh Agarwal, the founder, is currently rearranging his shareholdings, which is connected to the upcoming IPO.
According to media reports last week, Peak XV Partners has already sold shares worth $80-90 million, while early investors, Lightspeed Venture Partners and others, are seeking to sell their shares in the Gurgaon-based company. Agarwal has entered into debt finance agreements that include the IPO plans in order to execute a public offering this year. Media reports emphasised that Oyo’s goal is to file well before the conclusion of the first quarter.
Agarwal, SoftBank group, and HNI are Expected to Retain Key Space
In order to invest now and benefit from an IPO, the new investors—mostly family offices—are interested in the IPO link. Before the anticipated IPO filing, three significant shareholder groups—founder Agarwal, SoftBank Group, and HNI family offices—are anticipated to possess a significant portion of the company’s capital table, indicating a concentrated ownership structure.
According to the most recent data on Tracxn, Agarwal and SoftBank share more than 75% of Oyo parent company Oravel Stays; however, the founder’s stake may increase further as a result of his new investment in the company, which he founded in 2012.
According to an Oyo representative, the firm has not yet decided on the IPO’s timeline. Oyo is positioned alongside late-stage consumer internet companies like Zepto that are considering public markets this year as a result of the IPO rush. After the public markets embraced new-age companies in 2024, at least 20 startups are anticipated to enter the market this year.
Oyo Making Significant Efforts to Launch IPO
In January 2023, the stock market authority rejected Oyo’s initial 2021 effort to go public. After that, the business submitted a new application for a smaller initial public offering (IPO), but it withdrew it in May of last year and chose to raise money privately. At a valuation of $2.4 billion, it concluded a fundraising round of INR 1,457 crore. From a height of $9 billion in 2021 to the present $4 billion, the SoftBank-backed company’s valuation has been erratic, reflecting a resurgence in sustainable operations.
Oyo’s biggest investor, SoftBank, had cut its valuation from $3.4 billion to $2.7 billion in 2022. Oyo’s updated confidential filing called for a 40–60% lower initial public offering (IPO), whereas its initial proposal was for a $1.2 billion (INR 8,430 crore) offering. Although specifics are still being completed, its most recent IPO is probably going to be less than $1 billion. However, at a valuation of about $4 billion, it is anticipated to fetch a higher price in the ongoing stake sale discussions. In the meantime, Oyo has become profitable, and its cash balance has strengthened thanks to recent fundraising.
In FY24, Oyo reported its first-ever profit after taxes of INR 229 crore. In the first quarter of FY25, the company reported a profit of INR 132 crore. This performance has been fuelled by strategic investments in Europe as well as expansion in Southeast Asia, India, and the US.
The owners of API Holding, the company that operates PharmEasy, Dhaval Shah, Dharmil Sheth, and Hardhik Dedhia, are planning to launch a new consumer business. The managing director (MD) and CEO of PharmEasy, Siddharth Shah, has also made a personal investment in the new business. The creators have received additional funding from a few venture capitalists (VCs), who previously supported their business.
The founders also stated that they will no longer be involved in the day-to-day management of the e-pharmacy startup. For more than a year, this daily operational handover has been planned. With operational cash flow break-even in the most recent quarter, the founders are now happy that the business is doing well. According to a statement from Shah, Sheth, and Dedhia, certain outstanding leaders have now taken on the day-to-day duties of the brand as well.
Funders Holding up their Positions on the Board
The founders jointly said that they are still committed to the firm and will keep onto their shares for the long term for value creation, clearly outlining their respective perspectives on the ventures. Seth, Shah, and Dedhia will remain on the boards of API and Thyrocare. According to the statement, they would continue to be unwavering supporters of creating India’s top healthcare organisation and place their faith in Siddharth Shah and his staff.
The other four founders are still involved with the company, according to a statement from PharmEasy. They remain board members and observers and align their ownership for the long term. They intend to become less involved in active daily executive duties.
Well Planned Move by Founders
The new team has reached operational cash flow break-even, which has pleased the founders, who have been working on this transition for a few quarters. According to Siddharth Shah’s remark, the team is still doing a good job of handling all of its responsibilities. In March 2024, the founders informed Shah and the board that they wanted to launch their own business, according to media sources. The new business is unrelated to PharmEasy and operates in a non-competitive market.
One percent or less of the corporation is owned by each of the founders. In 2015, PharmEasy was founded. Nonetheless, the founders’ overall ownership ranges from 10% to more. The business has raised $688 million in total. In 2021, $300 million was raised in the largest investment round. After great effort, the company managed to raise INR 1,300 crore from Manipal Group member Ranjan Pai in 2023. Pai’s contribution is a component of the company’s INR 3,500 crore rights issue fundraising campaign.
However, PharmEasy’s valuation has significantly decreased in recent years from the $5.6 billion it brought in in 2021. Temasek, TPG, Prosus, B Capital, GSV, and Think Investments are some of the investors in PharmEasy.
Non-banking financial firm (NBFC) Bajaj Finance and telecom giant Bharti Airtel have launched a strategic alliance to provide its clients with digital financial services. The two businesses asserted in a joint statement that the partnership will open the door for the development of the biggest financial services digital platform in India. The telecom giant will first make Bajaj Finance’s financial solutions available on its Airtel Thanks app as part of the cooperation. After that, the telecom would also provide the 27 products offered by Bajaj Finance at its retail locations. A service pilot has already been started by the companies. The Airtel Thanks app currently offers two financial products, but by March of this year, four more will be available on the app: personal, business, and gold loans, as well as a co-branded “Insta EMI” card. By the end of 2025, Airtel intends to provide about ten of Bajaj Finance’s financial products.
Marking Phygital Presence in Financial Sector
Through this collaboration, Airtel and Bajaj Finance hope to increase the uptake of financial services and products by utilising their physical presence. According to the companies, the agreement will allow them to connect new users with the official financial system and access new-to-credit clients. According to the statement, both businesses are dedicated to providing seamless customer service, robust regulatory compliance, and data privacy and security as part of their cooperation. Additionally, the two will use artificial intelligence (AI) to “improve customer experiences and increase efficiencies.” The combined reach, scale, and distribution strength of the two businesses will be the foundation of this cooperation and aid in its success in the market, according to Gopal Vittal, managing director and vice chairman of Bharti Airtel. In addition to investing in and expanding the company, Airtel is establishing Airtel Finance as a strategic asset for the group. Rajeev Jain, MD of Bajaj Finance, commented on the agreement, saying that it not only uses India’s digital infrastructure for inclusive growth but also combines the reach and experience of two of the country’s most reputable and well-known businesses. In partnership with Airtel, Bajaj Finance aims to become India’s preferred financier and provide financial services to millions of people, especially in rural areas.
Growing Nexus of Fintech Market
In an effort to take advantage of the rising demand for online financial services, an increasing number of Indian conglomerates are entering the fintech space. Reliance is also engaged in the pursuit of a portion of the fintech market through Jio Financial Services. Fintech ventures received 21% of the $12 billion in funding that Indian entrepreneurs raised in 2024, demonstrating the magnitude of the industry. Last year, the industry closed 162 agreements totalling $2.5 billion. By 2030, the domestic fintech ecosystem is expected to reach a $2.1 trillion market potential, according to various media reports.
On January 20, foodtech giant Zomato released its financial results for the third quarter (Q3) of the fiscal year 2024–2025 (FY25). 57% Profit Slumps in Q3 of FY25: The foodtech giant’s consolidated net profit fell 57.2% to INR 59 Cr from INR 138 Cr in the same quarter the previous year. Profit fell 66% sequentially from INR 176 Cr in Q2 of FY25. Among the main causes of the drop in the bottom line were a slowdown in the food delivery market and an increase in Blinkit’s adjusted EBITDA loss as a result of growing competition in rapid commerce. According to Akshant Goyal, Zomato’s chief financial officer, the company’s rapid commerce division would continue to lose money in the foreseeable future. As the company keeps expanding its locations, its networks might have to handle more underutilised stores, which will affect short-term earnings in the upcoming quarter or two. However, these investments will also probably keep Gross Order Value (GOV) growth far over 100%, at least in FY25 and FY26.
Financial Outlook of Zomato
In the meantime, Zomato‘s operational revenue increased by more than 64% to INR 5,405 Cr in the reviewed quarter, up from INR 3,288 Cr in the same period the previous year. It increased 12.6% sequentially from Q2 FY25’s INR 4,799 Cr. With ESOP expenses excluded, Zomato’s consolidated adjusted EBITDA increased 120% year over year (YoY) to INR 285 Cr in Q3 FY25. This was mostly due to gains in the food delivery adjusted EBITDA margin (as a percentage of GOV), which increased from 3% to 4.5% during the reviewed quarter. From INR 2,062 Cr in Q3 FY24 to INR 2,413 Cr in Q3 FY25, the segment’s adjusted revenue increased by 17%. In Q3 FY25, the food delivery vertical’s GOV increased 17% year over year to INR 9,913 Cr.
The company had anticipated 20%+ YoY GOV growth, which this GOV growth fell just short of. Additionally, the food delivery GOV climbed 2% sequentially, which was less than the 5% sequential rise in Q2 FY25. Rakesh Ranjan, the CEO of Zomato’s food delivery division, provided an explanation for the slowdown in the food delivery vertical. He stated that Zomato is currently seeing a widespread slowdown in demand that began in the second part of November. Despite the present slowdown, the company is optimistic that it will soon recover and is still confident in the long-term outlook of 20%+ yearly GOV growth in the industry due to the solid foundations.
The Sustainability of the 10-Minute Food Delhivery
In December 2024, Blinkit released Bistro, a 10-minute meal delivery app. Later this month, Zomato also launched a delivery service called Bistro that takes 15 minutes.
Zomato CEO Deepinder Goyal commented on this emphasis on meal deliveries that take ten to fifteen minutes, stating that research indicates that reducing delivery times generates additional demand for restaurant food and results in “meaningful expansion” of the platform’s demand.
“We think deliveries of ten to fifteen minutes can result in something like.” According to Goyal, “This is also the reason we tried Zomato Instant, but we were unable to identify the best business plan and had to shut it down.”
According to him, the goal of the Bistro is to appeal to the sizable “in-office market,” which demands easy access to meals, snacks, and drinks in ten to fifteen minutes. Although he acknowledged that vending machines and on-site vendors currently serve this market, he said that the current food delivery solutions do not fairly serve people across geographic areas. However, Zomato is presently working to determine whether Bistro is a good fit for the market.
In order to create a proof of concept, Bistro is building infrastructure and collaborating with chefs, producers, food experts, and eateries. “The company hopes that this platform could be replicated by different restaurants and cuisine types where demand exists,” Goyal continued, adding that if the brand is successful in finding product-market fit and profitability.
Payment aggregators Razorpay and Cashfree also intend to end all third-party collaborations and integrations with payment orchestration systems like Juspay in response to PhonePe’s lawsuit. Cashfree intends to stop using third-party routers and orchestrators for integrations. According to a statement from a Cashfree Payments representative, the brand can expedite feature release and provide better support and merchant experience by providing direct integration. According to a statement from Razorpay, it will stop integrating with any third-party payment orchestration systems and instead provide its clients with payment gateway services via direct integrations. Razorpay will halt all integrations via third-party routing services going ahead. Through its own direct integrations, the business will provide payment gateway services to our clients. According to a Razorpay representative, the company feels that direct integrations are the only way to guarantee that its most recent innovations quickly reach its clients and improve their operations and experiences.
Pine Lab Continuing with the Collaborations
Pine Labs, a provider of digital payment solutions, seems to have remained loyal to Juspay and stated that it will keep collaborating with other orchestration service providers. Collaboration and open architecture are crucial in the technology industry. Amrish Rau, the founder and CEO of Pine Labs, told a media outlet that the company will keep promoting this and that its online platform will keep collaborating with other orchestration platforms to give customers and merchants the greatest possible experience. Online retailers may handle several bank agreements using a single payment gateway thanks to payment orchestration solutions. In short, based on their greater success rate at the moment, these systems enable a merchant to route transactions to the appropriate payment aggregator. Sheetal Lalwani, the chief operating officer (COO) and cofounder of Juspay, informed a well-known media site that the two platforms’ exit will not affect the company’s operations. He claimed that merchants are the source of the company’s income and that some payment aggregators are depriving their clients of options.
The construction of a full-stack payment system by Juspay to handle payments for the Open Credit Enablement Network (OCEN) and other commercial payment use cases was covered by a media outlet on December 14, 2023. Sheetal Lalwani, a co-founder of Juspay, had previously stated that he would not go up against other payment aggregators directly.
Why Payment Aggregators Are Shifting Business Operations?
A month prior, the digital payments juggernaut PhonePe allegedly ended all third-party integrations and agreements with payment aggregators, including Juspay. The move, according to PhonePe at the time, would allow it to control the whole value chain and reduce reliance on external parties. Although they are still in the early phases, Razorpay and Cashfree have also developed their own orchestration platforms, Optimiser and FlowWise, respectively. Vimal Kumar and Ramanathan RV founded Juspay in 2012, and Lalwani joined them later. Juspay is a technological platform that integrates payment gateways to give merchants an enterprise-grade, end-to-end, secure, and dependable payment stack.
StartupTalky presents Recap’24, a series of exclusive interviews where we connect with founders and industry leaders to reflect on their journey in 2024 and discuss their vision for the future.
The corporate gifting industry in India is gaining great popularity, with an increasing demand for unique, sustainable, and personalised solutions. A standout name in this space is Consortium Gifts, which has been redefining how businesses connect through thoughtful gifting since 1999.
In this edition of Recap’24, we spotlight Gaurav Bhagat, Managing Director and Founder of Consortium Gifts. From starting with a modest investment to building one of India’s leading corporate gifting companies, Bhagat shares insights into the brand’s journey, key milestones, and his vision for the future of corporate gifting.
StartupTalky: What inspired you to start Consortium Gifts in 1999, and how would you describe the company’s core services and offerings?
Mr. Bhagat: Back in 1999, it wasn’t inspiration—it was desperation. My family was facing a financial crisis, and I knew I had to act. Armed with just Rs. 10,000 drawn from a credit card and working out of my home with no staff, I set out to create a business that could make a difference. Fast forward 25 years, Consortium Gifts is now one of India’s leading gifting and promotional companies, serving industry giants like Microsoft, Amazon, Coca-Cola, and EY.
Our core services are centered on providing innovative, personalized gifting solutions tailored to the needs of global brands. Whether it’s creating memorable corporate giveaways, celebrating milestones, or enhancing employee engagement, our offerings are designed to build stronger connections. By blending sustainability, cutting-edge trends, and cultural relevance into our products, we’ve consistently delivered value that resonates across audiences.
StartupTalky: Your experience as a sales coach and Grant Cardone licensee is remarkable. How has it influenced your leadership style and the company’s growth strategy?
Mr. Bhagat: My journey as a sales coach and Grant Cardone licensee has profoundly shaped my leadership style and the company’s growth trajectory. Learning from one of the world’s top sales trainers taught me the power of 10X thinking—setting audacious goals and executing them with discipline and focus. This mindset has not only transformed how I lead but also how I inspire teams to embrace challenges and exceed expectations.
For Consortium Gifts, these lessons have translated into a bold growth strategy. For instance, we’ve leveraged data-driven insights to predict client needs, which has improved our client retention by 35% in the last three years. Moreover, Grant Cardone’s emphasis on scaling big has guided us in exploring untapped markets across Asia and beyond, contributing to our 20% year-on-year revenue growth.
What truly sets my leadership apart is a relentless focus on skill-building and adaptability. In today’s dynamic business landscape, 90% of leaders believe that agility is critical for sustained growth, and this has been at the core of how we operate. With every milestone, I’ve learned that leadership isn’t about being the smartest in the room; it’s about empowering others to achieve extraordinary results.
StartupTalky: With over 300 clients, including brands like BMW, Coca-Cola, and Deloitte, how does Consortium Gifts maintain high-quality and personalised services at scale?
Mr. Bhagat: With a client roster that includes BMW, Coca-Cola, and Deloitte, delivering high-quality and personalized services at scale requires a strategic mix of expertise, innovation, and collaboration. We achieve this by focusing on predictive client engagement—using data analytics to anticipate needs and create solutions proactively. For example, our AI-driven customization tools have increased order accuracy by 40%, ensuring each client receives precisely what aligns with their vision.
Leadership within IGC Global Promotions, a network of 41 top-tier gifting companies worldwide, gives us a unique advantage. Through this collaboration, we stay ahead of global trends and introduce products and ideas tailored to diverse cultural preferences. This approach has been pivotal in addressing the evolving expectations of corporate gifting in markets as varied as Europe, Asia, and the Americas.
To maintain quality, we also prioritize sustainability and innovation. In 2024, over 60% of corporations have shifted to eco-friendly gifting, and we’ve led this transformation by sourcing from ethical suppliers and introducing products like biodegradable tech accessories. Ultimately, our commitment to detail ensures that every gift reinforces the brand identity of our clients, making it memorable and meaningful.
StartupTalky: How do you determine which corporate gifting products will resonate with different industries and clients?
Mr. Bhagat: Determining the perfect corporate gifting solutions for different industries and clients is both an art and a science. Our consultative approach honed over 25 years, starts with asking the right questions—understanding our clients’ objectives, target audience, and brand ethos. This allows us to recommend products that aren’t just functional but leave a lasting impression. For instance, data shows that personalized gifts increase brand recall by 70%, and we’ve embedded personalization into nearly 80% of our offerings.
We also leverage industry-specific insights. For tech clients, innovative gadgets and sustainable tech accessories resonate, while in the luxury sector, premium leather goods and exclusive experiences are preferred. Staying ahead of market trends is essential; with the global corporate gifting market expected to hit $310 billion by the end of 2024, our team uses data analytics to predict trends and ensure relevance.
What truly sets us apart is the longevity of our relationships—some spanning over 20 years. This consistency reflects our ability to evolve with our clients’ needs and deliver solutions that amplify their investment.
StartupTalky: How does Consortium Gifts customise its products to meet diverse client requirements, and what role does technology play in this process?
Mr. Bhagat: At Consortium Gifts, customization is driven by a deep understanding of client needs and the latest technological advancements. We use state-of-the-art techniques like direct-to-fabric printing and UV printing for hard goods, which allows us to deliver exceptional quality and vibrant designs that align perfectly with brand identities. This has helped us achieve a 40% faster turnaround time on large-scale orders, something that our clients deeply value.
Our commitment to innovation goes beyond traditional methods. We constantly scout global trade shows in the U.S. and Europe to stay ahead of emerging trends. Recently, we’ve integrated 3D printing and rapid prototyping, which enables us to quickly bring conceptual designs to life and test them before full-scale production. This technology has not only improved the speed and accuracy of our customizations but also increased client satisfaction, with 95% of our clients reporting higher engagement with our tailored products.
Ultimately, technology empowers us to offer highly personalized solutions at scale. By blending these innovations with a client-focused approach, we’re able to continuously meet the unique demands of our diverse clientele while ensuring exceptional quality and precision.
StartupTalky: As the sole South Asian member of IGC Global Promotions, how has this partnership strengthened your global presence?
Mr. Bhagat: Since joining IGC Global Promotions in 2017 and stepping into the role of chairman in 2024, Consortium Gifts has been able to enhance its global presence significantly. Being the only South Asian member of this prestigious network has opened doors to exclusive opportunities across 40+ countries. The monthly online collaborations and biannual in-person meetings with industry leaders and stakeholders allow us to not only stay ahead of the curve but actively shape the future of corporate gifting.
This global partnership has allowed us to tap into regional trends, customer preferences, and best practices from diverse markets, ensuring that we offer uniquely tailored solutions. As a result, we’ve expanded our reach into key international markets, with exports now accounting for 25% of our total business. The insights gained from such a vast network have been invaluable in refining our products and services, empowering us to cater to the diverse needs of global brands and maintain our competitive edge.
StartupTalky: What new trends and opportunities do you see for the corporate gifting industry in the next 2-3 years?
Mr. Bhagat: The corporate gifting industry is poised for exciting growth in the next 2-3 years, driven by evolving consumer preferences and technological advancements. One major trend is the explosive rise of print-on-demand services. As companies look to reduce inventory costs and streamline logistics, print-on-demand solutions are expected to grow by over 40% annually, allowing businesses to offer highly personalized, on-demand gifts without the risk of overproduction.
Sustainability will also be at the forefront, with eco-friendly products gaining significant traction. Items made from recycled steel, aluminum, and even fabric made from ocean waste are gaining popularity, driven by both consumer demand and corporate social responsibility goals. According to recent data, 78% of consumers prefer brands that prioritize sustainable products, which is prompting companies to invest in eco-conscious gifting options. We’re particularly excited about the potential of these materials to not only reduce waste but also deliver premium, high-quality products.
With the demand for customized, sustainable products at an all-time high, the corporate gifting sector is set to become even more dynamic, offering brands the chance to make a positive environmental impact while strengthening customer and employee relationships.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Mr. Bhagat: At Consortium Gifts, we adopt a 360-degree marketing approach, blending both offline and digital strategies to reach and engage our audience effectively. On the offline front, events and sponsorships have played a pivotal role in strengthening our brand presence. Whether it’s participating in major industry events or hosting exclusive gatherings, these interactions allow us to directly connect with our clients and prospects, building trust and long-lasting relationships.
In the digital space, we leverage every channel available. From social media campaigns and live webinars to interactive contests and podcasts, we ensure our brand is omnipresent. For instance, our recent podcast series saw a 30% increase in listener engagement, reflecting the growing demand for valuable, insightful content. Moreover, we’re heavily invested in public relations—something we realized years ago is just as important as the product itself. The idea is simple: you could have the best product in the market, but if you’re not well-known, it doesn’t matter.
As for a growth hack, one of our most successful strategies was an exclusive, time-limited offer for our corporate clients during key gifting seasons, combined with personalized consultations. This not only generated a 25% increase in sales within two weeks but also strengthened customer loyalty by providing tailored solutions. The key takeaway? Combining personalization with urgency can drive significant results in a short time.
We’re all-in on marketing because we understand that visibility and meaningful connections are the foundation of growth.
StartupTalky: What is your approach to building and maintaining strong partnerships with your suppliers and shipping partners like FedEx, UPS, and DHL?
Mr. Bhagat: We treat our suppliers and shipping partners like an extension of our team. The logistics landscape, especially with key partners like FedEx, UPS, and DHL, is critical to delivering on our promises to clients. One of the cornerstones of our approach is building long-term, transparent relationships based on reliability, performance, and shared goals. We ensure our partners are involved from the beginning, collaborating closely to align on everything from seasonal demand spikes to customized delivery requirements.
In recent years, we’ve focused on developing joint strategies to address global shipping complexities, particularly with the rise of e-commerce and international expansion. For instance, our seamless integration with DHL’s global network has allowed us to improve international delivery timelines by 15% in 2024, making us more responsive to our global clients. Additionally, we’ve established contingency plans with UPS to mitigate risks during peak seasons, ensuring that client orders are never delayed, no matter the challenges.
What sets us apart is our focus on data-driven decisions. By utilizing advanced analytics and real-time tracking, we ensure our partners are always equipped to meet the dynamic needs of our business. We are constantly refining these systems to improve operational efficiency and deliver superior customer service.
StartupTalky: What were the most significant challenges for Consortium Gifts in 2024, and how did you overcome them?
Mr. Bhagat: 2024 was a phenomenal year for Consortium Gifts, and I can honestly say we were fortunate not to face any major challenges. In fact, it turned out to be our best year yet, marked by significant wins and the laying of a solid foundation for an even bigger 2025. We experienced substantial growth, particularly in the premium gifting sector, which continues to see an increase in demand across industries.
That said, like any successful journey, we did face a challenge that taught us valuable lessons. Some brands we represented were undercutting us on price and not maintaining consistent pricing across different channels. This presented not just a business challenge but also a learning opportunity. We realized the importance of having a strong, in-house product portfolio, which allows us to maintain control over quality, pricing, and brand integrity.
By focusing on curating and expanding our in-house product offerings, we were able to shield ourselves from the volatility of external price fluctuations. This strategic move is already paying off and has positioned us for even greater growth in the upcoming year.
StartupTalky: What are your plans for Consortium Gifts in 2025 in terms of innovation, global expansion, and enhancing the customer experience in the corporate gifting industry?
Mr. Bhagat: 2025 is poised to be a transformative year for Consortium Gifts as we scale new heights in innovation, global expansion, and customer experience. Our immediate focus will be on strengthening our footprint across five major Indian cities, with Hyderabad, Bangalore, Pune, and Mumbai at the forefront of our expansion strategy. Additionally, we are set to move into a state-of-the-art, 40,000-square-foot facility in the NCR, which will serve as a hub for creativity, sustainability, and operational excellence.
On the product front, we’re gearing up to surprise our clients with groundbreaking innovations designed to redefine corporate gifting. Sustainability remains a cornerstone of our approach, with plans to launch eco-friendly gifting solutions that include materials like recycled steel, aluminum, and ocean-waste fabrics, aligning with the growing global demand for green practices. Studies show that 78% of consumers are more likely to engage with brands that prioritize sustainability—a trend we are fully embracing.
We’re also investing in cutting-edge branding technologies to deliver unparalleled customization and exploring advancements to shorten turnaround times without compromising on quality. With these plans in motion, 2025 is not just a year of growth but a year of delivering an elevated experience for our clients while contributing meaningfully to the corporate gifting industry.
StartupTalky: As a founder, what advice would you give to aspiring entrepreneurs looking to enter the corporate gifting or B2B industry?
Mr. Bhagat: The corporate gifting and B2B space has evolved drastically over the past 25 years. When I started, the market dynamics were different—today, the entry barriers are significantly higher due to factors like stringent compliance requirements, substantial capital investment, and the need for robust infrastructure. However, the rise of technology and e-commerce platforms has opened doors for niche players to carve out a space for themselves, even in a competitive environment.
My advice to aspiring entrepreneurs is simple: start small but think big. Test your ideas thoroughly, identify a niche, and focus on delivering exceptional value. Once you’ve validated your proof of concept, aim to scale strategically. As Grant Cardone says, move from ‘Tiny to 10X’ by leveraging technology and customer insights to drive exponential growth. For instance, the global corporate gifting market is projected to reach $350 billion by 2025, driven by trends like personalized, sustainable gifting—an area ripe for innovation.
Lastly, don’t underestimate the importance of building strong relationships. In a B2B industry, trust and reliability are paramount. Combine these principles with the agility to adapt to market trends, and you’ll be well-positioned to succeed in this dynamic space.
In our daily lives, making bill payments and transactions used to rely solely on handling cash. Nonetheless, the shortcomings of cash-based techniques have been brought to light by the changing needs of the market and the move towards digital transactions.
Enter Paytm, an innovative digital payment app that has been available in India since 2010 and has completely changed the way that transactions and bill payments are made. Paytm, a smooth substitute, has been important in the transition to digital financial transactions, signifying a noteworthy turning point in India’s payment history.
In this article, we will delve into the successful journey of Paytm, its founder, history, business model, funding, acquisitions, competitors, and more.
Vijay Shekhar Sharma launched Paytm, a well-known provider of digital payments and financial services. Paytm was initially designed to make online money transfers easier for consumers and businesses alike, but it has gradually expanded its services. Later, it offers financial services, eCommerce capabilities, and cell and DTH recharging assistance. Indians have come to love this platform since it is so convenient and easy to use. Paytm company was established in 2010.
With the goal of assisting Indian app developers and entrepreneurs, Paytm has expanded its offerings over time to include stockbroking, the National Pension System (NPS), Paytm First Games, Paytm Insurance, and a mini app store. Paytm’s dedication to provide its users a wide range of easily accessible financial products is reflected in this expansion.
Paytm – Industry
According to a Statista study report, the fintech industry in India with the biggest growth potential is expected to be investment tech, which is expected to develop at a rate of 30% between 2022 and 2030. The financial software as a service industry is projected to grow at a Compound Annual Growth Rate (CAGR) of 27% during the same time frame. Based on an informative analysis by Statista, the country’s fintech business is expected to be valued at over $2 trillion USD in 2030, indicating a dynamic and booming ecosystem.
Paytm – Founder and Team
Paytm was founded by Vijay Shekhar Sharma in 2010.
Vijay Shekhar Sharma Co-Founder and CEO of Paytm
Vijay Shekhar Sharma
Vijay Shekhar Sharma, the founder and CEO of Paytm, made significant strides in the business world, earning recognition and accolades for his entrepreneurial prowess. In 2017, Forbes named him the youngest billionaire in India, putting his net worth at $1.3 billion. A notable winner of the Uttar Pradesh government’s highest civilian award, the Yash Bharati, Sharma cemented his standing in the corporate world. He was listed as the 62nd richest person in India by Forbes in 2020.
Vijay Shekhar Sharma started his academic career at Delhi College of Engineering, where he studied electronics and communications for his B.E. His career path led him through roles such as Business Development at RiverRun Software Group and Tech Head at India Today Group Online. Eventually, he founded One97 Communications Limited, the parent company of Paytm, and further expanded his influence by founding Paytm Payments Bank.
Sharma’s impressive career path highlights his business savvy and enduring influence on the financial technology scene in India.
Vijay Shekhar Sharma’s entrepreneurial journey commenced in Aligarh, where his middle-class upbringing instilled determination and resilience. Vijay was educated in Hindi, so he had to overcome a language barrier. Nevertheless, he performed well academically and was accepted to Delhi College of Engineering, where he eventually received a B.E. in Electronics and Communications Engineering.
Vijay’s entrepreneurial journey began when he created indiasite.net while still a college student in 1997. His ambition persisted even after selling the website after two years. He established One97 Communications in 2000 and provides services for mobile content. This business endeavor served as an introduction to Paytm, which began operations in 2010 in Noida with a $2 million initial investment. Under Vijay’s inspiring direction, Paytm quickly changed from a distributor of mobile entertainment to a pioneer in digital payments in India.
Vijay Shekhar Sharma’s startup story not only encapsulates his personal journey of overcoming challenges but also mirrors the transformative growth and impact of Paytm on India’s fintech landscape.
Paytm – Mission and Vision
Mission: The company mission on its website is “We will bring Half-a-Billion Indians to the Mainstream Economy.”
Vision: The company vision is to become India’s leading payments App.
Paytm – Name, Tagline, and Logo
Paytm Logo
Paytm is a venture under the umbrella of its parent company, One 97 Communications.
Paytm – Products and Services
Paytm Mall Launch (February 2017): Paytm introduced Paytm Mall in February 2017 as part of a calculated effort to break into the eCommerce space. Alibaba provided an initial $200 million capital infusion to Paytm Mall, which was then able to maintain steady backing from Ant Financial and Alibaba in order to strengthen the Paytm wallet.
Contactless In-Store Ordering Innovation (April 2020): Paytm introduced the concept of ‘contactless in-store ordering’ to promote minimal physical contact in the wake of the COVID-19 pandemic. This initiative aimed to redefine the retail experience and enhance safety measures.
Paytm Contactless Ordering
Mini App Store Introduction (October 5, 2020): In an attempt to counter the Google Play Store’s hegemony in the digital space, Paytm launched a micro app store to assist Indian app developers and entrepreneurs.
Card SoundBox Design Launch (July, 2023): Paytm unveiled the Card Soundbox, a revolutionary device empowering merchants to seamlessly accept mobile and card payments across various networks, including Visa, Mastercard, American Express, and RuPay. The device simplifies transactions with a convenient ‘tap and pay’ feature, showcasing Paytm’s commitment to innovative payment solutions.
Pioneering India’s QR and mobile payments revolution, Paytm’s business model centers on advancing financial inclusion through a broad spectrum of payments and financial services. The key components of this model can be summarized as follows:
Comprehensive Payments Ecosystem: The core of Paytm’s business model is to attract merchants and customers by offering a wide range of payment options. With UPI acting as a low-cost acquisition channel, the platform cross-sells high-margin banking and merchant services by utilizing insights.
Empowering Customers: In addition to Paytm Payment Instruments, Paytm offers a variety of third-party payment choices, such as cards and online banking, to empower its users. They make it easier to pay for things online, promoting convenience with the Paytm app and allowing QR code-based in-store and third-party app transactions.
Subscription-Led Ecosystem for Merchants: Paytm provides its partners with technology tools so they may take payments using a variety of methods. Reconciliations are made easier by subscription-based devices, and beginning merchants can accept payments using a free mobile QR code, mostly using Paytm Payment Instruments or UPI.
Merchant Growth Through Platform Engagement: When customers use the platform’s payment options, it encourages merchants to sign up as well, which feeds back into itself and results in a high volume of repeat business. Significant consumer stickiness and retention are fueled by this combination.
Paytm – Revenue Model
Paytm generates revenue through a diversified set of streams, some of the prominent one are listed below:
Profitable UPI Use: Paytm makes money through the widely-used Unified Payments Interface (UPI).
Monetization avenues: Paytm makes money on its platform through selling of loans and payment devices, as well as from subscription revenue, payment processing fees, and marketing services it offers to other companies via its Commerce and Cloud business.
Co-Branded Credit Cards: Co-branded credit card partnerships with banks such as SBI and HDFC generate income from upfront distribution and lifetime usage fees.
Diverse Revenue Streams: Paytm’s strong business strategy guarantees profits from non-UPI and UPI transactions, resulting in a steady and stable flow of income.
Paytm – ESOPs
As of August 15, 2021, 166 former and current workers of Paytm who exercised their options under the ESOP Scheme 2008 and ESOP Scheme 2009 have received approximately 10,11,582 equity shares valued at Rs 189 crore. This action is a component of Paytm’s continuous dedication to appreciating and thanking its employees. Employee incentives were further enhanced by the company’s May 2022 grant of stock options valued estimates at Rs 222 crore under the ESOP plan.
Furthermore, Paytm revealed the granting of 17,06,829 stock options through the ‘One 97 Employees Stock Option Scheme 2019’ to eligible employees. By providing perks to qualified workers, this program seeks to increase their involvement in the expansion of the business.
Based on the stock prices of One97 Communications of July, 2023, Fintrackr has estimated that the total value of the new ESOPs given by the company is around Rs 145 crore. Paytm’s attempts to promote employee involvement and connect their interests with the company’s long-term development are in line with this strategic allocation of equity shares.
Paytm – Challenges Faced
Paytm has encountered a series of challenges as it sought to reshape the cultural landscape of India, where both internet access and smartphones were once deemed unaffordable. The company has faced hurdles included critical issues such as transaction glitches, advertising missteps, and even a trademark infringement case against the Paytm brand.
In 2018, Paytm faced a significant challenge when its e-commerce arm, Paytm Mall, allegedly experienced a major data breach on August 30. Firefox Monitor reports state that the hacked data included sensitive information such phone numbers, email addresses, and dates of birth for approximately 3.4 million clients. However, according to reports dated July 28, 2022, Paytm denied these allegations and insisted that all users’ data was secure.
On September 18, 2020, the Google Play Store abruptly removed the Paytm app, purportedly for breaking rules regarding unlicensed gambling apps.
As for 2022, on August 1, 2022, reports surfaced that three Paytm employees had burned PhonePe QR codes in bulk. This presented a new challenge. PhonePe responded by reporting the incident to the police.
When the Reserve Bank of India (RBI) ordered Paytm Payments Bank to stop accepting new clients owing to supervisory concerns, the bank faced a major obstacle in the regulatory environment of 2022.
Ultimately, Paytm made strategic steps to optimize costs in 2023 in response to financial concerns. On December 25, 2023, a news source stated that the corporation has started a workforce reduction program, with at least 1,000 employees being let go from a variety of divisions. This action showed the company’s dedication to solving problems by maximizing staff expenses.
In the wake of the Reserve Bank of India’s proceedings against Paytm Payments Bank, Paytm is facing regulatory issues. Because of continuous non-compliance and supervisory concerns, the RBI has prohibited fresh deposits from March 15, 2024, as per news report of February 18, 2024. This emphasizes how important it is for the fintech industry to follow regulations.
Paytm – Funding and Investors
The company has raised funding of around $3.54 billion over 15 rounds of funding.
Here are some of the most prominent funding rounds for Paytm:
Date
Stage
Amount
Investors
November 2019
Series G
$1 billion
T Rowe Price
August 2018
–
$356 million
Berkshire Hathaway
February 2017
Funding Round
$29.64 million
Vijay Shekhar Sharma
March 2015
Secondary Market
–
–
February 2015
Private Equity Round
–
–
January 2014
Series A
–
–
Paytm – Investments
Paytm has invested in 19 companies to date. The Indian fintech unicorn further revealed on May 21, 2022, that it would be investing a total of Rs 950 crore in Paytm General Insurance Limited (PGIL) in multiple tranches over the next 10 years.
Here’s a list of the prominent investments in Paytm:
Company Name
Funding Amount
Funding Round
Lead Investor
Date
Fable Fintech
–
Series A
–
June 2, 2021
Rooter
$1.7 million
Seed Round
Yes
May 4, 2020
HungerBox
$12 million
Series C
–
December 17, 2019
Infinity Infoway
–
Corporate Round
Yes
December 3, 2019
HungerBox
$8.1 million
Series C
–
August 20, 2019
TapChief
$650K
Seed Round
–
June 26, 2019
HungerBox
$15 million
Series C
Yes
May 27, 2019
Paytm Entertainment
$9 million
Venture Round
Yes
June 26, 2018
Paytm Money
$1.3 million
Venture Round
Yes
June 6, 2018
Paytm Payments Bank
Rs 122 crore
Venture Round
–
November 23, 2017
Exit
The company has exited from four companies: Little, CreditMate, TapChief, and AbhiBus.
Paytm – Acquisitions
Here are the notable acquisitions made by Paytm:
Acquired
Date
Amount
CreditMate
October 4, 2021
–
Balance
August 9, 2018
–
NightStay
July 3, 2018
$20 million
Cube26
June 19, 2018
–
TicketNew
May 23, 2018
$40 million
Nearbuy
November 13, 2017
–
Little
November 13, 2017
–
Insider.in
June 20, 2017
$5.42 million
Shopsity
November 11, 2016
–
Edukart
September 26, 2016
–
Paytm – Growth
Since its establishment in August 2010, Paytm has firmly established itself as the most popular payments app in India, routinely ranking among the top UPI apps in the nation.
Furthermore, as per the company’s records with the Registrar of Companies, Paytm has rebranded itself as “Pai Platforms” in a calculated move, according to news dated February 9, 2024. This development is consistent with the company’s resolve to innovate and adjust to the changing Indian digital market environment.
Some of the prominent company’s growth highlights are:
Paytm monthly active users surpasses 10 crore as per the news report of January 23, 2024.
As of January 2024, Paytm boasts over 300 million wallets and 30 million bank accounts, reflecting widespread adoption.
Paytm revealed that merchants’ Gross Merchandise Values (GMV) increased by an astounding 39% year over year to Rs 1.47 lakh crore as per news report of August 2023.
Merchant subscriptions experienced substantial growth, reaching 82 lakh, with an addition of 41 lakh new subscriptions as per news report of August 2023.
The number of monthly users on the platform increased significantly by 19%, to an astounding 9.3 crore as per news report of August, 2023.
The user base of Paytm exceeded 58 million account holders as of March 2022, highlighting its continuous growth and popularity in the digital payments landscape.
Paytm became India’s first payment app to cross 10 crore app downloads in 2017, which was a major milestone.
Paytm Quarterly FY25 Financials
Paytm Quarterly FY25 Financials
Q3FY24
Q3FY25
Operating Revenue
INR 2850 crore
INR 1828 crore
Total Expenses
INR 3216 crore
INR 2220 crore
Profit/Loss
INR -222 crore
INR -208 crore
Paytm Quarterly FY25 Financials
In Q3FY25, Paytm reported an operating revenue of INR 1828 crore, down from INR 2850 crore in Q3FY24. Total expenses also reduced from INR 3216 crore to INR 2220 crore. As a result, net loss improved slightly from INR 222 crore in Q3FY24 to INR 208 crore in Q3FY25.
According to the news report of January 19, 2024, the company’s income from operations increased by 13.2% to INR 2,850.5 crore in the third quarter of the fiscal year that ends in March 2024, from Rs 2,518.6 crore in Q2 FY24. When compared to Rs 2,062.2 crore in Q3 FY23, the operating revenue grew by 38.2%.
Comparing Q3 FY24 to Q2 FY24, the company’s overall expenses increased to INR 3,216.3 crore from INR 2,936.7 crore. Interestingly, Paytm’s losses in Q3 FY24 dropped to INR 221.7 crore from INR 291.7 crore in Q2 FY24, a 24% decrease.
Expenses Breakdown FY22-FY23
Paytm Expenses Breakdown
FY22
FY23
Payment Processing
Rs 2,454 crore
Rs 2,958 crore
Employee Benefits
Rs 2,432 crore
Rs 3,788 crore
Marketing and Promotions
Rs 855 crore
Rs 1,076 crore
IT Infrastructure
Rs 500 crore
Rs 694 crore
Others
Rs 1,360 crore
Rs 1,624 crore
EBITDA FY22-FY23
Paytm FY22-FY23
FY22
FY23
EBITDA Margin
-38.95%
-14.54%
Expense/Rs of Op Revenue
Rs 1.53
Rs 1.27
ROCE
-15.67%
-12.66%
Paytm – Sponsorship
Paytm has emerged as the official sponsor of the 37th National Games, which took place at the Jawaharlal Nehru Stadium in Fatorda, South Goa, The competition was officially inaugurated by Prime Minister Narendra Modi.
“We are excited to be the official sponsor for the National Games in Goa. As pioneers of mobile payments in India, we have been working towards our mission to bring half a billion Indians into the mainstream economy. From our leadership in in-store payments, empowering merchants with digitalization of their business to enabling users with seamless and accessible payments, we are championing Digital India.” said Abhay Sharma, Chief Business Officer.
BCCI awards Paytm the company its title sponsorship rights for BCCI International and Domestic seasons between 2019 and 2023. However, Paytm asked to pull out of the deal, and Mastercard replaced Paytm, as per the reports dated July 26, 2022.
Paytm was the associate sponsor of the Sony TV network, which was awarded the telecast rights of IPL.
Paytm – IPO
One97 Communications, the parent company of Paytm, filed a draft red herring prospectus with the Securities and Exchange Board of India in July 2021, indicating its intention to begin an initial public offering (IPO), which was a big step toward becoming public.
Then, in November 2021, Paytm pulled off a successful IPO, raising a whopping Rs 18,300 crore (US $2.3 billion) and reaching a US $20 billion valuation. This accomplishment represented a turning point in the business’s history, demonstrating the trust of investors and adding to the changing Indian financial market environment.
Paytm – Value Proposition
Paytm’s primary service proposition was initially centered around recharging, which remains a prominent aspect of its business. Over time, the company diversified its services, introducing the Paytm Wallet, e-commerce vertical, Digital Gold, and more.
Paytm creates value for Merchants
The company adds value to businesses by providing a variety of digital payment methods, encompassing traditional options like debit and credit cards and innovative solutions like QR codes, email links, text messages, and its digital wallet. Additionally, Paytm supplies the necessary hardware for in-store purchases and integrates payment services into its Smart Retail platform, offering retailers a comprehensive solution for managing payments, analytics, inventory, and customer engagement.
Paytm creates value for individuals
Paytm garnered recognition for empowering customers to go cashless without the hassles of opening a bank account, generating value for consumers in a nation where cash payments have historically been the norm.
Paytm – Awards and Achievements
Paytm has won numerous accolades. Following is a list of a few of the well-known ones:
2012: Paytm received the ‘Most Innovative Startup of the Year’ Award from Franchise India.
2013: The company was recognized with the Knowledge Fabre Best Mobile Wallet Program Award.
2014: Paytm achieved ‘Gold Winner’ at the MMA Smarties in the Mobile App category and was the winner of the Indian Express IT Award.
2015: Paytm secured the Best Digital Wallet Award at IAMAI India Digital Award.
2016: Paytm was the winner of the FT Future of Fintech Award and also received the ET Brand Equity Most Trusted Brand of the Year.
2017: Paytm was honored with the Diamond SABRE Award in the Company of the Year category at SABRE Awards.
Paytm – Partnerships
October 22, 2018: Paytm has collaborated with Softbank Group and Yahoo Japan to launch its e-wallet service in Japan called PayPay.
Paytm was also announced as the official partner of the Mumbai Indians.
June 22, 2020: Paytm partnered with Tata Starbucks on June 22, 2020, which is a pan-India partnership for a contactless dining solution.
February 26, 2021: Paytm and Ola partnered with IndusInd Bank and applied to the RBI for the NUE license.
April 19, 2021: Paytm saw a partnership with the Life Insurance Corporation of India to help facilitate digital payments.
July 19, 2021: Paytm partnered with IndusInd Bank to enable payments from the fixed deposit accounts held by the users of the latter.
August 23, 2021: Paytm partnered with HDFC Bank to provide solutions across payment gateways, POS machines, and other credit products.
September 27, 2021: Paytm brings real-time international remittances into the Paytm mobile wallet by partnering with Ria Money Transfer.
December 3, 2021: Paytm partnered with PMS Bazaar with a view to helping manage the portfolio of HNIs, who have a minimum investment of Rs 50 lakh.
November 15, 2023: Paytm has partnered with Amadeus, and for the next three years, it will include the travel technology company’s platform into search, booking, and payment processes.
In August 2024, Zomato acquired Paytm’s movie and event ticketing business for $244.2 million (20.5 billion rupees). This deal allows Zomato to expand its services beyond food delivery into ticketing. Paytm customers can still use their tickets for current and future events.
Paytm, an Indian digital payments company, is focusing on strengthening its core payment business, using new technologies like AI, and rebuilding trust with investors and regulators. It plans to cross-sell financial services, apply for a payment aggregator license from the RBI, and focus on distributing financial services for long-term growth. Founder Vijay Shekhar Sharma emphasized a compliance-first approach for the company’s future success.
The company, known for its innovative financial services platform, is set to extend its footprint to the global market, signaling a significant leap in its reach and influence.
Notably, Paytm envisions not only broadening its geographical presence but also aspiring to become a leader in AI technology within the financial services sector.
FAQs
What is Paytm?
Paytm is an Indian digital payments and financial services company. It offers services like mobile payments, online shopping, ticket booking, and financial services such as loans and insurance. Founded by Vijay Shekhar Sharma, Paytm aims to simplify financial transactions for consumers and businesses.
Who is the current owner of Paytm?
Paytm is owned by the Indian company One97 Communications Ltd.
Is Paytm a Chinese company?
Paytm is an Indian company, but one of its major investors is Ant Financial, which is a major Chinese investor. Resilient Asset Management, wholly controlled by Vijay Shekhar Sharma, received a 10.3% shareholding in the Noida-based business from Ant Financial in 2023.
What is Paytm launch date in India?
Paytm was launched in 2010.
Why was Paytm banned?
Paytm was banned from the Play Store for allegedly violating its gambling policies.
Is Paytm for businesses free?
Yes, there are no charges for setting up your Paytm for Business account.
What is the Paytm CEO’s name?
The name of the Paytm CEO is Vijay Shekhar Sharma, who has been the founder and CEO of the company since it was founded back in 2010.
What is vision of Paytm?
Paytm vision is to become India’s leading payments App.
What is Paytm origin country?
Paytm is an Indian fintech company that specializes in digital payments and ecommerce and comes with the facility of digital wallets.
Paytm operates in how many countries?
Paytm currently operates in India, where the Paytm payments bank was founded, and in two other countries, namely Canada and Japan, as of now.
Which country made or developed the Paytm app?
Paytm is developed in India, and the development of Paytm and its processes happens internally. Therefore, even the Paytm app and numerous other things associated with the brand and its functioning are developed internally by the brand itself.
Is Paytm profitable?
In Q3FY25, Paytm reported an operating revenue of INR 1828 crore, down from INR 2850 crore in Q3FY24. Total expenses also reduced from INR 3216 crore to INR 2220 crore. As a result, net loss improved slightly from INR 222 crore in Q3FY24 to INR 208 crore in Q3FY25.
What are the countries where Paytm is available?
Though Paytm is an Indian company, it supports international payments from over 200 countries with the help of all major international cards, even without any additional API integration.
It may seem like a pleasant task to carve out time in our busy life to relax and keep up with the latest happenings, especially when our schedules are so full with activities and lengthy work hours. Nevertheless, even in the midst of all the activity, taking time for ourselves and keeping up with world events brings us a certain kind of happiness.
In addition to providing us with a chance to unwind, this activity keeps us aware of the environment around us and encourages participation and awareness even in the middle of our hectic schedules.
So, are you someone who used to read news articles daily but now is missing out on the most important news? Guess what Inshorts has a solution for you. They have built a news app that delivers news in under 60 words,with the most important information, and it has no room for opinion or narration.
In this article, we will delve into the story of Inshorts, its Founders, History, Tagline, Logo, Business Model, Funding, Revenue, Competitors, Growth, and more.
Inshorts – Company Highlights
STARTUP NAME
INSHORTS
Headquarters
Noida, Uttar Pradesh, India
Sector
Digital Media, Internet, Mobile App, News
Founders
Azhar Iqubal, Deepit Purkayastha, and Anunay Arunav
Inshorts, one of the most popular Indian news app aggregates news, infographics, and blog posts into a 60-word summary. It began as a Facebook page and was formed by 3 IIT dropouts in 2015. This firm is situated in Noida and specializes in information access and distribution. The app has been accessible to Android smartphones and iPhones.
Inshorts – Industry
As per Statista report, India’s digital newspaper and magazine market is expected to develop significantly, with revenues expected to reach US$1,128 million in 2025. This indicates a strong trajectory and presents a big opportunity for the sector.
The market is predicted to continue expanding strongly, with a compound annual growth rate (CAGR 2025-2029) of 3.41%, translating into a projected market volume of US$1,290 million by 2029. The continuous increase highlights the growing potential and importance of digital media consumption in India.
Inshorts – Founders and Team
Inshorts was founded by Azhar Iqubal (Co-Founder and Chairman), Deepit Purkayastha (Co-Founder and CEO), and Anunay Arunav in 2015.
Azhar Iqubal
Azhar Iqubal, Co-Founder and Chairman of Inshorts
The Co-Founder and Chairman of Inshorts, Azhar Iqubal, is a trailblazing businessman who began his career after quitting IIT Delhi’s Mathematics and Computer Science programs. His inspiring leadership has been crucial to the development and growth of Inshorts, a ground-breaking digital journalism platform. Azhar Iqubal, who served Inshorts as CEO for 11 years stepped down from his position in April 2024 after 11 years. He is now the company’s new chairman, while fellow co-founder Deepit Purkayastha took over as the new CEO.
Additionally, he has also joined Season 3 of Shark Tank India as a Shark, where his knowledge and experience are certain to have a big impact on the startup and investment worlds.
Deepit Purkayastha, Co-Founder and CEO of Inshorts
Deepit Purkayastha is a Co-Founder and CEO of Inshorts, a digital platform that revolutionized news consumption. After serving as the Chief Strategy Officer for around 11 years, he was appointed CEO. He holds a degree in Computer Science and Engineering, having completed both BTech and MTech from IIT Kharagpur. Additionally, he served as a Summer Research Scholar at Charles University in Prague and gained experience as a Summer Employee at Goldman Sachs.
Along with Azhar Iqubal and Anunay Arunav, began developing Inshorts during their last year at the institute. Deepit’s tech background and entrepreneurial spirit have been pivotal in reshaping how people access news in the digital age. He was the Chief Strategy Officer for about 11 years and now he is the CEO.
Anunay Arunav
Inshorts, Co-Founder of Inshorts
Anunay Arunav, Co -Founder of Inshorts, is an accomplished professional with a background in Integrated MTech in Mathematics and Computing from Indian Institute of Technology, Delhi. In addition to his academic successes, his internship at SparkTG has given him real-world experience.
Inshorts – Startup Story
The idea for Inshorts originated from the astute observations of three forward-thinking people who saw the rising gap between Indian youth and the conventional, long-form news formats. As a minimal viable product (MVP), they established a Facebook page with news summaries in the “Shorts” format, realizing the difficulties young people experience in keeping up with daily news.
The trio decided to take a risk by quitting education and dedicating themselves entirely to their new business after receiving encouraging feedback from the market and validation. 2015 saw the launch of Inshorts, an entrepreneurial venture that was greatly aided by a seed round of funding provided by Times Internet and a consortium of angel investors that included the Flipkart founders.
This marked the beginning of Inshorts’ remarkable trajectory in revolutionizing news consumption for the dynamic and fast-paced lives of the youth.
Inshorts – Mission and Vision
The mission of the company is to “provide seamless access to personalized and concise informative content locally and globally.”
The vision of the company is “to be the global leader in digital information delivery.”
Inshorts – Name, Tagline, and Logo
Inshorts Logo
The tagline of the company is stay informed. The parent company of Inshorts is Inshorts Group.
Inshorts – Products and Services
Inshorts products and services are listed below:
Inshorts App
The dynamic news app Inshorts distinguishes itself by selecting the most recent and pertinent news from a variety of domestic and international sources. Its distinctive method of distilling intricate tales into brief, readily absorbed 60-word summaries—tailored to each person’s tastes in Hindi or English—is what makes it stand out.
Because of its tailored content delivery, the app is a go-to source for timely and effective updates, keeping users informed without the burdensome aspect of traditional news consumption.
Public App
Public, the location-based social network, has rapidly achieved significant user growth within just six months of its beta launch, making it the fastest-growing Indian social app to reach this milestone. Because of the platform’s unique feature, users particularly those living in Tier II and Tier III cities—can record and share real-time local updates.
By producing a significant amount of films each month, Public encourages community involvement and gives people the tools they need to stay informed and connected. This incredible rise highlights how the app’s immediate, location-specific updates help to promote a sense of community and connectivity.
Inshorts – Business Model
Inshorts operates on a straightforward and effective business model centered around providing users with quick, engaging, and personalized news updates. The website compiles content from many sources and distills it into concise 60-word synopses featuring attention-grabbing headlines.
Given the contemporary difficulty of time limits, Inshorts wants to grab users’ attention and persuade them to dedicate a brief amount of time each day to their app. Because of the high level of user involvement, the app’s cleverly placed adverts are the main source of revenue. With a user-friendly layout, navigating the platform is a breeze, while customizable tools ensure that users receive news tailored specifically to their interests.
Inshorts make revenue from different sources; some of the most prominent ones are listed below:
Types of Advertising: To increase the variety of revenue streams, brands use display ads and sponsored content, among other forms of advertising on Inshorts.
Performance Metrics: Advertisers pay according to how well their campaigns perform, and metrics like impressions (views) and interactions (likes and shares) are important in gauging how effective their ads are.
Annual Contracts: In order to guarantee a consistent and predictable revenue flow for Inshorts, advertisers sign annual contracts.
Inshorts – Challenges Faced
Inshorts company encountered challenges in the evolving landscape of vertical video formats, being among the early adopters alongside giants like Facebook, Instagram, and Snapchat. Even though the first-mover advantage was significant, there were particular difficulties because of the growing demand for this ad style. At first, Inshorts struggled to innovate by trying to develop extensively without timely debuts.
As a result, they spent a year developing a product that was never marketed or published. They were cut off from market dynamics by this strategy, which made it clear how crucial it is to strike a balance between development initiatives and consumer demands. An important turning point came when they realized they were developing a service rather than a product, highlighting the necessity of strategically matching innovation with consumer needs.
Inshorts – Funding and Investors
Inshorts company has secured $164.9 million in funding across 9 rounds, with the latest round (Venture – Series Unknown) raised on July 15, 2021.
Here are the funding details:
Date
Stage
Amount
Lead Investor
Jul 15, 2021
Venture Round
$60 million
Vy Capital
Mar 23, 2021
Venture Round
$41 million
A91 Partners
Sep 30, 2020
Venture Round
$35 million
Addition
Dec 8, 2017
Venture Round
$5 million
Tiger Global Management
July 9, 2015
Series B
$20 milion
Tiger Global Management
Feb 15, 2015
Series A
$4 million
Tiger Global Management
Jul 14, 2014
Seed Round
–
–
Nov 15, 2013
Seed Round
–
–
Sep 1, 2013
Pre-Seed Round
$20k
–
Inshorts – Mergers and Acquisitions
Betaglide, a Bangalore-based web analytics startup, was acquired by Inshorts in October 2015. Retention.ai was designed by the firm to track application uninstallations to improve client retention, and the software was then incorporated into Inshorts.
Inshorts – Growth
The company has achieved remarkable growth, and some of the highlights are:
The company’s presence is in 660+ districts as of January 2024.
Inshorts delivers 1 million+ video local updates as of January 2024.
The company has shared 1 billion+ stories as of January 2024.
It has 12 million active users.
The company has more than 100 million users on its platform as of January 2024.
It is available in all major languages as of January 2024.
Financials
Inshorts Financials
2023
2024
Operating Revenue
INR 180.9 crore
INR 181.4 crore
Total Expenses
INR 492.1 crore
INR 411.2 crore
Employee Benefit Expenses
INR 78.8 crore
INR 90.1 crore
Advertising & Promotional Expenses
INR 135.2 crore
INR 47.2 crore
Miscellaneous Expenses
INR 217.2 crore
INR 174.9 crore
Net Loss
INR 309.7 crore
INR 227.8 crore
Inshorts Financials
Inshorts recorded an operating revenue of INR 180.9 crore in 2023 and INR 181.4 crore in 2024. Total expenses decreased from INR 492.1 crore in 2023 to INR 411.2 crore in 2024, leading to a reduced net loss of INR 227.8 crore in 2024, compared to INR 309.7 crore in 2023.
Expenses Breakdown
Inshorts, total expenses decreased from Rs 492 crore in FY23 to Rs 411 crore in FY24.
EBITDA
The EBITDA margin was at 79% for FY24.
Inshorts FY22-FY23
FY22
FY23
EBITDA Margin
-133%
-143%
Expenses/Rs of Op Revenue
Rs 2.40
Rs 2.72
ROCE
–
–
Inshorts – Marketing Strategy
Inshorts distinguished itself with a unique marketing strategy, some of them are listed below:
User-Focused Criteria: User experience was given precedence by Inshorts over traditional measures like time spent on the platform or the virality of the content.
User-Friendly Interface: By removing prompts and giving the user control, the app made sure that users had a good experience with short stories that did not contain links.
Personalization for User Preferences: Inshorts enabled personalization by providing relevant and targeted news based on user preferences, acknowledging the variety of user needs.
Strategic Data Analysis: Inshorts made wise decisions based on deduced data to pinpoint strengths and weaknesses, directing decisions in areas like as product releases and editorial focus. They efficiently used data.
Customer-Based Approach: Understanding local variations, Inshorts designed its app to accommodate distinct information-gathering habits in various urban areas.
Inshorts – Advertisements and Social Media Campaigns
Inshorts – Campaign
In a strategic move to resonate with urban news consumers aged 18-35, particularly those who prioritize brevity and time, Inshorts launched a brand campaign on YouTube. The video ad, which was produced by Cheil India, imaginatively centers on a bomb squad commando who finds himself in a precarious situation and is anxiously waiting for vital orders from his superior.
But the story deftly highlights the commando’s anger at being inundated with pointless details before ultimately pointing him in the direction of the crucial action. This familiar and interesting scenario clearly conveys Inshorts’ dedication to provide clear, pertinent information in a world where there is an abundance of data.
Inshorts – Competitors
Several e-newspaper apps exist, but they aren’t as efficient or time-saving as Inshorts. Dailyhunt, TOI, and others are among Inshorts’ rivals.Dailyhunt has always been its biggest rival.
Inshorts – Future Plans
During its beta phase, the platform gained over 200 paying customers from the US, Europe, and India. It now aims to onboard over 10,000 startups globally by 2025, providing scalability, reliability, and ongoing support.
In its quest for growth, Inshorts is not only focused on enhancing its news services but also aims to broaden its reach to encompass additional local dialects. Recognizing the potential for increased ad revenue through a more diverse language spectrum and a broader user base, Inshorts is strategically positioned to aggregate more views.
Looking ahead, global diversification is a prospective avenue, contemplating a shift beyond local news. Concurrently, the expansion of Public’s clientele is on Inshorts’ agenda, showcasing a multi-faceted approach to sustained growth and impact.
FAQs
Who Inshorts founder?
The founders of Inshorts are Azhar Iqubal, Deepit Purkayastha, Anunay Arunav.
What is Inshorts?
Inshorts is a news aggregation app that provides concise news summaries in 60 words or less. It covers a wide range of topics, including politics, technology, entertainment, and sports, presenting news in an easy-to-read format. Founded in 2013, it targets a young, digital-savvy audience, delivering quick and reliable news updates through its mobile app and website.
What is Inshorts business model?
Inshorts operates on an advertising-based business model. It generates revenue by offering brands promotional space through short-form content, sponsored stories, and in-app advertisements, targeting a young, digital-savvy audience.
How Inshorts make money or explain Inshorts revenue model?
Inshorts makes money primarily through advertising. It earns revenue by featuring sponsored content, in-app ads, and brand collaborations within its news feed. These ads are seamlessly integrated into its short-form content, targeting its large, digital-savvy audience.
What is Inshorts net worth?
As of its last funding round in July 2021, Inshorts valuation is approximately $550 million.
What is Inshorts profit?
Inshorts recorded an operating revenue of INR 180.9 crore in 2023 and INR 181.4 crore in 2024. Total expenses decreased from INR 492.1 crore in 2023 to INR 411.2 crore in 2024, leading to a reduced net loss of INR 227.8 crore in 2024, compared to INR 309.7 crore in 2023.
Quick commerce and e-commerce are fuelling private consumption in the nation, according to the Reserve Bank of India (RBI). According to the central bank’s monthly report, e-commerce and q-commerce are driving the economy’s recovery in private final consumption. The central bank went on to say that encouraging competition is more vital than imposing restrictions on certain markets. In the same sentence, the RBI pointed out that the October–December quarter saw a little increase in demand for household commodities. The RBI claims that the middle class, particularly in cities, is counting on relief from food inflation in order to increase their disposable incomes. The central bank proposed that increasing consumption is a means of reviving the economy’s animal spirits.
Rural India Goldmine for Ecommerce Platforms
According to the RBI, the country’s rural areas should continue to see rapid volume growth. It is important to remember that the RBI stated in November of last year that during the festive season, rural India became a treasure trove for e-commerce platforms. The development coincides with the emergence of fast commerce as the next arena of competition in the e-commerce industry. Among the leading companies in the market are Zepto, Swiggy’s Instamart, and Zomato‘s Blinkit. In FY24, the three of them recorded combined revenue of nearly $1 billion. Amazon and Flipkart, two of the biggest online retailers, have also joined the market with their products, nevertheless. Additionally, BigBasket and JioMart are vying for a piece of the action.
Changing Dynamics of Quick Commerce Business
Although quick commerce began with grocery delivery, more businesses are entering the food delivery market and providing services in ten to fifteen minutes. Swiggy has introduced Bolt and SNACC for speedy delivery, while Zomato has introduced Blinkit’s Bistro and a 15-minute meal delivery service. To provide comparable features, Zepto has also released its own stand-alone app called “Zepto Cafe.” Additionally, recent entrants like Zing and Swish are providing fast meal delivery services.
The Present State of the Quick Commerce Industry in India
According to industry data, the rapid commerce business in India has expanded by 280% in the past two years, and the top three companies, Blinkit, Zepto, and Swiggy Instamart, have combined to generate over $1 billion in revenue for FY24. This occurs as Indian businesses are stepping up their rapid commerce solutions. Amazon India is getting ready to debut its rapid commerce service, Tez, while Myntra recently introduced M-Now for 30-minute- to 2-hour deliveries. The fierce competition in the rapid commerce area is shown by Zepto’s recent $350 million fundraising round, which was led by Motilal Oswal’s Private Wealth division. The company has raised $1.35 billion this year alone to increase the number of its dark stores and diversify its product offerings, demonstrating the significant investments being made by competitors to gain market share in this quickly expanding industry.
E-commerce and other retail formats are being disrupted by quick commerce, which, according to a recent Bernstein analysis, is expanding more quickly than contemporary retail chains like Reliance Retail, Dmart, and Spencer Retail. This is one of the reasons why consumer platforms are responding to the shift by preparing to deliver a variety of goods outside of groceries in 10–20 minutes.
By offering 2.03 Lakh (2,03,137) stock options under its ESOP Plan 2019, Paytm has increased the scope of its employee stock option plan (ESOP). The company stated in an exchange filing on January 17 that it would like to notify the exchange that 2,03,137 stock options have been granted to eligible employees under the One 97 Employees Stock Option Scheme 2019 (“ESOP 2019”) by the Nomination and Remuneration Committee of the Board of the Company (“Committee”) at its meeting on January 17, 2025.
The business added that each stock option has the potential to be converted into a single, fully paid-up equity share, each of which has a face value of INR 1. The projected total value of these stock options is INR 18.27 Cr, based on Paytm’s stock closing price of INR 899.65 a share on Friday. Paytm reported the cancellation or lapse of 17,68,469 stock options in addition to the fresh ones. In accordance with the terms and conditions of the ESOP 2019 plan, this includes the cancellation of 44,848 stock options.
Various ESOP Pool Launched by Paytm
Paytm distributed 1.48 lakh equity shares to qualified workers earlier this month through a number of employee stock option plan (ESOP) programs. In recent months, Paytm has witnessed a number of ESOP-related changes. Under its ESOP 2019 and ESOP 2008 schemes, the fintech giant distributed 2.44 lakh equity shares to qualified employees in December 2024. In November 2024, it additionally reserved 4 lakh equity shares under ESOP 2019 for its qualified employees. In addition, eight Paytm representatives reached a settlement with the market watchdog. These individuals settled the matter by paying a cumulative sum of INR 3.32 Cr, without acknowledging or denying the findings of SEBI.
Paytm’s Current Financial Outlook
In terms of finances, the fintech giant made money in the second quarter of FY25, reporting a net profit of INR 930 Cr as opposed to a loss of INR 292 Cr in the same period last year. Profitability resulted from the business selling Paytm Insider, its ticketing division, to Zomato for INR 2,048 Cr during the September quarter. For INR 2,364 Cr ($279.19 Mn) in the December quarter, Paytm sold SoftBank’s Vision Fund 2 its stock acquisition rights (SARs) in the Japanese digital payments company PayPay Corporation. On January 20, the business is scheduled to release its Q3 FY25 financial results.
For $279.2 million, the Singapore-based affiliate of Paytm recently sold Softbank Vision Fund 2 all of its stock acquisition rights in Japan’s PayPay. As Paytm strives to reduce operations to concentrate on its main business in India, the sale is anticipated to enhance the company’s consolidated cash balance.
Nitin Konde
