The Ministry of Commerce & Industry said on 25 December that over 73,000 Indian enterprises had at least one female director, as certified under the Startup India initiative. In a statement, the ministry emphasised that this amounts to almost half of the 157,066 businesses that the government has funded, highlighting the critical role that women play in fostering innovation and economic expansion. India is now the third-largest startup hub in the world and boasts one of the most thriving startup ecosystems.
The Indian startup scene is influencing the direction of innovation and entrepreneurship with more than 100 unicorns. Over the past ten years, there has been a paradigm shift in India’s entrepreneurial mentality. Innovation hubs have emerged in cities like Bengaluru, Hyderabad, Mumbai, and Delhi-NCR.The expansion of startups in a variety of industries, such as fintech, edtech, healthtech, and e-commerce, has been spurred by the broad availability of reasonably priced internet and a youthful and vibrant workforce.
Indian Startup Ecosystem Report
Startup India’s “Indian Startup Ecosystem Report” claims that Indian startups have used cutting-edge technologies like blockchain, IoT, and artificial intelligence (AI) to solve regional and worldwide problems.With the help of incubators, accelerators, and strong mentorship networks, this innovative culture has created a special ecosystem that links innovative solutions with problems at the local level.The Indian government has launched a number of programs to encourage and foster entrepreneurship in recognition of the revolutionary potential of startups.
The foundation of this endeavour has been the flagship Startup India program, which was introduced in 2016. The Department for Promotion of Industry and Internal Trade (DPIIT) has recognised 157,066 startups as of December 25, 2024, and 759,303 people have registered on the portal.Through sector-specific laws, tax breaks, capital assistance, ease of doing business, and the Bharat Startup Knowledge Access Registry (BHASKAR) platform, the government has started aggressive initiatives to help the startup ecosystem.
Other Initiatives Backing Startup Culture
Infrastructure and funding are made available to innovators through programs like the National Initiative for Developing and Harnessing Innovations (NIDHI) and the Atal Innovation Mission (AIM). With an investment of INR 99 crore, the Startup Accelerator of MeitY for Product Innovation, Development, and Growth (SAMRIDH) program was introduced in 2021 with the goal of assisting 300 software product startups over the course of four years. The program offers accelerators up to INR 40 lakh in funding per startup to help them grow their businesses.
The ministry praised the achievements of cutting-edge businesses like BYJU’S, Zomato, Ola, and Nykaa, pointing out that these startups have grown internationally and demonstrated India’s capacity to grow and compete on a global scale.”India’s global influence is further demonstrated by the success of Indian-origin startups in Silicon Valley,” the ministry continued. Indian startups are increasingly exploring foreign markets and collaborating with multinational corporations, according to the Startup India International Guide. According to the government, comparable ideas around the world are being inspired by India’s leadership in providing inexpensive technology solutions, such as Aadhaar-enabled services and UPI.
The Ministry of Commerce & Industry also discovered that India’s unicorns are outperforming their international counterparts in terms of valuation growth, demonstrating the stability and scalability of the ecosystem’s basis.
According to media reports, the salt-to-software conglomerate Tata Sons only intends to invest in its digital division, Tata Digital, by the middle of 2025. To advance its growth portfolio until then, Tata Digital will need to rely on loan financing and internal resources. A media report claims that this choice is in line with the business’ overarching plan to improve execution, accountability, and return on capital under the direction of Naveen Tahilyani, the company’s new CEO. The report also emphasises how, while keeping an eye on expansion, Tahilyani has tightened spending controls across the Tata Group’s divisions. This comes days after N Chandrasekaran, the chairman of Tata Sons, urged group company CEOs to pursue rapid expansion in spite of growing market uncertainty both domestically and internationally.
BigBasket Hitting the IPO in Coming Years
Blinkit, Swiggy Instamart, and Zepto are fierce rivals of Tata Digital’s rapid commerce division, BigBasket, and they are all increasing their costs in an effort to obtain a competitive advantage in the market. In addition, BigBasket is reportedly considering using public markets for an initial public offering (IPO) in the upcoming years. It is important to remember that Tata Digital saw a positive turn in the fiscal year 2023–24 (FY24), reducing its standalone losses from INR 1,370 Cr to INR 1,201 Cr.
According to officials, Tata Neu is currently actively utilising a data-driven approach to reach all consumer access points within the system, including collaborations with outside parties. The majority of the additional capital for BigBasket and 1mg is being obtained through debt rather than a new equity injection as part of this approach. To date, Tata Sons has contributed more than $2 billion to the mega app developed by Tata Digital.ET previously covered the funding plans of e-pharmacy 1mg and e-grocer BigBasket.
Tata Group’s Current Financial Dynamics
Additionally, Tata Digital’s overall revenue more than doubled from INR 204.3 Cr in FY23 to INR 420.5 Cr. Nonetheless, the first half of FY25 experienced single-digit revenue growth for a number of Tata Group entities, including Tata Consultancy Services (TCS), Tata Motors, Tata Steel, and Tata Power. This was further supported by a similar amount of enterprises experiencing a decline in their profitability. Additionally, Tata Digital saw a number of advancements in its brands, like Tata Neu and Croma. One of Tata Neu’s biggest revenue generators, Croma, named Shibashish Roy as its new CEO this month with the goal of accelerating development after restructuring. During the same month, Tata Neu launched Neu Flash, a fast commerce delivery service aimed at customers in a variety of markets, such as electronics and groceries.
Tata Cliq made INR 78.5 crore in revenue and INR 175 crore in losses in FY23. For Neu, Tata Cliq is an essential business since fashion is a major sector for any e-commerce platform. To grow its fashion business, Tata Cliq, which is part of Tata Unistore and is run by CEO Gopal Asthana, is working closely with the Neu team. After Vikas Purohit left in October of last year, Asthana was named CEO.
IndiQube Spaces, a managed office space provider, has submitted its DRHP for an INR 850 Cr initial public offering (IPO) to the Securities and Exchange Board of India (SEBI), the market watchdog. An offer for sale (OFS) of up to INR 100 Cr and a new issue of shares up to INR 750 Cr will be part of the company’s first public offering (IPO). Meghna Agarwal and Rishi Das, the cofounders and promoters, will sell off a portion of their shares through the OFS.
The issue’s book running lead managers are JM Financial and ICICI Securities. Both the BSE and the NSE will list the company’s shares. From the net proceeds of the new issuance, IndiQube intends to use INR 462.6 Cr to open additional centres, INR 100 Cr to pay back some loans, and the rest sum for general business needs. From INR 198.11 Cr in the previous fiscal year to INR 341.51 Cr in FY24, the company’s net loss increased by 72%. Operational revenue for the reviewed fiscal year was INR 867.66 Cr, a 44% increase over FY23’s INR 601.28 Cr. Its operating revenue for the three months ending June 30, 2024 (Q1 FY25) was INR 251.30 Cr, while its loss after tax was INR 42.04 Cr. IndiQube reported in a statement that its EBITDA was INR 153 Cr in the first quarter of FY25 and INR 263.4 Cr in FY24.
Focusing on ‘Office in a Box’ Concept
IndiQube is a managed office space provider that was founded in 2015 and provides clients with a “office in a box” experience that includes workspace design, interior build-out, and a wide range of technology-enabled B2B and B2C services. Nearly three months have passed since a media report revealed that the Bengaluru-based business was in advanced talks to choose merchant bankers for its initial public offering. A resolution to rename the company from “IndiQube Spaces Private Limited” to “IndiQube Spaces Limited” was passed by the board of IndiQube in November. According to the company’s claims, as of June 30, 2024, it managed a portfolio of 103 locations spread over 13 cities, totalling 7.76 million square feet of area under management (AUM) in built-up area and 1.72 lakh seats.
Third Coworking Space Segment Firm to Opt for IPO
The clients of IndiQube include Myntra, upGrad, Zerodha, No Broker, Redbus, Juspay, Perfios, Moglix, and Ninjacart. WestBridge Capital, Ashish Gupta of Helion Ventures, and Aravali Investment Holdings support the brand. Interestingly, none of the current investors are selling shares through the OFS, with the exception of the cofounders.
After Awfis went public in May of this year, IndiQube is now the third firm in the coworking space sector to file for an initial public offering (IPO). Although SEBI authorised Smartworks’ DRHP, it has not yet approved DevX’s IPO proposal. In addition, companies including Innov8, 91springboard, Spring House, Incuspaze, and COWRKS are aiming to go public shortly. These coworking space providers are growing as a result of rising office space costs and the rise in modern tech companies that require office space.
India’s financial technology industry has seen an explosive surge in financing over the last several years, with assets totaling more than $8 billion allegedly invested across various stages. India has the world’s highest FinTech rate of adoption. India has 10,200 registered fintech startups in 2024 and is one of the fastest-growing FinTech industries in the world. The Indian FinTech business is expected to be worth $150 billion by 2025.
While Payments and Alternative Finance accounted for more than 90% of investment flows in 2015, there has been a major change toward a more fair distribution of investment across sectors since then, with InsurTechs, WealthTechs, and other areas garnering considerable attention. In India, around 17 Fintechs have been designated as ‘Unicorns.’
Insurance companies throughout the world, particularly in India, have a lot of opportunities to use technology to optimize distribution costs and provide algorithms for personalized pricing. A believer of the same, Varun Dua, in the digital era, is commonly acclaimed for redesigning India’s insurance narrative.
“If you really want to change the plumbing, you will have to start manufacturing it,” is what he says. Varun Dua, the founder and CEO of Acko, is a renowned serial fintech entrepreneur. He co-founded and served as the CEO of one of India’s top online insurance aggregators, Coverfox, before launching Acko in 2016. Investors invested $30 million into Acko even before the formal debut, based on Varun’s proven records.
Varun Dua Biography
Name
Varun Dua
Birth
1981
Nationality
Indian
Occupation
Co-founder and CEO of Acko, Co-founder of Coverfox & Glitterbug Technologies
Acko’s Founder and Chief Executive Officer, Varun Dua, has over 10+ years of experience in the insurance market, with a wide spectrum of services and responsibilities. He was in charge of marketing analytics for direct business acquisition and technology for effective customer service. Coverfox Insurance Broking Pvt. Ltd. was his company, and he was its CEO and Co-founder.
He completed his Bachelor’s degree from the University of Mumbai. Later, he pursued a master’s at a prominent business school in India called MICA. Known for his extensive experience in product management and business development, Varun Dua’s educational background reflects a solid foundation for his professional journey.
Varun Dua – Family
Varun Dua’s father’s name is Chander Mohan Dua. His mother is Rashmi Dua and he is married to Sapna Rana.
Varun Dua – Career
Varun Dua, the founder of Coverfox, an online insurance aggregation platform, followed the road less traveled in a startup climate where the mantra is “act rapidly and damage things.”
Varun worked as a Trainee at Leo Burnett Advertising for less than a year after graduating. He subsequently went on to work for Tata AIG Life Insurance and Franklin Templeton Investments as a marketing manager. Varun launched two prior companies before founding Coverfox in 2013, Glitterbug Technologies and Enser Communications.
One of the key motivations for founding Acko, according to Dua, was the awareness that there had been an open chance to use the World Wide Web to bring interesting ways of selling insurance products.
Despite the fact that Dua had just come into contact with insurance by chance, he was rapidly pulled into its world and learned everything there was to know about the market’s intricate inner workings. It wasn’t long before he had the desire to start his own business.
In his own words, “I started off not really clear about what I wanted to do, but I definitely didn’t want to do what I was doing.”
The firm takes a D2C strategy, using its web platform to market traditional insurance services. This makes underwriting and risk selection substantially easier. Acko, his company, also offers unique and bite-sized insurance solutions, including rider insurance, ticket cancellation, mobile and appliance protection, and more, in addition to vehicle, bike, and health insurance. Acko also touts partnerships with more than 15 key digital ecosystem firms, including Ola, RedBus, OYO, Zomato, Urban Company, HDB Financial Services, and others.
Varun Dua on the Future of Insurance
Varun Dua – Acko
Varun Dua – Co-founder and CEO of Acko
Acko’s overall motto, according to its website, is “Insurance made easy: Zero commission. Zero paperwork.” Acko ran a campaign with the phrase “Full Paisa Wasool” to make people aware. The term “complete value for money” refers to insurance providing complete value.
Insurance schemes are how Acko makes money. Furthermore, Acko’s digital-only approach removes the retail costs of building physical storefronts as well as a parasitic reliance on a distribution network, both of which are factors that competing insurance firms rely on heavily.
Insurers, according to the owner of Acko Insurance, Dua, are obligated to hire salespeople to reach out to clients and market their goods because they all essentially provide the same or comparable products.
“Our focus on creating customised solutions will create the demand we are looking for, thus eliminating the need to hard-sell and invest a lot on a distributing network,” he adds.
Mumbai-based Acko, founded by Varun Dua, features a variety of customer-friendly programs. The organization has received several five-star ratings and over 4.5 crore satisfied customers as a result of its customer-centric initiatives.
Acko reported an operating revenue of INR 1,334 crore in FY22, which grew to INR 1,758 crore in FY23 and further increased to INR 2,106 crore in FY24. However, the company faced losses during these years. It recorded a loss of INR 482 crore in FY22, which widened to INR 738.5 crore in FY23 before improving slightly to INR 670 crore in FY24.
They deliver outstanding customer service, and as a result, Acko has gained their clients’ confidence. Narayan Murthy and Accel are also behind Acko’s amazing growth. Acko underwrote a premium of INR 41.56 crore in September 2019. In comparison to 2018, the firm had a 6x increase. The premium was previously valued at INR 6.53 crore.
Customers were unable to visit the showrooms because of the pandemic. Automobile purchases made through digital means, on the other side, have increased considerably. When compared with the year 2021, Acko, a digital insurance provider, saw a stunning 120 percent increase in sales of automotive insurance contracts in the first quarter of FY22.
Whether it’s for our vehicle, bike, or ourselves, pre-purchased insurance nearly always comes in useful, if not proving to be a lifesaver. Unfortunately, not all insurance service providers are glad to embrace a 0% fee and serve their customers online, but Acko is, which is why Acko is swiftly gaining steam.
Acko is here to provide premium insurance to the Indians. And moreover, the Mumbai-based Acko is now a unicorn. In the IPL 2022, Acko General Insurance signed on as an associate sponsor for three teams: Gujarat Titans, Kolkata Knight Riders, and Lucknow Supergiants. Two of these teams are new to IPL, having made their debut in the 15th edition.
Varun Dua has made 5 investments with the latest investment made in infinyte.club on August 12, 2024.
Date
Company
Round
Round Amount
Lead Investor
Aug 12, 2024
infinyte.club
Seed Round
INR 302 million
–
Jun 25, 2024
Plus Gold
Seed Round
$1.2 million
–
Sep 2, 2021
dezerv.
Seed Round
$7 million
–
May 23, 2017
Acko
Seed Round
$30 million
No
Feb 21, 2016
Charcoal Eats
Seed Round
$150K
No
Varun Dua – Challenges Faced
A basic challenge with his journey in the insurance sector, according to Dua, has been a lack of trust, which has created a big obstacle in his way in the beginning. Because of the complexities of the products on the market, the buying procedure, and the claiming process, the trust gap is exacerbated.
Customers have always found the insurance claims procedure to be a lengthy, time-consuming, and frequently iterative process. He wants to improve the consumer experience all the way through the value chain.
Varun Dua – Shark Tank India
Varun Dua – Shark Tank India
In more ways than one, the first season of the show, Shark Tank India has been a blessing to ambitious entrepreneurs in India. For watchers, it has been a huge hit! For openers, the show has brought those entrepreneurs a lot of attention, if not money.
The exposure, along with lucrative investments from the sharks, has paid off for some chosen ones. The Sharks’ banter, which is the most amusing segment for the desi population, helps to make the program what it is. It undoubtedly adds to the enthusiasm and provides some excellent items on Indian television. In the popular show’s third season, Varun Dua was one of the sharks at that time.
This is what he wrote on his X account:
To be a “shark” today for me is a strange feeling. I wasn’t born with a silver spoon. And with my average grades, I wasn’t what you’d call type A either. There was nothing in my resume, my repertoire or my background which should lead to the path of starting out a business, that should become large. And yet, here I am. My journey building @ACKOIndia has been anything but straightforward which is why being on Shar40k Tank is so meaningful. There is immense opportunity for young entrepreneurs in right now, as we are on the verge of a techtonic shift in India and India’s ambitions. I’m looking forward to contributing in this new ocean of opportunities with some awesome entrepreneurs.
Varun Dua is the founder and CEO of Acko Insurance.
What are Varun Dua education qualifications?
Varun Dua completed his Bachelor’s degree from the University of Mumbai. Later, he pursued a master’s at Mudra Institute of Communications (MICA), Ahmedabad.
Does Amazon own Acko?
Amazon is not Acko’s owner. While Amazon has been a major investor in Acko since 2018, contributing to its funding rounds, Acko remains an independent company with its own board of directors and management team.
What is Varun Dua net worth?
Varun Dua’s estimated net worth as of 2024 is INR 107 crore.
Who is Varun Dua wife?
Sapna Rana is the wife of Varun Dua.
What is Varun Dua age?
Varun Dua was born in 1981. He is 43 years old.
What is Acko net worth?
Acko’s valuation after its last funding round was $1.4 billion.
As the clock strikes midnight and the world bids farewell to the previous year, advertisers grasp the chance to create campaigns that engage, motivate, and resonate with people all around the world. From heartwarming stories that make us cry to hilarious sagas that make us laugh, each ad tells a distinct story that reflects the spirit of the New Year.
Advertisers recognize the metaphorical significance of the New Year as a harbinger of new prospects and fresh beginnings. These advertising efforts have become positive beacons with their uplifting messages and visuals.
At their finest, exceptional New Year advertisements’ meaningful messaging and emotive creativity can inspire millions. So, without further ado, let us look at the most creative New Year ads of all time.
The You Make the Excuse, We’ll Make the Plan campaign by BookMyShow captures the fun and chaos of year-end celebrations. It shows employees coming up with creative excuses for leave and even bosses joining in the holiday spirit. The commercial encourages everyone to take a break and plan their New Year celebrations using BookMyShow.
Known for its easy booking experience, BookMyShow’s creative New Year advertisement highlights the joy of starting the New Year by spending time with loved ones. With humor and relatable moments, it reminds people to focus on what truly matters: celebrating and making memories.
Mamaearth: #AaoBanayeNewYearBeautiful (2022)
Best New Year Advertisements – Mamaearth’s #AaoBanayeNewYearBeautiful
The Mamaearth #AaoBanayeNewYearBeautiful campaign centered on welcoming the New Year with natural beauty and self-care rituals. It extends an invitation to everyone to participate in the endeavor of making the New Year wonderful. Mamaearth is well-known for its dedication to natural and environmentally friendly products. The New Year advertisement showcases simple home remedies and beauty recipes using toxin-free, ayurvedic products.
The phrase “goodness inside” fits the ad perfectly with the New Year’s theme of enthusiastically starting over with mindful practices for both body and mind. Their products facilitate that symbolic shift. More than an advertisement, it is a call to action for people to actively participate in bringing about a change for themselves.
Vivo India: #SwitchOff (2021)
Best New Year Advertisements –Vivo India’s #SwitchOff
This phone company launched a touching commercial during the New Year’s holiday, emphasizing the value of disconnecting from technology in order to spend quality time with family. This advertisement depicts a typical image of people disengaged from real-life events and instead engrossed in the parallel digital world inside their devices.
It struck a lovely chord with more extensive cultural conversations around the adverse impacts of constant connectivity on relationships, mental health, and, specifically, child development. #SwitchOff delivered much-needed inspiration to re-evaluate our relationship with technology every so often.
Google: #YearinSearch (Annual)
Best New Year Advertisements –Google’s #YearinSearch
Every year, Google releases an ad with a dedicated website analysis of the top trending searches on Google over the previous year as a glimpse of what captivated the world’s interest. In honor of Google’s 25th anniversary, they broadened this search to include the top searches over the past twenty-five years. From critical global events to viral trends and technological advancements to the most famous personalities, #YearinSearch curates a visual journey through the highs and lows of the year.
Moving beyond conventional advertising, it becomes a shared experience. It serves as a digital time capsule, capturing the year’s zeitgeist and inviting audiences to explore, contemplate, and possibly gain fresh insights about the unfolded events.
Best New Year Advertisements –WhatsApp’s #EveryoneYouLove
Centered on the insight that individuals often send messages to everyone they love to share New Year’s wishes, this ad visually guides viewers through celebrations worldwide. It emphasizes how WhatsApp facilitates relationships, allowing individuals to feel close even when they are physically apart during the holidays. The ad strikes an emotional chord by turning the focus away from WhatsApp’s capabilities and instead emphasizing its crucial, almost nostalgic role in a significant cultural tradition that transcends demographics.
While many enjoy New Year’s Eve festivities such as parties, midnight celebrations, and fireworks, the commercial says that the emotional reset of the New Year is found when they connect with the people who matter most.
Ariel: #CelebrateEqual (2022)
Best New Year Advertisements –Ariel’s #CelebrateEqual
Ariel’s #CelebrateEqual campaign addressed a pressing social issue by highlighting inequality in household duties, particularly during holidays. Ariel aspires to bring about a better society in which everyone is treated equally. The goal of the advertisement was to initiate these kinds of discussions in order to promote change.
Several successful adverts on this topic have been launched over the years. Before the initiative, 79% of men believed that domestic responsibilities were solely the responsibility of women. That figure has now dropped to 41%. Celebrations have returned, with family meals, festivals, and gatherings arranged with the purpose of achieving a genuinely equal celebration.
BMW: The Happy New Year Flim (2023)
Best New Year Advertisements –BMW’s The Happy New Year Flim
The hashtag #bornelectric is a marketing campaign based on BMW‘s electric vehicles (EVs). BMW has been actively involved in the research, development, and promotion of electric and hybrid cars, harmonizing with the global shift toward environmentally friendly modes of transportation.
The commercial aimed to attract youngsters who are enthusiastic about electric vehicles and other environmentally friendly modes of transportation. The teenager in the commercial represents the current generation, and their dismissive attitude regarding automobiles is designed to resonate with viewers who share similar views. The commercial’s tagline, “The future is electric,” conveys the clear message that BMW is committed to building electric vehicles and truly believes this is the future of transportation. This is more than just hardware; it is a work of art that reflects a new direction led by conscience and innovation.
T- Mobile: New Year. New Neighbour (2023)
Best New Year Advertisements –T Mobile’s New Year. New Neighbour
T-Mobile is known for its inventive and often amusing marketing campaigns in the telecoms business. The organization has a history of employing bold and innovative techniques to differentiate itself from its competitors. T-Mobile refreshed its hit 2017 holiday marketing concept in 2023, emphasizing its wireless plans and 5G network stability. In this advertisement, an American icon walks into the neighborhood and sings with the group to promote T-Mobile Home Internet. The commercial encourages viewers to try T-Mobile Home Internet, which is easy to set up and operates on 5G home networks.
Volkswagen (2023)
Best New Year Advertisements – Volkswagen | Happy New Year
Volkswagen is a car manufacturer based in Germany. In their advertising efforts, they have frequently used a blend of creative storytelling, innovation, and a focus on the driving experience. The advertisement aims to promote Volkswagen’s brand while creating a good relationship with the New Year. The advertisement’s eye-catching visuals demonstrated the brand’s dedication to high design and quality. The ad’s emphasis on the car’s performance and aesthetics reflects the company’s pride in its products.
Best New Year Advertisements –Netflix’s Expectation vs Reality
Using a lighthearted tone, Netflix‘s 2020 New Year’s commercial contrasted the romantic films’ idealistic depictions of the event with the more grounded reality that viewers usually see in real life. The advertisement features a montage of cliché movie scenes depicting New Year’s Eve as a gorgeous night but smoothly transitions into a hilarious reality. The primary theme of this out-of-the-box advertisement is that watching Netflix at home surpasses trying to replicate fictitious versions of New Year’s Eve out in the real world, supporting Netflix’s brand image as an essential source of entertainment.
Coca-Cola: New Year
Countdown Creative Ads –Coca-Cola’s New Year
Amid the global excitement for the year 2022, Coca-Cola released a vibrant and upbeat New Year’s advertisement featuring their trademark dazzling imagery and a message of unity. Coca-Cola is well known for its eye-catching commercials, which frequently include vivid colors, joyful scenes, and a festive atmosphere. It even features the contour bottle and red and white color scheme from its classic trademark. The video’s joyful and cheery soundtrack, as well as its varying collection of characters, correlate with Coca-Cola’s corporate image of promoting happiness and connection through its products.
Conclusion
These advertisements go beyond merely marketing items; they connect with us on a deeper level by tapping into the emotions and ambitions associated with the start of a new year. Whether it’s the joy of being together, the promise of a new beginning, or the reflection on the passing of time, these advertisements have beautifully captured the essence of the New Year Spirit. These stand out as timeless masterpieces that continue to bring a smile to our faces and warmth to our hearts as we welcome each new year.
FAQs
What is the world’s biggest ad campaign?
Most Creative Ad Campaigns are:
Nike: Just Do It.
Coke: Share a Coke
Absolut Vodka: The Absolut Bottle
Volkswagen: Think Small (1960)
Google: Year in Search (2017)
Apple: Get a Mac (2006)
Who has the biggest ads in the world?
In 2023, Amazon claimed the global advertising throne as the largest spender, dishing out a whopping $20.6 billion—a 22% surge from 2022’s investment in promotions and advertising.
In order to help physical businesses contend with the influx of rapid commerce platforms, the Federation of Retailer Association of India (FRAI) has called on the government to develop an “enhanced technology platform.” According to a news agency report, the merchants’ body stated that such assistance would help the kirana stores stay competitive in the face of rapid commerce startups like Swiggy, Instamart, Blinkit, or Zepto encroaching on their market. The Open Network for Digital Commerce (ONDC) was praised by the FRAI, but it stated that a specific solution is required to make local kirana establishments visible and reachable by consumers.
According to the body, this would level the playing field and allow these kirana shops to compete on an equal basis with “10 minute” delivery systems. According to FRAI spokesperson Abhay Raj Mishra, it is now necessary to take a more targeted approach to developing a particular solution for kirana stores that makes them as discoverable and accessible to customers as possible, similar to how quick commerce companies are functioning, given the new technologies introduced by the government, such as ONDC.
Kirana Stores Operators Struggling to Survive
According to reports, MP and Confederation of All India Traders (CAIT) secretary general emeritus Praveen Khandelwal pointed fingers at quick commerce operators, stating that kirana outlets are “facing steep challenges” as a result of the increasing number of quick commerce firms. Khandelwal stated that rapid commerce platforms are undercutting small stores with their enormous warehouses, large client bases, and deep finances, and that it is imperative that retailers “stay updated and embrace all channels” in order to fulfil the changing demands of their customers.
Additionally, he said that these online marketplaces have an “unfair advantage” over kirana shops, and that shopkeepers’ revenues have stagnated as a result of increased competition from rapid commerce operators, particularly during the festival season when demand is at its highest. The remarks are made at a time when quick commerce players have significantly increased their operations and presence over the last year due to rising demand. Zomato, the company that runs Blinkit, obtained around $1 billion earlier this year through qualified institutional placement (QIP) to support its rapid commerce goals, even if Zepto raised more than $1.3 billion in 2024.
More Fierce Competition Ahead
The competition will increase as more businesses try to join the fast commerce trend, which will make things worse for kirana shops. Amazon has plans to launch its rapid commerce platform early next year, while Flipkart joined the “10 minute” delivery race earlier this year with Minutes. For a while now, retailer associations have been keeping an eye on quick commerce platforms.
The All India Consumer Products Distributors Federation (AICPDF) lodged a complaint against rapid commerce companies, which the Department for Promotion of Industry and Internal Trade (DPIIT) forwarded to the Competition Commission of India in September. Quick commerce companies were also charged by CAIT last month with encouraging aggressive pricing, breaking competition laws, abusing FDI regulations, and gaining near-monopolistic control over supply chains.
Ola Electric announced on 26 December that it now has 4,000 stores nationwide, a four-fold increase from the 800 stores that were previously disclosed on December 2 of this month. In less than a month, the firm reported adding 3,200 additional stores to its current network.
The corporation stated that it was dedicated to promoting widespread EV adoption, which would allow for wider penetration into practically every town and tehsil in India, going beyond tier-1 and tier-2 cities. The business has now fulfilled its promise. Bhavish Aggarwal, chairman and managing director of Ola Electric, stated that today is a major turning point in India’s EV journey as the company extends its network to every city, town, and taluk.
Aggarwal added that Ola has entirely redesigned the EV buying and ownership experience with its recently launched stores that are also service centres, setting new standards with its “SavingsWalaScooter” campaign.
New Offers and Benefits Rolled Out by Ola
Ola Electric has launched promotions with advantages up to INR 25,000 on the S1 portfolio, which will only be accessible on December 25, 2024, to commemorate the network’s expansion. Consumers can receive a flat discount of up to INR 7,000 on the S1 X portfolio by visiting the closest newly opened Ola Store. Customers can also take advantage of other perks up to INR 18,000, such as INR 5,000 on certain credit card EMIs and INR 6,000 on MoveOS benefits.
Introducing the Ola S1 Pro Sona Limited Edition
According to the firm, the Ola S1 Pro Sona was also introduced with genuine 24-karat gold-plated components to commemorate the significant network development. The immersive “Sona Mood,” which includes a personalised MoveOS dashboard, a gold-themed Ola app interface, and an enhanced riding experience, is included with Ola Sona. By customising riding modes and settings on the dashboard, consumers can improve their travel experiences.
Additionally, the business is now accepting priority registrations for its MoveOS 5 beta software platform, which offers features aimed at improving the whole riding experience. Features like group navigation, real-time position sharing, and road trip mode enabled by Ola maps are now available to Ola riders. These features also include TPMS (tyre pressure monitoring system) alarms, smart charging, and smart parks.
Ola Gig, Ola Gig+, Ola S1 Z, and Ola S1 Z+ are the scooters in the company’s new Gig and S1 Z series. They are priced at INR 39,999 (ex-showroom), INR 49,999 (ex-showroom), INR 59,999 (ex-showroom), and INR 64,999 (ex-showroom), respectively.
With features like detachable batteries, the new line of scooters provides versatile and reasonably priced options to meet the needs of rural, semi-urban, and urban consumers for both personal and business purposes. Delivery of the Gig and S1 Z series will start in April 2025 and May 2025, respectively, and reservations are available for INR 499.
Additionally, Ola Electric provides a wide range of S1 products at different pricing points to meet the needs of different types of customers. The mass market offerings include the S1 X portfolio (2 kWh, 3 kWh, and 4 kWh) priced at INR 74,999, INR 87,999, and INR 101,999, respectively, while the premium offerings, S1 Pro and S1 Air, are priced at INR 134,999 and INR 107,499, respectively.
According to an official on 24 December, telecom regulator Trai will shortly make recommendations on regulations for the distribution of satellite spectrum. To open the door for satellite-based broadband services in the nation, the government would consider the suggestions made by the Telecom Regulatory Authority of India (Trai) before deciding to distribute spectrum to satellite communication firms.
Trai Chairman A K Lahoti stated that the recommendation on satcom spectrum rules will be released “very soon” when asked about it at a National Consumer Day event. In the second week of November, Trai wrapped up an open-house discussion on the terms and circumstances for spectrum assignment for specific commercial satellite-based communication services.
Tug of War Between National and International Players
Reliance Jio and Bharti Airtel, two telecom service providers, believe that spectrum should only be distributed through auctions in order to ensure nationwide mobility. Nonetheless, an administrative distribution of satcom spectrum is supported by Elon Musk’s Starlink, as well as international competitors like Amazon’s Project Kuiper and other satellite communication firms.
Trai’s lengthy open-house discussion lasted for several hours, during which telcos Reliance Jio and Bharti Airtel united and spoke in tandem about the need for a level playing field as India works out the norms for satcom spectrum. The battle lines between terrestrial players and satellite aspirants were clearly drawn. In support of the satellite spectrum auction, Jio stated that it is “not afraid of competition” but that “same services, same rules” must be followed.
A retired Supreme Court judge was consulted by the Mukesh Ambani-led company to provide legal advice, stating that the issue of levelling the playing field with ground-based telecom networks appears to have been entirely ignored in Trai’s consultation paper on spectrum allotment for satellite communications. Several international peers, including Amazon’s Project Kuiper and Musk’s Starlink, support an administrative distribution of satcom spectrum.
Satellite Earth Station Gateways
Regarding licensing requirements for satellite earth station gateways (SESG), service providers have been at odds. While Bharti Group-backed Eutelsat OneWeb and Apple partner Globalstar have stated that SESG does not require any new licensing, reports indicate that Amazon’s Kuiper, Canada’s Telesat, and Tata’s Nelco have shown interest in a distinct authorisation scheme for SESG.
Data transfer between local networks is facilitated by SESGs, which are ground stations. Jyotiraditya Scindia, the minister of communications, stated in October that satellite service spectrum would be administratively distributed but at a “cost.” It is important to remember that in order to provide satcom services in India, Starlink and Amazon Kuiper must first get a global mobile personal communication by satellite services (GMPCS) licence. Permits to launch satellite communications services in the nation have only been granted thus far to Reliance Jio’s joint venture with Luxembourg-based satellite provider SES and Eutelsat Oneweb, which is supported by Bharti.
New Delhi [India], December 26: Tired of messy chalks and toxic sprays? Picture this: a pest control solution so simple, safe, and effective that it blends effortlessly into your home. That’s the promise of Knoq Away, the innovative startup from Mangalore redefining how we tackle pests in India.
Founded in 2024, Knoq Away is on a mission to replace outdated pest control methods with modern, clean, and hassle-free solutions. Frustrated by the inefficiency and inconvenience of traditional products, Knoq Away sets out to create something different—a product that works, looks good, and is safe for everyone.
Meet the Game-Changer: Knoq Away Anti Cockroach Bait Station
Say hello to a pest control product that truly delivers!
Herbal Power: Made with natural, household ingredients that are proven to keep pests at bay while being safe for your family and pets.
Hygienic & Aesthetic Design: No mess, no powders, no sprays. This bait station is designed to blend into modern homes, making pest control discreet and hassle-free.
Long-Lasting Effectiveness: Unlike sprays that need frequent reapplication, this bait station works over an extended period, keeping your home pest-free for longer.
“Our goal isn’t just to control pests,” says founder of Knoq Away. “It’s to make pest control easier, cleaner, and safer for every Indian home. Knoq Away is more than a product—it’s a whole new way of thinking about pest control.”
What’s Next? A Comprehensive Pest Control Range
Knoq Away isn’t stopping with cockroaches. The company is gearing up to launch innovative solutions for ants, rats, and lizards. These products promise to carry forward the same blend of herbal effectiveness, modern design, and convenience.
Imagine a single brand catering to all your pest control needs—without harmful chemicals or outdated methods. That’s the vision Knoq Away is bringing to life.
Why Knoq Away Stands Out
Modern Approach: Say goodbye to powders and chalks. Welcome a cleaner, smarter pest control experience.
Eco-Friendly Solutions: With herbal ingredients, Knoq Away ensures safety for your family and pets.
Ease of Use: No expertise is needed—just place the bait station and let it do the work!
Future-Ready Lineup: Stay tuned for more products that tackle other common household pests.
A Cleaner, Safer Way to Protect Your Home
If you’re ready to leave behind the messy, outdated pest control methods of the past, it’s time to switch to Knoq Away. With its clean design, sustainable ingredients, and proven effectiveness, it’s more than just a product—it’s peace of mind for your home.
Get started today! Visit them at knoqaway.com or shop on Flipkart, Amazon, and Blinkit.
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‘Quality products at honest pricing’ is almost everyone’s need. Xiaomi has a separate fan base for its high-grade products built with cutting-edge technology at reasonable prices. Xiaomi is a Chinese company that has its major ground in electronics. The company has a presence in over 100 countries and regions and has been hailed as the world’s most-valued tech startup already in 2014. Xiaomi currently ranks in the 70th position on the Top 100 Most Valuable Global Brands in 2021 by Kantar BrandZ.
Xiaomi Mobiles have also gained much popularity in India, which has only seen growth year on year. The company tops the list of the best-selling phones in India. Xiaomi India even made it to the ‘GUINNESS WORLD RECORDS’ by building the largest light mosaic (logo) in the world. It was set by placing 9,690 bulbs and this momentous work is found on the terrace of Xiaomi’s head office in Bengaluru. Here are some more interesting facts and figures about Xiaomi.
This article is all about the journey and functioning of Xiaomi. Know more about Xiaomi and its history, its Founders and Team, origin,Startup Story, background,Business Model, revenue model, IPO,Funding and Investors, Revenue Model, Competitors, and more.
Xiaomi is an electronics company based in Beijing, China. It was founded by Lei Jun in April 2010, and in 2014, Xiaomi was the largest smartphone company in China. Today, Xiaomi is one of the top five smartphone vendors in the world. The smartphone commodities of Xiaomi include different series such as Mi Series, Mi Note Series, Mi Max Series, Mi Mix Series, Mi NoteBook Series, Redmi Series (Redmi 9, Redmi 8, Redmi 9i, Redmi 9a), Blackshark, and Pocophone. Xiaomi has around 291.6 million active users for its MIUI updates. Besides, the company also offers laptops, mobile apps, mobile accessories, wearables, home appliances, and smart-home devices.
In 2019, Xiaomi even started selling accessories such as caps, bags, glasses, backpacks, and also lunchboxes, pillows, cups, filters, umbrellas, and screwdrivers.
In 2018, Xiaomi launched Mi Credit in India for easy accessibility of personal loans. The Xiaomi company also offers various value-added-internet services like ‘Mi Music’, ‘Mi Video’, and ‘Mi Game’.
Lei Jun is the founder, CEO, and President of Xiaomi. The other co-founders are Lin Bin, Dr. Zhou Guangping, Liu De, Li Wanqiang, Wong Kong-Kat, Hong Feng, and Chuan Wang.
Lei Jun is a graduate in computer science from Wuhan University. In 1992, Lei Jun joined Kingsoft, a Chinese software company as an engineer. In 1998, Lei Jun became the CEO of Kingsoft. In December 2007, he resigned from Kingsoft for health-related issues. While he was still working with Kingsoft, Lei Jun founded an online bookstore named Joyo.com. Joyo.com was acquired by Amazon.com in 2004.
After resigning from Kingsoft, Lei Jun became an angel investor and invested in over 20 companies. He still invests in various companies through Shunwei Capital. In 2008, he joined UC Web as Chairman, and in 2010 Lei Jun founded Xiaomi.
Xiaomi co-founder & Vice Chairman, Lin Bin is a graduate in radio electronics and holds a rich experience of working with companies like ADP, Microsoft, and Google. Lin Bin is also a member of the board of advisors of Tufts University School of Engineering located in Boston (USA).
Dr. Zhou Guangping, who has a Ph.D. in Electrical Engineering, worked with Motorola and held various pivotal positions in the company before joining Xiaomi. Dr. Zhou led the hardware and BSP teams at Xiaomi. Currently, Dr. Zhou Guangping works with Motorola as Director of Engineering.
Liu De is an M.S. and an expert in Industrial design. He is the co-founder and Senior Vice President of the company. He established the Industrial Design Department at the University of Science and Technology Beijing. In 2003, Liu De founded ‘New Edge’, an Industrial Design Company. Mr. Liu currently looks after the industrial design and Ecosystem Development teams at Xiaomi.
Li Wanqiang is known as one of the earliest UI and HCI experts in China. He is a former Senior VP/Chief Brand Officer at Xiaomi Corp. After completing his graduation in Industrial Engineering in 2000, Mr. Wanqiang joined Kingsoft, where he led many important and well-known software projects. In 2010 Wanqiang joined Xiaomi as a co-founder.
Wong Kong-Kat graduated in computer science in 1997 and joined Microsoft, where he worked till 2010. Mr. Wong is now in charge of the Mi wifi and Mi Cloud teams.
Hong Feng holds a post-graduate degree in computer science. He started his career with Siebel System as a Lead Software Engineer. In 2006, Mr. Hong joined Google as a Senior Software Engineer. Later he also looked after the development of the various localized products of Google (in China) like Google Music and Google Pinyin Input as a Senior Product Manager at Google China. Mr. Hong now looks after the MIUI division at Xiaomi.
Xiaomi co-founder Chuan Wang is a seasoned entrepreneur. In 1997, Mr. Wang founded Thunderstone Technology, which grew to be the largest VOD (Video on Demand) system provider in China. In 2007 Chuan Wang founded a digital book company named Beijing Duokan Technology of which he is currently the CEO. In 2012, Mr. Wang joined Xiaomi as the co-founder and Vice President. Presently he manages the Mi TV and Mi Box teams at Xiaomi.
Lei Jun founded Xiaomi in 2010, as a software company and created MIUI ROM based on Google’s Android. The idea behind developing MIUI was to offer more functionalities and a better UI than Android. MIUI indeed got the popularity it deserved. As per reports in March 2020, the MAU ( Monthly Active Users) of MIUI increased to 330.7 million worldwide.
In 2011 Xiaomi entered the hardware segment by launching the Mi One phone. The Xiaomi team’s focus has been on creating quality hardware devices and selling them at comparatively lower costs than those available in the market while they intended to make revenue through their services and content. The company today not only sells mobile phones but more mobile apps, wearables, home appliances, and smart home devices.
Xiaomi – Name, Tagline & Logo
The meaning of the word ‘Xiaomi’ is ‘Millet’ and few reports show that it also means ‘Rice’. Lei Jun relates the word ‘Xiao’ to the Buddhist concept that, a single grain of rice is as great as a mountain’, indicating the company’s endurance. “Only for fans” was its tagline before.
Xiaomi Logo
The logo of the company shows the word ‘MI’. It is the abbreviation for “Mobile Internet”, but Xiaomi has mentioned that it can also be read as “Mission Impossible”, representing all the challenges the company has faced so far.
Xiaomi – Funding & Investors
Xiaomi has raised funding worth approx. $7.4 Billion over 15 different funding rounds. Xiaomi went public in 2018.
Date
Stage
Amount
Investors
December 2, 2020
Post-IPO Debt
$855M
–
December 2, 2020
Post-IPO Equity
$3.1B
–
April 2018
Secondary Market
$800K
Qualcomm Ventures
July 28, 2017
Debt Financing
$1B
Morgan Stanely, Deutsche bank, NGP Capital
March 1, 2016
Secondary Market
–
–
April 27, 2015
Funding Round
–
Ratan Tata,DST Global,HOPU Fund,GIC,All-Stars Investment,YunFeng Capital
December 22, 2014
Series E
$1.1B
–
October 29, 2014
Debt Financing
$1B
Goldman Sachs, Credit Suisse, Deutsche Bank, Morgan Stanley, JP Morgan Chase
August 22, 2013
Series D
–
DST Global
June 2012
Series C
–
Morningside Venture Capital
June 2012
Series C
$216M
Morningside Group
December 2011
Series B
$90M
IDG Capital, Shunwei Capital, Morningside Venture Capital
December 2010
Series A
$41 Million
–
Xiaomi – Competitors
Top competitors of Xiaomi include Samsung Electronics, Apple, Huawei, Samsung, OnePlus, and Oppo. Xiaomi sustains its paramount position with constant updates and optimization along with marketing at reasonable prices. Apple and Samsung provide good quality phones but have high prices. Whereas Xiaomi provides a number of features at reasonable prices.
Redmi smartphones are priced at as low as 6000 rupees on Amazon, and Xiaomi continues to have the highest market share for smartphone shipments in India. One of Xiaomi’s strongest competitors is Realme. Realme is a daughter brand of Oppo also coming up with equally great phones like Xiaomi. And thus there is strong competition between Realme and Xiaomi. Motorola and Samsung are increasing the competition. Samsung released the M series where they did focus on value for money without compromising necessary specs.
Xiaomi’s primary source of revenue is from smartphones, the Internet of Things (IoT) and lifestyle products, internet services, and other miscellaneous products and services that the company offers.
A major portion of Xiaomi’s revenue comes from the sale of smartphones. In 2018, the company is reported to have sold 119 million smartphones. Around 25% of Xiaomi’s revenue comes from IoT and Lifestyle products. The company deals in a wide variety of IoT-enabled products like smart TVs, electric scooters, vacuum cleaners, cameras, rearview mirrors, etc. As regards the internet-based services provided by the company, pre-loaded apps and services form a good part of Xiaomi’s revenue. Besides the company offers monthly subscriptions to its TV shows, games, and movies, and also earns by providing advertisement services.
Xiaomi – Growth & Revenue
In the third quarter of 2024, Xiaomi achieved record revenue and strong earnings growth. Total revenue for the quarter reached RMB92.5 billion, marking a 30.5% year-over-year increase. Within segments, the smartphone × AIoT segment generated RMB82 billion in revenue during the same period. Xiaomi has grown in sales and product ranges.
Xiaomi’s Annual Revenue from 2015 to 2023
However, due to the Coronavirus pandemic, the smartphone company saw a decline in the Q1 of 2020. However, Xiaomi has also been declared as the only brand among the top five smartphone sellers, to achieve comparatively sound sales in the first quarter of 2020. It saw a 1.4% YoY from 2019, during the first quarter of 2020.
In 2019, Xiaomi’s total revenue was approximately RMB 205.84 Billion, and gross profit was nearly RMB 28.55 Billion. In the Q4 of 2019, the company’s total revenue grew by 27.1% to RMB 56.5 Billion with an attuned net profit of RMB 2.3 Billion and a 26.5% YoY increase.
“Despite headwinds from the Sino-US trade war and global economic downturn, Xiaomi stood out in 2019 with a commendable set of results as our revenue exceeded RMB 200 billion for the first time. We also celebrated several key milestones, ranging from the successful launch of our dual-brand strategy as Xiaomi and Redmi are spun-off and independently operated, the affirmation of ‘5G+AIoT’ as our strategic roadmap, to our inaugural entries into the prestigious ranks of the Fortune Global 500 and BrandZ’s Top 100 Most Valuable Global Brands” says, Mr. Lei Jun, Founder, Chairman, and CEO of Xiaomi.
According to reports dated September 1, 2021, Xiaomi has revealed that it would not be launching any more of its products with the Mi brand. The Chinese tech giant has decided to withdraw the “MI” name from all their future products.
Market Expansion: Xiaomi aims to open 2 more stores in Singapore by 2025, reaching 10 stores, and expand to 219 sales stores and 143 service centers by 2024.
R&D Investment: The company plans to invest 30 billion yuan (US$4.1 billion) in 2025, focusing on AI, operating systems, and chips.
Electric Vehicles (EVs): Xiaomi is developing smart EVs with advanced features, though it currently faces net losses despite a strong profit margin.
Carbon Neutrality: Xiaomi targets carbon neutrality by 2040 and will transport 2.32 million products via sea and rail in 2022 to cut emissions.
Smart Device Ecosystem: Xiaomi is dedicated to creating a connected world of smart devices.
Xiaomi’s vision is to make quality technology accessible to everyone, i.e., “Innovation for everyone”. The company makes this possible with its high-quality products and remarkable services.
According to reports, Xiaomi has 7 factories in India, four of which are in Andhra Pradesh, two in Tamil Nadu, and one in Noida. As claimed by the company about 99% of Xiaomi phones are produced in India. The company has also started a pilot project whereby the company is exporting Xiaomi phones made in India to Bangladesh and Nepal. Besides smartphones, the company claims that almost 100% of smartphone chargers, USB cables, and batteries are made in India. Xiaomi also has a smart TV manufacturing plant in Tirupati, Andhra Pradesh.
FAQs
Xiaomi company belongs to which country?
Xiaomi is a company based in China.
What is Xiaomi?
Xiaomi is a Chinese multinational company that designs and manufactures smartphones, smart home devices, laptops, and consumer electronics. It was founded in 2010 by Lei Jun and is known for offering high-quality products at affordable prices. Xiaomi also develops software, including its MIUI operating system based on Android.
What is Xiaomi HyperOS?
Xiaomi HyperOS is Xiaomi’s new operating system that replaces MIUI. It offers faster performance, AI features, and better connectivity across devices like phones, tablets, and smart home products.
Which is Xiaomi parent company?
Xiaomi Corporation is its own parent company. It was founded by Lei Jun in 2010.
Nitin Konde
