We are past the worst recession since the Indian independence in 1947, which was due to the COVID-19 onslaught. Though the dreadful pandemic hasn’t taken its exit yet from the country, the Indian market has started to boom with the listing of the shares from a bunch of companies, which certainly looks promising enough!
Zomato, India’s food delivery giant, has already launched its IPO on July 23, 2021, and that too with flying colors. Though the company exhibited a mammoth size of IPO at Rs 9,375 crores, the overall subscription of 38x was quite healthy. At the end of day 1, Zomato witnessed a 66% premium at Rs 125.85.
Zomato, with its successful IPO listing, has certainly been the talk of the town but one another company has parallelly been mentioned if not more. This is Uber, which seems to have largely benefitted with this listing of Zomato, and what is stranger is the fact that it hasn’t spent a single penny in the food aggregator business!
As soon as the Zomato listing closed for the day on July 23, 2021, people began talking about the sudden surge of the market value of Uber stakes. Yes, the market value of the stakes Uber has in Zomato, at the end of the day, was announced at Rs 9,000 crores ($1.2 billion). This baffled many, and even more so, when they heard that Uber didn’t spend a penny for such a fortune it made out of the Zomato IPO.
How did Uber become the gainer in Zomato IPO?
The recent gain of Uber may sound like the company has not spent anything to gain a considerable large sum and in reality, it is so. However, we need to recall that Uber has had its 9.19% shares in Zomato due to the latter’s acquisition of Uber Eats, which Zomato acquired back in 2020 at $206 million.
Along with making over a billion dollars in Zomato’s IPO, Uber also resigned from Uber Eats last year, which was on the verge of being a liability. Therefore, it was truly a win-win decision for Uber!
Looking Back at the Uber Eats Deal of Zomato
Launched in August 2014, Uber Eats started as a food delivery platform, which displayed menus from all the restaurants that were partnered with the app and helped the users order their favorite dishes, much like what we do in Zomato and Swiggy.
However, soon after the launch, Uber Eats started to pick up huge losses. The losses for the company started to pile up even more after the Covid-induced lockdown was announced. Furthermore, the losses of Uber Eats were tied to the overall losses that the cab aggregator was seeing, especially when more than half the world was observing lockdown.
During this time, the subsidiary of Uber had to resort to stringent measures like pay cuts and laying off employees. Uber Eats trimmed down its employee strength by 30% in hope that it would help the company get some gear, but when it failed, Uber thought of selling off its food delivery subsidiary.
It was on January 21, 2020, that the Indian division of Uber Eats was finally sold to none other than the food delivery giant, Zomato, in return for 9.99% stakes in Zomato, which was valued at around $180 million back then.
Who knew that this deal would be so profitable the next year itself?
According to Uber, the “fair value of the consideration” that it received for the Indian business of Uber Eats was $206 million, which included $35 million of “reimbursement of goods and services tax receivable from Zomato.”
Along with Zomato and Uber, the IPO was also a huge benefit for Info Edge, whose stocks saw a healthy rise in price and are currently worth Rs 15,000 crores. Deepinder Goyal, Zomato cofounder’s holdings, which were valued at 2,800 crores also witnessed a rise to Rs 5,500 crores.
Overall, it can be said that Zomato made a robust debut on the stock exchanges on Friday, July 23. The shares of the company started at ₹116 on the national stock exchange (NSE) and represented more than a 51% premium over the issue price of ₹76. Only 16 minutes past its listing, at 10.16 a.m., the market cap of Zomato breached ₹1 lakh crore. An amazing feat indeed!
Stocks of Zomato
Conclusion
Launched in 2008, Zomato was one of the startups that have truly emerged strong, standing as the biggest food delivery services in India, ahead of its arch-rivals, Swiggy, have amassed the strength of the years and is pacing towards a brighter future.
On such a successful first-day run of Zomato, the co-founder and CEO, Deepinder stated, “We are going to relentlessly focus on 10 years out and beyond, and are not going to alter our course for short-term profits at the cost of the long-term success of the company.”
FAQ
Is Uber Eats owned by Zomato?
Yes, Uber sold its India business of Uber Eats to Zomato for a 9.99% stake.
When did Zomato acquire Uber?
Zomato acquired Uber Eats on 21st January, 2020.
Why did Uber Eats left India?
Uber Eats decided to quit its operation in India, to cut its global losses as it was fallen behind to keep up with the competition.
Hyderabad, being the major city of the technology industry and termed as the “City of Pearls”, embraces many budding as well as successful entrepreneurs. If you are an aspiring entrepreneur who is looking for startup investors in Hyderabad, here we have attempted to list down Top Angel Investors in Hyderabad with their Contact, who you can reach out to. Further, get an insight into the Major investments made by them in specific areas.
Before moving ahead to find out Angel Investors contact list, let’s get an insight on How Angel Funding Benefits Startups.
The list of Angel Investors with contact details is as follows:
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Markets Interested: Healthtech, AI, E-commerce, edtech, Technology, Enterprise Software Investments: Medplus, CustomFurnish, SkillPro, Alphabeta, and more.
Srini Koppolu, the Founder and CEO of NewsPlus (Personalized news platform) is a well-known Investor in Hyderabad. He has also served as First President of Hyderabad Angels and made more than 10 angel investments.
During his journey of work in Microsoft as a software engineer, he gained a greater insight into developing innovative products, R&D initiatives, and building a large-scale organization from scratch. He holds more than 20 global patents. After working at Microsoft for 21 long years, he moved out to set up Microsoft India Development Centre (MSIDC), he transitioned this from a start-up to the largest product development Centre outside of US.
Markets Interested: Finance, Technology, Ecommerce Investments: App Virality, Smytten, Alphabeta, and more.
Rimpal Chawla
Rimpal Chawla, Founder and CEO of Anitya Ventures (a boutique investment and business advisory firm), is an active angel investor in Hyderabad for startups. He is the co-founder of Vasisth Relative Value Fund i.e. a SEBI Registered alternative investment fund. He is also the promoter and co-founder of Ninebark Advisors, which is a SEBI Registered investment advisory firm.
He has worked with Global Finance Giants like Credit Suisse, Goldman Sachs, and Citibank, thereby gaining massive experience in investments. Currently, he is the Charter Member of TIE, a member of the Mentor Club at Indian School of Business, Hyderabad for their innovation and Entrepreneurship Program. He also coaches senior corporate executives on strategic business concerns and a Company Valuation course at IIT, Hyderabad.
Markets Interested:Healthcare, Technological, Education, Consumer, and Fintech Investments: Flatpebble, Aarav, Unmanned Systems, DoctorC and more.
Sanjay Jesrani, the Founder and CEO of Go Ventures (Hyderabad-based Investment firm) is an active member of the Indian Angel Network. He holds a Bachelor’s Degree in Commerce and a Fellow Member of ICAI. He was a core member of India and South Asia Hitachi group company CEO Network, and thus being intrinsically involved in the company’s growth strategies. He brings around 20 years of experience from his role as CFO at Sierra Atlantic. Before his joining Sierra Atlantic, he managed his family-owned venture and led his CA Practice.
Markets Interested: Ecommerce, Marketplace, Technology, Consumer Internet Investments: 20Dresses, IndieFolio, and more.
Srinivasa Rao Aluri, the Chairman of Qunu Labs Pvt Ltd is a prominent investor in the Indian Startup ecosystem. He is an alum of the prestigious Yale University and has also served as an MD at Morgan Stanley. The knowledge and expertise that he retains are immense.
Markets Interested: Finance, Marketing, Technology, Big Data, AI Investments: GeneSys Biologics, Crayon Data, Dexter, and CafeX
Vijay Amritraj, the Founder, and CEO of Voila F9 Gourmet (Food & Beverage Company) is an entrepreneur and has experience of over 20 years in the domain of marketing and finance. He pursued his Degree in Commerce from Nizam College and later an MBA from the SIBM, Pune. He was a founding team member at the Global Insurance giants and helped them to launch their India operations. He also experienced leadership roles at Max New York Life Insurance and AEGON Life insurance.
Markets Interested: IT, Agritech, Cloud-based, AI, Consumer Internet Investments: Hotelogix, Exotel, eFarm, and more.
Puru Modani, chairman of the Telangana Fencing Association AdHoc Committee, is an active angel investor in the Indian startups’ ecosystem. He has been an alum of IIM-Kozhikode. He is a well-experienced investor, in the venture capital and private equity industry.
Modani served around a one-year term as a board member at FIIRE (Forum for innovation incubation Research & Entrepreneurship). He has also been a Chief Strategist at Houston Technology Center. Overall, he is skilled in Global Delivery, IT Strategy, Management, Business Relationship Management and Risk Management.
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Markets Interested: Technology, Digital, Food Investments: Invilogic, Silly Monks, Ittisa, Dogsee Chew, and more.
Sreenivasa, the Chairman and MD of Ektha (a technology solutions provider company) is a prominent investor and mentor for startups. He is an alum of BITS Pilani, and by the virtue of his vast experiences, he helps startups in their journey of growth and development.
Markets Interested: Biometrics, Technology, IT, Gaming Investments: SETU Software Systems, InCights, Fortuity Infotech, and more.
He is the founder and Ex-COO of T-Hub, Hyderabad. He is an active and keen angel investor, thereby helping various Indian Startups via funding and mentorship. He has gained over 25 years of experience in product strategy, product management and business development, but according to him, His true passion lies in helping startups scale and to build thriving communities around entrepreneurship. He entails a deeper insight into the global and Indian startup ecosystem.
Markets Interested: Manufacturing, Infrastructure, and FMCG Investments: Cookifie, Flatpebble, Tattva, Wow! Momo, and more.
Abhinav is the owner of GAR Corporation Pvt Ltd, a leading commercial real estate asset creation company. He is an active member of the Indian Angel Network and also the Hyderabad Angels Venture. He is the partner at StartupXseed Ventures, thereby has immense experience in the field of investments and finance.
He completed his Bachelor of Science, Finance, Marketing from Weatherhead School of Management, and OPM from Harvard Business School.
Markets Interested: Edtech, Technology, IT Investments: EngineersHub, BikeShed and more.
Vineel Reddy Pindi, the Founder, and CEO of Collab House (a co-working space provider) has a keen interest in the field of angel investing. He was a core member of TEDxHyderabad.
Markets Interested: Technology and Retail Investments: MARUT Drones, Varaha Studio, and more.
Kiran Darisi is the Co-Founder & VP of Engineering at Freshworks. Prior to Freshworks he worked in Zoho Corporation and Accenture Technology Solutions. He has keen interest in investments. He is an angel investor in multiple startups and also guides entrepreneurs as technical mentor. He is also part of multiple Venture Capital funds.
This was our list of Angel Investors in Hyderabad. If you are an investor, connect with us at shubham@startuptalky.com to get featured in the list.
An angel investor (also knownas a private investor, seed investor or angel funder) is a high net worth individual who provides financial backing for small startups or entrepreneurs, typically in exchange for ownership equity in the company.
How to get Investors in India?
Get Investors In India:-
Create a profile on Angel List.
Prepare a record of Investors to share your ideas with.
Brush up your networking skills.
Have a classy intro.
Tell them why they should invest in your startup.
How much do angel investors invest in India?
The range can be anywhere from Rs. 5 lacs to 2 Crores depending upon the financial risk capacity of the individual.
Did you know 17% of small businesses fail because they lack a business model? Entrepreneurs now are the time to learn about this amazing business model canvas, which will make that stress go away. Here, I have taken the real-life example of Uber for this business model canvas.
A lean canvas and a value proposition are two sorts of business models. These are tools for validating company concepts geared for startups. Both originate from Alexander Osterwalder’s ‘business model canvas,’ which we’ll explore today.
The primary distinction between the business model canvas and the lean canvas is that the business model canvas was developed for well-established businesses to track their efficiency and evolution through time. Startups are the most common users of lean Canvas for product launches.
The business model canvas is popular among entrepreneurs. It’s a risk-detection tool that’s adaptable, intuitive, and value-driven. That’s why it’s commonly referred to as a one-page business plan. The canvas is divided into nine areas, each of which must be filled with specific company information.
About Uber
In the business realm, Uber is a well-known name. Millions of business owners and entrepreneurs have been motivated by extraordinary success, and the trend is expected to continue. This California-based ride-hailing service, which was founded in 2009, has ushered in a huge change by igniting the on-demand economy.
From its humble beginnings, it has come a long way from a basic idea of allowing customers to hail a cab with a single tap to being the world’s largest ride-sharing firm. Uber currently controls over 68% of the total ridesharing market in the United States.
Uber statistics in 2021
According to statistics, Uber undertakes around 1.44 billion rides each quarter. Uber has raised $25.2 billion in fundraising, has over 100 million active customers, 4 million Uber drivers, and a net worth of $95.67 billion. So far, Uber’s success has inspired millions of business owners and entrepreneurs.
The aggregator business model was first introduced to the world by Uber. It operates on a multi-sided platform business strategy that serves as a link between riders and drivers. Simply put, Uber has a two-pronged business model. While it enables clients to hire a taxi with a simple click, it also enables cab drivers to complete their rides on time and safely.
Customer segments
You must determine your most significant customer to whom you are providing value. The persona method aids in the creation of an imaginative portrayal of user categories. There are two types of Uber users: drivers and riders. Each one caters to a specific group of people that are interested in what Uber has to offer.
The first group i.e. drivers are:
Full-time job seekers
Generate extra income
Love to drive
Looking for a flexible work environment
The second group i.e. Users are:
Don’t own cars
Don’t know how to drive
Looking for comfort & luxury
Looking for cost-effective transportation services
Each persona has unique challenges or prerequisites that your product or service can address, and you must specify these in the value proposition section. List as many jobs as feasible that correspond to the needs of your target customer segments.
For drivers, it’s the ability to work flexible hours and earn more money, while for passengers, it’s the ability to pay with credit cards and cheaper prices. Decompose this part into specific chores to be done, customer pains and gains, and relate them to your product value using the value proposition canvas.
Value proposition or benefits Uber offers are:
To drivers:
Ease in getting started
Opportunity to earn
Ease in accessing more passengers
Flexible working schedules
Get paid online
To customers:
Minimum waiting time
Reduced transportation costs
Cashless rides
Safety & security
Upfront pricing
Channel
The communication unit that entrepreneurs use to contact customer segments is referred to as a channel. If you offer your products through a website, that is one of your business model canvas channels. Search engines, social media, and even word-of-mouth marketing are examples of this.
Uber’s channels include:
Website
Smartphone app (android & IOS)
Social media
Google Adwords
Media coverage
Word of mouth
Relationship with customers
The way you interact with customers is defined in this section. Customer interactions included follow-up and feedback after the sale. If you connect with users through a call center or a Chabot, specify it here.
Uber maintains its customer relationship through:
Social media
Customer support
Rating, reviews & feedback system
Revenue streams
You must define the methods by which your company obtains funds in the revenue streams section. They’re usually derived from customer segmentation and value proposition mapping. Uber passengers, for example, use their credit cards to pay for their rides. Uber makes money by charging a commission for each ride. Other revenue streams could include billable add-ons, subscriptions, premium accounts, and so on.
Uber’s revenue streams are:
Car rides per km/mile basis
Surge pricing
Brands like Uber X, SUV, etc.
Divisions like Uber Eats, etc.
Advertising & marketing
Key activities
Now comes the difficult part, key activities cover everything you need to do to make your company work with digital products. This entails continuous product development and marketing. Recruiting, advertising and other such activities are part of these operations.
If you provide certain services, this may include information that can help you improve your capabilities. When filling the key activities portion of the business model canvas, keep in mind the other sections you’ve already completed.
Uber’s key activities are:
Platform development & enhancement
Marketing & customer acquisition
Sales promotion
Hiring drivers
Customer support
Manage driver payouts
Communicate with customers, drivers
Key resources
The assets you require to run your organization at max potential are known as key sources. Uber is based on a sophisticated technological platform. It also needs drivers to support its value proposition. Staff and expertise are heavily relied upon by service-oriented businesses.
Uber’s key resources include:
Network of drivers & riders
Digital platform (website & apps)
Technology talent
Advanced Algorithms & Data Analysis
Brand image
Key partners
You must define any external stakeholders who can contribute to your business in the key partner section. The development of tech platforms can be driven by Uber investors. Drivers can be hired with the help of recruiting partners.
Uber’s key partners are:
Drivers
Investors & venture capitalists
Technology partners
Commercial partners
Payment processors
Map API providers
Lobbyists
Cost structures
You should be able to tell what you spend your money on based on your cost structures. If your enterprise grows, you must also mention future costs. This area includes expenses such as hardware procurement, software development, and rental services.
Attributes that make the cost structure of Uber are:
Customer acquisition costs
Legal & settlement costs
Insurance costs
Research & development
Lobbying & compliance
Platform maintenance
Infrastructure cost
Customer support
After you’ve created your business model canvas, the next step is to analyze it. You have a comprehensive view of what’s going on in your company and can spot bottlenecks. Make sure to share it with stakeholders so that the content may be improved. Also, don’t cling to the canvas’s original version as it is a flexible document.
Uber, like other successful startups, did not become well-known overnight. Their success may be traced back to greater business model innovation, which provides clients with better services at reduced prices. Almost everyone appreciates the services they provide. Uber has transformed mobility for billions of people across the world by arriving on time, conveniently, and safely.
FAQ
Who is the founder of Uber?
Travis Kalanick and Garrett Camp founded Uber in 2009.
Who is the CEO of Uber?
Dara Khosrowshahi is the current CEO of Uber
What is the revenue of Uber?
The revenue of Uber was 1,113.9 crores USD in 2020.
When it comes to life and Mars, what’s better than Elon Musk’s SpaceX? Yes, SpaceX is an absolutely dedicated space organization founded by Elon Musk. The work and agendas of SpaceX towards the exploration of space and manufacturing satellites and rockets for better communication during the exploration.
Elon Musk founded this organization to complete his mission of bringing life to Mars. He holds the vision of bringing humanity to multiple planets in the universe. Besides SpaceX, Elon Musk also founded the extremely popular and successful Electric vehicle and clean energy company, Tesla. His compassion towards both of these prominent companies is Splendid.
SpaceX is the company that is taking aerospace manufacturing to a next level of evolution. The company manages all the aspects required for building rockets and satellites but also, keeps the finances superior over the contemporaries.
Today, SpaceX is a well-established reliable brand that commercializes space-traveling, pretty affordable and fascinating. Although SpaceX is still a private organization, it manages to be incredibly successful in exploring space travel.
With the immense success of SpaceX, people often wonder about the business model of the company. And that’s what we are discussing in this article. Let’s begin!
SpaceX, the incredibly reliable brand which is officially termed Space Exploration Technology Corporation aka SpaceX. The company is an American aerospace producer as well as space transportation services provider, headquartered in Hawthorne, California, United States.
Elon Musk founded this tremendous company in 2002, with the aim of minimizing the cost of overall space transportation and enabling humanity on Mars. SpaceX is known as the first-ever private organization that funded the liquid-propellant rocket- Falcon 1, to reach orbit and successfully recover back.
SpaceX is an enormous part of the space transport industry. The company transformed the industry by minimizing the cost of manufacturing a satellite or rocket and brought back the usage of boosters.
SpaceX is entirely based on three subtle offers, that is, Accessibility, performance, and brand status. These hold the biggest fraction behind the success of SpaceX.
What are the top launch facilities operated by SpaceX?
SpaceX has achieved some remarkable success in the exploration and production of space transportation. The company operates the top four launch facilities, that are:
Cape Canaveral Space Launch Complex 40 (SLC-40)
Kennedy Space Center Launch Complex 39A (LC-39A)
Vandenberg Space Force Base Space Launch Complex 4E (SLC-4E)
Brownsville South Texas Launch Site
Competitors of SpaceX
SpaceX aims to be the first-ever company to operate commercial space travel. The founder, Elon Musk sets the goal to colonize Mars. With its enormous success, the company has dozens of competitors in the market who are willing to finance space travel commercially.
The biggest competitor of SpaceX is Virgin Galactic by Richard Branson and Blue Origin by Jeff Bezos. However, SpaceX is backed by the government of the United States that’s why it ought to be on top.
Target Audience of SpaceX
SpaceX entirely targets the government and few private companies across the globe. The establishment of SpaceX is based on bringing life on Mars, that’s why its ultimate goal is to serve the complete mankind with its mission of space travel.
The first-ever private company that gained the official license from NASA, for launching payloads and humans to space, is SpaceX. The company was founded by Elon Musk in 2002 that makes space travel absolutely affordable. SpaceX follows a very distinct business model along with bold successful strategies.
Elon Musk believes that the only possible way to colonize Mars is to count on endurable and scalable transportation methods. SpaceX is growing tremendously and getting ready to carry people to Mars.
Since 2002, after the launch of the company, SpaceX has performed dozens of space launches. As of 2020, the company launched 26 missions. SpaceX combines a set of distinct sectors such as aerospace suppliers, manufacturers, subsidiaries, and distributors.
SpaceX is working towards developing the next level of space transportation by reusing rockets in order to make traveling possible for people and cargo around the orbit of the earth. The achievements of SpaceX are contemplated as the first for any private company.
How does SpaceX make money?
SpaceX is an extremely successful aerospace company that generates its money by shipping rocket missions to space and directing satellite plans for its clients.
Last year, in 2020, SpaceX sent two NASA astronauts to the International space station through its reusable rocket, Falcon 9. This was known as the first-ever commercial manned launch.
In fact, the company signed 15 different commercial missions, estimated to the worth $80 million per launch. The company would earn around $1.2 billion in revenue through this.
SpaceX aims to launch such a rocket that can carry civilians and travel them in Space. The ticket price for this is yet to be disclosed but the estimated value is above millions.
Moreover, SpaceX sells beta access to Starlink projects at the price of $99 per month with a one-time asset of router and disk at $499. The company has also aimed to expand its internet services to airlines.
Happy to have the support of @SpaceX’s Starlink internet as emergency responders look to help residents rebuild the town of Malden, WA that was overcome by wildfires earlier this month. #wawildfirepic.twitter.com/xUSQOjcT4T
The Space Exploration Technologies Corporation, SpaceX has redefined the whole aerospace manufacturing and space travel transportation services and offers with its incredible technology usage. The company aims to make space travel commercial and minimize the total expenditure on manufacturing rockets and satellites. SpaceX is a globally recognized and well-established company with a distinct business model, which is surely beneficial for investing. Stay tuned for more updates!
FAQ
Who is the CEO of SpaceX?
Elon Musk is the founder and current CEO of SpaceX.
What is the valuation of SpaceX
The valuation of SpaceX is $74 billion as of 2020.
The way the porter adds the shape to the mud and clay is the same way a coach is essential in a student’s life. A coach encourages, inspires, and makes them teach the pros and cons of every aspect present. Although one can individually also learn a lot of new and innovative things, it gets a lot easier with the presence of the coach.
A real motivator, leader, psychologically supportive person is a good coach. Apart from this, maybe the most important aspect is that he becomes a role model. He inspires his followers to bring the best out of them. Hence, an important coach is as essential as wings are for birds to fly.
Effective coaching skills include:
1. Clear and relevant thoughts. 2. Focus on making a solution out. 3. Having a constructive and motivating mindset.
Essential Coaching Skills
But there are some coaching skills, which make a coach from better to the best. Those qualities include:
The action of being aware of or understanding or experiencing the feeling of someone is known as empathy. This is a very sensitive experience and this is one of the characteristics which can help to be a good coach. While dealing with a lot of students and young guys, a coach may come across a lot of students, having emotional turmoil. These students need an empathetic teacher or coach.
Someone who can sit and talk about how they are feeling. Although this characteristic may sound a little abnormal. But in this post-modern traumatic world, it is really important to get the mindset one is going through. Hence it is important to have empathy towards your student and by this, you can get the best out of him or her.
Positivity
Essential Coaching Skill – Positive Mindset
With a positive mindset, one can complete half of his work. A positive mindset encourages you to face every difficulty that you face in your everyday life. And when you deal with students having low willpower and conscience, the coach should have a positive mindset and pump them up, to move forward.
There will also be students messing things up and making mistakes again and again. But as a coach, one must not get irritated. Rather than thinking positively, the coach should rectify the mistakes and deal with the students.
Sincerity
If the coach would not be a sincere one, then from whom would the students get influenced. Being active all through the class, discussing topics with the students, and making an effort to be friendly with them is important. With all this, a coach can acquire the sincerity he or she needs to become a good coach.
If the coach himself would arrive later to the class. If he would start thieving while teaching, then it would create an adverse effect on the students. Which would surely be a negative point to count. Hence, being sincere with the topic and students is also a good character of a good coach.
Proper Guidance
Just teaching the students a lesson and moving out is not what coaching is. Guiding the student while studying and clearing his or her doubts is also very important. Proper guidance includes clearing doubts of the students, interacting with the class while teaching.
It also includes restricting the students from getting on the wrong track. Making them understand what is right and what is wrong. And with all this, comes the complete package of proper guidance.
Proper Communication
In the primary ages, the children are taught to develop communicative skills. While growing up we slowly stop communicating our hearts out. But as a coach, one must have proper communication with his or her students. With proper communication, a tight and strong bond can be developed between the coach and students. This bond helps the students to be friendly with their coach and simultaneously helps the coach to know their students better.
With this, a student will never fear to ask his or her doubts to the teacher. Along with that, he or she can share his or her problems with the teacher, which are haunting him. But this all can start only if a coach becomes friendly, and establishes good communication within them.
Persistence
To remain unchanged or fixed in a specified character, condition, or position is known as persistence. To remain persistent every time is a little difficult, but somehow it is important for becoming a good coach. It is one of the essential coaching skills which one must have by which one can remain stubborn with his decisions. If he or she alters his or her decisions every next second, it would create a bad impact on the students.
Curiosity
If a coach would start thinking that he or she knows everything in the world, then it would just become a shame. No one knows everything in this world. But everyone knows something which others don’t know. Hence here comes the curiosity factor. If a coach would stop being curious then, he would never be able to learn further.
As a teacher one might know something better than the students. But he should always be curious to learn more. He should have that thirst, by which he would make those students feel good and their moral power would be much higher.
Being Innovative
Everyone has their style of teaching. So, we should never try to copy someone’s style or method of teaching. Rather we should always be more innovative. By being more innovative, it would automatically result in making the teaching method more fascinating. The students would have a lot more interest to know more and more of what is being taught.
A new innovative skill of asking questions, a new technique of taking assignments can help in this process. Although it is not possible to be innovative in every way and every time possible, we can try to make something though.
How to be a Good Coach
How to be a Good Coach
The qualities such as empathy, patience, and others are no doubt the most essential coaching skills. Besides these, there are some important points which one must focus on to be a good coach:
1. Maintaining positivity in approaches
2. Listening to the audience patiently.
3. Ready to gain new knowledge.
4. Keeping up the value of clients.
5. Putting up questions.
Apart from all the qualities, one should possess these 5 qualities to be a good coach.
Conclusion
Hence, keeping all this in mind one must never humiliate or criticize a single student publicly. A good coach never places winning as more important than participating. This demoralizes the student’s mind. One should never play favorites and focus on his interested student only. This is one of the worst effects of a coach.
A good coach should always keep the mental and physical health of his students first. He would always stop students from bullying each other. And, with all these do’s and don’ts one can take the positives out of this, on how to become a good coach.
Myntra is India’s favorite shopping platform for customers who believe in quality over perfection. When we talk about fashion and online shopping, the first thing that comes to our mind is Myntra. Myntra in its initial days started selling personalized gift products to the largest fashion site in India. Along the journey Myntra acquired a lot of subsidiaries that helped in growing its business.
Myntra, an Indian e-commerce fashion company is located in Bengaluru, India. The company was launched in 2007 to sell personalized gift items.
Founded by Mukesh Bansal along with co-founders Vineet Saxena, and Ashutosh Lawania. In its initial days, Myntra sold on-demand personalized gift items.
From 2007 and 2010, it mainly operated on the business-to-business model.
Myntra began selling fashion and lifestyle products and moved away from personalization in the year 2011.
By the year 2012, Myntra started offering products from 350 Indian and International brands that are more in demand in the clothing market.
Myntra earns by following an aggregator model. The main business plan of Myntra is to buy the latest merchandise and selling it to the customers. Buying current season merchandise from several popular and quality brands, and making the product/item available on its website. The main earning of Myntra comes from the commission. Myntra follows the B2C (Business to customer) revenue model to generate revenue and increase its sales.
Before discussing its subsidiaries and acquisitions, let us understand what is meant by Subsidiary.
What is a Subsidiary?
A subsidiary, subsidiary company, or daughter company is a company that is owned or controlled by another company, which is called the Parent company, Parent, or Holding company.
The subsidiary can be a company, corporation, or limited liability company.
When company A owns/acquires more than 50% of the voting stock of another company B, then in such circumstances company B becomes the subsidiary of Company A and obtaining control of its operations.
At the time of acquisition by Flipkart, Myntra had a total of 1,50,000 products of over 1000 brands, catering to over more than 9000 pin codes in India.
Ananth Narayanan became the Chief Executive Officer (CEO) of Myntra replacing co-founder Mukesh Bansal in 2015.
On 10th May 2015, Myntra announced to shut down its website to solely focus on serving its customers through mobile applications starting from 15th May 2015. This decision resulted in failure.
Acknowledging the failure of the application-only model, Myntra announced to revive its website in Feb 2016.
Myntra functions and operates independently after the acquisition by Flipkart. Myntra still continues to operate as a standalone brand under Flipkart by solely focusing on fashion-conscious customers.
Flipkart acquired Myntra in 2014
Myntra – Subsidiaries and Acquisitions
Below are the details of the acquisition and deal dates when the deal got finalized.
Company Name
Deal Date
Online Services Pvt. Ltd.
August 01, 2018
Withdraw
April 16, 2018
20Dresses
November 29, 2017
InLogg
April 19, 2017
Jabong
July 26, 2016
HRX
July 20, 2016
Cubeit
July 12, 2016
Fitiquette
April 04, 2013
Exclusively
November 09, 2012
Myntra Acquisitions
The Important and Deal breaking Acquisition under Myntra are:
HRX
Jabong
Fitiquette
Roadster
Here, we’ve tried to mention some of the companies acquired by Myntra, their functioning, and operation under Myntra.
Fitiquette
The company is located in Sans Francisco. Fitiquette is the world’s first virtual dressing room platform that enables online shoppers to virtually try before they buy option. It provides an online shopping experience that is very similar to the offline model like buying from the stores.
The technology used in Fitiquette shows virtual mannequins based on the body types of the users. This can further adjust the specific measurements of the users based on their body until it closely mirrors their own. The unique thing about this technology is that the clothing chosen is represented as the best fit based on a series of measurements. (Example. S, M, L, XL).
Myntra owns the fashion brand Roadster, Myntra’s outdoor lifestyle brand which was launched in December 2012. It generates close to 7% of the total sales.
Myntra’s lead designer for the Roadster brand is the famous Vanni Lenci. Roadster has launched an all-new licensed Roadster MotoGP collection. It is the first Indian brand to enter into an exclusive collaboration with the world’s premier motorcycling championship, MotoGP on Aug 18, 2016.
It is quite surprising that, despite having Deepika Padukone’s “All About you” and Hrithik Roshan’s “HRX” brands in its pocket, Roadster is the biggest moneymaker for Myntra.
Pretr Online Services Pvt. Ltd.
Pretr Online Services Pvt. Ltd. is India’s first-ever end-to-end omnichannel platform for retail. Pretr (prettier) was launched in 2016 by two technology executives Bhavik Jhaveri and Ankur Joshi. Pretr is currently operating from Mumbai, India.
Pretr is a marketplace that provides a seamless shopping experience to customers. It is an efficient selling platform to Fashion & Lifestyle Retailers which include Esprit and Mango. Myntra’s own private labels such as HRX and Moda Rapido uses Pretr’s technology platform. This technology platform helps retailers with a bunch of services, including order management and store analytics.
Jabong
Myntra Subsidiaries Jabong
Xerion Retail Private Limited, also popularly known as Jabong, was a private company that was located in Gurgaon, Haryana. It was launched on 23 September 2011. It was classified as a private limited company. Jabong operated only on online fashion and lifestyle stores. It sold numerous products ranging from clothing, bags, shoes, sunglasses, jewellery, watches, and many more.
Jabong was acquired by Flipkart in July 2016 through its eCommerce unit Myntra for $70 million. Flipkart formally shut down Jabong in February 2020 to shift focus completely on its premium clothing platform Myntra.
Myntra’s Parent company Flipkart Acquires Jabong
Witworks Consumer Technologies Pvt. Ltd.
Witworks Consumer Technologies Pvt. Ltd. is a consumer technology company operating and serving customers across India. Witworks is a maker of wearable devices to strengthen its technology team. The company manufactures wearable products like connected smartwatches, smart shoes, and intelligent clothing with biosensors.
Myntra has kept its image in providing quality products and merchandise. Myntra has always focused on quality with perfection and has kept a steady customer service. Its business is well-maintained which has to lead to the first click to an online fashion destination. Myntra bought Bengaluru-based startup Witworks in April 2018.
HRX
Myntra Subsidiaries HRX
HRX is a 5-year-old brand and platform based on a life philosophy to keep pushing. HRX is India’s first celebrity brand that was founded by Hrithik Roshan who is also the brand ambassador for HRX. It is also India’s first homegrown brand that solely focuses on the sports and active lifestyle space. The brand was founded by Hrithik Roshan and co-founders Afsar Zaidi, Kamal Punwani, and Sid Shah. HRX was acquired by Myntra, the online fashion store owned by Flipkart on Jul 20, 2016. It acquired a 51% stake in HRX.
The company was formed by taking inspiration from Hrithik Roshan’s life. No matter how big adversity, it can be overcome with perseverance. It was created to inspire and guide billions of people. HRX main aim is to help people achieve their fitness goals. HRX is a mission that helps us enable and support people to be the fittest, happiest, and most confident version of themselves.
Myntra is India’s favorite shopping destination where quality meets perfection. If you are the one who wants to explore more before buying, want quality products over price, and looking for well-designed products, then Myntra is the best option for you. Myntra has a huge variety of brands. You don’t need to worry about the quality of the products. As Myntra only focuses on quality and authentic products. The products go through a quality check where the products are thoroughly checked. Myntra’s revenue model is B2C (Business to customer). All the products are only available on Myntra’s platform. The products are genuine and are directly collected from the merchandise stores. Enjoy shopping from Myntra.
FAQs
Myntra is owned by which company?
Myntra is owned by Flipkart. Flipkart is Myntra’s Parent Company.
Does Myntra sell fake products?
No, Myntra does not sell counterfeit products at all. Myntra is an aggregator and seller of products. If someone gets a bit downgraded product from any of the leading brands, consider it as the brand’s product only.
Is Myntra good for clothes?
If you are the one who wants to explore more before buying then Myntra is the best option for you. Myntra has a huge variety of brands.
Why Myntra is expensive?
The one things great about Myntra is – the variety and size availability. They are also the market leaders and that’s perhaps the only reason for the pricing. People do buy at Myntra without even looking at other Portals.
Is Myntra profitable?
Myntra Designs revenue up 58% to Rs 1,719 crore, losses increase by 38% Walmart-owned online fashion retailer Myntra Designs Private Limited reported its revenues for the financial year 2019-20 as Rs 1,719 crore, a 58% jump since the last financial year.
India has a humongous food industry, the sixth largest in the world. Retail startups account for about 70% of the total sales in this segment. According to reports, the food and retail market will be worth $ 828.92 billion by 2020. The food-tech industry is growing rapidly with the emergence and development of verticals like food and grocery delivery, personal chefs, box delivery, and on-demand meals; these are becoming popular day by day. There is a confluence of many successful foodtech-based startups currently operational in India along with several upcoming and promising ones. In this post, we have listed some of the most successful food-tech startups in India.
Zomato | Food Delivery App | Food Chain Startups in India
Zomato is a Gurgaon-based online and mobile app platform for restaurant discovery, ordering, pick-up, and table booking. Zomato was founded by Deepinder Goyal and Pankaj Chaddah in 2008. It is an Indian restaurant- search and discovery service that lets you search from over a million restaurants across the globe and currently operates in 24 countries. The app and website also provide information and reviews of restaurants while allowing users to upload images of the menu items they order as well as the outlet’s pictures.
Zomato also launched a white-label platform where restaurants can create their own apps with customized features and integrate with Zomato’s ‘order and analytical’ support. It also did surprisingly well during the pandemic. The startup has raised a funding of about $673 million from investors such as Glade Brook Capital, Ant Financial, and VY Capital among others.
Location
Gurgaon
Total Funding
$673 Mn
Investors
Sequoia Capital, Temasek Holdings, Glade Brook Capital Partners, Shunwei Capital, Vy Capital, Info Edge, Delivery Hero, Neeraj Arora, Ant Financial, Alipay Singapore, Saturn Shine
Swiggy
Founders: Sriharsha Majety, Nandan Reddy, and Rahul Jaimini
Founded in: 2014
Swiggy | Food Delivery App | Food Chain Startups in India
Swiggy is a Bangalore-based food ordering and delivery venture that provides food services solutions for restaurants.Swiggy was founded by the trio of Sriharsha Majety, Nandan Reddy, and Rahul Jaimini in 2014. Vishal Bhatia is the CEO of Swiggy. They are known to deliver food and desserts from restaurants to its customers in under 40 minutes. The company’s smartphone-equipped delivery personnel provide deliveries to customers through an app that runs on routing algorithms. Customers can also track their orders in real-time. When Swiggy began, it offered free deliveries. Today, Swiggy charges its customers Rs. 30 (average) for a delivery but also provides free delivery on huge orders.
Swiggy currently has more than 5000 employees and operates in eight Indian cities; it has more than 9000 restaurants on its platform. The startup has raised a funding of $1.47 billion from investors such as Naspers, DST Global, and Tencent among others. It aims to stand out by offering a curated list of restaurants and services and has an in-house delivery fleet to pick up orders from restaurants for delivery.
FreshMenu | Food Delivery App | Food Startups in India
FreshMenu is a Bangalore-based restaurantthat works on the concept of cloud kitchen and a go-to for neighborhood food delivery.Itoffers freshly prepared food from cuisines such as oriental, continental, Italian, Mughlai and others. The startup offers a menuthat changes daily and delivers freshly prepared meals at the customer’s doorstep in just 45 minutes. It operates through kitchens spread across the city and owns a delivery fleet.
FreshMenu’s meals are crafted with the finest ingredients comprising farm fresh vegetables, fresh dairy, and meat products. It serves about 12000 orders on a daily basis and its average ticket size is INR 320. The startup was founded by Rashmi Daga who is also the CEO of FreshMenu. The startup has raised $24 million in funds from investors such as Lightspeed Venture Partners and GrowthStory Investments.
Faasos | Food Delivery App | Food Startups in India
Faasos Food Services Pvt. Ltd. is a Pune-based “food on demand” startup. Faasos was founded by Jaydeep Barman and Kallol Banerjee in 2011. It is an online food ordering platform that currently operates in 16 Indian cities and takes customer orders on its mobile app and website. Faasos has an operational model wherein it aggregates different restaurant chains and individual restaurants to deliver a large variety of dishes. It has succeeded in striking a balance between scalability and sustainability.
Faasos services around 18000 orders on a daily basis. The company owns brands like Behrouz Biriyani, Ovenstory, and Kettle & Eggs. It has raised a funding of $80 million from names like Alteria Capital, Sistema Asia Capital, Evolvence India, etc.
Location
Pune
Total Funding
$75 Mn
Investors
Temasek, Goldman Sachs, Falcon Edge and Canadian Pension Plan Investment Board, Lightbox Ventures II, Lightbox Expansion Fund, Sequoia Capital India, ru-Net South Asia, and RB Investments
Box8 | Type: Restaurant Chain | Food Startups in Mumbai
Box8 is a Mumbai-basedIndian quick service restaurant chain. Box8 provides users an online platform to browse through various product menus and place order(s) for home delivery. The app is available on iOS and Android platforms.
The startup has raised $12 million which it utilizes to build technology, expand the team, deepen market penetration, and build a seamless customer experience across its mobile and website platforms. It currently operates in Mumbai, Pune, Bangalore, & Gurgaon. The investor list includes names like Trifecta Capital, Mayfield, IIFL Wealth Management,Seed Venture Fund, and 42 others.
HungerBox | Type: Food Business Solution | Food Startups in India
HungerBox is a B2B food-tech startup founded by Sandipan Mitra in 2007. The startup is a full-stack B2B and F&B (food and beverage) technology venture and delivers food solutions for corporate clients. It currently serves over 100 clients across India and continues to delight them every day with its services.
HungerBox is revolutionizing office food and cafeteria management with the help of the best caterers in the city and through the best in class technology, infrastructure, and robust operational processes without compromising on food quality and food safety. The startup aims to enhance the productivity of food companies (restaurants, delivery startups, etc.) by providing them a technology-based system so that the focus is only on food.
Location
Bangalore
Total Funding
$7 Mn
Investors
Neoplux, Sabre Partners, Kris Gopalakrishnan, LionRock Capital
Curefit | Healthy Food Startup | Food Startup in India
Cure.fit is based out of Bangalore and was founded in 2016 by Mukesh Bansal. Mukesh is also the co-founder of Myntra. Cure.fit is an Indianhealth and fitness venture that offers digital and offline experiences across fitness, nutrition, and mental well-being. It wants to make fitness fun and easy. Cure.fit focuses on preventive healthcare space and enables users to proactively manage their health through various offerings.
Cure.fit provides fresh and tailor-made salads under the brand Eat.fit. It also home delivers fresh and homely food low in carb, high in protein, and includes lots of green vegetables. The focus is on healthy food spanning across Indian cuisine, fusion food, salads, and snacks. Cure.fit has raised $170 million from Kalaari Capital, Aceel Partners, and Oaktree Capital Management among others. Hrithik Roshan is Cure.fit’s brand ambassador.
Location
Bangalore
Founded
2016
Total Funding
$294.6 Mn
Investors
Accel Partners, IDG Ventures USA, Kalaari Capital, Accel, IDG Ventures, Unilever Ventures, Oaktree Capital Management, InnoVen Capital, Kotak Mahindra Bank, Chiratae Ventures, Epiq Capital, Pratithi Investment Trust, Anand Piramal Trust
Magicpin | Coupon Website | Food Startups in India
MagicPin is a coupons website. It provides rewards and cashback to diners. The company was founded in 2015 by Anshoo Sharma and Brij Bhushan. MagicPin has its presence in 16 Indian cities like Delhi, Hyderabad, Chennai, and Pune. With 1.4 million users, the platform drives Rs. 30 crores of monthly sales for partner food and beverage (F&B) chains that include KFC and Hard Rock Café. MagicPin is also exploring two other segments: groceries and beauty & wellness.
Diners can earn cashback if they dine in a restaurant partnered with MagicPin by uploading a photo of the bill along with a selfie with the dish. To increase user engagement, MagicPin uses data from check-ins, recommendations, and reviews in a live feed-style timeline interface. The platform also provides promotional service to restaurants for posting surveys and advertisements.
Location
Gurugram
Founded
2015
Total Funding
$30 Mn
Investors
Lightspeed Venture Partners, Vy Capital, Knollwood Investment Advisory, Google Launchpad Accelerator, Sequoia Capital India
Swadhika Foods | Food Processing Startups in India
Swadhika Foods is an Indian food processing startup headquartered in Chennai. It is a leading supplier and exporter of premium quality frozen IQF fruits and vegetables, and frozen ready to eat/cook foods. Swadhika Foods is accredited to APEDA, USFDA, FSSAI, ISO, BRC, and HACCP to ensure reliability and meeting international food safety standards. Swadhika Foods has a network with the best partners to ensure reliable source, produce, and product.
With people inclining towards better lifestyle, the food-tech industry is booming and evolving at the same time. In the next few years, one can expect drastic change and increase in the number of food-tech companies in India. Do comment if you know about any awesome food-tech startup in India that deserves to be on this list.
Frequently Asked Questions – FAQs
How do you start a food startup?
First and foremost you’ll need to make a solid business plan which will include doing a thourough research in the field! Find out everything you can about your competitors. Then you’ll need to ensure you have enough funds to start off with and sustain yourself for the first couple of months. If it a food tech business you’ll need to build an app or if its a restaurant then you’ll need to secure a location and furnish it. Next you’ll need to get all the licences and permits necessary. Hire a team or choose a logistics partner and get advertising your business! Good Luck!
What food can I make and sell from home?
Food that takes times to perish are the best options. You can make jams, sauces, tea mixes, Cake mixes, cookie mixes and alike will last longer so you will have less food wastage in the long run.
What are some famous food tech startups in India?
You cannot mention food tech startups in India without talking about Zomato and Swiggy. Some other ones are Faasos, Box8, Magicpin, HungerBox to name a few.
From waking up in the morning to going to bed at night, every aspect of our life revolves around numerous brands. From your toothbrush to your salt shaker, we are surrounded by products from different brands; in short, we can’t live without them. Would you like to know some fun facts about the brands that you hear about every day? People and products have a unique tale to tell. Every brand’s backstory is filled with facts one cannot miss!
Through this article, we list out some interesting facts about brands that will leave you in awe for sure. Let’s dive right into them.
40 Jaw-Dropping Brand Facts
Reliance Jio has become India’s most dominant telecom player. It enjoys immense popularity among households and there is at least one person in the family with a Jio connection. Ever wondered about the meaning behind Jio? The word Jio is a mirror image of the word Oil!
Meaning behind Jio Logo
2. We all have purchased something from Amazon some time or the other but rarely do we pay attention to its logo; that curved arrow from A to Z is there for a reason. Well, it’s to tell everyone that Amazon sells A-to-Z products, i.e., items from almost every product category.
Amazon Logo
3. The Facebook color scheme is set to blue because Mark Zuckerberg suffers from red-green color blindness.
4. Candy Crush is one of the most downloaded games today. People obsess over unlocking the next level in Candy Crush. Did you know that Candy Crush brings in more than $633,000 in revenue every day? One’s obsession becomes someone else’s income.
5.Google was initially called BackRub. The research project Sergey Brin and Larry Page undertook at Stanford University was termed BackRub but in 1997, they renamed their search engine to Google because it was a play on the mathematical expression for the number 1 followed by 100 zeros.
6.Pepsi got its name from pepsin, the digestive enzyme. The name Pepsi was chosen because Caleb Bradham, the inventor of the famous drink, believed that his drink was a ‘healthy’ cola that helped with digestion.
7. The retina scan technology of your Apple product is not made by Apple but manufactured by Samsung.
8. To make a perfect pint of Guinness, pour it at an inclination of 45 degrees for 119.5 seconds precisely.
9. The sports brand Nike was named after the Greek goddesses of victory.
10. The word LEGO is formed from the Danish word “Leg Godt” which means ‘play well’ in English. In Latin, it means ‘putting together’.
11. The famous mobile behemoth Nokia started its journey as a wood mill in the Nokia city of Finland. The brand then entered into the rubber products segment. These Interesting Facts About Nokia Will Surprise You!
12. The name VOLKSWAGEN means ‘Peoples Car’ in German.
13. The actor who played the role of ‘Marlboroman’ in the advertisements for Marlboro cigarettes died due to lung cancer, something predictable.
14. The siren logo of STARBUCKS is used to indulge people in the seductive character of the coffee.
Starbucks Logo
15. The key ingredient behind the popular ABSOLUT VODKA is two pounds of winter wheat. Winter wheat is used because of its high starch content. Also, the plant is very sturdy and does not require the use of pesticides and fertilizers. ABSOLUT VODKA does not contain any genetically modified ingredients.
16. The Guinness book of world Records has declared Tupperware as one of the greatest inventions of the 20th century.
17. The McDonald’s outlet near Buckingham place is owned by the Queen of England, so bow before eating your burger there!
18. Napoleon’s wife hired a person namedLOUIS VUITTON to make box covers and pack her luggage.
19. Google hired a camel called ‘Raffia’ to create a street view of the Liwa desert in the UAE.
20. Be careful when you converse with Siri since Apple analyses each statement before processing it.
21. 300 hours of videos are uploaded to YouTube every minute. No wonder you never run out of new content to watch on YouTube.
27. The original name of Amazon was ‘Cadabara’ but was changed soon due to pronunciation issues.
28. Coca-Cola has around 3500 beverages and 500 products under its catalog.
29. eBay has 25 million sellers and 157 million registered buyers. The number keeps increasing every second. Click here to know more of eBay’s interesting & unknown facts.
30. Five IBM employees have won the Nobel prize for their excellent performance in the field of technology to date.
31. BEN & JERRY, famous for its ice-creams, originally planned to be a bagels company.
32. The original name of the famous toy BARBIE is Barbara Millicent Roberts.
33. McDonald’s feeds more than 68 million people every day. This figure outnumbers the United Kingdom’s population.
34. ‘Mercedes‘ is named after Mercedes Jellinek, the daughter of businessman Emil Jellinek who bought Daimler vehicles (the parent company of Mercedes).
35. The nameAdobe came from the river Adobe Creek that ran behind the house of Adobe Systems Inc’s co-founder John Warnock.
36. Burj Khalifa is the tallest building in the world and has been constructed by Samsung.
37. Starbucks has added an average of two stores daily since 1987.
38. Levi Strauss was an aristocrat. He didn’t wear his brand of denim pants because they were meant for the labor class.
39. In 1999 Netflix started offering subscription-based DVD service. Even now around 2.7 Million people subscribe to Netflix’s DVD service. Know more about Netflix’s interesting facts here.
40. LinkedIn has an overall of 675 million users from all over the world, while 310 million of them are monthly active users. 38.6% of the LinkedIn traffic comes from the countries like the US with 38.6% and India with 16.8%. These Facts and Statistics will help you optimize LinkedIn better.
We hope you enjoyed reading these facts. If you know any interesting facts about a famous company or are aware of some amazing backstory behind a popular brand/organization, do comment.
In the world of e-commerce, eBay is one of the most trusted names, everyone believes. The American multinational e-commerce company, founded in 1995 is eBay. It is located in San Jose, California. This multinational e-commerce giant was founded by the half Iranian and half American computer programmer, named Pierre Omidyar. He launched the company on September 3, 1995.
And later with the hard work and eminent success, it became a notable success story. Before knowing some surprising facts about eBay, let’s have a look at its highlights.
However, everyone might be aware of this giant e-commerce site, but a few are only the ones who know some interesting facts about eBay. So, these are some interesting and exciting facts about eBay.
Ebay – It all started in 1995
As they say, everything starts from one point only, it also happened with eBay. eBay was established on 3rd September 1995, as the dream project of a 28-year-old computer programmer. That 28-year-old guy, named Pierre Omidyar. It was when he was working aside his normal job, on an online auction website, for fun. But while designing code for the website, he noticed it started getting great traffic and then he decided to launch it as a business. Later it got renamed eBay.
Surprising Facts about eBay
Ebay – It is the British’s Favorite
Across the whole world, eBay is used in innumerable ways. But it’s the UK where they find this e-commerce site much more interesting. In a survey, it was claimed that around 19 million Brits use it in their day-to-day life. It may be about selling old items, or about buying new products. They prefer to eBay the most for their beneficiaries.
Ebay – First Product sold was a Broken Printer
Every first thing holds its credit. And, like always it is remembered for. The first thing that got sold on eBay was a broken laser printer. For testing purposes, the company owner himself thought of selling the broken laser printer laying around his house. At first, for the first week, it didn’t sell, with a base price of 1 dollar. But during the second week, it got sold for a bidding price of 14.83 dollars.
Ebay – Started with a Yellow Interface
Not everyone would have noticed, but it was a dark and glaring yellow color background used for the interface. It was during the starting days, and it was the original design. But eventually, it changed with time and became white. But later on, with the complaints of the customers, it again got changed to its previous color. But the company changed the color of the interface slowly and subtly with time, which the customers didn’t notice.
Ebay – First thing sold in the UK
As it is mentioned, the British use eBay a lot. And the first item sold in the UK was a Compact Disc. This product was of a German rock band by The Scorpions. Although it was not the original piece, it was a copy of their previous release named “You & I”. This album was released in 1996.
Ebay – A Feedback Score of 1 Million
On November 13, 2008, Jack Sheng became the first person among the multiple ones, to get 1 million feedbacks. It was after 8 years of selling that he achieved this height. Considering the hard work and success, eBay also organized a special shooting star icon. And, then Jack managed to double the number only within 18 months.
Ebay – NASA Bought Machinery
It may sound a little weird and unbelievable, but yes, Nasa even used eBay. The one thing that fascinated Nasa was, one can find everything and anything on eBay. Hence, when they needed some second-hand machinery replacement products, they turned to eBay. And, within no time they got fruitful results.
Ebay – The Most Expensive item sold is a Yacht
Most Expensive Yacht sold on Ebay
A 405 foot, which is 123.4 meters, superyacht designed by Frank Mulder, was the most expensive item sold on eBay. It got sold for a whopping amount of 170 million dollars. Before this, some other items also reached millions, but never got this big. The lucky winner of this bid was a Russian billionaire named, Roman Abramovich.
Ebay – The Naming
At first, it was not the name eBay for this giant multinational company. Well, it may sound a little strange, but this is the truth. Auction Web was the first name given to this site. But later the founder decided to change the name, hence he opted for the name Echo Bay, but this name was already taken. Hence, he shortened it and settled for eBay.
Ebay – A Town for Sale
Bridgeville town for sale on Ebay
Interestingly, a town named Bridgeville, addressed at California, was auctioned for sale, twice on this commercial site. In 2002, it almost got sold for 1.77 million dollars, while the buyer backed out at the last minute. But again in 2006, it was finally sold for an amount of 7 million dollars. The landowner got a profit of three cattle, eight houses, and a minor post office.
Ebay – Some Crazy Items Sold
This is one of the coolest facts about eBay that it sells literally everything one can ever want. Some crazy items ever sold on eBay include a grilled cheese sandwich portrait which was believed to be of the Virgin Mary. It also includes the hair of Justin Bieber and Willian Shatner’s kidney stone.
Ebay – A Hat for a Special Cause
Princess Beatrice hat
To raise funds for UNICEF and children suffering in crises, eBay auctioned the special hat worn by Princess Beatrice. And, positively it also summed up a total amount of 80000 Euros. Then, the price was submitted for further well-being.
Ebay – Discovered a New Life
It is a little strange and unbelievable, but a new life was discovered on eBay. In the year 2006, when someone posted something in the form of a rare sea urchin. The natural history museum noticed this strange and undiscovered species. And later it was named Coelopleurus Exquistius.
Ebay – No limit to sale at once
To date, it is still unclear how many items can be posted at a time. But for the record, it is 800 million, collectively. The simplest selling process and the easily accessible interface make it one of the most used e-commerce sites for a reason.
Ebay – An Auctioneer’s Paradise
As mentioned earlier, it is the auction process that fascinates a lot about eBay. The bidding wars can be performed by anyone and at any point of time, with just a finger-tip, comforting on the couch. Hence, this would always remain as the virtual auctioneer’s paradise.
Conclusion
Hence, it is the convenience and the satisfaction of the customers which has made the company so successful and popular over years. Therefore, one must obviously drop an eye whenever he or she gets some spare time on this site. And find out what this virtual auction house contains in its store.
FAQs
When was eBay established?
eBay was established on 3rd September 1995.
What was the first item sold in the UK?
The first item sold by eBay in the UK was a Compact Disc.
What is the earlier name of eBay?
The earlier name of eBay is Auction Web.
What is special about eBay?
eBay allows to list new or used items for auction fora very low fee. This is the uniqueness of eBay.
Why is it called eBay?
It is called so after the name Echo Bay Technology Group, Omidyar’s consulting firm.
When it’s Ayurvedics products, no one can beat Patanjali. The widely famous Indian consumer goods brand, Patanjali is known to be very promising to the Indians. Patanjali was founded by Baba Ramdev, who is considered the yoga icon, along with Acharya Balkrishna.
Patanjali provides the manufacturing, distributing, and selling of incredible Indian household products. The most prominent thing about Patanjali products is that they are considered entirely natural, using the conventional methods of producing household products. Patanjali offers various consumer goods, minerals, herbal products, and Ayurvedic medicines.
The company was founded in 2006 with an official registered office in Delhi, India. The company’s headquarter is established in Haridwar, Uttarakhand. Patanjali utilizes the best technological method together with conventional prescriptions of Ayurveda and produces absolutely promising and natural products. In this article, we will be discussing the most remarkable business model of Patanjali and its revenue generation methods. Let’s get started!
Patanjali is known to be India’s multinational consumer products manufacturing company, headquartered in Haridwar, Uttarakhand, India. The company was established by Baba Ramdev and Acharya Balkrishna in the year 2006.
Patanjali produces various household products including cosmetics, Ayurvedic medicines, and food products. Patanjali serves various other countries, especially in the middle east and other Indian subcontinents.
Patanjali is known to be the fastest-growing FMCG company across India. As of 2019, the estimated valuation of Patanjali was around $35 billion (Rs. 3,000 crores). The annual turnover of the company is around Rs. 10,216 crores.
With the incredible success of the Patanjali brand, various companies like Colgate, Godrej Consumer, ITC and others, are majorly affected in the market. Patanjali has experienced some very remarkable developments in the market and gained a huge loyal customer base.
Where does Patanjali operate?
The official registered office of Patanjali is established in Delhi, whereas its headquarters is in the industrial areas of Haridwar, Uttarakhand. The company serves many foreign countries as well, especially in the Middle East and the subcontinent of India.
Patanjali has been remarkable with its products and services that’s why the company is growing more immensely towards its expansion in other countries.
Key products of Patanjali
Patanjali manufactures dozens of household products, categorizes them in various segments such as cosmetics, food products, personal care, beverages, and Ayurvedic medicines.
Later in 2018, the company expanded its hands and took over the manufacturing of clothes also. It even opened a store for clothing in Delhi under the brand name, Patanjali Paridhan.
Patanjali entirely focuses on targeting an immense Indian audience. The company provides goods at very low pricing and the influence of Baba Ramdev over the general public, promotes the Patanjali brand more vibrantly. Patanjali targets its audience entirely, without any sub-categories.
Business Model of Patanjali
The business model of Patanjali is based on the FMCG model. The company manufactures herbal and minerals based products and sells them in the market at some very affordable prices. Patanjali holds a huge network with people in its yoga and Ayurveda sector.
The Yoga sector has around 5 lakh branches and 5 lakh mentors in them for its Patanjali Yoga Samiti. Along with this, Patanjali’s consumer goods company gains immense profit. Patanjali has always been upfront for promoting and guiding people for yoga, it even organizes yoga-based camps across the country. Its Yoga network is pretty huge, which brings out great benefits to the goods brand.
Patanjali Yoga Camp
Patanjali’s business model is quite similar to the other FMCG-based companies, where they manufacture the products and sell them. But in comparison to other FMCG companies, Patanjali has experienced incredible growth.
Patanjali has made some remarkable marketing strategies that bring out great outcomes. Now, as we got the idea of Patanjali’s business model. Let’s move forward to how this business model is beneficial and unique for the company.
What is unique about the Business Model of Patanjali?
The most significant thing about Patanjali consumer goods company is that the company is built to provide quality to the customer and not engage with the burden of profit. Patanjali offers products at a very low price as compared to any other FMCG company. The company manufactures its products with the accurate raw materials obtained from the farmers in order to minimize the production cost.
The distributors and the retailers find very low profit through Patanjali products. That’s why Patanjali establishes its retail outlets in various cities and towns.
As being an FMCG company, Patanjali also manufactures the product and sells them. But aside from this, Patanjali has a huge loyal customer base with great marketing strategies in hand.
Patanjali increases its sales and revenue through the means of credible existence in the target base. Patanjali sells its products at some pretty low prices that bring out more reach and sales for the company.
Patanjali holds a very effective revenue generation method through its huge loyal customers base along with an absolutely affordable cost structure, obtaining various marketing tactics. Moreover, the company includes several distribution strategies including:
Patanjali Chikitsalaya: Doctors checkup the health of patients without any charge and recommend Patanjali’s Ayurvedic medicine.
Swadeshi Kendra: The outlets of Patanjali where you can find all the household and non-medicine products.
Patanjali Arogya Kendra:Yoga experts guides for yoga exercises and fitness tips and training for the customers. Also, they suggest various Ayurvedic medicines.
Conclusion
Patanjali is a remarkable FMCG-based company that manufactures incredible household products with great quality at very reasonable pricing. Patanjali prioritizes quality at the top and with such a huge loyal customer base, the company receives great outcomes. Patanjali has been in the market for over 15 years and in these years, the company has experienced incredible success and growth graph. And with time, the company is all set to achieve more heights.
FAQ
What is the revenue of Patanjali?
The revenue of Patanjali is 30,000 crores INR in 2021.
Who is the CEO of Patanjali?
Acharya Balkrishna is the CEO of Patanjali.
When was Patanjali founded?
Patanjali was founded on January 2006 by Ramdev and Balkrishna.
Anagha S
