Chocolates are something that we all love. After chocolates, there is another thing that makes us drool. This is our very own Nutella.
Nutella gives a tough competition to people’s love towards chocolates. Whether you want a spread for your bread or something sweet to eat, Nutella is probably the first name to pop up in the head.
Nutella is a part of chocolate lovers’ favourite company Ferrero. The spread is a specialized mix of hazelnut and chocolate. This simple yet unique combination makes the spread the ultimate love of everyone.
Nutella has been with us for many decades now. Indeed, it is a tried, tested, and lovable brand.
The history of Nutella is quite older than we could think of. Its history can be traced back to the time of World War II. During that time, markets faced a shortage of cocoa.
In Italy, in the year 1946, there was a chef named Pietro Ferrero. He noticed this shortage and decided to do something about it. So, he created a paste mixed with loads of hazelnuts and some chocolate. He then made blocks of this paste and started selling.
These blocks were first cut into slices and then used between slices of bread. The mothers would make sandwiches with these chocolate slices. The children began to love the chocolate flavour. This made these blocks quite popular among the locals.
Pietro then had an idea to make these blocks creamier in texture. A creamier texture would help it to spread easily on the bread. He spent days making certain changes to make it creamier like a spread. The resulting product made was then called ‘Supercrema Gianduja’.
The Birth of Nutella
Michele Ferrero – Founder of Nutella
In the year 1964, Pietro’s son, Michele tried to modify his father’s recipe. He wanted to make certain improvements to ensure the finest quality of the spread.
This was the first time that a jar mixed with rich cocoa and hazelnuts got made. Pietro’s son gave a lot of thought and decided to name it ‘Nutella’.
The names came into existence by combining two words. The first ‘nut’ from ‘hazelnut’ and ‘Ella’, a suffix of positivity. The letter ‘N’ in the logo is in black and the rest of the letters are in the colour red. Ferrero had to keep the letter N in black due to trademark issues. There was another brand that used the name Nutella. So, to keep it different, he changed the colour of the letter ‘N’.
This was the year (1964) when our beloved Nutella came into existence. Since then, this sweet and savoury jar of spread has become a go-to choice for breakfast.
The Global Expansion of Nutella
Global Expansion of Nutella
In the following years, Nutella began its journey on becoming a global brand. In 1965, one year later of its launch, it took over the German market. Then it started its expansion over other markets.
In 1967, Nutella made its Italian television debut. It appeared on a television program, Carosello. This first advertising campaign by Nutella took over the hearts of Italy.
After Italy, Nutella became super popular in France and Germany. The children from various countries began to cherish this delicious spread. This encouraged Nutella to expand itself in more countries.
The brand has used strategic planning for its expansion. It conducts deep research before entering any new market. It considers various factors. These include checking competitors, market space, availability of raw materials, etc.
Nutella was quite sceptical about entering the markets of Britain. The people’s interest there was too invested in another spread named Marmite. But as it’s said, interests can change. Nutella was never a quitter. It created special campaigns, which were specific to the country. At last, it came in Britain’s markets and hereafter outdo Marmite.
The Supply Expansion Problem and Solution of Nutella
As the brand began to become global, the supply of jars increased. Nutella has various plants around the world for its production. There are plants in Canada, Australia, Italy, France, Germany, Russia, and more. The first Nutella plant was established in 1978, in Lithgow, near Sydney. But with increased production, there arose a problem. It was the shortage of supply.
Ferrero uses hazelnuts in large amounts. It was quite predictable that they would not be able to buy anymore as there would not be enough of it. So, the company came up with a patient yet a fruitful idea. It was to plant their trees.
In the 1990’s the process of planting trees began. 6.6 million trees have been planted and more plantations are in their plan. These plantations helped the company get rid of its major future problem. This also created trust among the customers as it ensured the greatest purity.
The Popularity of Nutella
Nutella’s amazing taste and great advertising over time made it popular. It became so popular that there is now a World Nutella Day. It came into existence on 5th February 2007. It’s celebrated every year since then.
The greatest strategy that contributed towards the company’s success is keeping up with the time. Since the earlier times, Nutella has always come up with relatable and trendy advertisements.
Nutella company has always shown happy families enjoying their jar together. This helped it become a family-friendly product. Such ads made people consider Nutella as a jar full of joy.
Keeping up with the Marketing Trends
The company likes to keep up with the new generation’s customers. It was one of the first corporate to plunge into the sea of social media. People liked to share their experiences with Nutella. They were sharing recipes, tweeting, and making videos around it.
In 2014, there were 17 million tweets that contained the term Nutella. People even made YouTube channels about Nutella.
Nutella’s jump into social media proved to be successful for the company. They now create online campaigns to attract more consumers.
In 2014, Nutella company celebrated its 50th anniversary with a global campaign. It was ’50 Years Full of Stories’. In this campaign, Nutella asked its huge fan base to share their experiences or stories with Nutella. By sharing images, texts, or videos, the fans would get a chance to win prizes.
This campaign was a shift from the company’s earlier advertisements. Earlier the company focused on educational and regional specific ads for promotions. However, with the changing times, Nutella’s strategies have also changed and are keeping up with the trends.
In 2024 Nutella launched its new campaign, Always Better Together. The “Always Better Together” Nutella campaign highlights the idea that Nutella enhances every moment, making them even better. The campaign emphasizes that Nutella can make mornings brighter, bring loved ones together, and inspire families to create joyful memories.
Nutella Timeline
1946: Pietro Ferrero creates “Giandujot”, a sweet hazelnut and cocoa paste shaped like a loaf, named after a local carnival character.
1951: The recipe evolves into a creamy spread called “SuperCrema.”
1964: Michele Ferrero, Pietro’s son, refines the recipe and launches it as “Nutella.”
1965: Nutella gains popularity across Europe, starting in Germany.
1966: Nutella was launched in France.
1978: Nutella expands globally with the first production plant outside Europe, in Australia.
1996: 30 years of optimism in France
2005: On May 29, in Gelsenkirchen, Germany, 27,854 people set a Guinness World Record for the “Largest Continental Breakfast Ever” featuring Nutella.
2007: World Nutella Day is established by fans to celebrate the spread.
2011: Nutella’s global Facebook page gained 10 million fans within just one year.
2012: Nutella & GO! with Breadsticks launched in the USA
2014: Nutella marks its 50th anniversary, with events and campaigns worldwide.
2015: Nutella reached 30 million fans on Facebook
2017: On May 31, Nutella opened its first restaurant in Chicago, offering fans a unique experience with a wide menu of delicious Nutella recipes.
2020: The Nutella Muffin were first launched in Italy, it’s now available in Europe and the Gulf.
2023: Since its launch, the Nutella croissant has delighted European consumers with its flaky pastry and delicious Nutella filling.
2024: 60 years of smile!
Conclusion
Nutella, the delicious mix of chocolate and hazelnuts is now a global product. It is not only the good taste but also the company’s great strategies over the years that have made this brand so huge.
Nutella is no more just a jar; it is like an emotion now. It is like a cure for loneliness and sorrows for children and teens. Thus, Nutella has created a huge place in people’s hearts. Now, it is like an absolute leader in the market making every other competitor look inferior to it.
According to the Guinness book of world records, Nutella has also won the title of ‘Largest Continental Breakfast’, where 27,854 people were gathered to celebrate the 40th anniversary of Nutella.
FAQs
Why is Nutella banned?
Nutella has been pulled off from Italian supermarkets over the claims that its ingredients may cause cancer.
Who is the biggest consumer of Nutella?
France is the biggest consumer of Nutella, the factory in Nutella makes 100,000 tons of chocolate spread.
Why is the N in Nutella black?
The letter ‘N’ is in black because there was already a company named Nutella, so Ferrero had to keep the letter N in black due to trademark issues.
What is Nutella logo meaning?
The Nutella logo, with “Nut” in black for trust and “ella” in red for joy, symbolizes reliability, energy, and universal appeal in a simple, modern design.
What is Nutella origin?
Nutella originated in Piedmont, Italy, in 1964. It was created by Michele Ferrero, who refined an earlier hazelnut paste called SuperCrema. The spread was initially made to be more affordable, using local hazelnuts, which were abundant in the Piedmont region, combined with cocoa. Nutella quickly gained popularity and became a global favorite.
When and where was Nutella invented?
Nutella was invented in a town named Alba in Italy in 1964.
Where does Nutella come from?
Nutella is made by first roasting hazelnuts and grinding them into a smooth paste. This paste is then mixed with sugar, cocoa, milk powder, and palm oil to create a creamy texture. The ingredients are blended together until smooth and consistent. Finally, the spread is packaged and sealed for distribution, ensuring the perfect balance of flavor and creaminess that Nutella fans love.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Infra.Market.
A lot of companies put their construction projects on hold as they are expensive and need a lot of time to implement the plan. For a company to successfully implement the construction they have to consider a lot of other things.
Thankfully, given the rise of innovation and technology, some companies deliver construction solutions to help organisations. Infra.Market is one of those companies which ties up with various contract manufacturers to create multi-product building materials through leveraging technology.
Here’s more about Infra.Market’sstartup story, founders and team, its business and revenue model, acquisitions, challenges, awards, and more.
This company is a unicorn in construction solutions that are engaged in creating one of India’s one of its kind multi-product building supplies brands. By utilising technology and scaling innovation, Infra.Market is aiming to revolutionise the ecosystem.
The company has a large product line that includes a diverse selection of construction materials along with lifestyle products that will help in improving many interiors in buildings.
Today, the company is one of the fastest-growing companies in India with quality units in economics and profitability metrics. Infra. Market is India’s only multi-category product brand.
Infra.Market – Industry
Infra.Market belongs to the wholesale building materials sector. The emergence of different sectors like retail, hospitality, entertainment, education, etc has made a major contribution to the growth building materials industry.
The construction and building material industry is estimated to grow at a Compound Annual Growth rate of 1.61% in the next five years. The building material industry today stands at around $240 billion in terms of market size.
Infra.Market – Founders and Team
Aaditya Sharada
Aaditya Sharada, co-founder of Infra.Market
He graduated from IIM, Ahmedabad. He has overall 10 years of experience in the building materials and infrastructure sector. Aaditya founded Infra.Market in 2016 making him one of the founders of Infra.Market.
Souvik Sengupta
Souvik Sengupta, co-founder and CEO of Infra.Market
He is a chartered accountant of having an experience of more than 7 years in P&L ownership and management. Before starting his own company, Infra.Market, Souvik has also founded a couple of companies like Equiphunt and Chemical.Market.
He also serves on the Board of Members at RDC Concrete (India) Pvt Ltd and Shalimar Paints alongside being the CEO of Infra.Market. Souvik Sengupta did his graduation Sydenham College in Mumbai and a master’s degree from IIM, Bangalore.
The company was launched in 2016 by Aaditya Sarada along with with his fellow Souvik Sengupta. After having spent 10 years in the infrastructure and construction sector, Aaditya came to the conclusion that the construction sector is still unorganised.
Aaditya says,
“The sector required a consolidated platform that could simplify and promote the access and usage of materials required across the construction lifecycle,”
To make up for this disorganized sector, Infra.Market was established as an end-to-end construction solution startup. The company takes up the entire procurement process carefully in online mode ensuring transparency in pricing and quality.
Infra.Market is now among the unicorn clubs this year with a more than $2.51 billion valuation.
Infra.Market – Mission and Vision
The tech-based building material startup is making great efforts to become one of the leading sectors across product verticals and wants to deliver a unique platform for its customers in India and overseas.
Here’s what Souvik says,
“Our vision is to provide end-to-end construction solutions and build a national-level wholesale, retail, and eCommerce platform with in-house logistics and warehousing.”
Infra.Market – Name, Tagline and Logo
Infra.Market Logo
The company’s main tagline is “Transforming construction through technology”
The company’s business model is all about the one-stop solution provider for all construction material requirements. They have a comprehensive range of materials that improves the overall levels of the interior.
Infra.Market has technology such as:
B2B App
This app helps customers to visualise the chain of construction materials right from purchase to delivery.
In-Store VR Tech
They also provide AR tech to experience a realistic view inside of the home and to re-imagine home interiors.
Retailer App
This for customers to have easy management of the business and to keep track of things in one place like – purchasing, financing, inventory management, delivery, etc.
Social Commerce
This platform is meant for influencers and freelancers to earn extra income through Infra.Market.
Infra.Market – Revenue Model
Over the years, Infra.Market has earned its revenue through various projects across the nation. They have done projects on Chennai Metro, Delhi Metro, Mumbai Metro, Kochi Metro, NHAI projects, and Delhi-Meerut RRTS.
The company makes profits by giving out solutions on how to improve an infrastructure design. Currently, they have over 4000 retail stores in 17 states in India with operations expanding globally.
Infra.Market – Shareholding
Infra.Market shareholding as of October 2024 (source: Tracxn):
Infra.Market has received a total funding of $726.6 Million over 15 funding rounds.
Date
Funding Round
Deal Amount
Lead Investors
Jul 12, 2024
Debt Financing
$17.78 million
Yubi
May 28, 2024
Venture Round
$50.5 million
MARS Unicorn Fund
Jan 24, 2024
Debt Financing
$12.1 million
SK Finance
Jun 13, 2022
Venture Round
$50 million
Mars Growth Capital
Feb 10, 2022
Debt Financing
$30 million
Navi Technologies
Dec 27, 2021
Debt Financing
$240 million
Avendus Capital
Aug 2, 2021
Series D
$125 million
Tiger Global Management
Jul 7, 2021
Debt Financing
$12.1 million
Alteria Capital
Feb 25, 2021
Series C
$100 million
Tiger Global Management
Jan 13, 2021
Debt Financing
$6.8 million
InnoVen Capital
Infra.Market – Growth
Infra.Market Financials
FY23
FY24
Operating Revenue
INR 11,847 crore
INR 14,530 crore
Total Expenses
INR 11,608 crore
INR 14,272 crore
Profit/Loss
Profit of INR 155 crore
Profit of INR 378 crore
Infra.Market Financials
Infra.Market – Challenges Faced
With having to deal with the construction industry, which is a key part of developing the economic segment of the country, Infra.Market is always surrounded by challenges.
The company contributes about 9% of the country’s GDP, which is a huge responsibility on its shoulders. To keep up with this commitment, they always have to be on their toes.
The competition is massive in the construction sector, with many newcomers coming to compete with them.
Infra.Market – Competitors
Infra.Market competes with the following competitors:
BuildNext
Infra Bazaar
Materialtree
Brick2Wall
Moglix
Power2SME
Zetwerk
Infra.Market – Partnerships
Pepperfry
On October 16, 2024, Pepperfry and Infra.Market have partnered to enhance customer experience by combining offerings. Infra.Market stores will feature Pepperfry products, while Pepperfry stores will offer Infra.Market’s IVAS services. This partnership creates a one-stop shop for furniture, home décor, renovation, and building materials.
Infra.Market – Acquisitions
This startup plus unicorn made its first acquisition in 2021.
Infra.Market, via its parent company Hella Infra Market Pvt. Ltd., is set to acquire a majority stake in Strata Geosystems Indiafor INR 910 crore from Glen Raven Technical Fabrics LLC and other Indian shareholders.
Infra.Market has acquired a Hyderabad-based construction equipment rental service, Equiphunt for a $10 million deal.
Other companies in which they have a 100% stake are RDC Concrete and a 24% stake in Shalimar Paints.
Infra.Market – Awards and Achievements
Infra.Market has won some prestigious awards like:
Accredited with Forbes Tycoon of the Year – 2021
Emerging Company of the Year by Construction World – 2021
Business Excellence Award by BNI CEO Connect – 2019
Fastest Growing Small Business by Small Business Awards – 2018
Infra.Market – Future Plans
The company is trying hard to push technology in the construction sector. The company is planning to take its AR/VR technology worldwide and give a better experience to its users. They aim to expand their 4000 retail stores to more numbers.
FAQs
What does Infra.Market do?
Infra.Market is a B2B startup that sells construction materials.
Is Infra.Market a unicorn?
Infra.Market entered the unicorn club in Feb 2021.
What is the valuation of Infra.Market?
The company has a valuation of $2.51 billion as of December 2024.
Let me ask you a quick question: How do you perceive light? You will say, of course, through your eyes. Excellent, John, that’s correct. The eyes are the only organs in the human body that can detect light, and they identify it before your brain assigns meaning to the information. They can also adjust automatically to varying levels of light; contracting in bright conditions and expanding in low-light settings.
While it may be needless to say, the eyes are vital and require proper care. This need has given rise to a thriving industry, which has grown considerably in the past and is expected to continue to do so in the future – the Eyewear industry.
The eyewear industry has seen a massive transformation in recent years, with the emergence of several new players and the introduction of innovative products. However, one company has remained a dominant force in this field, controlling over 80% of the major eyewear brands – Luxottica. As a global leader in the eyewear industry, Luxottica has been able to enjoy a near monopoly-like status, thanks to its vertically integrated business model and its strategic acquisitions. In this blog, we will take a closer look at how Luxottica has been able to establish and maintain its dominance in the eyewear industry, and the impact it has had on consumers and competitors alike.
“Believe nothing you hear, and only one half that you see.” – Edgar Allan Poe
Poor eyesight has bothered humans since time immemorial. Roman orator Cicero in the history allegedly complained of being dependent on slaves for reading. The first ever lens was ground from quartz in 750 BCE, that is present day Iraq. The ancient Greeks filled glass spheres with water to see clearly.
Arab polymath Ion al-Haytham laid the laws of optics in 1021, it is said. Most agree that spectacles were first made in Pisa, Italy. The first mass production took place on the land of Munaro, Venice.
In around the years of 1440, a smart person named Gutenberg invented the printing press. Which was a hit at that time. It increased the number of books everywhere, making the process of writing and manufacturing books efficient and fast. This made more people read books and more people getting eyesight issues. Which in turn made eyeglasses popular, and the need for reading glasses increased substantially. You can see the cause and effect relation in all these events.
Are you finding history dull? Let’s shift our focus to the present scenario.
Eyewear Industry: Now
While sunglasses are generally used to protect human eyes from Ultraviolet radiation of the sun. Branded corrective glasses and sunglasses are expensive. If you are a person who wear glasses then you would find this relatable. In today’s modern world, when we all are glued to our screens, glasses are a form of necessity.
With the technology boom that the world is witnessing right now, the glasses or eyewear industry is also seeing a massive scale. In this section, we will discuss the magnitude and forecasted studies around the sector.
Global Eyewear Markets
This is a forecast about the global eyewear markets. All the values are in billions, Yes sir billions. The global eyewear market, which is made up of spectacles, contact lenses, sunglasses, and other eyewear products, was estimated to be worth around 140 billion U.S. dollars in 2020 and was forecast to reach a value of 165 billion U.S. dollars by 2025.
Two eyewear executives recently told the Los Angeles Times columnist that quality frames can be made in the range from 4$ to 8$ and if you want designer and customized frames and glasses, that could be made in well under 15$. Then why such a huge markup on price?
According to an IBISworld report, the top four companies manage more than 60 percent of the eyewear industry revenue, following almost a decade of mergers and acquisitions.
These skyrocketing numbers tell one this for sure, that it is one of the hottest businesses out there. The companies providing this product are getting massive and massive. One of the biggest makers of eyeglasses in the world is Luxottica.
Luxottica is a multinational eyewear conglomerate based in Italy. The company was founded in 1961 by Leonardo Del Vecchio and has since become the world’s largest eyewear company, controlling over 80% of the major eyewear brands.
Luxottica designs, manufactures and distributes eyewear for various brands, including Ray-Ban, Oakley, Persol, Vogue Eyewear, and many others. The company also owns retail chains such as LensCrafters, Sunglass Hut, and Pearle Vision.
Italian eyewear behemoth Luxottica is considered to play a dominant role in the glasses industry all over the globe. It is in fact the largest maker of glasses in the world. It owns several big names in this line of products. It signs exclusive manufacturing and licensing deals with in-fame designer names, like that of Prada, Coach, Chanel. It even owns Eyemed, the biggest eyes insurance provider in the world. So, you see quite a big party !
History and Establishment of Luxottica
Leonardo Del Vecchio – Luxottica Founder
Leonardo Del Vecchio, founded Luxottica in Italy in 1961. The name is simply the combination of the Italian words for light (Luce) and optics (Ottica). It manufactured components for the optical industry. Leonardo soon shifted from being a supplier of equipment and components to manufacturers of eyewear. And in 1971 they launched their first line of house-made glasses.
In the 1980s, eyeglasses began to evolve from being a necessary medical device to becoming a fashion accessory. Luxottica recognized this trend and capitalized on it by partnering with various fashion brands. Through these licensing agreements, Luxottica would take inspiration from the fashion brands and design matching eyewear to complement their collections.
Luxottica’s first major partnership in this regard was with Giorgio Armani, the renowned Italian fashion designer, in 1988. Following this successful collaboration, Luxottica continued to acquire other major players in the industry, such as Vogue Eyewear, Ray-Ban, and Oakley. The company also ventured into retail, acquiring Cole National, LensCrafters, and Sunglass Hut.
These strategic mergers and acquisitions have helped Luxottica establish a dominant position in the eyewear industry and expand its offerings to include a vast portfolio of brands and retail outlets.
Geography and Spread of Luxottica
In total the brand has around 9000 stores worldwide. Their owned subsidiary EyeMed has over 28,000 eye professionals and the insurance provider covers 39 millions in America alone.
It has its manufacturing units everywhere, I mean almost everywhere, Latin America, and, of course, its native Italy, as well as manufacturing facilities in the U.S., China, Brazil, Italy, and two units in Japan and India. In 2018, Luxottica had net sales of just under 9 billion euros. That’s about 10 billion U.S. dollars and an increase of 22 percent since 2013.
To put it straight forward: if a brand wants to sell glasses, they want to be on Luxottica’s huge network of stores, and if a store wants to sell popular brands, they’ll want to offer Luxottica products, You know them already, Ray-Ban, Chanel, and Bulgari.
Some argue that Luxottica’s unreasonable size plus power stifles competition and establishes it as a monopoly, causing the whole industry to fester. The profits in this industry are relatively obscene.
To tackle the trend of eyeglasses being expensive, online retailers like Warby came to the rescue. In an interview, Warby’s founder shared a funny anecdote about once forgetting his pair of glasses and thought about the prices of those glasses. It was ridiculous to pay about 700$ for specs. So, with this inspiration he and his brother led the founding stones to build an online retailer for affordable eyewear. It became an instant hit that after opening their first store in 2013, they have grown to more than 90 stores by now.
Brands Under Luxottica
Luxottica has a lot of brands working under this big umbrella organization. The brands we know and which have a strong presence in the luxury items market. We will only speak of the most notable ones like Ray Ban, Vogue, Oakley, Chanel, Coach, Ralph, Prada and Versace and many more. These names are close synonyms to fashion accessories but these are not all where Luxottica has a stronghold.
Luxottica also owns retail brands to sell its products directly to customers. The enlisted brands are – David Clulow, EyeMed, LensCrafters, Sunglass Hut, Optical, Laubman & Pank, Pearle Vision, and more. These brands and retail stores ensure that Luxottica sells the majority of frames they make successfully to the public. Even if you want and try to go with your favourite eyewear brand, there is a good probability that you will be paying your money to Luxottica.
Global Revenue of Luxottica
The above image shows Global revenue of Luxottica, starting from 2007 to 2020. The figures stated are in million euros. This graph is quite evident of the hold that the company has in this product segment.
Infamous Mergers of Luxottica
The company is famous for not only buying retail or fashion stores, it is also known to have had big mergers in the past. These were immensely successful partnering’s that bore fruit to every volunteer in the group.
EssilorLuxottica is an Italian and French vertical integrated multinational corp. It is based in Paris and was founded in 2018 from the merger of Luxottica with the French Essilor. The group designs, markets and produces ophthalmic lenses, equipment and prescription glasses plus sunglasses.
The merger company EssilorLuxottica has a portfolio of licensed brands like Ray-Ban, Oakley, Michael Kors, Varilux, Crizal, and LensCrafters. The company has reported 14.4 billion euros in revenues.
Hype Analysis of Luxottica
The success of the brand is not just because of the big spread that the company has. It is just one factor to the overall success.
Partnering with designers
The initial hype was induced by Luxottica by partnering with designers. In fact it was the first corporation to do so. Successful partnerships with designers like Armani and the like made the company sales go skyrocket. They know how to ride the wave of fashion swiftly.
Ray-Ban stories by Facebook
Ray-Ban Stories
In the recent past, months from now, Facebook partnered with a brand Ray-Ban to introduce “Ray-Ban stories”. They were a sort of smart glasses that could instantly capture moments as videos and pictures to share on social media. These glasses were made keeping in mind the instantaneously sharing of media on social networks. Facebook chose Ray-Ban to partner for the glasses due to their wide reach.
Luxottica Facts
Here are some facts about Luxottica:
It is the largest eyewear company in the world.
The name of the company is derived from the combination of two Italian words, Luce (light) and Ottica (optics).
They were the first to work with designers to turn glasses into accessories of fashion.
They have over 28 eyewear and 19 retailer brands in their portfolio.
Luxottica has a vertically integrated business model, which means it controls the entire supply chain from design and manufacturing to distribution and retail.
Climate change once affected Luxottica eyewear sales in Europe. Reason being late summer.
The company has faced criticism over the years for its dominant market position and for its pricing practices, particularly in the United States.
In 2020, Luxottica was ranked number 76 on Forbes’ list of the world’s most valuable brands, with a brand value of $9.2 billion.
How Did Luxottica Become the Dominant Player in the Eyewear Industry?
Luxottica became the dominant player in the eyewear industry through a combination of strategic acquisitions, vertical integration, brand power, and retail presence.
Aggressive Acquisition Strategy – One of the key factors behind Luxottica’s success is its aggressive acquisition strategy. Over the years, the company has acquired many of the world’s most iconic eyewear brands, including Ray-Ban, Oakley, and Persol. By acquiring these brands, Luxottica was able to capitalize on their popularity and build a loyal customer base, giving it a significant competitive advantage over its rivals.
Vertical Integration Strategy – Another reason behind Luxottica’s success is its vertical integration strategy. Unlike many other eyewear companies, Luxottica controls the entire supply chain, from design and manufacturing to distribution and retail. This means that the company has complete control over the production process, allowing it to maintain a high level of quality and consistency across its products.
Brand Power – Luxottica’s brand power is another factor that has contributed to its dominance in the industry. The company owns some of the most iconic and recognizable eyewear brands in the world, including Ray-Ban and Oakley. By leveraging the popularity of these brands, Luxottica has been able to charge premium prices for its products, further solidifying its position as the dominant player in the industry.
Retail Presence – Luxottica’s strong retail presence is another key factor that has helped it maintain its monopoly in the eyewear industry. The company operates over 9,000 retail stores worldwide, including LensCrafters, Sunglass Hut, and Pearle Vision.
How Does Luxottica’s Monopoly Affect Consumers?
Luxottica’s dominance in the eyewear industry has had a significant impact on consumers. With little competition in the market, consumers are forced to pay higher prices for eyewear, which can be a significant burden, particularly for those on a tight budget.
Critics argue that Luxottica’s monopoly also limits innovation in the industry, as there is little incentive for competitors to invest in new technology or designs when they are unlikely to be able to compete with Luxottica’s economies of scale.
Conclusion
Reading the article above, one thing is clear, Luxottica is a big player in the eyewear industry. Its recent merger with Essilor is making the company stronger. However the FTA (Federal trade commission) tends to be easy going or sympathetic to vertical mergers. Vertical mergers are mergers between two companies at different areas of the supply chain. In this case, Luxottica makes and sells frames whereas Essilor makes and sells lenses.
Senate Democrats condemned the Essilor-Luxottica merger as an example of corporate consolidation gone too far. This merger will further strengthen the hold that Luxottica already enjoys in the market. So surely this merger is getting on some experts’ nerves. This is seen as a group that will almost establish a monopoly in the eyewear industry.
A good thing around all this scenario is that eyewear companies like Warby, are trying to make glasses cheaper for the general public. As it is not a mandate for everybody to go for expensive pairs of glasses or to jump into the fashion line. This will be a game changer for sure in the future as it is already welcomed by the public.
Luxottica will mostly dominate the fashion line with its brands and retail chain. It is forecasted that the corporation will earn billions in this decade, seeing its size and mergers. It is amazing to see a brand as big as this, moulding the industry in such ways, and many people don’t even know about the name. Started with humble beginnings, now it is here. It’s truly an eye opener in the story of spectacles.
FAQs
What does Luxottica do?
Luxottica is an Italian eyewear conglomerate that designs, manufactures, and distributes eyewear products. The company owns many popular eyewear brands and retail stores.
Who is the founder of Luxottica?
Leonardo Del Vecchio founded Luxottica in 1961.
Who is Luxottica biggest competitor?
Luxottica’s top competitors are Specsavers, Pair Eyewear, TJX and FGX International.
What companies do Luxottica own?
Luxottica owns brands such as Ray-Ban, Oakley, Vogue Eyewear, Persol, Oliver Peoples, Arnette, Costa del Mar and Alain Mikli, as well as licensed brands including Giorgio Armani, Burberry, Bulgari, Chanel, Coach, Dolce&Gabbana, Ferrari, Michael Kors, Prada, Ralph Lauren, Tiffany & Co.
How does Luxottica’s monopoly in the industry affect consumers?
Luxottica’s monopoly in the industry can lead to higher prices, reduced access to affordable eyewear, limited innovation and choice, and anti-competitive practices.
Are there any alternative eyewear companies that consumers can turn to?
While Luxottica is the dominant player in the industry, there are still some independent and smaller eyewear companies that consumers can turn to for more affordable and diverse options.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the Times of India.
Many years ago, there was no broadcast facility that happened to land directly at people’s homes. All the news or information was passed down from word of mouth during that time.
It’s quite interesting to imagine how people used to live without newspapers before it even was invented. Thanks to the political and economic chronology of India led to the development of newspapers. Furthermore, the consequences of globalisation and modernisation in the world are what pushed the need for printing news.
We can still see newspaper’s importance and dominance in homes today with our older generation hooked on reading the newspapers. From discussing the type of advertisements on our mini tables at home to becoming a part of hot discussion till late at night, newspapers remain an integral part of our lives and society at large.
As a matter of fact, newspapers have also evolved through these years with the quality of writing, type of news and articles being published and also digitising and the platform where they publish or more commonly known as e-newspapers.
We have seen or read this newspaper since we were born, ‘The Times of India’, which is the second-oldest newspaper in India, and the largest English language selling daily newspaper in the world. That’s quite the achievement the newspaper has maintained till now.
The Times of India also goes by the abbreviation TOI and is owned and managed by the Times Group. TOI came into existence with its first publication in 1838 making it the oldest English language newspaper in India. It is said that the TOI is given an alternative name called ‘The Old Lady of Bori Bunder’, for being the third-largest newspaper in India by circulation.
If newspapers and media are one of your areas of interest, here’s more about the Times of India, how it started and what led to its growth, the key people involved and about its owner, ‘The Times Group’, business and revenue model, challenges faced, competitors, funding and investments, and much more in this article.
Founded in 1838, the Times of India is an English Language daily newspaper and digital news in India. The newspaper publishes various news happening around the world, and articles on the latest issues written by prominent writers in the industry.
Times of India is owned by the ‘The Times Group. The Times Group is the trade name of the company, Bennett, Coleman and Company Limited (B.C.C.L), which is owned by the Sahu Jain Family. With headquarters in Mumbai, Times Group is a multi-media company with products like publishing, broadcasting, radio, films, entertainment, and so on.
TOI claims that every day, one of its 13 editions is read by more than 13.5 million readers. As of 2019, 2,880,144 daily newspapers were circulated as per reports.
The owner of TOI, The Times Group, which includes this business along with its other subsidiaries, also publishes the following publications: Ahmedabad Mirror, Bangalore Mirror, Mumbai Mirror, and Pune Mirror; Economic Times; ET Panache (Monday through Friday in Mumbai, Delhi, and Bangalore; Saturday in Pune and Chennai); Ei Samay Sangbadpatra, a Bengali daily; Maharashtra Times, a Marathi daily; Navbharat Times (a Hindi daily)
Times of India – Industry
Belonging to the media and printing press industry, the Times of India has put itself at the highest rank for selling the English Language daily newspaper in the world.
Today, Indian print media is also dominating alongside digital and television media. According to reports, it is recorded that the Indian newspaper revenue touched Rs 220.5 billion in 2021. At this rate, it is assumed that the growth of the print media industry is only going to go upwards.
Times of India – Key People
Times of India, which is managed by the Times Group is directed by Samir Jain, who is the Vice-Chairman of the company.
Samir Jain
Samir Jain is the Vice-Chairman of the Times Group which manages ‘The Times of India’. He is an Arts graduate from St. Stephen’s College, Delhi. Samir Jain’s parents are Ashok Kumar and Indu Jain. His mother Indu Jain became the Chairperson of Times Group after her husband, Ashok Kumar died.
It was in 1975 when Samir decided to join the family-owned business and started working as a junior executive at the media group Bennett, Coleman & Co. Ltd.
It was because of his leadership skills, that the Times of India regained its potential and made it the world’s largest circulating English newspaper.
Times of India – Name, Logo, and Tagline
The tagline of Times of India, “Let the Truth Prevail” rightly defines the company’s idea about telling stories and giving out information to its readers.
As you can see the logo of the Times of India has two elephants facing each other with a shield in the middle of them. The shield has the petals of a lotus flower and leaves and below them are three sailing ships placed in an inverted triangular shape.
Since TOI originally began as the Bombay Times and Journal of Commerce during the British Raj, Britishers were inspired by the elephants, which are carved at the Ajanta Caves. They wanted to target the Indian audience, which is why they used elephants as they play a very important role in the Indian culture.
Times of India – Startup Story
Started as The Bombay Times and Journal of Commerce
The history of TOI begins 183 years ago as ‘The Bombay Times and Journal of Commerce‘ under the leadership of Raobahadur Narayan Dinanath Velkar. He was a Maharashtrian social reformer, who collected news from the world, as well as the Indian Subcontinent and Britain.
TOI’s first-ever editor was J. E. Brennan. After a few years, Robert Knight, who was an English editor and a critic of the British empire acquired the Indian stockholders’ shares in 1860, merged his publication with his competitor Bombay Standard, and founded India’s first news organisation – Bombay Times and Standard.
After a year, The Bombay Times and Standard were once more united with the Bombay Telegraph & Courier, and it was given the new name The Times of India. That’s how where it began for the ‘TOI’ daily newspaper.
With many struggles, Robert elevated the newspaper to a position of importance across the country by fighting for the freedom of the press against government restrictions. The newspaper gained a lot of appreciation and was widely read in India and Europe. The newspaper employed approximately 800 employees and produced 3000 copies per day in 1890.
Under Bennett, Coleman & Co. Ltd
After gaining so much importance, TOI was acquired by Thomas Bennett and Frank Morris Coleman. They started through their joint-stock company Bennett, Coleman & Co. Ltd. During this ownership, Sir Stanley Reed served as The Times of India’s editor from 1907 to 1924, and played a significant figure in Indian media in early 20th-century Indian journalism.
Post-Independence TOI’s ownership went to Dalmia
The Times of India (TOI) was acquired by Ramkrishna Dalmia of the illustrious industrial Dalmia family after India gained independence from British rule. The deal was closed at ₹20 million, which equals ₹2.4 billion or US$30 million in 2020.
Ten years later, it was found that Ramkrishna Dalmia was caught in legal complications surrounding the acquisition that led to a conviction following which he gave his son-in-law Sahu Shanti Prasad Jain administration of the company.
TOI ownership was, again and again, being transferred due to wrong leadership which happened with Sahu Jain as well.
Government of India’s involvement
A new board of directors was established under the government in 1969 on the authority of the Bombay High Court as a result of numerous misdeeds and business abnormalities. The government finally returned ownership of the newspaper to Sahu Shanti Prasad Jain’s son Ashok Kumar Jain in 1976, during India’s Emergency.
After going through a series of misfortunes, it was finally like a new dawn for TOI in the 21st century. The Times Group expanded with new publications aimed toward a contemporary readership.
The Economic Times and Maharashtra Times began publishing in the 1960s, while The Navbharat Times was established in 1946. The Vijay Karnataka daily was founded in 2006 when Vijayanand Printers Limited was acquired.
Bangalore Mirror debuted in 2007, and Mumbai Mirror did so in 2005. The Bengali daily Ei Samay was first published in 2012, while the Gujarati-focused Nav Gujarat Samay started publishing in 2014.
Times of India – Business and Revenue Model
A newspaper’s development story is inextricably linked to its advertisements. Ever since its inception, TOI earned its money through subscribers and advertisers. The business model of the Times of India is to print news and sell it to the consumers and other is by advertising. It can be safe to say, the TOI business model is Direct-to-Consumer and Business-to-Business.
Early advertisements targeted the upper class, but as time went on, TOI became to represent the average person, and advertisers began to use the company’s advertising services to connect with their target demographic. With editions available throughout India, advertising in the Times of India has become one of the most successful forms of advertising for both private individuals and corporations.
Today, TOI continues to advertise on its digital platforms as well. The company earns a big chunk of revenue from advertising agencies.
In the fiscal year 2019, the company reported a revenue of Rs ₹6,986 crores. However, in 2020, the company declared a loss of net income of ₹451.63 crores for the fiscal year.
Times of India – Funding and Investors
Over the course of two rounds, The Times Of India secured $17M in fundraising. Their most recent funding came from a Venture-Series Unknown round, which was raised in 2006.
Here’s the list of investors of the Times of India.
Date
Funding Round
Amount
Investors
June 29, 2006
Venture Round
$10 million
Sequoia Capital
September 29, 2004
Series A
$7 million
Sequoia Capital India
Times of India – Mergers and Acquisitions
In their entire journey of doing business, The Times Of India has acquired two organizations.
IS Integration was their most recent acquisition, made on 20 September 2006. For $37M, they bought IS Integration. The other one is KeyLabs, which the company acquired on the 25th of April, 2005.
Times of India – Competitors
Here’s the list of top competitors of Times of India:
The Hindu
The Hindustan Times
Deccan Chronicle
Verse
Dainik Bhaskar Group
One India
The Indian Express
Tribune Papers
HT Media
Times of India – Social Media Presence
Having been in the media industry, TOI has not left the social media space for increasing its brand awareness and spreading information through digital mediums. To follow the company’s latest updates and interesting news, you can follow them on Facebook, Twitter, and YouTube.
Times of India – Advertisements and Social Media Campaigns
Times of India has played a crucial part when it comes to advertising and running campaigns. While there are several campaigns organised by the company, it ran a social media campaign called the #WantMyPaper campaign in 2020 that highlights the importance of newspapers in today’s times.
The ‘Want My Paper’ campaign launched by the company aimed at Indians to make them realise the importance of the authenticity of daily newspapers. They emphasised through the campaign how crucial it is for media outlets to support the establishment of accountability through sharp reporting.
Newspapers, unlike digital media, do not restrict people’s access to news categories by applying filters, but instead, they put daily information from a variety of genres directly in the hands of the readers, giving them the chance to be notified without unnatural and fake barriers.
Here’s what Sanjeev Bhargava, Director of the Times of India said, “Newspapers are the guardians of democracy – they keep the public well informed about the important goings-on, and help shape public opinion on key ongoing issues of national interest. With growing scientific evidence that newspapers are safe, and that there’s really no risk of catching an infection from them, our #WantMyPaper campaign is aimed at nudging our ardent readers about what they’re missing out without their trusted newspaper in their hands.”
Times of India – Future Plans
As of now, it is hard to say what the Times of India is planning for the future. The company is the third-largest English Language selling newspaper in India in terms of circulation. After serving the nation for 180 years with the latest news, the company claims itself as still young and energetic, and not as an old and outdated company.
FAQs
When was Times of India founded?
Times of India was founded on 3 November 1838.
Who founded the Times of India?
Ramkrishna Dalmia, an industrialist founded the Times of India.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Hero Moto Corp.
Imagine walking for more than 100km? Imagine you have to reach a place immediately but don’t have a transportation system? Well, thanks to the automotive industries for coming up with motor vehicles. Automotive industries started in the 1860s with many manufacturers beginning manufacturing horseless carriages.
Most of the automotive industries began rising in Europe, and Asian parts, are also contributing to a large extent to the development of this industry.
This Indian multinational motor vehicle manufacturer, Hero MotoCorp Limited is one of the largest two-wheeler manufacturers in the world. Popularly known as Hero Honda changed its name to Hero MotoCorp in 2010. This automotive industry is 38 years old and has its headquarters in New Delhi.
Learn all about Hero MotoCorp’s startup story and its growth, founders and team, business model, revenue model, challenges faced, and future plans.
Hero MotoCorp engages in the manufacturing of motorcycles and scooters. Basically, the company is more into two-wheeler manufacturing, which makes them the world’s largest two-wheeler manufacturer as well as in India.
It boasts of providing its customers with varieties of two-wheelers that are not only comfortable but are aesthetically appealing. The company has eight production sites, including six in India (Dharuhera, Chittoor, Gurugram, Haridwar, and Gujarat) and one each in Colombia and Bangladesh.
As the biggest and greatest bike manufacturer in India and the “World No. 1” two-wheeler firm in terms of unit volume sales in a calendar year, the company earned the most coveted recognition in 2001 and continues to remain till now.
Hero MotoCorp – Founder and Team
The Hero Group, the parent organisation of Hero MotoCorp is founded by Brijmohan Lall Munjal.
Brijmohan Lall Munjal
Brijmohan Lall Munjal, Founder of Hero
Brijmohan was born in Kamalia in 1923, in a district of present-day Punjab, Pakistan. After moving to Amritsar, Brijmohan started selling bicycle parts with his three brothers. After a few years, he transferred to Ludhiana, where he started manufacturing bicycle parts under Hero Cycles Limited.
Quickly, he got the license for manufacturing bicycles from the Government of India with a financial capital of Rs 6 lakhs. He is a recipient of the Padma Bhusan Award by the Government of India in 2005.
He has also received the Lifetime Contribution Award by the All India Management Association in 2011, and the Forbes India Leadership Award for Lifetime Achievement in 2014.
Brijmohan was 92 when he died due to a brief illness on 1 November 2015. He was married to Santosh and has four sons and one daughter.
Brijmohan’s popular quote is, “DON’T DREAM IF YOU CAN’T FULFILL YOUR DREAMS”
Dr. Pawan Munjal
Pawan Munjal, Chairman and CEO of Hero MotoCorp
Dr. Pawan Munjal is currently the Chairman and CEO of Hero MotoCorp. He is one of the most qualified, and corporate leaders who have left his marks on socio-economic growth and technological innovation.
Due to his expertise in the field of leadership quality, he made the company achieve the coveted title of World No. 1 two-wheeler company in 2001 and has successfully retained this position to date for almost 20 consecutive years.
Dr. Munjal holds executive roles in important Indian industry organisations, including the Confederation of Indian Industry (CII) and Society of Indian Automobile Manufacturers, in addition to serving on the boards of other corporations (SIAM).
Besides, he also serves on the Board of members in many other companies namely, Munjal Acme Packaging Systems Private Limited, Pan Mining Private Limited, Indian School of Business, Hero Future Energies Global Limited, Rockman Industries Limited, and Bahadur Chand Investments Private Limited.
Hero MotoCorp – Startup Story
Hero MotoCorp’s history may be traced back to the idea of an independent, mobile India propelled by its two-wheelers.
Initially, it began its operations as a joint venture between Hero Cycles of India and Honda of Japan, which gave birth to the company under the name Hero Honda.
As mentioned, Brijomohan started manufacturing bicycle parts after getting the license from the Government. Soon after, the company got the status of ‘Large Scale Unit’ by making an annual production capacity of 7,500 cycles at that time. The company had grown to be the biggest bicycle manufacturer in India. In 1986, Hero Cycles was listed as the biggest bicycle manufacturer worldwide in the Guinness Book of Records.
After the success of Hero Cycles, Brijmohan decided to establish a two-wheeler company called Hero Majestic Company. Right after the establishment, the company started manufacturing Majestic scooters and mopeds.
Brijmohan entered into a contract with Honda, the largest automaker in Japan, in 1984. This was the beginning of a great partnership as the company set up a factory in Dharuhera, Haryana, alongside Honda. As a result of this, the first Hero Honda motorcycle, ‘CD 100’, hit the market on April 13, 1985.
By 2002, 16,000 motorcycles were produced on a daily affair and about 8.6 million Hero Honda motorcycles had been sold. This is how the company grew by reaching the hearts of millions of people.
Fate took its turn when Hero Group decided to split its ways from the Honda of Japan. The Munjal brothers decided to rename the company Hero MotoCorp in 2011. Even after the renaming, it was reported that the Hero Group would pay out royalties to Honda Company so that it can keep using its name Hero Honda till 2013.
The split was planned in a phased manner. The decision was planned in a way that – Honda’s 26% ownership investment in the JV Hero Honda would be acquired by The Hero Group.
As per reports, in locations of Nepal, Bangladesh, and Sri Lanka, Hero Group was not entitled to export under the joint venture; the termination would allow Hero Group to resume exporting. The Hero Group has always gotten its technology from its Japanese partner Honda.
After going through a lot of rift and differences between the two companies, Hero Group is now free and acts as an independent company. The company is also able to export to other countries like Latin America, Africa, and West Asia.
Hero MotoCorp – Mission and Vision
Hero MotoCorp’s goal now is to become the top two-wheeler firm worldwide by setting standards for design, functionality, and technology.
The company is very clear about its vision and that is “Be the Future of Mobility”.
The mission of Hero MotoCorp is to “create, collaborate, and inspire”. The company is quite firm about its mission to create and set benchmarks in the industry and inspire its co-workers to push the company to a global level.
Hero MotoCorp – Name, Tagline, and Logo
Previously, Hero MotoCorp was named Hero Honda Motors Limited after exiting the joint venture with Honda of Japan in 2011.
Hero Logo
The logo of the newly formed brand was designed by the British firm Wolff Olins.
Hero MotoCorp’s new tagline says, ‘Hum Main Hai Hero’ which means ‘There is a Hero in Every one of us’.
Hero MotoCorp – Business Model
Hero MotoCorp is a public company with a market capitalisation of ₹59,600 crores (US$7.8 billion) as of 2021.
Hero MotoCorp has a business-to-consumer (B2C) model as they manufacture motorcycles and scooters along with their parts.
The company is mostly involved in the design and development of technologically cutting-edge motorbikes and scooters for users worldwide.
Hero MotoCorp leads the path in the manufacturing world: and aims to be ‘A Global Brand’
It boasts of having over 100 million customers worldwide and persists to be on the top by bringing socio-economic progress and empowerment through its range of products and services.
Hero MotoCorp Key Products are:
Motorcycles
Xtreme 200S
Xtreme 160R
Xpulse 200T
Xpulse 2004V (Latest Edition)
Xpulse 200
Splendor+ Xtec
Splendor Ismart
Splendor+ Black and Accent
Splendor+
Passion Xtec
Passion Pro
Super Splendor
Hf Deluxe
Hf 100
Glamour
New Glamour
Glamour Xtec
Scooters
Pleasure+ Xtec
Maestro Edge 125
Maestro Edge 110
Destini 125 Xtec
Destini 125
Hero MororCorp has launched ‘Vida’-, which is an in-house electric vehicle brand of the company. In March 2022, the brand unveiled the electric vehicle to focus more on ‘Green’ sustainability.
The Chairman and CEO of Hero MotoCorp, Dr. Pawan Munjal says,
“Vida means life, and the brand’s sole purpose is to create a positive impact on the world and take us forward in meaningful ways. We believe the name is perfect for what we are building for our children and the next generation.”
The brand has also come up with an official Hero merchandise business.
Hero MotoCorp also indulges in providing service and maintenance for their customers. The company takes good care of its customers’ two-wheeler repair and maintenance through its extensive network of more than 6000 dedicated dealers and service outlets located across the country. The company offers continuous work to uphold its mandate of providing the best level of customer satisfaction.
The company also has workshops that have well-defined standards for servicing two-wheelers, a fully functional infrastructure, a staff of highly skilled service technicians, and quality precision equipment and pneumatic tools.
Hero MotoCorp provides free services for all its two-wheelers. However, for customers to use these free services they have to use them within the allotted time frame or mileage range, whichever is shorter, starting from the date of purchase.
Once the customers have used the free services, they have to continue using premium services following the suggested service schedule after the expiration of the free services or the period during which they were offered.
The foundation of Hero MotoCorp’s manufacturing facilities is sustainable development, as the company is committed to supporting the highest environmental standards.
The company has eight globally benchmarked manufacturing facilities, including six in India and one each in Colombia and Bangladesh.
Hero MotoCorp – Revenue Model
Hero MotoCorp saw a gain of profit of Rs 885 crore in the January-March quarter during the 2020-21 fiscal period in their annual report. However, its revenue from operations saw a decline to Rs 7,497 crore from Rs 8,690 crore in the fourth quarter of the fiscal year 2021. There was also a decline in their net income, which is now ₹2,982 crore (US$390 million).
Hero MotoCorp – Investments and Partnerships
Hero MotoCorp has the majority of investments in synergies. The company has partnered with International and national brands like:
Iconic American motorcycle brand Harley-Davidson
World’s largest battery-swapping network and EV maker Gogoro Inc.
Bharat Petroleum Corporation Limited (BPCL), India’s leading fuel distribution network.
At a Venture Funding round, Hero Motorcorp recently invested Rs 550 crore in Ather Energy on September 4, 2023.
Hero MotoCorp – Acquisitions
Hero MotoCorp has acquired a UK-based transmission technology firm called Hewland Engineering. The details of the sum are still undisclosed.
With this acquisition, Dr. Pawan Munjal says, “This investment represents a significant strategic inflection point for us in the transmission product segment. By combining Hewland’s comprehensive design and analysis capabilities with our ability to support high-volume manufacturing we are strongly positioned to offer full-stream transmission solutions to global OEMs and Tier One suppliers.”
Hero MotoCorp – Challenges Faced
Although Hero MotoCorp is a leading manufacturer of two-wheelers, it still poses tough competition from other competitors both in international and national markets.
One of the biggest challenges for the company is to come up with new products with unique designs. As per a report, Hero’s weakness lies in its lack of innovation that is, most of its products are designed similarly with no knack for new features or designs.
Hero MotoCorp – Competitors
The automotive industry, especially, the two-wheeler segment is one of the most expanding industries today.
The following are the top competitors of Hero MotoCorp are:
Baja Auto
TVS Motor Company
Honda motorcycles and scooters in India
Atul Auto
Hero MotoCorp – Awards and Achievements
Hero MotoCorp has received various awards and recognition.
Awards won by the company in the last few years are:
2020
Motorcycle of the year- Exhibit Auto Tech Awards 2020
Tourer Bike of the Year(up to 250cc) – Flywheel Auto Awards 2020
Business Leader of the Year Awards
Scooter of the year – Bike India
Bike of the Year up to 200 cc – Bike India
2018
Best launch – Two-wheeler at the CNB Auto Expo Awards for Excellence 2018
Highest Ranked Executive Motorcycle In Initial Quality – Hero Super Splendor
Bikesport award of the year – Times Auto Awards
2017
Hero Glamour – Commuter Motorcycle Of The Year – NDTV Car and Bike awards 2017
Indian MNC of the Year by All India Management Association (AIMA)
Manufacturer of the year – NDTV Car and Bike awards 2017
Hero MotoCorp – Advertisements and Social Media Campaigns
In October 2021, Hero MotoCorp launched an ad with a song, “Khushiyon Ko Do Raftaar”. The aim was to spread the message that the customers love to take that extra mile to make someone happy and that Hero MotoCorp is proud to be its customer’s trusted partner.
Hero MotoCorp – Future Plans
Even after having launched new products and taking the green initiative seriously, Hero MotoCorp is doing quite well in the industry by maintaining its status of World No.1.
Here’s what the CEO of Hero MotoCorp says, “This year will see Hero MotoCorp claim its position in the exciting clean mobility space in a bold avatar. Hero MotoCorp will transform its leadership in the internal combustion engine (ICE) market into the electric vehicle space globally.”
The company has also shared that in the FY 2022-23, the company’s recent launch of ‘Vida’ its first in-house Electric Vehicle (EV) will break the market shortly.
The company will develop and build a line-up of EV products, to offer mobility solutions to a diverse customer base around the globe. Hero MotoCorp will continue to invest in capability building, both in-house and through partnerships with global players, to capitalise on their unique strengths, and pave the way for expeditious adoption of sustainable mobility solutions over the coming years.
The company also plans to develop mobility solutions for a broad consumer base around the world. They wish to capitalise on their specific strengths and open the door for a swift uptake of sustainable mobility solutions over the coming years and will continue to engage in capability creation, both internally and through collaborations with global actors.
FAQs
Who is the founder of Hero MotoCorp
Brijmohan Lall Munjal founded Hero MotoCorp in 1984.
What is the revenue of Hero MotoCorp?
The revenue of Hero MotoCorp is US$4.2 billion as of 2021.
What is the business model of Hero MotoCorp?
Hero MotoCorp is a two-wheeler vehicle manufacturing company that manufactures two-wheelers like bikes and scooters.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by IRCTC.
It can be safe to say, the need for catering services is constant throughout the year. The catering industry provides services to millions of customers worldwide through its variety of channels designed to cater to the customers’ needs. Even though event catering is likely the most well-known form of channel, it is not the only one available.
In India, the catering business is tremendously huge and growing. It is not only about weddings and birthdays, but we are talking about the catering services on railways which is also a thing that grabs one’s attention.
Nowadays, the Railway catering services are managed by both the government and some private licensed contractors. IRCTC is the largest government-owned catering service in India today.
IRCTC, the short-form of Indian Railways Catering and Tourism Corporation Limited, is a Central Public Sector Enterprise under the Ministry of Railways, Government of India that provides services such as ticketing, catering, and tourism services for the Indian Railways.
The company was founded in 1999 as an extended business of the Indian Railways to look after the catering and hospitality department at railway stations, in general.
In this article, discover all the information about IRCTC, its highlights, startup story, its business and revenue model, challenges faced, and much more.
Termed the Mini Ratna (Category-I), IRCTC comes under the ownership of the Central Public Sector Enterprise under the Ministry of Railways, Government of India. The company was incorporated with the aim to take over all the catering and hospitality services at every station, and train by creating low-cost accommodations, unique tour packages, informational and promotional materials, and global reservation systems for the development of local and international tourism in India.
IRCTC has its main administered office in New Delhi along with ten regional offices situated at Lucknow, Chandigarh, Jaipur, Bhopal, Ahmadabad, Guwahati, Bhubaneswar, Patna, Ernakulam, and Bangalore. The tourism and ticketing offices are located in New Delhi.
IRCTC is mainly involved in the following activities:
Catering and Hospitality
E-Ticketing
Travel and Tourism
Packaged Drinking Water (Rail Neer)
Currently, IRCTC has its operations located in the following manner,
Fourteen Rail Neer manufacturing plants at
Nangloi (Delhi)
Danapur (Bihar)
Palur (Tamil Nadu)
Ambernath (Maharashtra)
Amethi (Uttar Pradesh)
Parassala (Tamil Nadu)
Bilaspur (Chhatisgarh)
Hapur (Uttar Pradesh)
Sanand (Gujarat)
Mandideep (Madhya Pradesh)
Jagiroad (Assam)
Maneri (Madhya Pradesh)
Nagpur (Maharashtra)
Sankrail (Kolkata)
Eleven Base Kitchens setups at
New Delhi
Howrah
Ahmedabad
Patna
Mumbai Central
Mumbai CST
Ballarshah
Nagpur
Balasore
Sealdah
Kharagpur
Five Zonal Offices at
New Delhi
Mumbai
Kolkata
Chennai
Secundrabad
Additionally, IRCTC also has its services extended globally. They provide hassle-free tour packages to foreign destinations like the USA, Australia, Europe, Russia, Nepal, Macau, China, Hong Kong, Dubai, Singapore, Thailand, Malaysia, and Sri Lanka.
IRCTC – Industry
IRCTC belongs to the Catering and Hospitality industry. It was during the 19th century, that the network of railways began in the country. During that period, traveling was slowly picking up pace as many people started to travel from one part of the country to another, who needed food and drinks for the journey.
Ever since then, the catering and hospitality industry is increasing at a significant rate with the increase in travel by many tourists.
Compared to US$28.9 billion in 2018, the Indian tourism and hospitality industry expects to generate US$50.9 billion in traveler exports by 2028.
IRCTC – Leadership
IRCTC is headed by Smt. Rajni Hasija. She is the Chairman and MD at IRCTC.
Smt. Rajni Hasija
Smt. Rajni Hasija is a science scholar with an M.Phil from Delhi University. A postgraduate in Human Resource Management and a degree in Law, Smt. Rajni Hasija is the whole-time Director of Tourism & Marketing at IRCTC. Along with this role, she also happens to be the Chairman and Managing Director at IRCTC.
Smt. Hasija has over 29 years of experience in Indian Railways and has also worked in many managerial capacities as well as various public sector undertakings. She played a pioneering role in the creation and growth of the railroads’ www.irctc.co.in website for online ticketing facilities.
Smt. Hasija has also successfully completed many time-constrained projects for IRCTC, ranging from planning and executing the dynamic online cum counter ticketing platform for the Commonwealth Games 2010 to international marketing of the Maharajas’ Express Luxury Tourist Train.
She was able to pull this off because of her strong technical knowledge, organising and planning skills, and ability to communicate with her peers and team.
IRCTC – Startup Story
The story of IRCTC began in 1999 when the company was incorporated with the aim of the Ministry of Railways. IRCTC was initially entirely owned by the Government of India, but in 2019 it has been listed on the National Stock Exchange, with the Government still maintaining majority ownership. The government owns about 67% of ownership in IRCTC.
IRCTC is the only enterprise that is authorised to supply specific services to the Indian Railways. They are allowed to offer services such as online ticket booking, catering, and selling of packaged drinking water on trains and at railway stations. It was classified as a Mini Ratna public corporation in May 2008, which gave it some monetary independence.
IRCTC – Mission and Vision
Being in the catering and hospitality industry, IRCTC has developed many CSR activities.
They truly believe in doing for the society, for which their CSR vision is, “To be the leading provider of high-quality travel, tourism, and hospitality related services, for a range of customer segments, with consistently high level of customer satisfaction.”
IRCTC – Name, Tagline, and Logo
IRCTC means the Indian Railway Catering and Tourism Corporation Limited. The name rightly tells us the work they do that is providing catering and hospitality services to every railway station across India.
The tagline of IRCTC says, “Lifeline of the nation”
The logo of the IRCTC displays a combination of blue and grey symbols, which means pan-India connectivity of railway networks.
IRCTC – Business Model
IRCTC business is divided into four main services – hospitality and catering, online ticket booking for flights, trains, and buses, tour packages for both national and international places, and providing packaged drinking water under the label Rail Neer.
Here’s an in-depth dig into the business operations of IRCTC:
IRCTC boasts of being one of the largest hospitality and catering companies in the county. The catering business of IRCTC scatters across every passenger train in India, railway stations, and in and around the station premises.
The hospitality and catering business is split into three parts:
Mobile Catering Business
IRCTC oversees all of the Indian Railways’ onboard catering operations in more than 460 passenger trains with pantry cars, including the Rajdhani, Shatabdi, Duronto, Gatimaan Express, Mail/Express, and recently introduced Vande Bharat Express, and Tejas Trains.
In all of these trains, the pantry carriages are installed from which they get their onboard catering services.
Other Catering Services (OCS)
Under this service, its business is divided into two categories:
Static Catering Businesses
Under this business, IRCTC has static catering businesses as well. It’s amusing to know that IRCTC also indulges in managing Train side vending (TSV) on Mail/Express and Superfast trains that do not have the option of pantry cars.
With the help of TSVs, the onboard merchants take orders from the customers who have been offered with the menu chart. After the prescribed order is confirmed, the food is then picked up by vendors at the designated “meal pick-up places”, and it is then given to the passengers.
Base Kitchens
Another static business of IRCTC is Base Kitchens. The Ministry of Railways upgraded a total of 46 base kitchens with the object of producing high-quality meals for every one of its customers on trains.
These kitchens are in process and will be equipped with modern technology. Furthermore, the Ministry of Railways is soon going to activate CCTC cameras for live streaming in the public domain along with QR code facilities on meal packets.
Besides these two static businesses, IRCTC is also involved in other ancillary business activities. They have Food Plazas, fast food units, cell kitchens, and refreshment rooms.
Other Hospitality Businesses
IRCTC has also introduced other hospitality businesses like:
Executive Lounge
The idea is to provide and cater to the demands of the mid-segment and high-end passengers. It wanted to build a comfortable place inside the railway stations to dining in hygienic surroundings. The company took inspiration from airport lounges, it has already opened eight Executive Lounges in the Railway Stations mainly at the New Delhi (Paharganj Side & Ajmeri Gate side), Agra Cantt, Jaipur, Ahmedabad, Madurai, Sealdah, and Varanasi. Some of the other facilities provided at these lounges are wifi services, reclining sofas to relax, shower facilities, etc.
Retiring Rooms
IRCTC has already established retiring rooms at 19 railway stations. Furthermore, there are many rooms, which are under construction right now. The concept of these rooms is to enhance the accommodation facilities for the travelling passengers.
Rail Yatri Niwas/BNR hotels
At present, there are two Rail Yatri Niwas at New Delhi and Howrah railway stations and two BNR Hotels at Puri, Odisha, and Ranchi, Jharkhand.
E-catering Business
The most recent expansion of IRCTC’s catering and hospitality operations is E-Catering. This new business by the company is a combination of technology and cuisine.
With the help of a smartphone application, customers can order food from participating restaurants and food outlets using this internet-based service while riding a train. The passengers’ seats or berths are where food is delivered. To enjoy the service, customers have to book in advance.
Online ticket or Internet Ticketing
IRCTC launched its internet ticketing facility in 2002, and ever since then, IRCTC has made the lives of many travellers easy and convenient.
As per data and survey, there have been 15.88 lakh e-tickets booked as of 21st March 2022.
This proves that the company has emerged as one of the largest e-commerce websites not in India but also in Aisa Pacific.
Tourism business
Apart from just catering and hospitality business, IRCTC has put its benchmark in the tourism department as well. The company has played a majestic role in the development of rail tourism in India.
With its website www.irctctourism.com, the company offers a myriad of options Rail based Packages, Hotels, and Railway Retiring Rooms to provide the users with a one-stop solution to all their travel needs.
By 2015, IRCTC started giving tour packages that include flight booking, hotel accommodation, sightseeing, etc. These packages are meant for both national and international trips.
One of the most unique services provided by IRCTC is the Land Packages. These packages are meant for those customers who are interested in visiting temples for darshans, more commonly for teertha darshan.
It also offers air ticketing, and bus ticketing and has now also ventured into cruise bookings targeting both domestic and international markets.
Packaged Drinking Water
Another major business of IRCTC is manufacturing packaged drinking water known as Rail Neer. Rail Neer is the company’s own branded packaged drinking water.
Presently, the company has fourteen operational manufacturing plants of Rail Neer. These are located at Nangloi, Danapur, Palur, Ambernath, Amethi, Parassala, Bilaspur, Sanand, Hapur, Mandideep, Nagpur, Jagiroad, Maneri, and Sankrail. In addition to this, the company is planning to set up six other plants to increase the production capacity of 18.40 lakh bottles per day in FY 2021-22.
IRCTC – Revenue Model
IRCTC’s most of its earnings are through its internet ticketing facility. The company has reported that a total amount of Rs. 38178.32 crores was collected as ticket fare from the users of E-ticketing during the year 2021-22. It has also been shared by IRCTC that the total number of tickets booked was 4174.49 Lakhs, which is 140% of the previous year.
IRCTC gets 63% from e-ticketing, 22% from the catering business, 8% from Rail Neer, 7% from tourism, and the rest from State teertha.
IRCTC – Challenges Faced
In 2016, there was a case against the IRCTC by the Mumbai police for not maintaining its customers’ data. The allegation was that the company was involved in leaking the private data of its 10 million customers.
The company also faced criticism that there were data breaches and exposures, and there are worries that the government may have utilised passenger information to transmit targeted advertisements.
Another challenge faced by IRCTC was during the 2020–2021 Indian farmers’ protests. The company was criticised for sending emails without its customer’s content.
The email advertised the benefits of government policies to Sikh farmers who are protesting under the subject “PM Modi and his government’s special relationship with Sikhs”. Later, it was found that these emails were sent to promote government messages.
IRCTC – Partnerships and Collaborations
Earlier this year, IRCTC announced that it has partnered with Paytm to digitise its ticketing system for customers through its Automatic Ticket Vending Machines (ATVM) installed at every railway station. Its online ticketing system now has QR code digital payment solutions.
On 21 February 2022, IRCTC collaborated with the Bank of Baroda to launch IRCTC BOB Loyalty Cobranded Credit Card on the RuPay platform.
Previously, it has also collaborated with SBI to come up with a travel credit card called IRCTC Rupay SBI card. The credit card gives access to various benefits like railway lounges, travel offers, rewards, and many other benefits.
IRCTC – Mergers and Acquisitions
As per sources, the Central government is planning to merge the six public sector undertakings (PSUs) by the end of 2023.
The companies which are likely to be merged are Rail Vikas Nigam Limited (RVNL) with Indian Railway Construction Limited (IRCON), RailTel Corporation with Indian Railway Catering and Tourism Corporation (IRCTC), and Braithwaite and Co Limited with Rail India Technical and Economic Services (RITES).
The Ministry of Railways hopes to get better funding and boost the overall value of these PSUs with this merge.
IRCTC – Social Media Presence
The IRCTC does strong advertising and branding on its social media profiles. The company does seem to be quite active on its social media channels by posting various interactive and informative posts regarding its services.
You can follow the company for its latest updates on its Facebook, Twitter, and LinkedIn page.
IRCTC – Competitors
The tourism and hospitality sectors are swarming in the Indian market, which of course, gives rise to tough competition between these companies. IRCTC is not alone in the catering business, many other companies give a tough fight. IRCTC competes with the following companies:
Interglobe Aviat
Delhivery
Indian Hotels Co.
Blue Dart Expres.
Devyani International Ltd.
Easy Trip planners Ltd.
Westlife Development Ltd.
Sapphire Foods
TCI Express
Chalet Hotels
Restuarant Brand
Lemon Tree Hotel
NIIT
Mahindra Holiday
Thomas Cook
ITDC
SpiceJet
IRCTC – Awards and Achievements
Throughout its journey, IRCTC has come a long way in receiving many achievements or milestones to take its catering and tourism services to newer heights.
Some of the achievements of IRCTC are:
IRCTC launched a new e-Ticketing Website & Mobile App for the booking of online Railway Ticket (2020)
A payment wallet named iMudra provides an easy way to book railway tickets, and pay, send or withdraw money. (launched in 2019)
Launched the first semi-private Train ”Kashi Mahakaal’ inaugurated by Prime Minister Narendra Modi (2020)
Launched second semi-private train ”Tejas” between Mumbai and Ahmedabad (2020)
Launched Tejas Express from Mumbai CST to Karmali, Goa (2017)
IRCTC – Future Plans
IRCTC has shown great results in the stock market. Many experts believe that the company is planning to grow exponentially. It is expected that stocks would grow from Rs 3,000 to Rs 5,000 stock level. As of 2021, the market capitalisation of IRCTC is Rs63,726 crore.
From the looks of this tremendous growth, the future of IRCTC seems bright. It is also assumed that with the rise of internet usage, the company will see a growth in its online ticketing business at a CAGR of 17% in the coming years.
He dared to dream, and dream big. And then he decided to do it. And how!
At the young age of 26, he carved out a niche for himself that most dream of doing. He built a Rs 4 crore tea empire that continues to grow under his leadership.
Who is he, you ask? He is Prafull Billore, the man behind the hugely successful brand MBA Chaiwala. His story is as unassuming as the man himself.
Prafull is the older son of Sohan Billore and his wife. He was born in Dhar, Indore, Madhya Pradesh on 14th January 1996. Not much is known of his childhood or his family. However, in his interview, Prafull mentions that he grew up in modest circumstances. It was his parent’s wish that he completes his MBA in order to secure a high-paying job.
Prafull tried hard to fulfil his parent’s wish and even attempted the CAT (Common Admission Test) in order to secure admission into IIM (Indian Institute of Management) at Ahmedabad. He was unsuccessful and, well, uninterested. After three failed attempts at clearing CAT, he gave up on formal education.
Prafull Billore – Career
“I wanted to be a big man. Bachpan se bahut tang samay dekha tha (Have seen tough times since childhood), and so my only passion was to make more money and live a comfortable life.”
Prafull readily admits that his aspirations did not lie with his parents. As a young man of 20, he was still struggling to understand what he could do. He travelled to various cities in India which gave him the opportunity to meet people from diverse backgrounds.
Meeting and talking to them gave him many insights. He read success stories about American businessmen like Jeff Bezos and Richard Branson. Prafull realized a common thread between these people. All of them, at some point in their lives, had worked for McDonald’s.
Prafull joined McDonald’s in Ahmedabad and earned Rs. 300/- a day. His interactions with customers there were educational. Says he, “I also took a part-time job at McDonald’s to see how it feels to work. The salary was not much and it made me think “aise bada aadmi kaise banunga, MBA ke baad bhi aise he kaam karta rahunga (how will I become a big man if even after MBA I’d work like this}?” Although Prafull quickly rose up the ranks from the housekeeping staff to the cashier, he was not satisfied.
Prafull began exploring business opportunities and quickly realized that most businesses asked for a very high initial investment. An amount that he did not have. So, he settled for a simple plan.
He decided to start selling tea. He called his father and borrowed Rs. 8000/- from him under false pretences. He, then, invested that money towards buying the inventory that he needed to start a small roadside tea shop. All the while, he kept his day job working at McDonald’s.
Prafull says he is not a tea drinker and he had no idea how to make it. The first day that he made tea, he could not sell a single cup. Not one to give up, he came up with a plan. The next day, he began approaching people, engaging them in conversation.
Praful Billore selling tea
The fact that a roadside tea seller was speaking fluent English was fascinating for people. To top it up, Prafull was serving tea in earthenware cups with a slice of toast and tissue paper – a complete antithesis to the image of a regular tea seller. Soon he became the talk of the town. His tea was becoming famous, as was his conversation.
His growing fame came at a price. The other tea vendors in the surrounding area were unhappy with the new kid on the block. They conspired to close his operations and resorted to bullying and threatening Prafull.
Sensibly, Prafull decided to close his stall, but, undaunted, he approached a hospital owner and with his permission and help from other authorities, opened up another stall near the hospital. He named it MBA Chaiwala. He jokingly says – “MBA stands for Mr. Billore Ahmedabad”.
To increase his customer base, Prafull deepened his customer engagement by creating a small corner for job seekers. He put up a whiteboard for the job seekers to write down their details so potential employers could contact them.
Such was his fame that YouTubers put up videos of him further helping him reach a larger base. This was how his parents first heard of him selling tea instead of earning a degree. Initially upset with him, they, however, understood his motivation.
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Prafull continually found ways to engage with his customers. Organising cricket matches, ludo games or even just a place where people could leave messages for loved ones were various activities that people looked forward to anytime they visited his stall. Two years of operating from Ahmedabad allowed Praful to expand to his first franchisee café in Bhopal.
Now five years later, the brand that is MBA Chaiwala is more than 50 franchisee outlets strong and growing stronger. They undertake large-scale catering orders for parties, weddings, etc.
MBA Chaiwala Franchise
It is Prafull’s ambition to grow the brand presence to 200 outlets by the end of this year. “If anyone asks me to make chai today, I won’t. I don’t like it. I was struggling when I was making tea on the street but now, I am focusing on expanding my business,” he quips.
First and foremost a focused, goal-oriented businessman, Prafull wears several hats. His goal is to create a millionaire from every village through his franchisee business model.
The MBA Chaiwala Academy
Prafull has launched the MBA Chaiwala Academy. The focus of this academy is to share entrepreneurial knowledge with other budding stars. It will include the ‘How to…’ instructional guidance for building a sustainable and thriving business. The complementary peripheral topics associated with self-development, mental growth, trading, marketing, etc will also be addressed.
Social Media Presence
This tenacious young entrepreneur is a strong presence on social media and an avid YouTuber. He maintains that his social media presence also helps him to spread more awareness for MBA Chaiwala.
Philanthropist
Taking advantage of the growing fame of MBA Chaiwala, Prafull has organised various events like Poetry/Singing nights, ‘Mehfil-e-Kavita’ to encourage budding artists and afford them visibility and educational sessions for youth with guest speakers talking about entrepreneurship. He has hosted fundraisers to support various causes like upliftment of the underprivileged, treatment for cancer patients and the Kerala Flood Relief Fund.
The Motivational Speaker
Prafull Billore has been invited to talk at colleges like IIMs, IITs, Josh Talks, TEDxKIET, TEDxMDI GURGAON and Lovely Professional University.
Prafull Billore burst on the Indian business scene with a steaming hot cup of chai and is serving his way to the top. His dynamism, energetic approach to life and willingness to learn and engage has won him many admirers. He is like a duck – calm on the surface and paddling furiously beneath to reach his goal quickly. Here’s wishing him all the luck in this journey.
FAQs
What is the net worth of Prafull Billore?
The net worth of Prafull Billore is approximately $3 million.
Who is Prafull Billore?
Prafull Billore is an entrepreneur and founder of MBA Chaiwala.
Why is MBA Chaiwala so famous?
Prafull Billore built a 4 crore business around tea without having much knowledge about business is what intrigues people.
Everybody realizes how time-consuming & tricky it is to draft a resume. To move past the ATS system, you must describe your skillset that’s intriguing to recruiters and suitably present your resume.
Several job hunters use virtual resume designers to save effort & time. Because many websites that sell resume maker apps give free tests or minimal membership fees, using a designer is a key to creating a good resume & is:
Simpler than drafting it yourself.
Less expensive than hiring a typical resume writing provider.
However, with so many resume maker portals to choose from, it can be hard to ascertain which one is worthwhile.
In this article, we’ll be briefly discussing about Resume Giants. Without any further ado, let’s dive right in.
Resume Giants is a cutting-edge expert profile and a self-branding company that creates tactical, well-written, and expert résumé, self-branding techniques, & interview guidance for grads, retired special forces, Government & executive experts looking for a leg up.
It aims at ensuring that its users stand out, perfectly brand themselves, and are ready for their career path by incorporating an open mindset versus classic methods and status quo techniques.
They offer world-class CVs, professional self-branding guidance, and interview mentoring to their clientele. They offer the finest detailed career assistance deals in the sector by bringing specialists, executive authors, and super-smart teammates. They are a client-focused company that prioritizes its clientele.
Resume Giants- Mission
Resume Giants mission is to offer incredible resume & marketing tools, as well as advisory services to their clients, irrespective of sector or profile. They aim to serve job hunters in locating their ideal jobs.
Resume Giants- Business Model
Their resume designer was created to make writing the finest resume as simple as possible.
To make your hiring process more pleasant and simple, they’re continuously collecting in-depth details about the employment sector, information about fun and modern evolving professions, the most prevalent skillset, and current workplace trends.
By providing specialized material, expert suggestions, and genuine, up-to-date cv samples that matter and boost your likelihood of landing your dream job.
Resume Giants- How Do They Earn Money?
Resume Giants doesn’t charge any fees for the first-year folks signing up. After that, they do charge a small amount for their services.
It collects data on all registered jobseekers, such as one‘s resumes, contact details, profiles, & other relevant data. It then sells it to businesses that are in search of good candidates. This is also one of their sources of income.
Resume Giants- Acquiring the First 100 Users
To generate more traffic on their site, they initially used a generic tactic and focused solely on a single language and market. And they’re now tailoring it to a specific demographic. They are presently focusing solely on SEO and social media marketing.
Resume Giants- Challenges
There are times when there is less traffic on a website, lower bounce rates, or lower conversion rates. To change it and check what works and what does not there is something called AB testing which is done by Resume Giants. They assess and reject or optimize anything which doesn’t work or just doesn’t enhance the tool. They also record the progression using market information and previous encounter.
When it comes to oral care or toothpaste, in particular, there is one brand that immediately pops up in every Indian’s mind and that is Colgate. For over 200 years, Colgate has been carrying out its business internationally. Even today in India, Colgate is a brand that is known for its quality, its affordability, its product range, and most importantly its goodwill.
It has been a trusted brand for oral care products and has satisfied the needs of millions of customers. Be it the toothpaste, toothbrush, mouthwash, or dental floss, the company has never seen a great downfall in the market.
One of the major reasons for the success of Colgate in India and internationally has been the marketing strategies and ways of branding. The company applies effective marketing strategies according to its market segmentation, demographic, psychographic, and consumer behavioral patterns. To know more about Colgate, its history, and its marketing strategies, watch this space.
Founded in the year 1806, India’s No.1 toothpaste brand, Colgate was a soap, starch, and candles business back then. William Colgate found the company Colgate in New York. After he passed away Samuel Colgate ran his business and in the year 1873, a new product was launched – toothpaste that was then sold in jars. Since the 1920s the company started operating its business in other countries as well. By the end of the 1980s, the company was popular and successful in selling toothpaste that was to prevent cavities, bad breath, whither teeth, resolving gum bleeding problems, etc.
The Company has always targeted to shoot advertisements with prominent celebrities. Very popularly the Colgate Max fresh has always been promoted by Ranveer Singh which depicts that the toothpaste is equally fresh and energetic as Ranveer is.
Also, there are many other advertisements where many Bollywood celebrities have been associated like Kareena Kapoor, Shahrukh Khan, and Madhuri Dixit. Colgate has been collaborating with YouTubers as well which has targeted and reached millions of millennials.
Colgate Brand Endorsement
Location-Based Targeting
Colgate has always been a master when it comes to ad campaigns and marketing strategies. They tap different locations with different marketing strategies and get a lot of success in the form of positive response and lead generation. One such example of Colgate’s marketing strategy based on location was the Kumbh Mela, the largest spiritual gathering of Hindu devotees.
Kumbh Mela Campaign of Colgate
Colgate tapped this market very well and understood that most people who were present in this area had low levels of literacy rates. To make them aware of the brand and the product, Colgate had sent voice messages via radio and mobile phones.
The virtual network that the company created around Kumbh Mela was a perfect location-based approach to the target audience. The message spread to the pilgrims was to visit the Colgate booths and receive free samples of Colgate toothpaste along with that stand a chance to win prizes.
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Colgate is very witty when it comes to the packaging of its products. The packaging is very youthful, bright well has very decent which appeals to all kinds of masses as well as spreads the right message across.
Be it the Cavity protection toothpaste or max fresh toothpaste the company’s advertisement commercials and advertisement campaigns aptly signify what they are offering and by concentrating on the solution to the very specific problem of oral health, they gain the trust of the masses.
Building Trust Among Customers
Colgate has always touched upon the sentiments of the masses and has engaged the masses through its heartwarming stories. Not only the company has build trust in the market by providing quality and affordable products but also has participated in numerous social causes, which has increased the trust of Indians.
Colgate has participated and partnered in various NGO’s and social activities which have indirectly always been a part of one of the most effective branding and marketing strategies.
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Colgate has its operations since 1957 in India. It was a market mover then since it was the only company that provided toothpaste in a tube. It was a revolutionary time it got the attention of the masses, unlike any other brand at that time. Later on, the company identified the nerves of the Indian market.
Colgate launched a series of natural and ayurvedic toothpaste in India along with more than 90 other international markets. Indians have always been attached to traditions and values and Ayurveda is the essence of India.
They released Colgate Vedshakti which was made with Ayurvedic Ingredients and was said to be natural. The other great invention of Colgate was when the company released Colgate SlimSoft Charcoal.
It was the first-ever toothbrush In the Indian market that had super slim bristles combined with charcoal. There was no other company than who made charcoal-infused toothbrushes and toothpaste. In such ways, Colgate has always been reflecting its innovations in the Indian market.
Conclusion
Colgate has always been a company that has focused to work on its core products and operations and at the same time lookout for new areas to play. Be it rural India or urban India, Colgate has been one of the prominent leaders in the oral care industry and holds a loyal base across the country.
The company aims to continue this journey by serving its customers with the same passion and creating more awareness about the brand by using many different and new marketing strategies.
FAQs
Is Colgate an Indian company?
Colgate is an American brand founded by William Colgate.
What company owns Colgate?
Colgate-Palmolive Company is the parent company of Colgate.
Is Colgate a Fortune 500 company?
Yes, Colgate-Palmolive is a Fortune 500 company.
How successful is Colgate?
Colgate is a market leader in the toothpaste and toothbrush segment leaving behind the successful competitors.
Who are Colgate’s competitors?
Colgate’s competitors are:
Crest
Sensodyne
Patanjali Dant Kanti
Close up
Pepsodent
Vicco Vajradanti
Why Colgate is the best toothpaste?
Colgate is known for its tooth whitening properties and 12-hour protection that helps fight cavities, prevent gingivitis, reduce plaque, control calculus buildup and fight bad breath.
Which type of advertising is used by Colgate?
Colgate mainly uses a positioning approach based on its competitors. They have positioned their brand image in such a way that customers are bound to buy the product.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Lyft.
The urging need for a better and safer travel system is fulfilled by Lyft. Lyft has become a household name from the time it was launched in 2012. Lyft is highly considered by the citizens of the United States and Canada for booking their rides.
Lyft was launched in 2012 by Logan Green and John Zimmer as the second-largest ride-sharing company in the United States. From the time of its launch up till now, it is known to provide multiple facilities such as providing a ride, arranging the driver, delivering food, etc.
Lyft has its roots expanded and well-developed in its field. Let us have a look at other important details such as founders, back story, mission and vision, business models, etc.
Let’s go through the Lyft success story and know about Lyft, its founders, business model, revenue model, funding, startup story, competitors and more.
Mobile Apps, Ride Sharing, Software, Transportation
Area Served
United States, Canada
Revenue
$3.2 billion (2021)
Total Funding
$4.9 billion (2022)
Website
www.lyft.com
Lyft – About
Lyft is an American-based mobility provider providing service that is considered the second-largest trusted ridesharing service in the United States. Lyft provides an application of its own that works in favour of people to help them with their travel plans. Apart from managing their travel, it also offers other services such as food delivery, ride-sharing, and renting bicycles types of services.
Lyft uses 58+ technology products and services in its application and website. This enables the easy and updated use of its technology. Lyft is not a cab hiring service, instead, it connects the user with the facility provider to earn profit.
Lyft – Industry
The mobile application industry is the fastest growing industry due to the increased number of users. Along with mobile applications, the usage of personalized software makes it much more compatible to be used by any startup. In recent years, the software industry along with the mobile application industry has been combined to give out better results and eliminate the restricted use of models due to medium.
The ridesharing industry is the new talk of the town as the assumption to be believed is that the global ride-sharing market is projected to grow with a 16.6% CAGR with an estimated USD of 85.8 billion in 2021 to be around 185.1 billion by 2026 as per the report published by marketsandmarkets.com.
The transportation industry deals with the economy and the movements of people from one place to another. Lyft works together in this industry to provide relevant services with a profitable business.
Lyft – Founders and Team
Logan Green
Logan Green, CEO and Co-founder of Lyft
Logan Green, highly recognized as the CEO and co-founder of Lyft, was born in Los Angeles in 1983. Green is recorded to complete his schooling at New Roads High School, California. For his higher education, Green attended the University of California, Santa Barbara (UCSB). He completed his bachelor’s in 2006 and is recorded to hold a degree of Bachelor of Arts in Business Economics.
During his education, Green had achieved and served a few great responsibilities. Green had created the Green Initiative Fund while still being a student. He also served as a board member for Isla Vista Recreation and Park District in his early life.
Before the launch of Lyft, there was another carpooling service founded by Green and his friend John Zimmer named Zimride in the year 2007. After the success of Zimride, Green was not yet satisfied with his work and went forward to embrace the risk with the launch of Lyft in 2012.
John Zimmer
John Zimmer, Co-founder and President of Lyft
John Zimmer is a co-founder and president of Lyft born in 1984. He completed his education at Cornell University School of Hotel Administration. He was known to be a member of Sigma Pi Fraternity during his college years.
After completing his education, Zimmer went on to work as an analyst for real estate finance at Lehman Brothers (New York City).
While working for the Lehman Brothers, Zimmer along with his dearest friend Logan Green went on to launch a ridesharing platform named Zimride. After some time, Zimmer left his job at Lehman Brothers and again went on to give rise to another ridesharing platform named Lyft with the equal contribution from Logan Green.
Lyft – Startup Story
Initially, Lyft was started just as a part of Zimride. The story behind it becoming the sole project of John Zimmer and Logan Green is quite interesting to look at. Lyft is not any on-road ridesharing enabling platform, instead, it is the second most used ridesharing service in the United States.
To know the exact reason behind Lyft, one must be aware of the story of Zimride. As for the start, Lyft was a part of Zimride only before selling it to a private company.
The founders of Lyft met each other through a common friend and got to know each other on Facebook.
Logan Green used to travel to Los Angeles to meet his girlfriend. Green used to make sharing rides for travelling the distance. However, the key point in their travelling was mostly his anxiety about unknown drivers and passengers.
On the other hand, John Zimmer used to own a car but didn’t have any possible rider to share his ride with. He noticed that 80% of seats are empty on American Highways.
Both the friends put up their thoughts together and created the carpooling service named Zimride in 2007. The logic behind naming Zimride was taken from Zimbabwe, where they encountered people sharing rides as their basic transportation.
Zimride was created by keeping college students in mind. It was created in a way to provide easy travel access to the campus carpooling. They also provided a good way for students to earn money through Zimride. Till the year 2012, Zimride had thousands of users with 150+ universities participating in the business. Even after the great achievement, the co-founders were left with some dissatisfaction in their minds.
To improve the business and provide more easy ways to the users, Logan Green and John Zimmer gave rise to Lyft.
“Lyft came out of a hackathon project where we were trying to figure out what does Zimride look like on mobile.” – Logan Green.
With the concept in mind, they built and launched the Lyft application in the year 2012. Soon after the launch of Lyft, it started raising enough funds for its development. Lyft also proved as a healthy competitor to already existing ride-sharing company Uber.
With the constant expansion of Lyft, the co-founders of Lyft concluded renaming Zimride “Lyft” in 2013. Along with that, they sold the Zimride services to Enterprise Holdings.
From there on, Lyft has successfully tried to accomplish its goal and is still on its way to success even after some rough waves.
Lyft – Mission and Vision
The mission stated by Lyft is to “Improve people’s lives with the world’s best transportation”.
The vision of Lyft is stated as “ride by ride, we are changing the way our world works. We imagine a world where cities feel small again. Where transportation and tech bring people together, instead of apart. We see the future as community-driven and it starts with you.”
Lyft – Name, Tagline, and Logo
Name
Lyft name of the vehicle is the general word “lift” and shares the same meaning. The idea behind naming Lyft ” originated after Logan Green observed people sharing minivan taxis in Zimbabwe. From there, the idea to name their startup Lyft ” originated, However, it was made in use after a few years when Zimride was renamed Lyft.
Tagline
The tagline of Lyft is Your Friend with a car.
The Initial thought of the Lyft founders was to enable safer and secure travelling options for daily commuters. The tagline itself suggests that a customer can trust their rider like a friend and can travel comfortably without worry.
Logo
Lyft Logo
In the first logo of Lyft, The Pink Moustache with the name Lyft was made. However, with time, only the name is left as its logo.
Yet, Lyft vehicles were found to have a big pink moustache attached in the front. The prime reason behind this was the old friend of the founder of Lyft named Ethan Eyler. Ethan Eyler was known to run a company at that time selling big pink moustaches that can be attached to vehicles in the front.
As for the logo of Lyft, all the letters of Lyft are written in small letters with Pink colours on a white background. The reason behind selecting the colour pink was to normalize the Lyft brand as more friendly for females riders. Lyft was originally planned as a fun-filled and friendly ride-sharing option for its users and hence selecting such a vibrant colour gives out a similar vibe to daily commuters.
Lyft is an on-demand ride-hailing platform. It enables the online connection of a ride needing the user to the rider available at the nearby location. The typical business model of Lyft works on the principle of Peer to Peer model.
It combines all the necessary details such as base charge, the distance covered, the per-minute charges, the per-mile cost, time of day, ride type, the chosen route, number of available drivers, current demand for rides, and any extra charges or taxes. With all this calculation, the only remaining part is the time required to reach the destination. After going through all these elements, the final fare is decided.
There are four basic steps in the Lyft Business Model. However, Lyft itself is compromised of two different parts, riders, and drivers.
Riders
The four basic steps for Riders are:
Requesting a Ride
In this step, a rider needs to download the application of Lyft and complete their profile. Once done with the basic process, they can start with the available options and decide according to their needs.
Coordination
This step is mainly done by Lyft. Lyft enables the nearby available Lyft ride as a suggested option as per the rider. Once matched, basic information is shared on both sides such as the live location of the driver with the vehicle information, and the driver’s name is shared with the rider. And the personal needed information about the rider is shared with the driver for their easy access to each other.
Ride
Once the request is accepted by the driver and the ride is accessed by the rider. The actual map of the destination is shared with the driver and real-time tracking is enabled for the safety of the rider.
Final Check With Payment and Ratings
Once the ride is completed, the final amount is displayed to both parties with the option of rating each other. A rider can rate the driver with needy comments and the same facility is given to the driver to rate their rides.
Drivers
Lyft has a slight change to the business models for those wishing to make money through driving but does not have their vehicle. For such people, Lyft has a dedicated Express Drive Program through which one can easily rent a car to drive. Before that, they need to get eligible to bypass the profile screening test. Once all this procedure is done, the driver can then start with their allocated process of four steps:
To Register As A Driver
For this process, Lyft has assigned them another application known as Lyft Driver App. After downloading the application, the driver needs to set up their profile with honest details. Once completed, they can then enable themselves on a Drive Mode to receive notifications from neighbouring locations.
Receiving A Request
After the drive mode is on, the Lyft application allows the nearby passenger’s details to be sent to the driver for the ride. A driver has the option of either accepting or neglecting the ride request based on their judgments.
Completing A Ride
When a ride is accepted by the driver, basic details are shared on both the sides by Lyft Application. Along with that real-time tracking is enabled for higher safety. Once the ride is completed, the Lyft application automatically calculates the payment based on multiple factors and displays them on the screen.
Payment and Ratings
A rider needs to pay up a shown amount to the driver. Once the whole process is complete, a driver can rate their riders on a scale of 1 to 5.
Lyft – Revenue Model
Lyft gets its revenue mostly from the bookings made through it. Bookings stand for the completed rides done through Lyft Application. Lyft takes a commission from each of those rides. 80% of each completed ride goes to its driver whereas 20% is taken by Lyft.
In the year 2020, Lyft earned its revenue of approximately $2.3 billion.
Lyft generates its revenue from multiple sources.
Commission From Bookings
This is the majorly constituting source of revenue. As explained above, Lyft cutes 20% of the total payment made by riders after completion of their rides as its commission.
Supply And Demand-Based Fare
Lyft has its prices hiked at certain periods of the day. This is done at the time of traffic, high demand for rides, and similar situations. In this model, Lyft hikes its price temporarily and earns extra profit through each ride.
Availing Subscription Plan
The subscription program of Lyft is called Lyft Pink for riders. Lyft allows its users with the subscription plan of paying $19.99 per month or $199 per year to avail of various benefits such as 15% off on rides, a few additional discounts, and many others. This model also earns Lyft a good source of revenue.
Multimodal Business Plan
Lyft is not confined to a single ride-sharing platform, it has a few different similar services on hand too. Lyft is an on-demand ride-sharing platform giving out four different options for rides. They have scooters and bikes, public transportation, ridesharing service, and a self-driving facility.
Amongst them all, users can easily select their preferred options such as for shorter distances, one can prefer bike and scooter or for some specific reason, one can go with the option of the self-driving vehicle. All this has also contributed to the revenue collected by Lyft.
DOOH
Digital-Out-Of-Door stands for the method of advertisement in a ride. This method is used by Lyft itself also to advertise for the self. Apart from that, Lyft also gives out advertisements to others in exchange for certain fees.
Lyft – Employees
Lyft has its headquarters in San Francisco. Apart from that, it has its offices set up in various locations. The total count of locations is 31 different located offices covering the parts of 6 countries.
As of 2021, Lyft was calculated to be having 4369 employees working for it.
Lyft provides its employees with several facilities as per their job positions. Some of the facilities given by Lyft are Insurance of different types, retirement plans, maternity and paternity leaves, paid holidays, etc.
Some of the key people of Lyft are:
Logan Green- CEO of Lyft
John Zimmer- President Of Lyft
Anthony Fox- Chief Policy Officer, Senior Advisor to President & CEO
Brian Roberts- Chief Financial Officer
Kristin Sverchek- President of Business Affairs
Eisar Lipkovitz- Executive Vice President, Rideshare and Engineering
Lyft has a total of 79 investors and 13 lead investors investing on its platform.
Date
Transaction Name
Money Raised
Lead Investors
Mar 1, 2019
Secondary Market
–
–
Jan 25, 2019
Secondary Market
–
–
Sep 20, 2018
Secondary Market
–
–
Jun 28, 2018
Series I
$600M
Fidelity Management and Research Company
May 4, 2018
Secondary Market
–
–
Mar 16, 2018
Corporate Round
$200M
Magna International
Dec 6, 2017
Series H
$1.1M
–
Dec 5, 2017
Series H
$500M
CapitalG, Rakuten
Oct 19, 2017
Series H
$1B
CapitalG
Sep 15, 2017
Secondary Market
–
–
From the time of its start till now, Lyft has participated in 27 rounds of funding and has received the amount of $4.9 billion. Their latest funding was raised on March 01, 2019.
Lyft – Acquisitions
Lyft has a total of 11 acquisitions with an investment of around $342M.
Kamcord
Leo
Cherry
YesGraph
Halo Cars
Flexdrive
Blue Vision Labs
Motivate
Hitch
DataScore
Lyft – Growth
Lyft was launched three years after Uber. Uber is considered the largest and most trusted ridesharing service in the United States. Earlier, Lyft was started as a ride-sharing company for long distances. But with time, they gave out different options for short distances too.
With this initiation, Lyft came out to be the biggest competitor to Uber. Uber was a well-settled company at that time, yet the growth seen by Lyft in its expansion was commendable. Lyft expanded roughly from 60 cities to 300 cities by the time of 2017.
Another thing that worked in the favour of Lyft was the anti-Uber Campaign in 2017. The campaign allowed Lyft to make its name by eating up Uber’s popularity. The market share earned by Lyft increased from 22% to 33% in the year 2018.
Lyft – Advertisement and Social Media Campaigns
Lyft uses multiple methods to advertise its brand. Lyft is known to take help from social media influencers for its typical advertisement of itself.
Some of the celebrity endorsers of Lyft are LeBron James and Nigel Sylvester. LeBron James is the celebrity influencer used by Lyft for its advertising strategy, whereas Nigel Sylvester is a YouTube content creator, helping them to reach a wider range of users.
Apart from this, Lyft also takes the help from passionate influencers having the ability to reach heights and advertise their platform.
Another common method used by Lyft for its advertisement is in the form of Digital-Out-Of-Home (DOOH). This means advertising a platform within a ride. Lyft also advertises itself by using this method. Lyft also uses Google Ads for socializing its platform.
Each brand keeps on introducing different campaigns to gain the attention of users. The two most successful campaigns launched by Lyft are:
Riding is the new driving.
How to Human.
Riding is the new driving– It was launched in 2016 with a one-minute message showing the traffic drive with a heart vibe.
How to Human campaign was launched in 2019 to normalize the world after a long fight with the COVID pandemic. Even though at that time, the pandemic was not over, few things were coming back to normal. During this campaign, Tinder also teamed up with Lyft for this campaign to avail free rides for the customers as an effort of easing the concept of socializing and dating.
Lyft – Online and Social Media Presence
Lyft has an active Social Media Presence across different platforms. Lyft uses social media platforms as a way of advertising itself. Along with that, it also uses different platforms for announcing new steps.
Social media platform
Followers
Twitter
289.3k
Instagram
180k
Facebook
658k
Lyft – Competitors
Lyft has about 30+ competitors in the market. The top three amongst them are:
Uber Technologies Inc.
Gett.
DiDi.
Uber
Uber is the biggest competitor of Lyft. It was launched in 2009. Uber Technologies Inc. is an American-based mobility service providing company. They serve 72 countries with approximately 10,500 countries. Services given by Uber include, ride-hailing services, food delivery services under the name of Uber eats, package and courier delivery, renting a vehicle, etc. Uber is the leading ride-sharing platform in the United States acquiring about 71% market share of rides sharing as noted in Jan 2022.
Gett
Gett, previously known as GetTaxi, is an Israeli-based transportation provider founded in 2010. Gett mainly focuses on Corporate Ground Transportation Management (CGTM). Areas served by Gett are Israel, Russia, the United States, the United Kingdom, and Europe. Services provided by Gett are corporate fleet, taxi, ride-hailing, and providing limos to their customers as per their request.
DiDi
Didi Chuxing Technology Co. is a Chinese vehicle for hire company launched in 2012. The company deals with application-based transportation services. DiDi provides services to 400+ cities. Common services given by DiDi are Taxi, Express, Premier, Bus, Designated Driving, Enterprise Solutions, Bike Sharing, Car Rental, food delivery, etc.
Lyft – Future Plans
“Now more than ever, we need to work together to create cleaner, healthier, and more equitable communities,” said John Zimmer, co-founder, and president, of Lyft.
Lyft plans to reach 100% electric vehicles on its platform by the time of 2030. This move will help in decreasing the harmful emissions to the environment. Lyft plans to use 100% electric vehicles in 10 years. All the vehicles used on the Lyft platform will be either eligible as electric vehicles or will be reliable to zero-emission technology.
To fulfil this dream, from the year 2017, Lyft was known to work towards the development of electric cars. However, Lyft sold its self-driving unit to Toyota’s unit Woven Planet in 2021.
This step might seem like a hurdle for the future vision of Lyft. But on the better aspects, both the parties are bound in a contract to share data. This allows easy sharing of work between both the companies.
As no developing company would like to work on two aspects together. It is better for Lyft to work towards its main business of ride-sharing and for Woven Planet to work solely on the development part rather than taking interest in the ride-sharing business. With this assumption, we can look forward to having a better and clearer environment through the efforts of Lyft.
Lyft plans to fulfil its dream of establishing 100% autonomous vehicles but with a slight change in the actual plan by mainly focusing on its B2B branch.
Lyft – FAQs
Who is the founder of Lyft?
Logan Green and John Zimmer are the founders of Lyft.
What is Lyft?
Lyft is a ride-hailing service founded by Logan Green and John Zimmer.
Who is the CEO of Lyft?
Logan Green is the current CEO of Lyft.
When was Lyft founded?
Lyft was founded in 2012 by Logan Green and John Zimmer.
