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Tag: Revenue model

  • Innovaccer – How Is This Digital Healthcare Company So Successful?

    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 Innovaccer.

    We have been seeing technology and digitisation take a place in almost all industries, be it education, manufacturing, or corporate, and now the healthcare sector is not behind. It can be safe to say that the world has been seeing outstanding health IT transformation.

    We see almost every hospital and private clinic today has taken over digital transformation over traditional methods. They are truly putting in a lot of effort to change the way they deliver healthcare through new and innovative techniques.

    Innovaccer is one of the leading digital healthcare IT platforms that offer effective healthcare solutions to improve clinical outcomes and patient satisfaction.

    In this article, let’s look at Innovaccer’s startup story, what they are about, founders and team, business structure and revenue model, challenges faced, competitors, and more.

    Innovaccer – Company Highlights

    Startup Name Innovaccer
    Headquarters San Francisco, California
    Sector IT Services and Digital Healthcare
    Founders Abhinav Shashank, Kanav Hasija, Sandeep Gupta
    Founded 2014
    Valuation $3.2B
    Revenue $80-$100M
    Total Funding Raised $378.1M
    Website innovaccer.com

    Innovaccer – About
    Innovaccer – Industry
    Innovaccer – Founders and Team
    Innovaccer – Name, Tagline and Logo
    Innovaccer – Startup Story
    Innovaccer – Mission and Vision
    Innovaccer – Funding and Investors
    Innovaccer – Business Model
    Innovaccer – Revenue Model
    Innovaccer – Challenges Faced
    Innovaccer – Competitors
    Innovaccer – Awards and Achievements
    Innovaccer – Future Plans

    Innovaccer – About

    Launched in 2014, Innovaccer is a cloud-based platform to improve the overall healthcare systems. Their platform provides physician practices, hospitals, health systems, and other healthcare providers with various innovative digital products. Innovaccer helps to collect, analyse, and provide insights on patient health.

    It is an AI-powered patient and physician engagement and features many customisable tools that help in delivering desired outcomes. It has options such as care management, referral management, and patient engagement.

    Innovaccer – Industry

    Innovaccer belongs to the digital healthcare IT service provider. This industry is growing exponentially over the past years. As per reports, the digital health sector has exceeded $141.8 billion in 2020 and is anticipated to grow by over 17.4% by the end of 2027.

    Innovaccer – Founders and Team

    Sandeep Gupta, Abhinav Shashank, and Kanav Hasija - Founders of Innovacer
    Sandeep Gupta, Abhinav Shashank, and Kanav Hasija – Founders of Innovaccer

    Sandeep Gupta

    Sandeep Gupta is the co-founder and Chief Operating Officer of Innovaccer. Before starting his entrepreneurial journey, Sandeep started his career as a Software Engineer at TCS, then he worked at Microsoft and Ingersoll Rand. He graduated from the Indian Institute of Management, Ahmedabad.

    Abhinav Shashank

    An alumnus of IIT, Kharagpur, Abhinav Shashank is one of the founding members and CEO of Innovaccer. Other than this, Abhinav is a talented and renowned author and has published over 300 articles for various international media outlets. He has been featured in Forbes 30 under 30 Asia 2017: Enterprise Tech and also in “Top 60 Rising leaders in U.S healthcare under 40′ in 2019.

    Kanav Hasija

    He serves as the CCO and is the co-founder of Innovaccer. He is an IIT, Kharagpur graduate in B.Tech and a Patent Law degree from the University of New Hampshire, School of Law, formerly Franklin Pierce Law Center.

    He has worked as an intern at General Electric and was a Principal Consultant at Kharagpur Consulting Group (KCG). Kanav has a rich experience in the field of Big Data, medical analytics, and research. He is a recipient of the Honorable mention for excellence in technology’ from the Indian Institute of Technology.

    Innovaccer goes by the tagline, “Accelerate Your Digital Transformation with the Innovaccer Health Cloud”.

    Their work rightly shows there in the tagline as they are helping many healthcare companies with various digital solutions.

    Innovaccer – Startup Story

    Founded by Abhinav Shashank, Kanav Hasija, and Sandeep Gupta, Innovaccer serves to be one of the most effective digital healthcare sectors today.

    Abhinav came up with the idea of Innovaccer while working on a project at Harvard. Along with his partners, they want to create a bridge and fill the gap between digital health and health care.

    By working a lot day and night, they wanted to come up with an ecosystem for companies to help them build applications through their platform.

    The company started receiving praises from investors and last year Innovaccer announced its $150 million Series-E round at a $3.2 billion valuation.

    Innovaccer – Mission and Vision

    The company’s mission is to accelerate the growth of healthcare in a digital world by pulling off innovative and technique methods.

    Innovaccer’s mission reads, “Connect and Curate the World’s Healthcare Data and Make It Accessible and Useful.”

    Innovaccer – Funding and Investors

    Date Funding Round Funding Amount Investors
    14 May 2015 Seed $2.5M Start Smart Labs, 500 Startups, Rajan Anandan
    11 Aug 2016 Series A $15.6M WestBridge Capital
    10 May 2018 Series B $25M Lightspeed Ventures Partners, WestBridge Capital
    20 Jan 2019 Series B $10M M12
    14 Feb 2020 Series C $70M Steadview Capital, WestBridge Capital, M12
    24 Feb 2021 Series D $105M Tiger Global Management, Steadview Capital, Dragoneer Investment Group
    15 Dec 2021 Series E $150M Mubadala Capital, B Capital Group, M12

    Innovaccer – Business Model

    The company mainly operates its customers by creating a patient-centric platform. It offers digital products in the areas of population health management and Pay-for-performance.

    Their business is majority about the cloud platform – Innovaccer Health Cloud that provides a robust solution to solve the problems and challenges faced by hospitals, pharmaceutical companies, and insurance companies to help them store data and bring in higher efficiencies for them.

    The health cloud platform key functionality is:

    • Data Activation platform
    • Application Suite
    • Innovation Toolkit
    • Accelerators

    Key customers of Innovaccer

    • UpStream
    • Chess Health
    • Banner Health
    • MercyOne
    • Hartford Healthcare
    • CHI health partners

    Innovaccer – Revenue Model

    The company raised almost a value of $150 million in its last funding round. The company believes that this is the era of digital healthcare and more importantly after the pandemic.

    The company earns its revenue through the health cloud platform by helping other sectors with cost savings. Their platform has about 39 million  patients and 96,000+ providers across 1,600+ locations.

    Innovaccer is India’s first healthcare unicorn. They believe that the company has been providing innovative solutions and is confident about its future

    Innovaccer – Challenges Faced

    Although the company is succeeding and growing at a rapid rate, the risks associated with data are a crucial factor. It is up to Innovaccer to properly leverage the digital framework and keep storing the data with constant monitoring and making necessary and regulatory changes as and when needed to their risk analytics.

    The company is always under pressure to maintain compliance to ensure data accuracy.

    Innovaccer – Competitors

    Digital healthcare is undoubtedly expanding, with many companies in the market offering their IT services in healthcare and promoting their brands.

    Some of the biggest competitors of Innovaccer are:

    • Accolade
    • Castlight
    • Artemis Health
    • Carrum Health
    • Zoom for healthcare
    • Doxy
    • Nexthealth Technologies
    • Reveleer
    • VSee

    Innovaccer – Awards and Achievements

    Some awards won by Innovaccer are:

    • Best in KLAS Data & Analytics Platforms – 2022
    • Black Book – 2022
    • Certified NCQA HEDIS MEASURES – MY2020 Health Plan and Allowable Adjustments Measures
    • AHIP Affiliate Organisation Member 2021

    Innovaccer – Future Plans

    The company plans to keep delivering the best and most high-quality digital products in order to improve the healthcare sector in the world.

    Sandeep Gupta says, “We want to be the ubiquitous platform that is powering all those innovators across the healthcare ecosystem, and at the center of it is the patient who is getting better care and better-coordinated care because of everything that we are able to do around them”

    FAQs

    Who is the founder of Innovaccer?

    Sandeep Gupta, Abhinav Shashank, and Kanav Hasija are the founders of Innovacer.

    Is Innovaccer an Indian company?

    No, Innovacer is a Silicon Valley-based digital healthcare company.

    What is the revenue of Innovacer?

    Innovacer generated revenue of $100 million in ARR as of 2021.

  • Flyrobe Business Model: How Does Flyrobe Make Money?

    Indians never fail to amuse themselves with their traditional attire, especially in ethnic wear on occasions or events. On the other hand, wearing such clothes costs like anything in this world, even if you are wearing them for one day or keeping them permanently.

    That’s why Flyrobe has made a favourable store by conferring rental dresses at affordable prices. Besides that, customers can buy the products by paying the full settlement.

    Flyrobe – About
    Flyrobe – Products and Services
    Flyrobe – Target Audience
    Flyrobe – Business Model
    What Is Unique About Flyrobe’s Business Model?
    How Does Flyrobe Make Money?

    Flyrobe – About

    Flyrobe is an online rental clothing company for men and women. Instead of owning a one lakh dress for a one-day occasion, renting it at an affordable rate would do wonders. Flyrobe sells handmade ethnic wear of the RIB brand and charges fare only on the rental dresses but they ask you to pay extra if you exceed the specified due date.

    On the other note, there are no delivery fees or transportation charges and also the company grants one more expedient to the customers where the required product delivers within 3 hours.

    Notably, Flyrobe is an online clothing portal that sells as well as rents western attire, ethnic, accessories, designers, and men’s and women’s collections which was launched in 2015 by Pranay Surana, Tushar Saxena, and Shreya Mishra.

    Currently, the business is planning to open 30  branches in different cities to dilate their services in the country. The company is operating in 10 major cities in India and has two offline stores in Mumbai, Bangalore, Ahmedabad, and Delhi.

    Flyrobe – Products and Services

    Flyrobe is known for its Ethnic attire, which is made by its handcrafted RIB brand. Subsidiarily, The company sells branded clothes such as Zara, Armani, GLITZ, Sabyasachi, DIOR, etc. to the customers.

    Flyrobe also sells designer collections, and accessories like sunglasses, bracelets, rings, and chains. Furthermore, Flyrobe offers party dresses, lehengas, sherwani, tuxedos, and other branded collections.

    Flyrobe Website
    Flyrobe Website

    Flyrobe comes up amazingly with its new arrivals of handcrafted dresses which are given as rentals at a reasonable price. In case you are buying such dresses from Flyrobe, it is said that it costs an arm and a leg.

    The store also touts celebrities’ look outfits and renowned designer’s outfits, whereas Alia Bhatt, Sonakshi Singha, Parineeti Chopra, and others have played a part in the growth of Flyrobe.

    Flyrobe – Target Audience

    Every woman admires herself when it comes to traditional wear, so it is highly recommended for the age group 20 to 40 years, who love to wear ethnic attire to any occasion to amuse others with their classy look. So Flyrobe targets women majorly by selling or renting women’s collections at a pragmatic price.

    Flyrobe – Business Model

    Unlike other clothing companies, Flyrobe renders their clothes in rental to the customers at a cheaper rate. They rent the on-demand product for a four to eight days period and charge no delivery fees. But if the specified rental period became due, then the customers are asked to send an email to the company in requisition for the dilatory.

    It is saddening when one buys an expensive dress for 50 thousand rupees but wears it only for a one-day event. That’s why Flyrobe sounds good when expensive clothes are available for rent at an affordable rate to the customers for 4 to 8 days without delivery charges.

    What Is Unique About Flyrobe’s Business Model?

    Being on top of its game, Flyrobe uses unique ideas that make them stand apart from its competitors. Some of the ideas used by Flyrobe are:

    No delivery charges

    Flyrobe provides an excellent service to its customers by way of free pick up and delivery to the address provided by the customer. This is one of the few reasons why Flyrobe is popular among its competitors and customers likewise. The delivery of western clothing within 3 hours with no pickup and delivery charges was coveted by the customers of Flyrobe.

    Services offered in 16 major cities

    Flyrobe offers its service in 16 major Indian cities: Delhi, Gurugram, Faridabad, Noida, Ghaziabad, Chandigarh, Ludhiana, Jaipur, Mumbai, Pune, Indore, Lucknow, Hyderabad, Ahmedabad, Bengaluru, and Agra.

    Rented outfits at a cheap price

    The very reason why Flyrobe is favored is because of renting good quality ethnic and western wear at a cheap price affordable to people. This allows people who would want a lehenga for a 3-day function to not spend a fortune on buying a lehenga but also wear one that makes a statement.

    Offers a wide range of clothing from top designers

    Who wouldn’t love wearing a lehenga from the maker of Anushka Sharma’s wedding lehenga and not having to sell their kidney in the process? Flyrobe offers ethnic and western clothing from top designers like Sabyasachi, Zara, Armani GLITZ, Dior, etc. to its customers and has multiple partnerships with several agencies and designers.

    Online and In-store presence

    Flyrobe’s online reputation across 16 Indian cities at a reasonable rate of rent for a minimum of four days has customers crowding their site. Customers who want to make alterations to the dress can visit their stores and get a fitting done for no cost.

    How Does Flyrobe Make Money?

    Flyrobe is gaining much recognition with different types of audiences favouring its concept. Flyrobe makes money in more than one pattern. The majority of the revenue collected by Flyrobe comes from its online sales. As per its founders, 65% of revenue is collected from its online sales.

    Apart from that, Flyrobe charges a commission from its sellers on each successful renting and purchase. There is also the option of a subscription plan available for its users which provides additional benefits to the user.

    On the other hand, Flyrobe charges a fixed amount from then in return for the subscription model. Flyrobe also earns its revenue from the advertisements provided on its platform.

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    Conclusion

    Flyrobe’s unique idea created an industry that is thriving and profitable. It is well received among those people who would love to wear high-end fashionable ethnic wear to marriages and functions as these are celebrated as grand festivities in India but can’t afford to purchase them for a one-time affair.

    And the ability to wear International branded western wear for rent is an option that is positively tempting to those who love fashion. The largest rental platform’s presence in 16 major cities in India and the offline stores only help in increasing the reach of Flyrobe among masses of people who are planning a budget wedding dress.    

    FAQs

    What is Flyrobe?

    Flyrobe is a startup focused on fashion-based products which allow them to be rented and purchased. Majorly, it is an apparel-based renting platform.

    Who started Flyrobe?

    Flyrobe was started by Shreya Mishra, Tushar Saxena, and Pranay Surana in 2015.

    Can I rent my clothes on Flyrobe?

    Yes, Flyrobe allows easy renting of individuals’ clothes on its platform. One can easily rent their clothes on Flyrobe until and unless the dress meets all the eligibility criteria of the startup.

    Is Flyrobe Profitable?

    Flyrobe is a profitable business as its revenue collection has been noted to have significant growth over the years.

  • How Do Short Video Platforms Make Money? | Business Model of Short Video Platforms

    The arrival of TikTok has increased the craze for making short-form videos worldwide. Short video platforms are on the trend. TikTok was the most used Short Video Platform in India which had been downloaded over 611 million times. Ever since it got banned in India on June 29, 2020, over national security issues, after a fallout between both the country. To fill up the gap TikTok left, there has been an onslaught of new short-video platforms. Instagram launched “Reels” immediately after TikTok got eliminated from India.

    There are various short-video platforms that have entered the market like Josh, Moj, MX Taka Tak and many more and they are growing exponentially. The reason is that the mobile data price has dropped since the arrival of Jio. And also, android phones with good cameras are available for a reasonable price which led to an increase in the consumption and creation of short video content in India.

    Age Group of short video platform users
    Age Group of short video platform users

    Now, anyone with a good internet connection and a good camera phone can create and upload short video content. The short video platforms have a wide range of business models and the way of making money differs from one company to another. Moreover, these platforms provide free services to their user which require experiments with the business model. In this article, we will talk about how short video platforms make money. So, let’s get started.

    How Short-Video Platforms make money?

    Promotion Of Brand
    Sponsorship
    Affiliate Marketing
    Collaboration
    Transactional Video on Demand (TVOD)
    Subscription Video on Demand (SVOD)
    Ad-supported Video on Demand (AVOD)
    Hybrid Model

    Promotion Of Brand

    85% of Marketers consider Short-Video Platforms as the most-effective medium for Brand Promotion
    85% of Marketers consider Short-Video Platforms as the most-effective medium for Brand Promotion

    Short Videos are enjoyed by people scrolling on social media. Be it Reels on Instagram or TikTok videos, if it’s entertaining it’s bound to catch your attention. There are many brands that introduce challenges in this video platform and ask people to participate. The brand gives money to the platform to introduce the challenge, this way the promotion is done, and people get to interact with the brand while doing the challenge, and thus their work is done.

    How to use video content for marketing?

    Sponsorship

    Sponsorship is another way of earning money for the Short Video platforms. Many companies willingly sponsor short video apps to reach the masses. As these videos are watched by people in bulk, sponsoring them is beneficial for the company to be known by a large number of people who can be their potential customers. It is a win-win situation for both the platform and the sponsor as the platform gets to earn money through it.

    Affiliate Marketing

    Brands give money to the platform for Affiliate marketing. Here, the platform has to present a video regarding the product of that brand where all information about it has been provided in the video. As people are now attracted to videos more, affiliate marketing helps brands to increase their sales. Thus, nowadays some companies are taking the support of short video platforms and are using them for affiliate marketing.

    Collaboration

    Whenever there is a new film or a music video is going to be released, the stars or the singers collaborated with the video platforms. This way they get to promote their films or music videos whatever it is and can be presented to many people. Collaboration brings money to the short video platforms and thus it is one way to earn.

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    Transactional Video on Demand (TVOD)

    In this type of business model, a customer normally pays a one-time fee or rents it to watch videos or live events. It is more commonly known as pay-per-view. This helps you to choose the entertainment videos you want to watch; you can just pay for the content you require and that increases the popularity of this model. It is considered cost-effective as you can choose what type of entertainment you want to watch rather than subscribing to everything in bulk.

    TVOD helps to concentrate and offer content to a specific market. You won’t be getting unwanted or unrelated video suggestions and would receive video suggestions according to your likes.

    You can find video platforms like YouTube or Instagram using this method to suggest videos. The platforms would keep a track of your activities and give you suggestions on content according to your choice.

    That’s the reason most of the time you would be able to find the content according to your choice. The only difference is that you can view videos and content for free on these video platforms.

    Subscription Video on Demand (SVOD)

    In this subscription-based model, a customer will have to pay an amount monthly, quarterly, or yearly. Through the subscription model, you will be able to view an unlimited amount of content on their platform along with the recently released content.

    There will be different subscription models. The services you receive would be better as you pick the most premium version of the models.

    The main difference between different subscription models would be that there would be a difference in the prices. Also, you would be getting added services and certain advantages. Most of the time, the in-demand videos would be available for premium subscribers.

    This Revenue model is mostly followed by major OTT platforms such as Netflix, YouTube and many more. The subscription model of YouTube is known as YouTube Premium. The main advantage here is that you can choose what you want to watch on these platforms.

    Ad-supported Video on Demand (AVOD)

    In this model, a customer can view the content for free. It is a platform where you can view the content for free but would receive ads in between your content. The platforms get their major revenue from the ads.

    The platform would charge different rates from the advertisers according to what time they would want to play their ad. For example, an ad played at the beginning of the video would cost more than the ad played at the end of the video. The main example of this type of model is YouTube.

    On certain platforms like YouTube, even the content creators would receive a specific amount for the ads being played in between their videos. This would encourage the content creators to make and promote more of their content which will indirectly improve the financial position of the platform as well as the content creators.

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    Hybrid Model

    This is the type of business model normally adopted by companies that want to increase their reach. It is a combination of all the above methods. The platform would want a customer to view it for free at the beginning where they would play some video ads and later convert the customers into the subscription model or transactional video model.

    The company would generate revenue from the beginning stage and it would attract a lot of customers as well. This model would provide the customers with a lot of options to choose from. You would be able to choose the model you prefer according to your budget or your likes.

    Conclusion

    Number of Active Users of Short Video Platforms in India
    Number of Active Users of Short Video Platforms in India

    The demand for short video platforms would keep on increasing in the coming years. The number of active users on Short-video platforms is expected to reach over 650 million by 2025. We would be able to see a lot of content creators and a lot of viral videos being uploaded. With the ban of TikTok in India, there are a lot of new apps coming up along with new features such as Reels, introduced by Instagram to promote short video content.

    YouTube has become a platform where people create content as a full-time profession. Short video platforms are going to flourish in the coming future as the entertainment industry is gaining popularity.

    FAQs

    What is the Business Model of TikTok?

    TikTok primarily gains its revenue through advertising.

    Which countries have banned TikTok?

    TikTok is banned in India and Pakistan only. Though Bangladesh, the United States and Indonesia have attempted a ban on TikTok but later lifted it.

    Why is TikTok banned in India?

    The Indian government in a statement stated that the decision to ban the app was “to protect the data and privacy of its 1.38 billion citizens”.

    Which is the best platform for short videos?

    The best platform for short videos based on its features are as follows:-

    • Instagram
    • TikTok
    • Moj
    • Josh
    • Likee
    • Taka Tak
    • Snapchat
    • YouTube Shorts
    • Dubsmash

    Which short video app is best to earn money?

    The best short video app to earn money are as follows:-

    • Kwai
    • Instagram
    • Likee
    • TikTok
    • Moj
    • Josh
    • Taka Tak
    • Vigo Video

    Which app is best for short video editing?

    The best video editing apps are:-

    • InShot
    • KineMaster
    • Movavi Video Editor Plus
    • FilmoraGo
    • ActionDirector
    • Adobe Premiere Rush
    • Funimate.

  • Gojek Business Model – How Does Gojek Make Money?

    Gojek is an Indonesian super app which is a one-stop destination for paying bills, booking movie tickets, ordering food, buying groceries, sending or receiving packages, booking two-wheeler or four-wheeler taxis, paying money digitally and much more. The company provides 20+ services to consumers.

    The company which started as a ride-hailing service with just 20 motorcycles is now Indonesia’s first decacorn.

    In May 2021, Gojek merged with Indonesian e-commerce company Tokopedia to form GoToGroup. The company has created its own ecosystem and is growing at a rapid scale.

    In the beginning, the company faced tough competition from Uber but, still, the company was able to beat the company all thanks to its business and revenue model.

    Let’s decode the business and revenue model of Gojek, shall we?

    What is Gojek?
    Main Services of Gojek
    Target Audience of Gojek
    Business Model of Gojek
    What Is Unique About Gojek?
    How Does Gojek Make Money?
    How Did Gojek Destroy Uber?

    What is Gojek?

    Gojek is an Indonesian company that has a super app using which you can pay money digitally and get access to on-demand services in various sectors like transport and logistics, food and shopping, daily needs, business, news and entertainment. Basically, the app is a one-stop destination for users to get a wide variety of services.

    Gojek operates in 5 counties: Indonesia, Vietnam, Singapore, Thailand, and the Philippines. The headquarters of this company is in Jakarta.

    The journey of the company started in 2010 when the company had 20 motorcycle drivers who were providing on-demand bike rides to passengers. Later, the company started providing food delivery and courier services.

    Although things completely changed for the company when it launched its official app in 2015 with four services: GoRide, GoSend, GoShop, and GoFood. Later, Gojek changed its business model to a super app and the rest is history.

    Main Services of Gojek

    Gojek provides 20+ services to its users:

    Transportation and Logistics:

    • Goride: Get a two-wheeler taxi and reach your destination on time.
    • Gocar: Book a four-wheeler taxi.
    • Gosend: Send or receive packages within a few hours.
    • Gobox: If you moving out and want to shift your goods to the new house you can use this service.
    • Gobluebird: Book exclusive Bluebird rides (Bluebird is Indonesia’s leading taxi operator).
    • Gotransit: Acts as a trip assistant where users can plan, track and reach from one destination to another using: public transportation, Gojek transport or a combination of both. This service provides real-time updates.

    Food and Shopping:

    • Gofood: Order food online from your favourite restaurant.
    • Gomall: Buy products from the online marketplace.
    • Gomart: Get groceries at your doorstep.
    • Gomed: Buy medicines from licensed pharmacies.

    Payments:

    • Gopay: 4th largest e-wallet service in Indonesia
    • Gobills: Pay your bills online.
    • GoPaylater: GoPayLater from Findaya provides a payment method where users can pay bills, buy clothes and pay the money in the upcoming months
    • Gopulsa: Top up your data and talk time.
    • Gogive: Donate money to the trusted NGO and GO beneficiaries.
    • Goinvestasi: Buy and sell gold and get the money credited to your Gopay account

    Daily Needs:

    • Gofitness: Access exercises such as yoga, Zumba, pilates and many more

    Business:

    • Gobiz: This service is especially for merchants who want to manage and grow their business.

    News and Entertainment:

    • Gotix: Book movies and events tickets
    • Goplay: Stream movies and web series
    • Gogames: Get gaming tips, top-up gaming credits and watch your favourite gamers
    • Gonews: Read the latest news

    Target Audience of Gojek

    The target audience of Gojek is people between the age group of 18-34 years old who live in urban cities. The company also targets people who are not financially stable by providing them with their digital payment service: Gopay.

    Since Gojek provides a wide variety of services they are able to cater for the needs of a larger audience. Their super app model allows them to connect with different kinds of people from different sectors.

    Business Model of Gojek

    Gojek follows the super app business model where they provide a wide range of services to its users on a single platform. This means that instead of using one app to book movie tickets and another app to send packages they can use Gojek to fulfil both of their demands.

    The super app model provides a more convenient approach and also saves time for the consumers. This business model works really well because nowadays consumers have become impatient and want things as fast as possible.

    The business model of Gojek revolves around three segments: consumers, merchants and drivers.

    Let’s see how the super app works for these three segments:

    Consumers:

    First consumers need to identify what kind of service they want. For example, do they want to book movie tickets, send packages, book a two-wheeler or order food?

    If the customers want to order food online, Gofood is the right option. The second step would be to select their desired food and add it to the cart. Finally, they have to pay the money. After paying the amount consumers will receive the food at their doorstep.

    Merchants:

    Once the food is ordered or any kind of service is requested the merchants will receive the order details in their Gojek app. Once merchants understand the order details they need to start processing the order. In the meantime, the delivery driver is on his way to get the product.

    Merchants have to make sure that they make the product or service as soon as possible. Once the order is ready, the delivery guy takes the product and delivers it to the customer. When the product is handed over to the delivery guy the money is instantly deducted from the merchant’s Gopay wallet.

    (All the transactions on Gojek are majorly done via Gopay)

    Drivers:

    Drivers need to first sign-up with Gojek by providing some basic details like name, address, identity proof, vehicle number, license number and many more.  The internet connection of drivers needs to be really good if they want to receive a large number of orders.

    Drivers can choose from a wide variety of services. They can sign up as the two-wheeler taxi driver, car drivers, delivery guys and much more. To get started they need to turn on the online icon which is present in the Gojek app. Once they turn it on, they will start receiving the orders.

    If a delivery guy is busy delivering products, the app shows him busy and the order is automatically assigned to another driver.

    What Is Unique About Gojek?

    The USP of Gojek is that the company provides 20+ services which users can access from just a single app. To beat its competition the company started using scooters and motorcycles instead of cars to avoid the huge traffic jams. Due to this brilliant idea, the services of Gojek became more premium and hassle-free.

    How Does Gojek Make Money?

    Commission from Consumers:

    Gojek gives a one-stop solution to its consumers for all their demands. They don’t have to install numerous apps to fulfil their needs. Instead with just Gojek, they can access 20+ services. For this convenient and fast service, consumers need to pay a service charge of 10% of the order.

    Commission from Merchants:

    A lot of merchants want to showcase their products and services on Gojek. Due to the huge customer base and popularity of this super app, everyone wants to grow their business and open new streams of revenue. Gojek takes a small commission from the retailers on each order that they get. This commission is automatically deducted from the retailer’s wallet when they hand over the product to the delivery guy.

    Commission from Drivers:

    Drivers and delivery partners also need to pay Gojek a commission of 20% on each order delivered. This is a smart strategy since it encourages drivers to deliver more products in order to gain profit.

    How Did Gojek Destroy Uber?

    In the beginning, when Gojek started its ride-hailing service its biggest competitor was Uber which had already earned its name in the market. Although Uber wasn’t able to capture the market and its newly arrived competitor Gojek grew both its customer base and profit.

    What is one thing that allowed Gojek to beat Uber?

    Gojek was able to beat Uber because the company had studied the local market of Indonesia in detail. The company had understood most of the cities in Indonesia has a huge traffic jam. In this condition, using cars to deliver passengers won’t be a smart decision.

    To avoid traffic jams and speed up their process Gojek started using scooters and motorcycles. This made the transportation service of Gojek much more convenient and hassle-free.  On the other hand, Uber’s business model was purely revolving around cars which made it impossible for the company to grow.

    Another advantage of incorporating scooters and motorcycles in their business model was that it was much cheaper for people to buy two-wheelers than a four-wheeler. This helped Gojek to get a huge amount of drivers.

    After that Gojek transformed itself into a super app which further helped the company to capture the whole market.

    Conclusion

    The business and revenue model of Gojek taught us that we should always understand the target audience’s needs and behavioural patterns. We should also study the local market in great detail. These two things will allow you to build a powerful business model.

    Gojek understood that most of the cities in Indonesia have a lot of traffic congestion. So, when the company started its ride-hailing service it started using scooters and motorcycles instead of cars to avoid traffic jams. This made the company’s services more premium and attractive.

    After that, they started giving a wide variety of services to acquire more customers. Gojek is successful today because they have simplified the customer journey and made their services top-notch.

    Remember, when you provide quality services to the customers your business will automatically grow. You should always try to innovate and aim to make the lives of your customers easier and happier.

    FAQs

    How does Gojek operate?

    Gojek follows a super app business model where they provide a wide range of services like paying bills, booking movie tickets, ordering food, buying groceries, booking a four-wheeler or a two-wheeler taxi and much more on a single platform.  Gojek operates with 3 people in its business model: Consumers, merchants and drivers.

    How does Gojek make profits?

    Gojek earns profits by taking commissions from its consumers, merchants and drivers. Consumers need to pay a service charge of 10% of the order. While the drivers receive a commission of 20% on each order delivered.

    How does Gojek make profits?

    Gojek focuses on bikes and scooters instead of cars to avoid traffic jams and speed up their process.

  • Top 10 Important Elements to Include in Your Pitch Deck

    The world is witnessing a huge rise in the number of startups in recent years. Many youngsters are showing interest in developing innovative ideas and starting their own businesses. Thanks to affordable technology for feeding ideas and options to those young entrepreneurs to shape their dreams.

    The first and foremost thing that a startup requires is a fund. However creative the idea is and however talented the founder is, the startup will never take a step further without funds. So, how can a startup raise funds? There are various investors and venture capitalists who are ready to fund startups with excellent business ideas and a knowledgeable team.

    The primary thing that the founders should do is impress the investors with the pitch. The pitch deck should contain such things that should convince the funders to release money from their pockets. Let us know more about the pitch deck and the elements it should carry most importantly in it.

    What is a Pitch Deck?
    Important elements to be included in your Pitch Deck

    1. Product
    2. Problems
    3. Solution
    4. Funding and Financials
    5. Revenue Model
    6. Traction
    7. Target Market
    8. Competitors
    9. Team
    10. Exit Strategy

    Pitch Deck Tips

    What is a Pitch Deck?

    A Pitch Deck is a presentation that gives an overview of the startup to the investors. It should contain all important information about our business like its nature, demand in the market, future plans, strategies, etc. Informative and short pitches are the ones that gain the interest of investors.

    Initially, Pitch Deck serves to be the face of a startup and it is how we introduce our company to the financial backers. The first impression it creates stands out to be crucial. So certain things that cultivate trust in the survival, success and future of your startup have to be considered and included while getting the pitch ready.

    Important elements to be included in your Pitch Deck

    The following article covers the important requirements for a pitch deck:

    Product

    If yours is a product-based startup, then take your product to the investors. Get them to know your product personally. Sometimes, your product might speak more than your words. Let them use your product and know it well. Even if your product is in the development or underdeveloped stage, create some samples or models to present to the investors. The visual presentation would give you an added advantage during the pitching.

    Problems

    Give a brief explanation of the problems you are facing as a business. Explain where the problem exists, the reason for its existence, where future issues can arise and so on. A simple narration with a relatable example could help investors understand the problems better. This might gain you a positive note on your in-depth business knowledge and a solution to the problem. Even if the investors fail to invest in your startup, their experienced advice could be of great help in the future.

    Solution

    Moz Solutions in Pitch Deck
    Moz Solutions in Pitch Deck

    Providing solutions to the problems can cause you some good during the pitch. If identifying the problem shows your understanding of the business then solutions show the knowledge you possess over it. Explain to them how you are going to solve the problem, how it is going to impact the business, the reason for choosing this particular solution, etc. If the solution or the strategy is adopted from a predecessor, then explain how they made it happen. Also, be prepared to counter any questions to be shot against you by the investors.

    Funding and Financials

    Investors won’t grant funds without you asking for it. You need to quote the required funding amount, its purpose and how it will be utilized, and the return the investors would get from it. If you are an existing startup, then you need to provide your past financials in a simple chart or graph along with the above-said details. It should contain spending, areas of your spending, profits, revenue, etc.

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    Revenue Model

    How do you make your revenue? An investor would be most interested to know your revenue model. You can use the information from the target market slide to assist you in briefing the revenue model. Explain the demand for your product or service in the market and how it would pay you back. Dissect the cost and profit from your sales and give brief reasoning for your pricing strategy. This is the other most important element to be included in your pitch deck.

    Traction

    Moz Ptchdeck 

    Project your company’s growth with the current market situation for a foreseeing future. If you are an already existing startup then elaborate your growth trajectory in the pitch deck. You can also mention the benchmarks you have created or the milestones achieved in the past. It can be anything in terms of profit, revenue, sales, awards, etc. This is done to incite confidence in the investors and reduce the fear of risking their finances.

    Target Market

    Sickweather Pitch Deck showing Target Market
    Sickweather Pitch Deck showing Target Market

    Every company, product or service-based, has a target market or customers. That particular targeted area should form part of your pitch deck. When describing this segment, you can include the nature or category of your market, the current and future demand, the impact of your competitors, and so forth. Investors would like to know where the major focus of your startup would be. They might judge your company’s long-term stability with the market you are about to target.

    Competitors

    One of the most important elements to be included in a pitch deck is the competition. Knowing the competition helps you to know about your business well. Since every action of the competitor might have a direct impact on your success and survival, understand your competition well. Not knowing them is a result of ignorance and improper market study. No investor would be ready to invest even a dime in such a startup. So, include a detailed study on your competitors in your pitch deck.

    Team

    Buffer Team in Pitch Deck
    Buffer Team in Pitch Deck

    A team is the core of any business. However great your planning and strategies might be, you need a great team to put everything into action. Assigning the roles to your team, and choosing the right person for the right task, is highly important. Give the investors a clear map of your management and operations team and their expertise.

    Exit Strategy

    Every investor wanted to know the exit strategy when the business gets transformed into a larger one, like going public, in the future. They would like to know your plans for the future and expansion strategies, or in simple terms, where the business will be in the next five or ten years. If you are planning on something like getting acquired, divesting your investments, etc. explain why it is the best choice for the investors.

    Conclusion

    The above are some of the key elements that should become a part of your pitch deck. They assist you in creating an imposing pitch presentation that in turn helps you secure funds and investors for your startup.

    FAQs

    What is a pitch deck?

    A Pitch Deck is a presentation that gives an overview of the startup to the investors.

    What are the important elements to be included in your Pitch Deck?

    10 important elements to be included in your pitch deck are:

    • Product
    • Problems
    • Solution
    • Funding and Financials
    • Revenue Model
    • Traction
    • Target Market
    • Competitors
    • Team
    • Exit Strategy

    Why Is Pitch Deck Important?

    Pitch deck is the first communication means for entrepreneurs to reach out to potential investors.

  • The Future Of D2C Industry – Trends Lean Towards Data Analytics and Research

    The article is contributed by Shashank Jain, Co-founder, Strawfit (Bourgeon Foods LLP)

    Owing to a decade of technological advancement and the last few years of the pandemic, there has been a fundamental change in the way businesses and customers engage with each other. After the jolt that the traditional retail sector faced, there’s a rise in India’s currently growing direct-to-consumer phase, with D2C brands thriving as online channels have become the go-to destinations for almost every consumer. For those still struggling with the concept, Direct-to-Consumer, or D2C, is an emerging business model of a customised shopping experience where the product is provided directly to the customer by a business, bypassing any sort of middleman in between, hence being cost-efficient.

    With an estimated 700-800 D2C brands valued at over USD 100 billion by 2025, India is expected to be a hotspot for startups. A plethora of emerging service providers in India indicates the total addressable D2C market growth by over 15 times from 2015 to 2025. According to research by Statista, this total addressable market was valued at 33.1 billion U.S. dollars in 2020, which by 2025 was forecasted to grow almost threefold, making India a hotspot for startups. Currently, the segments that are growing at an ever-increasing speed in the Indian D2C market include consumer electronics and FMCG, with an expected worth of USD 43.2 billion and USD 30.8 billion, respectively, by 2025.

    The popularity of the D2C industry is booming and will continue to expand. To increase buyer-seller interaction, making purchasing more engaging, pleasurable, and long-term, brands in this space leverage certain market trends.

    Some of these trends that we recommend entrepreneurs in their operations are:

    ● Sustainable Manufacturing: Consumers are increasingly sceptical of brands that generate revenue through unethical business practices. Brands that are transparent about their business practices, from sourcing raw materials to manufacturing and supplying, generate more goodwill. Transparency creates trust, and people are more likely to buy from brands they trust. Brands that fail to build sustainability into their business models risk becoming less relevant to this new generation of consumers.

    ● Data Analytics: Until recently, brands had little access to customer data beyond surveys or third-party data. D2C enables brands to understand customers and their demands like never before, thanks to their continual personal connection with their customers through their experiences or surveys. Brands have realised that customer data is a powerful instrument that, when combined with analytics and technology, can be utilised to provide personalised experiences for customers.

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    ● Leveraging Social Media: Social networking is a strong tool for new businesses. Platforms like Facebook, Instagram, and Twitter can assist you in reaching an untapped worldwide audience and assist in developing a brand image in the market with existing competitors. Influencers have a strong and tailored hold on specific audiences, making them one of the newest and most powerful marketing tools. A product like a milk flavouring straw for kids, for example, can’t be directly promoted to them and is instead marketed to mommy bloggers and health bloggers. More than just following these trends, it takes a lot of work to create a solid revenue model for your business. Running a business at any stage of development is not easy. For this, it is essential to have proper planning. Here are some of the key takeaways that we believe can help these entrepreneurs make more informed decisions and develop more refined products, especially in the early stages of a business.

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    ● Bring forward a solution: Consumers are smart these days, searching for products that solve their current problems. The most common reason for a startup’s failure is a lack of market demand. You have a market need if your product solves an unpleasant, common, and repeatable problem for a large number of people. If not, then it can be easily overlooked by the customers.

    ● Focus on the product: The product you create is what makes up the face value of your brand and it’s a crucial task to make your product stand out in the market. Your main focus should be to at least give your product a competitive edge over the current competitors, so it seems like a convenient and better choice.

    ● Detailed Research: Before starting a business, thorough market research is essential. You have to research current trends, learn about the product, and understand its potential market and what your customers need. It also allows you to visualise your competition by telling you what other products and services like yours are available, customer reactions to them, their prices; etc.

    ● Financial Modelling: Managing monetary resources can be a tricky part that needs close attention. It is essential to have a well-developed financial model. From funding operations to having precise financial projections for the next few years, having a robust financial model is crucial for a business to grow. Don’t mind taking professional guidance to help you out with these things to avoid any major setback to your business.

    ● Keep trying and learning: Starting a business requires being inspired, motivated and willing to take risks. While every successful entrepreneur makes many mistakes, that doesn’t stop them from experimenting with their concepts and learning from their own and others’ mistakes. With that said, care also needs to be taken so that there is no undue waste of resources due to this experimenting.

    Conclusion

    With more people choosing to be independent buyers due to fading technological barriers, we believe that D2C is here to stay. It is an exciting time for entrepreneurs in the country to enter the market, especially with the boom in the startup culture. The times demand that entrepreneurs rethink how they interact with customers and their relationships with them. If played well, D2C can be the most powerful weapon a retail-based entrepreneur can hold.

  • TVFPlay — The Pioneers of the Indian Streaming Service Industry

    The content in this post has been approved by the organization it is based on.

    Love watching videos? Ah! Everyone loves it! Varieties of web series and engaging videos are seen and loved by all which are often produced by iconic channels. There are always places and videos that you may like or may not like. But we have to keep in mind that everyone’s choice and taste are not the same. So things should always be presented in a way that is liked, loved and respected by all by every means.

    TVFPlay is one of India’s most loved online streaming platforms. Youngsters enjoy the entertaining original web series here a lot.

    Read the TVFPlay success story below and know more about its founders, business model, revenue model, funding and more.

    Company Highlights

    Startup Name TVF (The Viral Fever)
    Founder Arunabh Kumar
    Founded 3rd August 2015
    Headquarters Mumbai, Maharashtra, India
    Parent Organization Contagious Online Media Pvt. Ltd.
    Sector Entertainment and Online Media
    Website tvfplay.com

    TVFPlay – About
    TVFPlay – Founder And Team
    TVFPlay – Logo
    TVFPlay – Business Model
    TVFPlay – Revenue Model
    TVFPlay – Funding And Investors
    TVFPlay – How Is It Becoming Viral?
    TVFPlay – Growth
    TVFPlay – Competitors
    TVFPlay – Future Plans

    TVFPlay – About

    TVFPlay started as an online YouTube channel which was introduced by TVF Media Labs in 2010. It’s presently occupied by Contagious Online Media Pvt. Ltd. The company’s motive is to reach out to the younger population who loves watching television entertainment. It was one of the early comings of the Indian digital entertainment component.

    TVFPlay – Founder And Team

    Arunabh Kumar, Founder of TVF
    Arunabh Kumar, Founder of TVF

    Arunabh Kumar is the founder of TVF. He was born on 1982 November 26th. He faced a number of troubles in his life and there seems to be no end to that. He works on presenting various sorts of social issues. He is also the mind behind the fictional web series Permanent Roommates and Pitchers. He was accused of sexual harassment that took place at his company while working. It was faced by 2 employed women. Arunabh Kumar resigned as the CEO of TVF and started his own comic book venture, Indusverse

    The team is entirely focused on producing something funny rather than acquiring fame. The one and the only man behind the invention is Arunabh Kumar – the founder and former CEO of the company.

    TVF Logo
    TVF Logo

    TVFPlay – Business Model

    The major source of revenue for the company is brand sponsorship from several brands like Ola, CommonFloor, Tata, etc and also from advertisements via YouTube as mentioned above.

    The company has also got its own app so it’s profitable for them to have something of their own. They made it possible by hosting numerous funny videos which were their objective for the youngsters of today. They succeeded indeed in fulfilling the promises they made in the beginning.

    TVFPlay – Revenue Model

    The company is an online content channel created by the founder Arunabh Kumar. It generates revenue from YouTube as well as from other brands. For such kinds of companies, subscriptions are the keys to earning. They also acquire numerous clients which is a part of the revenue model. The estimated yearly revenue of TVF is $32.7 million.

    The company also generates revenue from YouTube. They have got 2 million+ subscribers on YouTube. The company gets revenue when someone clicks on its ads. But they don’t get the money if anybody likes or shares their video or even comments on it no revenues are gathered in that case.

    TVFPlay – Funding And Investors

    TVFPlay has raised a total amount of $26.9 million in funding over the 5 funding rounds.

    Date Transaction Name Amount Raised Lead Investor
    Nov 10, 2021 Venture Debt $2 million BlackSoil
    Jun 01, 2019 Venture Debt Undisclosed BlackSoil
    May 22, 2019 Series D $5 Million Tiger Global Management
    July 20, 2018 Venture Round $6 Million Tiger Global Management
    February 17, 2016 Venture Round $10 Million Tiger Global Management

    TVFPlay is funded by only 2 investors. It is Tiger Global Management and BlackSoil.

    TVFPlay – How Is It Becoming Viral?

    The company has earned millennial audiences. Especially those ranges between 18 to 35-year-olds. These people watch several videos each day. For more than 3 hours on such sort of platforms. The spectators, as well as the viewing time, are growing every day with the help of the media.

    The strategy of the company is to offer local and youth-oriented content. This is the only formula they are using and the spectators are helping them to launch and perform well with various targets in India.

    TVFPlay – Growth

    The 1st web series of the company ‘Permanent Roommates‘ debuted. It was the 2nd most viewed long-term web series in the world at that time. Pitchers was a production of this company. It was released and the story was how 4 friends quit their jobs to build a startup company of their own by facing various obstacles.

    These 2 shows were very popular when it was released and was almost watched by all over the world starting from the youngsters to the middle-aged ones. The way you provide more likely things to your youngsters the more you build your own empire and grow with strength.

    TVFPlay – Competitors

    The competitors of the company are Apalya, YuppTV, Livestream, Spuul, Hantover, Dacast, Disney+Hotstar, iStreamPlanet, NexGTv and iflix. All together they have raised a sum which is more than 842.7 million. It is more than what all did except. TVF’s revenue is the 10th ranked company among its top 10 competitors.

    TVFPlay – Future Plans

    The company has got big plans for 2022 and more years to come. In the year 2019, it released 12 original shows and it has got plans of releasing more original shows on platforms like MX Player, Netflix and Amazon Prime Video. The CEO says when they released 12 original shows, great success came to them and maybe when they will be releasing 20 something great is waiting for the entire team.

    Their contents are licensed and well received by Netflix and it’s a big thing for the entire startup company. It also puts its content on its YouTube channel. The biggest hit of the company was Kota Factory. They aspire to bring more such for its young audience.

    Conclusion

    TVFPlay is a premium content destination from The Viral Fever (TVF). It caters to all those who want to have a premium content experience, but cannot find anything worth watching on the traditional channels.

    It hosts all of TVF’s premium shows as well as shows and content from around the world which TVF believes its audience will enjoy watching. On TVFPlay, you can browse and watch regular shows and content, created and curated especially for the young audience, across a variety of genres like Humor, Drama, Trends etc.

    TVF – FAQs

    Who is the owner of TVF?

    Arunabh Kumar is the founder and former CEO of TVF.

    Why is TVF famous?

    TVF is popular because of its shows like Pitchers, Permanent Roommates, and Kota Factory which transformed the streaming service industry in India.

    Who owns The Viral Fever?

    The parent organization of TVF is Contagious Media Pvt Ltd.

    What are some of the subsidiaries of TVF?

    Girliayapa, The Screen Patti, The Timeliners, Funda Curry, and TVF Machi are some of the channels of The Viral Fever.

    What is TVF?

    The Viral Fever (TVF) is an online digital entertainment network offering original shows and videos specially curated for an Indian audience.

    When was the TVF founded?

    TVF was founded in 2010 by Arunabh Kumar.

    Is TVFPlay free in India?

    Yes, you can watch shows of TVF for free on its YouTube channel or app.

  • Is Vicco Dying? – Story of Once Most Popular and Loved Brand

    I know your mind has started humming that jingle. Earlier, people used to love singing Vicco’s jingles, just like they did movie songs and we still do that whenever we spot a Vicco product. Such jingles are referred to as classic jingles, and each memorable jingle or music has a fascinating past.

    Its jingle made it the most renowned and well-liked brand in every home. Everyone loved their products, whether it was their lotion or toothpaste. Vicco modified its branding and marketing strategy in light of newly emerging trends. However, the fact that it was a herbal product remained unchanged. Vicco continues to operate given the ongoing competition because of its USP.

    Vicco – History
    Vicco – Marketing strategy
    Vicco – Promotion strategy
    Vicco – Vicco vs Central Excise
    Vicco – The lawsuit’s response
    Vicco – Business expansion and Product Diversification
    Vicco – Awards
    Vicco – Media Presence

    Vicco – History

    Keshav Pendarkar founded Vicco in 1952. In Nagpur, he was running a local ration shop. We all possess high aspirations and are striving to achieve them. We all desire to attain more ambitions in life, and Keshav was no exception. As a result, he relocated to Mumbai with his family and began working for his goal.

    He soon began his business in a modest godown, producing chemical-free teeth cleaning powder for folks of all ages. He devised this strategy since it is something that would be used daily and by anyone. As a result, the possibilities of it being famous were higher, and that’s what prompted him to manufacture a product like this.

    Keshav and his sons practised door-to-door sales because they had no other way to promote their products. Vicco teeth cleaning powder, derived from 18 different medicinal herbs, gained popularity over time, and the Pendharkar family decided to establish their business.

    In 1952, Keshav was thinking about the future and observed that folks were using toothpaste instead of tooth powder to clean their teeth. Keshav requested his son, Gajanan Pendharkar, a pharmacist, to create toothpaste out of the medicinal herbs. So Vicco never used any chemicals in their toothpaste as some kinds of toothpaste had fluoride, which might have posed health issues if swallowed by the user.

    They didn’t want anyone to get sick from using their toothpaste. They eventually received a positive reaction to their products, but Keshav passed away in 1971. Gajanan Pendharkar, his son, continued his father’s business. The company’s turnover was approximately Rs 1 lakh at the time, and Gajanan was the one who transformed it from an ordinary brand to India’s most renowned brand.

    Vicco – Marketing strategy

    Vicco’s skin products have always been yellow, symbolizing the brand’s long-lasting relationship with turmeric and its effects on perfect skin, whilst the logo depicts antiseptic aspects.

    Many domestic and global care products were still making their way into India in that era. Vicco seized this chance to establish a foothold because customers demanded speedy solutions. It launched a product named “Vicco Turmeric” cream that resided in the hearts of youth suffering from acne who couldn’t wait for a long-term cure. It also claimed that this product blocked the absorption of damaging ultra-violet radiation.

    There was no guarantee that it could survive in the market since it was chemical-free and was made just from turmeric and other medicinal herbs. People were concerned that the cream’s yellow tint would turn their faces yellow.

    This issue was solved by requesting the salesperson to test the cream on the cheeks of the merchants and then showing customers the outcomes in a mirror. Now, we know Vicco Turmeric’s marketing adventure has been filled with new ideas.

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    Vicco – Promotion strategy

    The firm opted to use television to reach potential customers. Only Doordarshan was available on television during those days. Gajanan Pendharkar used a distinctive manner of presenting its company. He spoke with the producers of the TV show “Yeh jo Zindagi hai,” which led to Vicco’s commercial being aired during the show’s broadcast.

    It was the first brand to sponsor a television show just so their jingle could be broadcast repeatedly, and this was called “marketing blitzkrieg” meaning “doing your branding on multiple platforms at the same time.”

    Folks used to buy videotapes to see movies during those days, and Vicco transmitted its jingles in local dialects on those tapes as well. Indians residing in other countries bought the tapes, hence more people became aware of the brand.

    The ads claimed that the lotion is good for the skin and elegance, highlighting the therapeutic benefits of turmeric as found in Ayurveda. Vicco Turmeric Skin Cream was marketed as a blend of turmeric’s antibacterial qualities and sandalwood oil’s calming and refreshing effects.

    Aside from promoting a healthy, bright complexion, the commercials also showed ways it could be utilized as a medication to treat cuts and bruises, acne, and burns.

    In the meantime, the firm’s advertisement for Vicco Turmeric WSO Skin Cream focused on the medicinal benefits of turmeric for skincare, while the exclusion of the pricey component of sandalwood oil made it economical perhaps to the general public.

    Although Vicco Turmeric Skin Cream has lost its competitive edge due to the success of its rivals, the firm has been utilizing platforms such as tv and radio to inform the masses about the importance of Indian herbs and their significant uses.

    Vicco has recently introduced skin moisturizers, sunscreens, and oil-based lotions to cope with the present while remaining a subtle but important aspect of our culture.

    Vicco is now attempting to reposition itself as a youth-oriented brand. They recently signed Alia Bhatt as the face of their Vajradanti toothpaste and worked with her on ads.

    Vicco – Vicco vs Central Excise

    Vicco Vajradanti and Vicco Turmeric Skin Cream were not qualified to be categorized as herbal remedies, as stated by the business, and were rather identified as cosmetics by the Central Excise Department in 1978.

    Vicco Labs, not accepting the department’s claims, filed a lawsuit in Civil Court to oppose the allegation. On the 6th of May, 1982, the court ruled in Vicco’s favour, declaring that these goods were “ancient herbal formulations and not cosmetics.”

    When the Excise Department denied the ruling and initiated a lawsuit, the situation became even worse. They took the case to the high court, but the high court too ruled in support of Vicco stating that since it was herbal medicine, no tax could be levied. However, in that period, a tax and central excise reform were introduced, and this new central excise tariff act 1985 was adopted in 1986, and once it was enacted, a second trial was started, this time by central excise on Vicco, and that case lasted several years.

    Finally, in 2007, the verdict of this long legal dispute was announced. The Judge ruled in favour of Vicco and that cosmetic taxes cannot be levied against them, they must be abolished.

    The essence of the story, however, is how a lawsuit prompted the business to communicate and present the brand as ayurvedic rather than cosmetic, which was lauded as one of the smartest approaches in the sector.

    Vicco – The lawsuit’s Response

    Is Vicco’s product Ayurvedic or cosmetic? That was the question at the inception of this judicial dispute. To respond, Vicco explicitly stated in the jingle, “Vicco turmeric, Not cosmetic; Vicco turmeric ayurvedic cream.” Although it is a classic jingle, it was created with the most basic line anyone could imagine. That is why, over time, even the most basic things can become iconic. So try to keep it simple.

    Vicco – Business expansion and Product Diversification

    Did you know that Vicco’s current turnover is over 500 crores? It has built factories in Dombivli, Nagpur, and Goa to expand its business. However, in 1986, Sanjeev Pendharkar understood that his pharmacy diploma would not be enough, so he pursued a management and law course to help the company flourish.

    They began as a small tooth powder firm and have since expanded to include a diverse product portfolio such as Vicco Vajradanti paste, Vicco turmeric cream, Vicco sugar-free paste, Vicco foam base, Vicco turmeric facewash, and so on. The firm exports its goods to 30-40 nations worldwide.

    Vicco – Awards

    • In 1980, the company received an “International trade trophy award”.
    • Vicco was ranked 28th among India’s most trusted brands according to the Brand Trust Report 2012.

    Vicco – Media Presence

    Vicco can also be found on all sorts of digital media. The firm is actively organizing its advertising and promotion activities in this digital era. Besides launching ad campaigns like #NoFilter on Instagram, the firm has been consistently maintaining its social media presence with frequent posts and influencers.

    Vicco Turmeric is a frequent online coach for natural and brighter skin with brief lesson clips thereby placing Ayurveda in the spotlight, developing content to connect with people.

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    Conclusion

    Vicco’s marketing adventure has fostered and revived the spirit of therapeutic remedies and perks in this modern era, by it being the lead promoter of Ayurveda and using herbal supplements in its products. It has proven to be a fighter in the face of severe rivalry from multinational cosmetics companies, and this outlines the brand’s branding and promotion tale.

    I hope you found this story behind the Vicco jingle interesting.

    FAQ

    Is Vicco company closed?

    No, the company still sells its paste, face wash, and other products. The revenue of the company was  Rs 190 Crore in 2021.

    Who is the founder of Vicco?

    Keshav Pendarkar founded Vicco in 1952.

    What is the revenue of Vicco?

    The revenue of Vicco is Rs 190 crore in 2021.

    When was Vicco Turmeric launched?

    Vicco turmeric cream was launched in 1965.

  • How Do Job Portals Make Money? | Job Portals Revenue Model

    More than 26% of the Indian population is using the internet today. Different people spend time surfing the internet for various reasons. Be it ordering food online, shopping from e-commerce platforms, or searching for jobs, our lives today are very much dependent on such platforms.

    Today even online job portals have become a crucial part for both job seekers as well as recruiters. The hiring process has become easy for companies and there are abundant opportunities available for the candidates. However, there is certainly one question that comes to our mind – How do job portals make money?

    Almost all job portals give the option to explore jobs, seek opportunities, and register for job updates just for free. In this article, you will get to know how these job portals make money.

    Advertisements
    Database Selling
    Premium Content
    Affiliate Marketing
    Email Newsletters
    Offering their Products and Services
    Hiring Events

    Advertisements

    There are several ways in which these job portals make money by publishing advertisements. Usually, when a company is in need of employees, they contact job portals in order to outsource some of their work.

    Job portals advertise these job openings on their homepages and websites where they get huge traffic of visitors. The job portals advertise such posts into various categories depending upon the job location, type of job, etc.

    In addition to job posts, there are many other ways in which these job portals can earn a huge amount of money by displaying advertisements. For example – Google AdSense. This is one of the most efficient ways to monetize the website. By creating an account on Google AdSense, these websites can publish advertisements and earn heavy amounts if they have a good volume of traffic on their website. This money is usually earned by pay per click model.

    Another common method of earning through websites is by placing banner ads on websites. These banners feature jobs, services, or products related to the website niche and the clients get good visibility on the job portals. Banners, buttons, tile adverts, and all such related advertisements help the job portals to earn a good amount of money.

    Database Selling

    Whenever anyone wants to look out for jobs online, these job portals ask for free registration by simply making an account on their website. The registration details include the job seeker’s name, email address, phone number, etc.

    This data is recorded with the job portals and whenever companies are in need of prospective employees or are looking out for candidates for the recruitment process, the job portals sell them this data.

    This is one of the most common and simple ways of earning money for job portals. Also, there are many such platforms that also sell data to job seekers. This data is nothing but details about the vacant positions in different companies.

    Premium Content

    Today many job portals have differentiated their services into free services and premium services. This helps them to make their customers buy their premium services.

    By charging a basic amount to the customers i.e. both the recruiters and job seekers, these websites earn handsome money. To the employers, these portals sometimes charge on the basis of every candidate they interview or offer services in a lump sum.

    As far as the job seekers are concerned, these portals charge fees monthly or annually depending upon the need of the candidates.

    Affiliate Marketing

    Many job portals try to use affiliate marketing strategies to earn revenue. Affiliate marketing is nothing but a process of making money by recommending other’s products and services.

    When the buyer is interested in that product or service, the affiliate marketer gets a commission on every sale. Similarly, job portals use this technique. They act as an affiliate and charge commission from recruiters and applicants.

    Email Sales

    The job portals extensively survive on the database that they have. It is one of the most important assets of their business. One such key resource email. When the companies plan to have mass recruitments and enormous openings, they reach out to job portals for purchasing email databases.

    Since it is unlikely for a company to hire candidates by just sending emails to them, it actually helps them to get many options so that they filter the best ones according to their needs.

    Offering their Products and Services

    There are various products and services that are offered by job portals. A few of them are mentioned below:

    Resume Writing

    Many job portals offer resume writing services for job seekers. They partner with professional resume writers and provide these services to their customers on a chargeable basis. These resume writers also help job seekers to modify, change the existing resumes of the customers.

    Resume Featuring

    Another interesting service offered by job portals is that they feature your resume if you take their premium services. Many job seekers are very serious about finding the perfect opportunity and resume featuring can be very helpful for them.

    Resume featuring can help the candidate stand out from the crowd as their resume would be highlighted for a certain period by the job portal on their website or platform.

    Another type of resume featuring is by recording a video resume or cover letters with which the candidates can be highlighted on the job portals.

    There are courses offered by various job portals that are designed to add value to job seekers’ profiles. These job portals sell such courses, provide certificates after course completion, and earn money.

    Coaching Services

    Job portals offer their coaching services for job seekers who want to develop their resume writing skills, cover letter writing skills, and interview skills. They have various professionals from the industry who help job seekers in learning and improving these skills.

    Hiring Events

    There are various job portals like Indeed that allow employers to promote their hiring events in which they virtually interview multiple candidates. Employers post and promote such events on these job portals. This attracts many candidates who are then interviewed before the event is hosted.

    Once these interviews get over, the shortlisted candidates are invited to the hiring events. In order to do conduct all such activities, job portals charge a fee to the employers.

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    Conclusion

    These were some of the common ways job portals make money. Many job portals let job seekers create an account for free and then try to sell their products and services or courses to earn revenue. One of the major sources of revenue for every job portal is database sales.

    FAQ

    Is job portal business profitable?

    Yes, a job portal business can be profitable if you choose the right revenue model.

    How much does it cost to develop a job portal?

    Developing a job portal can cost you around $5000 to $40,000.

    How does a job portal work?

    Job portals connect job seekers to recruiters for free. They usually earn money by selling databases of job seekers to companies.

  • Paytm Business Model – How Does Paytm Makes Money

    Paytm is India’s largest platform for mobile payments and commerce. The word is an abbreviation for “pay through mobile “. This digital payment system and fintech company have its base in Noida. It was founded in 2010 by Vijay Shekhar Sharma in Noida with an initial investment of $2 million.

    Beginning as a prepaid mobile recharge platform it later expanded to be a single destination for all kinds of bill payments and much more by 2013. Today the platform operates in more than 11 Indian languages and is accepted across almost every grocery store, restaurant, pharmacy and whatnot. In 2020 the revenue of the company was increased by 10% to reach Rs.3629 crore.

    This article will explore the business model of Paytm to understand how Paytm earns money.

    Business Model of Paytm
    Main Products and Services of Paytm
    Revenue Segments of Paytm

    Business Model of Paytm

    The business model of Paytm is worth looking at due to its multipronged approach to ensure a seamless experience for both the company as well as the customers. Let’s look at the various components of the business model canvas of Paytm to further understand its details for generating revenue and constantly being at the forefront of innovation and providing the best possible online services to its clients.

    Key partners of Paytm

    With the kind of services that Paytm offers, it had partnered with a huge number of insurance companies, hotels, shopping centres, pharmacies, hospitals and every other institution where transactions through Paytm is accepted now.

    This collaboration with a plethora of organisations to gather bills and payments for various services enabled Paytm to expand its partnership over time. It has also partnered with banks to provide escrow services.

    Key Activities of Paytm

    The major activity carried out by Paytm is to facilitate the transfer of funds from one place to another. They also ensured that the best possible security is provided for the millions of transactions that are taking place through their platform.

    Another important activity of Paytm includes preventing scams and other cyber frauds in its platform. Apart from that they also strive to make Paytm a single stop for all kinds of payments that an Indian household should take care of.

    Value Propositions of Paytm

    The prepositions that augment value for Paytm begins with recharging business. Initially providing prepaid recharging services it later expanded to postpaid services as well. It further expanded to creating a Paytm wallet which served as a parallel bank account for the clients.

    From there Paytm has devolved into curating the idea of digital gold where customers can store gold digitally and later use them to complete transactions or even exchange it for actual gold of the same value.

    Paytm has also set up various e-commerce verticals wherein it serves as an important component in the completion of transactions.

    Key Resources of Paytm

    There is absolutely no doubt that a company cannot survive without having an inexhaustible resource domain. As far as Paytm is concerned its biggest resource is its partners. As the company started to grow it received support and funds from many resourceful entities like the Alibaba group and Soft Bank vision fund.

    One cannot overlook the amount of support that these resources give to their company. Another key resource that drives Paytm is its RBI license that lets Paytm legally operate the system of Paytm wallets.

    It has revolutionised the idea of digital currency, especially during the time of demonetisation. Its first-mover advantage in the technology platform is yet another key resource of the organisation.

    Cost Structure of Paytm

    Being a service-driven technological platform, most of the expenses that Paytm has to bear is related to its own platform and customer acquisition. Apart from that a large part of its budget also goes into improving the security of the platform and preventive measures to avoid any kind of fraudulent activities. It also invests in systems to avoid the risk of money laundering.

    Customer Relationship of Paytm

    Handling over 65 million customers is not an easy job. To cater to the concerns and complaints of its clients Paytm has a customer support service that is functional 24×7. The customer can make use of phone calls or chat services to voice their concerns and get them rectified.

    In many cases, it also has clear-cut directions to navigate the customer to whatever service they need on their own. These are accessible directly from the website or the app in itself.

    Customer Segments of Paytm

    The wide variety of services offered by Paytm is reflected in its multilayered customer segments as well. The most important customer segment of Paytm is the users of its e-wallet. This is mainly because of the fact that the wallet is like a flagship service of the organisation.

    Another segment is that of the users of the app which constitutes the middle class of the country. Paytm is also seeing a growing segment of customers in the older age group as well.

    Channels of Paytm

    Considering the big name that Paytm is in India, there is no doubt that the primary channel of distribution of the company is its website and app in itself. Apart from that Paytm also ties up with the sites of their clients, e-commerce platforms, vendors sites et cetera to promote the platform. Paytm also ensures that they attract customers through advertisements and constant follow-ups.

    Main Products and Services of Paytm

    Paytm makes money through various businesses like Paytm mall, recharge services, ticket booking, bill payment etc. By facilitating a gateway solution to every transaction, Paytm ensures a steady flow of money.

    The launch of Paytm wallet in 2014 was revolutionary as far as the company was concerned. Since then it has evolved as a parallel bank account as far as the users are concerned. They have also released a digital gold service wherein it allows users to buy gold digitally.

    In future, they are also planning to collaborate with various developers so that the customers can convert their digitally purchased gold into finished commodities.

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    Revenue Segments of Paytm

    The major revenue segment of Paytm is through commissions that it derives from customer transactions that take place on its platforms. As mentioned earlier they have collaborated with banks to create escrow accounts facilitated by Paytm wallets. The company generates revenue from these escrow accounts as well. With every transaction, both Paytm and the partner bank receives a predetermined interest that was mutually agreed upon between them.

    Revenue of Paytm
    Revenue of Paytm

    The following are the various businesses through which Paytm earns money

    • MarketPlace (Paytm Mall)
    • Paytm Wallet
    • Recharge Services
    • Bill Payments & Ticket Bookings
    • Digital Gold
    • Coupon Codes/Voucher cards
    • Payment Gateway Solutions
    • Paytm Payments Bank

    FAQs

    How does paytm makes money?

    The major source of revenue for Paytm is commissions, it charges merchants a small fee which is mutually agreed upon. It also takes commissions from the users.

    Who is the founder of Paytm?

    Paytm was founded by Vijay Shekar Sharma in 2010.

    What is the revenue of Paytm?

    The revenue of Paytm is around 3,187.6 crores INR as of 2021.

    What is the valuation of Paytm?

    The valuation of Paytm is $16 billion as of 2021.