According to a report presented by the Department of Electronics, IT, BT, and S&T, Government of Karnataka, 45 out of India’s 112 unicorns are based in Bengaluru, making it a leader in the startup movement. According to the Bengaluru Innovation Report 2024, the city is known as an innovation hub that encourages revolutionary developments in areas such as AI, biotech, and fintech.
The Bengaluru startup ecosystem is strongly supported by top IT businesses, research institutes, and capital allocators. It’s a place where collaboration and competition are encouraged. As a result, both the economy and technology are booming.
Over 14,000 startups registered with the Department for Promotion of Industry and Internal Trade (DPIIT) and over 4,000 active investors in tech startups call Karnataka home. According to Priyank Kharge, who is the minister for the Department of Electronics, IT, BT, Rural Development, and Panchayati Raj in the Karnataka government, the existence of 45 tech unicorns further solidifies the state’s image as a top hub for technology and innovation.
According to him, the state government has launched several programs to help entrepreneurs at different points in their development. Over 980 businesses have been awarded grants of up to INR 50 lakh through the Elevate program, which is an initiative that helps entrepreneurs go from idea to proof of concept. Women business owners and deep tech solutions are two areas that will receive enhanced attention in the coming future.
Initiatives That Are Driving the Growth
To address the wide range of startup funding requirements in the state, two funds have been established: the Beyond Bengaluru Cluster Seed Fund and the Kitven Funds. To support student-run initiatives, the NAIN program has set up around fifty innovation centers in IT institutions outside of Bengaluru. Beyond Bengaluru and the Karnataka Digital Economy Mission are two more important programs that are helping to make the state a center for information technology.
Major software companies like Amazon, Microsoft, Meta, and Google have their research and development centers in Bengaluru, according to Prashanth Prakash, who is a partner at the venture capital firm Accel and the head of the Startup Vision Group for the Government of Karnataka. According to him, businesses like Zerodha, CRED, PhonePe, Flipkart, and Razorpay—all unicorns—have emerged from the city.
Sahil Chopra, AVP, Growth & Marketing, Inflection Point Ventures satated, “A report from 24th July shows that Karnataka’s Department of Information Technology and Biotechnology gave over ₹60 crore to 263 start-ups in 2022 and 2023. The Department of Electronics IT BT, and S&T released the “Bengaluru Innovation Report 2024.” It stated that women ran 24% of these start-ups, and 35% were outside Bengaluru. As stated above, out of the 263 funded start-ups, women entrepreneurs led 47, and 119 came from tier II and III towns in the state. This shows how Karnataka wants to include everyone. These start-ups work on new tech in many up-and-coming fields.”
“This decision of the government to support these startups is praiseworthy and shows a forward-looking approach to growing the economy and advancing technology. The big financial boost proves the government wants to support new ideas and business creation in the state. What stands out is how their focus is on including everyone,” he added further.
Recognizing the Hard Work and Effort
The Government of Karnataka’s Department of Electronics, IT, BT, and S&T also hosted a special ceremony to celebrate the winners of Elevate, their flagship Grant-in-Aid program. During the fiscal years 2023 and 2024, the initiative’s four schemes—Elevate Kalyana Karnataka, Amrita Startups, and Elevate Unnati—supported entrepreneurship and innovation in the Kalyana Karnataka region, OBC entrepreneurs, and startups promoted by SC and ST entrepreneurs, respectively. In addition, the Elevate program helps entrepreneurs in the state who are looking for seed money to create a prototype, plan their entrance into the market, and eventually scale up.
Most companies focus on IPO (Initial Public Offering) only after they have attained unicorn status. But, is it actually the criteria for it? After all, this is one of the best measures to generate funds for your company.
In this blog, we will discuss the various aspects of IPO and how you can determine whether your company is ready for IPO status.
Initial Public Offering or IPO is the process through which a private corporation offers its shares to the public for the first time, in new stock issuance. It is also a measure for the company to raise capital from public investors.
It is one of the ways for private investors to fully realize their investments. Sometimes it also works as an exit strategy for the earlier investors or founders by fully realizing their gains. It provides the opportunity for the company to obtain capital through their primary market by offering its shares.
Usually, the companies hire investment banks to help with the market demand and set the price for IPO.
How IPO works?
Total Value of IPOs in Public Markets of India from 2015 to 2021
A company before IPO is considered a private firm. It only comprises of a few shareholders including the founders, cofounders, or professional investors like angel investors or venture capitalists.
IPO does not just allow the company to gather capital but, it also provides an opportunity to expand and grow faster. As stated earlier, typically the companies that have acquired unicorn status i.e., have reached the valuation of 1 billion, advertise their interest in going public.
However, private companies that have proven their calibre for profitability and have well-built fundamentals can also qualify for an IPO. A company should reach the maturity stage where it is able to stand up to the rules and regulations of the Securities and Exchange Commission (SEC).
Also, it should be able to take care of the benefits of the shareholders and its responsibility towards them. Overall the market competition and the company’s ability to deal with the list of requirements make it eligible for starting the IPO process.
When a company decides to go public, its previously private shares are converted into public shares. The worth of the shares already existing with the previous private shareholders becomes equal to the public trading price.
Now, every individual who is interested in investing in the company has the opportunity to contribute towards the company’s shareholders’ equity. Therefore, the new value of the company’s shareholders’ equity depends upon the number and price of shares it sells.
The IPO process is divided into two parts, the premarketing phase and the actual initial public offering. A company first advertises to underwriters, these are the individuals responsible for evaluating and assuming the company’s risk for payment.
These underwriters are requested for private bids after which the company chooses one or more of them to lead their IPO process. There can be several underwriters responsible for managing different parts of the process viz. filing, marketing, document preparation, etc.
The various steps included in the IPO process are as follows:
Proposals
After the company’s advertisement, underwriters submit their proposals describing their services, offering prices, share amount, as well as the time duration for the market offering.
Underwriter selection
The Company goes through the proposals and then chooses the underwriter and an underwriting agreement with terms is prepared.
Team formation
A team comprising of underwriters, lawyers, SEC experts, and Certified Public Accountants (CPA) is formed to lead the process.
Documentation
The primary document for IPO filing is the S-1 Registration Statement which is divided into two parts viz. the prospectus and the privately held filing information. This document also includes information regarding the expected filing date. It undergoes multiple revisions throughout the pre-IPO process.
Marketing & Updates
New stock of issuance is pre-marketed by the underwriters and executives to estimate the market demand for deciding the final offering price of the shares. Throughout the marketing process, underwriters revise the financial analysis based on market response. This might also include changing the issuance date or even the price of the IPO. The SEC as well as exchange listing requirements are well taken care of by the companies.
Board & Processes
A Board of Directors is formed to look after the financial and accounting information as per the audit requirements for quarterly reporting.
Issuance of Shares
The Company issues the shares on the pre-decided date. The primary shareholder issuance is received as cash and is recorded in the balance sheet as stakeholder’s equity.
Post-IPO
There are certain post-IPO provisions. The underwriters also have the opportunity to buy additional shares within a specified time duration.
The key objective of an IPO is to raise additional capital for a company. It also benefits the company through increased prestige and exposure amongst the public which may boost sales and profits. Moreover, IPO can help a company lower the cost of capital for both equity and debt.
Every year several companies start their journey as an IPO. India saw an IPO boom in 2021 with around 125 companies making their debut in the market.
Although the highest number of IPOs were registered in 2017 reaching a mark of 172, the capital raised was highest in 2021. These 125 companies raised around 18 billion USD in comparison to 10 billion USD by 170 companies in 2017.
Other than earning handsome returns, the companies listed in the IPO have also experienced strong gains in listings as well as an increased number of subscribers. Zomato and Tatva Chintan Pharma are an example of this.
But, what does it take for a company to be IPO-ready? In this section, we will discuss the factors that differentiate an IPO company from others.
The process to become IPO-ready is long and tedious. It isn’t so that a company thinks of it and makes an announcement the next day. A number of things have to be managed.
The process of getting IPO ready begins at least 12˗18 months before the actual announcement. Some of the major factors looked after during this time frame include:
Influential Board of Directors
When you are thinking of bringing your company to the public for funding, having a board comprised of members well recognized for their potential and decisions is always a good idea.
This plays a significant role in establishing your firm as a reputed and confident organization. This is why most companies focusing on getting IPO-ready look for admired experts from different sectors.
There are a number of examples in the market to prove this fact. For example, ixigo is an AI-based travel portal. Just sometime before the company filed for IPO they hired former IRCTC Chairman, Mahendra Pratap Mall as one of the board members.
Similarly, former HDFC MD, Aditya Puri joined API holdings, PharmEasy’s parent company, before their announcement of being an IPO contender.
Restructuring the Business
Internalrestructuring mightbe required by some businessesto put theirbest arm to work. However, just like the board, these decisions must also be taken well in advance before the IPO process begins.
For example, in Nuvoco Vistas, the cement arm of Nirma group, internal restructuring was undertaken before IPO. As a part of it, the Rajasthan cement unit was brought under the hold of the firm. The company had a 5000 crore IPO.
Physical or Digital
The experts claim that the coming time would make it mandatory for Indian businesses to work in both physical and digital ways. Taking this into caution, many deals are being made, where a digital business acquired a physical one and vice versa.
These deals are majorly done for scaling up, by filling in the gaps in the portfolio and strengthening different verticals of the company.
For example, Pharmeasy, an online pharmacy startup acquired a 66.1% stake in diagnostics chain thyrocare technologies, for Rs 4,546 crore, to diversify its business.
Experts believe that more such omnichannel transactions will follow in the coming time and such deals will soon become a part of pre-IPO requirements.
Executive Support
Another important but often ignored aspect of IPO is finance function. While most businesses focus on a board full of influential directors there is the least attention paid to the finance division.
The fact is that during the entire IPO process the company face a number of stumbling blocks. That is why they need a team who can back them up during their stresses.
Considering an experienced Chief Finance Officer (CFO) for the company is a great step to include in the IPO process. After going public, the CFO has to face challenges such as greater reporting, governance, regulatory, and audit standards.
Although not seen everywhere but the food delivery company Zomato, opted for a new CFO well before its IPO process. They promoted their Corporate Development Head, Akshant Goyal, to the position of CFO.
Businesses should also look for experienced individuals for the posts such as executives, company secretaries, etc.
Financial Transparency
Irrespective of business size or model, financial transparency forms an essential aspect of the IPO process. This is also a part of the equity strategy of the IPO-bound company.
Generally, financial statements for the past 3 years before the IPO announcement are considered optimum. Yet, experts believe that preparing financial statements and subjecting them to review by the board must begin well in advance.
In many cases, the lack of quality financial statements becomes the reason for missing the IPO timelines while other such reasons maybe not be SEBI ready.
For a startup or any business going public means more responsibility, financial discipline, planning as well as its execution.
There is a tough road ahead so before you finally decide to have IPO, the following checklist must be marked:
Growth
Investors will only be interested in spending their money on a healthy and thriving business. With growth, here we mean revenues. Growing revenue is an indicator that the company has more new customers, or old customers buying more products and that the customer churn rate is low.
Experts believe that revenue growth of 30% for the last two years will ensure that the company will be able to stand against its competitors in the market.
Capital
Although gathering resilient capital is the main reason for any business to opt for IPO but going public at a time when the business really needs capital can be the worst decision.
There should be enough cash in your balance sheet not just to attract investors but also to make you appear trustworthy. Just like you, investors are also here for the money. They want to see that soon their investment will be able to provide them with good returns.
Market Size
Large market size is an indicator of opportunity and potential. This means the company is able to expand without much hassle.
Although calculating the exact market size can be tricky, it is traditionally done by gauging the revenues of the legacy players. Also, factors like high growth, scaling up, etc., are indicators of good market size.
Competitors
Direct or indirect, having a track of competitors is important. The investors would only want to spend their money on a winning bet. The overall IPO opportunity as well as the total addressable market depends upon the competitors.
A more crowded market tends to receive a lower valuation. Unless there is a clear differentiation between the company under question and other competitors in the market, it is difficult to bag the deal.
A systematic, dominant company with an already large market is preferred by public investors.
This refers to the analysis per product revenue and cost. This helps in isolating the core cost of the business and helps gauge how the business would perform at maturity. It also analyses the long-term margins.
Leadership
Good leadership inspires the trust of investors. The CEO and CFO are the faces of the company. The reputed and recognized faces help attract public attention as well as investment.
So before thinking about IPO, think about the board of directors, executives, and finance in charge of your company.
Legal Compliance
The company should be a law-abiding entity and must have all the required licenses and other necessary formalities completed as per law. Not having any legal issues pending strengthens the trust of the investors.
Therefore, it is also essential to get rid of any vetting issues. Any vetting issues must be managed with utmost concern before the company is listed for IPO
It is always good to have a legal team to guide you through the process. They may also be helpful in the preparation of documentation submitted during the time of IPO processing, ensuring that they are as per the rules and regulations of the Security and Exchange Commission. Moreover, the company should be apt with the tax payment and other legal responsibilities.
Conclusion
We have shared with you an extensive checklist while trying to cover major aspects of the IPO process and the necessary details that must be taken care of before deciding to go for it. Still, the IPO process is complex and always requires expert advice.
It is essential to go through every detail carefully while making the final decision. The legal, as well as financial issues, must be handled as a priority without ignoring the other related functions.
FAQs
What are the benefits of buying an IPO?
There are several benefits of buying shares in an IPO such as:
High growth potential
High chance of big returns in the long term
More price-related transparency
Shareholder ownership authority
Small investments may provide great profit
How can I buy shares in an IPO?
Buying shares in an IPO is a complicated task. This is the common procedure for buying shares in an IPO:
Choose the right IPO
You must have a Demat account/trading account and PAN card with a broker that offers IPO access
Arrangement of Funds
Bidding of Shares
Get an allotment of shares
How can I find the best IPO?
To find the best IPO you need to do the following things:
Mr. Amit Ratanpal is an alumnus of Harvard Business School with over 20 years of experience across private equity, capital markets, asset management, and investment banking with large organizations like Birla Sun Life and ICICI Group. He has also set up various domestic and global funds, through which he invested and managed ~INR 300 Cr with multiple successful exits. Leveraging his experience and strengths, he co-founded BLinC with his partner RK Rangan, to support entrepreneurs and invest in EdTech and FinTech sectors in India.
Here is an excerpt of the interview withMr. Amit Ratanpal, Founder & MD, BLinC Invest on Indian Startup Ecosystem.
How was the year 2021 for you as an investor/VC?
It was definitely a high-momentum period as private investments touched new peaks and multiple unicorns emerged throughout the year from all sectors. 2021 was a milestone year for BLinC – we had successful exits, launched our INR 100 Cr BLinC Fund II, and also made our first investment from the Fund in an InsurTech company named Vital.
How often do you bet on the entrepreneurs and not on the ideas? And when/if you do that, what quality of the entrepreneur usually makes you do that?
As an investor, I always strive to find the perfect balance between the quality of the promoter and the scalability of the business idea. We at BLinC work very closely with the promoters of our portfolio company, and hence, alignment with the promoters plays a key role in our investment decisions. It is always great to work with experienced and honest entrepreneurs who are good at business execution, organization development, and fundraising.
What is a warning sign for you when investing in a startup?
I prefer investing in startups whose key management team is execution-focused and takes a hands-on approach to the business. Another red flag is when promoters do not have a clear understanding of what problem they are trying to solve for their customers and how significant it is.
What are some common biases you find in the Indian Startup ecosystem?
One of the most common biases in the Indian startup ecosystem is “growth over profitability”. Businesses today adopt a high-burn-high-growth strategy without focusing on profitability. However, high growth does not necessarily lead to profitable unit economics. On the other hand, there is a general bias towards funding entrepreneurs coming from top-tier educational institutions.
What are your views on the SharkTankIndia Episodes until now?
I believe the show will surely motivate all the aspiring entrepreneurs, which will further amplify the existing entrepreneurship wave in the country.
We are seeing many startups exiting with IPO, what’s your opinion on that? How is it going to change the ecosystem?
Exits, especially through IPOs, are a great sign of success for both entrepreneurs and investors. IPO exits also generate a good amount of liquidity for the investors, who can further invest in other startups in the ecosystem, thereby, improving the liquidity in the market. I believe this phenomenon is only going more prominent over the coming years. On the other hand, the increasing number of IPOs also serves to indicate the maturity of the investors in the market, especially with regards to the acceptance of new-age business models that are yet to turn profitable.
More than 42 unicorns in 2021. What do you think caused this wave? Is the valuation justified according to you?
It is the changing consumer mindset that has enabled these Unicorns to grow. Today’s consumer prefers convenience, is very open to try new products, and is less risk-averse than the consumer of the previous decade. Most of the unicorns have tapped into this changing consumer mindset to identify and solve unique problems for their customers. For example, Licious has completely changed the way consumers order meat. I believe the valuations are steep, and there is a bubble. However, like everything, good businesses always come at a higher price.
How can we support/enable entrepreneurs in tier2 and tier 3 cities?
Entrepreneurs in Tier 2 and Tier 3 cities suffer from lack of access to quality resources. One of the most effective ways to fill this gap is to set up incubation centers in these regions in partnership with colleges, to provide access to top quality mentorship and industry experts.
What do you look forward to as an investor in the year 2022?
Budget 2022 has focused significantly on leveraging technology to penetrate deeper into the Tier-2 and lower cities in India. I expect technology-led businesses to gain significant market traction and attention from the investor community, giving rise to new unicorns in 2022. At BLinC, we are looking forward to deploying our Fund across various whitespaces identified through our internal research.
What are a few sectors you think would be hot in the upcoming year?
Education and Financial Services sectors have been very resilient through the pandemic. Companies in these sectors have a large potential to leverage technology to drive deeper penetration, and I expect these sectors to continue growing at an accelerated rate in the upcoming year.
One learning that you would like to share with founders who are looking to raise funds?
It is all about execution, prioritization, and defining the short-term and the long-term focus. Early-stage startups should have a detailed understanding of their target market, competitive landscape, and the target customers. It is critical to think from the customer’s perspective and solve at least one real pain point of the customers. It is important to consistently prioritize and make efforts to achieve the product development milestones and the targets of the business plan. While pitching to the investors, it is important to give comfort to the investors around your market understanding and your execution capabilities.
Funding is the money that new enterprises require to operate and achieve their objectives. Funding can come from a variety of sources, but investors are the most common. When investors put money into a company, they want it to succeed and make a lot of profit so that they can get their money back.
There are different types of investors out there like angel investors, personal investors, peer to peer lenders, venture capitalists and so on. There are major corporations that invest in startups and subsequently profit from their profits. It is a win-win situation for both parties.
Accel is one such company that invests in new businesses. It is well-known for its investments in IT firms, software, and internet enterprises. In this article, we’ll talk about Accel-backed startups.
In 2004, Facebook was just a social networking site Mark Zuckerberg launched in his dorm room at Harvard. In its initial days it was just a website for college students to connect to each other and later got spread to other colleges and universities as well. It received funding from Accel in 2005 and it got what it needed and went public in 2012. It became great news as Facebook is now worth US$159.32 billion (2020) and Accel gained a lot of profit from their investment and set an example for the others. Accel and Jim Breyer which is an American Venture Capital company and a partner of Accel owns 11.4% i.e. US$11.4 Billion.
Launched in 2011, Supercell has since released a lot of successful games like Clash of Clans, Boom Beach, Hay Day. These games have millions of active users and daily logins. When Supercell was a small, pre-launch game studio switching from Facebook games to focused on upcoming mobile platforms in 2011, Accel led its Series A investment. Softbank bought a majority stake in the company in 2013, which was then sold to Tencent in 2016.
Rovio
Rovio is a Finnish games-first entertainment company that designs, distributes, and licenses mobile games as well as works as a brand licensor in a variety of entertainment and consumer product categories. The Angry Birds brand, which began as a successful mobile game in 2009, is the company’s most well-known product. In October of 2017, Rovio went public on the Helsinki Stock Exchange. Accel funded with Series A in 2011 and then in 2017.
Etsy
Etsy is a website where entrepreneurial craftsmen, artists, and collectors may sell vintage, handcrafted, or custom-made jewellery, apparel, home décor, art, toys, and other items. Etsy is funded by 19 investors and one of them is Accel. The initial investment was done in January 2008, with follow-on investments in 2010, 2012 and an IPO in 2015.
Flipkart
Flipkart was created in 2007 by Sachin Bansal and Binny Bansal with the goal of introducing contemporary retail to India’s growing middle class. Initially focused on online bookstores, the company has expanded to include a wide range of products as well as its own nationwide logistics centres and delivery fleets, assuring a high-quality, end-to-end shopping experience for all customers. When Sachin and Binny were operating the company out of their apartment in 2009, Accel led the first-ever investment in Flipkart. Accel was a part of every succeeding fundraising round, and Flipkart was acquired (majority interest) by Walmart in 2018 after transforming India’s domestic consumer retail business in less than ten years.
Swiggy
Based in Bangalore, Swiggy is India’s most popular food delivery service. In addition to essentials, the company has created a general product delivery system, with a poppy orange, proprietary delivery fleet that sets it apart from other food delivery platforms. Accel first funded a Series A, B, C in 2015 and then a Series D in 2016 and Series E in 2017.
Urban Company
Urban Company, which was founded in 2014, has grown to become India’s largest at-home services marketplace. Users can connect with skilled and experienced service experts through the all-in-one platform. Accel first funded in 2015 and then in 2017.
BlackBuck
Founded in 2015, BlackBuck has become India’s largest trucking network by redefining the logistics of matching shippers with trucks in an organized and transparent way. The freight and services platforms deliver reliability, efficiency, and a seamless experience – whether it be matching a shipper with a truck, facilitating digital payments, or helping truckers manage their fleet effectively. The unique vertically integrated model is rapidly digitizing the entire online ecosystem of trucking in India. Accel gave it two investments in 2015, one in 2017, and one in 2019.
Freshworks
Since 2010, the company, then known as Freshdesk, has been at the forefront of democratising CRM software. Freshworks was renamed in 2017 to better reflect the company’s integrated array of SaaS products. The unique customer engagement software has become the trusted CRM for organisations of all sizes because it provides a ready-to-use, easy-to-setup and use solution. Accel was the first investor in the company, making the first investment in 2011, and has been a part of every subsequent financing round.
Money View
Money View offers no-collateral personal loans in a matter of hours. Money View’s loan application procedure is totally digital, from application to disbursement. The app allows you to maintain track of your loan’s progress, comprehend verification information, and receive notifications about forthcoming EMI payments. Accel invested in Money View in 2014.
Conclusion
Money is one of the most critical aspects of a new business. Without finances, a firm cannot start and acquire all of the other resources required to run and profit. Accel gives innovative enterprises with the capital they require to realise their objectives and turn a profit. It’s a terrific way for both sides to make money since as the business expands, so does the income.
FAQs
Who is the founder of Accel?
In 1983, Jim Swartz and Arthur Patterson co-founded Accel.
Who is the CEO of Accel?
Tara Abraham is the CEO of Accel.
How do you approach an Accel partner?
You should approach Accel with a brief overview of your project if you want them to invest in it. If your project is judged to be a good fit for Accel’s portfolio, you will be called for a more in-depth discussion.
What are the accel partners funded companies?
Accel partners has funded in many companies. Some of the companies tha are funded by Accel partners are:
Whenever we see a football rolling around, there’s one personality we think of, Cristiano Ronaldo. He’s the captain of the Portugal football team and a deadly weapon of the Manchester United club at present. With a status of 674 goals on the ground, Ronaldo carries incomparable stardom.
Besides this, scoring goals is not the only source of his revenue. Apart from being paid a whopping 11.9 crores for each promotional post on Instagram and $64 million per year for serving as Juventus’s winger, he has established various ventures outside the stadiums.
Being an excellent athlete, Ronaldo has a very cunning business mind. From sweeping the streets to driving buggies, he has come a long way. All this is because of his hard work and multiple business ventures. No doubt he is the holder of such a massive amount of net worth. Funding, advertisements, sponsorships, all after the times he marvelously landed the ball at the back of the net, have earned him his stance in the hall of fame.
Now there’s a side of his life, about which very few know of. Yes, as mentioned earlier, his throne is outside the field, in the market. But does this Portugal player has the ability to play his moves in the business competition? No doubt, he has. So let’s have a look at the wonders that Ronaldo’s business mind has performed.
So, let’s have a look at the startups funded by Cristiano Ronaldo.
On the top of the list, we have a Portugal-based startup that involves the marketing of mobiles. The company came into being in 2011. The CEO Josh Simoes and Diogo Teles presented the idea of gifting a reward of something to the people every time they came into action with the brands. Or, in simple words, people would be getting tips for shopping online.
To serve the purpose, the app was to be launched in the initial months of 2013. But before that, Cristiano Ronaldo took to his Facebook handle to share this news. Immediately after which the beta version of this app came into being.
Although the amount he funded was behind the curtains, he expressed his joy while sharing this news. His post revealed his happiness towards this encouraging initiative as the mobile world is a fast arena of happenings. He also expressed his full support saying that a fast-approaching change is possible with mobile.
Herbalife Nutrition
Mark Hughes, the founder of this company, made it a reality in 1980. Herbalife Nutrition operates based on providing people with proper health and nutrition supplements. For such a company, to shake hands with a personality like Cristiano would be no less than a gold medal.
Thus, in 2013 the company shook hands with Ronaldo. It resulted in the launch of a sports drink inspired by Ronaldo. It was tagged as Herbalife 24 CR7 drive. With such an aggressive name, and Ronaldo’s name attached to it, the company was happy. Following this, Ronaldo had been funding the company. Later in 2018, the deal was renewed for an extension of 3 years.
Ronaldo funded one of the most prominent digital agencies all over Portugal. This Luis Parafita leads link. The Portuguese captain had envisioned a new tech brand along with a tech vehicle titled “7EGEND.” In the initial stages, Thing Pink was understood as a team of advanced engineers, producers, and technical minds who ruled the digital arena.
Now that Ronaldo has a superior hold of them, all are focused on turning Ronaldo’s vision into a reality of creating a tech-inspired world that would go hand in hand with the sports world too.
Cristiano Ronaldo had shaken hands with this company in 2014. Overall entitled as a watchmaker company, designing and manufacturing the fashion accessories is also a part of their routine. TAG Heuer was established in 1860 with its headquarters in Switzerland. Ronaldo being the first international ambassador for this company, had signed a long-term deal.
Insparya
Apart from partnerships, Ronaldo now has a venture of his own. The Sparta hair transplant clinic. With the significant highlights on hair problems, he expressed his concern in tackling them.
People should be accessible while putting forward their problems rated to hair and likewise should be treated well. With this note, he initiated the project. He has 50% of this project to his name. Insparya branches into ten centers in the whole of Portugal.
Clear
In 2014 itself, the five-time ballon o dr champion funded a hair care product. Clear shampoo is a part of Unilever. With Cristiano’s face in every advertisement and promotion, the shampoo has its value all around the globe. The company came into being in 1975 with the tag of clinic shampoo. When later, it was again given the title of Clear.
CR7 Fitness
CR7 Fitness is another sector of Ronaldo’s venture, which includes all the gyms he owns around Portugal. Being one of the fittest athletes, he never underestimates fitness. Thus, the gyms which he owns reflect his affection towards being healthy. Apart from these, he also funds branches of CR7, which include CR7 denim, perfumes, footwear, and the list goes on. The CR7 brand was launched in 2013. Afterward, in 2015, Ronaldo came up into the market with his brand-produced footwear.
Pestana CR7 Lifestyle Hotels
It’s a portugal tourism group which has its series of hotels. It is owning a total of 91 hotels all around the globe. In 1972 it took birth behind which were the names Josh Pestana and Manuel Pestana. Their chain of hotels extends from Europe to South America also to Africa.
In 2017 Cristiano came in to fund their chains of hotels. He supported the chains with a net worth of €60 million, which made Cristiano the owner of these hotels. Later the name was tossed as Pestana CR7 lifestyle hotel. With this name tag, the first pillars of hotels were placed in Madrid and New York.
Besides the sports world, which involves heavy workouts and a perfect physique, Ronaldo has proved the worth of a sound mind. Although other athletes follow the same path, when Ronaldo’s fame and reach are put together to his business mind, it is a tough plate to level up.
With multiple backups at hand, this world-class Portuguese player has performed wonders on the ground that earn him $64 million a year. With the foundation he has laid, his generations would also enjoy the fruits of this.
His brands and his fundings, at a global level, serve him with extra fame and reach to already what he has gained from scoring goals. And now, with his budgets, along with himself, the company’s are benefitted to an unimaginable extent. Along with that, Ronaldo contributes to advertisements as well. Thus, Cristiano Ronaldo defines what a complete played is.
FAQs
What products has Cristiano Ronaldo endorsed?
Cristiano Ronaldo Endorsements list:
Coca-Cola
Herbalife Nutrition
Clear
Insparya
7EGEND
LiveScore
Free Fire
Pestana CR7 Lifestyle Hotels
Nike
Dazn
Altice
Tag Heuer
CR7 Fitness
What is the net worth of Cristiano Ronaldo?
Cristiano Ronaldo has net worth of $120 million. He has been ranked as the world’s third highest-paid athletes by Forbes in 2021.
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