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Tag: 📄Company Profiles

  • Reliance Jio – The Success Story of the 1st Network to Provide 4G VoLTE Services in India!

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Jio.

    When do you think a revolution came in the telecommunication industry? Well, the most common answer is after the launch of Mukesh Ambani’s Jio. This company made an incredible entry into the Indian mobile telecom sector with the most exclusive cost leadership strategy that revolutionized the whole market of telecommunication. But how do you think did that happen?

    Was it the investments in the company or the business model or Mukesh Ambani’s strategic plans?

    To know more about How Jio Started, information about Jio company, the Success Story of Reliance Jio, and how Jio changed India, you go through this StartupTalky article.

    Reliance Jio – Company Highlights

    Company Name Jio (Joint Implementation Opportunities)
    Headquarter Mumbai, India
    Sector Telecommunications
    Founder Mukesh Ambani
    Founded 15th February 2007
    Revenue Rs 18,952 crore (FY21,Q1)
    Profit Rs 3,651 crore (FY21, Q1)
    Average Revenue per user (ARPU) INR 138.4 (FY21, Q1)
    Reliance Jio Slogan ‘Digital Life’
    Reliance Jio Tagline ‘Jio jee bharke’ (Live life to the fullest)
    Parent Organization Reliance Industries
    Website jio.com

    About Jio
    Founders of Jio and team
    Jio – Startup Story | How was Jio Started?
    Jio – Name, Tagline, and Logo
    Jio – Business Model and How it Works?
    Jio – Growth
    Jio – Competitors
    Jio – Future Plans

    Reliance Jio
    Who Dominates Mobile Subscriptions?

    About Jio

    When Anil Ambani and Mukesh Ambani had a split in the year 2005, it was one of the biggest de-merger in the industry. The dream project of Mukesh Ambani that was Reliance Infocom, became a part of the Anil Ambani Group. Furthermore, Mukesh Ambani went on to acquire the company Infotel Broadband Services Limited, which was the only successful bidder across India for the 4G network.

    This is when Mukesh Ambani’s Reliance Limited started working on establishing a base for a high-speed optical fiber 4G network which is much more capable than 4G. The company was named Reliance Jio Infocom Ltd popularly known as Jio today. Jio was the first network to provide 4G LTE services and VoLTE services.

    Jio launched these services on 5th September 2016 for all the users and also launched its smartphone series with the name LYF. Reliance Jio Infocom Ltd (RJIL) focused on high-speed data instead of voice and SMS. On its launch, the company announced data plans with 1GB 4G data per day in the market where mostly all popular telecom providers offered 1GB data per month.

    This was a game-changer by RJIL in the price-sensitive market of India as the prices before that revolved around Rs 250-300 for 1 GB 4G data, which went down to Rs 5 per GB during the initial days. Along with these amazing plans, Jio also started offering free voice calling and free 100 SMS per day for all its Prime members.

    JioPhone Next

    The all-new ‘JioPhone Next’, is being jointly developed by Mukesh Ambani-led Reliance and tech giant, Google was scheduled for a Ganesh Chaturthi release, on September 10, 2021. However, Reliance Telecommunication’s revolutionary product hit a roadblock due to an acute global shortage of semiconductors and had been postponed till Diwali at least, as per the reports dated September 10, 2021. The company then remarked that it had already started testing the device among a limited set of users to identify further scopes of refinement and make them easily available foolproof in November, during the festive season of Diwali. With this, Reliance Jio had also bought some more time to figure out efficient ways to mitigate the global shortage of semiconductors. This Reliance JioPhone Next was finally launched on November 4, 2021. These phones now comes at Rs 6,499, and is powered with the Android-powered Pragati OS, and a Qualcomm Snapdragon QM215 processor. The JioPhone Next can also be bought by paying Rs 1,999 only by the users who lack the options of paying for the phone upfront. However, they also need to pay the company for the full price of the phone later on by monthly installments.

    The JioPhone Next can be summed up as a good option if you are looking for an entry-level budget phone, and if you don’t have Rs 6000-7000 or more to buy new phones. However, these phones also have numerous drawbacks like:

    • JioPhone Next is sluggish being deficient of adequate RAM
    • You need to only use a Jio sim as the primary SIM to use it
    • The phone can also be turned of by the financer if it is not properly paid for
    • It comes in with an Android OS, but has its own JIO customisations

    The Success Story Of Bharti Airtel: A Case Study
    Bharti Airtel is a public limited company commonly known as Airtel. It is anIndian telecom company which is currently operating its business across southAsia, Africa and Channel Islands, it is also into the GSM providing business inall the countries including 2G and 3G services. Due to its operat…
    StartupTalkyPV Vyshnavi

    Founders of Jio and team

    Mukesh Dhirubhai Ambani is one of the richest men in the world. He is the Founder of Jio.

    Mukesh Ambani - Founder of Jio
    Mukesh Ambani – Founder of Jio

    Mukesh is reportedly the richest man in India and his family is popularly known as the richest family in Asia, according to Forbes. Mukesh Dhirubhai Ambani was the Chief Managing Director (CMD) of Reliance Industries Ltd, which is one of the biggest conglomerates in India.

    Mukesh was born in Aden but he grew up in Mumbai. Being one of the most influential and powerful personalities of the country he has provided his business acumens to the whole world. Mukesh Ambani is the owner of the world’s largest refinery. He has achieved tons of notable accomplishments and is a part of many renowned institutes as well. Ambani was the Director and Chairman of Reliance JIO Infocomm Ltd. too before he stepped down with effect from June 27, 2022, and his son, Akash Ambani, who was a Non-Executive Director, has been appointed as the Chairman of the company, as per reports dated June 29, 2022. The Jio board has also revealed the appointments of Raminder Singh Gujral and K.V. Chowdary as additional directors of the company, who will serve as independent directors for the next 5 years, commencing from June 27, 2022. Furthermore, Pankaj Mohan Pawar has been appointed as the Managing Director of the Jio business also for 5 years.

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    Top 50 Richest Indians in 2020: Comprehensive List
    India is home to some insanely wealthy families and individuals known across theglobe. India has the third largest group of rich people[/demerits-disadvantage-rich/] after the US and China — 121 people out of the2068 individuals that Forbes took into account for its annual ranking wereIndians. W…
    StartupTalkyAshwini

    –

    Jio – Startup Story | How was Jio Started?

    Some time back, Mukesh Ambani the founder of Jio was asked about how he thought of coming up with such an amazing idea to which he said that this idea was seeded by his daughter Isha Ambani. In 2011, Isha Ambani was a student at Yale in the US and was home for the holidays.

    She told her dad how bad the internet connectivity was at their house because she couldn’t submit her coursework. At that time, Mukesh Ambani realized that how India is suffering from bad and poor connectivity of the internet.

    The data was severely scarce and overpriced, which was unaffordable to a majority of Indians. Since then, Mukesh Ambani started working on Jio to make the data services abundant and affordable in every part of the country, which gave birth to Reliance Telecommunication’s Jio business line.

    JioMart VS BigBasket: Top Contenders Of Online Grocery Market
    In the year 2019, Reliance Industries launched their own online groceriesordering website called JioMart, this was meant to be an alternative for theother grocery websites like BigBasket which is a well-established company in themarket for the last few years. BigBasket has the experience and expe…
    StartupTalkyPV Vyshnavi

    JIO stands for Joint Implementation Opportunities and the full name of the company is Reliance Jio Infocom Ltd.

    Reliance Jio Logo

    The logo of Reliance Jio has a hidden meaning. When we flip the logo and look at its mirror image it is read as ‘oil’ which represents the past and future of Reliance. The company Reliance appeared as a business giant in the 20th century because of its Oil business and in the 21st century probably the flipped version, Jio has successfully ushered in another revolution.

    The slogan of Reliance Jio is ‘Digital Life’ while a popular tagline of Jio has been ‘Jio jee bharke’ which means live life to the fullest.

    Jio – Business Model and How it Works?

    Reliance Jio had really smart strategies and most of them belonged to the founder Mukesh Ambani. For its initial year, Jio gave unlimited data services and high-quality Volte calling services at surprisingly low charges. The complete change in the market made other telecom operators change their business models.

    These offers created a lot of radical and unexpected changes in the consumer’s behavior as well. Also, it led to many mergers and acquisitions in Indian mobile network providers. Jio, in turn, made people use more and more services so that they spend more.

    Jio eventually started charging 6 paise per minute on its calling services. The company has now launched numerous value packs consisting of both internet and calling benefits along with other on-demand subscriptions at competitive rates, which are even lower for Jio phone users.

    Well, in the initial phase Reliance took a big risk to enter into the telecom industry but it has proved to be one of the best companies in the current market.

    Mukesh Ambani’s JioMart Is Set To Dominate E-Commerce In India
    When it comes to the Indian business arena, one simply cannot ignore Mr. MukeshAmbani—the owner of Reliance Industries, and the wealthiest businessman ofIndia. He has footprints in some of the most important sectors of the Indianeconomy such as refining, oil & gas, petrochemicals, telecom, retail…
    StartupTalkyLakshya Singh

    Jio – Growth

    Jio has already proven to be a rising force being a revolutionary company and the torchbearer of the Indian 4G VoLTE services. The Mukesh Ambani-led company is currently the leading telecommunication service provider in India. The Jio company is now working to empower the Indian users with the 5G and 6G services as well. Jio is the 3rd largest mobile network operator in the world with over 179.93 million users.

    Jio has added 1.6 mn+ wireless subscribers to its network in April 2022. In the broadband segment, Jio leads the path, which currently boasts of 52.15% of the total Indian userbase, followed by Bharti Airtel, which now enjoys 31.61% of the market share. Reliance Industries’ shares reportedly closed 1.5% higher at Rs 2,529 on the BSE on June 28, 2022.  

    Jio launched the fiber to the home service in 2019, which now offers home broadband, telephone, and television services. When the coronavirus made things scary for businesses and professionals, Mukesh Ambani made his company Reliance Jio net debt-free 9 months before the deadline. The conglomerate has raised Rs 53,124.0 crore by offering shares to its existing shareholders and another Rs 118,318.45 crore by selling stakes in the Jio platform through 12 deals.

    Reliance Jio has become the country’s largest-ever right issue and series of stake sales deals in its arm Jio Platforms, delivering on a promise given to its shareholders in last year’s August.

    “I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021,” Mukesh Ambani said in a statement released early on Friday.

    Reliance Industries is in its ‘Golden Decade’ and Mr. Mukesh Ambani has assured his shareholders that in this decade RIL will set even more ambitious growth goals and achieve them. Back in 2017, Mr. Ambani said that the energy-to-telecom conglomerate was on the verge of a golden decade where it would yield the returns of its largest-ever capacity expansion in its petrochemical business and its investment in Jio. With these investments, the company’s net debt was Rs 161,035 crore, as of March 31, 2020, and the funds raised in the last 8 weeks exceeded it. Along with the stake sale to BP in the petro-retail joint venture, the total fundraising is in excess of Rs 1.75 lakh crore.

    In twelve weeks thirteen different companies have invested in Jio platform, from leading Global investors which included Facebook, Silver Lake(Twice), Vista Equity Partner, General Atlantic, KKR. & Co.Inc.,  Mubadala Investment Company, Abu Dhabi Investment Authority, TPG Capital, L Catterton, Saudi Arabia PIF, and Qualcomm.

    Companies Investing In Jio In A Nutshell

    Name of the Company Stakes Total Investments
    Facebook 9.99% INR 43,574 cr
    Vista Equity Partner 2.32% INR 11, 367 cr
    Silver Lake Partner 1.15% INR 5,655.75 cr
    General Atlantic 1.34% INR 6,598.38 cr
    KKR & Co. Inc. 2.32% INR 11,367 cr
    Mubadala Investment Company 1.85% INR 9,093.60 cr
    Silver Lake Partner 0.93% INR 4,546.80 cr
    Abu Dhabi Investment Authority 1.16% INR 5,683.5 cr
    TPG Capital 0.93% INR 4.546.80 cr
    L Catterton 0.39% INR 1,894.50 cr
    Saudi Arabia’s Wealth Fund PIF 2.32% INR 11,367 cr
    Qualcomm 0.15% INR 730 cr

    Jio Platforms has diluted 25.24% of its equity. That’s the maximum they have in view to dilute to financial investors, which includes Mark Zukerberg’s Facebook. Any new investors coming on board in the future will have to be “strategic investors, a tech giant, for instance,” said a source who was part of the deal-making process. The RIL-FB partnership could emerge as the core platform for India’s digital economy and as more consumers and small businesses shift online, it could unlock a digital market worth $2 trillion.

    The secret behind Jio’s success is that it is customer-centric and has a webscale mentality. Reliance Jio made it look easy when it successfully swooped into the jam-packed and super competitive mobile market with free 4G voice and data service. So, in a nutshell, Reliance Jio, aims at harnessing the full potential of the internet to create a digital revolution through their technologies. Innovative services and long-term planning will radically bring the world at one’s fingertips much faster and also transform the way Indians think, work, live, and are entertained.

    Reliance Jio announced plans for integrated fibre connectivity and digital solutions to transform over 50 Million small and medium businesses in India on March 9, 2021. A statement released by Reliance Jio said – “Under this plan, Indian MSMEs will get Jio connectivity at one-tenth (1/10th) of the existing price in the market. They will also be able to collaborate with Jio partners to get easy-to-use solutions”  

    Reliance Jio also announced to launch of its new product JioBook, as per the reports dated March 8, 2021. After years of speculation, it is believed that the product is in the Engineering Validation test stage. JioBook is a laptop, that is said to be affordable and would attract a lot of customers. As per the speculations, the price of the laptop would start from INR 10,000 onwards.

    Reliance Jio emerged as the top bidder in India’s $11 billion airwaves auction, said the reports on March 2, 2021. Reliance Jio bought airwaves worth Rs 571.23 billion ($7.8 billion) of the total Rs 778.2 billion raised in the latest spectrum auction. Jio’s competitors – Bharti Airtel Ltd., spent $2.6 billion and Vodafone Plc’s India unit bought spectrum worth Rs 19.9 billion.

    Some of the popular Jio Apps that the customers can now find are:

    • Jio Pages – A Jio launched web browser for Android mobiles
    • Jio Chat – JioChat is an instant messaging and video calling app for Jio users.
    • Jio Cinema – An online HD video library by Jio, designed to provide the users with movies, tv shows, and music videos online
    • Jio Cloud – A safe and secure cloud storage service from Jio
    • Jio Health – A health services app from Jio
    • JioNews – A news app or e-reader for news by Jio
    • JioMeet – A video-conferencing platform from Jio
    • JioMoney – A mobile wallet for the Jio customers
    • JioSaavn – Provides online and offline music streaming in English and Indian languages
    • JioSecurity – A mobile security and antivirus app
    • JioTV – A streaming service brought by Jio
    • JioCall (Jio4GVoice) – A videocalling feature for the fixed-line number customers
    • MyJio – A Jio account using which the Jio users can manage their Jio account and digital services

    Jio also has a list of other products and services. Here are some important ones to know about:

    • Mobile broadband service
    • JioFiber
    • JioBusiness
    • JioNet Wi-fi
    • JioPhone Next

    Real Reasons Why Jio is launching their laptop – Jiobook
    Jio is the largest telecom operator in India and is the third-largest operatorin the world. During the year 2020, the company had raised an amount of INR1,52,056 crores by selling their stake of around 32.97%. This helped the companyin coming up with new products and making the services affordabl…
    StartupTalkyAlan Joseph

    Jio – Competitors

    There are many telecommunication brands that have thrived for long years in the telecommunication space of India. Popular brands like Airtel, Idea, Vodafone, etc. had achieved the customer’s trust for years and are still among the Reliance Jio competitors. However, with the disruptive entry of Jio, they had to hurry things up and make significant changes in their business models, strategies, and workings to match up with Jio’s radical approach.

    Small network operators like Aircel, Tata Teleservices, and Telenor had to shut down their functions in India because of the revolution brought by Jio into the market. The profits of other Telecom operators have also drastically decreased since Jio’s inception. Idea also had to merge with Vodafone eventually to make the company Vodafone Idea or Vi.

    List of Top Startups Funded by the Reliance Accelerator Program
    No big company or enterprise ever started from scratch; and to realize aninnovative and actionable idea, one needs funds and resources. From Microsoft to Facebook to Pixar, most of them started off with a great idea, lots of effort,and a small garage. Almost everyday, entrepreneurs come up with o…
    StartupTalkyAnsh Mehrey

    Jio – Future Plans

    Mukesh Ambani, recently in an interview, stated that Reliance Jio is now focusing on growing the teledensity in the rural and remote areas. The company is continuing to grow in demand for telecom services and provides digital services with greater services.

    Reliance Jio planned to build a data center in UP with approximately $950 million as an investment on February 23, 2021. This center will be powered by its own renewable energy plant.

    The company may also expand from being a digital telecom service provider to a digital services player which also offers services related to agriculture, healthcare, and education. Jio also aims to be an influencer and initiator in bringing and developing 5G services in India. The future Reliance Jio projects also include the launching of the 5G and 6G services, and the launch of the JioPhone Next, which was done in November 2021.

    FAQs

    What is Reliance Jio Tagline/Slogan?

    The slogan of Reliance Jio is ‘Digital Life’ while a popular tagline of Jio has been ‘Jio jee bharke’, which means live life to the fullest.

    Who is Reliance Jio Founder?

    Mukesh Dhirubhai Ambani is the founder of Reliance Jio.

    How much is Reliance Jio Revenue?

    In the second quarter of FY2021, it reported a revenue of INR 17,481 Cr with a profit of INR 2,844 Cr. In Q1, the company reported INR 16,557 Cr in revenue. Reliance Jio’s average revenue per user (ARPU) has gone up to INR 140, during Q1 of FY2021.

    Who are Reliance Jio’s top competitors?

    Airtel, and Vi are the prominent competitors of Reliance Jio.

    How much is Mukesh Ambani’s net worth?

    Mukesh Ambani’s net worth is $90.7 bn, as of April 2022.

    Does Reliance Jio have any subsidiaries?

    Yes. Reliance Jio’s subsidiaries are LYF and Reliance Jio Infocomm Pte. Ltd.

    How much is Reliance Jio’s customer base?

    As of April 2022, Reliance Jio recorded 179.93 million users.

  • StayAbode – How the Housr-Owned Startup is Growing its Co-living Spaces in Bangalore?

    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 StayAbode.

    Many young people, every year, move out of their home towns in pursuit of better education or in search of better employment opportunities. A common problem these youth have to face in the new cities is that of finding decent accommodation. Looking for a well-maintained place within budget, arranging furniture, finding good companions,  arranging for domestic help, wi-fi and TV connections, all of these sounds really stressful for students and young professionals moving to new cities.

    But now, a different concept is fast becoming popular among the youths in India, which solves all these worries and makes shifting to a new city easier. Co-living is the term of this new concept that brings in a new way of living for people who are staying away from their hometowns. StayAbode a Bangalore-based startup founded in 2016, has become quite a popular name in the field of co-living spaces.

    NestAway’s co-living subsidiary, The Hello World had initially acquired StayAbode, with a capacity of 2000 beds, in an undisclosed value deal in 2020. The Hello World then had 20,000 beds and planned to add 30,000 more beds by the end of 2022. StayAbode has again been acquired by Housr, as confirmed by the news dated June 27, 2022. StayAbode now stays acquired by Housr, which is a managed accommodation platform in India.

    Check this StartupTalky article to know more about StayAbode, its Founders and Team, Business and Revenue model, Growth, StayAbode Startup Story, the StayAbode acquisition and more.

    StayAbode – Company Highlights

    Startup Name StayAbode
    Headquarter Bangalore
    Founders Viral Chhajer, Varun Bhalla & Devashish Dalmiya
    Sector Real Estate, Co-living
    Founded 2016
    Parent Organization Housr

    StayAbode – About
    StayAbode – Industry
    StayAbode – Name and logo
    StayAbode – Founders & Team
    StayAbode – Mission
    StayAbode – How It All Started?
    StayAbode – Business & Revenue Model
    StayAbode – Funding & Investors
    StayAbode – Growth
    StayAbode – User Acquisition
    StayAbode – Startup Challenges
    StayAbode – Competitors
    StayAbode – Future Plans

    StayAbode – About

    StayAbode provides professionally managed co-living spaces for rent. StayAbode takes care of all the accommodation-related worries that one faces on moving to a new city. From furnishing to security from housekeeping to maintenance, StayAbode manages it all.

    StayAbode uses design, technology, service, and brand to build co-living spaces for the rental residential market at scale. StayAbode’s co-living spaces support the lifestyle of the young, single sociable household, enabling a high level of comfort, convenience, and a sense of community with shared spaces such as kitchens, common areas, game areas, and places to dine and work. StayAbode’s co-living spaces are building the future of residential real estate for urban millennials.

    What is StayAbode?

    StayAbode solves all the living issues that young professionals face when they move to a new city. From difficult landlords to high deposits and unfair rentals, StayAbode is the solution for all.

    Currently operating in Bangalore, StayAbode offers beautiful, fully furnished living spaces. These spaces are designed in a way that the residents have their own private spaces plus there are shared spaces for working, dining, kitchen spaces, etc. Thus, the residents continue to have their private space along with a community of like-minded people, which do not let them feel lonely and left out in the new city.

    StayAbode CoLiving
    StayAbode CoLiving

    The facilities that StayAbode provides to its dwellers include-

    • Fully furnished living spaces
    • Housekeeping services
    • On-site laundry
    • All-inclusive rent
    • A nominal deposit that is easy on the pocket.
    • Living spaces are fully secured
    • Expert team for repairing/ maintenance work
    • Resident-only app, through which one can avail of various services and get updates.

    We believe we are well set to solve for millennial living in today’s sharing economy where the consumer gives access, a greater significance than ownership.

    A community of like-minded and inspiring individuals, a designated community manager who takes care of every need of the residents, and a policy of indiscrimination that lets everyone irrespective of gender, marital status, etc be a part of its co-living community which is an important USP of  StayAbode.

    StayAbode – Industry

    As per the recent IBEF reports, there are more than 75 co-living companies in India, which itself, indicates the demand for co-living spaces in the country. The co-living market of India is expected to grow to 5.7 mn from 4.19 mn. The size of the coliving sector, which stood at over $6.5 bn, when last recorded in April 2022, is expected to grow 2X to reach $13.92 bn by the same time.

    The idea was to build a brand that solves for living across the journey of a consumer from the first time they become independent in life all the way into their retirement years.

    “We were looking for a name that could encompass this entire journey and we felt that ‘Abode’ captured that. To reinforce the ‘living’ emotion, we liked the way StayAbode worked and it was something that was effortless and rolled off smoothly”.

    StayAbode Logo
    StayAbode Logo

    StayAbode – Founders & Team

    Viral Chhajer, Varun Bhalla and Devashish Dalmiya are the founders of StayAbode.

    Viral Chhajer, Varun Bhalla and Devashish Dalmiya
    StayAbode Founders

    Viral Chhajer

    Viral Chhajer is the CEO of StayAbode. He is a graduate in Business Administration and worked with companies like Goldman Sachs and Runnr, before StayAbode. He also co-founded Bribe Me, an app that is India’s first flash sale marketplace that allows users to avail of exclusive offers in real-time. Viral exited Bribe Me in 2015.

    Varun Bhalla

    Varun Bhalla is a computer science graduate and was also a part of the Bribe Me venture with Viral. Prior to StayAbode Varun worked as a mobile app developer in companies like foofys and Treebo Hotels.

    Devasish Dalmiya

    Devasish Dalmiya holds a bachelor’s degree in business administration. Devashish and Viral are an alumnus of Christ University Bangalore. Devashish had been a part of companies like International Money Matters Pvt Ltd, Right Horizons Investment Advisory and Wealth Management Pvt Ltd, and Roadhouse Hostels, before starting up with StayAbode. Dalmiya left StayAbode in October 2020 and is currently working at BASIC Home Loan as a Director of Business Development.

    StayAbode Ventures has registered its employee count between 51-200, as per its Linkedin profile.

    StayAbode – Mission

    The StayAbode mission statement says that the startup is looking to “make life convenient and enriching for our residents.”

    StayAbode – How It All Started?

    “It all started off with independent living,” says Devashish. Devashish noticed that though people somehow manage to find a living space in cities, they are left with many unsolved problems. They do not find like-minded people to live with, plus just finding a home is not enough, there are lots to take care of like food, furnishing, etc. While Devashish was backpacking across Europe, he saw that there were managed communities where students lived together, and wanted to introduce the same concept to India also.

    He pondered on the issues young people moving to a new city were facing. “It pretty much boils down to two – uncertainty and loneliness. It’s not just enough that they have to navigate a new and unknown real estate market, they also have to figure out how to mesh in with the city and its people so that they don’t keep feeling like outsiders”.

    There are 3 types of people who come to the city on any given day: tourists, travellers, and settlers. While the tourist and traveller have their own defined solutions, the settler is the group that needs the ecosystem, both great living space and a like-minded community. That’s the category that StayAbode aims its services at. StayAbode was started with the intention to create a brand that allows the settlers to maximize their productivity with a supportive community and a hassle-free living experience.

    “StayAbode is the answer to all your big city living woes,” said he.

    The concept is fairly new in India. But data shows young professionals and students would prefer to stay in places where they can be part of a community while having their own little piece of private space. StayAbode enables this by using technology and design thinking to create private spaces and common areas that lead to collisions that bring the community together.

    Living with like-minded people and engendering a community of people ready to share and create together, can be the perfect recipe for the millennial living experience. When you live and learn together, you grow together. Imagine being able to meet new people, be supremely productive, come home to a great living space and be able to truly find yourself in a new city. Life suddenly seems so simple.

    StayAbode – Business & Revenue Model

    The StayAbode business model follows a full-stack model, not a part-inventory one. It leases out complete buildings – from the basement to the terrace, and turns them into co-living spaces. After that, StayAbode’s team puts together the furniture and common-room setups, ensuring the space has everything that a tenant needs, including add-ons like community kitchens, study areas, reading spaces, and even barbeque grills in some properties.  

    As far as the StayAbode revenue model is considered, they charge a fixed rent that covers living and utility expenses and has a defined margin with every landowner, which differs from property to property. The company’s objective is to create a win-win situation for itself and the property owners by ensuring high occupancy.

    Rent Roomi – Choose Your Room and Roommate | Roomate Coliving
    The urban population is growing exponentially. Indian urban population[https://www.investindia.gov.in/team-india-blogs/india-preparing-biggest-human-migration-planet] is expected to reach 600 million by 2030. As per the United Nations WorldCities Report 2016, around 9.6 million people will move …
    StartupTalkyChayanika Goswami

    StayAbode – Funding & Investors

    The StayAbode funding to date is as follows:

    Funding Date Funding Stage Funding Amount Investors
    March 2019 Pre Series A Undisclosed Voyage Group, Akatsuki and Incubate Fund
    July 2018 Pre Series A Undisclosed Anupam Mittal, Vineet Sekhsaria, Lets Venture Legacy Global Projects MD Sanjay Shenoy and Mridul Upreti (ex Joint MD JLL India) and Akatsuki.
    August 2017 Seed Undisclosed Incubate Fund
    February 2017 Angel Undisclosed Angie Mahtaney & Ishan Manaktala

    StayAbode – Growth

    StayAbode has grown to become one of the leading names when it comes to co-living spaces in Bangalore since it was founded in 2016. This Bangalore-based coliving service provider has been acquired by Housr, one of India’s leading co-living players on June 27, 2022.

    With this deal, Housr will add more than 20+ properties launched in Bengaluru, and over 1200 beds to its inventory in the major hubs of Bangalore like HSR Layout, Koramangala, Marathalli, Indiranagar, and Electronic City. The StayAbode acquisition of Housr will mark its powerful foray into Bengaluru and will strengthen its presence in South India. The parent of StayAbode further has planned to have 12000+ beds by March 2023, This will be made possible by combining Housr Co-Living and Housr Homes.  

    On its acquisition, team StayAbode said, “The concept of co-living is still germinating in India. Handing over the baton to one of India’s leading co-living players puts us on a better collective footing to popularise managed accommodation amongst a skeptical Indian audience.”

    StayAbode – User Acquisition

    Referrals, SEM, and social media marketing worked best for StayAbode. StayAbode is one of the first players in co-living spaces and people were quite curious about and eager to try this new concept. Besides, StayAbode was also building up curiosity regarding co-living spaces through Facebook posts.

    The company launched its first few properties in popular locations across Bangalore where the target group for co-living spaces was present.

    “Cliched as it may sound, a great experience and community engagement in our business is the ultimate hack. We have seen the highest percentage of extensions where we have ensured a consistent experience across both the living and community experience. This has guaranteed us a fairly high rate of referrals across these properties too and we have always used these properties and the teams running them as a benchmark within the organization to ensure a consistent experience” says Devashish.

    StayAbode – Startup Challenges

    A major challenge, in the beginning, was solving the sales pitch for the property owners. There were property owners who hesitated about letting their properties be transformed by StayAbode in the process of designing co-living areas.   In such cases, the StayAbode team focused on explaining and showing the property owners how a well-designed property was allowing for better return and performance.

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    StayAbode – Competitors

    Some competitors of StayAbode are CoLive, CoHo and OyoLiving.

    An increasing number of players are now entering the co-living space but everyone tends to operate on different models with different focus areas. StayAbode strives to stand out from the competition by providing an excellent resident experience to its dwellers. Besides, it is also constantly improving operational efficiency to give the property owners better value.

    StayAbode—Future Plans

    StayAbode is currently operating with around 20 properties in Bangalore. As a Housr subsidiary, the company is dreaming the Housr dream of having over 12K beds, and scaling up to 100+ properties across the country by the end of March 2023.  

    Moving to a new city can be daunting and inconvenient. Over the last few years, it has become more challenging to find a convenient and fulfilling home on rent at an affordable cost. So, we decided to address this very issue by serving StayAbode as a solution – beautiful, fully-furnished private homes with shared spaces, that add value to our residents’ lives at less cost. All said and done, we’re here to make a difference – in living and in lives.

    Conclusion

    StayAbode is more than just brick and mortar. They go beyond giving their residents four walls. The company knows that shifting to a new city can be a nightmare. This is why the ready-to-move-in homes of StayAbode, come with all-inclusive amenities. Besides, the thoughtfully designed shared spaces of StayAbode make it super convenient to move in and have an enriching stay. Also, StayAbode has been designed to foster human interactions. With a community of inspiring people from different walks of life, it is the perfect place to share experiences, network, learn and stay inspired.

    In the StayAbode community, the possibilities of events and gatherings are infinite. From movie nights, match nights, mini gigs, cook-offs, and potluck parties to festival celebrations, you can indulge in a myriad of events and celebrations. At StayAbode, they curate the profiles to maintain the quality of their community. They verify the personal and professional profiles of every applicant and follow up with a thorough background check. Moreover, all the shared spaces are equipped with CCTV cameras to ensure safety and security. In the conclusion, with StayAbode joining Housr, dreams are big, and ever-expanding both for the startup and its parent.

    FAQs

    What is StayAbode?

    StayAbode is a provider of coliving spaces in Bangalore, which has a cluster of co-living spaces for rent, thoughtfully designed to create a positive impact on the way people live. Convenience and community are at the core of what StayAbode does, making city-living affordable and meaningful for its residents.

    What is co-living?

    Co-living is a modern way of living better together. It is an amalgamation of convenient, affordable city-living and inspiring community living. StayAbode has been designed to foster human interactions. With shared spaces, events and gatherings hosted every so often, the residents of the startup can indulge in a rich and engaging network of people, perspectives, and experiences.

    How can I visit StayAbode properties?

    You can set up a visit through the StayAbode website or give the team a call on 08061914619 to schedule a visit.

    Why was StayAbode started?

    Moving to a new city can be daunting and inconvenient. Over the last few years, it has become more challenging to find a convenient and fulfilling home on rent at an affordable cost. So, StayAbode decided to address this very issue with its beautiful, fully-furnished private homes with shared spaces, that add value to its residents’ lives at less costs.

    What does a regular day for a StayAbode resident look like?

    The StayAbode residents can wake up at their convenience, and have their homes cleaned spick and span by its housekeeping crew. They can then spend their day working or relaxing at home or at the StayAbode shared spaces designed to inspire and collaborate with the community. On a day when a social event has been planned, they can also indulge in some networking and meaningful conversations with other community members. Moreover, they can also head to their private rooms when slumber takes over. That’s the beauty of co-living at Abode. It’s a wonderful blend of personal and social life, under one roof.

    What does the housekeeping staff of StayAbode take care of?

    The well-trained housekeeping crew of StayAbode leaves the homes squeaky clean, 6 days a week. This includes dusting, mopping, cleaning the utensils, making the bed, and cleaning the washroom on alternate days.

    What does the people that rent at StayAbode properties get?

    The one-for-all rent of the people renting at StayAbode properties, is inclusive of the monthly rent, housekeeping services, WiFi, utility bills, and access to shared spaces and community events.

    Are the StayAbode apartments furnished?

    StayAbode homes are beautifully designed and fully furnished to match the lifestyle of everyone. They’re ready-to-move-in homes to make lives more convenient. So, you can just move in with your suitcase. StayAbode will have the rest covered.

    Is StayAbode acquired?

    Yes, StayAbode has been acquired by Housr, a hospitality company from Gurgaon that is founded by Deepak Anand and Kalpesh Mehta, on June 27, 2022.  

  • The Rimuut Success Story of Transforming Freelancers into Companies

    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 Rimuut.

    Entrepreneurship, freelancing, and the gig economy has seen a boost in recent years. More and more people are now opting to start their own business or just work as freelancers. However, while starting, many of them face many operational challenges. Challenges like work security, payment, and invoicing are nightmares for freelancers. In fact, creative freelancers can’t even focus on their creativity because of these hassles.

    To help all the freelancers, Rimuut provides a platform, which can handle all of these aspects of the business. This ultimately helps to make it easier to operate from anywhere easily. Read about Rimuut’s success story, challenges, and more further in this article.

    Startup Name Rimuut
    Founded 2017
    Founders Mert Bulut & Esen Bulut
    Headquarters Tallinn, Harjumaa, Estonia
    Industry SaaS
    Area Served Worldwide

    About Rimuut
    Rimuut – Starting up
    Rimuut – Industry Details
    Rimuut – Founders and Team
    Rimuut – Logo
    Rimuut – Growth
    Rimuut – Recognition & Achievements
    Rimuut – Marketing
    Rimuut – Challenges
    Rimuut – Competitors

    About Rimuut

    Rimuut is a fintech company from Estonia that offers a platform for the freelancers, who can, with the Rimuut platform, create virtual companies for invoicing and getting paid. The Rimuut platform is designed to enable the freelancers to send tax-deductible invoices to the clients from across the globe, and collect payments.

    Rimuut helps it make easy for freelancers to invoice business clients in almost 150 countries like a company. Besides, the Rimuut platform also helps them get paid in less than 24 hours in any currency. Creating service contracts and other legal documents is also easier now with Rimuut.

    Rimuut Website
    Rimuut Website

    Product & Services

    Right now, Rimuut provides virtual company solution for freelancers. It transforms them into legitimate businesses within seconds by equipping them with commercial and managerial tools to handle billing, settlement, and payment. Rimuut enables freelancers to easily invoice their corporate clients and get the payment. Moreover, it protects their work by contracts without the financial and mental burden of starting and running their own companies.

    Rimuut – Starting up

    Rimuut’s journey has begun based on the personal experiences of the founders. One of the two founders, Mert, managed outsourced mobile projects abroad and faced constant invoicing and payment issues as he was unincorporated. Being an innate entrepreneur himself, Mert knew that freelancers worldwide are looking for a solution for their financial problems, which causes huge barriers.

    By joining forces with Esen, with a finance background, they came up with a unique idea. The idea was to transform freelancers into virtual companies. This would help them function as companies without carrying the burden of actually starting and running a company.

    Rimuut – Launch

    The primary strategy of Rimuut is putting the needs of freelancers and the businesses hiring freelancers at the core of the service. Due to the user-focused business strategy of Rimuut, the company enables people to empower their businesses. From invoicing to customer support, Rimuut focuses on the excellence of the user journey and experience.

    Rimuut – Industry Details

    Freelancing is growing globally. Many individuals are leaving their jobs to work on a freelance basis. On the other hand, companies are also taking it sportingly. They are hiring more freelancers rather than hiring full-time employees for short-term work.

    When the founders of Rimuut extensively researched the freelance economy, they saw many problems dealing with billing, settlement, and freelancers’ payment procedures, especially when working with local and global businesses. They focused on solving these problems.

    Rimuut – Founders and Team

    Rimuut has been founded by Esent and Mert Bulut.

    Esen and Mert Bulut – Rimuut Founders (R to L)

    Esen Bulut

    Esen Bulut is the Cofounder at Rimuut. She is an alumnus of Boston College Carroll School of Management. Before founding Rimuut, Esen served as a Partner at Codfabrik. She was earlier in the Marketing department at Esenteks Teskstil, and an Assistant Financial Specialist at Dogus Holding, prior to that.

    Mert Bulut

    Mert Bulut is another Co-founder at Rimuut. Mert has completed an MS in Computing from Goldmiths, University of London, after finishing BS (Management Engineering) from Istanbul Technical University. Mert was the Founding Partner at Codefabrik after being a Team Member at Etohum.

    The team size of Rimuut, as per its Linkedin profile is somewhere between 11-50 employees.

    Rimuut Logo

    Rimuut – Growth

    Rimuut has seen a good growth since it started back in 2017. The company takes pride in enabling over 4000 employees function remotely and helping them work hybridly with more than 40,000 solo talents, where Rimuut helps them with its wide range of features and facilities including universal invoicing, contracting and payment.

    Rimuut – Recognition & Achievements

    Rimuut embarked on its journey in January 2017 by admitting to ITU Cekirdek Incubation Center (2nd best in Europe and the 3rd best in the world by the international UBI Global index). Additionally, Rimuut was selected among the top 8 startups at Startup Turkey in the EMEA region.

    Rimuut – Marketing

    After perfecting their product, they used digital marketing tools to grow their user base. WOMM or the word of mouth marketing got a lot of eyeballs for Rimuut. Happy users brought other users and created a snowball effect. Moreover, they used referral marketing campaigns to kickstart their platform.

    Rimuut – Challenges

    Rimuut is a disruptive platform. Like every other disruptive business, Rimuut also have experienced problems with the regulations. Excessive and inadequate regulations were the most challenging for the company. However, it learned to adapt and perfect the tools as per the rules to empower the freelancers.

    Rimuut – Competitors

    Some of the Rimuut competitors are:

    • Freelancer Stack
    • Freelance Rate Explorer
    • YayPay
    • VersaPay

    FAQs

    What is Rimuut?

    Rimuut is a fintech company that provides effective solutions for the freelancers and other individuals who can, with the help of the Rimuut platform, create virtual companies for invoicing and getting paid.

    Who are the founders of Rimuut?

    The Rimuut founders are Esen and Mert Bulut.

    Where are the headquarters of Rimuut?

    The Rimuut headquarters are located in Tallinn, Harjumaa, Estonia.

    When was Rimuut founded?

    Rimuut was founded in 2017.

  • Jop – An All in One Solution to Boost Employee Performance

    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 JOP.

    Building an enterprise and maintaining the startup team to adhere to the business goal efficiently and effectively is one of the biggest challenges in the entrepreneurship journey. Entrepreneurs should always focus to create an environment where teams can perform to the best of their abilities and produce the highest quality work. It is an ongoing process of improving individual and team coordination. JOP provides a solution to boosting employee performance at the company. It offers automated solutions to goal setting and performance reviews.

    Read the success story of JOP, its founders, business model, and more about it.

    JOP – Company Highlights

    Startup Name JOP
    Headquarters New Delhi
    Industry SaaS
    Founder Gaurav Sabharwal, Rakesh Sarin, Vibhu Satpaul, and Grant Crow
    Founded 2020
    Website getjop.com

    JOP – About
    JOP – Core Belief
    JOP – Founders and Team
    JOP – The Idea and Startup Story
    JOP – Name, Tagline, and Logo
    JOP – The Products
    JOP – Business Model and Revenue Model
    JOP – Customer Acquisition
    JOP – Challenges Faced
    JOP – Marketing Strategy
    JOP – Advisors
    JOP – Competitors
    JOP – Tools Used in the Company
    JOP – Achievements
    JOP – Future Plans

    JOP – About

    JOP is a SaaS startup founded in 2020. The products they provide at JOP are goals, engagement, feedback, performance management, agile collaboration, and insights. As for, the services that are offered by JOP are consulting and partnerships.

    JOP – Core Belief

    JOP enables a joyful culture and the realization of full performance potential. JOP, a synergy driven by the common desire to support organizations aspiring to thrive, brings an amalgamation of strong characteristics and values. The combinations of hues used in the brand best elucidate this magical mix of joy, ambition, and optimism – the ulterior values they wish to imbibe through the means of their solution.

    At JOP, they aspire to enable agile collaboration among teams to facilitate strategy execution and performance enablement. Their primary focus is laid on all the core elements required to support agility, team collaboration, performance, and engagement.

    There’s one passion that unites the JOP team – helping organizations that are willing to break the old rules in search of superior performance. They love supporting leaders that experiment with new agile structures and methods as they seek to dominate in today’s disruptive and demanding business environment. Business Performance Enablement should be about facilitating agile collaboration among teams to drive strategic achievement. Together they decided to create a world-class software solution to support aspirational organizations.

    JOP – Founders and Team

    JOP Co-Founders
    JOP Co-Founders

    Gaurav Sabharwal, Rakesh Sarin, Vibhu Satpaul, and Grant Crow are the co-founders of JOP.

    Gaurav Sabharwal is the CEO of JOP. He is responsible for handling day-to-day activities related to operations, marketing, and fundraising.

    Rakesh Sarin is the Chairman of the board. He is the Chief strategy officer who works on strategic planning.

    Vibhu Satpaul is the Chief product officer. He is responsible for the entire product in terms of development, analytics, etc.

    Grant Crow is the non-executive director and serves as an OKR expert and strategic planner.

    JOP – The Idea and Startup Story

    There are many areas from which they got the inspiration for JOP. Founders have been in the industries for a number of years now, supporting and providing digital services for companies in the US, successfully. They realized that strategically they will be able to put a lot more value if they will develop their own products. So it was their decision to create their own products and take them to the market.

    JOP Logo
    JOP Logo

    The name of the Startup is based on the core values and culture followed at the startup.

    Joyful and Energizing: There is joy in dreaming big, respecting the diversity of multi-cultural teams, and performing for meaningful growth. They maximize their energy by experimenting, collaborating, and aligning to boost stakeholders’ value. The Yellow in the JOP logo is a symbolic representation of the aforementioned values that they wish to advocate through the means of their personality and product.

    Customer Success: They make a meaningful contribution for their customers to succeed. The inclusion of Blue in JOP branding is an accurate delineation of the confidence, trust, and wisdom that they wish to foster with their customers.

    Aspirational: They aspire to be the best with a winning attitude, an innovative approach, and taking ownership. The Green in the identity signifies the ambition of growth and success – both for them and their partners/users.

    JOP – Products

    The products ensure alignment, clear ownership, and accountability and allow you to achieve outcomes. The product offers continuous feedback which improves employee engagement and helps retain the best talents in your organization. Their products will also help you have clear quarterly and annual goals. Furthermore, their products will help you be in alignment with company goals and insights into everyone’s work.

    Their products give solutions to problems such as micro management, work-life balance, attritions, lack of vision, transparency, productivity, sales, customer satisfaction, and financial performance.

    They catalyze growth for businesses (startups) and people by intensifying focus on
    high-impact goals, enabling strategy execution and employee engagement, hence enabling 3x growth with alignment. As for innovations, they have effective check-in, actions to manage, and parent linking KRs.

    JOP – Business Model and Revenue Model

    For Indian customers, the price is Rs 250 per user and for their customers outside India, the price is $10 per user. This does not include the consulting cost as they are separate and go straight to the consultant. An onboarding fee may also be charged and the payments are charged quarterly.

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    JOP – Customer Acquisition

    They got their first 100 customers through various mediums such as the founder network, referrals, LinkedIn outreach, and attending events where their ICP was present. Email marketing campaigns and SEO helped them as well in bagging the first 100 customers. They also had strategic partnerships with OKR consultants that helped them further.

    JOP – Challenges Faced

    Starting and scaling businesses is hard. Even after having an experienced startup team, there’s always a new challenge standing in your way while establishing a business. This is one of the reasons they founded JOP. Many companies fail when they are scaling up as they lack an ideal operating framework that is needed by a business to grow and thrive. This is where JOP comes into the picture. It requires a lot of hits and tries at the initial stages to see what works the best. But yes, following some good playbooks for GTM, Sales, Marketing, Product Engineering, and Funding proved to be quite helpful in increasing the chances of establishing a successful business.

    JOP – Marketing Strategy

    JOP has got most successful marketing through LinkedIn. Linkedin outreach helped the business immensely along with the events as they enabled them to get direct access to their ICP (high-growth SaaS startups)

    JOP – Advisors

    JOP team has 2 advisors.

    • Dr. Srinivas Chunduru – Founder at VANS group
    • Mr. Anup Yanamandra – a SaaS specialist.

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    JOP – Competitors

    Some of the top competitors of JOP are:

    • Lattice
    • Peoplebox
    • Fitbot
    • Mesh.ai.

    JOP – Tools Used in the Company

    A few tools which they use to run the startups are:

    • LinkedIn sales navigator
    • HubSpot
    • Apollo
    • SendGrid

    JOP – Achievements

    They are still on their way to achieving their goal of success. My biggest achievement started with their drive to make JOP successful. Their passion to solve business performance problems makes the team keep going.

    JOP – Future Plans

    They plan to go hefty with integrations such as slack, notion, etc. In addition to this, they plan to develop the intelligence of their product with respect to insights and nudges.

    FAQs

    When was JOP founded?

    JOP was founded in 2020.

    Who are the founders of JOP?

    Gaurav Sabharwal, Rakesh Sarin, Vibhu Satpaul, and Grant Crow are the co-founders of JOP.

    What does JOP stand for?

    JOP is the abbreviation for Joy of Performing.

    What does JOP do?

    JOP provides software solutions for:

    • Performance Management
    • Agile Collaboration
    • Employee Engagement

    Who are the competitors of JOP?

    Some of the top competitors of JOP are:

    • Lattice
    • Peoplebox
    • Fitbot
    • Mesh.ai.

  • Chappers: Traditional Footwear Brand Through Innovative Indian Craftsmanship

    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 Chappers.

    Maharashtra has a rich and varied arts heritage. Kolhapuri chappals are one of the most popular hand-made crafts from locally sourced leathers. It has its origin in the Kolhapur town of Maharashtra. Kolhapuri chappals are made from leather using only natural ingredients. They are the best example of ethnic and traditional fashion footwear that are eco-friendly and handcrafted. Startups are taking initiatives with their innovative approach to preserving the ancient craft traditions of India and supporting Indian craftsmanship. Chappers is one of the brands that is reviving craftsmanship in India. They started with Kolhapuri chappal and now bringing a revolution in footwear fashion, especially for men.

    Read the success story of Chappers, its founder, business model, growth, and the challenges it faced in the journey.

    Chappers – Company Highlights

    Startup Name Chappers
    Headquarters Pune
    Industry Footwear
    Founder Harshwardhan Patwardhan
    Founded 2014
    Website chappers.in

    Chappers – About
    Chappers – Founder and Team
    Chappers – The Idea and Startup Story
    Chappers – Name and Logo
    Chappers – Products
    Chappers – Business Model
    Chappers – Revenue Model
    Chappers – Customer Acquisition
    Chappers – Challenges Faced
    Chappers – Growth
    Chappers – Hiring Culture
    Chappers – Funding
    Chappers – Competitors
    Chappers – Future Plans
    Chappers – Tools Used in the Company
    Chappers – Advice from Founder

    About Chappers Footwear Making

    Chappers – About

    Chappers is a men-focused brand. They make footwear for women too but there are bigger issues to solve when it comes to men’s footwear. Chappers aims to solve the following problems in the Indian footwear industry:

    1. Men are taught not to wear good colours. The industry hence makes only black, brown, and grey for them. Those who want to wear colours do not have options.
    2. Custom footwear is often very expensive and unreliable. they want to change that. They give men brilliant quality custom footwear at the right price.
    3. Mass customization would be the norm in a few years. They want to be the brand that revolutionizes the footwear industry.
    4. Footwear and technology usually never go hand in hand. The Indian footwear industry is very unorganized and needs disruption. They have built India’s first virtual customization software where the customer will be able to customize the footwear on large touch screens first, check if it suits their taste, and then place an order for it. They aim to home deliver a custom pair of footwear within 72 hours.
    5. This industry is heavily reliant on inventory. Retailers have to stock up huge number of styles only to know that only a few of them work. Later they have to offer heavy discounts on styles that don’t work. With our model, our franchises will keep only bestsellers in stock and the rest will be custom-made. Since the lead time will be just 72 hours, the customer won’t mind waiting. Plus, the price of the in-stock designs and the custom product will be the same, adding to the value.

    Chappers – Founder and Team

    Harshwardhan Patwardhan - Chappers Founder
    Harshwardhan Patwardhan – Chappers Founder

    Harshwardhan Patwardhan is the founder of Chapppers. He has completed his MSC in management from the University of Nottingham.

    Currently, they are a team of 25 people including a sales team, operations team, accounts team, and a team of expert craftsmen. Each of them has the vision to make Chappers the best footwear brand India has ever seen.

    Chappers – The Idea and Startup Story

    Chappers initially started with a vision to take the Kolhapuri chappal global. Harshwardhan first came across Kolhapuri chappals on his first traditional day in college. His brother gave him ancient-looking chappals to wear under his kurta and he fell in love with them. Since then, there hasn’t been a day that he has not worn a Kolhapuri. But it had certain negatives. It was hard, slippery, and available only in the traditional brown colour. He started wondering if he could change these things. Would people in Europe/Latin America wear this chappal if he worked on the negatives? He started researching and working with different materials and that’s when Chappers was incepted.

    Chappers Logo
    Chappers Logo

    Before the founder even started finding a name for the brand, people had started placing orders, as they found his work interesting and wanted cool-looking-new-age Kolhapuris. He had booked a stall at a flea market in Phoenix Market City, Pune and they asked by what name should they reserve the stall. That night, he chalked out close to 200 names but only 1 stuck. He took “Chapp” from “Chappals” and since I was making them comfortable and in a way westernizing the chappal, he added “ers” to it like Slipp”ers” or Loaf”ers”. He joined them together and it made a very short and sweet brand name “Chappers”. Since the name was coined by Harshwardhan, I had no issues in trademarking and copyrighting it too!

    He asked one of his friends to develop a logo for the startup, based on the concept of taking Kolhapuris global. So, he actually drew a Kolhapuri and fit the font such that “C” was the heel and “S” was the thumb! And he loved it!

    Chappers – Products

    Chappers have now expanded into many different products. After a point the founder realized that his interest lies not only in taking the Kolhapuri global, but also the Indian craftsmanship. They want to start with revolutionizing the Indian footwear industry completely. They design great products and enable the customers to customize it in their own colors. They let them add accessories, their initials on the shoes and try to do all of this in a very reliable way and at the right price. Now, they don’t restrict themselves in terms of the nationality of the products origin or the century it was first made in. They want to build great, innovative products and want people to wear them in their own favorite colors. Imagine if a brand starts giving custom footwear at the right price and in a lead time as low as 2 days, why does the footwear industry need crores and crores of inventory?

    Chappers – Business Model

    Chappers’ business model is very simple. It is a very complicated model to understand for an outsider. But for the customer, it is very simple.

    The customer walks into the store/Kiosk and checks their shoe size by trying on their sizing samples. He then sees two sections – RTW (ready to wear) and customization. If he wants to pick up a pair right away, they have a selection of 25-30 bestsellers in stock at all their stores. But, if he has 2-3 days at hand, he can take a look at our customization section. There, he will see numerous designs in unimaginable colours and material variety. He can touch and feel the product, select the design he likes and then move on to a big touch screen. On the touch screen, through their virtual customization platform, he will be able to change, colours, and materials, add accessories to the design that he selected, and then see how the product looks on his feet with the help of an iPad. He can then place an order. If not, he can just enter his mobile number and the shoe that he designed will be sent on WhatsApp to him for future reference. If he does place the order, the full customized product will reach his home in the next 2-3 working days.

    Now that he knows his size and fit, he can even customize any design on Chappers’ website and place the order from the comfort of his home.

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    Chappers – Revenue Model

    Their policy is to never undercharge or overcharge the customer. Whenever they develop a product, their aim is to provide the maximum value to the customer. They never are cheap nor expensive, they just aim to sell their products at the “right price”.

    For example, if a customer looks at a product and feels that it’s worth Rs.5000, then that product should be priced at Rs.4999. They pay their craftsmen very well. They want to ensure both sides of the supply chain are equally happy with them. The team of craftsmen and employees should be equally happy, hence they do not believe in discount marketing. They make good quality products and expect the right price for them.

    Chappers – Customer Acquisition

    This bit came easy for them. They made the first 100 samples and booked a flea market stall. They sold 90 out of the 100 pairs on the first day!!

    After the first flea market experience, their confidence soared. They started believing in the product even more. But, where they can go to sell every day? They couldn’t get a stall. So, they built a basic website and social media pages. First, the orders started coming in through friends and family and then through their friends and family and the circle grew. Since Pune is a small community-like city. Word of mouth spread fast. Slowly they started getting online orders too. But people always asked one question – where can they come and try the footwear? So, they opened their first store on Karve road, Pune. Their stores are very uniquely designed. Big wooden chair, embroidered carpets, and footwear handled with gloves. Not every footwear store does that. Hence, they immediately got a good response for the store too.

    Chappers – Hiring Culture

    In Chappers, your degree does not count. Whenever they are interviewing, they keep the CV aside and talk to the candidate. They want all their team members to be problem solvers. Good manners and extremely high morals are definitely needed if you want to be a part of the team. Patriotism is also a must if you are to qualify as a team member. People who love India and want to do something for the country have a different outlook towards life, Chappers team wants to work with such people.

    Chappers – Challenges Faced

    When Harshwardhan Patwardhan decided to explore the opportunity, he had no background in footwear or business in the leather industry or retail industry. He is from a transport background as his family is into people and goods transport. He had to learn from scratch.

    Second, the footwear and leather industry in India is very unorganized. There are still many vendors who are not on Google. Additionally, nobody wants to work with a person who is just starting out, has no industry experience, and has no money. From vendors to employees, the founder had rejection all around.

    Duplication has also been one of the major challenges. As they started becoming successful, small factories started copying their products and selling them cheaper. They had to develop a lot of IP surrounding their logo to safeguard themselves from this duplication mafia.

    The INR 2000 and above market is dominated by foreign brands. Unfortunately, we think that foreign brands deserve higher MRPs and our own Indian brands don’t. People have said things like “Indian brand hai na to 1000 tak price thik hai”. Our people take pride in wearing foreign brands and undervaluing Indian brands. Building a footwear brand that does not have a single product priced under Rs.2000 is definitely a tough path under current circumstances. But they believe in India, they believe in their products and they believe in the future. This keeps them going.

    Chappers – Growth

    Right now, they have four stores in Pune and they deliver across India when ordered online. They have even delivered orders to 27 foreign countries. Chappers’ revenue is around 2.5 crores and they have approximately 27,000 customers to date. Their returning customer rate is 40% which is pretty high for a footwear brand.

    Chappers – Funding

    Fortunately, till now they have always been profitable and self-sufficient. Even during the pandemic, they had to modify a lot of systems and cost structures but they strived and remained profitable. They will start looking for funding this year as they think now their business model is well evolved and they are aware of what has worked for them and what has not. The new model can truly revolutionize the entire footwear industry and they will come out on top. If they stick to the plan and keep capturing their goals, they think they can be the Zomato of footwear.

    Chappers – Competitors

    Their perspective and attitude are a lot different from other local brands. They do not believe in the fact that they can sell whatever they make. They think that the customer is always aware of the latest trends and just needs some help in imagining stuff. Its job as a brand is to help its customers imagine newer things and they do so by giving them a platform to play around on. They can play around and find out what colours they like the most, and which designs suit them the most. Usually, retailers dictate what you should wear. They tell customers why they can’t wear a yellow chappal or a red shoe. They do so because they don’t have a yellow chappal or a red shoe to sell. But they can make a yellow chappal, a red shoe, and a gold sandal!! So, for the initial few years, competitors never took Chappers seriously, only when they realized that people actually want to wear these colours, did they start thinking about developing such products. They want to make competition irrelevant with their new model. Can established footwear brands give each customer a custom pair? The answer is they cannot. Because they have huge factories to feed. They love making 1 lakh black shoes. Chappers don’t.

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    Chappers – Future Plans

    They are currently trying out a kiosk franchise model. They have Kiosks at Pune’s Pavilion mall and at Seasons mall Magarpatta. A kiosk franchise would give a better return on investment to the franchise owner as the expenses are much lower. Plus, since the majority of the orders are custom-made, its inventory requirement automatically comes down. If there’s a Chappers Kiosk in all malls of India, they will get thousands of custom orders every day. Imagine what that will do to brands that say no to customization. They think they are in a world where people buy ready products just because there’s no choice. If they have a choice at the right price, very few people will buy ready products. They want to create an environment in which other brands want to join. This will be true change.

    Chappers – Tools Used in the Company

    Technology is their backbone. They prefer to use easily readily available software around difficult business systems. That somehow makes the job easy. Of course, they have developed their proprietary Virtual Customization software ourselves. That they would always keep with them as it’s one of the key features of their new business model. They are continuously working on it and want to ensure they constantly keep adding new colors, materials, and products for their customers.

    Chappers – Advice from Founder

    Harshwardhan Patwardhan, Founder of Chappers:

    I think starting early is essential. The amount of learning I got from starting Chappers, no university or degree can give me. Instead, I would encourage the next generation to go explore the world, take a one-way ticket and go on a solo trip to advanced countries. Once we get that exposure, we always get a different perspective. We always try to improve our country that way and I think that’s the most important job any human can do. I would skip the college degrees and I would take up internships in global companies. I would be able to absorb their culture and their know-how. That would take me a million steps ahead of the game.

    I would also start reading earlier. I hated reading my entire childhood, partly because I was never good at studies, but partly also because I never tried enough. I think reading takes you in minds of the people you cannot physically reach. One of the first books I completed was “Screw it lets do it” by Sir Richard Branson. Sir Richard has been my idol since then and I have truly tried living his principles. I have failed at many of them, but while trying them out, I became a better person. Books are priceless.

    FAQs

    When was Chappers founded?

    Chappers was founded in 2014 in Pune.

    Who is the owner of Chappers?

    Harshwardhan Patwardhan is the founder of Chappers.

    What is Chappers famous for?

    Chappers is a Men-focussed Indian footwear brand popular for Kolhapuri Chappals.

  • Moha by Geetanjali – Designer Silver Jewelry Brand Keeping up the Traditional Aesthetics

    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 MOHA.

    Silver is renowned for its spiritual properties. The scientific facts also prove that there are incredible health benefits of wearing silver jewelry. Silver metal is quite malleable, lustrous, and soft. Its properties of being high lustrous and reflective make it perfect for jewelry. It can be molded into beautiful designs and are can be carried with elegance. Silver Jewelry is no less than a style quotient. It can be seen in the statistics for the demand for silver jewelry. The demand for silver amounted to 1.8 thousand metric tons in 2021.

    MOHA is a designer silver jewelry brand founded by Geetanjali Gondhale. Read the startup story of MOHA by Geetanjali, its vision, business model, and more.

    MOHA – Company Highlights

    Startup Name MOHA
    Headquarters Thane, Mumbai
    Industry Fashion Jewelry
    Founder Geetanjali Gondhale
    Founded 2014
    Website mohabygeetanjali.com

    MOHA – About
    MOHA – Vision and Mission
    MOHA – Industry
    MOHA – Founder and Team
    MOHA – The Idea and Startup Story
    MOHA – Name and Logo
    MOHA – Products
    MOHA – Business Model
    MOHA – Customer Acquisition
    MOHA – Promotions
    MOHA – Challenges Faced
    MOHA – Achievements
    MOHA – Work Culture
    MOHA – Competitors
    MOHA – Future Plans

    MOHA – About

    Moha is an 8-year-old designer silver jewelry brand with the vision of making ethical jewelry using natural materials. At Moha, they sync with the ever-changing market demands and abreast with every woman’s changing lifestyles along with modern sensibilities and traditional aesthetics. We blend tradition with research and innovation with a promise to create and deliver unique designs.

    Moha is a trendsetters in its journey. We have revived a few product segments like Silver Bugadis, Ear Cuffs, and Trendy Nath’s for everyday use. These were instant hit which was then followed by a lot of other brands.

    At Moha, they believe in telling stories with our designs. They choose topics and motifs which tell stories and stir nostalgia. Their constant effort to reach their ideal consumer has led to a lot of modification and adaptation in jewelry forms.

    There are some practical aspects to the silver jewelry market. The market is mostly under a very unorganized sector with very few trusted brands that can be hand-counted. Moreover, very few designer brands sell customized unique silver jewelry against the readymade traditional pieces available in the market.

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    MOHA – Vision and Mission

    Moha’s vision is to enable women to be confident and beautiful and connect emotionally. They aim to craft environmentally sustainable luxury designer jewelry.

    MOHA – Industry

    Silver jewelry consumption in India has increased to INR 5 billion and is expected to grow over INR 6.1 billion by 2021. Silver in India comes next to gold in the jewelry buying preferences of Indians. With the current downward spiral of the gold jewelry market due to high prices, silver is the newfound love of Indians. The shiny metal has been able to hold its price and even seen appreciation at a time when gold has been continuously losing shine for the past 2-3 years.

    Silver jewelry exports have witnessed a sharp increase in the last few years due to rising overseas demand. This has helped the Indian industry to cater to bulk export orders from overseas markets. With an uptick in the jewelry designing skills in the country, orders have been flowing in from overseas buyers. These were earlier going to manufacturers in Italy and other countries. The Indian market is also very competitive as the manufacturing cost is 40% lower here.

    MOHA – Founder and Team

    Geetanjali Gondhale is the founder of MOHA. She is the Chief Designer and CEO of the Silver jewelry startup.

    She has completed her BCom. She has attended IIMB Goldman Sachs 10K fellow, ISB 10k Ambassador program. She is a passionate designer. She has earlier worked for Tata Communications and Newtons Apple.

    For the first 2 years, she was doing it all alone but now there is a team of around 13 people in and out of the office and 6 people who are a part of the workshops they hold. Moha team consists of people who are well dedicated and help to bring the startup vision into the real world.

    MOHA – The Idea and Startup Story

    The brand Moha was conceptualized and initiated in Goa. Whenever Geetanjali wanted to buy silver jewelry, she would tirelessly roam around to find that perfect piece and then think about how she would have made a more beautiful design out of it. She was always passionate about craft and wanted to do something like that. Thus, the idea of crafting designer silver jewelry took shape. However, she wasn’t aware of what exactly needed to be done in this direction. At that point, she had no answers to even simple questions such as how to make the jewelry, procure raw materials or find buyers. It took 2 years of research and hard work to learn the nitty-gritty. Her determination and perseverance led her to several people who helped her answer her queries and achieve design and manufacturing consistency in Moha.

    She wanted the name and logo to stand out and have a story behind them. “Moha” comes from the name of the tree mostly worshipped by various tribes in India like the Kalpavriksh. It caught her attention because of its aesthetic. The jewelry they possess is also unique from what we wear. It speaks about their tradition and ethnicity. The word Moha means desire and who wouldn’t want to look desirable or indulge in some Moha-Maya?

    MOHA – Products

    Moha Silver Jewellery
    Moha Silver Jewelry

    MOHA is a brand that creates silver jewelry and design various ornaments right from scratch. The process is simple but definitely nerve-racking. Initially, they pick up on a theme that could be based on inspiration or motives. This includes a lot of research and studying various intricacies. They draw up designs and once finalized, these are rendered and made into master files. Once that is done, a step-by-step routine of molding and amending is followed. This is the process they follow to make a variety of jewelry.

    Moha is different from its competitors due to various factors. First, they love designing patterns and drawing up sketches for jewelry. Second, no one feels complete without jewelry since it’s an essential accessory. What makes Moha products unlike any other is that you blend with its uniqueness.

    MOHA – Business Model

    It’s a very basic and to-the-point business model. They make aesthetic and beautiful jewelry and sell it directly to the customers and make sure they love it!

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    MOHA – Customer Acquisition

    Getting the first 50 customers for your startup is a bliss! The hacks we used to acquire their first user and then customers were mostly from Facebook. Social media really helps your business to take off. The first 50 customers were mostly friends and well-wishers who were happy to support what the founder was doing. During the initial month, Geetanjali got the opportunity to participate in the Saturday night market in Goa where her designs were appreciated by many people. It gave her confidence and made her realize that people like what she is doing and so, why not continue with what makes her happy!

    MOHA – Promotions

    MOHA started participating in Group Exhibitions in different cities, but the crowd was too distracted by other brands. Their attention span towards Moha was diluted. Then they decided to do solo exhibitions and promote it through Facebook and local newspapers which helped us to create curiosity around the brand and its recognition. They always wanted people to take the brand seriously, so they put in all their efforts on that. Right from professional shoots to maintaining the quality of each piece coming out of the furnace, everything was thought through and serious efforts were taken to execute it.

    MOHA – Challenges Faced

    Learning the process of making jewelry was a difficult task since the founder doesn’t come from this background. It was a bit of a struggle to understand the basics. Another hurdle that she faced was getting the designs from paper to metal, it took a lot of effort to learn the process and find the right people to do it. It was difficult but not impossible. Mistakes were made; problems took place but that’s how you grow. In her Moha startup journey, she came across a few nice people who liked her ideas and designs and shared their knowledge of “How to”. This is how she was able to learn the process from start to finish.

    MOHA – Achievements

    They do a lot of theme-based design collections. They started with a collection; a series dedicated to the love of Goa. The designs were based on the pre-Portuguese aesthetics of Goa. People loved it and this gave them the confidence to do more including designs inspired by Harappa, Gunjan, Kosh, Ashtamangal, Maheshwar, Sanchi, etc. More concepts are currently in the pipeline.

    MOHA is a bootstrapped company and would like to remain so. The growth of startup is an achievement as well. She started this jewelry business alone and have a good team now. They love designing as much as she does. Above anything, the most important achievement is that we are making beautiful, appealing, and decorative jewelry.

    MOHA – Work Culture

    Since it’s a small company, they have focused on creating a very homely environment. The work culture is such that nobody takes it as a tedious job. They have the passion and the thrill to design jewelry and understand exactly what is being looking for. Majority of the workforce is women, which gives a sense of empowerment. They share a common love for many things such as food. To build motivation for the team, they arrange outdoor activities and the amount of fun therein truly makes it feel that the team is the perfect fit for Moha.

    MOHA – Competitors

    Competition is always healthy since it keeps us on our toes and pushes us to come up with original ideas. There are a few players that have helped MOHA to go beyond limits such as CaratLane, Amrapali, and Quirksmith who create and design beautiful silver jewelry. Their competitors motivate them to bring the A-game.

    MOHA – Future Plans

    As of now, they expect the team and the business to gradually grow.  The future plan is to see the sales and inventory on an upward trajectory. They are learning as they grow.

    FAQs

    Who is the founder of MOHA?

    Geetanjali Gondhale is the founder of MOHA.

    Some of the Popular MOHA silver jewelry are:

    • Earings
    • Necklace
    • Nose Pin
    • Toe Ring

    Who are the competitors of MOHA?

    Some of the top competitors of MOHA are:

    • CaratLane
    • Amrapali
    • Quirksmith

    When was MOHA founded?

    MOHA was founded in 2014 in Thane, Mumbai.

  • Samsung: Story of a Grocery Trading Company That Turned Into a Conglomerate Brand

    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 Samsung.

    In the middle of World War 2, when the nations were fighting for their alliances, there emerged a small trading company named Samsung Sanghoe in the Empire of Japan (today’s South Korea). Starting as a business that deals with groceries, fish and noodles, Samsung widened its path into various industries. The company has now become the most popular and successful conglomerate brand worldwide.

    Samsung’s steady growth and expansion strategies has given the company the 8th highest global brand value. One of its subsidiaries, Samsung Electronics, was ranked 15th in the Fortune Global 500 list for 2021. The beginning of Samsung, its entry into the conglomerate industry, hardships faced during wars and the success it gained despite these challenges are all so uplifting. Read further to know the complete success story of the Samsung Group.

    Samsung – Company Highlights

    Company Name Samsung
    Headquarters Seoul, South Korea
    Industry Conglomerate
    Founder Lee Byung-Chul
    Founded 1st March 1938
    Areas Served Worldwide
    Website samsung.com

    Samsung – About
    Samsung – Industry
    Samsung – Founders and Team
    Samsung – Startup Story
    Samsung – Mission and Vision
    Samsung – Name and Logo
    Samsung – Business and Revenue Model
    Samsung – Funding
    Samsung – Acquisitions and Investments
    Samsung – Subsidiaries
    Samsung – Growth
    Samsung – Challenges Faced
    Samsung – Competitors
    Samsung – Future Plans

    History of Samsung

    Samsung – About

    Samsung is a multinational conglomerate company based in Seoul, South Korea. The company was founded by Lee Byung-Chul in 1938. It was initially established as a trading company. The company today operates various businesses like shipbuilding, telecommunication, healthcare services, hospitality, clothing, construction, entertainment, etc., through its subsidiaries.

    Of all the businesses it runs, Samsung is well-known for its Electronics and Home Appliances. The brand’s mobile manufacturing comes under this division which is controlled by Samsung Electronics Co. Ltd. It is one of the most valued brands worldwide. The Samsung Group contributes more than 15% of South Korea’s GDP.

    Samsung – Industry

    Samsung belongs to the conglomerate sector which refers to a multi-industry company. In other words, a conglomerate company is the one that runs different independent businesses under its control. Such companies are huge and multinational.

    The United States has the most number of conglomerates followed by India. Usually, the US and the European companies are the ones to top the list of ‘World’s Largest Conglomerates’ in terms of market value. But the research shows that Asian companies are on the rise in recent years. As of April 2021, Reliance Industries is said to be the world’s 2nd largest conglomerate company with a market value of $164.9 billion as reported by Statista.

    Samsung – Founders and Team

    The following are the founders and key people of Samsung Group:

    Lee Byung-chul

    Lee Byung-Chul - Founder of Samsung
    Lee Byung-Chul – Founder of Samsung

    Lee Byung-Chul is the founder of Samsung. He was born in Uiryeong, South Korea on 12th February 1910. Byung-Chul belonged to a wealthy family and is considered to be one of the most successful businessmen in South Korea. He established Samsung in 1938 and led the company in an efficient way which in turn made it the largest business group in the country. Lee Byung-chul passed away on November 19, 1987, at the age of 77.

    Lee Jae-Yong

    Lee Jae-yong - Vice-Chairman of Samsung Electronics
    Lee Jae-yong – Vice-Chairman of Samsung Electronics

    Lee Jae-yong is the grandson of Byung-chul and is currently the Vice-Chairman of Samsung Electronics. He succeeded his father Lee Kun-hee in 2020. Jae-yong earlier served as the Chief Customer Officer and Chief Operating Officer of the company. He is considered to be the fourth wealthiest person in South Korea. Lee Jae-yong was convicted and arrested on the grounds of corruption and was released in 2021.

    Jong-Hee Han

    Jong-Hee Han - CEO and Vice-Chairman of Samsung
    Jong-Hee Han – CEO and Vice-Chairman of Samsung

    Jong-Hee Han is the new CEO and Vice-Chairman of Samsung from 2022. He earlier served in several executive positions in the company. The company said that Jong-Hee would lead the new SET division of Samsung which brings TVs, electronics and mobiles under its management.

    Kye-Hyu Kyung

    Kye-Hyu Kyung is the president and another CEO of Samsung. He is said to head the Device Solutions division of the company. Dr. Kyung was the CEO of Samsung Electro-Mechanics between 2020 and 2021. He was a part of Samsung for 30 years and is known to be an expert in semiconductor designs.

    Samsung – Startup Story

    Samsung, when it was established in 1938, wasn’t meant to be a leader in electronics or a conglomerate company. It was started as a small trading company that deals with groceries. Lee Byung-chul procured and exported noodles and other goods to China. The company was then named ‘Samsung Sanghoe’ and functioned with around 40 employees. This was the start of one of the largest conglomerates in the world.

    Samsung – Mission and Vision

    Samsung has a mission “to devote its talent and technology to creating superior products and services that contribute to a better global society.” The company wanted its customers to receive only the best products and services. It is determined to achieve that quality by using its finest resources, both human and technology. Samsung follows strict ethical values and a code of conduct in all its operatives across the globe. It believes that innovation and intelligence combined with good values result in good business and this serves to be the vision of the company.

    Samsung Logo
    Samsung Logo

    The name Samsung is derived from Korean Hancha which means ‘Three Stars’. The founder Lee Byung-chul further explained that the name refers to something big, powerful and numerous that remains everlasting and eternal.

    The logo that Samsung uses currently is the one that was enhanced and improved in 2005 from its previous ones. It was carefully assessed and redesigned based on how human eyes would judge them. Everything right from the color, design, letter spacing, height and letter sharpness were taken into consideration. The company’s motive is to possess a logo that gives visual harmony to the people. Samsung has changed its logo six times over the years since its inception.

    Samsung Logo
    Samsung Logo Changes

    Samsung – Business and Revenue Model

    Since Samsung is a conglomerate entity it is involved in various business operations. Like any other business, Samsung sells its products and services either online or through offline platforms. The company’s areas of operations include electronics, home appliances, advertisements, shipbuilding, engineering and construction, life insurance, biopharmaceuticals, and healthcare.

    Samsung generates the majority of its revenue through its electronics and semiconductor business. The product quality and its cost structure are the major success factor for the company’s growth. In 2021, Samsung’s Semiconductor business turned out to be the biggest revenue generator followed by smartphones and display panel businesses.

    Samsung – Funding

    Since Samsung has an 84-years long history most of its businesses were funded by the parent company or its affiliates. However, Samsung Electronics received two rounds of funding in 2017. The first round of funding went through on May 29, 2017, and the company raised $447.5 million through the round Samsung Electronics Supplier Financing Fund.

    Samsung Automotive Innovation Fund round is the second one that was held in September 2017, where the company raised $300 million.

    Samsung – Acquisitions and Investments

    Samsung Group has made hundreds of acquisitions and investments over the years. These investments by Samsung are made by its subsidiaries through which the company runs its entire operations. The electronics division has made 37 investments and 46 acquisitions whereas Samsung Ventures has made 256 investments in startups.

    Investments

    The following is the list containing some of the recent investments by the subsidiaries of Samsung group in several of their related businesses.

    Date Company Name Invested Amount
    June 21, 2022 NeuReality –
    May 11, 2022 Carbon Clean Solutions $148M
    May 3, 2022 SLAMcore $16M
    April 20, 2022 Double Me $25M
    April 7, 2022 DigiLens $50M
    March 22, 2022 Yug Labs $450M
    March 29, 2022 Jaguar Gene Therapy –
    March 14, 2022 Raven –
    February 17, 2022 DiaMon Tech AG $5.2M
    December 28, 2021 FloatMe $16.2M
    November 10, 2021 TriEye $74M
    November 4, 2021 DigiLens –
    September 29, 2021 QC Ware $25M
    September 21, 2021 HomeCourt $25M
    September 14, 2021 XPerience XR –
    July 26, 2021 Lucid Motors $4.5B
    June 23, 2020 NexAtlas $200K
    January 28, 2020 Directly $20M
    November 27, 2019 42Maru $89K
    October 15, 2019 Antaria –

    Acquisitions

    The following are some of the most significant and recent investments of Samsung Group:

    Date Company Name Amount
    April 2022 Bioepis $2.3B
    January 13, 2020 TeleWorld Solutions –
    January 28, 2019 Corephotonics $155M
    October 17, 2018 Zhilabs –
    March 6, 2018 Kngine $275K
    November 28, 2017 Fluenty –
    July 10, 2017 innoetics –
    June 16, 2017 VRB $5.5M
    February 15, 2017 Melaud –
    February 3, 2017 Perch –
    November 23, 2016 QD Vision –
    October 5, 2016 Viv –
    August 14, 2014 SmartThings $200M
    January 2013 NeuroLogica –
    May 9, 2012 mSpot –

    Samsung – Subsidiaries

    Samsung runs its conglomerate business operation through 12 of its major subsidiaries. Here is the list of those companies:

    Samsung Electronics

    It serves to be the forerunner for the entire Samsung Group. All the consumer electronics and home appliances like TVs, ACs, refrigerators, smartphones, semiconductors, etc., come under this division. It serves to be the leading revenue generator for Samsung.

    Samsung Electro-Mechanics

    This company manufactures mechanical and electronic parts for various companies. Its products include parts for mobiles, chips and camera modules.

    Samsung SDI

    Samsung SDI is involved in the production of energy solutions like rechargeable batteries for various electronic materials. It was established in 1970.

    Samsung SDS

    SDS stands for Samsung Data Systems which provides IT solutions and various technical outsourcing services. It is establishing itself in Artificial Intelligence, Blockchain and various other recent technological developments.

    Samsung Engineering

    Samsung Engineering was earlier known as Korea Engineering which was established in 1970. It is involved in the design and execution of chemical, petrochemical, oil refinery, fertilizer and power plants across the globe.

    Samsung C&T Corporation

    This is a construction company that was responsible for building various popular structures and civil projects across the world. Burj Khalifa, Petronas Towers and Mersey Gateway were all built by Samsung C&T Corporation.

    Samsung Everland

    It has been the subsidiary of Samsung C&T Corporation in December 2013. This company deals with food, textile, fashion and resort businesses. It operates in more than 50 countries.

    Cheil Worldwide

    Cheil is an advertising agency under Samsung Group and is one of the world’s largest in terms of revenue. It is known for its creativity and has several big companies like Coca-Cola, Nestle, Adidas, Microsoft, etc. as its clients.

    Samsung Life Insurance

    Samsung Life Insurance is a Fortune 500 company and is the largest and most valuable company in South Korea. It offers health and life insurance and annuity services to people.

    Samsung Heavy Industries

    Shipbuilding is the primary activity undertaken by Samsung Heavy Industries. It is reported that around 30 ships are being launched every year from its docks. The company’s other activities include procuring and transporting heavy machinery for various industrial and construction activities.

    Samsung Fire and Marine Insurance

    This company is involved in providing insurance and financial services for transportation and business activities. It provides automobile insurance, general insurance, enterprise risk management insurance, etc.

    Samsung Biologics

    Samsung Biologics is a biopharmaceutical company that develops medicines and antibodies for various diseases. This company has an R&D center in California and has obtained several ISO certifications.

    Samsung – Growth

    Samsung's Revenue Growth
    Samsung’s Revenue Growth

    Samsung was involved in the trading business for 12 years until 1950 when the Korean war broke out. After the end of the war in 1953, Byung-chul decided to expand the business and focused on textiles. As a result, he started a woolen mill which was the biggest in the country at that time. The industrialization of that period and the government’s Protectionist policies helped him in boosting his business.

    Samsung started acquiring diverse businesses by the late 1950s and took over three large banks in Korea, an insurance company, an industry that manufactures cement and fertilizers, department stores, an oil refinery, etc., over the years. It was only in 1969 that Samsung entered the electronics industry. Today the growth of Samsung Electronics is astounding. It tops the global rankings in mobile phones and electronics. The company also entered the telecom business in 1980.

    After acquiring a lot of businesses, Samsung started creating subsidiaries to group those companies for efficient management. The death of its founder Lee Byung-chul in 1987 led to disagreements in management and Samsung was separated into five groups. Each group went away with its related industry where Samsung Group held back its electronics business in addition to the construction, security, energy and insurance business.

    The company started to focus on electronics and semiconductors after its separation. It innovated and introduced many equipment and devices which helped Samsung achieve a successful reach in the global market. Samsung also stepped into the aerospace industry in 1999 and is involved in the production of aircraft engines and gas turbines.

    Before establishing its smartphone unit in 2007, Samsung started developing its set-top box technology. The first Samsung smartphone was released in June 2009 and within 3 years of its introduction, in 2012, Samsung Electronics became the largest producer of smartphones in the world. Then the company started creating more benchmarks and achieved many milestones in smartphone production and sales. Today, Samsung has the world’s largest mobile manufacturing plant which is located in Noida, India.

    Samsung – Challenges Faced

    Samsung was accused of several labor abuse and child labor law violations. Few of the suppliers of Samsung were brought under this allegation. The company investigated the matter and terminated business relationships with those suppliers that were confirmed to be violating laws.

    In 2012, Samsung was taken before a court of law by Apple for the infringement of six of its patents. Apple claimed damages for $2.5 billion. Samsung, in return, accused Apple of violating its patents. Finally, it was ruled that Samsung had to pay damages of $1.05 billion and also said that Apple did not violate any patents. The ruling also rejected Apple’s plea to ban the selling of eight models of Samsung phones.

    A major challenge that Samsung faced was after the death of its founder Lee Byung-chul in 1987. The company was split into five groups. Despite the hardships, Samsung focused on the growth strategies with the industries under its management and established itself as a global brand.

    Samsung – Competitors

    Since Samsung is a conglomerate company it has numerous competitors in all the industries of its business. Here are a few of its top rivalries:

    Apple

    As we all know, Apple is a popular brand that is involved in the manufacture of consumer electronics like mobile phones, tabs, laptops, etc. There have been direct conflicts between Apple and Samsung nevertheless they have a great competition among their products.

    Intel

    Intel is an American Company that manufactures and supplies microprocessors and chips for various popular companies. It was once the largest producer of semiconductor chips in the world but Samsung captured the top position in early 2022.

    LG Electronics

    LG Corporation is another multinational conglomerate from South Korea similar to Samsung. LG is popular for its TV, computers, vehicle components, and other home appliances. This company is the second-largest manufacturer of TVs in the world. The first position is retained by Samsung.

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    Samsung – Future Plans

    ‘Together for Tomorrow’ is a new vision that Samsung has announced in 2022 for building a sustainable future. With this initiative, the company is planning on building technology that leaves no footprint or less impact on the environment. Also, higher attention would be paid to the disposal of products after use. The company is also aiming to reduce carbon emissions from its plants.

    Samsung is also on the move to nullify the power consumption of its TVs and phone chargers during standby. These devices are said to consume power when they are switched on and not in use. By 2025, Samsung is determined to reduce its device’s standby power consumption to zero.

    Samsung wanted to fulfill the diverse needs of its customers. To achieve this the company is researching ways to provide a customized experience for its users like modifying the devices that suit their lifestyle. Samsung has made an announcement on this at its recent CES 2022 event.

    FAQs

    When was Samsung founded?

    Samsung was founded in 1938.

    Who is the founder of Samsung?

    Lee Byung-Chul is the founder of Samsung.

    Who are the top competitors of Samsung?

    Some of the top competitors of Samsung are:

    • Intel
    • Apple
    • LG Electronics

    What is the revenue of Samsung?

    Samsung’s global revenue is $244.4 billion in 2021.

    What is the number of employees working for Samsung?

    There are 287,000 employees in Samsung.

  • PAJASA Apartments Success Story of Facilitating Serviced Apartments for the Corporates!

    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 PAJASA Apartments.

    Business tourism is booming in India. The corporate sector is expanding and many need to travel to different places for meetings, conferences, exhibitions, and more.

    India has been the 5th fastest growing business travel destination from 2010-2019. With this increasing number of business tourists, demand for quality accommodation is also increasing. This is giving rise to an increased demand of service apartments, the segment of which is growing at a rate of over 8% per annum and is declared as one of the fastest-growing wings of the hospitality industry.

    To cater to this rising demand, PAJASA Apartments is offering beautiful and comfortable serviced apartments in top locations of the country.

    StartupTalky interviewed PAJASA Apartments co-founder Arpit Awasthi to know more about the offerings and operations of the company.

    Startup Name PAJASA Apartments
    Headquarter Mumbai
    Sector Hospitality
    Co-founders Paras Sangwan, Arpit Awasthi
    Founded 2014
    Parent Organization PAJASA Stay Solution Pvt. Ltd.
    Website pajasaapartments.com

    About PAJASA Apartments and How it Works
    PAJASA Apartments – Founders & Team
    How was PAJASA Apartments Started?
    PAJASA Apartments – Mission
    PAJASA Apartments – Name, Tagline and Logo
    PAJASA Apartments – Business Model and Revenue Model
    PAJASA Apartments – Growth
    PAJASA Apartments – Startup Challenges
    PAJASA Apartments – Awards & Recognitions
    PAJASA Apartments – Competitors
    PAJASA Apartments – Future Plans

    About PAJASA Apartments and How it Works

    PAJASA Apartments is a Mumbai-based startup that provides world-class serviced apartments (with working kitchens) on a daily, weekly, or monthly basis to corporates. The service apartments are offered on a pay as per usage basis, which costs 40-50% less than hotels. Besides, the apartments are located near to the work location across all metro cities in India (max 5 Km distance) to assure the corporate employees complete their projects within their time limit with no traffic/time hassles.

    PAJASA envisions to be alternatives to guest houses that the companies take on a monthly rental basis, which invariably increases their fixed costs. PAJASA works to reduce companies’ fixed costs to variable cost by providing the pay-as-per-usage facility. By facilitating such a shift, it helps in cutting down the hotel cost by around 40% to firms/organizations.

    PAJASA follows a step-by-step process to ensure smooth functioning and a hassle-free experience for its clients. First, the PAJASA team surveys a property at a given location and signs a contract with the owner. The pictures of the property along with the details are then put on their application and website. Once, the company administration requests a booking for their guests through mail or the application, the team checks the best accommodation available near the  work location (a maximum of 5 km in metros); and checks availability.  The system, then, generates a booking. A confirmation voucher is sent to the guests and the company administration as well. The guests can check all the details and the location through software and apps like Google Maps. Pajasa also has a 24×7 support number, which is available for any escalations.

    PAJASA Apartments are currently available in Mumbai, New Delhi, Hyderabad, Chennai, Bangalore, Pune, Gurugram, and Noida.

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    PAJASA Apartments – Founders and Team

    Paras Sangwan and Arpit Awasthi co-founded PAJASA Apartments in 2014.

    Founders of Pajasa Apartments

    Paras Sangwan

    Paras Sangwan is currently the CEO of PAJASA Apartments. He looks after the Business (sales) division of the company. Paras did his Post Graduate Diploma in Foreign Trade from Savitribai Phule, Pune University after completing his Post Graduate Diploma in Business Management from IIeBM College. Paras Sangwan, who also heads PAJASA Agro, as the CEO, previously served as the Business Development Manager at PAJASA Apartments. Prior to founding this firm, Sangwan was a Business Development Executive at Advent Infosoft and then a Marketing Manager at Lake Bloom Residency.  

    Passionate about starting his own business, Paras participated in an inter-college B-Plan competition and secured 2nd position there. He came to Mumbai to find an idea to fulfill his dream. Before starting his own venture, Paras worked in a serviced apartment company, where he got to learn a lot about the functioning of the sector and the gaps exiting in the sector.

    Arpit Awasthi

    Arpit Awasthi was the Founder-CTO at PAJASA Apartments and used to handle the technology domain of the startup before leaving the company in August 2020. Awasthi was a BSc Mathematics student at PPN Degree College, Kanpur, but he dropped out of his college education. Arpit eventually obtained a BTech in Electronics and Communications Engineering. After serving as a freelance Video Production Specialist, Awasthi served Accenture, before moving on to the entrepreneurial way where he founded Edge N Roots, where he remained the Founder for over 12 years. He joined Pajasa Apartments in the meanwhile in February 2017 and was known as the Co-founder and CTO at PAJASA Apartments. He is currently serving as a Technical Analyst at Coforge.      

    Paras met Arpit in a PG in Mumbai; then, Arpit was working in Accenture and have been working on web technologies. Arpit already created a company at his engineering days, keen to do something new. Paras shared his idea to him and asked him to be the co-founder of PAJASA Apartments as CTO. Paras, after that, left his job in March 2014 and opened a small three sitting office at Powai Plaza. As Arpit was working in a company, they had only weekends to work to develop the technology.

    Currently, PAJASA Apartments has a dedicated team of 8+ members, including a core developer, digital expert, accounting professional, content writer, sales manager, and photographer.

    How was PAJASA Apartments Started?

    As a General Manager in the hospitality sector, Paras realized that most of the clients looked for service apartments instead of hotels for long stays as these were cost-effective. However, in the absence of a one-point contact for service apartment owners and corporate clients, company administrations either had to book apartments through several vendors or ended up booking hotels.

    This left Paras thinking about ways of decreasing hotel costs for companies and removing their fixed cost by eliminating the guest house concept.

    Most service apartment owners generally have properties in one or two areas. So for every location, the administration of a company has to find many service apartment vendors, which is a tedious task

    Paras shared the concept with Arpit, his flatmate, who worked with Accenture as a team leader and had a good knowledge of web technologies. With an investment of 5 lakh and two employees, they founded PAJASA Apartments (PAJAS in Sanskrit means growth) in 2014.

    The day we deployed our first cloud application, we had breakfast (Idli) at 4:30 am Monday morning near IIT Powai (Maddu Mess) – says Arpit recalling the early days of the startup.

    PAJASA Apartments – Mission

    PAJASA Apartments’ mission statement is “YOUR SECOND HOME IN EVERY CITY”.

    PAJASA came from the Sanskrit word “PAJAS”, which refers to the goddess Laxmi, and resembles growth.

    PAJASA Apartments Logo

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    PAJASA Apartments – Business Model and Revenue Model

    PAJASA Apartments is the only serviced apartment aggregator company in India, working exclusively with corporates to maintain a high-class standard of corporate stay. None of the OTAs (Online Travel Agency) have created filters for the apartment category like 1 BHK/2 BHK to date on their website.

    PAJASA Apartments has a B2B business model, which is simple yet effective. It works on a margin basis from apartment owners to corporate. It fixes tariffs with apartment owners as well as corporate for the contracted period in the beginning. This tariff remains the same throughout the contracted period and does not vary with season or stay duration, unlike other stay formats. Once a contract is signed with PAJASA Apartments, a company sends PAJASA a booking request for their guest with details either from mail or PAJASAs’ application. PAJASA technology eventually creates a ticket for the request and checks apartment availability. There is a manual check system in place, and the same ensures the best apartment is provided to the guest. Then, the system creates a booking and sends the relevant voucher and SMS to the guests and the admins.

    PAJASA Apartments has a mechanism in place that shows monthly invoices, and similarly, they provide their clients with one invoice for a month that creates value addition to the clients.

    PAJASA Apartments – Growth

    PAJASA Apartments has seen some growth. Operating exclusively in the hospitality industry that truly focuses on the serviced apartments section focusing on the businesses and their operations in India, it has surely got the early bird advantage for the same. Billed as “Your Second Home”, PAJASA Apartments now offers serviced apartments in 8 top Indian cities, and the top locations within them, which includes, Worli (Mumbai), Powai (Mumbai), Cyber City (Gurgaon), Viman Nagar (Pune), T Nagar (Chennai) and more.

    PAJASA Apartments also includes some premium companies as their clients, which includes Google, Tata, Nokia, Amazon, Accenture, L&T, HDFC Bank, Samsung, Domino’s, Muthoot Finance, and more. The company also boasts of being covered by some of the leading media companies like The Hindu, TechStory, YourStory, KnowStartup, Inventiva, and more.

    PAJASA Apartments has worked on SEO and their first 300+ clients came through SEO itself. As of now, PAJASA Apartments has achieved an RMV (Room Booking Value) of INR 7 Cr till Nov 2019. Here’s a brief section pointing the growth highlights of PAJAS Apartments:

    • Total room night boked till date is 25,000+
    • Yearly growth has last been estimated to be over 200%
    • Corporate Client added is 300+
    • 200+ locations added in the top 10 cities in India for the company
    • 5000 room keys listed on the website

    PAJASA Apartments – Startup Challenges

    Serviced Apartment is a very new concept in India, and each city has its own rule for serviced apartments. While in Mumbai, all serviced apartments add electricity bills to their regular tariff, in Delhi, the apartment owners are charged extra for the electricity consumed. To manage these hassles, the company created its own set of rules, and based on it, it signs contracts with serviced apartment owners across India.

    Generally, serviced apartments are considered between BnB and Hotels in stay classification, so most cities have their own format. The PAJASA team is trying to achieve a balanced standard for its corporate clients to enjoy their stay with all world-class amenities in their budget. PAJASA Apartments team ensures that all amenities and services are made available irrespective of location.

    Another challenge for PAJASA was to organize apartments starting from stay inquiry of the corporates and businesses, to bookings, guest stay, billings, and feedback flow to enable apartment owners to manage their apartment without any hassle. To overcome such a challenge, they have created a full online web application that will help the whole process, from onboarding a corporate or a serviced apartment inventory to creating bookings/Invoices/Reports, easy and fully automatic. They strive to make booking management easy for corporate as well as apartment owners.

    Serviced apartments are very different than hotels, so it is not possible to seek any inspiration from any hotel application to manage bookings. PAJASA has, therefore, created its own web application from scratch and regularly updates it on a scenario basis and new use cases, which are very different from the Hotel Industry.

    PAJASA Apartments – Awards & Recognitions

    Some of the recognitions received by the company are:

    • It was appointed as a panelist in the “Food and Hospitality Trade Show”
    • It won the “Innovative Software Platform for Service Apartment” award in the Technology category, at the India International Hospitality Expo.

    PAJASA Apartments – Competitors

    PAJASA Apartments do not have any direct competitor. Though there are many indirect competitors working in this area, no one is working specifically on serviced apartments for corporates. As said by Paras, even none of the OTAs (Online Travel Agency) have created filters for apartment categories like 1 BHK/2 BHK to date on their website.

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    –

    PAJASA Apartments – Future Plans

    PAJASA is currently looking to increase the total list of rooms that are there listed on their website, and also expand their clients. There is also a plan to increase the team size, and make the booking process fully automated. However, as said by Arpit, the company prefers organic growth and is not looking for investors just yet. Though the company is currently working exclusively with corporates, in the future the team wants to establish PAJASA Apartments as a pre-eminent global service apartment company – the first choice of guests, team members, and corporates.

    As short-term corporate projects/assignments are increasing day by day and company resources need a homely stay for their short duration to stay with family, the services provided by PAJASA Apartments have immense potential to grow and accrue profits.

    FAQs

    What is PAJASA Apartments?

    PAJASA Apartments is a Mumbai-based startup operating in the serviced apartment segment, which enables companies and professionals to book fully furnished, quality rooms for their short/long or extended stays.  

    Where is the PAJASA Apartments headquarters?

    The PAJASA Apartments headquarters is in Mumbai, Maharashtra, India.

    Who is the Founder of PAJASA Apartments?

    PAJASA Apartments has been founded by Paras Sangwan and Arpit Awasthi, where Arpit has left his role while Paras is still serving as the Founder and CEO of the company.

    What is the PAJASA Apartments’ mission?

    PAJASA Apartments operates with a mission statement that says “YOUR SECOND HOME IN EVERY CITY”.

  • LegalWiz Success Story – How is it Making Legalities Easier for Startups?

    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 LegalWiz.

    One of the biggest challenges an entrepreneur faces while starting a startup is in the legal aspect of things. From company registration to trademark and copyright registration, from tax filling to accounting, there is lot to take care of. For a startup, it’s overwhelming to manage all by itself. As such, outsourcing these tasks to a reliable organization is very important.

    LegalWiz, a startup based in Ahmedabad is here to manage all the legal and accounting tasks of startups with simplicity and transparency.

    Startuptalky interviewed, the Co-Founder of LegalWiz, Shrijay Sheth to share his experience, information and learning from LegalWiz.

    LegalWiz – Company Highlights

    Startup Name LegalWiz
    Headquarter Ahmedabad, Gujarat, India
    Founders Shrijay Sheth & Namann Pipara
    Sector LegalTech
    Founded April 2016
    Funding $483.95K (Rs 3.8 crore)
    Revenue $113K as on Dec 31, 2018

    LegalWiz – About and Services Offered
    LegalWiz – Founders and Team
    LegalWiz – Idea and Starting Up
    LegalWiz – Mission and Vision
    LegalWiz – Name and Logo
    LegalWiz – Business Model and Revenue Model
    LegalWiz – Funding and Investors
    LegalWiz – Growth and Revenue
    LegalWiz – Customer Acquisition
    LegalWiz – Challenges
    LegalWiz – Competitors
    LegalWiz – Future Plans
    LegalWiz – Founder’s Advice

    LegalWiz – About and Services Offered

    LegalWiz Promo Video

    LegalWiz, a startup based in Ahmedabad is here to manage all the legal and accounting tasks of startups with simplicity and transparency.

    LegalWiz provides a simple, affordable, and transparent way of procuring business professional services. It adds value by saving time and resources for entrepreneurs, which they can then use in their core business.

    The services of LegalWiz include Pvt. Ltd. company registration, trademark registration, proprietorship registration, Limited Liability Partnership registration, GST returns filling, and other types of business registration, Intellectual Property Registrations, Accounting & Bookkeeping, Custom Legal Document Drafting, and more. LegalWiz covers many services that are generally offered by a CA, CS, Lawyer, or other business professionals in India. In other words, we are a Legal Tech company that helps Startups & SMEs with business professional services, taxation, and legal compliance.

    LegalWiz doesn’t charge any hidden costs.

    For a Private Limited Company’s registration, it charges Rs 7,999. For a sole proprietorship registration, LegalWiz charges around Rs 2,998, which includes everything. There are various other packages too, the charges of which are mentioned below:

    LegalWiz Services and Costs

    LegalWiz Technology Used

    Some of the technologies that LegalWiz leverage are LifeRay, PowerBI, MySQL, Google Analytics, Angular, SnowFlake, Python, R etc. Besides these, LegalWiz is highly active across social media and in the startup ecosystem. Its blogs are highly informative and a credible source of information to customers & non-customers alike. LegalWiz leverages organic PR & Communications as well. In-house training to upgrade the responses of the company to its customers is a vital component in LegalWiz’s arsenal. Its “Stand-Up” meetings are a daily feature, so everyone involved gets a birds-eye view of the ongoing activities.

    LegalWiz – Founders and Team

    Shrijay Seth and Namann Pipara are the founders of LegalWiz.

    FOunders of LegalWiz

    Shrijay Seth

    Shrijay Seth is an eCommerce industry veteran and an entrepreneur with 10+ years of experience in working with businesses across the globe, mostly technology-driven. His educational background lies in commerce and business. Shrijay has completed my Bachelors in Commerce and PGD in Financial Analysis from Gujarat University. Later, he did an MBA in Corporate Finance from San Diego State University, California. He founded LegalWiz with Namann Pipara in 2016.

    Prior to that, Seth has been a consultant to some of the highly disruptive eCommerce ventures like Qualcomm, Bouqs (a SharkTank featured company), and LegalZoom (a world leader in Legal eCommerce). Seth also founded Hire4Higher Consulting, just before LegalWiz, and is presently serving as a Founder in that company too.  

    He is a true believer of the people-first philosophy and largely credit his development to the travel opportunities that he has got, both, in a professional and personal capacity. Shrijay loves to travel – major attractions being meeting new people and experiencing a variety of food. Moreover, he loves to eat and cook also! Being brought up in a joint family, values of sharing and caring are important to Seth. In his spare time, he loves to watch TV with family while his spare time alone is mostly spent watching videos (productive or random) on YouTube. Shrijay is also a big fan of the Wikipedia model and believes in perfection through iteration.

    Namann Pipara

    Namann Pipara is another Co-founder of LegalWiz. He had graduated with a BCom. degree from H.L.I.C and topped it off with a Chartered Accountancy degree. Pipara founded LegalWiz with Shrijay in April 2016 and is still serving as a Co-founder of the same company. Pipara is also a partner at Pipara & Company.      

    Shrijay met Namann at a business professional networking event. Namann (and his family) represented a scaled-up conventional CA firm then. Namann has been referred by Shrijay as a Chartered Accountant and an expert at company laws, income tax, and other relevant subject matters. With Shrijay’s background in Legal eCommerce and the knowledge base that Namann had, they knew that they had found a good duo for creating a comprehensive solution. This resulted in LegalWiz.

    LegalWiz Team

    Currently, LegalWiz has 30+ employees, including in-house professionals such as CAs, company secretaries, lawyers, web developers, and designers. It also has 50-plus affiliates.

    LegalWiz Hiring Strategy

    It really depends on the role that the company is hiring for. Some need the candidate to hit the grounds running. LegalWiz really looks for background and expertise. However, many positions that the company now builds are more to create a team that is worthy of this ride and specific seats can be picked later. The company knows that it is going to grow as fast as the slowest person on the team, so it really needs people to join with high growth expectations and who are willing to set higher standards for the existing team. Integrity, willingness to learn and grow, and being super fun is important for the hiring of LegalWiz.

    LegalWiz Work Culture

    I was once told by someone (that I consider to be a great leader and inspirational personality) that talent needs a transition, said LegalWiz founder Shrijay Seth.

    Either it transitions up or transitions out. I promise myself every day that when I enter the office daily, I come not as a boss but as someone who will eventually be accountable for the growth of everyone’s career who are associated with LegalWiz. The culture here is to learn, deliver, and grow. We are ok making mistakes as long as we have the willingness to correct them. Empowerment and accountability are two things you can expect at the least being part of LegalWiz team, added Seth.

    Currently, LegalWiz has a team of 25+ professionals including chartered accountants, company secretaries, lawyers, as well as software & digital experts.

    The company’s main focus is on training and development. The LegalWiz team is aggressively focusing on training and development to achieve its set growth target.

    LegalWiz – Idea and Starting Up

    Shrijay Seth worked with a similar business model (LegalZoom) in the US that was highly scaled and profitable. He knew India also needed something similar, but for different reasons. The founder duo thought transparency, accountability, and simplicity were three major improvements that they could offer to the status quo of the business professional services industry in India. As they scaled to be a one-stop solution for multiple services, they know that cost efficiencies are surely coming as a by-product and can be directly passed on to the customers. Co-founder, Namann Pipara, is a partner at a conventional CA firm. “When we met, we knew that together we could create a disruptive value proposition”, said Shrijay Seth.

    LegalWiz – Mission and Vision

    LegalWiz’s mission is “to become the most “Trusted” brand in professional services industry”.

    The vision of LegalWiz is: “Creating the much-needed access for Startups and MSMEs to avail high-quality services at affordable pricing and with the highest level of transparency in trade”.

    As mentioned by Shrijay Seth, the “Legal” in the company name, signifies business professional services whereas the “Wiz” denotes the excellence of the company at what they do while also reinforcing the online medium that it leverages.

    LegalWiz Logo

    The logo is abstract – designed by Kathan Kothari, a famous NID designer with many accolades to his credit. In keeping with the company’s credo of “Simple”, it shows a filing system – a conventional way of representing the business (Filings) while it also is a Bar graph, denoting growth.

    LegalWiz – Business Model and Revenue Model

    The business credo of LegalWiz is “Simple-Affordable-Transparent“. The company focuses on delivering best-in-class services to its clients. Hence, a huge chunk of the LegalWiz business is from repeat customers. It resolves the customer requirements, keeping them at the center of their operations. This has helped the company win accolades and growth at a sizzling pace.

    The revenue model of the company is simple, it charges for the services that it provides. Also, the services that LegalWiz offers are very transparent. “What you see on the site is what you pay and get”, is what Seth has added while referring to its services. There are no surprises and all of its services are backed by a 100% satisfaction or money-back guarantee.

    LegalWiz has an opportunity to interact with startups at a very early stage, as early as the very initial stages of the business when the entrepreneur is thinking to start his/her business. The company aims to grow with a larger vision, where it can provide various self-fulfilled and closely curated affiliate services to stay its growth partner in the future.

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    LegalWiz – Growth and Revenue

    LegalWiz has seen a good expansion. Till now, LegalWiz has served over 6000 startups and MSMEs. It has over 5,000 paying clients across India. Its clients include startups like eChai and CricHeros. Its larger clients include TOI, Flipkart, Bank of Baroda, Instamojo, CNBC, Tech Story, RazorPay, YourStory, and more.

    LegalWiz Achievements

    • 650 paying customers within the first 9 months of operation
    • 60% growth in customer retention in 2018
    • 20% consistent growth every quarter in 2018
    • A referral score of 9.6/10
    • It is offering services to more than 6000 startups and small businesses

    LegalWiz’s revenue was last recorded at $113K on Dec 31, 2018.

    LegalWiz – Funding and Investors

    On January 5th, 2021, Legalwiz.in raised funding worth Rs 3.8 crore from ContCentric IT Services Private Limited. ContCentric, an Ahmedabad-based enterprise content management company, is leveraging portal and ECM solutions for addressing the needs of clients globally.

    This investment will help LegalWiz to optimise its performance and create new avenues for delivering greater value.

    ContCentric will be the investor and technical development partner in this relationship. Our proven expertise in automating business operations will help boost efficiencies, improve customer onboarding, and the customer experience for Legalwiz.in. ContCentric aims to increase our offerings and include financial investment and mentoring, homegrown product, and technical partnership along with our current ECM and portal development services. The resulting synergies will help us demonstrate our capabilities and also further build our reputation as an investor.” Says, Gaurav Barot (CEO, ContCentric)

    Date Name of the Transaction Amount Raised Lead Investors
    January 5, 2021 Corporate Round $483.95K ContCentric IT Services

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    LegalWiz – Customer Acquisition

    Though LegalWiz has a great quality of service, communicating the value to the audience is important. It functions as a true eCommerce company in that sense and leveraged multiple channels of marketing since day one. The initial set of customers came in with some paid marketing and PR, along with great support from friends and family. Later, referral and repeat buyers became a significant chunk whom the company serves on an ongoing basis.

    LegalWiz – Challenges

    There were several challenges, some we nailed and some we took as learning for next time. A major challenge in the early days was to create a culture within the company that is accepted both by business professionals (CA/CS/Lawyers) and tech people. They practically come in with a very different work life expectations and needs to be catered differently as well – while making sure it all rhymes well to achieve a common vision. It required a good amount of mentor-ship from the management and a great deal of understanding from all employees to get us where we are today, proudly so! – Shrijay Sheth

    LegalWiz – Competitors

    There are many service providers like LegalWiz in the market, most of which started during 2019-2020. However, the market for business professional services in India is huge, worth multi-billion dollars, and is annually growing. LegalWiz sees VakilSearch, LegalRaasta, and MyOnlineCA, as fellow service providers – and is charged with positivity whenever it crosses their growth stories. LegalWiz sees them more like a market validation and contributor to the growing industry of legaltech than just competitors. Nonetheless, LegalWiz thrives to become a leader here, and its major focus is always on the service quality.

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    LegalWiz – Future Plans

    “We want to be the most customer-centric business professional services company in India”, said Shrijay Seth. Apart from that, there are plans to serve as a SaaS company, thereby extending some Saas products as new products for its customers that will help them manage their taxation, compliances, and other business-related processes. LegalWiz strives to make every business follow the law and simplify their legal journey.

    The company aims to grow further, and to achieve this growth, the company is working on providing a smoother customer experience.

    LegalWiz – Founder’s Advice

    “Don’t be judgmental. People are never wrong, they are mostly different. Work incredibly hard and stay true to your dreams. It may be very difficult, but you will find people who can help – thus, networking & tapping the ecosystem is vital.”

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    FAQs

    What is LegalWiz?

    LegalWiz is a legaltech company that is headquartered in Ahmedabad, Gujarat, India, and aims to provide quality, professional legal services, for startups, small businesses, entrepreneurs, and individuals.  

    Who are the founders of LegalWiz?

    LegalWiz has been founded by Shrijay Seth and Namann Pipara.

    Where is the headquarters of LegalWiz?

    LegalWiz is headquartered in Ahmedabad, Gujarat, India.

    How much funding did LegalWiz raise to date?

    LegalWiz has raised $483.95K in its latest round dated January 5, 2021, which is the maiden round for the company.

    How are the LegalWiz reviews?

    Going by the LegalWiz reviews we can see that the company has been rated 4.6 out of 5 in terms of Google reviews.  

  • Air India – Tata Group Owned Aviation Business Excelling In Affordability and Comfort

    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 Air India.

    Air India is the country’s best flying ambassador. Thanks to the 18,000 Air Indians who have continued the legacy of rising high, the drive to succeed and the passion that marked Air-inaugural India’s flight on October 15, 1932, is still indisputably present today.

    In addition to domestic flights, Air India, covers southern and eastern Asia, Europe,  the Middle East, Africa, the United States, Australia, and Canada. It was formed in 1932 (as Tata Airlines) and headquartered in Mumbai.

    After the transaction was finalised by Air India Limited’s previous owner, the Government of India, it is now held by Talace Private Limited, a Special-Purpose Vehicle of Tata Sons.

    Know more about Air India, its company history, business model, funding and investors, etc.

    Air India – Company Highlights

    Startup Name Air India
    Headquarters New Delhi
    Industry Aviation
    Founder J.R.D. Tata
    Founded 1932 ( as Tata Airlines in Mumbai)
    Valuation ₹ 14,718 Crore
    Revenue ₹ 26,430 Crore
    Parent Organisation Tata Group
    Website airindia.in

    Air India – How it Works?
    Air India – Industry
    Air India – Founder
    Air India – Startup Story
    Air India – Name, Logo, and Tagline
    Air India – Mission, and Vision
    Air India – Products
    Air India – Business Model
    Air India – Marketing Campaigns
    Air India – Acquisitions
    Air India – Competitors
    Air India – Challenges Faced
    Air India – Future Plans

    Air India Case Study

    Air India – How it Works?

    Bharat Ratna J.R.D. Tata founded an airline in 1932, realising his ambition and beginning the path that would become Air India. His love of flying, which led him to become the first Indian to acquire a commercial pilot’s licence, ignited the beginnings of Air India with the introduction of postal service from then-Bombay to Karachi via Ahmedabad. Since becoming nationalised in 1953, Air India has grown to become a significant domestic and international brand.

    After joining Star Alliance, the largest global airline alliance, in July 2014, Air India’s international connectivity, which includes cities in Europe, The United States, The United Kingdom, Africa, the Gulf, Asia, and Australia, was improved. The airline flies to every remote county in our nation.

    It has consistently stood by the country and its citizens in times of need and has been crucial in evacuation operations throughout crises like the Gulf War, the Coronavirus pandemic, and the most recent situation in Ukraine.

    After re-joining the Tata Group on January 27, 2022, Air India is ready for takeoff, reinventing its objectives and strategy with a focus on overall excellence and customer-centric procedures.

    Mr. Ratan Tata, Chairman Emeritus, Tata Sons, said on the occasion, “The Tata group welcomes Air India’s new customers and is thrilled to work together to make Air India the airline of choice in terms of passenger comfort and service.”

    102 local and foreign destinations are served by the fleet of Airbus and Boeing aircraft operated by Air India. Along with many key cities around India, the airline has its hub at Indira Gandhi International Airport in New Delhi. With a market share of 18.6%, Air India is the biggest airline operating in India. Air India offers service to more than 60 overseas locations on four continents. On July 11, 2014, the airline joined Star Alliance as its 27th member.

    Air India – Industry

    Almost all facets of air travel and the operations that support it are included in the aviation business. This implies that it covers the whole airline sector as well as the manufacture of aircraft, research organisations, military aviation, and much more.
    The number of operational aircraft in the global aviation fleet at the start of 2022 was equal to that of 2017. However, at 25,500, it was about double the epidemic low mark set in the middle of 2020.

    The business is now again set up for a decade of development after the Covid-19 outbreak lasted for two years. Domestic travel demand is anticipated to approach its pre-pandemic high in early 2023 on a worldwide scale. The projection then calls for continued growth through the rest of the decade at rates that even outpace improvements in GDP.

    The ten years through 2032 are likely to be packed with problems that will put aviation’s resilience and profitability to the test, unlike the ten years between 2010 and 2019 when the sector had stable yearly gains in demand. The key issue for aviation going ahead is not its capacity for growth, but rather it’s capacity for profitable growth.

    Air India – Founder

    Air India is founded by Jehangir Ratanji Dadabhoy Tata on 29 July 1946.

    J.R.D Tata

    J.R.D Tata - Founder of Air India
    J.R.D Tata – Founder of Air India

    Indian aviator, manufacturer, businessman, and head of the Tata Group, JRD Tata was a non-resident Indian, son of renowned industrialist Ratanji Dadabhoy Tata and his spouse Suzanne Brière. His mother was the first Indian lady to drive a vehicle, and he was the country’s first-ever certified pilot in 1929. He is most known for founding various businesses that are part of the Tata Group, including Voltas, Air India, Titan Industries, Tata Consultancy Services, and Tata Motors. He won two of India’s highest civilian honours—the Padma Vibhushan and the Bharat Ratna—in 1955 and 1992, as well as the French Legion of Honor in 1983.

    Air India – Startup Story

    In 1932, Air India launched Tata Airlines under the name of its founder, J. R. D. Tata. Between the Indian cities of Ahmadabad, Bombay, Bellary, and Madras and Karachi, Pakistan, the line transported mail and people. Within a short period, Tata Airlines’ itineraries featured stops in Trivandrum, Delhi, Colombo, Lahore, and other nearby Indian towns.

    After World War II was over, the airline changed its name to Air-India Limited and went public. With the government owning a 49 per cent stake in the business, the airline expanded its reach outside of India in just two years, operating frequent flights to Cairo, Geneva, and London. The name of the company was once again changed to Air-India International Limited to reflect its expanded range of services.

    For a variety of factors, India fared better in the airline business than the majority of other emerging nations. Air India mostly used native-born pilots, unlike other airlines which had to rely on foreign pilots to fly their aircraft. Similar to how many competent Indians were available to maintain India’s fleet and educate and manage its workforce, many other nations had to look outside of their borders for this type of knowledge. Along with its sibling carriers, Air-India profited from these benefits.

    Early in the 1950s, Air India saw competition for its routes for the first time. Due to the affordable, war-surplus DC-3s that were becoming available, several new airlines were starting to emerge. There were no less than 21 established airlines, 11 of which had been granted permission to operate in Indian airspace.

    Expanding its aviation business even further was one of Air India’s main objectives for the nineties. At the start of the decade, Air-India accounted for around 30% of the country’s air cargo business, with more than three dozen foreign airlines transporting the remaining 70%. To expand its ability to transport exports, the airline intended to hire more jet freighters. The International Airports Authority of India enhanced the ground handling and infrastructure at the entrances it manages, increasing its appeal to airlines and freight forwarders. With these modifications in place, cargo revenue for the 1990 fiscal year was the US $195 million, or 21% of Air India’s revenue.

    Air India – Name, Logo, and Tagline

    When J. R. D. Tata of Tata Sons, an Indian aviator and business mogul, launched Air India, it was originally known as Tata Air Services before changing its name to Tata Airlines. The airline used a six-seat Miles Merlin to launch its inaugural domestic route from Bombay to Trivandrum. It was given a new name in 1938, first as Tata Air Services and then as Tata Airlines.

    Although its founder J. R. D. Tata would continue in that role as Chairman until 1977, the Government of India approved the Air Corporations Act in 1953 and bought a controlling share in the airline from Tata Sons.

    As part of a reorganisation, the business was given the new name Air India International Limited and the domestic services were given to Indian Airlines.

    The tagline of Air India says, “Air India… Truly Indian”

    The airline’s previous logo included an orange “Konark Chakra” inside of a crimson flying swan. The soaring swan is a modified version of the iconic Air India emblem, “The Centaur,” while the “Konark Chakra” is evocative of the Indian logo.

    Air India – Mission, and Vision

    Air India’s mission statement says, “to deliver the highest quality of service around the world and be the epitome of Indian hospitality and to be India’s flag carrier and provide seamless travel within India and the world.”

    Air India’s vision is, “to become India’s most efficient and preferred LCC on regional and international routes; constantly exceeding guest’ expectations in terms of quality, affordability, convenience and comfort.”

    Air India – Products

    Air India is one of India’s largest airlines, offering both international and local flights. Transport for people and goods was originally Air India’s two main services. But in 2012, the freight transport was shut down. It exclusively uses passenger transportation for operation. For the same, it makes use of Boeing and Airbus aircraft.

    Some of its key products include premium lounges and in-flight entertainment. It also rents a number of its fleets to cut costs while maintaining quality. Air India’s extensive network of routes allows it to provide flights to the world’s most significant cities and commercial hubs. To encourage repeat business from its customers, it offers a high degree of safety.

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    Air India – Business Model

    Air India's Financial Performance (2016 - 2020)
    Air India’s Financial Performance (2016 – 2020)

    According to the much research conducted and information obtained, Air India has solidified its position as India’s largest and most productive air carrier on all fronts. Millions of travellers regularly use their service, which is current and useful.

    They aggressively position themselves in the market utilising a range of marketing strategies, such as social media campaigns and advertising, to tell customers about upcoming packages and other things. Customers consider their affordable costs to be a competitive advantage and a selling point. Overall, they have reached new heights while maintaining their innovativeness thanks to their marketing and sales strategies.

    Some of the elements that determine the pricing include the path used by air traffic, the distance travelled, and the number of stops made along the trip. Given how fiercely competitive the airline industry is, competitive pricing makes sense. Within a flight, there are simultaneously two different pricing ranges:

    • Economy class
    • Business-class

    Middle-class families may easily afford flight tickets on Air India. Business-class passengers are the main target of premium pricing since they are more likely to pay for and use premium services.

    Air India – Marketing Campaigns

    Through various media, including print, radio, television, and internet platforms, marketing efforts spread the word about items. It connects with the client by conveying a relevant message in addition to promoting the goods. The greatest and safest travel experience is promised by Air India campaigns.

    • A dig at Indigo – After a video showed one of their personnel fighting a passenger, Air India posted two advertisements on Twitter in a covert thread towards IndiGo Airlines. Air India poked fun at IndiGo after the assault incident by promising “unbeatable service” and using the letter “beat” in blue, IndiGo’s signature colour. The second one has the slogan, “We raise our hands ONLY to offer namaste,” and features Air India’s mascot, “Maharaja,” in his signature pose. On Twitter, people criticised IndiGo over the event and called for a boycott of the airline.
    • Mascot – The Air India Maharaja, arguably the country’s most known mascot, is typically seen standing with his hands in a polite namaste or bowing with his palm placed over his heart to greet visitors. But the mascot has since undergone several additional changes. Let’s examine a few of them.
    • War Ads – Air India and IndiGo are in war advertising. To entice customers, Air India is boosting up its advertising effort. Right behind IndiGo’s check-in desks, Air India posted an advertisement on a wall panel that said, “Next time fly with Air India and experience the difference.” Although no competitors are mentioned, the strategic positioning speaks for itself. Even IndiGo made no concessions. It responded to Air India with a commercial.

    However, the national carrier has never engaged in such aggressive marketing. With loud advertising and promotional discounts, Air India is attempting to get consumer attention.

    Air India – Acquisitions

    Acquiree Name About Acquiree Date Amount
    AirAsia India AirAsia India provides scheduled air passenger transportation, air cargo transportation, and charter flight services. Jun 14, 2022 –

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    Air India – Competitors

    Top competitors in the competitive list of Air India are:-

    • Indigo
    • Jet Airways
    • Go Air
    • Air Asia
    • Etihad
    • Oman Air
    • Thai Airways
    • Singapore Airlines
    • Emirates
    • Jet Airways
    • Spicejet

    Air India – Challenges Faced

    The COVID-19 outbreak and rising fuel prices, according to claims in the media, are expected to lead India’s airlines to suffer their largest-ever loss of almost 20,000 crore rupees this fiscal year. Since its merger with Indian Airlines in 2007–2008, the airline has never turned a profit. In actuality, it disclosed a 7,017 crore rupee loss for FY21. The Tatas want to increase on-time performance and in-flight amenities now that they are back in the Air India cockpit. They must also encourage a corporate culture among the airline’s staff. Problems like outdated aircraft and subpar cabin goods must also be addressed.

    The fleet’s update and maintenance come next. Air India has 141 aircraft in its fleet, a mix of narrow and wide-body Airbus and Boeing models, but has committed to giving Tatas just 118 of them in flyable condition. The 787 fleet of Air India’s airline is likewise severely short on components and engines. Tata group discovered that at any one moment, at least five 787s were sitting idle owing to a lack of engines. On the Boeing 777 fleet, which serves as the backbone of Air India’s successful US operations, at least two aircraft have been determined to be unfit for flight, and the others require extensive refurbishment.

    How well the Tata Group will organise its aviation operations is an equally significant task.

    Air India – Future Plans

    “In terms of fleet, we know we have work to do,” Natarajan Chandrasekaran, chairman of the Tata Group, told. “We will address it with utmost urgency. We’ll upgrade our fleet, we’ll bring modernity in our fleet, we’ll bring a new fleet.”

    In the upcoming months, Mr Chandrasekaran informed employees that Air India will swiftly boost the number of its narrow-body and wide-body aircraft. The average fleet age of Air India is more than ten years.

    As per the company’s site, its fleet presently consists of 153 aircraft. This comprises 49 wide-body aircraft produced by Boeing and Airbus, including planes from the most popular 320 and 737 families. This is a challenging combination since each kind of aircraft demands a different set of pilot and crew skill sets.

    Even though reductions are typical in such huge agreements, a sale for 50 brand-new 787-9 planes may be worth $14.6 billion at sticker pricing. The oldest models of the fuel-efficient workhorse are flown by Air India, one of the Boeing Dreamliner’s earliest purchasers worldwide, albeit some of them are still grounded owing to a lack of components.

    FAQs

    When was Air India founded?

    Air India was founded in 1932 (as Tata Airlines) and headquartered in Mumbai.

    Who is the founder of Air India?

    Air India was founded by Jehangir Ratanji Dadabhoy Tata in 1946 in New Delhi.

    Is Air India and AirAsia India same?

    Air India acquired AirAsia India on Jun 14, 2022.

    Who are the top competitors of Air India?

    Top competitors in the competitive list of Air India are:-

    • Indigo
    • Jet Airways
    • Go Air
    • Air Asia
    • Etihad
    • Oman Air
    • Thai Airways
    • Singapore Airlines
    • Emirates
    • Jet Airways
    • Spicejet

    Who is the owner of Air India?

    Air India is owned by Tata Group.

    Who is the CEO of Air India?

    Campbell Wilson is the CEO of Air India since 12 May 2022.