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"Bootstrap Start-ups’ have taken humongous place in a developing country like India. It is a part of the mainstream now".
Masayoshi Son (Founder & CEO) Of SoftBank says, “ This is the beginning of India”.
It was five months later from India’s 69th Independence Day when our honorable Prime Minister, Mr. Narendra Modi encouraged young wannapreneurs by unveiling the historic “Start-up Action Plan” from the portico of India’s landmark Red Fort.
Being a fabulous orator he also quoted, “If anyone asks what the difference is? The government working on a Saturday that too after 6 pm is the difference.
” He also said: “When I heard Ritesh Aggarwal of (OYO) speak, I thought how a tea seller like me didn’t think of setting up a hotel chain.”
India is one amongst the first five largest start-up communities in the world with the number of start-ups crossing 4,200. The numbers became clear when Nasscom (National Association of Software and Services Companies) revealed that India has moved up to third position and has emerged the fastest growing base of start-ups around the globe. Every Wannapreneur should check the "Wannapreneur Story" of the day and enjoy entrepreneurship.
Here, I have listed top 5 start-ups who are shining brightly above other listed 100s of start-ups in India.
‘Piece of Information’ on above mentioned:
India’s largest online marketplace, featuring a wide assortment of products across categories like Electronics, Home, Fashion etc. It is the shopping destination for millions of internet users across the country.
FOUNDED: -4 February 2010
FOUNDERS: -Kunal Bahl (Wharton Graduate), Rohit Bansal( IIT Delhi) CITY: -New Delhi, India
REVENUES: - It has 1000 sellers on its platform getting 1 crore of sales.
HEADCOUNT: - 5000+
INDUSTRY: - Internet (e-commerce, online shopping)
WHAT IT OFFERS: - Snapdeal features best offers on products at unbeatable prices. They believe to be the one-stop-shop website for the best stuff to do, see, feel, gift and buy in your city.
GROWTH:- From 7000 shipments in January to 25000+ at present because of its price, reach, diversity, clear mission and ambitious targets.
EXPANSION PLANS: - It is planning to invest in technology and hire engineers. Snapdeal gets about half of its orders through mobile phones and m-commerce will be the key thrust area for the company. The company is expected to launch an initial public offering (IPO) in the next two years.
INVESTORS & AMOUNT RAISED: - Investors in the company include SoftBank Corp, Ru-Net Holdings, Tybourne Capital, PremjiInvest, Alibaba, Temasek Holdings, Bessemer Venture Partners, IndoUS Ventures, Kalaari Capital, Saama Capital, Foxconn Technology Group, Blackrock, eBay, Nexus Ventures, Intel Capital, Ontario Teachers' Pension Plan, Singapore-based investment entity Brother Fortune Apparel and Ratan Tata.
"Snapdeal has raised $100 million (Rs 600 crore or Rs 6 billion) in a new round of funding".
Snapdeal aims at making life fun for consumers. They just have one simple business philosophy “We just do not offer best prices, we offer great experiences! You do not need to spend a fortune to enjoy what you love; we are just a click away”.
EMAIL ADDRESS: firstname.lastname@example.org
Getting people where they need to be. An online transportation company. It is customer friendly through Olacabs-iPhone app, Olacabs-Android app, and Olacabs-Windows Phone app.
FOUNDED: - 3 December 2010
FOUNDERS: - Bhavish Aggarwal(CEO) & Ankit Bhati(CTO)
CITY: - Started in Mumbai, Headquarters in Banglore, Karnataka
REVENUES: - Ola expects to notch up gross revenue of $1 billion (Rs 6,364 crore) by the next quarter, which will make it only the third Indian startup after online marketplaces Flipkart and Snapdeal to cross the coveted milestone.
INDUSTRY: - Technology (Taxi- Vehicle for hire)
WHAT IT OFFERS: -
GROWTH: - Olacabs now provide services in more than 20 cities. Now it is the biggest cab-booking service provider in the company.
EXPANSION PLANS: - Olacabs has lined up aggressive expansion plans after the funding round from SoftBank. It is targeting to have on board a million driver partners in three years. Currently, it has 35,000 cabs on its platform.
It also plans to further invest in its technology platform to provide a better experience to customers as well as expand its footprint to smaller cities.
INVESTORS & AMOUNT RAISED: - There was total of 19 investors. They were: ABG Capital, Accel, Anupam Mittal, Baillie Gifford, Didi Chuxing, DST Global, Falcon Edge Capital, GIC, Kunal Bahl, Matrix Partners, Matrix Partners India, Mauritius Investments, Rehan Yar Khan, Sequoia Capital and Soft Bank respectively. The company has raised more than $275 million and is valued at over a million dollars.
The CEO Bhavish Aggarwal says, “ We want to promote driver entrepreneurship and develop skills so that people buy a car and become a small- scale entrepreneur”.
EMAIL ADDRESS: www.olacabs.com
India’s favorite online shopping destination. It was set up by a bunch of young enthusiastic IIT graduates as an online retailing venture with the objective of making books accessible to individuals living in the farthermost parts of India.
Today they sell movies, games, music, mobiles, home appliances, health care and personal care products at competitive prices backed by prompt delivery and excellent customer service.
FOUNDED: - 2007
FOUNDER: - Sachin Bansal(Chairman) & Binny Bansal(CEO)
CITY: - Registered in Singapore, Headquarters in Banglore, Karnataka.
REVENUE: - 2846 crore according to 2014 Financial year status.
INDUSTRY: - the Internet (e-commerce, online shopping)
WHAT IT OFFERS: - It is India’s leading e-commerce marketplace offering over 30 million products cross 70+ categories including books, media, consumer electronics, and Lifestyle. Flipkart is known for its path-breaking services like cash on delivery.
GROWTH: - Online shopping has grown so much that competition level has even more. Flipkart leads the race with net revenue of 179 crores followed by Amazon at 168.9 crores and Snapdeal at 154.11 crores.
However, when it comes to losses, Flipkart leads by a much bigger margin and their loss for 2013-14 stands at Rs. 400 Crore. Comparatively, Amazon losses are pegged at Rs. 321.3 crore and Snapdeal had least losses of 3 with 264.6 crores. So we can even say that in spite of growth in revenues it is making losses.
EXPANSION PLANS: - India’s biggest e-commerce company Flipkart plans to invest a huge amount of money for its expansion. The company is planning to open 100s of warehouses across the country.
INVESTORS & AMOUNT RAISED: - They raised funds from venture capitals like Accel India, Tiger Global, Iconiq Capitals and Naspers. October 2013, it was reported that Flipkart had raised an additional $160 million from new investors Dragoneer Investment.
Group, Morgan Stanley Wealth Management,Sofina SA and Vulcan Inc. with participation from existing investor Tiger Global.
Flipkart is the only online player offering services like In-a-day-guarantee (50 cities) and same-day-guarantee (13 cities) at scale. Its annual subscription service, Flipkart First, is the first of its kind in the country.
It has become the preferred online marketplace for leading Indian and international brands.
EMAIL ADDRESS: Cs@flipkart.com
Every Wannapreneur should check the "Wannapreneur Story" of the day and enjoy entrepreneurship.
Bigbasket is India’s largest online supermarket which allows a customer to walk away from the drudgery of grocery shopping and welcome an easy relaxed way of browsing and shopping for groceries.
FOUNDED: - October 2011
FOUNDERS: - Team of 5 people (Hari Menon- The CEO, Mr. V.S. Sudhakar, Mr. Vipul Parekh, Mr. Abhinay Choudhary & Mr. V.S. Ramesh.)
CITY: - Operates from Banglore, Mumbai & Hyderabad.
REVENUE: - 178 Crores
HEADCOUNT: - 1000
INDUSTRY: -Grocery delivery start-up
WHAT IT OFFERS: - It is India’s largest online supermarket delivering all personal and household needs right to our doorstep in 22 cities in India.
GROWTH: - The Company expects to reach a turnover of Rs. 1,800 crore by 2016-2017
EXPANSION PLANS: -
INVESTORS & AMOUNT RAISED: -As per the documents filed with the Registrar of Companies, the company has raised a total funds of INR 694 crores from various investors including Bessemer Ventures, Helion Partners, and Sands Capital. The latest investment of INR 124 crores was done by the US-based Sands Capital.
In this fast-paced world time is always of the essence and hence bigbasket makes our grocery shopping easy and convenient so that no time is wasted in the process. At bigbasket they believe in, “being smart, quick and efficient, making our life as leisurely as possible”.
EMAIL ADDRESS: email@example.com
India’s first end-to-end supply chain company. Delhivery helps merchants and brands create successful online business through modular e-commerce services and core logistics. Their operational capabilities are designed to meet the needs of any business looking to go online.
FOUNDED: - May 2011
FOUNDERS: - Sahil Barua (co-founder & CEO), Mohit Tandon, Bhavesh Manglani, Suraj Saharan & Kapil Bharati
CITY: - Gurgaon, Haryana
HEADCOUNT: - 2500+
INDUSTRY: - Logistics
WHAT IT OFFERS: - They provide sellers a modular suite of e-commerce technologies coupled with pan India logistics operations, helping them achieve fast, reliable and flexible customer fulfillment.
Their proprietary commerce technologies toolkit provides sellers a way to develop and manage their entire online channel- including setting up a web-store and order management system, catalog management, studio services, integration with marketplaces, managing payments, SEO/SEM, selling on social media platforms, user verification and fraud detection, inventory management.
GROWTH: -4 years down the line they are earning huge revenues out of it and are disrupting the logistics and supply chain industry.
EXPANSION PLANS: - They have plans to expand their working area over 250 cities. Besides these, the company also plans to extend its tool-kit which includes omnichannel services, customer/channel analytics, ship-smart, and COMS.
INVESTORS & AMOUNT RAISED: - Times internet limited & Nexus Venture capital
"Its main aim is to create outstanding buying experiences for their consumers".
EMAIL ADDRESS: - firstname.lastname@example.org
The start-ups that do well are the start-ups that work all the time. Indian business tycoon the chairman of Wipro, Azim Hashim Premji also remarks on this that, “You cannot get into business for the fashion of it”.
For a startup whether bootstrapped or funded, we need to toil hard. I believe, ‘A team aligned behind a vision will move mountains’. Therefore, sell them on your roadmap and don’t compromise because you need to care about the details, the fit, and the finish absolutely.
These are some inspiring wannapreneur stories. If you have one, let us know.
People demand edu4sure to publish "Wannapreneur Story" every month and we need support from people who can connect us to Wannapreneur so that we can share his/her experience with other wannapreneurs. Write the story and share at email@example.com.