REPORT ON UNICORNS OF INDIA

PREPARED BY-
NAME PRN
1. TANVI SHEWALE - 21020241125
2. KUSHAL KUMAR - 21020241114
3. HIMANSHI PANT - 21020241095
4. RITVIK GAWAI - 21020241143
5. RITIK PAWAR - 21020241117
6. ANURAG NAYAK - 21020241084
7. AVIK BARMAN - 21020241141

MBA(IB) 2021-23
Semester- I
Economics for Managers
Div- B
Study Group- 11
Prof. Dr. Jeevan Nagarkar
What Is a Unicorn?

Unicorn" is a term utilized in the investment business to portray a secretly held

new business with a worth of more than $1 billion. The term was first
promoted by investor Aileen Lee, organizer of Cowboy Ventures, a seed-stage
investment reserve situated in Palo Alto, California.
Unicorns can likewise allude to an enlistment wonder inside the (HR) area. HR
supervisors might have elevated standards to fill a position, driving them to
search for competitors with capabilities that are higher than needed for a
particular work. Generally, these chiefs are searching for a unicorn, which
prompts a distinction between their ideal up-and-comer versus who they can
enlist from the pool of individuals accessible.

Unicorn is the term utilized in the funding business to depict a new

business with a worth of more than $1 billion.

The term was first instituted by financial speculator Aileen Lee in 2013.

Some mainstream unicorns incorporate SpaceX, Robinhood, and Instacart.

There are in excess of 600 unicorn organizations all throughout the planet,
as of June 2020.

The term unicorn can likewise be utilized by HR supervisors to portray

their optimal up-and-comers, who might be overqualified for a specific
position.

A Credit Suisse Group AG report last month found there are around 100
unicorns in India with a consolidated market worth of $240 billion, in areas
from web based business and fintech to schooling, coordinations and food-
conveyance.
Understanding Unicorns

A unicorn is the thing that a great many people in the monetary world consider
a startup that is exclusive with a valuation surpassing $1 billion. A portion of
the more mainstream unicorns situated in the U.S. incorporate home-sharing
goliath Airbnb, computer game organization Epic Games, just as fintech
organizations Robinhood and SoFi.

Aileen Lee initially expounded on unicorns in the investment world in her

article, "Welcome to the Unicorn Club: Learning from Billion-Dollar Startups."
Here, she took a gander at programming new companies established during the
2000s and assessed that just 0.07% of them at any point come to a $1 billion
valuations. New companies that figured out how to come to the $1 billion
imprint, she noted, are uncommon to such an extent that discovering one is just
about as troublesome as tracking down a legendary unicorn.

As per Lee, the principal unicorns were established during the 1990s. Letters in
order (GOOG)— then, at that point Google—she noted, was the reasonable
super-unicorn of the gathering with a valuation of more than $100 billion.
Numerous unicorns were brought into the world during the 2000s, however
Facebook (FB) is the decade's just super-unicorn.

Valuations of Unicorns

The worth of unicorns is for the most part dependent on how financial backers
and investors feel they will develop a lot, so everything boils down to longer-
term guaging. This implies their valuations steer clear of the manner in which
they perform monetarily. Indeed, a significant number of these organizations
infrequently produce any benefits when they initially get running.
Financial backers and industrialists might go over certain obstacles, however.
In case there could be no different rivals in the business—making the startup a
first of its sort—there might be no other plan of action with which to think
about, making it a to some degree convoluted interaction.
PAYTM

Paytm is a well-known unicorn company in India. With a market share of 11.63

percent, it is one of India's main digital payment service providers, and it is currently
ranked third among India's top UPI apps as of June 2021. The fintech company is
well-known for its payment gateway service, which allows users to send safe
payments directly from their bank accounts to vendors. Paytm entered the Unicorn
club in 2015. Paytm’s valuation was over $7 Billion, and it has now increased to
$16 Billion in 2020.

History
Paytm was created in August 2010 in Noida, India's capital city, with an initial
investment of US$2 million by its founder Vijay Shekhar Sharma. It began as a
prepaid mobile and DTH recharge platform, but in 2013 it expanded to include data
cards, postpaid mobile, and landline bill payments.
The Paytm Wallet was released in January 2014, and Indian Railways and Uber
integrated it as a payment option. With online bargains and bus ticketing, it forayed
into e-commerce. Education fees, metro recharges, energy, gas, and water bill
payments were included in 2015.
In 2016, it added ticketing for movies, events, and amusement parks, as well as
airline bookings and PaytmQR. Later that year, it added rail reservations and gift
cards to its offerings.
The number of people using Paytm increased from 11.8 million in August 2014 to
104 million in August 2015.
It was the first payment app in India to reach 100 million downloads in 2017.
PaytmGold, a product that allows people to buy as little as 1 gramme of pure gold
online, was introduced the same year. Paytm Payments Bank and ‘Inbox,' a
messaging application enabling in-chat payments, were also introduced.
It began letting merchants to take 0 percent Paytm, UPI, and card payments directly
into their bank accounts in 2018. It also released the ‘Paytm for Business' software,
which allows merchants to track payments and settlements on a daily basis. By
March 2018, its merchant base will have surpassed 7 million.
Paytm Gold Savings Plan and Gold Gifting, two new wealth management products,
were offered for long-term savings.
In January 2018, it formed a joint venture with AGTech Holdings, a gaming
company owned by Alibaba Group, to develop Gamepind, a mobile gaming
platform.
Paytm Money was launched in March 2018 with a 9 crore investment for investing
and wealth management.
In March 2019, the company introduced PaytmFirst, a subscription-based loyalty
programme, and in May, it teamed with Citibank to offer the Paytm First credit card.
In June 2019, it was renamed Paytm First Games.
During the COVID-19 pandemic, Tata Starbucks joined with Paytm in July 2020,
allowing customers to order food online.
One97 Communications Ltd., which owns the Paytm brand, submitted a draught
document with the market regulator Securities and Exchange Board of India (SEBI)
in July 2021 for an initial public offering (IPO) for up to Rs 16,600 crore. A total of
8,300 additional shares will be issued as part of the IPO.

Funding and Shareholders of Paytm

Sapphire Ventures (formerly SAP Ventures) invested $10 million in One97

Communications Ltd in October 2011.
In March 2015, Paytm gained a significant investment from Alibaba Group, a
Chinese e-commerce business, after Ant Financial Services Group, an Alibaba
Group affiliate, purchased 40% of Paytm stock as part of a strategic partnership.
Ratan Tata, the MD of Tata Sons, backed it up shortly after.
Paytm raised $5 billion in capital from Mountain Capital, one of Taiwan-based
MediaTek's investment vehicles, in August 2016.
Paytm received its largest round of investment from a single investor — SoftBank –
in May 2017, valuing the company at $10 billion. Berkshire Hathaway invested $356
million in Paytm in August 2018, while Warren Buffett was not involved in the
transaction, according to Berkshire Hathaway.
Paytm raised $1 billion in a fundraising round led by T Rowe Price, along with
previous investors Ant Financial and SoftBank Vision Fund, on November 25, 2019.
In 2021, according to times of India Paytm shareholders include Alibaba's Ant
Group (29.71 per cent), Softbank Vision Fund (19.63 per cent), SAIF Partners (18.56
per cent). and Vijay Shekhar Sharma (14.67 per cent).
International Expansion

·Paytm set its foot in the international market for the first time in Canada, on 16
March 2017.
·On 22 October 2018, Paytm entered Japanese finTech market and introduced
‘Paypay’ with SoftBank and Yahoo Japan.

Sponsorship

In July 2015, One97 Communications, the firm that owns the brand Paytm,
acquired the title sponsorship rights for India’s domestic and international cricket
matches at home for a period of four years starting in August 2015.The rights
include sponsor branding of series with the title sponsor logo, designation as the
title sponsor of the series, visibility at the stadium, and broadcast sponsorship
rights. This also includes all BCCI domestic (Ranji Trophy, Duleep Trophy, etc.)
matches in India.
Paytm has already obtained sponsorship rights for the Indian Premier League's
eighth season. It was also an associate sponsor on Sony TV and an official partner
of the Indian Premier League's Mumbai Indians. Paytm was named the IPL's
Umpire Partner for the next five years in March 2018.

Paytm Payment Bank

Paytm got a license from the Reserve Bank of India in August 2015 to establish the
Paytm Payments Bank as a separate organisation. Founder Vijay Shekhar Sharma
will own 51% of the company, One97 Communications will own 39%, and a
subsidiary of One97 and Sharma will own 10%. In November 2017, the bank was
formally established.
By the end of 2018, it planned to open over a million banking locations across
India. The bank's branches, on the other hand, have yet to reach double digits.
Paytm Controversies

California-based On November 18, 2016, PayPal filed a complaint with the Indian
trademark authority against Paytm for utilising a logo with a similar colour scheme
to its own.
In May 2018, the Indian investigative news agency Cobrapost released a video of an
undercover reporter meeting with Paytm’s vice president, Ajay Shekhar Sharma who
is the brother of Vijay ShekharSharma.During the meeting, he reportedly said the
company had provided the Indian Government with the personal data of Paytm users
in the Indian state of Jammu and Kashmir, violating user’s privacy and
policies.Later, Buzzfeed reported that, Sharma has close ties with India’s ruling party
Bhartiya Janata Party.Meanwhile, in response, the company tweeted that, it had
never shared user’s data with third parties, denied the contents in the video, and
stated that it had never received requests from law enforcement on Twitter. Paytm
also stated that any person claiming otherwise “is not aware of the policy and is not
authorised to speak on behalf of the company”.

Paytm has filed a lawsuit in the Delhi High Court alleging that Indian telecom firms
are not blocking numbers used for phishing activities.
On 18 September 2020, the firmsofficial app was briefly unlisted from the Google
Play Store allegedly due to violations of the Play Store’s gambling policy. The
company claimed that Google did not offer any prior warning or give the company
an opportunity to explain its views on the contentious ‘cashback’ offers while
claiming that Google’s own payments app Google Pay offered similar ‘cashback’
offers and suffered no repercussions.

Donations

During the COVID-19 pandemic in India, Paytm donated ten rupees to every user
who donated to the PM CARES fund through their app; after ten days, they had
amassed a total of one hundred rupees in their app. Their 1,200 employees each
contributed 15 days' pay or perhaps a few months' pay to the fund. Paytm made
21,000 oxygen concentrators available to people in need through their platform, and
gave oxygen plants to hospitals in 13 of the worst-affected cities.
 Financials of Paytm One 97 Communication Unlisted Shares

Financial Results of Paytm Unlisted Share in 2021

1. Due to a slowdown in business activity during the pandemic, revenue fell

from 3281 crores in FY20 to 2803 crores in FY21.

2. Paytm has done an outstanding job of decreasing marketing expenses from

1400 crores last year to 500 crores this year. The total costs have also
decreased by 200 crores.

3. PAT and EPS remain negative since expenses continue to exceed revenues.

4. Paytm is debt free company as it has raised most of the money required for
operation from Equity.

Valuation of Paytm Unlisted Share

As on 31.03.2021, , the issued and equity shares of Paytm are 604,824,04.

As per news published in the media that Paytm is looking for an IPO at
valuation of $25 Billion dollar. This will translate into Mcap of 1,87,500
Crores.
As per above, per share value comes out to be = Rs. ~31000
BJYU’S

Byju's is a Bangalore-based Indian multinational educational technology

corporation. Bjyu's journey to become a Unicorn took seven years.

History:
Think and Learn Pvt. Ltd, founded by Byju Raveendran and Divya Gokulnath in
2011, developed Byju's app. Raveendran, a skilled engineer, began tutoring pupils in
2006 to help them pass math tests. With the support of his students, he and his wife
launched an educational organisation in 2011 that offers online video-based learning
programmes for K-12 kids as well as competitive exams. Think and Learn first
appeared in the Deloitte Technology Fast 50 India and Deloitte Technology Fast 500
Asia Pacific rankings in 2012, and has been there since.
After four years of development, the company debuted Byju's: The Learning App in
August 2015. Think and Learn released Byju's Math App for Kids and Byju's Parent
Connect app for parents to track their child's learning progress in 2017. It had 1.5
crores (15 million) premium customers and 900,000 free users by 2018. Byju's
obtained the sponsorship rights for the Indian cricket team's shirt in July 2019,
replacing Oppo as the previous sponsor. Byju's brand spokespeople are Mohanlal
and Shah Rukh Khan.
The Advertising Standards Council of India (ASCI) instructed Byju's subsidiary
WhiteHat Jr. to remove five TV advertising because they were misleading. For its
social media marketing, WhiteHat Jr. invented a fake figure dubbed "Wolf Gupta,"
without disclosing that he was only a character.
They stated he was between the ages of 6 and 14 when he received employment
offers of crores in multiple advertisements.

TutorVista Global Private Limited (acquired by BYJU'S) was an educational

company based in the United States that specialised in online tutoring. Voice over
Internet Protocol (VoIP) telephony, session recording, instant messaging, file
sharing, and an interactive whiteboard were all utilised. The organisation primarily
provided academic assistance to students in topics such as English, Mathematics,
Statistics, and Science through paid subscriptions.
TutorVista's operations were solely based in India, while the majority of their market
was located outside of the country. Students in India, the United States, the United
Kingdom, Australia, China, the Middle East, and Southeast Asia were able to
connect with roughly 2,000 teachers using TutorVista's online tutorial platform.
Krishnan Ganesh and Meena Ganesh established TutorVista in 2005. Srinivas
Anumolu, Louise Kumar, and Ravi Kannan were among the others who contributed
to the establishment. TutorVista received a $10 million investment from Sequoia
Capital India and Lightspeed Venture Partners in 2006. In 2007, the company
acquired Edurite, an educational firm, and in 2009, it formed a collaboration with
American Book Company.
Pearson boosted its smaller holding in TutorVista to a 76 percent majority stake for
$127 million in 2011, and fully purchased it in 2013 by purchasing the remaining
20% stake.
 Krishnan Ganesh and Meena Ganesh resigned from all managerial positions in the
Bangalore-based company at this point, and Srikanth Iyer was named the new CEO.
According to The Economist, the company's main challenge is gaining confidence
for an unknown Indian brand. In the United States, there have also been various
protests against groups that do not offer face-to-face and personalised instruction.
Officials and parents from both local and national organisations have conflicting
feelings about the trend's ethical and practical ramifications. One in every four kids
in the United Kingdom is now tutored outside of school, with offshore tutoring
organisations quickly joining the market.

Products and Services:

Byju's is a freemium education tutoring software that offers free access to
information for 15 days after enrolment. It first opened its doors in August 2015,
with instructional content for kids in grades 4 through 12, and in 2019, an early
learning programme for grades 1 through 3 was created. It also prepares students for
national exams like IIT-JEE, NEET, CAT, and IAS, as well as international exams
like GRE and GMAT.
12–20-minute computer animation videos are used to illustrate academic courses
and concepts. Byju's claims to have a total user base of 4 crore (40 million), 30 lakh
(3 million) annual paying customers, and an annual retention rate of around 85%.
The company announced in 2019 that its app would be available in regional Indian
languages. It also planned to release an international version of the programme for
students from other countries who speak English. Byju's has recently added new
activities to its Early Learn App for kindergarten children. The company also
announced the creation of "BYJU'S Future School" in April 2021, which would be
led by WhiteHat Jr Founder Karan Bajaj. Through storytelling, The Future School
aspires to bridge the gap between passive and active learning through an interactive
learning platform that incorporates coding as well as other topics such as Math,
Science, English, Music, and Fine Arts. In May, BYJU'S will debut the Future
School in the United States, the United Kingdom, Australia, Brazil, Indonesia, and
Mexico.
Acquisitions:

In July 2017, Pearson sold TutorVista (which included Edurite) to Think and
Learn.
In January 2019, Byju's paid $120 million for Osmo, a maker of educational
games for children aged 3–8 years based in the United States.
Byju's also acquired Indian start-up WhiteHat Jr for $300 million.
LabInApp, a virtual labs simulation start-up, was bought by Byju's in September
2020.
Byju's bought Mumbai-based doubt-clearing platform Scholr in February 2021.
In April 2021, Byju's paid $950 million in cash and equity for Aakash
Educational Services Ltd., a test prep company. As part of the arrangement, the
founders of Aakash and Blackstone Group will get minority holdings in Byju's.
In July 2021, Byju's paid $500 million in cash and equity for the US-based kids
learning platform Epic. Byju's entrance into the global market, where it forecasts
annual revenue of $300 million each financial year, included the Epic
acquisition.
In July 2021, Byju's paid $600 million for Singapore-based higher education
platform Great Learning and after-school learning app Toppr.
Fundings and Financials:
Aarin Capital provided seed money to Byju's in 2013.
As of March 2018, Byju's was valued at $6,505 crore ($1 billion) according to
corporate records with the Ministry of Corporate Affairs.

LET'S CONTINUE TO PAVE THE WAY FOR THE FUTURE GENERATIONS.

Byju's achieved decacorn status in June 2020, thanks to an investment from
Mary Meeker's Bond Capital.
Byju's will take over as the title sponsor of India's national cricket team
from Oppo in September 2020.
Byju's runs on a premium business model, with most of the material
requiring a paid subscription. Byju's earned around 260 crore (US$40
million or €33 million) in revenue in 2017 and more than quadrupled it in
the 2018 financial year, earning 520 crores.
With the investment of Bond, a global technology investment business,
Byju's became a decacorn in June 2020, valued at US$10.5 billion.
In November 2020, Byju's replaced Muthoot Group as the title sponsor of
Kerala Blasters FC in the Indian Super League.
Byju's raised US$200 million in a new investment round led by BlackRock
and T. Rowe Price in November 2020, valuing the company at $12 billion.
Byju's received $460 million in a series F fundraising round in March
2021.
B Capital, Baron Funds, and XN invested $1 billion in Byju's in April
2021.
COINDCX

The First Crypto Unicorn of India

CoinDCX was launched in April 2018 with the goal of providing a user-friendly
environment where users may access a wide range of financial products and
services, all of which are backed by industry-leading security and insurance
protection.

CoinDCX is ISO-certified and offers one of the quickest onboarding process in

the industry. CoinDCX, just like many other crypto exchange platforms, Makes
money Via deposit fees, withdrawals, trading commissions, and listing fees.

CoinDCX promises to have one of the fastest onboarding processes in the

business, claiming that the KYC and bank account verification processes may
be completed in under 5 minutes. Trading and cryptocurrency withdrawal fees
are extremely low. In addition, the exchange offers near-instant deposit and
withdrawal options.

Since This is a comparitively new field in the Indian business scene, the
competition is varied and the market share is volatile. The major players
alongside CoinDCX are WazirX, UnoCoin and CoinSwitch Kuber. There are a
lot of other smaller crypto exchanges.

WazirX has almost Double the userbase of CoinDCX. This is primarily due to
aggressive advertisement on part of WazirX.
How It Started

Sumit Gupta, the CEO and co-founder of

Mumbai-based cryptocurrency exchange
CoinDCX, was ecstatic to launch his
company in 2018. In April 2018, Sumit
and his long-time college friend Neeraj
Khandelwal everything in order,which
included pooling in their savings to make
up 90% of the required capital in order to
lauch Coindcx.

Sometime after this initial setback, an

investment firm Bain Capital of USA gave
CoinDCX the funding to play in the field
of cryptocurrency. During that time, with
uncertainity of cryptocurrency’s future in
India and a question mark over its legality,
it was a gamble. And now in the long run
seems like this gamble is paying off.

On Aug. 10, CoinDcx claimed that it

raised 90 million USD in a Series C
funding round from a multiple
international investors, which were valued
at 1.1 billion USD, making it the latest
Indian tech unicorn venture. Following
were the investors in the round : Coinbase
Ventures , Block.one , Jump Capital,
Facebook co-founder Eduardo Saverin’s B
Capital Group and Polychain Capital,etc.

For CoinDCX,in the last 15 months its

user base grew from 150k to 400k
investors on its exchange platform.
Challenges

After CoinDCX was launched in 2018, in the same year the Reserve Bank of
India (RBI) put a banking ban on transactions for cryptocurrency, which
resulted in shutdown of many companies in the crypto industry. They were one
of the players who decided to contest the move of the banking regulators in the
court.

Ultimately, in March 2020, the Supreme Court of India invalidated the banking
ban put by RBI. The decision lifted the morale of the cryptocurrency market
and community in the country. After that, several currencies have witnessed an
80 percent growth in value and crypto market is in the bull run. When global
giants like Visa, JP Morgan, Tesla, and PayPal all gave the crypto business
their seal of approval, their value skyrocketed. All this growth helped,
CoinDCX, to reach a stagering trading value of more than $1.5 billion per
month.
Competitors

CoinDCX has the maxzimum number of coins available on its platform.

WazirX has the highest number of Crypto Transactions.

Future Plan

Recently, all sorts of investors have shown a great interest in

cryptocurrencies,especially the younger generation for many reasons reasons: ease
of trade, ease of transferability, and high returns in less time. 75% of the total
investor base with CoinDcx belongs to the age group of 20 to 34 years.
CoinDCX is preparing to launch the CoinDCX Prime project, its next offering in the
high net worth person and enterprise arena, which will provide legally validated and
safe investments, as well as Cosmex is expected to supply one-third of worldwide
liquidity as well as seamless crypto-to-crypto trading. For example, an investor can
buy a Ada Cardano by selling bitcoin.

In a recent interview the CEO Sumit Gupta said, "We will be joining hands or
entering into partnerships with key fintech players to expand our crypto investor
base, set up a R&D facility, strengthening the policy conversations through public
discourse, working with the government to introduce favourable regulations,
education, and amping up the hiring initiatives."

In Conclusion, Trading in Cryptocurrency has gone up in the last 2 years. This is

because a large volume of traders prefer volatile assets compared to slower moving
equity. Cryptocurrency is still viewed as an alternate investment in the large part.
Investors generally do not go for highly volatile assets.
The recognition of cryptocurrency as valid tender still seems dubious as most
governments like to track movement of currency from user to user. This is the
biggest obstacle in the crypto platform’s path. This however will not hamper the
growth of CoinDCX.
GROFERS

Grofers is an online grocery delivery business based in India. It is

located in Gurgaon and was formed in December 2013. Softbank, Tiger
Global, and Sequoia Capital were among the investors who contributed
$535.5 million to the firm in 2018.

History

Grofers was created in 2013 by Albinder Dhindsa and Saurabh Kumar. They
partnered up to enter the supermarket delivery industry after meeting each
other while working at Cambridge Systematics in the late 2010s. Their
objective was to address the issues (both on the client and merchant end)
caused by the disorganised nature of the industry. Grofers began in the Delhi
NCR area before expanding to other Indian cities. Grofers primarily delivered
groceries, fresh fruits and vegetables, mobiles and accessories, kitchenware,
books, home and office requirements, bakery goods, pet care, infant care and
personal care products, electronics, flowers, and other items in the early days.
The company has evolved into a platform that connects customers searching
for everyday necessities with partners that can meet their requirements and
manufacturers looking for a way to reach consumers. All of this is
accomplished using their own technological stack.
Products and Services

Grofers is a mobile e-commerce platform that allows customers to purchase for

groceries, fruits and vegetables, cosmetics, gadgets, and other everyday
necessities online and have them delivered. It has become one of the go to
place for all your grocery needs. It sells fresh fruit, pet care goods, bread items,
meats, flowers, sports equipment, home items, and infant care items, among
other things.

Acquisitions

There were many press stories in April 2020 about Zomato's interest in
purchasing Grofers. There were reportedly negotiations between these
Gurugram-based start-ups.On June 29, 2021, Zomato agreed to invest roughly
$120 million in Grofers in exchange for a 9.3 percent interest in the online
grocery retailer. On June 29, the firm became a unicorn, with a valuation of
over $1 billion dollars, after successfully obtaining money from Zomato.
Funding and Financials

Grofers has raised a total of $782.4 million in 15 rounds of financing. Their

most recent round of investment was a Venture - Series Unknown round on
June 29, 2021.
Grofers is backed by a group of 15 investors. The most recent investors
include Zomato and Tiger Global Management.
Grofers has bought two businesses. Townrush was their most recent purchase,
which occurred on October 27, 2015.

It can be seen that there is continuous flow of funding from different sources
throughout. Initially the capital raised was less as it is for most unicorns but it
picked up the pace steadily and more investors got attracted.
It is unclear how much Grofers has grown in the past year since the shutdown
went into effect. Grofers' revenue growth is likely to continue in FY21, given
that online grocery shops had an increase in new consumers during the Covid-
19 shutdown last year, when basics delivery through ecommerce start-ups was
allowed.

The company's losses in FY19 climbed by 73.44 percent year on year to Rs 448
crore, while sales jumped by 135.13%. According to data obtained from Tofler,
revenue from operations was Rs 29.83 crore in FY18 and grew to Rs 70.14
crore in FY19. It was last valued at approximately $650 million in December,
thanks to SoftBank Vision Fund financing. Grofers told PTI that it sent 4.4
crore goods in June with a 99.7% accuracy rate and claimed to have served 42
lakh households by the end of May. There has been a 40% increase in basket
size compared to pre-Covid levels, and there are 64% first-time online grocery
customers and 15% first-time online consumers. During the shutdown, the
business opened three new facilities, with two more set to open in Bhiwadi and
Lucknow. Grofers now has 10,000 partner retailers and has employed over
3,000 supply chain professionals, with plans to hire 2,000 warehouse and
delivery staff in the coming months.
IPO Plans

Grofers had pushed back its IPO date due to Covid and the subsequent
shutdown. Rather than waiting until 2022 to go public, the firm, which
competes with BigBasket, Amazon Pantry, Flipkart Supermart, and the fast-
growing JioMart, has announced it will seek a listing by the end of next year,
according to PTI. Softbank-backed Grofers' intention to conduct an initial
public offering by the end of next year has been pushed up after the company's
profitability skyrocketed during the lockdown period. The company started
making operational profit in January and expects to become cash positive by
the end of this year. As Covid hit India in February and the government
imposed a nationwide lockdown on March 25, the digital grocery industry
emerged as one of the major beneficiaries during the period.
Grofers Work Culture

"Stand, sit, lie down - work however you like, but just make sure you deliver,"
says the company's culture. Grofers is constantly seeking for talented
individuals to join their team. The work culture is like any other startup. Your
performance is not measured by the hours of work you do but the value you
add. Like every startup they pay you good but expect decent work in return.
The upper management is open to ideas and the DAM and AM have freedom to
explore new ideas.

Conclusion

Overall it can be said that Grofers is a sound financial firm with a few issues
here and there like every other unicorn. Slowly and steadily the company is
being recognized more and more and the customer base is improving with time.
It did take time to make a name for itself at the start but has slowly surfaced in
every prospective customers mind whenever they intend on shopping for
groceries. The Covid-19 pandemic hit the industry like it did to almost all of
the other industries which resulted in initial losses but this also transformed
into an opportunity for the firm as its only running source was in online mode.
This came as a blessing in disguise for Grofers and their profits started to
increase. Grofers has surely established its name as a successful Indian
Unicorn and it intends on continue growing and satisfying customer needs.
NYKAA

Nykaa is an Indian company that majorly operates as e-commerce, which was

founded by Falguni Nayar in 2012 and is headquartered in Mumbai. In her
previous role, Falguni Nayar was the MD of the Indian investment bank Kotak
Mahindra Capital.
Today, she’s one of the wealthiest female entrepreneurs in the country. It sells
wellness, beauty, and fashion products across websites, mobile apps, and
several offline stores. It is a unicorn start-up and as of 2020, was valued at ₹85
billion (US$1. 2 billion).
It sells products that are predominantly manufactured in India and also
internationally. In the year 2015, the company expanded from an online-only
mode to an Omnichannel model and began selling products that were different
from the beauty product.

It retails over 2,000 brands & 200,000 products across its platforms as of the
year 2020. Mumbai-based online beauty now Omnichannel company, Nykaa
was considered as one of the underdogs in the country.
The brand Nyka gets its name derived from a Sanskrit word - "Nayaka" which
means "one in the spotlight". In 2018, the company launched a new campaign
called Nykaa man which was India's first multi-brand online store for men
grooming products. The company diversified with the launch of Nykaa Design
Studio, which was later renamed Nykaa Fashion.
In 2020, Nykaa launched Nykaa PRO. It is a premium membership
subscription that facilitates users with special access to professional beauty
products and offers through the Nykaa App.

In Dec 2020, Nykaa Fashion launched its first-ever physical store in Delhi
which made the fashion business Omni-channel.
Since its launch in 2012, the company has won through many challenges and
managed to consistently follow the path of success.
Just before the pandemic struck the country Nykaa claimed profitability for
fiscal FY19. During the lockdown period, the company started delivering
essentials to more than 10,000 pin-codes across the country.
Operations and Services

Nykaa follows an inventory-based system and its warehouses are located in various
regions of the country like Mumbai, New Delhi, Pune, Haryana, Kolkata, and
Bangalore. As of 2020 in addition to its primary online business, it has an offline
presence in over76 brick-and-mortar stores across the country. The company claims
to have over 200,000 products across 2,000 brands.
It has three offline stores called Nykaa Luxe, Nykaa on Trend, and Nykaa beauty
Kiosks. Their app features international luxury beauty brands such as Huda Beauty,
MAC, and Dior, etc. along with Nykaa Beauty's in-house collection products. Nykaa
is the sole retailer to many international brands like Charlotte Tilbury, Becca, Sigma,
Limecrime, Murad, and many more. Which enables it to sell those brands within the
country.

The platform follows an inventory-led model also has a private label in the cosmetics
and personal care segment of products. It also offers an interactive beauty forum
where subscribers could chat with each other using the newly launched Nykaa
Network.

Initially, the focus area of Nyka was on personal care products like makeup, skincare,
etc., but down the line, it has stretched itself to cover an uncovered segment of
apparel, handbags, footwear, gadgets, and jewelry. Nykaa recently has also launched
a platform named Nykaa Design Studio for designer and premium apparel brands
like Ritu Kumar and Masaba.
Back to back it also covered the men grooming segment by launching NykaaMan,
which covered the men grooming products range such as hair care, skincare,
wellness, and sports nutrition, among others. It also acquired members-only platform
20Dresses which fuelled a boost to its growth.

Nykaa has no direct domestic competitors as of now, but online giants such as
Amazon and Flipkart are increasing their inventory of personal-care products which
gives them a stirring competition. I addition to this, the retail chains giants of the
country such as Shopper Stop or Pantaloons shifting to an online interface also gives
an intense competition
Nykaa had the first-mover advantage and it has advanced their game – from products
delivery and customer service to continue dominating the market.
For example: Expanding to other products apart from beauty has its own gains and
losses. Nyka managed to enter the apparel competition with the giants such as
Myntra and amazon but the area where they failed was the delivery time of the
products.
Where Amazon and Myntra took 1-2 days to deliver Nyka took 4-5 days on average
for the delivery off the same. On the other hand, the positives aspect included
creating a wider reach and simple platform for the consumers as they can find all the
things in a single place.

Nykaa is an Indian company that majorly operates as e-commerce, which was

founded by Falguni Nayar in 2012 and is headquartered in Mumbai. In her previous
role, Falguni Nayar was the MD of the Indian investment bank Kotak Mahindra
Capital.
Today, she’s one of the wealthiest female entrepreneurs in the country. It sells
wellness, beauty, and fashion products across websites, mobile apps, and several
offline stores. It is a unicorn start-up and as of 2020, was valued at ₹85 billion
(US$1. 2 billion).
It sells products that are predominantly manufactured in India and also
internationally. In the year 2015, the company expanded from an online-only model
to an Omnichannel model and began selling products that were different from the
beauty product.
It retails over 2,000 brands & 200,000 products across its platforms as of the year
2020.Mumbai-based online beauty now Omnichannel Company Nykaa was
considered as one of the underdogs in the country.
The brand Nyka gets its name derived from a Sanskrit word - "Nayaka" which means
"one in the spotlight". In 2018, the company launched a new campaign called Nykaa
man which was India's first multi-brand online store for men grooming products. The
company diversified with the launch of Nykaa Design Studio, which was later
renamed Nykaa Fashion.
In 2020, Nykaa launched Nykaa PRO. It is a premium membership subscription that
facilitates users with special access to professional beauty products and offers
through the Nykaa App. In Dec 2020, Nykaa Fashion launched its first-ever physical
store in Delhi which made the fashion business Omni-channel.
Since its launch in 2012, the company has won through many challenges and
managed to consistently follow the path of success.
Just before the pandemic struck the country Nykaa claimed profitability for fiscal
FY19. During the lockdown period, the company started delivering essentials to
more than 10,000 pin-codes across the country.
However, Nykaa does not only target upper-class people, unlike a few notable
brands. One can find products ranging from a minimum of ₹60 to ₹10000. It targets
people across all the spectrums – from middle-class people to the highest ever class
that exists.
Below are the statistics of Nykaa's website comparison to Sephora (a French retailer
that specializes in beauty and personal care products. Louis Vuitton acquired Sephora

Comparison between Nykaa and Sephora

(Source: https://www.similarweb.com/website/nykaa.com/

As it is evident to us that the Indian market is enthusiastic about beauty and skincare
products from the numbers of Nykaa. If we compare the usability of Nykaa and its
various platforms to Amazon India which was established in June 2013, nearly to the
launch of Nykaa or Myntra which was established in 2008, way almost half a decade
before Nykaa which is now acquired by Flipkart, which happens to have over 100+
million monthly visits, Nykaa has proven its ability to retain and gain customers.

Yet, Nykaa is still in an infant stage as compared to the parent organizations of the
above two i.e. Amazon.com and Flipkart which are two E-commerce giants whereas
Nykaa is a standalone company. The pace with which it is growing, shows a great
potential in the future
Financials
The online beauty and fashion giant- Nykaa plans to raise $500 million through its
initial public offering (IPO), a source with direct knowledge of the same has told
Reuters (an international news agency that provides business, investment, financial,
etc. news to professionals), becoming the latest home-grown start-up to pursue a
listing on the domestic bourses (a stock market in a non-English-speaking country,
especially France.)

Private equity firm TPG - which earlier was called Texas Pacific Group, is an
American Investment company. This firm focuses on leveraged buyouts and growth
capital. It also shows its presence in growth capital, venture capital, public equity,
and debt investments, etc.

TPG has an eye for such start-ups which certainly emerge as unicorns in the time
ahead. To date, TPG has invested in Lenskart, BookMyShow, Livespace, etc.
TPG has also backed Nykaa, based in Mumbai, sells cosmetics, grooming products,
and clothes which has enabled Nyka to raise Rs. 100 crores.

Nykaa, was formally known as FSN E-Commerce Ventures Ltd, hinted that its IPO
will consist of a fresh issue of shares of up to ₹ 525 crores and an offer for sale of up
to 4.31 crore shares, according to a copy of its draft red herring prospectus dated
August 2021.
It is said that ₹ 525 Crore will come from fresh shares issued to investors whereas
the rest will come from existing shareholders.
House of Brands
Nykaa has a series of in-house brands in the beauty and fashion range. Some of them
include:
• Nykaa’s House of Brands include - Nykaa Naturals, Nykaa Cosmetics, Kay Beauty
• Nykaa Fashion - Nykd by Nykaa, RSVP, Pipa Bella, Mondano, 20 Dresses, Likha,

Nykaa launched its in-house beauty products collection via Nykaa Cosmetics and
later inflated it across categories of Eyes, Nails, Face, and Lips in the year 2015.

Nykaa Naturals is a collection of skincare and personal care products. In the year
2019, the brand launched its Wanderlust Bath & Body collection and later in the
year introduced a beauty line with the iconic designer Masaba Gupta, Masaba by
Nykaa.

Partnerships and Acquisitions

Nykaa acquired 20Dresses.com, a successful women’s styling platform in the year
2019. Also in the same year, it launched its first celebrity partnership brand, Kay
Beauty which is owned by actress Katrina Kaif.

Timeline of Nykaa
2012 – Launched as an online marketplace for beauty and wellness products.
2014 - JUL| raised $1 million/seed from Sequoia Capital India
2015- OCT| raised $9.5 million/Series B from Atul Nishar and other investors
2016- SEP| raised Rs 100 Crore series C from Harsh Mariwala and other investors
2018- APR| raised Rs 750 Crore/series D from Dilip Pathak and other investors
2019
MAR| acquired fashion styling and e-commerce platform 20 Dresses
MAR| raised $14 million from Singapore- based TPG Growth IV SF
SEP | founder winds ET Businesswoman of the year award
DEC | raised $30 million/secondary market from Steadview Capital
DEC | claimed profitability for FY19
2020
MAR| raised Rs 100 Crore/series F from SteadView capital
MAY| gained unicorn status with Rs. 67 Crore/Series F funding
JUL| launched home and travel essentials
OCT| raised an undisclosed amount/secondary market from Alia Bhat and Katrina
Kaif
NOV| raised funding from Fidelity management
TIME TO UNICORN: 8 YEARS
ZOMATO

Zomato is an online eatery search site began by Deepinder Goyal in 2008. It

works in the entirety of the significant urban areas of India and is quite
possibly the most visited sites in India. It totals eateries on its site and
application and gets incomes from publicizing, counseling and orders set to
cafés through uncommon numbers given on its site. It is available in excess of
20 nations and has data on in excess of 1,000,000 cafés. It will before long be
offering another food conveyance administration that permits clients to put
orders on Zomato's site. As a piece of this new help, Zomato will assume the
liability of gathering the request from the eatery and conveying it to the client.
In the U.S., Zomato obtained Urbanspoon from IAC in January 2015. The
organization raised 60 million dollars at its latest financing round and is right
now esteemed at around US$1 billion.

India's leading food delivery company Zomato made a stellar debut on Dalal
Street on July 23 as the stock opened at Rs 116 on the NSE, a 52.63 percent
premium to its final offer price of Rs 76. The listing price on the Bombay
Stock Exchange was at Rs 115, up 51.32 percent.

Key Leadership

Deepinder Goyal is the originator and chief of

Zomato. He drives item improvement alongside
managing procedure and business development.
Preceding establishing Zomato in 2008, Deepinder
functioned as an administration specialist with Bain
and Company. He holds a coordinated graduate degree
of innovation in math and processing from the Indian
Institute of Technology, Delhi.
 Gaurav Gupta is prime supporter and head of supply
at Zomato. GG, as he is famously known, has been
instrumental in building numerous organizations like
feasting out, zomato ace, promoting, deals, and table
reservations. Before joining Zomato, he worked with
A.T. Kearney originator at Zomato. Before joining
Zomato, he worked with A.T. Kearney Limited for
more than 10 years. Gaurav holds a science certificate
from IIT-Delhi and a MBA from IIM-Calcutta.

Mohit Gupta is the fellow benefactor and presently

the head of new organizations at Zomato. He joined
Zomato in 2018 to lead the food conveyance business
and was raised to the situation of an organizer in
2020.Preceding joining Zomato, Mohit worked for
more than 19 years in various jobs with Pepsi Co.
furthermore, MakeMyTrip Ltd. Mohit holds an
unhitched male's in mechanical designing from Sardar
Patel University and a PGDM from IIM-Calcutta.

IPO

Zomato IPO has an issue size of Rs 9,375 crore. The first sale of stock
contains new issue of offers up to Rs 9,000 crore, and make available for
purchase (OFS) up to Rs 375 crore.
Zomato IPO was bought in 38.35 occasions. The first sale of stock was
bought in 51.79 occasions in QIB classification, 32.96 occasions in NII
class, 7.45 occasions in RII class, 0.62 occasions in Employee segment.
Zomato IPO has an assumed worth of Rs 1 for each value share.
Zomato IPO share cost is Rs 72 to Rs 76 for every value share.
Zomato made a heavenly presentation on Dalal Street on July 23 as the
stock opened at Rs 116 on the NSE, a 52.63 percent premium to its last
offer cost of Rs 76.
Zomato raised ₹4,196 crore from anchor financial backers in front of IPO
Investments
Between 2010 and 2013, Zomato raised roughly US$16.7 million from
Info Edge India, giving Info Edge India a 57.9% stake in Zomato. In
November 2013, it raised an extra US$37 million from Sequoia Capital
and Info Edge India.
In November 2014, Zomato finished another round of subsidizing of
US$60 million at a post-cash valuation of ~US$660 million. This round of
financing was being driven together by Info Edge India and Vy Capital,
with cooperation from Sequoia Capital.
While in April 2015, Info Edge India, Vy Capital and Sequoia Capital
drove another round of subsidizing for US$50 million. This was trailed by
another US$60 million financing drove by Temasek, a Singapore
government-possessed venture organization, alongside Vy Capital in
September.
In October 2018, Zomato raised $210 million from Alibaba's installment
associate Ant Financial. Insect Financial got a proprietorship stake of more
than 10% of the organization as a feature of the round, which esteemed
Zomato at around $2 billion. Zomato had likewise raised an extra $150
million additionally from Ant Financial prior in 2018.
In September 2020, Zomato raised $62 million from Temasek, after
recently dedicated state house from Ant Financial won't ever come
through.
In October 2020, as a component of a Series J round of subsidizing,
Zomato raised $52 million from Kora, a US-based Investment firm.
In February 2021, Zomato raised US$250 million from five financial
backers, including Tiger Global Management, at a valuation of US$5.4
billion.

Acquisitions
In July 2014, Zomato made its first procurement by purchasing Menu-
madness for an undisclosed sum.
The organization sought after different acquisitions including lunchtime.cz
and obedovat.sk for a joined US$3.25 million.
·In September 2014, Zomato obtained Poland-based café search
administration Gastronauci for an undisclosed sum.
In December 2014, it procured Italian eatery search administration
Cibando.
Zomato likewise procured Seattle-based food gateway, Urbanspoon, for an
expected $60 million in 2015.
 Other acquisitions of 2015 remember Mekanist for an all-cash deal, the
Delhi-based startup MapleGraph that constructed MaplePOS (renamed
Zomato Base), and NexTable, a US-based table reservation and café the
executives platform.
In 2016, the organization procured Sparse Labs, a coordinations innovation
startup, and the food conveyance startup, Runnr, in 2017 (renamed from
Roadrunnr when it gained TinyOwl in 2016).
In September 2018, Zomato procured Bengaluru-based food e-commercial
center, TongueStun Food, for about $18 million in a money and stock deal.
In December 2018, Zomato procured Lucknow-based startup, TechEagle
Innovations, that works only on rambles, for an undisclosed amount.
Zomato guaranteed that the obtaining will assist with making ready
towards drone-based food conveyance in India, building innovation
focused on a center to-center point conveyance network.
On 21 January 2020, Zomato procured its opponent Uber Eats' business in
India in an all stock arrangement, giving Uber Eats 10% of the
consolidated business.
On 29 June 2021, Zomato marked an arrangement with Grofers to put
almost $120 Million in the online staple firm by procuring 9.3% stakes of
the organization.

Business Performance

Over the most recent a half year, we had put two brassy objectives in front of
us, and worked our methodology and execution in reverse from that point. We
said we will go for market administration, and all the while steer the business
towards a more feasible P&L.
Revenue in the first six months of FY2020 has exceeded our last year’s (like
to like) annual revenue.
Loss – our monthly burn rate is down to 60% of what it was six months ago.
We achieved tremendous results in optimising our costs, without affecting
new product launches or innovation.

Food Delivery

The food conveyance business shocks us consistently. Each time that we think
we have arrived at another pinnacle, we find one more one to prevail. In April
'19, we were in 200 urban areas. Our request volumes in top 15 urban areas
have multiplied over the most recent year; while the excess urban
communities as of now contribute 35% to our request volumes.
Our food@work business is developing admirably, and some extremely
enormous records are scheduled to go live soon. We are now doing ~3m
orders a month for food@work (this is notwithstanding the orders revealed in
the graph above).
We are exceptionally eager to change the worldview of food, as we keep on
giving each town access India experience Zomato.
We are exceptionally eager to change the worldview of food, as we keep on
giving each town access India experience Zomato.
We anticipate the patterns across this load of diagrams to keep glancing better
later on.

Our conveyance accomplices are the foundation of our tasks. Their diligent
effort and assurance is the thing that drives this area forward, and we are glad
to be working with 200k+ conveyance accomplices – to make an extraordinary
number of occupations, and social effect.
Spaces of squeezing stress in the food transport business –

As our solicitation volumes go up, the proportion of plastic packaging waste

we produce goes up somewhat. We will contribute an arranged work to
reduce/abstain from the usage of plastic in transports made by Zomato and
lower our carbon impression basically.
URBAN COMPANY

Urban Company is Asia's largest domestic services platform. Launched in

2014, the Urban Company today operates in India, Australia, Singapore, the
UAE and The Kingdom of Saudi Arabia. The platform helps customers book
reliable and high-quality services - beauty treatments, body massage, haircuts,
home cleaning, handymen, equipment repair, painting, pest control and more -
delivered by well-trained home professionals. Urban Company's vision is to
empower millions of professionals around the world to bring services home in
an unprecedented way.
Urban Company offers a platform that allows skilled and experienced
professionals to connect with users looking for specific services. All
professionals, although knowledgeable and competent, receive strong training
modules before being allowed to list their services on the platform. Once they
are on the platform, their game algorithm identifies professionals who are
closest to the needs of the user and are available at the requested time and
date.
Mission- Empowering millions of service professionals by bringing services
home in an unprecedented way.

Leadership Team
Their Story So Far -
A Little on the Background of the Company

It was also noted that the company also redesigned some of its vertical and
made them subordinate to the urban company. The inner vertical beauty was
distinguished by Urban beauty from a women-focused product, urban makeup
from a men’s makeup product, and an urban home massage. However, home
renovations and renovations came under urban cleansing, urban painting, and
small-town renovations.
In the 2019 Financial Year, the company had seen operating revenue reach
approximately 116 crore Indian Rupees. However, according to GAAP
measures, the operating revenue for Fiscal Year 2020 was estimated to be 242
Cr Indian rupees According to the IND-AS measures, the operating revenue
for 2019 was 106 kilograms of Indian Indians. Rupees and 216 cr Indian
rupees for the 2020 financial year. However, in total it is reported that the
company made about 2564 crore Indian Rupees with a cost of 394.2 crore
Indian Rupees which resulted in the company losing about 137.8 crores in the
2020 financial year.
The company points out that their operating model focuses only on services
from service providers and that they aim to double their salaries almost 2-3
times, making them smaller entrepreneurs. It is interesting to note that the
company has approximately 30K service partners as well as having 10K
hairdressers and hairdressers in general.
Urban Company has been listed as one of the best places for gig economic
workers to work with Fairwork India Ratings 2020: Employment Standards in
the Economic Sector Now it is very important to understand that Fairwork
India 2020 Standards: Economic Employee Employment Standards apply to
the pf prominent in India depending on the working conditions found there,
conditions that may be considered appropriate for temporary workers. The
company reportedly stands at the top with around 8 out of 10 points, with
companies such as Swiggy, Zomato, and Uber reportedly lying at the bottom
with an average rate of almost 1 in 10.
Speaking of the company's situation in times like these when the world is
facing a deadly epidemic, Last year with the global closure, many employees
began to migrate and most of the company's partners also left. However, it was
noted that the company did not give up and started boarding with those who
had lost their jobs in salons and apartments. So naturally, the company helped
to provide the service, not only that, the company had set up a relief fund,
provided them with covid-19 health insurance and also provided a help desk to
anyone who needed help with hospitalization, test and insurance claims.
Urban Company raises $190 million, joins Unicorn Club as
Valuation jumps to $2 billion

Urban Company's needy home-based provider has raised $ 190 million from
Prosus-led investors (formerly Naspers), a controlled file found in the Tofler
exhibition.
The agreement doubles the company's value to $ 2 billion. In its final round of
funding, led by Tiger Global in 2019, it cost $ 933 million. The Urban
Company is therefore the latest Indian startup to join the coveted unicorn club.
Tiger, Steadview Capital, Vi Capital and others participated in this round. The
company has so far raised $ 370 million in shares for investors in various
rounds. Some of its earliest investors include Bessemer India, Elevation
Capital, and Accel India.
According to the submission, Prosus has invested $ 61.93 million, DF
International $ 37 million, and Wellington Management $ 33.2 million, giving
them 3.18%, 1.90% and 1.7%, respectively.
These documents show that Urban Company has been allocated 2,613 shares
and 50,490 Series F shares for a disposal price of Rs 265,553.1 a dividend of $
190 million (Rs 1,410.2 crore). News website Entrackr was the first to report
the matter.
After the agreement, the three founders - Abhiraj Singh Bhal, Varun Khaitan
and Raghav Chandra - each will own 8.22% of the company. Elevation Capital
(formerly Saif Partners) will hold 14.56%, while Accel India will hold a share
of 14.40%.
It is important to note that although it has not yet been established that the
company has a value of 2 billion + USD in F-funding, the company has
increased its value to 933 million USD after series E in 2019. It is reported
that the company has raised about $ 75 million with E-sponsored E-sponsored
start-up from various investors at Steadview Capital and Vy Capital in 2019. It
is known that the company has managed to raise more than 370 million USD
so far.
The seven-year-old startup raised $ 190 million in April and earned unicorn
status. Launched by Bhal and Khaitan, Chandra along with engineering batch
mates, the company’s approximately 35,000 professionals provide home
services from grooming to plumbing. After the initial hiccups during the
epidemic, the expansion is now in full swing, partly because it became known
as "Universal Appeal" from UrbanClap. The startup aims to double its
workforce and expand from 30 Indian cities to 50. It also operates in the UAE,
Australia, Singapore and more recently Saudi Arabia.
The company maintains an online marketplace for urban lifestyle services that
provide mobile application and services to find and rent services such as home
service and repair, beauty and health services, lessons and hobbies, event and
wedding services, business services, personal services. Provides a website for
As the pandemic limited movement, so did the demand for such services. The
company claims to have more than five million customers and 25,000 trained
professionals registered on the platform. It operates in 30 cities including
Patna, Raipur, Bhopal and Vijayawada and Abu Dhabi, Dubai, Riyadh,
Sharjah, Singapore and Sydney.
The company's revenue from operations in FY19 was Rs. 108.96 crore on
FY19 on a consolidated basis to Rs. 218.64 crores. Total losses rose to Rs
155.17 crore in FY20 from Rs 78.48 crore last year.