Founder of Zomato Deepinder Goyal on its Growth, Zomato Gold, Food delivery and its Expansion – Zomato turns 11

Founder of zomato

Zomato started off as an online service platform that scanned and put restaurant menus back in the day. They have now diversified into a food delivery company. 

They have now expanded to 24 countries and serve almost 10,000 cities globally. 

On its 11th anniversary, CEO Deepinder Goyal said, “Every anniversary makes us proud of what we have achieved yet, acutely aware of how much there is left to do.”

Articles you must read – Restaurant Business Plan

Business Performance:

The burn rate of the company has reduced by 60% of what it was 6 months ago. However, it reported a loss of $294 million in FY 19. 

Deepinder said, “We achieved tremendous results in optimizing our costs, without affecting new product launches or innovation. We will shoot for market leadership, and simultaneously steer the business towards a more sustainable P&L”. 

Currently, Zomato has 3 main services, Food delivery, Dining out and Sustainability. 

Zomato currently offers food delivery in more than 500 cities across India. 

The order volumes in the top 15 cities have doubled in the last one year. The remaining cities contribute about 35% to the order volume.

Deepinder said that, “Our food @ work business is growing well, and some very large accounts are slated to go live soon. We are already doing 3 million orders a month for food @ work.

Zomato also claimed that its average monthly transacting users have increased by 211% to11.2 million users. While, the average monthly active restaurants have increased by 177% to 119K restaurants. 

Known as the “backbone” of Zomato’s services, by Deepinder, the average monthly active livery partners have increased by 308% in the first half of FY 2020. Currently there are more than 200K delivery partners associated with Zomato. 

Restaurant listing and Zomato Gold:

The restaurant listings on Zomato has gone up globally from 1.2 million in September 2018 to 1.5 million in September 2019. Half of the increase comes from India alone, said Deepinder. 

One of the primary products of Zomato, Zomato Gold, saw its users increase to 1.4 million. 

The cities in which Zomato Gold is applicable has increased by 34 cities to 54 as on September 2019 as compared to 20 cities in September 2018. 

From a restaurant owner point of view, gold is not for everyone, said Deepinder. He added, “We always encourage restaurants to determine if participating in Zomato Gold makes commercial sense for them. Some restaurant owners in India campaigned against Zomato Gold last month (#logout campaign); We engaged with the restaurant owner community and rolled out some changes to the program that were widely accepted by most restaurants, as well as users – Thus creating more balance in the program. A number of restaurants who have returned to Zomato Gold post these changes have seen a 100% increase in revenue.” 

In the last 6 months, Zomato has carried out over 65,000 orders for 2,200 restaurants across Delhi and Bengaluru. 

Zomato acquired Hyperpure in 2018. They provide fresh and good quality ingredients to its restaurant partners. They have projected a growth of 10x in the FY 20. 

In July, the food aggregator also started collecting used cooking oil from restaurants, processed it and then delivered it to biodiesel manufacturing plants. Zomato collects 130 tonnes of used oil per month from about 1000 kitchens in Delhi – NCR. They are planning to expand to 5 more cities from October. 

Useful Article –

Restaurant Business Plan 

Govt’s definition of startups just became more comprehensive. Here’s how:

Govt’s definition of startups just became more comprehensive. Here’s how:

The Department for Promotion of Industry and Internal Trade (DPIIT) released a gazette notification in February. 

The definition of startup is broader compared to the earlier definition under ‘Startup India, Standup India’ scheme.

According to the new definition, an entity will be considered a startup:

  1. Upto 10 years from the date of incorporation.
  2. If an entity’s turnover hasn’t exceeded INR 100 crore in any financial year from the date of incorporation.

In comparison to the definition of startups given earlier in DPIIT’s April 2018 gazette notification, An entity was considered a startup upto a period of 7 years from the year of incorporation and it’s annual turnover was not to exceed INR 25 crore in any of the financial years from the year of incorporation. 

Both the old and the new definitions require the entities to work on a business model with a high potential of innovation, development, employment and wealth generation. 

Minister of commerce and industry, civil aviation, Suresh Prabhu said they will simplify the process for startups to get an exemption on investments under Sec 52 (2) (viib) of Income Tax Act, 1961. This provision under this section is called angel tax. 

Reliance JioFiber – Reliance Jio Brings Tech Giants to the League of Affordable Smart TVs

Reliance JioFiber

Reliance JioFiber’s price disruption in the broadband sector has had a direct impact on the smart TV growth. Huawei, OnePlus and others have also announced new connected televisions. 

Smart TVs have rapidly grown in the Indian market with the primary factor being the broadband disruption brought about by the introduction of Reliance JioFiber. 

With the launch of JioFiber, the broadband rates are expected to fall rapidly across the country.

What Reliance Jio did for smartphones and cellular connectivity in the Indian market, JioFiber is hoping to replicate and disrupt the broadband sector the same way. 

What is Startup India?

Do you have an innovative idea that you want to pursue as a startup? Then Startup India is the right platform for you!

Startup India is a plan of action that is aimed at promoting and financing startups. It is an initiative of the Government of India. The campaign was first introduced by our Prime Minister Narendra Modi on 15th August, 2015. 

The Indian government has introduced over 50+ startup schemes in past few years. Each Startup scheme is aimed to promote the Indian startup ecosystem. 

India is expected to reach over 12,000 startups by 2020.

If you’re wondering “How Startup India is helping businesses?” Here is the answer to your question. 

  1. Easy access to funds

The Government of India has set aside Rs 10,000 crores to fund the startups as venture capital. 

The government is also giving guarantee to banks and other financial lenders for providing capital. 

2. Exemption from tax for 3 years

Startups will be exempted from income tax if they get a certification from the Inter Ministerial Board. 

3. Reduction in cost

Startups will enjoy 80% reduction in the cost of filing patents.

4. Easy process

Government of India has launched a website and a mobile app for registration of startups. Anyone interested in Starting a Startup (Provide link to How to start a startup) can fill a simple form on the website and upload the required documents. The full process can be completed online.

5. R&D Facilities and opportunities

New research centres will be set up to provide facilities and opportunities for startups in the R&D sector.

6. No time-consuming registrations

Numerous compliances have been simplified to save time and money for startups. 

7. Apply for tenders easily

Startups can apply for government tenders. They are exempted from the criteria of attaining a particular turnover. 

We have written a very interesting article about lean startup .

Follow the link to read that

http://liftmystartup.com/what-is-a-lean-startup/

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10 Most Successful Women Entrepreneurs in India

This article talks about some of the most successful women entrepreneurs in India and how they are an inspiration to a new generation of budding entrepreneurs.

Gone are the days when women were stereotyped to be subtle, soft, to cook, to take care of children, to dress up in a certain way, to be dependent, to be submissive, and to choose only few professions.

Today, the women of our country have come a long way from just being a homemaker.

From heading global businesses to starting the most innovative startups, women have made their mark.
Their journey to the hall of fame hasn’t been easy for these women and they have fought against all the odds and proved everyone wrong who have doubted their entrepreneurial abilities.
Interesting Statistics of Women Entrepreneurship in India:
 About 57% of women started their business alone.
 About 58% of women entrepreneurs in India started their business between the ages of 20 –30.
 About 71% of women entrepreneurs employ 5 or less people.

Here is the list of 10 most successful women entrepreneurs in india –

1 Kiran Mazumdar Shaw 

Founder – Biocon. 

Kiran Mazumdar Shaw was born and brought up in Bangalore. She completed her bachelor’s in zoology from Mount Caramel College, Bangalore. She later did her master’s in Malting and Brewing from Ballarat College, Melbourne University.

She founded Biocon India in 1978. It was a joint venture with Biocon Biochemicals Limited of Cork, Ireland. In the beginning of her entrepreneurial journey, she had to overcome obstacles like shortage of funds and inexperienced workers. Today, Biocon is one of the leading pharmaceutical companies in the country. 

Apart from this, she was also awarded Padma Shri in 1989 and Padma Bhushan in 2005 by the Government of India. 

2. Indu Jain

Chairman – Bennet, Coleman and Co. Ltd.

Indu Jain was born in Faizabad. She is the current chairperson of Bennet, Coleman and Co. Ltd., which owns the Times of India and other large newspapers. They are best known for their popular newspaper The Time of India, The Economic Times and the TV news channel Times Now. Under her leadership, the Times group has achieved a lot. She is also a spiritualist, humanist, entrepreneur and an educationalist.

Mrs. Indu Jain was awarded the Padma Bhushan in 2016 by the Government of India. 

3. Vandana Luthra

Founder – VLCC

Vandana Luthra was born in Kolkata. She is the founder of VLCC Health Care Limited. It is a beauty and wellness brand. The wellness brand has its presence in over 11 countries over Asia, Africa and Gulf Cooperation Council (GCC). 

She got proficient in beauty, skin care, fitness and nutrition while pursuing her higher education in Germany, UK and France. 

Mrs. Vandana Luthra was awarded the Padma Shri in 2013 by the Government of India.

4. Ekta Kapoor

Managing Director – Balaji Telefilms

Ekta Kapoor is one of the main people behind changing the face of Indian Television forever. Ekta Kapoor has singlehandedly founded and made Balaji Telefilms a successful production house. 

She has produced many hit serials. The longest running TV serial and the Most watched TV serial is produced by her. 

Ekta Kapoor has won numerous awards for the TV shows and movies that she has produced. 

5. Richa Kar

Founder – Zivame

Richa is the founder and CEO of Zivame, an online lingerie store. she is on of the most successful women entrepreneurs in India. Zivame is probably one of the first online innerwear players in India and has played a great role in educating women across the country about lingerie. 

From starting in a small office space to having a valuation of around $100 million, Richa kar and Zivame have come a far way!

6. Aditi Gupta

Founder – Menstrupedia 

Aditi Gupta was born in Jharkhand. She has a degree from National Institute of Design, Ahmedabad. Aditi is the co-founder of Menstrupedia. The company works towards spreading awareness about menstruation and educating the society about menstrual health and hygiene. 

She started the venture after her personal experiences. She used to have menstrual issues and after finding out other women also have similar issues, she decided to make a website and make illustrations that educate women on menstruation. 

This venture has become very useful and helpful to the women in India. 

7. Upasana Taku 

Founder – Mobikwik

Upasana co-founded Mobikwik with her husband, Bipin Preet Singh. Mobikwik provides a mobile phone based payment system and a digital wallet. Customers can add money to the Mobikwik wallet and that can be used for payments. 

She has completed her masters in management science from Stanford University. 

8. Malika Sadani 

Founder – The Moms Co.

Malika Sadani is the founder and CEO of The Moms Co., a leading brand for toxin free new born baby products and products that are safe for mom’s skin care during pregnancy.

When Malika moved back from UK to India after her first child was born, she personally found it difficult to find chemical free, quality products in the country.  

With Moms Co., her goal was to help moms in India and across the world to have access to safe and good quality baby products. 

9. Ruchi Garg

Founder – Venuelook

Venuelook was founded by Ruchi Garg in 2014. It’s a Noida based company. Venuelook is into venue booking and event planning. The company has its operations across 16 cities in India. 

Ruchi holds a degree in computer science. She has an experience of more than 15 years in the industry and still loves to solve her business problems using technology. 

10. Sugandha Agarwal

Founder – Docttocare

Sugandha is the sole founder of Docttocare. Docttocare is an online healthcare service provider which provides best doctors, clinics, hospitals with brief information and virtual walkthroughs of the ambiance to showcase hospitality and their facilities. 

Sugandha has previously worked in Infosys, Oracle and Google Maps before starting Docttocare.

10 Successful Startups From Mumbai

Mumbai has been considered as the financial hub of the country for a long time. Even though Bengaluru is the most preferred choice for starting startups, Mumbai has caught the attention of everyone for its posh lifestyle and business scope in many sectors. 

Here are 10 tremendously successful Indian startups that grew from Mumbai.

1. Ola cabs

Founders: Bhavish Aggarwl and Ankit Bhati  

Founded in: 2010

Ola cabs is an Indian transportation network company offering taxi services and food delivery. 

Ola has raised funding from Sachin Bansal, Kia Motors and Hyundai, reaching a valuation of about $6.2 billion. 

Ola Electric has separately raised funding of INR 400 crore from Tiger Global and Matrix Partners India. 

2. Quikr

Founders: Pranay Chulet and Jiby Thomas 

Founded in: 2008

Quikr is an online advertising platform. Quikr is there in over 900 cities and users can sell their mobile phones, household goods, cars, real estate, services and also look for jobs! 

Quikr has raised $350 million so far from Tiger Global, Matrix Partners, Norwest Venture Partners, eBay, Nokia Growth Partners and others.

3. Pepperfry

Founders: Ambareesh Murty and Ashish Shah  

Founded in: 2011

Pepperfry is India’s number 1 online furniture platform. They sell furniture and home décor products, creating their own niche in the e-commerce market. 

Its stock includes more than 80,000 products which includes various furnishing and home décor products. 

Initially the company was funded by the founders itself. They managed to raise $100 million in 2015. 

4. Justdial

Founders: V.S.S Mani 

Founded in: 1996

Justdial is marketed as India’s best local search engine as they provide search services across the country. They provide different services in India over the phone and online.

Justdial launched their web-based version in 2007 and their Android app in 2011.

In 2012, SAP ventures and Sequoia capital invested a total of $57 million in the company. 

5. Bookmyshow

Founders: Ashish Hemrajani, Parikshit Dar and Rajesh Balpande

Founded in: 1999

Bookmyshow is India’s largest online movie ticketing brand. Bigtree Entertainment Pvt. Ltd, the parent company of Bookmyshow received backing from Network18 group and Accel Partners. 

In 2018, the company raised $100 million in its Series D funding round. Bookmyshow is currently valued at $850 million. 

6. Nykaa

Founders: Falguni Nayar

Founded in: 2012

Nykaa is a beauty retailer online store. They sell cosmetic and wellness products. They opened their first physical store at T3 terminal, Indira Gandhi International Airport in November 2015.

The recent funding by TPG Growth has taken its valuation to $724 million. 

7. Toppr

Founders: Zishaan Hayath and Hemanth Goteti 

Founded in: 2013

Toppr is an online exam preparation platform. Initially, they catered to only IIT JEE students. Now they have expanded and offer materials to the medical students too. They also have materials for board and higher secondary examinations. 

The company has received $2 million seed funding from SAIF partners and Helion ventures. 

It recently raised $35 million in series C funding round which was led by eight roads ventures. 

8. Purple Squirrel

Founders: Aditya Gandhi and Sahiba Dhandhania 

Founded in: 2013

Purple Squirrel’s goal has been to bridge the gap between college learning and actual trends of various industries. The company provides industry driven education. 

The company works in collaboration with more than 350 businesses and 100 educational institutes. 

9. Bajaao

Founders: Ashutosh Pandey 

Founded in: 2005

Bajaao Music Pvt Ltd is an Indian online retailer of music instruments, studio equipment, DJ gear, lighting and pro audio equipment.

As the first online music store, impressive stock and good service, the startup was soon able to break even. 

As of today, Bajaao is India’s largest e-retailer for music instruments.

10. InCred

Founders: Bhupinder Singh

Founded in: 2016

InCred finance is a non-banking financial company in India. The company gives out home loans, education loans, consumer loans and SME lending. 

It recently raised INR 600 crore in a funding round led by FMO.

So, this was a list of some successful startups from Mumbai. Hope it was informative. 

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10 Successful Indian Startups that originated from Bangalore

Top Startups in bangalore

Bengaluru, also called Bangalore, is famously known as the Silicon Valley of India and IT capital of India because of its role as the nation’s leading Information Technology (IT) center. With Prime Minister’s ‘Make in India’ initiative, the city has emerged with many new players in the startup sector. Being the silicon valley of India, we have seen many startups emerging successfully from this city and making India proud on a global level. So, how can we not cover a list of the top startups that have originated from Bengaluru?

1. Flipkart: 

Flipkart is one of the oldest and well-known brands in the Indian e-commerce sector. It was founded in 2007 by IIT Delhi alumni Sachin Bansal and Binny Bansal. From an online bookstore from a 2 bedroom apartment to one of the biggest companies in India, it has set a terrific example of successful Indian startups. In May 2018, Flipkart was acquired by Walmart for $16 billion.

2. BigBasket:

Bigbasket is the largest online grocery supermarket in India. They sell fruits, vegetables, eggs, meat, fish, household products, personal care products, etc.  It was started by Hari Menon in 2011. The startup has been growing steadily irrespective of all the challenges. The company has managed to receive $150 million in funding and this has pushed it to the unicorn club. Bigbasket currently operates in 21 cities across the country. 

3. Zoomcar:

Zoomcar is a self –drive car rental company which was founded by David Back and Greg Moran in 2013. The company has raised over $20 million and plans to raise an additional $50 million this year to facilitate their expansion in other cities. From 7 cars to 2000 cars, the company has grown tremendously. The company operates in 45 cities across the country. 

4. Myntra:

Myntra is an Indian fashion e-commerce company. It was started by IIT graduates Mukesh Bansal, Ashutosh Lawania and Vineet Saxena in 2007. It started out in the B2B sector to supply personalized gifts. The brand gradually moved towards B2C focusing on branded shoes, clothing, accessories and lifestyle products for women and men. In 2014, Myntra was acquired by Flipkart for $330 million. 

5. Practo:

Practo is a patient focused, unbiased, independent medical website with over 1,00,000 doctor profiles from across India and Singapore. Patients can book appointments with doctors that are listed on Practo’s website and also get online consultations. It was started by engineering graduates Shashank ND and Abhinav Lal in 2008. Today, their clientele base includes over 2 lakh doctors and 10,000 hospitals across 36 cities and 5 countries. The startup has raised over $124 million in funding so far. Practo has now expanded globally and made its entry in Brazil too.

6. Swiggy:

Swiggy is India’s largest online food ordering and delivering platform. It was founded by BITS Pilani alumni Srihrsha Majety and Nandan Reddy in 2014. Swiggy has its own delivery team members that pickup food from restaurants and directly deliver it to the customers. The company claims that this makes almost all restaurants accessible for its customers sitting at home. The customers can also track their delivery on real time which makes it a better user experience. This year, Swiggy has already got $35 million additional funding and they have expanded their operations beyond Bengaluru to cities like Mumbai, Delhi and Kolkata. 

7. Zivame:

Zivame is an online lingerie store for women. It offers a wide range of products for women including  lingerie, nightwear, activewear and shape wear. It was founded by Richa Kar and Kapil Karekar in 2011. It has raised $57.5 million of funding from different ventures. 

8. Ginger cup:

Ginger cup is a creative advertising agency. They are pioneers in cup branding. The company helps brands interact with their target audience by printing messages on their coffee/ tea cups. It helps to reach out to the target audience during coffee/ tea breaks. Their client base includes BookMyShow, OYO, Uber, etc. 

9. Moon frog:

Moon frog is one of India’s fastest growing mobile gaming companies. The company was founded by Tanay Tayal, Ankit jain, Kumar Puspesh, Oliver Jones and Dimple Kumar in 2013. Some of the popular games developed by Moon frog are Teen Patti Gold, Ludo club, Bahubali- The game and Alia Bhatt – Star life. Moon frog has attracted over $16 million in funding. 

10. HackerEarth:

HackerEarth is a software company that provides enterprise software solutions that help in innovation management and recruitment needs. HackerEarth was founded in 2012 by Vivek Prakash, an IIT graduate. Its big corporate clients include Adobe and Wipro.

With all these Startups emerging from Bengaluru and many more to come, Bengaluru could concrete its spot as the startup capital of India too! So this was a list of Successful Indian Startups that originated from Bengaluru. Hope you liked it. 

Delhivery bags startup of the year award in ET Startup Awards 2019

Delhivery bags startup of the year award in ET Startup Awards 2019

Delhivery, which received the Startup of the Year Award, was applauded for covering remote parts of the country, comprising more than 17,000 pin codes and creating an impact by being a full-fledged logistics platform.

The startup won votes for transforming from a last-minute delivery services to complete logistics and supply chain services firm.

On behalf of the over 50,000 people who are part of the extended Delhivery team, we are very grateful to the jury and The Economic Times for selecting us as the Startup of the Year. It is a tremendous honour to be recognised by a jury of one’s betters,” said Sahil Barua, its chief executive. 

Delhivery started as a food delivery startup, delivering food to its customers. Most of these customers were ecommerce entrepreneurs. Impressed by the quick service, they asked if it could deliver their company products too. The company looked at this as an opportunity and tapped the potential market. But slowly, they started facing saturation. 

This is when Delhivery started to expand. It covered all pieces of the supply chain. 

The firm branched out into cross-border, business-to-business logistics and integrated distribution solutions to enterprises. 

“We believe that the next global integrator must emerge out of India, and for India to reach its aspiration of becoming a $5 trillion economy a sea change in logistics is inevitable. We will continue to invest in building our logistics infrastructure and technology platforms and growing our team as we have done since 2011.” Barua said. 

Today, Delhivery undertakes more than five lakh parcels a day and is valued at over $1.5 billion. It got its funding from SoftBank Vision fund in February. This got the company to enter into the unicorn league. 

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The surprise entry of 3 Indian unicorns to the startup ecosystem in 2019

  • 7 startups have already reached unicorn valuation this year in India. 
  • There are 33 soonicorns in India which include Pine Labs, Paytm money and Zerodha. 
  • Icertis is the latest unicorn in India with $115 Mn funding. 

2018 was an exceptional year for startups in India. They saw the creation of 10 unicorns. It’s the first time the ecosystem saw the double-digit mark in a calendar year.

It is a proud moment for the country as it beat the previous best year (2014) which had 4 unicorns. 

Things have been going great for the last two months, with three unicorns being announced in the Indian market. 

2019 seems to be on a good track. Since the beginning of 2019, seven startups have reached unicorn status already. But, not all of these were expected. 

The three surprise entry unicorn startups include Druva, Ola Electric, and Icertis. 

The entry of these 3 companies have surprised everyone in some way. Especially, with their rise coming before some of the established startups like Zerodha, BigBasket, Paytm Money and others.

Let us understand what these unicorn startups do and take a look at their journey.

1. ICERTIS:

  • Icertis was founded in 2009 by Monish Darda and Samir Bodas. 
  • It is a Seattle and Pune based contract management software maker. 
  • It helps its clients improve management processes, increase their compliance metrics and overall productivity. 

Icertis became a unicorn this month when it raised $115 Mn funded by US based venture capital firm Greycroft and PremjiInvest. 

Google, Microsoft, Airbus, Johnson and Johnson, Infosys and Wipro are some of Icertis’s big clients. It also has five out of the top seven players in the pharmaceuticals as its clients. 

Icertis looks forward to continue its three-digit growth rate for revenue in the near future.

2. DRUVA:

  • It was founded in 2008 by Jaspreet Singh, Milind Borate, and Ramani Kothandarman.
  • Druva is a Pune based company.
  • The services Druva offers are information management software solutions and cloud data protection.

While Druva’s entry to the unicorn club has been a surprise, It was chosen as one of the soonicorns. 

NASA, Pfizer, Hotel chain Mariott are some of Druva’s big clients. 

3. Ola Electric:

  • Its parent company is OLA.
  • It was incorporated this march 
  • Its investors include Ratan Tata, Tiger Global, and Matrix partners. 

Ola Electric is presently running pilots involving two, three and four wheelers. It is also working on battery swapping stations and charging solutions.

Since this market is still new in India, Ola Electric has a great potential in making it big in this market. India’s EV market was valued at $71.1 Mn in 2017 and is projected to reach $707.4 Mn by 2025.