Startups play an important role in contributing to the growth of our economy. The difference between a start-up and an organisation is that they have a different vision towards innovation. While an organisation is much more careful about what they invest on and its returns, the freedom that comes along with being a startup allows them to focus and invest in quantum leap technologies that create an impact on the customer. In fact, if we look at the effect a startup has on the population of the demographic area in which they operate in, it is far beyond what a large organisation can achieve. The reason is, a startup has the ability to create a human connection with the population. To understand the significance of supporting a startup, we need to realise that every business giant in the world today started their journey either in a garage or an apartment. Here are 7 startups in India, that had a bigger vision and the courage to follow that vision, and has now, grown from being unknown to being a part of our everyday lives.
If we can all agree on one thing, it is the fact that Flipkart created an online revolution in India. Let me break it down for you, before Flipkart came into existence, not many people in India shopped online, and Flipkart started that trend with attractive offers and unbeatable discounts. It was founded in 2007 by Sachin Bansal and Binny Bansal and is now worth around $11.6 Billion.
After the success of Flipkart and Amazon, Kunal Bahl and Rohit Bansal in 2010, created Snapdeal in an effort to share the crown. Earlier, Snapdeal turned down the offer by Flipkart to acquire them. In the last 7 years, they’ve grown from zero to $7 Billion.
Paytm (Payment Through Mobile) is a fin-tech company that enables cashless transactions through a digital wallet. Its popularity and usage have hit the roof since demonetisation. The company was founded in 2010 by Vijay Shekar Sharma and is now worth around $5.7 Billion.
OlaCabs was first invented in 2010 by Bhavish Agarwal and Ankit Bhati and is now valued at $3.65 Billion. It was one of the first on-demand taxi booking services introduced in India. OlaCabs is now competing against the international giant Uber to hold its place in the Indian market.
Launched in 2012 by Kevin Bharti, Hike has gained a loyal user-base and is now valued at $1.4 Billion. Hike also received a $175 million fund from the Chinese manufacturing firm Foxconn recently. The main competitor in the market for Hike is WhatsApp.
Shopclues was founded in 2011 by Radhika Aggarwal, Sandeep Aggarwal and Sanjay Sethi. It is another eCommerce website that is competing against Flipkart, Snapdeal and other similar services. It has its headquarters in Gurgaon, India and is valued at $1.1 Billion.
Zomato is a restaurant finder application that contains information, images and menus of restaurants around the globe. It was founded by Deepinder Goyal and Pankaj Chaddah in 2008 and now operates in about 23 countries. In a recent evaluation, Zomato hit the billion dollar mark.
It is safe to assume that we will be seeing more and more startups popping up into the scene. But what makes one business a success story and others fail lies in the way they approach and interact with the market.Share this post