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<ul><li>Releases ad-film highlighting the ‘safety’ aspect of travel with <keyword id="6359128" type="UNKNOWN" weightage="20" keywordseo="redbus">redBus</keyword>.</li><li>The film is made by McCann Worldgroup, Bengaluru.</li></ul>redBus announces the launch of a digital-led campaign, #journeyfordreams that inspires people to persevere in their endeavours, by undertaking their journeys with fortitude, while redBus ensures the safety of their travel. The campaign is aimed at restoring optimism for bus travel as the nation traverses its path to normalcy. The nationwide lockdown has not only brought lives but also dreams and aspirations for the future to a grinding halt. As a brand that's all about enabling journeys and connections, redBus seeks to reassure bus travellers that they can still move forward towards fulfilling their dreams during these tough times, as redBus strives to ensure their safety during the journey with its Safety+ programme. <div type="Youtube" id="lPK7uNmdYjE" title="redBus - #JourneyForDreams | 62 Sec (Hindi)" thumbUrl="https://i.ytimg.com/vi/lPK7uNmdYjE/mqdefault.jpg"></div> redBus had launched ‘Safety+’, which is a unique certification for bus operators who follow all the necessary safety and sanitization protocols. All operators and buses with a Safety+ tag next to their listing on the redBus app or desktop platform, have implemented strict measures outlined by redBus, to ensure the safety of the passengers. As part of the campaign, the company has launched an <keyword id="1141975" type="PERSON" weightage="20" keywordseo="Ad-Film">ad film</keyword> that relies on the emotions associated with safety of near and dear ones, especially while undertaking inter-city bus travel during these times, in order to highlight the proposition. The ad-film is set to be promoted extensively on digital and social media, including, YouTube, Facebook and Instagram, apart from e-mailers and other push notifications. Unlike the earlier campaigns of the brand that largely utilized humour as a means to attract and drive the message, such as the ones with MS Dhoni, this campaign relies on emotions to connect at a deeper level. Set inside the house of a small family, involving two middle aged parents and their young daughter who is about to begin her career, the film evokes a sense of nostalgia and affection with a heart-warming portrayal of a father’s apprehension for his daughter’s safety and vice versa. The story hinges on the poignant, yet ubiquitous scenario of parents or children having to travel to a different city on account of work and the emotional farewell associated with it, which in the given COVID scenario, is all the more affecting. The mood soon transforms to cheer with a narrative on the ‘safety’ of travel, brought about by redBus with various measures and checks in place, thus allowing people to bid farewell to their dear ones with a smile and a sense of fearlessness. Viewers witness a young woman who has decided to step out in order to pursue her career, but is faced with the dilemma of informing her father of her decision to travel, given the present circumstance, resulting in a commotion with her mother. A match cut then takes them back in time when the father was apprehensive about informing his young child about his work-related travel to a different city and avoids confronting her by packing his bags and leaving while she is asleep. It clearly highlights the common emotions, irrespective of the roles assumed in the journey of life and the message that life moves on, despite occasional hurdles. Getting back to the present, the daughter is able to convince her anxious father to permit her to travel, by showcasing the safety aspects introduced in buses by redBus, much to his satisfaction. The role of the father, mother and daughter has been played by popular television artists, Nitesh Pandey, Tanuka Laghate and Prachi Bansal respectively. The film has two edits, a 62 second and a 30 second version and will be seen in Hindi, Tamil, Telugu and Bengali versions.

redBus' latest campaign stresses on the safety of their buses and encourages people to start their journeys

New Delhi, Feb 27 () redBus is planning to expand its bus ticketing business globally and aims to garner 35 per cent revenue of this segment from overseas operations over the next 3-4 years, a top company official said on Wednesday. The company, which is part of the Nasdaq-listed MakeMyTrip group, currently garners just around 10 per cent of its bus ticketing revenues from five international locations -- Singapore, Malaysia, Indonesia, Peru and Colombia. redBus's overall annual revenues from the bus ticketing vertical, including India and international operations, stood at around USD 85 million. "We are looking to scale up international business and expect around 35 per cent of the revenues to accrue from overseas locations in the next 3-4 years," redBus CEO Prakash Sangam told . He said the company is currently focussing at Latin American and Asian countries to expand its base globally. redBus launched operations in Singapore and Malaysia in 2015. It acquired a majority stake in Peru-based bus ticketing platform Busportal in the subsequent year. With this acquisition, the company launched operations in Peru followed by Colombia. When asked to comment on the domestic bus ticketing business, Sangam said the segment faced some slowdown since September last year but expressed hope that things will improve in the next fiscal. "If there is improvement in the economy over the next 3-6 months it will be beneficial for us as well. On the positive side though, with new expressways being built and overall road infrastructure getting better, we expect growth to continue," he added. Besides, favourable regulations on the part of the government would also help in the growth of the sector, Sangam said. "There has been talk about contract carriage permits and one nation one tax regime. If such things happen then it would help the sector," he added. redbus, which is the world's largest online bus ticketing platform, saw its bus ticketing business grow by 38 per cent in the third October-December period of the current fiscal. Sangam said the company is also eyeing incremental growth in the bus ticketing business with the expected increase in online bookings going ahead. "We have tie-ups with 23 state transport corporations. Online booking segment currently remains very small. It is just around 12 per cent of the overall bookings. If online bookings grow, it will automatically help us," he noted. redbus, which came into being in 2006, till date has globally sold more than 180 million bus tickets and has customer base of around 20 million users. The Bengaluru-based firm on Thursday launched rPool, a car pooling/bike pooling platform for intra-city commute in Delhi-NCR region. It has already launched the service in Bangalore, Hyderabad and Pune. As part of the initiative, office goers can avail and offer rides in their personal cars and bikes while commuting between home and workplace. rPool can be accessed directly from within the redBus mobile app. "We would focus on 8-10 big cities in the first phase. These cities have huge population of people who commute on daily basis," Sangam said. He further said: "If we can get to one lakh rides in next 1-2 years, it will be a significant figure." When asked how the company would generate business from the vertical, Sangam said they would charge a small commission in the future as they are yet to figure out the amount. MSSMKJ

redBus eyes revving up bus ticketing revenues from overseas operations

In a bid to attract more and more customers, <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> has integrated with companies like <keyword id="6359128" type="COMPANY" weightage="100" keywordseo="Redbus">Redbus</keyword>, Zomato and <keyword id="132652" type="COMPANY" weightage="100" keywordseo="Cleartrip">Cleartrip</keyword> so that customers can directly use the mobile app to book bus tickets, flight tickets, hotel tickets and order food. 
 
While Cleartrip, Zomato and RedBus have got access to Snapdeal's huge user base, Snapdeal will be earning a commission for each booking for these companies made through its app. 
 
This can prove to be <a href="http://www.businessinsider.in/Snapdeal-is-now-valued-over-6-billion-Thanks-to-200-mnfunding/articleshow/50992078.cms" target="_BLANK￿￿￿￿">financially beneficial for Snapdeal</a> since booking air tickets is a large gross merchandise value (GMV) category and food ordering is category that sees high frequency. 
 
"Horizontals are looking at monetising their user base with a focus on GMV and repeat use cases. As funding environment becomes tougher, growth in these metrics will stand out," a Snapdeal investor told ET on the condition of anonymity. 
 
It was last year that Snapdeal CEO Kunal Bahl had said that <a href="http://www.businessinsider.in/Snapdeal-aims-to-overthrow-Flipkart-says-CEO-Kunal-Bahl/articleshow/48741092.cms" target="_BLANK￿￿￿￿">they would surpass archrival Flipkart</a> in terms of GMV by March 2016, declaring an open war in the <a href="http://www.businessinsider.in/Swords-are-drawn-Snapdeal-and-Flipkart-are-challenging-each-other-to-become-numero-uno/articleshow/48770391.cms" target="_BLANK￿￿￿￿">Indian e-commerce space</a>. 
 
GMV refers to the overall sales by merchants on an e-commerce platform, without factoring discounts. Out of these, the e-tailer gets 5 to 20% as margin on an average. 
 
It was only two months back that Snapdeal had tied up with <a href="http://www.businessinsider.in/Now-buyProperty-on-Sale-from-Snapdeal/articleshow/50589572.cms" target="_BLANK￿￿￿￿">real estate developers</a> to launch real estate and financial services on its website, to boost the GMVs. 
 
Talking of user experience, Snapdeal is <a href="http://www.businessinsider.in/Product-selfies-IMPS-refunds-and-much-more-this-is-how-Snapdeal-is-using-technology-to-improve-user-experience/articleshow/50768069.cms" target="_BLANK￿￿￿￿">heavily using technology</a> to improvise in that area, like having IMPS refunds and product selfies. 
 
<a href="http://s32.iamwire.com.s3.amazonaws.com/wp-content/uploads/2015/03/Snapdeal.jpg">Image source</a>

You can now use the Snapdeal app to book tickets and order food online

At a time when <keyword id="6354720" type="PERSON" weightage="80" keywordseo="Ola">Ola</keyword> and <keyword id="6357120" type="UNKNOWN" weightage="80" keywordseo="PayTM">Paytm</keyword> are going the extra mile to grab India’s $5 billion bus <keyword id="6354692" type="ORGANIZATION" weightage="80" keywordseo="Travel">travel</keyword> market, the country’s largest online bus ticketing agency <keyword id="6359128" type="COMPANY" weightage="80" keywordseo="Redbus">RedBus</keyword> is not far behind. The Ibibo-owned enterprise is looking to launch into newer categories and markets to expand its physical footprint. 
 
The company is looking to expand into hotel and taxi bookings soon. It is also looking to tap into international markets. RedBus currently offers around 80,000 routes in India with over 1,500 bus operators and reportedly owns 70% of the total market share in online bus ticketing. 
 
“If we find an interesting opportunity in overseas startups, we would look at acquisition. In a market as fragmented as bus travel, if one could have real time updates and online reservation of seats, it adds value to the experience”, Prakash Sangam, CEO, RedBus confirmed. 
 
Sangam insists that a bus traveler has very distinct needs for hotels that include free early check-in and proximity to bus stops that give them the edge. 
 
“We know the dropping points across cities, and can promote hotels in the vicinity”, he adds. 
 
Sangam observes the segment has evolved from the white collar market with IT professionals from Southern metropolitans like Bangalore travelling to and from home-towns in AP and Tamil Nadu to more diverse user-bases. 
 
 “As the internet is being widely adopted by the country, the target market has increasingly shifted from the luxury Volvo buses to non-AC ones that cater to students, small-time businessmen and salesmen”, he says, “While the market is still dominated by the metros, around 70% of our sales are from routes connecting the metros or the ones connecting metros to Tier II cities”, he adds. 
 
Mobile continues to be the platform of choice for new bookings with mobile bookings growing at a whopping 300% while desktop lags behind at a mere 30%. 
 
When asked about the stiff competition in an increasingly crowded market, Sangam dismisses the possibility there’s any match for them when it comes to bus ticketing, “We sell 20 times the tickets that a MakeMyTrip and a Yatra will sell combined. That debate has been settled. It has been clear in people’s minds that when have to do bus ticketing they’ll hire RedBus”, he asserts. 
 
(Image credit: Google Play)

RedBus is silently devising plans to become the
market-leader in a space being eyed by Ola and Paytm

Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> launched yet one of his other pet projects—Digital India with much fanfare. He emphasized on connecting India through technology and invited investments for his project. And while teleco and infrastructure majors <keyword id="6354287" type="CITY" weightage="20" keywordseo="Bharti-Airtel">Bharti Airtel</keyword> and <keyword id="6487" type="CITY" weightage="20" keywordseo="Reliance-Industries-Ltd">Reliance Industries Ltd</keyword> have pledged $1.6 billion and $39.3 billion respectively in the initiative, here’s what everyone had to say about the project: 
 
Prakash Sangam, CEO, <keyword id="6359128" type="COMPANY" weightage="20" keywordseo="Redbus">RedBus</keyword> 
 
We at redBus would like to commend and wholeheartedly welcome PM Narendra Modi's Digital India initiative. We believe that such initiatives in the new digital era will empower India and its citizens, open up new opportunities and accelerate economic growth. 
 
Pramod Saxena, founder and CMD, <keyword id="389412" type="COMPANY" weightage="20" keywordseo="Oxigen">Oxigen</keyword> Services 
 
Digitising India is the only sure shot way to reach the benefit of growth to india's masses and that then will create the multiplier to ensure the target 8 to 10% sustained GDP growth. The call for digital India is certainly the most appropriate call for transforming India into a vibrant and strong global economy. 
 
Rohit Raghav, co-founder, Phone Warrior 
 
Digitalization must be accompanied by democratization. Indians need, and deserve, a visionary approach to public services like Digital India initiative. However, one of the fundamental lacunae in British-era bureaucracy systems in our country is lack of feedback systems for government policies and execution. Service that will go completely digital will become faceless to a large extent and run the risk of big gaps in delivery quality. Ubiquitous mobile phones could be ideal partner for government and people in facilitating very fast, simple, and accurate real-time feedback. True democratization means true empowerment and it can begin now. 
 
Deepak Ravindran, founder and CEO, Lookup 
 
Digital India subsumes a mix of services and plans that are just right for reinvigorating the state of governance in the country. The programme will make it easy for the citizens to avail the government services online, in an easy way. With this technology advancement, India will transform into a digitally empowered knowledge economy. 
 
As far as private and public sector synergy is concerned, the engagement of the private sector in national development programs has the potential to serve development ends across any and all sectors. It will support the government by providing suitable infrastructure and technology-led facilities to consumers. Besides this, there will be a good inflow of innovative ideas and modern technologies from the private sector that will give a boost to the Digital India Programme. 
 
Brijesh Agrawal, Founder and CEO, Tolexo.com an IndiaMART 
 
Digital India is an initiative that holds the potential of transforming India into a developed nation in the next two decades. Not to forget that this will give a much needed boost to the booming e-commerce eco-system in India. 
 
With the government focusing on broadband and smartphone penetration across the country, it’s a great opportunity for the e-commerce players to accelerate their growth by tapping a new set of target audience. As a player in online B2B e-commerce space, we are already doing more than two-thirds of our orders from tier 2,3 &amp;4 cities and this initiative will further help us reach out to businesses in areas that offer huge potential but remain untapped due to poor connectivity and infrastructure issues. We look forward to metamorphosis of our nation into a digitally-empowered economy. 
 
Puneet Johar, CEO, The New Ventures 
 <keyword id="2926829" type="UNKNOWN" weightage="20" keywordseo="Digital-India-Week">Digital India week</keyword> is a welcome move with the view to transform the country into a digitally-empowered knowledge economy. The idea is to create awareness and sensitize people from all strata about the ongoing activities under the Digital India platform. It reaches beyond the early adopters to tell people about the utility if digital as a consumer and in their profession. 
 
Image Credit: Indiatimes.com

#DigitalIndiaWeek: Know what everyone said about PM Modi’s pet
project

Founders of Indian start-ups who have tasted success early in their respective ventures and making money are now taking up philanthropy and using their skills and resources to upskill people and transform society. 
 Many entrepreneurs like Naveen Tewari, founder of In-Mobi, his former chief revenue officer Atul Satija, Phanindra Sama of <keyword id="6359128" type="COMPANY" weightage="80" keywordseo="Redbus">redBus</keyword>, and <keyword id="1622254" type="UNKNOWN" weightage="80" keywordseo="Satyen-Kothari">Satyen Kothari</keyword>, founder of Citrus Pay are using personal skills, time and resources that had helped them build their disruptive businesses. 
 
Economic Times reported that 37-year-old Tewari got together 100 alumni from his alma mater Harvard Business School ten years ago and mobilised about Rs 32 lakh to impart education in a village near Mathura. Currently, the village has three schools, proper roads and electricity. 
 
Now, apart from Wipro's Azim Premji and HCL founder Shiv Nadar, poster boys of start-ups are also getting on the social side. 
 
"For me, whether I have money or not, it is far more important that there is an intent behind a cause that's pure and can change the lives of certain people. If that's there, then you will be able to get all the resources required,” Tewari told the financial daily. 
 
Tewari's colleague Atul Satija, 39, quit InMobi in April to launch a non-profit organisation, Nudge Foundation, sinking in Rs 1.27 crore ($200,000) of his personal money to help upskill people. 
 
"Poverty alleviation is close to my heart. In my 20s, I decided I would get into social side at 60. By early 30s things were going okay in my career and I thought I could do it in my 40s," Satija, who previously was the head of wireless business for Japan and Asia-Pacific at Google, told ET. 
 
Satija said Nudge will work with illiterate and unskilled people and help them get jobs. "We want to take them out of the cycle they grew up in and make them semiliterate, skilled with a majority of focus being on life skills," Satija told ET. 
 
Sama, who was running bus ticketing firm redBus, left him with no mental bandwidth for much else. 
 After selling it to Ibibo Group in 2013 for about Rs 800 crore, he teamed up with Raju Reddy, former board member at redBus, to replicate the Sandbox model adopted by Hubli's <keyword id="6691921" type="ORGANIZATION" weightage="80" keywordseo="Deshpande-Foundation">Deshpande Foundation</keyword>, in their home-town Nizamabad in Telangana. The model brings principles of entrepreneurship to social causes, thereby fostering innovation. 
 
"I had no mindshare on the topic of social impact and I wanted that - it makes you a balanced human being," Sama told ET, unwilling to disclose personal resources he's parted with. 
 
ET reported that Nizamabad Sandbox has implemented 200 projects in the past year, each with about 20 people involved, translating to over 2,000 changemakers and two semi-companies. 
 
And for those like Kothari of Citrus Pay, who is still wired into their ventures full-time, the desire to give back is no less. 
The financial daily reported the emergence of peer-to-peer lending platforms such as Milaap and Kivah has created new credible avenues for the socially sensitive. 
 
Kothari has been active on Milaap since February last year, and lent about Rs 50,000 so far. 
 
"There is pride with this form of lending - it's not a handout for borrowers who feel they have to work hard towards paying it back. For lenders like me it creates a continuous exponential cycle of goodness because after 6-12 months I get the money back, which can be used to give out another loan,” Kothari told ET. 
 
Many (including primary schools teachers) gave him grants and loans to pursue a computer science degree at Stanford. "It's a question of strangers helping strangers and that's the big motivating factor," he said. 
 
(Image: Thinkstock)

Poster boys of Indian start-ups are now taking up philanthropy

Online travel companies like <keyword id="828749" type="COMPANY" weightage="20" keywordseo="MakeMy-Trip">MakeMy Trip</keyword> and <keyword id="984795" type="UNKNOWN" weightage="20" keywordseo="goibibo">GoIbibo</keyword>, which took over the market share from industry legends like <keyword id="87184" type="COMPANY" weightage="20" keywordseo="Thomas-Cook">Thomas Cook</keyword> two years back, have now new competitors; not one or two but 80 of them. 
 
As per an Economic Times report, around 80 startups have emerged as strong contenders in the travel industry, with each of them focusing primarily on travel packages and experiential travel to woo customers. 
 Tripoto is amongst one of the big players, which is exploring new spheres with best of technology, consolidation, and strategic partnerships. The company raised an undisclosed sum in March in a second round of funding led by <keyword id="145350" type="CITY" weightage="20" keywordseo="IDG-Ventures">IDG Ventures</keyword>, has stitched partnerships both with room-sharing startup Airbnb as well as online travel booking company <keyword id="354768" type="COMPANY" weightage="20" keywordseo="Expedia">Expedia</keyword>, and is working on more such tie-ups. 
 Talking about other acquisitions in the travel and tourism business, most discussed acquirements have been made by MakeMyTrip and GoIbibo. MakeMy trip acquired MyGola, and <keyword id="6359128" type="COMPANY" weightage="20" keywordseo="Redbus">redBus</keyword> and <keyword id="2152083" type="UNKNOWN" weightage="20" keywordseo="YourBus">YourBus</keyword> were purchased by GoIbibo. Not just this, but the industry is all set to witness some more consolidations. 
 
Effortless access to information has changed the customer mindset which prevents them to rely on any specific travel company. 
 "With the democratization of information, even if we try to provide all this information to the consumers in one app, we've seen that they do use multiple sources," said Samyukth Sridharan, Co-founder and chief executive of <keyword id="132652" type="COMPANY" weightage="20" keywordseo="Cleartrip">Cleartrip</keyword>. Sridharan also informed about company’s disinterest in any acquisition in the near future.

MakeMy Trip and GoIbibo have got new competitors; not 1 or 2 but 80 of them

About two dozen top executives working with the fashion portal <keyword id="319719" type="COMPANY" weightage="100" keywordseo="Myntra">Myntra</keyword> will become millionaires as the country's largest online retailer <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> completes a long-awaited acquisition of the company. 
 
Among these executives are chief operating officer Ganesh Subramanian, chief technology and product officer Shamik Sharma, human resources head Pooja Gupta and chief marketing officer Vikas Ahuja. Their shares are approximately worth between $1 million and $4 million or up to Rs 25 crore. 
 
But it is not just the top executives who will benefit. Almost all the employees in central functions such as technology and marketing, apart from the call centre and delivery staff, have received stock options. 
 This is contrary to what has been the norm in the country’s start-up sector, where founders make the most out of lucrative deals. "Employees are the least represented at the deal table," said Alok Goel, former chief operating officer of online ticketing firm <keyword id="6359128" type="COMPANY" weightage="60" keywordseo="Redbus">redBus</keyword>, which was acquired by South Africa's <keyword id="6356837" type="COMPANY" weightage="60" keywordseo="Naspers">Naspers</keyword> in 2013. 
 
Goel, who is now the chief executive of Freecharge, an online recharge site, said that the start-ups set aside a stock pool, but do not distribute it. "At Freecharge, we have set aside a healthy stock pool and have already distributed a large chunk of it," he added. 
 
"Fewer employees have stock in the company," said a recruitment consultant who has worked with Myntra. Naukri and MakeMyTrip are regarded as start-ups that shared their wealth with employees in the form of stock options. 
 
The best-known Indian company for sharing its wealth with the employees is Infosys. Since 1994, the company has had three ESOP (Employee Stock Ownership Plan) plans that covered 32,000 employees. 
 
"Myntra's is a good model for other start-ups and entrepreneurs," said Anshuman Das, managing partner at Longhouse Consulting, a recruitment firm that works with start-ups.

Top Myntra Execs To Become Millionaires After
Flipkart Deal

<keyword id="1489410" type="UNKNOWN" weightage="100" keywordseo="e-commerce-in-India">E-commerce in India</keyword> is once again grabbing the headlines and this time, for all the right reasons. Bangalore-based <keyword id="319719" type="COMPANY" weightage="100" keywordseo="Myntra">Myntra</keyword>, arguably India’s largest standalone <keyword id="1127700" type="UNKNOWN" weightage="100" keywordseo="fashion-e-tailer">fashion e-tailer</keyword>, has recently closed a <keyword id="6357455" type="EVENT" weightage="100" keywordseo="Funding">funding</keyword> round worth $50 million from an investor consortium led by <keyword id="1430452" type="ORGANIZATION" weightage="100" keywordseo="PremjiInvest">PremjiInvest</keyword>, the family office of the <keyword id="10862" type="CITY" weightage="60" keywordseo="Wipro">Wipro</keyword> chairman <keyword id="6419840" type="PERSON" weightage="80" keywordseo="Azim-Premji">Azim Premji</keyword>. Myntra is also in talks with a clutch of investors to raise an additional $40 million at a higher <keyword id="51393" type="UNKNOWN" weightage="100" keywordseo="valuation">valuation</keyword>, according to an Economic Times report. So far, the <keyword id="2049121" type="UNKNOWN" weightage="100" keywordseo="E-commerce-firm">e-commerce firm</keyword> has raised $125 million in risk capital funding. Another fashion e-tailer that is also raising <keyword id="57924" type="ENTERTAINMENT" weightage="100" keywordseo="big-money">big money</keyword> is Gurgaon-based <keyword id="6388367" type="COMPANY" weightage="100" keywordseo="Jabong">Jabong</keyword>.com, which is backed by Berlin-based <keyword id="1965711" type="COMPANY" weightage="80" keywordseo="Rocket-Internet-GmbH">Rocket Internet GmbH</keyword> – a venture arm of the Samwer brothers. The e-commerce firm is reportedly raising a fresh round of equity funding worth $100 million, of which it has already received $27.5 million from the British <keyword id="2049123" type="ORGANIZATION" weightage="100" keywordseo="Development-finance-institution">development finance institution</keyword> <keyword id="1613067" type="UNKNOWN" weightage="100" keywordseo="CDC-Group-Plc">CDC Group Plc</keyword>. 
 All this is good news for the cash-strapped Indian e-commerce segment. So we have taken a close look at the recent fundraising by the <keyword id="2049116" type="UNKNOWN" weightage="100" keywordseo="Indian-e-commerce-players">Indian e-commerce players</keyword> and identified five key trends that seem to be prevailing. Will they rule the <keyword id="2049126" type="UNKNOWN" weightage="100" keywordseo="Fundraising-scenario">fundraising scenario</keyword> and determine the parameters of growth throughout 2014? Let us have a quick look. 
 
Growing big is the key priority E-commerce start-ups in India are finally coming of age and looking beyond the quickest possible exits. When Myntra closed $50 million in funding a couple of days ago, the company was immediately approached by its bigger rival <keyword id="6354742" type="COMPANY" weightage="60" keywordseo="Flipkart">Flipkart</keyword> who had reportedly come up with an acquisition offer worth $200 million. According to a TechCrunch report, e-commerce giant <keyword id="18635" type="CITY" weightage="80" keywordseo="Amazon">Amazon</keyword> had also approached Myntra but the details of the proposed deal are not yet available. 
 Although rumours were rife that Myntra could be considering either of the deals as part of a bigger strategy, the e-tailer has decided to stay off the <keyword id="1949341" type="UNKNOWN" weightage="100" keywordseo="Exit-route">exit route</keyword>. In fact, its ongoing talks for an additional round of funding worth $40 million clearly indicate that the company has in place some well-thought-out <keyword id="414633" type="UNKNOWN" weightage="100" keywordseo="growth-plans">growth plans</keyword> and big ones at that. The only other reason for back-to-back funding is to raise the valuation but at this point, Myntra doesn’t look like it is on the block. Neither has it decided to quit in a hurry like <keyword id="6359128" type="COMPANY" weightage="100" keywordseo="Redbus">redBus</keyword>.in did last year. <keyword id="2049136" type="UNKNOWN" weightage="100" keywordseo="Indias-largest-bus-ticketing-firm">India’s largest bus ticketing firm</keyword> was acquired by the <keyword id="1643008" type="UNKNOWN" weightage="100" keywordseo="Ibibo-Group">ibibo Group</keyword> for around $125 million but the sale cut short a successful <keyword id="530125" type="UNKNOWN" weightage="100" keywordseo="entrepreneurial-journey">entrepreneurial journey</keyword> that could have become a $500 million business in terms of revenue and could have achieved a $1 billion valuation. 
 As for Jabong, the very fact that it is backed by Rocket Internet may tell the industry insiders a different story. Rocket is known in the market for its fast and furious build-and-sell business module, and the start-ups are essentially replicas of successful US businesses. But the kind of funding Jabong is raising right now shows that the company is in no hurry to down the shutters in India even though two of its four co-founders have recently left the company. Jabong started its India operations in 2012 and competes with key e-com players such as Flipkart, Myntra, <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> and <keyword id="6354743" type="COMPANY" weightage="40" keywordseo="Amazon-India">Amazon India</keyword>, among others. 
 
Only <keyword id="2049143" type="UNKNOWN" weightage="100" keywordseo="Core-expertise">core expertise</keyword> matters Internet giant <keyword id="6355629" type="CITY" weightage="80" keywordseo="Google">Google</keyword> has already given us a case in point when it sold <keyword id="487941" type="ORGANIZATION" weightage="60" keywordseo="Motorola-Mobility">Motorola Mobility</keyword> to Lenovo for $2.91 billion, less than two years after paying $12.5 billion to acquire it. The deal is not a total financial loss as Google has managed to keep patents worth billions of dollars and expects to turn Lenovo into a manufacturing unit for its <keyword id="6355645" type="COMPANY" weightage="40" keywordseo="android">Android</keyword> OS. But selling <keyword id="11148" type="CITY" weightage="40" keywordseo="Motorola">Motorola</keyword> is a sure indication that Google should have focused more on its <keyword id="1430489" type="UNKNOWN" weightage="100" keywordseo="Core-Competencies">core competencies</keyword> – search, software and selling ads – instead of developing hardware. 
 You will find a similar case here as Jabong has reportedly sold its <keyword id="2049146" type="UNKNOWN" weightage="100" keywordseo="logistics-arm">logistics arm</keyword> <keyword id="2049145" type="UNKNOWN" weightage="100" keywordseo="JaVAS">JaVAS</keyword> (Jabong Value Added Services) to Gurgaon-based QuickDel Logistics as part of its business restructuring and funding exercise. Jabong <keyword id="170488" type="POSITION" weightage="40" keywordseo="co-founder">co-founder</keyword> <keyword id="536011" type="PERSON" weightage="40" keywordseo="Praveen-Sinha">Praveen Sinha</keyword> has also confirmed to the media that JaVAS is now an independent entity. 
 However, that brings us back to the basic question. Should companies try and provide end-to-end solutions to ensure a complete customer experience or should they focus on core competencies and leave the rest to the experts in those fields? We particularly raise this question as many Indian e-commerce firms are currently focusing on <keyword id="2049154" type="UNKNOWN" weightage="100" keywordseo="Proprietary-payment-gateways">proprietary payment gateways</keyword> and customised logistics services in a bid to propel their services to the next level. However, such services can actually make you lose money unless a company is catering to a customer base as vast as <keyword id="6357395" type="CITY" weightage="40" keywordseo="eBay">eBay</keyword> or Amazon. 
 After JaVAS, the writing is definitely on the wall. The bells and whistles can always come in later, but the key focus must be core competencies. Of late, even <keyword id="6354427" type="CITY" weightage="80" keywordseo="Apple">Apple</keyword> seems to be falling in this trap – its newest hardware products have ‘n’ number of <keyword id="2049161" type="UNKNOWN" weightage="100" keywordseo="Incremental-features">incremental features</keyword> but real innovations seem to be eluding the iconic company. 
 
Investors showing better <keyword id="170907" type="UNKNOWN" weightage="100" keywordseo="risk-appetite">risk appetite</keyword> India’s e-commerce market is projected to grow sevenfold to $22 billion in the next five years, and investors, both national and global, want to have a piece of the pie. According to <keyword id="1981" type="PERSON" weightage="80" keywordseo="Rahul-Khanna">Rahul Khanna</keyword>, managing director of the <keyword id="6357097" type="COMPANY" weightage="100" keywordseo="venture-capital">venture capital</keyword> firm <keyword id="218905" type="COMPANY" weightage="80" keywordseo="Canaan-Partners">Canaan Partners</keyword> (India), e-commerce players in India (and everywhere else for that matter) require very deep pockets to scale up to the level of breaking even and hitting profitability. In this space, sales margins are typically low; volume is high, and logistics &amp; back office <keyword id="6362476" type="ORGANIZATION" weightage="100" keywordseo="investments">investments</keyword> only become viable when companies are catering to a very <keyword id="2049169" type="UNKNOWN" weightage="100" keywordseo="Large-customer-base">large customer base</keyword>. Consequently, <keyword id="2049171" type="UNKNOWN" weightage="100" keywordseo="Follow-on-rounds">follow-on rounds</keyword> are extremely crucial for sustainable growth. Now that big institutional investors like PremjiInvest and UK-based development <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">finance</keyword> institution CDC Group are entering the arena, the much-needed <keyword id="2000080" type="UNKNOWN" weightage="100" keywordseo="Cash-burning">cash burning</keyword> is sure to propel growth to the desired level. 
 “E-commerce is fast maturing in India and that’s the main reason <keyword id="363248" type="ORGANIZATION" weightage="100" keywordseo="Global-Investments">global investments</keyword> are flowing in,” says another analyst. “When big players like Amazon show interest (the e-commerce giant has reportedly approached Myntra), investors are quick to sense the tremendous <keyword id="452394" type="UNKNOWN" weightage="100" keywordseo="growth-potential">growth potential</keyword> lying here,” she adds. 
 
Forget the buzz you are creating; it’s result time now Analysts, who have followed the course of events over the past few weeks, also point out another interesting trend. Be it Myntra or Jabong or other up-and-coming e-commerce businesses, it’s their <keyword id="2049173" type="UNKNOWN" weightage="100" keywordseo="Growth-quotient">growth quotient</keyword> that has attracted <keyword id="2049174" type="UNKNOWN" weightage="100" keywordseo="Big-funding">big funding</keyword>. In other words, start-ups who are delivering in a big way will get the valuable <keyword id="2049175" type="UNKNOWN" weightage="100" keywordseo="Growth-dollars">growth dollars</keyword> as investors are now looking beyond the buzz and focusing on <keyword id="1730239" type="UNKNOWN" weightage="100" keywordseo="business-fundamentals">business fundamentals</keyword> and results. 
 Companies must have the numbers – in terms of customer base, <keyword id="169826" type="UNKNOWN" weightage="100" keywordseo="growth-figures">growth figures</keyword> and brand leadership – to justify the big money they are raising. For instance, Myntra expects to more than double its <keyword id="657194" type="UNKNOWN" weightage="100" keywordseo="gross-sales">gross sales</keyword> to over $250 million by March 2015 and the fashion e-tailer’s <keyword id="2049176" type="UNKNOWN" weightage="100" keywordseo="Monthly-gross-sales">monthly gross sales</keyword> could touch $20-25 million by April this year. Myntra is expected to end the current fiscal with more than $100 million in gross sales and it is targeting $1 billion in <keyword id="6399113" type="ORGANIZATION" weightage="100" keywordseo="GMV">GMV</keyword> by 2016-2017. Flipkart, which raised $360 million last year at a valuation of about $1.6 billion, is also projecting a GMV of $1 billion by 2015. 
 Jabong, too, has aggressive growth plans and the latest round will be used to strengthen its <keyword id="2049177" type="UNKNOWN" weightage="100" keywordseo="Supply-chain-infrastructure">supply chain infrastructure</keyword> and enhance its <keyword id="2049178" type="UNKNOWN" weightage="100" keywordseo="Technology-platform">technology platform</keyword>. According to industry sources, Jabong might have generated <keyword id="2049180" type="UNKNOWN" weightage="100" keywordseo="Gross-merchandise-sales">gross merchandise sales</keyword> of $100-150 million for the fiscal 2012-13. Other key investments in the Indian e-commerce space since 2013 included online marketplace Snapdeal raising about Rs 300 crore and baby care portal <keyword id="1615917" type="COMPANY" weightage="80" keywordseo="FirstCry">Firstcry</keyword> bagging Rs 92 crore. 
 
Inventory, <keyword id="6630005" type="UNKNOWN" weightage="100" keywordseo="private-labels">private labels</keyword> are adding value 
With the lone exception of Snapdeal that runs a 100% marketplace, most of the big e-commerce entities in India are flourishing on a hybrid model – a strategic mix of inventory, private label and marketplace. In fact, Jabong has been doing all three for some time now, although a bit discreetly, and it could be now pushing hard to extract every penny from each of these categories. 
 
Myntra, on the other hand, focuses on both inventory and private label, with the share of private labels rising rapidly. A couple of years ago, the e-tailer acquired Exclusively.in Inc., the company behind the private label brand Shersingh.com and the fashion site Exclusively.in, in a cash-cum-equity deal. Myntra is reportedly eyeing more private labels to add to its portfolio as the margins are pretty high in this segment and add substantially to the profits. 
 
Bottom line: Is it a <keyword id="2049185" type="UNKNOWN" weightage="100" keywordseo="Volatile-situation">volatile situation</keyword>? In one of her latest blogs in <keyword id="6359301" type="POSITION" weightage="100" keywordseo="Entrepreneur">Entrepreneur</keyword>.com, entrepreneur-writer Erika Trautman has nicely summed it up. “No matter how great the idea, if your start-up doesn’t create hard and fast results with analytics, targeted business solutions and mobile integration, it won’t survive in 2014. Launching a start-up can’t just be about how cool your product is. No business can subsist off just buzz and Press. This year, start-ups must focus on business fundamentals and start emphasising partnerships that generate results.” 
 
Can the Indian e-commerce players innovate, scale up and deliver (as the takeaways so amply illustrate) to justify the trust investors are now putting in them? Will there be new ventures to take up the gauntlet? Let us wait and watch. 
 
Image: Thinkstock Photos/Getty Images

Indian E-com Players
Are Raising Big Money; These 5 Takeaways Can Help You Understand What’s
Changing

For us Indians, summer is not just about sultry weather and parched lands. It's also about nostalgia with two-month-long vacations, travel with family, and exploring new places every year. Summer travel is a time-honoured tradition that beckons adventurers, families, and sun-seekers alike to embark on journeys of discovery and relaxation. Whether it's basking on sun-kissed beaches, trekking through mountains under clear skies, or immersing oneself in the rich tapestry of cultural experiences, summer offers a plethora of opportunities to create unforgettable memories. As travellers eagerly pack their bags and plan their escapades, the data around these plans also tells a story. And the popular travel portal Make My Trip has now revealed some interesting trends in its report “<keyword id="17059737" type="General" weightage="100" keywordseo="Summer-Travel-Trends" source="Orion">Summer Travel Trends</keyword>”! The report gives a peek into the evolving preferences and behaviours of travellers across India. From the bustling streets of <keyword id="826" type="General" weightage="20" keywordseo="Goa" source="Orion">Goa</keyword> to the serene landscapes of <keyword id="6354931" type="General" weightage="20" keywordseo="Ayodhya" source="Orion">Ayodhya</keyword>, summer 2024 travel trends encompass a dynamic mix of traditional favourites and emerging destinations. Spiritual tourism remains vibrant, with pilgrimage sites like Puri and Varanasi drawing considerable interest. Additionally, the influence of external factors such as elections on travel patterns reflects the interconnectedness of travel and societal events. As one delves into the data, intriguing insights are evident not just on destinations but also on shifting trends in accommodation preferences and the duration of travel. Here are a few key takeaways from the report: <cmsannotation type="cmsannotation" annotationid="Goa remains top destination and Ayodhya is catching up" comment="subhead" text="Goa remains top destination and Ayodhya is catching up">Goa remains top destination and Ayodhya is catching up</cmsannotation> Goa retains its position as the top searched destination for travellers this year as well. However, Ayodhya has seen the sharpest growth in search volumes, attributed to the inauguration of the Ram Mandir. Following Ayodhya, interest in travel to Lakshadweep and Nandi Hills also shows noticeable increases. Read - <a href="https://www.businessinsider.in/travel/india/article/best-beaches-to-visit-in-goa/articleshow/109728267.cms" data-type="tilCustomLink" target="_blank">Best beaches to visit in Goa in 2024</a> <cmsannotation type="cmsannotation" annotationid="Spiritual tourism shows no decline" comment="subhead" text="Spiritual tourism shows no decline">Spiritual tourism shows no decline</cmsannotation> This summer, Puri and Varanasi emerge as the most searched pilgrimage destinations. Travellers are showing keen interest in exploring the spiritual and cultural richness offered by these revered sites during their summer journeys. <cmsannotation type="cmsannotation" annotationid="Travel behaviour during elections" comment="subhead" text="Travel behaviour during elections"><keyword id="21579458" type="General" weightage="20" keywordseo="Travel-behaviour-during-elections" source="Orion">Travel behaviour during elections</keyword></cmsannotation> Rajesh Magow, Co-founder and CEO of Make My Trip says they have seen a surge in traffic and bookings on redBus during election dates. People prioritise visiting their hometowns to cast votes, reflecting a significant trend in travel behaviour during electoral periods. <cmsannotation type="cmsannotation" annotationid="Growth in family and solo travel" comment="subhead" text="Growth in family and solo travel">Growth in family and solo travel</cmsannotation> In 2024, the family travel segment experienced a remarkable 20% growth compared to summer 2023. Solo travel also sees a significant uptick, with a 10% increase over the previous year's numbers, following the trend set by family travel. <cmsannotation type="cmsannotation" annotationid="Mountains over beaches" comment="subhead" text="Mountains over beaches">Mountains over beaches</cmsannotation> Places with cool mountain terrains emerge as the top choices for domestic holiday destinations this summer. Travellers show a preference for destinations offering refreshing mountain landscapes, highlighting a trend towards seeking cooler climates for summer getaways. <cmsannotation type="cmsannotation" annotationid="These international destinations saw the highest growth" comment="subhead" text="These international destinations saw the highest growth">These international destinations saw the highest growth</cmsannotation> Baku, Almaty, and Nagoya are witnessing the highest growth in searches among international destinations. Travellers are showing increasing interest in exploring these diverse and vibrant cities, reflecting a shift in preferences for their summer travel plans. <cmsannotation type="cmsannotation" annotationid="Average travelling days" comment="subhead" text="Average travelling days">Average travelling days</cmsannotation> On average, domestic travel durations range from 3 to 5 days, offering shorter yet fulfilling getaways. In contrast, international travel tends to span longer periods, averaging between 8 to 10 days, allowing travellers to immerse themselves more deeply in their chosen destinations. <cmsannotation type="cmsannotation" annotationid="Most booked domestic packages" comment="subhead" text="Most booked domestic packages">Most booked domestic packages</cmsannotation> The most booked domestic tour packages today include <keyword id="6358126" type="General" weightage="20" keywordseo="Himachal-Pradesh" source="Orion">Himachal Pradesh</keyword>, Kashmir, Goa, Kerala, and the Northeast region. These destinations offer diverse experiences ranging from serene mountain escapes in Himachal Pradesh and Kashmir to tropical beach getaways in Goa and Kerala, along with the enchanting cultural and natural beauty of the North East, attracting travellers seeking a variety of experiences. <cmsannotation type="cmsannotation" annotationid="Mid-range is preferred but premium accommodations show the highest growth" comment="subhead" text="Mid-range is preferred but premium accommodations show the highest growth">Mid-range is preferred but premium accommodations show the highest growth</cmsannotation> The tariff range of INR 2.5K to 7K per night constitutes approximately 45% of all homestay bookings. However, homestays and villas with tariffs exceeding INR 20K per night are experiencing the highest growth. Similarly, in the hotel sector, the INR 2.5K to 7K range remains preferred, but notable growth is observed in the INR 10K to 15K category, indicating a trend towards premiumisation. The summer travel landscape of 2024 presents a tapestry of diverse destinations and evolving travel behaviours. While Constant favourites like Goa continue to reign supreme, the rise of destinations such as Ayodhya and the growing interest in spiritual tourism demonstrate a nuanced shift in traveller preferences. The surge in family and solo travel, coupled with the increasing popularity of mid-range to premium accommodations, underscores the evolving dynamics of the Indian travel market. As travellers seek refuge in the cool mountain terrains or go on soul-searching journeys to pilgrimage sites, one thing remains clear – travel is not just about reaching a destination but also about embracing the experiences that enrich our lives along the way. SEE ALSO: <a href="https://www.businessinsider.in/travel/international/webstories/ahmedabad-makes-it-to-the-top-8-global-destinations-for-slow-travel-see-the-list/slidelist/109916139.cms" data-type="tilCustomLink" target="_blank">Ahmedabad makes it to the top 8 global destinations for slow travel; See the list</a>

Goa remains top, spiritual tourism remains hot, premium accommodations grow fast — MMT’s summer travel trends for 2024

After a software solutions provider gifted five of its trusted employees with BMWs each worth Rs 1 crore, in <keyword id="12864" type="General" weightage="100" keywordseo="chennai" source="Orion">Chennai</keyword> another IT firm has gifted 100 <keyword id="6912" type="General" weightage="20" keywordseo="Maruti" source="Orion">Maruti</keyword> cars to 100 of its employees. The company Ideas2IT, in a statement on Tuesday, said that the company is gifting 100 cars to 100 employees who have been part of the company for the past 10 years. The company has a bench strength of 500 employees. The Chairman and CEO of the company Murali Vivekanandan while speaking to IANS said, "We are not gifting the cars, it is the employees who have earned these cars through their hard work." He said that the employees have made a lot of efforts to develop the country to the position it is in. Vivekanandan said, "We had promised the employees a few years ago that we would be sharing our wealth with them, and awarding the cars is the first step. We will shower them with more such initiatives in the near future." The employees also are happy at the company providing gifts to them. Prasanth, an employee while speaking to IANS said, "We were earlier given gifts like iPhones and gold coins. Car is indeed a better gift and we thank our management wholeheartedly for the gift that they have given us." The Ideas2IT company in the statement said that it's a high-end product engineering company headquartered in Chennai and that it has high-end clients. The clientele includes Facebook, Motorola, Oracle, <keyword id="29740" type="General" weightage="50" keywordseo="bloomberg" source="Orion">Bloomberg</keyword>, and <keyword id="10387" type="General" weightage="50" keywordseo="microsoft" source="Orion">Microsoft</keyword>. The company also said that it commenced operations as a consulting firm in Silicon Valley with six employees in 2009 and it now has offices in the US, <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> and Mexico. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/redbus-launches-redrail-app-aims-to-make-railway-travel-experience-easier/articleshow/90798424.cms">redBus launches 'redRail' app; aims to make railway travel experience easier</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/olas-bhavish-aggarwal-is-reportedly-stepping-away-from-day-to-day-functions/articleshow/90799294.cms">Bhavish Aggarwal is reportedly stepping away from day-to-day functions of Ola to focus more on tech</a>

Chennai-based IT firm gifts 100 Maruti cars to 100 employees

South African scientists have detected two new sub-variants of the highly contagious <keyword id="1609796" type="General" weightage="100" keywordseo="omicron" source="Orion">Omicron</keyword> variant - BA.4 and BA.5. According to Tulio de Oliveira, Director of Centre for Epidemic Response and Innovation (CERI), <keyword id="6355117" type="General" weightage="80" keywordseo="south-africa" source="Orion">South Africa</keyword>, the sub-variants have been detected in South Africa, Botswana, Belgium, Germany, Denmark and the UK. Although "early indications show these new sub-lineages are increasing as a share of genomically confirmed cases in South Africa", there is, however, "no cause for alarm as no major spike in cases, admissions or deaths" are seen in the country, de Oliveira shared in a series of tweets. "The complex immunity landscape in South Africa, with high population immunity, is probably one of the main causes of the low infections, hospitalisation, and deaths since the <keyword id="6383835" type="General" weightage="50" keywordseo="delta" source="Orion">Delta</keyword> and Omicron BA.1 wave," he said. Incidentally, South Africa and Botswana were also the first to report on Omicron in November last year. South Africa was also the first country to be hit by the super mutant and vaccine evading variant of concern, before it became a global wave. BA.4 and BA.5 sub-variants are also on the radar of the <keyword id="43588" type="General" weightage="50" keywordseo="world-health-organization" source="Orion">World Health Organization</keyword> (WHO). The global health agency said it had begun tracking the two sub-variants because of their "additional mutations that need to be further studied to understand their impact on immune escape potential". Globally, only a few dozen cases of BA.4 and BA.5 have been reported to open access database GISAID. The earliest BA.4 sample reported to GISAID was from South Africa, with a sample collection date of January 10, 2022, the Independent.co.uk reported. However, the accumulation of genomes and geographic spread is more recent, suggesting "that the variant is transmitting successfully", said the UK <keyword id="12483706" type="General" weightage="50" keywordseo="health-security-agency" source="Orion">Health Security Agency</keyword> in its latest report. Both BA.4 and BA.5 have also been added to the UK agency's monitoring list. One case each of BA.4 has already been detected in Scotland and England, up to March 30, according to the UKHSA. The health officials said there were "potentially biologically significant mutations" in the two variants, the report said. In his thread of tweets, de Oliveira explained that BA.4 and BA.5 share a similar spike profile as BA.2, except for additional mutations: 69-70del, L452R, F486V. But "the good news is that BA.4 and BA.5 (like BA.1) can be identified by proxy marker of SGTF using the Thermo Fisher qPCR assay", de Oliveira said. Although BA.4/BA.5 has many shared mutations with the other Omicron lineages, it also has some differences. The impact of differences on virus phenotype needs to be determined, de Oliveira said, adding that the work is underway to characterise them. Moreover, the researcher also found differences between the sub-variants BA.4 and BA.5. "BA.4 and BA.5 differ from each other by three amino acid mutations outside the spike protein," he explained. The impact of differences on virus phenotype needs to be determined, de Oliveira said, adding that the work is underway to characterise them. "Vaccination remains the key intervention to protect against severe disease, hospitalisation and death from all known variants,a he said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/redbus-launches-redrail-app-aims-to-make-railway-travel-experience-easier/articleshow/90798424.cms">redBus launches 'redRail' app; aims to make railway travel experience easier</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/olas-bhavish-aggarwal-is-reportedly-stepping-away-from-day-to-day-functions/articleshow/90799294.cms">Bhavish Aggarwal is reportedly stepping away from day-to-day functions of Ola to focus more on tech</a>

Two new Omicron sub-variants detected in Africa and Europe

The founders of Swiggy <keyword id="254527" type="PERSON" weightage="20" keywordseo="Sriharsha-Majety">Sriharsha Majety</keyword> and Nandan Reddy have something magical about them. Coming from the background of entrepreneurs, they always said entrepreneurship was always in their blood. Here are a few interesting facts about the founders of Swiggy that you might not have known but will inspire you. Harsha believes in being stubborn Stubbornness is one personality trait that Harsha believed to have shaped him. He says, “I was really stubborn about doing things that excited me and was ready to commit myself to it.” Inspired by this belief, he turned his back to the campus placement and enjoyed a year of gap before he joined IIM Calcutta. Harsha was inspired by Phanindra Sama, Founder of RedBus The amazing growth of Phanindra Sama’s concern RedBus inspired Harsha and gave him the idea that he can take a plunge into the ecommerce arena. Initially they set up a logistics company Harsha and Nandan Reddy initially founded a logistics company known as Bundle in August 2013. This is because they discovered a huge potential in the logistics and shipping sector within the ecommerce industry. They wanted to democratize shipping and intended to provide the fastest way for people to make shipments across the country. Their crucial need was to find a technology co-founder They needed a technology co-founder to make their vision into a reality. Saying that the need to find a technology co-founder is crucial for every start-up, Harsha said, “It wasn’t easy (to find a technology partner) as none of my friends were ready to take the risk and finally I had to resign to reality and got a contractor to build the product.” Their first venture could not succeed By the time they got ready with the business model of Bundl, they found that the way the ecommerce market worked had changed dramatically. Ecommerce sellers like Flipkart and eBay wanted to handle the shipping of their products themselves and this trend led to the shrinking of the market. They had to shut down their first venture within a year saying, “That’s when we knew that we had to change our focus and it wasn’t worth the opportunity cost. Thankfully, we didn’t have any employees, investors and liabilities at that time.” They learnt from failures Their failure for the first time did not put them down. Harsha wanted to turn their learning into something more fruitful. Contemplating on filling a gap they found in the market, they observed that the rationale behind founding Swiggy was, “There was no large company with ideas similar to ours and hence we saw a competitive advantage of building a hyperlocal delivery platform that moved things fast in the city.” The unique merits of Swiggy In most ways, they invented a food delivery platform that was original and incomparable with the existing ones. Establishing itself very soon as the largest online food ordering platform in the country, some of the unique merits of Swiggy include lightning fast deliveries, live order, no restrictions on order amount, and providing the comfort of giving them their most favorite food to the customers wherever they are. Read Also about other Personalities - <a href="https://www.businessinsider.in/interesting-facts-about-ola-founder-bhavish-aggarwal/articleshow/71186840.cms">Ola Founder Bhavish Aggarwal</a> <a href="https://www.businessinsider.in/10-interesting-facts-about-ratan-tata-that-you-should-know/articleshow/69914798.cms">Facts about Ratan Tata</a> <a href="https://www.businessinsider.in/interesting-facts-about-oyo-founder-ritesh-agarwal/articleshow/70417612.cms">Ola founder Ritesh Agarwal</a> <a href="https://www.businessinsider.in/unknown-facts-about-flipkart-founder-sachin-bansal/articleshow/70494717.cms">Flipkart founder Sachin Bansal</a>

You Searched For "redbus" and got 13 results

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