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D2C home and sleep solutions platform Wakefit.co on Thursday launched a 'No Questions Asked' wellness leave policy for its employees. The policy extends a no-questions-asked leave to all employees once a month. These wellness leaves can be availed by the workforce to support their physical, mental, or emotional well-being by taking time off to unwind and rejuvenate themselves, the platform said in a statement. The employees can also utilise their wellness leaves to opt for leisurely activities. "With this policy, we hope to encourage our employees to unwind, focus on their health, and spend time with their loved ones by taking their wellness leave with no questions asked," said <keyword id="2800926" type="General" weightage="80" keywordseo="umanath-nayak" source="Orion">Umanath Nayak</keyword>, Head of HR, Wakefit.co. With the onset of the Covid-19 pandemic, the company overhauled its existing policies to mould them into the digital-first world. It unveiled its landmark 'Right to Nap' policy in May 2022 to enable employees to take a power nap between 2 and 2.30 p.m. Additionally, Wakefit.co also launched the flexi work policy for new parents. "These initiatives are impactful steps towards enabling a healthy work-life balance among its workforce," it said. Founded by Ankit Garg and <keyword id="1639108" type="General" weightage="80" keywordseo="chaitanya-ramalingegowda" source="Orion">Chaitanya Ramalingegowda</keyword> in March 2016, the company received Series A funding from marquee investor <keyword id="136147" type="General" weightage="80" keywordseo="sequoia-capital-india" source="Orion">Sequoia Capital India</keyword>, Series B funding from <keyword id="2248588" type="General" weightage="80" keywordseo="verlinvest" source="Orion">Verlinvest</keyword> and Sequoia Capital India, and recently received Series C funding from US-based <keyword id="857014" type="General" weightage="50" keywordseo="sig" source="Orion">SIG</keyword>, while existing investors, Verlinvest and Sequoia Capital India also participated. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/cognizant-closes-q3-with-4-9-bn-revenue-to-acquire-onesource-ld/articleshow/95275456.cms">Cognizant closes Q3 with $4.9 bn revenue, to acquire OneSource (Ld)</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-services-sector-recovers-some-growth-momentum-it-lost-in-september/articleshow/95273704.cms">India's services sector recovers some growth momentum it lost in September</a>

Wakefit.co announces 'No Questions Asked' wellness leave policy for staff

<ul><li>Season 2 of <keyword id="5891223" type="UNKNOWN" weightage="20" keywordseo="Wakefit">Wakefit</keyword>.co’s Sleep Internship Programme is set to stir up a storm, as the hunt for India’s best sleeper begins again . </li><li>The inaugural batch of the <keyword id="10673866" type="COMPANY" weightage="20" keywordseo="wakefit-sleep-internship">Wakefit Sleep Internship</keyword> (Batch of 2020) saw 23 <keyword id="8392130" type="UNKNOWN" weightage="20" keywordseo="sleep-interns">sleep interns</keyword> bagging the coveted internship, which had received almost 1.70 lakh applications from across the world. </li></ul>Ever heard of a job that pays to sleep? We bet you have, after Bengaluru-based sleep and home solutions company, <a href="https://www.youtube.com/watch?v=k-ozYcE1thE&amp;feature=emb_title">Wakefit.co, created a viral sensation</a> with its Sleep Internship initiative in 2020. A year later, the world has faced a pandemic, and sleep has somehow taken a backseat again amidst the stress, health risks, and career turbulences. On the brink of the Budget 2021, as India looks to mitigate its health threats, resurrect its economy, and generate opportunities for job growth, Wakefit.co is doing its bit by simply reminding people that sleep is important too and that you can, well, earn to sleep! <a href="https://wakefit.co/sleepintern/">Wakefit.co is back with its epic Sleep Internship program</a> and Season 2 promises to be bigger and better than its hugely popular maiden season that rewarded sleep lovers with their #DreamJob. This year, selected sleep interns will not only earn INR 1 Lakh but the pool of interns will get to compete with each other too, for a grand prize of INR 10 Lakh and bragging rights to be called ‘India’s Sleep Champion’. Close to 60,000 applicants have already thrown in their hats to compete and be a Sleep Intern for the second edition of the annual Sleep Internship initiative. This year, applicants have a ready pool of information to help them create a winning entry. Wakefit.co’s sleep internship microsite <a href="https://wakefit.co/sleepintern/winners">features last year’s winning interns</a>, their hilarious interviews with our celebrity judges, and a profile capturing their love for sleep. The contenders who clear the rigorous selection process in Season 2 will have to turn up to work every night in the comfort of your home for a deep, uninterrupted sleep of 9 hours for 100 consecutive nights. Each of the interns will be provided with a state-of-the-art Wakefit.co mattress and a sophisticated sleep tracker. They will also get to participate in various sleep-related challenges as part of the internship to emerge as India’s most passionate sleeper. As part of its scientific approach to sleep, the company will also facilitate counseling sessions with sleep experts, fitness experts, home decor specialists, etc. for the interns. Talking about the unique internship program, <keyword id="1639108" type="PERSON" weightage="20" keywordseo="Chaitanya-Ramalingegowda">Chaitanya Ramalingegowda</keyword>, Director and Co-founder, Wakefit.co, said, “2020 has been a tough year. Pandemic stress and work-from-home routines have translated into late sleeping hours, disrupted sleep patterns, and shorter sleep cycles. This is especially true for working adults between 25 and 45 years of age. We have brought back the Sleep Internship in its second season, to remind people to not relegate sleep to the bottom of their priority list.” He adds. “We aim to drive home the message that sleeping is a serious job. Just like any other job, it can be both, satisfying and rewarding, when done right. However, it needs an ideal ecosystem – something that Wakefit.co has been building over the last five years. The extraordinary response to our Sleep Internship program in 2020 has encouraged us to take forward this important conversation with season 2.” The inaugural season launched in 2020 had received close to 1.70 lakh applications from across the world, with applications pouring in from about 30 countries. With the stakes getting bigger this year, we can only imagine the competition that lies ahead. The hunt for the super sleepers to be part of the ‘Wakefit Sleep Internship 2021-22’ has begun. Are you ready for the challenge?

Wakefit brings back its sleep internship; this time, you can earn Rs 10 lakh by sleeping

<ul><li><keyword id="7239876" type="LOCATION" weightage="20" keywordseo="WAKEFIT-CO">Wakefit.co</keyword>’s Rewind Song, ‘<keyword id="10512279" type="UNKNOWN" weightage="20" keywordseo="bhaad-mein-jaa-2020">Bhaad Mein Jaa 2020</keyword>’ Qawwali, becomes the new internet sensation. </li><li>The song is conceptualised by Spring Marketing Capital. </li></ul>As a tumultuous year comes to a close, the trials and tribulations of 2020 was encapsulated in a funny, witty and <keyword id="10512281" type="UNKNOWN" weightage="20" keywordseo="topical-video">topical video</keyword> by sleep and home solutions company, Wakefit.co. The video, which has amassed more than 1.6 million views across the internet in three days, came at an opportune time to wrap up the highs, the lows, the untoward surprises and the eventful twists of 2020 and resonates with what people went through during the year. <div type="Youtube" id="lAhMQwtwNxs" title="Bhaad Mein Jaa 2020 | Viral Song 2020 | Funny Qawwali by HomeTime" thumbUrl="https://i.ytimg.com/vi/lAhMQwtwNxs/mqdefault.jpg"></div> The video was a raging success among netizens, as it struck an instant chord with people whose lives have been turned upside down due to the pandemic and being cooped up at home. Using the hashtag, #BhaadMeinJaa2020, some claimed that it captured the emotions of the year aptly while others declared it was the best video of 2020. The video reached more than 13 million people across social media within three days. <keyword id="1639108" type="COMPANY" weightage="20" keywordseo="Chaitanya-Ramalingegowda">Chaitanya Ramalingegowda</keyword>, Director and Co-founder of Wakefit.co, said on the release and success of the video, “We really wanted to sum up 2020 on a lighter note and give people something to chuckle about after a grueling few months this year. We created an independent YouTube channel called Home Time and released this video, which is our way of bidding 2020 goodbye once and for all. At Wakefit.co, we believe in creating content that makes people smile while also bringing to light the need for sleep and home wellness. We are thrilled to have received such an overwhelming response for our video from netizens.” Wakefit.co recently raised Series B funding of INR 185 crores from Verlinvest and <keyword id="136147" type="COMPANY" weightage="20" keywordseo="Sequoia-Capital-India">Sequoia Capital India</keyword> and plans to bolster its expansion plans in the year to come. The company will also double down on its marketing wherewithal and continue to create content that adds value to the lives of its consumers.

'Bhaad Mein Jaa 2020', says Wakefit.co in its quirky wrap-up qawwali for 2020

<ul><li>As demand for home and sleep solutions surges, the company witnesses a surge in website traffic of 84% and 139% in Tier I and Tier II cities respectively as compared to last year. </li><li>Due to COVID-19 and its impact on people’s lifestyles and residential arrangements, this year saw a marked increase in demand from deeper pockets of the country.</li></ul><keyword id="7239876" type="PERSON" weightage="20" keywordseo="WAKEFIT-CO">Wakefit.co</keyword> has announced a record year with respect to traffic and revenues during the 2020 festive season. Wakefit.co’s flagship festive sale, The Dream Home Sale, resulted in a 104% increase in website traffic as compared to last year’s festive Sale and recorded a phenomenal increase in revenues which rose 223% from about INR 17 Crores last year to more than INR 57 crores this year. The yearly festive sale ran from October 1st to October 31st in 2019 and this year in 2020, it spanned from October 15th to November 15th, based on when Diwali falls. The Dream Home Sale offered discounts of close to 35% on all products along with allied bank partnership discounts and Wakefit Rewards. Anticipating the demand during the festive season, Wakefit.co had ramped up the production of certain products such as mattresses and comforters by 33%, beds by 100%, pillows by 200% and sofas by 75% well in advance to address the needs of the Indian consumers. This year’s festive season threw light on important behavioral trends, as consumers took to buying ergonomic products on the Wakefit.co platform, such as memory foam mattresses, adjustable pillows, hygienic mattress protectors and comforters, ergonomic work desks, chairs and sofas, which consisted of the top performing product lines for the company. Due to tectonic shifts in people’s lifestyles and residential arrangements due to Covid-19, this year saw a marked increase in demand from deeper pockets of the country. <keyword id="1639108" type="PERSON" weightage="20" keywordseo="Chaitanya-Ramalingegowda">Chaitanya Ramalingegowda</keyword>, Director and Co-Founder of Wakefit.co said, “The Dream Home Sale received great feedback from customers and was especially successful in Tier 2 and 3 markets, which contributed to a significant share of traffic this year, with about 43% of people visiting our website from beyond the metros. This was a steady improvement from last year’s share, wherein 37% of our traffic constituted of Tier II and III markets." <keyword id="650855" type="PERSON" weightage="20" keywordseo="Ankit-Garg">Ankit Garg</keyword>, CEO and Co-founder, Wakefit.co, said, "Currently, almost 30% of our revenue throughout the year is generated from Tier 2 and 3 cities. As we grow, we are committed to making Wakefit.co a household name and hence, we plan to double down our focus on these cities. We aim to drive as much as 50% of demand from these cities in the next few years.” In a reversal of fortunes for the online furniture segment from last year, the pandemic has compelled Indians to invest in scientifically designed home furniture, as consumers use their homes as multi-functional spaces. The online furniture market, although only 3% of the organized furniture segment at the moment, is set to grow at a CAGR of 80-85% over the next few years. Industry trends such as marketplace growth in online home segment categories as well as significant investments in popular furniture players point to a rising appetite for the sector, both among consumers as well as investors. Wakefit.co, which is targeting INR 450 crores in FY 2020, also ventured into furniture this year and has received significant upsurge in demand for its sleep and home segments.

Wakefit.co clocks 223% increase in revenues over last year during the Festive Sale; records 43% traffic from Tier-II cities

<ul><li>Wakefit.co, a Bengaluru-based startup was founded by <keyword id="650855" type="PERSON" weightage="20" keywordseo="Ankit-Garg">Ankit Garg</keyword> and <keyword id="1639108" type="PERSON" weightage="20" keywordseo="Chaitanya-Ramalingegowda">Chaitanya Ramalingegowda</keyword> in 2016.</li><li>In 4 years, the startup is now diversifying from its primary offering of <keyword id="9658763" type="UNKNOWN" weightage="20" keywordseo="sleep-wellness">sleep wellness</keyword> products to <keyword id="306280" type="COMPANY" weightage="20" keywordseo="Home-Solutions">home solutions</keyword>.</li><li>The startup has announced ambitious expansion plans and is also targeting Rs 450 crore revenue in FY2021. Garg and Ramalingegowda walk us through their strategy to achieve it.</li></ul> In a year when most organizations are being frugal, cutting costs and even slashing jobs, Wakefit.co recently announced that its expansion plan. It is going to invest Rs 15 crore towards setting up new facilities, expanding product lines and strengthening technological capabilities. It also aims to target Rs 450 crore in revenue for FY 2021. Moreover, the company also plans to hire close to 200 people in the next couple of months. The year 2020 has been difficult for organizations across the world. However, it is companies that have been able to adapt, stay agile and listen to its consumers and work on its offerings accordingly that have been able to weather the storm effectively. So how has Wakefit, a 4-year-old startup been able to not only grow in these adverse times without cutting any jobs but is now also looking at hiring and investing on expansion? Ankit Garg, CEO and Co-founder, Wakefit.co said, “We recently announced an investment of Rs 15 crore towards setting up of new facilities, expanding product lines and strengthening our focus on research and innovation. We believe that investing in Capex to improve quality, reduce manufacturing costs and thereby pass on the benefit to customers is the ideal way to grow a business, and we will continue to adopt that strategy while fuelling the next level of growth. As a company, our top priority will continue to be the enhancement of customer experience and satisfaction.” “As a fundamentally strong company that works on sound business values, we have always prioritized a solid balance sheet and employee welfare,” added Chaitanya Ramalingegowda, Director and Co-founder, Wakefit.co. “By virtue of these ethos, we have been able to pay full salaries to employees and avoid any layoffs during this time. In fact, being in the home solutions space, we have seen growing demand for our products, which strengthened our resolve to invest in Capex to bolster our back-end capabilities. While we have remained very frugal in marketing efforts and for potentially wasteful expenditure, we have not held back in terms of investments that will benefit the company and our hundreds of employees in the long term,” he shared. What started as an online mattress and sleep solutions startup is now diversifying its offerings too. It is now also looking at entering the home solutions space. However, that is one space that already has a few well-established players, both online and offline. So how is Wakefit.co trying to create differentiation in the segment? “With our foray into the home solutions space, we are now invested in the science and innovation of home wellness. Based on scientific research in home ergonomics, we have designed new products such as study tables, book shelves, bedside tables, coffee tables, TV units, sofas, shoe racks, and dining tables that offer superior value to customers at an affordable price. Given that we are a full stack company and own the manufacturing and back-end operations end-to-end, it is conducive to keep innovating on the products and keep the prices reasonable, yet be profitable,” explained Ramalingegowda. “Our direct-to-consumer DNA, powered by strong manufacturing capabilities, is definitely a big advantage. Currently, we have six world-class manufacturing facilities – spread across Bengaluru, Jodhpur and Delhi – to cater to the growing consumer demand,” he added. The lockdown experience The first two months when operations came to a sudden halt, there was a lot of uncertainty and confusions about the future. Supply chain had been completely disrupted. However, that halt also led to a lot of pent up demand. Moreover, with people staying more at home, they started paying more attention to wellness and sleep. “As the lockdown eased, we registered an increase in customer queries about our products. There has been a perceptible shift in customer preferences, possibly, due to prolonged stay at home as well as crucial conversations about health and well-being,” shared Garg. As working from home became the norm, Wakefit.com also witnessed an upsurge in the demand for better home solutions. “We understand that customers are creating their own efficient and ergonomic work spaces within their homes, while also filling the gaps in their home furniture needs now that they are spending more hours indoors. This has contributed to steady growth in demand over the last two months. We surpassed pre-Covid demand in June and are on track to do the same in July as well,” he added. Wakefit.co’s marketing plans for FY2021 Wakefit.co has had an interesting marketing journey so far. Last year, a campaign it did, inviting entries for its sleep internship went viral, for all the right reasons. It was a smart campaign, and appealed to a huge consumer base that was intrigued at the prospect of getting paid to sleep. More recently, another campaign the startup did featuring actors Sumit Vyas and Rasika Dugal was also widely shared, for voicing what a lot ofus had been experiencing during the first few weeks of the lockdown. So what comes next in their marketing journey? “Our goal is to build brand awareness and the best way to do it, in our opinion, is to take the stance of educating customers and to focus on innovative ideas and content that will resonate with our target audience. For instance, intelligent campaigns – such as our sleep internship campaign or the open letter campaign which went live during the lockdown period – give us opportunities to engage with our customers in meaningful ways,” said Ramalingegowda. Recently, the brand also launched the ‘Wakefit Rewards’ initiative to provide value-added benefits to its customers. It also partnered with brands like Gaana, Cleartrip, Bombay Shaving Company, Ajio, 1MG and Parentlane among others to offer value-added offers on the purchase of Wakefit.co products. The collaboration was purely on goodwill, without any commercial considerations. This allowed the partner brands to attract traffic from Wakefit.co’s users without incurring any marketing costs while Wakefit.co’s customers derived value too. On what kind of marketing budgets they are looking at allocating this year, Ramalingegowda said, “Our marketing budget allocations have always been made keeping consumer sentiment and situational awareness in mind. We do not believe in spending large marketing budgets for the sake of it or because other brands are doing it. We always think about the benefit it will add to the customer’s life and then create initiatives accordingly.” Going deeper into Bharat While the brand is expanding its offering by diversifying, its next phase of growth will also come from going deeper into the country. Already close to 30% of its demand comes from Tier II and Tier III markets. “When it comes to going deeper into the country, strategic collaborations will be the key. We work with multiple logistic partners, who have unique strengths in diverse geographies, to ensure that Wakefit.co has a robust distribution and delivery system in every corner of India. We have capabilities to deliver across 19,000+ pincodes in the country and around 30% of our demand comes from Tier 2 and 3 markets. As we grow steadily, we aim to target Tier 2 and 3 cities aggressively and target 50% demand from these markets,” shared Garg. Wakefit.co of the future Both Garg and Ramalingegowda are confident that the startup is on the right path. It will continue to keep the consumer at the heart of everything that it does. On what he thinks the Wakefit.co of the future will look like, Garg said, “The vision is to strengthen the brand and ramp up production capabilities as well as distribution network across Indian markets. Our focus is on providing cutting-edge home solutions to Indian consumers at a highly affordable price point. The idea is to create a pioneering company powered by constant innovation based on consumer data and feedback. At Wakefit.co, we are working towards inspiring healthy conversations that create greater awareness about the importance of sleep and home wellness.”

Wakefit.co is targeting Rs 450 crore revenue in FY2021. The founders tell us how they plan to reach there

<ul><li>Wakefit launched in 2016 and was built on the tenets of innovation, research, customer feedback, and quality supervision.</li><li>On the back of effective marketing and an innovative line of products, the startup is confident of earning ₹220 crore in revenue in FY20.</li><li>Chaitanya Ramalingegowda, Co-founder and Director, Wakefit.co walks us through the startup’s marketing and growth strategy.</li></ul>Wakefit.co, a sleep solution company that has been in existence since 2016, went viral for a clever campaign it came up with recently. The startup was offering to pay ‘sleep interns’ ₹1 lakh for sleeping at their job, literally. Candidates were expected to sleep for 9 hours on their mattress for 100 days. The objective? To analyse sleep patterns to come up with products better suited to solve consumer pain-points. That the initiative was a success is perhaps clear from the kind of attention it got, not just in India, but abroad too. And now that the startup has captured people’s attention, it wants to start building conversations around sleep health while educating people about the importance of a good night’s sleep. The mattress industry, that is poised to cross ₹14,000 crore by 2021, has largely been an unorganized sector, with lots of local players. It is also a segment that hasn’t witnessed a lot of innovations in the recent past. That is where Wakefit wants to make a difference. We recently caught up with Chaitanya Ramalingegowda, Co-founder and Director, Wakefit.co. He spoke to us, not just about the brand’s journey so far but about its upward growth trajectory in the past few years. While the startup ended FY 17 at ₹6.75 crore in revenue, it is confident of making ₹220 crores in revenue in FY20. He also spoke to us about the marketing strategies it will employ to ensure that people take their sleep, or the lack of it more seriously. Edited excerpts: Q) Your 'Sleep Internship' campaign has turned out to be quite a clever way of capturing the attention of the media and consumers alike. What was the thought behind the initiative? What kind of reactions are you seeing to it? We are a sleep solutions company – passionate about sleep and one of our key objectives is to bring sleep into the everyday consciousness of people. The most common casualty of our fast-paced, social media fuelled lives is our sleep. As a company we wanted to remind people about the importance of a good night’s sleep and spark organic conversations about the need to make sleep a health priority without sounding too preachy or boring. At Wakefit.co, we celebrate the love for sleep and wanted to applaud people who are as obsessed about sleeping well as we are. This spurred the idea of the sleep internship campaign. The initial reaction towards this internship was complete disbelief and we saw many people disregard the authenticity of the campaign and considered it a hoax. However, over time, as we addressed each query and skepticism, we began receiving queries about the JD, KRA, performance measurement etc., and soon we were inundated with applications for the job. Interestingly, many were sceptical of being able to sleep for about 9 hours every night (a key performance indicator in this internship), which is a sign of the unhealthy lifestyle habits of our generation Q) What has your marketing strategy been so far? How have you been communicating with your consumers? Our marketing strategy stems from the business focus on customer-centricity. Our key objective has been to understand customer pain points and gaps in the sleep solutions market and our core strategy has been to take an educative stance of ‘The More You Know; The Better You Sleep’. This essentially means that a significant focus of our marketing strategy is on educating people about the knowledge and science of sleep and empowering them with information to do their own research and take a decision that is best for them. The ‘Sleep Internship’ campaign is based on this larger strategy and endeavours to make sleep health a topic of conversation and action in households. Q) You launched Wakefit in 2016. How has the journey been so far, considering you have entered a space that has quite a few well-established players? We launched in 2016 with a vision to help India sleep better. Unlike other players in the market, our company philosophy is built on the tenets of innovation, research, customer feedback and quality supervision. Beyond everything, we believe that a good sleep is not just a rich person’s dream. Despite the Rs 10,000 crore market which is growing steadily to cross Rs 14,000 crore by 2021, the mattress industry is a segment that largely comprises unorganized players. This is also an industry that has not witnessed much innovation until recent years. Additionally, this industry is also characterised by numerous gaps at various points from pricing, quality adherence to standardisation. This drove us to start a company that endeavors to beat and surpass existing industry norms. Our direct-to-consumer business model looks at sleep from a holistic standpoint. Wakefit.co was launched with the idea of bringing sleep solutions to people at affordable prices and to raise awareness about the science behind a ‘restful sleep’. In order to do this, we structured our business in a way that it democratized our products and made it affordable for the masses. Our products are designed and priced such that they are accessible to a household with a monthly income of Rs 30,000 and above. Q) How has the 2019 been for Wakefit, in terms of performance - sales and growth? We have been fortunate to record encouraging growth numbers with a 3x rise year-on-year in revenues. Having gone from recording Rs 6.75 crores in FY 2017 to posting revenues of Rs 27 crores in FY 2018, we have maintained our growth trajectory to close FY 2019 at Rs 81 crores and are expecting to close FY 2020 at more than Rs 220 crore. This growth has come at a rapid and sustainable pace, with over 5 lakh customers catered to as of 2019. This has been achieved by a strong 600+ member team that has strived to uphold the principles of product excellence and customer-centricity. We service over 19,000 pin codes across India and have carried out business operations across the country, having maintained EBITDA profitability since inception. Q) In the next year are you going to modify your marketing strategy? Will you be using the traditional mediums to reach out to your consumers? We don’t really intend to change our larger marketing strategy, which is to use out-of-the-box and creative ways to bring sleep back into public consciousness. We will continue to concentrate on our core value of empowering customers with accurate information and presenting it in an interesting manner. As a fairly young company, we definitely believe in the integrated marketing communication model and will employ the optimal marketing mix to get the best possible results. Digital media will continue to be a key focus, with specific emphasis on content marketing. On-ground activations and traditional media will also be marketing drivers in the year to come. Q) You call yourself a sleep solutions company. How are you different from other players? We are a company which is constantly innovating based on consumer data and feedback. In fact, when Wakefit.co was launched, Ankit and I had personally delivered the first 100 mattresses to understand customer mindsets. Our strength and differentiation will continue to be our razor sharp focus on doing what is best for our customers. Research, both national and global, point to the fact that Indians are sleeping less and sleeping on poor quality products. They’re sleeping less due to increasing levels of stress while sleep-related products available in the market are either of poor quality or are extremely expensive. This is where we come in, with a motive to provide cutting-edge sleep products, educate people further and become thought leaders in this not-so-organised sector. We are aiming to spark conversations and create awareness around the space, which is likely to benefit the entire ecosystem. Another key focus area for us is to create a pioneering umbrella company where all of a customer’s sleep needs are taken care of, rather than them having to buy different products from different companies. Q) What kind of growth have you been witnessing since your launch? Our growth numbers, since inception, have been as below <ul><li>Ended FY 2017 at Rs 6.75 crore in revenue</li><li>Ended FY 2018 at Rs 27 crores in revenue</li><li>Ended FY 2019 at Rs 81 crores in revenue</li><li>On track for FY 2020 for Rs 220 crores in revenue</li><li>More than 5 Lakh customers served over 4 years </li></ul>Q) What new can we expect from Wakefit.co in the next few months/quarters? We are looking at the year 2020 as a year of growth and our focus will continue to remain on educating and spreading awareness around sleep health. We are aiming to create further thought leadership focused conversations through our future campaigns and like our previous campaigns, they too will be fun, witty and engaging. Sleep is an often misunderstood and a highly debated topic in healthcare, but today there is a gradual shift of perception and this topic is slowly coming under the healthcare spotlight. We intend to leverage this and be at the forefront of this change in conversation. Additionally, we will also look to expand our product portfolio in the next few quarters. Q) What is your vision for Wakefit.co? Where do you want to take it in the next few years? Any plans of expanding to global markets? Our vision is to enhance the quality of sleep among Indians and make great quality sleep affordable for households with a monthly income of as low as Rs 30, 000. At the moment, we are looking to penetrate deeper into the Indian market and make great sleep accessible to as many Indians as possible. We are especially looking at Tier II and Tier III cities as growth drivers, which currently constitutes about 25% of our business. Q) Are you already making profits? If not, by when do you expect to become profitable? With our current business model and financial prudence, we have remained profitable since 2016.

How Wakefit.co is using marketing to make sleep health a topic of conversation in every household

<ul><li>Wakefit.co is offering sleep <keyword id="771927" type="PERSON" weightage="20" keywordseo="internships">internships</keyword>, where it’s asking candidates to nap for 9 hours a day for 100 days.</li><li>One of the conditions of the internship is – no using a laptop during work hours.</li><li>Once the data is shared with the startup, a stipend of ₹1 lakh will be given to the candidate. </li></ul>Indian sleep solutions startup that produces mattresses-Wakefit.co has an opening for internships. And it’s a job that you can even do in your sleep -- literally. The company is offering sleep internships, where it’s asking candidates to nap for 9 hours a day for 100 days. And how do you land this job? You will have to convince the startup about your true love for sleep. “We are looking to recruit the best sleepers in the country who are willing to go to any lengths to make sleep a priority in their lives. The <keyword id="8382952" type="UNKNOWN" weightage="20" keywordseo="sleep-internship">Sleep Internship</keyword> initiative aims to bring back the focus on sleep health by celebrating and applauding people who obsess about <keyword id="125521" type="PERSON" weightage="20" keywordseo="sleeping">sleeping</keyword> well,,” said Chaitanya Ramalingegowda, director and co-founder, Wakefit.co. Through the internship, Wakefit will monitor one’s sleep pattern as the interns would be sleeping on the startup’s mattress. It will also offer counselling sessions and give a sleep tracker, that will monitor their sleep before and after using the mattress. To top it all - one of the conditions of the internship is – no using a laptop during work hours. Once the data is shared with the startup for having slept nine hours every day for 100 days, the company will offer a stipend of ₹1 lakh. “This initiative is another step towards making sleep an integral part of maintaining work-life balance in our lives,” said Ramalingegowda. The startup is also campaigning for the ‘Right to Work Naps’. It will also install siesta rooms at offices. It has partnered with Rentomojo and Cloudnine hospitals to collaborate for employee wellness. A <a href="https://www.businessinsider.in/wakefit-will-install-nap-rooms-at-work-as-survey-says-indians-believe-it-will-help-productivity/articleshow/70736738.cms">survey</a> conducted by Wakefit said that 86% respondents strongly advocated a nap room. They believe that it will help increase productivity. See Also: <a href="https://www.businessinsider.in/thelife/news/microsoft-office-has-four-day-weeks-can-indian-companies-replicate/articleshow/72007379.cms">Microsoft’s four-day work week idea will be good for Indians⁠— but there is a lot to be fixed before that</a> <a href="https://www.businessinsider.in/wakefit-will-install-nap-rooms-at-work-as-survey-says-indians-believe-it-will-help-productivity/articleshow/70736738.cms">This Indian startup is pushing for the ‘Right to Nap’ at work and is installing siesta rooms in offices</a>

This Indian startup is offering a ‘sleep internship’ where you can nap for 9 hours and get paid ₹1 lakh

<ul><li><keyword id="5891223" type="UNKNOWN" weightage="20" keywordseo="Wakefit">Wakefit</keyword>, a sleep solutions company which manufactures mattresses, will install <keyword id="7181320" type="UNKNOWN" weightage="20" keywordseo="nap-rooms">nap rooms</keyword> in offices. </li><li>It has partnered with Rentomojo and Cloudnine hospitals to collaborate with organization for employee wellness.</li><li>A survey conducted by the company showed that Indians believe napping at work will help them stay alert. </li></ul>Welcome to the new age of Monday blues where Indian professionals might need a nap time at work, to help deal with stress. A survey conducted by Wakefit, a ‘sleep solutions’ company that produces mattresses, said that 86% respondents strongly advocated a nap room. They believe that it will help increase productivity. “Sleep deprivation has been linked to hypertension, cardiovascular disorders, fatigue and several other lifestyle issues. Given the rising sleep related issues in our country, we felt it was imperative for us to take action and encourage corporates and employees to rally for nap rooms at their workspaces,” said Chaitanya Ramalingegowda, co-founder and director of Wakefit.co. Right to Work Naps Now Wakefit is campaigning for the ‘Right to Work Naps’. It will also install siesta rooms at offices. It has partnered with Rentomojo and Cloudnine hospitals to collaborate for employee wellness. The nap rooms Wakefit intends to build will have their products that will aid spinal alignment, temperature management, optimal nap duration, preferred alarm tones, sleep tips for productivity, soothing color palette, the right lumina of light and optimal decibel of sound, and so forth. Many Indian startups where coders often work into late hours have nap rooms at their offices.

This Indian startup is pushing for the ‘Right to Nap’ at work and is installing siesta rooms in offices

<ul><li><keyword id="169284" type="ORGANIZATION" weightage="20" keywordseo="ASCI">ASCI</keyword> released <keyword id="8325366" type="UNKNOWN" weightage="20" keywordseo="new-draft-guidelines">new draft guidelines</keyword> to help consumers identify promotional content from user-generated content. </li><li>We reached out to brand experts and <keyword id="2540701" type="PERSON" weightage="20" keywordseo="Influencer-marketing">influencer marketing</keyword> agencies to understand what it would mean for the industry.</li></ul>To help consumers understand social media a little better, and in an attempt to make sure they understand what content posted by an influencer is an ad, the <keyword id="120108" type="COMPANY" weightage="20" keywordseo="Advertising-Standards-Council-of-India">Advertising Standards Council of India</keyword> (ASCI) has released draft guidelines for influencer advertising on digital media. Influencer marketing has been witnessing a steady growth in India in the past few years. Today, Indian audiences are watching more online videos than ever before. It was time to take a step forward towards building a transparent advertising ecosystem. <keyword id="6456080" type="COMPANY" weightage="20" keywordseo="nielsen">Nielsen</keyword> studies show that home-bound consumers have led to a 60% increase in the amount of video content watched globally. ASCI, in its statement said that the guidelines for influencers advertising on digital media will be available for all stakeholders, including industry, digital influencers as well as consumers for feedback till March 8, 2021. Based on the feedback and inputs, the final guidelines will be issued by ASCI by 31st March, 2021. This guideline will be applicable to all promotional posts published on or after 15th April 2021. We reached out to experts from the influencer ecosystem to understand the implications of the guidelines and how it will impact stakeholders, and here is what they had to say: <cmsannotation type="cmsannotation" annotationid="Arjun Mohan, CEO – India, upGrad" text="Arjun Mohan, CEO – India, upGrad">Arjun Mohan, CEO – India, upGrad</cmsannotation> A much-welcomed move by the ASCI, which has the potential to create a profound long-term impact affecting consumers’ trust in the overall concept of advertising. We realise the influencer marketing sector has seen exponential growth over the past decade and has also become a core of our brand-building efforts at upGrad. We look forward to the newly drafted guidelines which I’m sure will further make influencer marketing more transparent and also bring-forth better opportunities for brands to create responsible advertising for their audience, at large. <cmsannotation type="cmsannotation" annotationid="Chaitanya Ramalingegowda, Co-founder &amp; Director" text="Chaitanya Ramalingegowda, Co-founder &amp; Director">Chaitanya Ramalingegowda, Co-founder &amp; Director</cmsannotation><cmsannotation type="cmsannotation" annotationid="Wakefit.co" text="Wakefit.co">Wakefit.co</cmsannotation> We believe the new draft guidelines for influencer advertising on digital media suggested by ASCI is an extremely encouraging move. As more and more Indians get connected to the internet, they discover and interact with a multitude of brands on a daily basis. While these new guidelines will promote transparency, it will also elevate the level of trust between customers, influencers and brands. Given that brands and influencers are required to do a thorough due diligence about aspects like using filters and technical or performance claims made by a brand, it is likely to instil a sense of accountability and provide clarity to customers. <cmsannotation type="cmsannotation" annotationid="Ashwini Deshpande, Co-founder &amp; Director, Elephant Design" text="Ashwini Deshpande, Co-founder &amp; Director, Elephant Design">Ashwini Deshpande, Co-founder &amp; Director, Elephant Design</cmsannotation> An influencer garners a large follower base because of consistent &amp; aligned content for the kind of audience he/ she is aiming for. If the influencers want to continue getting followed by their audience, it is necessary for them to stay interesting and honest. Influencer marketing has reached a critical mass in India and it is the right time to have these clear guidelines from ASCI that protect consumers from being misled. The draft guidelines by ASCI which are open for public discussion for the next few days, have transparency at its core and should be welcomed by the advertising industry. The most important guideline on prominent labelling has been rightfully specified for each social media channel – will help the consumer from getting misguided by influencer advertisements. The guidelines have ensured three prominent things: • Any content where the brand has paid the influencer and has had reasonable control over the content needs to be called out as 'advertisement'. • Influencer must make it obvious that the content is an 'advertisement'. This should be a clear indication to the follower that the content has bias. • If the influencer is making some specific claims, they should be diligently substantiated by the advertiser or brand owner. <cmsannotation type="cmsannotation" annotationid="Kunal Kishore Sinha, Co-founder, ClanConnect" text="Kunal Kishore Sinha, Co-founder, ClanConnect">Kunal Kishore Sinha, Co-founder, ClanConnect</cmsannotation> ASCI’s newly issued guidelines for influencer marketing will unlock a wealth of new opportunities for the fast-evolving segment that will result in positive outcomes for the sector in the long run. When a major industry body such as the ASCI deems that there is a need to introduce guidelines for influencers and the influencer marketing community, it shows how the market has evolved and has assumed a mainstream stature in the larger advertising space. These guidelines will not only streamline the space and offer a direction but also ensure that there is an added sense of social responsibility amongst the influencer community. Needless to say, we welcome this move by the ASCI for the segment as it will act as a guiding light for new and established content creators, who will now be more mindful of the kind of content that they are bringing to their target audiences. An extremely positive move from the ASCI, these guidelines will act as a catalyst for more organized and structured platforms such as ClanConnect to set new benchmarks for the industry as a whole. Platforms such as ours will play a major role in assisting content creators in navigating through the various regulations and conform to them without any inadvertent missteps. With ASCI introducing these guidelines, the influencer marketing segment also joins the league of recognized and celebrated domains of the advertising ecosystem and indicates further growth and evolution for this space. <cmsannotation type="cmsannotation" annotationid="Apaksh Gupta, Founder &amp; CEO, One Impression" text="Apaksh Gupta, Founder &amp; CEO, One Impression">Apaksh Gupta, Founder &amp; CEO, One Impression</cmsannotation> We're elated to have been partners with the entire ecosystem and the regulatory body that is fostering a holistic approach towards digital advertising. Observing the paradigm shift from traditional to digital, it only coherent to have a transparent &amp; clear ecosystem laid out via the proposed ASCI guidelines, that is beneficial to both digital influencers &amp; consumers. We trust this will regulate &amp; filter out the misleading content, which is suggestive of a much healthier digital world out there! <cmsannotation type="cmsannotation" annotationid="Ankita Chauhan, Group Head Strategy, Tonic Worldwide" text="Ankita Chauhan, Group Head Strategy, Tonic Worldwide">Ankita Chauhan, Group Head Strategy, <keyword id="3671421" type="PERSON" weightage="20" keywordseo="Tonic-Worldwide">Tonic Worldwide</keyword></cmsannotation> As the word opinion leader suggests, influencers are leading opinion and influencing purchase decisions, across categories. A lot of time the content is promoted as a part of the larger story and seeded in subtly, making the whole placement look rather organic. However, consumers have full right to know what is paid and what is organic. It’s quite basic. I’ve observed several influencers labelling sponsored content and I think industry bodies making it a mandate only benefits the consumers at large. <cmsannotation type="cmsannotation" annotationid="Aayush Tiwari - Head of Talent Acquisition, Monk Entertainment" text="Aayush Tiwari - Head of Talent Acquisition, Monk Entertainment">Aayush Tiwari - Head of Talent Acquisition, Monk Entertainment</cmsannotation> I believe that the latest issued ASCI guidelines is a good step to secure the future of now one of the most popular ways of brand promotions - influencer marketing. As the guidelines states, consumers, here disguised as a follower, should have all the rights to know what's being uploaded organically and what's a paid advertisement. This declaration also will motivate the influencer to study about the brand/product and investigate their claims before they go all out publicizing them. Post formulation we'll surely see less cases of misleading advertisements, safeguarding both the consumer spends and influencers getting caught off guard for their claims - <cmsannotation type="cmsannotation" annotationid="Ankit Agarwal, Founder, Do Your Thng" text="Ankit Agarwal, Founder, Do Your Thng">Ankit Agarwal, Founder, Do Your Thng</cmsannotation> USA’s FTC and UK’S ASA both issued regulations years back outlining explicit do’s and don'ts for influencers. It was high time influencer marketing in India followed the same path. The lack of guidelines gave more oxygen to damaging content, and it chipped away the hard-earned trust in creators. When consumers know an ad is an ad or content just that – mere organic content, which is one of the rules in the draft: upfront labelling on ads; the confidence in a creator is not broken. When creators are authentic, including being straightforward about sponsored content, they make more impact and deliver deeper engagement. That’s why I have been vocal about the necessity for the entire niche to abide by advertising rules from day one. With this framework from ASCI, that hopefully comes into play in April, we finally move the needle on streamlining the sector that has been unorganised for far too long. <cmsannotation type="cmsannotation" annotationid="Ramya Ramachandran, Founder &amp; CEO, Whoppl" text="Ramya Ramachandran, Founder &amp; CEO, Whoppl">Ramya Ramachandran, Founder &amp; CEO, Whoppl</cmsannotation> In line with the latest regulation imposed by the ASCI, the need for total transparency in the realm of influencer marketing has been rightfully reaffirmed. In today’s time and age, when influencer marketing is growing at an unprecedented pace and almost everybody wants to become an influencer, it is the need of the hour to safeguard a consumer’s right to information and transparency. With major fiascos like the Fyre Festival, it has become urgently crucial to come up with influencer marketing strategies and content that are 100% credible and verified. Here at Whoppl, content is the hero for us and we have always ensured transparency by fully disclosing the influencer’s professional contract with us—by getting the sponsorship tag in place, for instance, wherever required. In fact, we always strive for a strategy wherein we ask the influencers to first try out the product/service, make their opinions and create authentic content as per their tonality, while also ensuring full disclosure of their partnership with the brand. <cmsannotation type="cmsannotation" annotationid="Jo Broner, WIBA Spokesperson (Paris)" text="Jo Broner, WIBA Spokesperson (Paris)">Jo Broner, WIBA Spokesperson (Paris)</cmsannotation> At the heart of it, ASCI is recognizing the digital influencer space as part of the mainstream industry now, which is very good news for the influencers. It is going to build more trust between the artists and their audience with increased transparency. It also means the marketers have to channelize verifiable information and not unverifiable marketing claims. Influencers connect with curated communities, who listen to them for the credibility they bring, so they have an inherent moral responsibility to not breach the trust of their audience, ASCI is bolstering it with new laws, and that is going to bring in due discipline in the environment, so it's a welcome move. <cmsannotation type="cmsannotation" annotationid="Divyanshu Damani, Co-founder of TagMango" text="Divyanshu Damani, Co-founder of TagMango">Divyanshu Damani, Co-founder of TagMango</cmsannotation> In this digital-age amid a plethora of marketing platforms, influencer marketing has carved its own niche. However, there was a need for guidelines that further enhances the trust of consumers in influencers. As the influencers also need to understand that when they partner with a brand, they share their own trust in the brand with their communities and audience. So, it becomes highly critical for them to only undertake the partnerships that they believe will positively impact their audience. Therefore, in my opinion, it is an extremely vital move. The guidelines issued will allow them to deeply evaluate the offering and the trust that they’re sharing. Furthermore, it would reduce the overall funnel of their brand partnerships and thus, push them to think about opting for sustainable monetary options which we are building at TagMango. <cmsannotation type="cmsannotation" annotationid="Pranav Panpalia, Founder, OpraahFx" text="Pranav Panpalia, Founder, OpraahFx">Pranav Panpalia, Founder, OpraahFx</cmsannotation> The ASCI guidelines are simple and easy to adhere to. The guidelines are more or less similar to the west. In the past couple of years, this has been thoroughly implemented by international influencers and I am happy to see India leading in the same direction. This will definitely make the digital ecosystem more responsible and streamlined. I am in complete agreement with all the points of the guidelines, especially with the fact that images and videos should not be altered or beautified by influencers while advertising on social media. Since digital media caters to a much more aware audience set, keeping it real is the only way to connect with them. Looking forward to a more transparent digital world. <cmsannotation type="cmsannotation" annotationid="Rajni Daswani, Director at SoCheers" text="Rajni Daswani, Director at SoCheers">Rajni Daswani, Director at SoCheers</cmsannotation> Influencer marketing is a $100 million industry in India now, and brands of all kinds - big or small - are benefiting from using influencers &amp; content creators to drive their business objectives. The fact that it’s been unregulated so far, we have seen some brands sneakily get away with things that would not be considered ethical if it were to be shown in a TVC or an OOH. The guidelines will serve as a good guardrail in these cases. However, on the flip side, the popularity of influencer marketing in a brand’s marketing budget is due to the flexibility of communication that allows them to showcase the benefits of their products &amp; services in different ways without it looking very promotional. Digital consumers today are smart enough to understand what is an Advert vs what is organic, and hence brands are willing to pay more to get their promotional material to look as organic as possible. With these guidelines kicking in, we might see the overall engagement and reach with influencers drop and might see it get the same status quo as a paid media ad on digital. I think while these guidelines are necessary, they should not be extremely stringent so as to avoid creating a dent in the overall influencer marketing industry that is growing at a faster pace than ever. <cmsannotation type="cmsannotation" annotationid="Ambika Sharma, Founder &amp; MD, Pulp Strategy" text="Ambika Sharma, Founder &amp; MD, Pulp Strategy">Ambika Sharma, Founder &amp; MD, Pulp Strategy</cmsannotation> The influencer industry is growing fast. According to digital marketing agency AdLift, India’s influencer market is estimated at $75-$150 million a year as compared to the global market of $1.75 billion. This is an industry that has become mainstream within the advertising space and is only expected to grow as more and more Indians are going online. It’s no wonder that brands across sectors are associating with influencers to get across their marketing messages. So, much of what influencers post is promotional and a lot of it is not identified as such. Such non-disclosure is a disservice to consumers and is misleading. With the guidelines, ASCI will assist consumers, brands and content creators to ensure all stakeholders’ interests are preserved through a self-regulatory approach. The digital space is huge and promotional content is often indistinguishable from regular posts. Consumers have the right to easily recognise promotional content. These guidelines will help the consumers to identify promotional content and also guide digital influencers. These guidelines will benefit the consumers and the digital influencers. <cmsannotation type="cmsannotation" annotationid="Gautam Madhavan, Founder &amp; CEO, MAD Influence" text="Gautam Madhavan, Founder &amp; CEO, MAD Influence">Gautam Madhavan, Founder &amp; CEO, MAD Influence</cmsannotation> I'm very happy with the new set of guidelines set by asci. It's good for business and shows Influencer Marketing in India is just going to grow more aggressively. This also helps consumers identify which content is commissioned and which is not , and accordingly their buying decisions is more rationale.

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