Saga

What if starting your own business didn’t require significant investments, warehouses, or a steep learning curve? What if you could turn your entrepreneurial dream into reality from the comfort of your home?

One platform has made this dream a reality, taking the world by storm. It’s helped millions—especially women and homemakers—start successful businesses with little to no investment. It’s not just changing lives; it’s shaking up the entire e-commerce game.

Are you curious about the $3.9 billion-dollar company behind this revolution? Read on…

Wasn’t Enough

Budding entrepreneurs Vidit Aatrey and Sanjeev Barnwal, a dynamic IIT Delhi alumni duo, had a big idea: Fashnear, a platform to connect local fashion retailers with customers for on-demand delivery.

The idea was fantastic on paper but didn’t work that way. Customers didn’t want to limit their shopping to their neighborhood stores, and retailers wanted to expand their reach but weren’t ready to jump into the e-commerce world just yet.

The E-Commerce Gap

Vidit and Sanjeev looked at the bigger picture of e-commerce — big players dominated cities, but smaller towns and villages were left behind.

Shopkeepers and resellers sold products on WhatsApp but were stuck with local deliveries. Women sold products on Facebook and WhatsApp but couldn’t scale up their businesses.

A huge opportunity to empower these small businesses became clear. So, in late 2015, Meesho (meri shop in Hindi) was born to help anyone, especially those with insufficient funds, start their own online business.

For Small Businesses To Sell

Meesho made selling online easy for small shops, manufacturers, and resellers. Women and other resellers could start businesses from home without worrying about stocking up.

The platform handled everything—shipping, cash-on-delivery, and returns—so suppliers could focus on what they do best: creating and selling great products..

The Key to Success

Meesho faced one of the toughest challenges, earning the trust of small businesses and resellers for an online-only platform.

Many were skeptical, but Vidit and Sanjeev kept it simple and user-friendly.

They even held workshops and shared success stories to inspire and educate resellers, going the extra mile to win them.

A Thriving Community

The focus on empowering small businesses and individuals paid off. The platform quickly became a favorite for resellers, especially from smaller cities and rural areas.

Resellers saw a chance to earn extra money and were excited to be part of Meesho’s journey. By building trust and transparency, Meesho proved itself to be a reliable partner for its resellers.

To Big Dreams

Vidit and Sanjeev saw a bigger opportunity with the platform’s rising popularity. They decided to transform Meesho into a full-fledged e-commerce platform, offering various products at affordable prices.

However, the big question was managing logistics and inventory on a much larger scale. Meesho tackled this by partnering with third-party logistics providers and streamlining their supply chain.

Led To A Big Vote of Confidence

Meesho’s innovative approach and rapid growth caught the eye of big investors.

In 2019, Facebook made history by investing directly in Meesho, the first Indian startup to receive such a significant investment. By 2023, the platform had raised over a billion dollars.

This massive investment helped the company expand its product range, upgrade its technology, and improve customer service.

The Challenges of Evolution 

While Meesho grew bigger, rising costs, logistics, and competition from giants like Flipkart and Amazon made things more challenging.

To tackle these, Meesho changed its game plan and shifted from a social commerce model to a direct-to-consumer one.

While this meant reorganizing the business, it unfortunately led to layoffs.

On Organic Growth

Meesho prioritized sustainable growth, focusing on organic strategies like word-of-mouth referrals, building strong customer relationships, and working closely with suppliers to optimize pricing while maintaining high standards.

Data analytics helped the company to predict demand trends and make informed decisions.

Catering to Diverse Needs

Unlike traditional e-commerce platforms focusing mainly on urban areas, Meesho tailored its offerings to match users’ tastes, preferences, and purchasing power in smaller towns and rural regions.

This hyper-local approach shined through in its product catalog, featuring items designed to suit regional and cultural preferences.

Meesho’s Growth Story

Meesho’s business approach has taken the Indian e-commerce scene by storm today. With 50 lakhs+ products across 650+ categories, it caters to 14 crore+ customers.

Powered by a network of 11 lakh+ sellers and reaching over 19,000 pin codes, Meesho is a major player in the Indian market.

Partnering with over 20,000 manufacturers from 500+ towns, it offers a diverse and ever-growing product range.

Future Ahead

Meesho is on an incredible journey, but balancing growth with profitability is challenging.

With its strong brand and unique approach, it’s got everything it takes to stay ahead—whether that means expanding globally, improving logistics, or adding exciting new products.

The future looks bright for this e-commerce trailblazer!

Do you need an ingredient delivered in 10 minutes? No problem. Do you urgently need groceries or a package to send across town? Easy. Everyday inconveniences no longer need to disrupt your plans or add stress. Thanks to this must-have service that’s transforming the way we live.

This $11.3 billion company has redefined convenience and efficiency, seamlessly meeting needs at the tap of a button. Let’s discover how this brand disrupted the market and became a household name, delivering more than just goods—it delivers peace of mind.

Want to know more? Read on

A Shared Vision at BITS Pilani

It began with with Harsha Majety and Nandan Reddy, meeting as students at BITS Pilani.

Harsha, a senior passionate about photography and travel, became close friends with Nandan through shared activities on campus.

The two were drawn to the world of entrepreneurship. After a memorable backpacking trip across Europe, Harsha returned to India ready to explore new ventures.

Together, Harsha & Nandan brainstormed ideas in e-commerce, setting up their first startup, Bundl Technologies.

A Valuable First Attempt

Bundl was their initial foray into the startup world. It is a logistics service aimed at helping small and medium businesses handle shipping.

However, the market proved challenging, as Bundl’s logistics service couldn’t gain enough traction.

So, Harsha and Nandan decided to shut down Bundl and return to the drawing board, a choice that laid the groundwork for their next, game-changing idea.

A Niche in Food Delivery

While working on Bundl, Harsha and Nandan observed the demand for reliable, quick delivery services.

They realised many restaurants couldn’t meet customer expectations for speed or affordability.

Existing food delivery options required high order minimums, inconsistent service quality, or took too long to deliver.

They had faced delivery issues whenever they ordered in. That’s how the idea of their next venture was born. It named Swiggy because it was short and catchy.

Bringing the Idea to Life

Harsha and Nandan realized that a strong tech foundation was essential for Swiggy’s success.

Through a mutual friend, they met Rahul Jaimini, a skilled engineer at Myntra, who shared their excitement.

Rahul joined as Swiggy’s third co-founder, and the team was ready to tackle the food delivery landscape.

The Koramangala Chapter

Swiggy began in 2014 with a small team operating out of Koramangala, Bengaluru. Initially, the team focussed on a select group of 15-20 good restaurants without delivery services.

They distributed pamphlets near popular food joints and even took it upon themselves to deliver food orders, capturing photos of dishes to list on the platform initially.

At first, Swiggy was just a website with no mobile app, and traction was low. However, word-of-mouth referrals and a growing base of repeat customers gradually fueled Swiggy’s growth.

Restaurants started recognizing the potential of partnering with Swiggy. The team actively engaged with restaurant owners educating them about the benefits of online food delivery to encourage adoption.

Setting a New Standard

Swiggy’s logistics-focused approach set it apart. While other services took an hour to deliver, Swiggy committed to a 30-minute delivery time.

The team only partnered with high-quality restaurants that lacked delivery services, allowing Swiggy to be a reliable partner in quickly delivering great food to customers.

This strategy resonated with customers and gave Swiggy a strong foothold in the local food scene.

And Overcoming Challenges

The growth was encouraging, but it also brought its challenges. By April 2015, Swiggy was still operating as a small team with only a few delivery partners.

In the early days, the founders wore multiple hats—Nandan handled sales and customer support, Harsha made deliveries himself, and Rahul oversaw tech.

They needed help managing the budget to build an HR team, but they persevered, refining their model and focusing on customer satisfaction.

From the Struggles of Bundl

The lessons from Bundl helped Swiggy’s founders avoid the pitfalls they had experienced in their first venture.

They knew having a strong technical team and a clear focus on market fit was important.

This time, their persistence paid off, as the service started gaining traction with customers and restaurant partners who saw Swiggy as a valuable source of orders.

Boost Led to Swift Growth

Swiggy began with a $2 million seed investment from Accel and SAIF Partners. This early funding allowed Swiggy to lay the groundwork in technology and operations, leading to swift growth.

Over the years, the company has received $3.8 billion in funding over 19 rounds, cementing its status as one of India’s major food delivery platforms.

Expanding Beyond Koramangala

With growing popularity, Swiggy expanded to other parts of Bengaluru, and across India. By dec 2015, Swiggy had expanded reach, its team, and developed a mobile app to improve accessibility.

In its first three years, Swiggy expanded to seven cities. Key members, including founders Sriharsha Majety, Nandan Reddy, and Phani Kishan, envisioned transforming Swiggy into a comprehensive urban convenience platform targeting a 500 million-user base.

As of April 2024, Swiggy had partnered with over 150,000 restaurants and employed over 260,000 delivery executives, with a presence spanning 500+ cities across India.

The company’s valuation now stands at an impressive $12.7 billion, underscoring its position as a leader in the Indian food delivery landscape.

Digital Marketing Model of Swiggy

Swiggy’s digital marketing strategy focused on capturing the 18-35 age demographic, composed mainly of students and working professionals who have easy smartphone access and rely on quick meals.

Through targeted online campaigns, Swiggy established a strong digital presence that helped it connect with this audience effectively.

The company used digital marketing techniques, including SEO, social media, and email marketing, creating a successful model that stood out for its creative and relatable campaigns.

Through the Pandemic

During the pandemic, Swiggy innovated with Swiggy Genie, a pick-up and drop-off service, to help users send and receive items across town.

Later, Swiggy introduced Instamart, a quick-commerce grocery service to meet the surge in demand for essentials, contactless delivery, regular sanitization to ensure customer and delivery personnel safety.

Swiggy Access, a cloud kitchen let restaurant partners reach more customers without physical storefronts, adding user convenience and growth opportunities for partners.

Swiggy introduced EcoSaver, a program focused on sustainable practices. It reduced fuel consumption and carbon emissions by grouping or scheduling deliveries, aligning its model with eco-friendly practices, and improving delivery efficiency.

Rivals and Market Shifts

With intense competition in food delivery and quick commerce, food delivery giant contended with Zomato and new players like Zepto.

Despite leading in funding rounds, Swiggy faced valuation shifts and disruptions typical of fast-evolving digital businesses.

Missteps and Adjustments

The food delivery giant faced challenges expanding into tier-II and tier-III cities. Unlike its initial in-house delivery model, it tried franchising to match Zomato’s reach.

However, quality issues led to the eventual dismantling of the franchisee model, letting Zomato strengthen its position during the pandemic.

It appointed Rohit Kapoor, former India CEO of Oyo, focused on cost management, restructuring, and scaling operations beyond the top 30 cities with executives regularly visiting tier III and IV cities to boost local engagement, that let the company double its advertising revenue.

Acquisitions Adding To Growth

Amidst restructuring, Swiggy made strategic acquisitions, including Lynk Logistics for FMCG distribution and a stake in mobility platform Rapido.

The acquisition of Dineout strengthened food delivery giant’s move into table reservations, aiding Swiggy’s ongoing efforts to diversify and solidify its market position.

Swiggy IPO

The food delivery giant geared up for its IPO with momentum. For FY24, it reported a solid 36% increase in operating revenue to INR 11,247 crore, coupled with a significant 44% reduction in losses to INR 2,350 crore.

Through the year’s first three quarters, the company generated INR 5,476 crore, though losses stood at INR 1,600 crore.

Swiggy today is listed on the stock exchanges at a premium from its subscription price.

A Bold Future

As the food delivery giant enters this pivotal chapter, it aims for a valuation near $15 billion in its stock market debut, seeking to raise $1–1.2 billion.

A recent adjustment has set its valuation between $12.5–13.5 billion, positioning it for one of the year’s largest IPOs.

This step is more than just a listing; it signals the company’s commitment to growth and innovation, strengthening shareholder value, and reinforcing its leadership in food and rapid commerce.

Parenthood is a beautiful journey, but it can also be incredibly overwhelming. New parents find they have umpteen choices, from the smallest diaper to the biggest stroller, creating confusion. For the longest time, meeting children’s needs depended on their parents, families, and friends. The baby products industry was ripe for a revolution in this disorganized landscape.

A parent with a vision to bring order and ease to the lives of new parents decided to fill this gap. This $2.7 billion powerhouse has revolutionized how parents shop, offering a one-stop solution that caters to every need, from the tiniest tot to the curious toddler.

Curious to know more about this game-changer? Read on…

From A Parent’s Frustration

Supam Maheshwari, a seasoned entrepreneur, was tired of constantly searching for quality baby products in India, only to be met with limited options.

Frustrated by this lack of options for children, inspired him to create a one-stop solution for all a parent’s needs.

Maheshwari’s first venture, Brainvisa Technologies, an e-learning startup that faced challenges during the dot-com bubble. However, this didn’t deter him.

With his partner Amitava Saha, an experienced entrepreneur, he decided to leverage their expertise to tackle the gap in the Indian baby care market.

Together, they founded FirstCry in 2010, a platform designed to simplify parenting offering a wide range of high-quality baby products.

A Name That Resonates with Parents

The name “FirstCry” was carefully chosen to capture the essence of parenthood and the brand’s mission to provide everything a baby needs. It resonated with parents looking for a trusted source for their most precious possessions.

Jan 31, 2021

Innovating Baby Essentials

The Indian parenting landscape was evolving. Nuclear families became more common, and parents sought convenient and trustworthy options.

FirstCry entered the market at the perfect time, offering a wider selection of baby care products.

In The Baby Retail Market

However, conquering the baby care market was challenging. Over 90% of the market was dominated by traditional, offline retailers.

FirstCry’s initial strategy involved online distribution from warehouses across major cities.

To offer parents even more choices, they partnered with local retailers, bringing FirstCry’s products to familiar neighborhood store.

Creating Brands That Nutured Children

FirstCry understood that parenthood was more than just buying products. They launched two private labels, BabyHug and CuteWalk, offering high-quality apparel and footwear.

Additionally, they established “FirstCry Parenting,” a vibrant online community where parents could connect, share experiences, and access valuable resources.

Pioneering Their Way To Success

FirstCry became one of the first online retailers in India to recognize the power of physical stores.

In 2012, they started opening offline stores, allowing parents to touch and feel products before buying. Today, they boast over 400 stores across India, offering an integrated online and offline experience.

The Heartfelt Gesture

FirstCry goes beyond just selling products. Their “FirstCry Box” initiative highlights their commitment to parents.

This thoughtful program distributes complimentary gift boxes containing essential items to new parents in over 6,000 hospitals across India.

It’s a small gesture with a big impact, strengthening FirstCry’s reputation as a caring brand.

Stats Tell the Story

FirstCry has grown exponentially, offering a staggering range of over 200,000 unique products from 5,800+ brands. Its physical presence is equally impressive, with over 380 stores across India. 

Beyond products, FirstCry has cultivated a thriving online community of 13 million monthly users, creating a space for parents to connect, share experiences, and access valuable resources.

The FirstCry app has been downloaded over 10 million times, making it the go-to destination for parents in over 125 cities.

Offering a Complete Baby Care Solution

FirstCry has strategically partnered with renowned personalities and brands to enhance its image and reach a wider audience.

Amitabh Bachchan, a legendary figure in Indian cinema, serves as the brand ambassador, lending his credibility and star power to FirstCry’s campaigns.

The company has also collaborated with Bollywood actress Lara Dutta to launch ARIAS, an eco-fashion brand for children.

ARIAS focuses on creating sustainable and stylish clothing, aligning with the growing demand for eco-friendly products.

Addressing The Need Gap

The baby care industry is a complex landscape filled with unique challenges. Every aspect requires meticulous attention, from warehousing and logistics to the delicate nature of baby products.

The diverse range of products, from tiny diaper pins to bulky car seats, presents significant operational hurdles.

Moreover, the fragmented market, dominated by unorganized players, adds complexity.

To succeed, businesses must offer a wide range of products, competitive pricing, and exceptional customer service.

For the Future

FirstCry received investments from SoftBank, Late Sir Ratan Tata, Premji Invest, Mahindra & Mahindra, and TPG Growth, making it a unicorn. 

This financial backing let the company expand its operations, invest in technology, and acquire strategic assets at a $2.7 billion valuation.

Firstcry acquired BabyOye, a leading online retailer of baby and maternity products, to strengthen its market position and expand its product range.

They acquired Oi Playschool to foray into the early childhood education sector.

Solidified via Quality & Reliability

FirstCry has established a strong foothold in the Indian baby care market, becoming synonymous with quality and reliability.

While it faces competition from online giants like Myntra, Amazon, and local retailers, FirstCry’s robust brand presence and diverse product offerings have enabled it to maintain a leading position.

Advancing Toward a New Era

FirstCry successfully listed at a 40% premium on the stock markets in August 2024, marking a milestone in its journey.

Its YouTube channel now stands as India’s largest parenting platform, offering support and insights to millions. 

FirstCry plans to expand its reach with 380 new stores PAN India over the next three years, including exclusive brand and multi-brand outlets, and also enter the Middle East.

Come Diwali and home decor became a focus for several households. However, choosing home furnishings, especially curtains, was always mundane. The women focused on finding fabrics that matched the walls, fit the budget, and didn’t demand much thought. 

As tastes changed, people started aspiring to elevate their homes with a premium look. Not many offered premium fabrics, but one company provided what many were looking for—a stunning range of fabrics that made uber-chic possible without hassles.

This company revolutionized the industry, captivating domestic and international markets. It is an Indian brand that now has a staggering 15,000 crore turnover and a global footprint spanning over 65 countries.

Are you curious about the story behind this iconic ‘Made in India’ brand? Read on.

Into the Unknown

The Arora brothers, Ajay and Sanjay, worked in their family’s business that manufactured affordable imitation silk for women’s wear. Despite their dedication, they struggled to stand out in a fiercely competitive market.

The brothers noticed a growing demand for unique, high-quality fabrics, especially in international markets.

Though demand surged, few brands catered to this need for distinctive home furnishing fabrics. Inspired by this potential, Ajay set out on a transformative journey.

He immersed himself in the European textile industry, attending Heimtextil in Frankfurt and exploring the design houses of Como, Italy.

This international exposure ignited a vision: to create a brand focused on premium home furnishing fabrics—D’Decor. Leaving the family business behind, the brothers embarked on this ambitious venture.

A Digital Leap

The Arora brothers knew they needed a technological edge to compete globally. So, they invested in state-of-the-art European machinery, to produce high-quality fabrics with incredible precision and variety. 

D’Decor was one of the first Indian companies to digitize its manufacturing process, that led to faster production, reduced waste, and consistent quality.

This blend of traditional Indian craftsmanship and modern technology proved a game-changer, and their designs soon caught the attention of the Indian and international markets.

Indian Fabrics to Global Fame

Mid-2000s saw D’Decor ready to conquer the world. Their fabrics adorned homes in Europe, the US, and beyond, solidifying their reputation for quality and innovation.

A significant milestone was achieved when D’Decor became the world’s largest producer of curtain and upholstery fabrics, showcasing India’s manufacturing prowess on the global stage.

The Storm of Recession

The 2008 global recession hit D’Decor hard, with the US market accounting for a significant portion of its sales.

The Arora brothers strategically decided to expand into Europe and India to navigate the recession-led challenges.

This diversification not only boosted their global presence but also created a stable consumer base.

Consumer Experience

Focused initially on wholesale curtain and upholstery fabrics, D’Decor entered the consumer market in 2010.

This expansion introduced a more comprehensive range of home textiles, including bedding, towels, blankets, blinds, rugs, and wallpaper.

The company acquired its largest distributor and implemented a subscription-based model for sample books and catalogs, eliminating the need for retailers to maintain inventory and streamline its B2C operations.

From Bollywood and Beyond

Every brand needs a face, and for D’Decor, the perfect ambassador came in Shah Rukh Khan and Gauri Khan.

In 2010, the Khans became the brand ambassadors for D’Decor, bringing the brand into the limelight across India adding a glamorous touch, resonating with millions of households looking to beautify their homes.

Shah Rukh Khan’s image as a global icon helped the brand reach affluent Indians, NRIs and international buyers.

From Market Fluctuations to COVID-19

No success story is without its fair share of challenges. The global textile market is highly competitive, and keeping up with changing trends and customer demands was challenging.

D’Decor had to constantly innovate to stay ahead and overcome fluctuating raw material prices, shifts in fashion trends, and global economic slowdowns. Another major hurdle was the pandemic.

But there was a silver lining amidst these troubles. With people at home more, there was renewed interest in home décor. D’Decor quickly capitalized on this trend.

They ramped up their online presence, offering customers the convenience of shopping from home.

Making a Conscious Choice

As environmental awareness grew, D’Decor embraced sustainability. They minimized their environmental impact with eco-friendly practices, from sustainable materials to reduced water consumption.

This commitment earned them a loyal following who valued aesthetics and responsibility.

A Legacy of Recognition

D’Decor isn’t short on accolades. It’s consistently won awards for export performance and has been recognized by architects and interior designers.

D’Decor is also a tech leader, using automation and digital platforms to optimize production. It was the first Indian textile company to embrace the Automatic Storage and Retrieval System.

Décor Excellence

D’Decor has embraced advanced technologies to streamline operations and improve efficiency. Automation, performance management software, and digital platforms have been crucial in optimizing production processes.

The company has invested in automated machinery, such as warping and dyeing machines, to enhance productivity and reduce defects. They used real-time inspection and computerized processes to keep a check on quality.

D’Decor was the first Indian textile company to implement the Automatic Storage and Retrieval System (ASRS), showcasing its leadership in industrial automation.

Today, D’Decor is known globally. Their range of products now has bed linens, cushions, rugs, and wallpaper, making them a one-stop shop for home décor needs. With over 1,500 retail outlets worldwide, the brand continues to grow and innovate.

Charting New Territories

D’Decor Home Fabrics has ambitious plans for the next decade. The company aims to expand its sales network and product offerings within India, targeting new markets such as ready-made and furniture manufacturers.

D’Decor seeks to gain valuable insights and develop a more comprehensive home solution for Indian consumers by replicating its successful partnering strategy with global brands in these channels.

Who didn’t love Diwali as a kid? It was the ultimate blast—literally! Bursting firecrackers with friends and family, homemade Besan Ke Laddu and Chakli, rangolis, and the warm glow of Kandel. And let’s not forget Diwali shopping. All this made the dreadful Diwali ki safai worth it.

Fast-forward to today. The festival of lights is now bigger, brighter, and more extravagant. Homemade sweets have given way to bespoke mithai boxes, DIY decorations for designer lights, and local market shopping to mall-hopping and online shopping. The numbers say it all—Diwali is now a staggering Rs 3.75 lakh crore market.

So, what has driven this explosive growth? Let’s take a look!

The Roots of Diwali

From Lord Ram, Lakshman, and Sita’s return to Ayodhya after 14 years in exile to Krishna defeating Narkasura, Lord Mahavir’s spiritual awakening, and Goddess Lakshmi’s birth, the five-day fervor has taken over India for different reasons for centuries.

Diwali gained prominence during the ancient kingdoms of India between the 4th and 6th centuries. Early Hindu texts, like the Skanda Purana, mention its significance.

Kings Blending Traditions

From 1526 to 1857, emperors like Akbar and Shah Jahan participated in Diwali celebrations during the Mughal Empire.

Rajput kingdoms from the 16th to 19th century also enthusiastically observed the festival, blending Hindu and Islamic traditions.

From Colonial Times

The British influence introduced new elements to the festival, such as Western-style fireworks. Beyond a religious festival, Diwali became a time for social gatherings and community events.

As India gained independence, it became a national festival celebrating rich cultural heritage.

Regional variations, like Naraka Chaturdashi and Kali Puja, showcased India’s diversity.

Businesses and artisans flourished with yearly purchases of new utensils, clothes, and diyas, whitewashing the house, feasting, and exchanging sweets and gifts. 

Changed The Festival Economy

With the Liberalization, Privatization, and Globalization (LPG) reforms introduced in 1991, people had more disposable income and increased spending power.

The digital revolution of the mid-2000s marked the beginning of an e-commerce era, unleashing a buying frenzy that continues to grow.

As most festival sales now happen online, marketplaces have made total sales of Rs.55,000 crore in just the first week of October.

During Diwali Shopping Spree

Diwali brings in big sales not just for big brands but also for small and medium businesses. In the 2023 Amazon Great India Festival, SMEs saw a 35% sales jump.

Over 38,000 sellers hit their highest single-day sales, 750 sellers earned crores, and 31,000 made lakhs. With 1.1 billion visits and 80% sales from Tier 2/3 cities, the festival economy has grown significantly online.

Of Diwali Celebrations

From ‘green’ firecrackers to the humble Sonpapdi making way for Gulab jamun parfait or Kaju Katli changing to chocolate-filled versions, Diwali has modernized, and the celebrations are grander than ever.

Sample this: the sweets market share is more than Rs.1.25 lakh crore. What’s Diwali without gifts?

Right enough, the gifting market is pegged at a whopping Rs 300,000 crore globally, of which India has a share of Rs 200,000 crore, with corporate gifts at Rs 12,000 crore.

Has Turned Festival of Spending

The splurge will only get bigger in Diwali 2024, with celebrators expected to spend an estimated Rs 18.5 lakh crore, compared to last year’s Rs 3.75 crore. Many households will spend more than Rs 10,000, with 40% on home decor and 38% on fashion and beauty. 

Although the celebrations have changed, Diwali shines bright on businesses, the festival’s true spirit is still about mithai and togetherness!

We’ve all been there. The gym membership, the strict diet, the unwavering determination to achieve our fitness goals. But the charm of biting into that tempting cake or the irresistible samosa often derails our efforts. The following guilt is a constant reminder of our failures.

Millions of Indians face this daily struggle, a battle against their bodies and minds. This universal experience sparked a life-changing experiment for two brilliant minds. They set out to create a solution, a tool that would empower millions to take control of their health, one calorie at a time, without guilt.

Curious to know how they did it? Read on

Indian Eating Habits Experiment

Tushar Vashisht and Mathew Cherian, graduates of prestigious institutions like the University of Pennsylvania and MIT, respectively, followed familiar paths—investment banking and tech. Their lives took a surprising turn in 2007 when they both joined Nandan Nilekani’s Aadhaar project.

While working on Aadhaar, Tushar and Mathew became fast friends. They noticed the widespread malnutrition plaguing India. Driven by this awareness, they embarked on a unique experiment.

To understand average Indian eating habits, they limited themselves to living on just Rs. 100 per day, excluding rent.

This experience highlighted a significant challenge—the lack of accurate calorie information for typical Indian foods. This lack became the spark—to bring digital nutrition and fitness services to a billion Indians.

Breaking Barriers, Building Trust

In 2011, the seeds of HealthifyMe were sown in a modest Delhi farmhouse.

Gaining the doctor’s trust was a key obstacle to the novel calorie counting and food tracking concept at the time.

Tushar resorted to unconventional measures by booking consultations with diabetologists to seek treatment for himself, only to present his business idea.

They initially focused on partnerships with hospitals, granting access to paying customers visiting doctors, which let them demonstrate HealthifyMe’s effectiveness in helping patients achieve their health and fitness goals.

A Name and Direction

Lacking a defined business model, Tushar and Mathew turned to Kunal Bajaj, a wise friend and mentor, for invaluable guidance, who steered the company during its early stages.

Initially named Caeruz Ventures (derived from Kyros, the Greek god of luck), the company faced a branding dilemma.

The name was difficult to pronounce and lacked relatability. A brainstorming session produced several potential names, from 1clickhealth to menumash.com, before they finally settled on HealthifyMe.

South and Moving Forward

HealthifyMe’s journey began in 2012, when, thanks to angel funding from Microsoft Accelerator, they found themselves in Bangalore’s bustling tech hub.

With Matthew returning to the United States, Tushar needed a new partner to spearhead the company’s technical development. Sachin Shenoy, a seasoned tech entrepreneur passionate about consumer-facing businesses, stepped up.

Joining as co-founder and head of engineering, Sachin brought his expertise to the table, filling the void left by Matthew’s departure.

A Cultural Shift

Sachin’s influence extended beyond technology. He championed a “product first” and “engineering first” culture, setting new benchmarks for quality and maturity within the team. This cultural shift would define HealthifyMe’s identity in the years to come.

Tushar took a calculated risk by hiring two interns, Rohan and Sudha, with the promise of employment for the most promising candidate. While Rohan excelled, the company soon faced a financial crisis, forcing a 30% salary cut.

Rising above these challenges, the team remained focused on its goal. It pivoted to an app-based strategy, investing significant effort and resources into building its first Android app.

Mukund, a talented engineer, joined the team and played a crucial role in the app’s development and subsequent upgrades.

Turning Over a New Leaf

Despite reaching 50,000 users, HealthifyMe struggled to monetize its services.

A corporate wellness conference in Goa provided a much-needed boost. Surprisingly, the founders discovered a strong advocate base for HealthifyMe among the conference attendees. This unexpected validation fueled their determination and provided a renewed sense of purpose.

In June 2014, HealthifyMe moved to a new office and made several strategic hires, strengthening its team and positioning it for future growth. However, the company’s “product first” focus was causing a major roadblock.

This led to a critical financial crisis in July 2014, forcing the company to halt three-month salary payments. Remarkably, no employee left the company, demonstrating their unwavering commitment.

A Pivotal Shift

The financial crisis forced Tushar to reassess the company’s priorities, shifting the focus from “product first” to “business first.” Through experimentation, they discovered that nutritionist and trainer services were a viable revenue stream.

The Nikhil-Rosh combination was crucial in developing robust sales and service machinery, leading to a monthly revenue of 3 lakhs by the end of 2014.

This newfound ability to monetize attracted the attention of high-net-worth individuals (HNIs). Tushar successfully raised INR 4 crores. With this fresh funding, HealthifyMe launched its iOS app in January 2015 and secured a corporate partnership with Philips four months later.

Product Excellence

Throughout 2015, HealthifyMe’s revenue continued to climb thanks to rigorous execution and a focus on sales and service excellence.

Swati, a product manager, played a pivotal role in enhancing coach efficiency and elevating the Nutrilab product, which provided micro-nutrient mapping for Indian foods. Her contributions would later be instrumental in HealthifyMe’s AI initiatives.

Recognizing the importance of customer satisfaction, Tushar implemented a process requiring each leadership member to engage in three customer conversations per week.

This direct interaction provided valuable insights and ensured the company remained grounded in customer needs.

AI to the Rescue

Focusing on profitability, Tushar and Sachin initiated Project “Amadeus,” which aimed to leverage AI to streamline sales and service processes.

This led to the development of “Ria” and “Jarvis,” AI-powered nutritionist and coach assistant tools, along with wearable integrations like Fitbit, YuFit, MiBand, and HealthifyMe fitness brand called RIST.

The app would sync effortlessly with wearable devices, giving instant feedback and tracking to motivate the user. It also built a lively community with fun support and challenges, making the wellness journey exciting and rewarding.

Wellness Partner

Imagine having a team of experts at your fingertips, ready to guide you to a healthier you. That’s what HealthifyMe offers.

As a comprehensive health and fitness platform, HealthifyMe goes beyond just tracking calories. It’s a lifestyle tracker, a social community, and a personalized coach all rolled into one.

With HealthifyMe, you can connect with like-minded individuals, track your diet and exercise, and receive expert guidance from nutritionists, fitness experts, and yoga instructors—all at a fraction of the cost of traditional services.

India’s Health Insights

In 2017, HealthifyMe published “India’s Year of Nutrition” and “India’s Year of Fitness,” leveraging its vast dataset. These reports garnered attention from the media and government, leading to policy discussions with Niti Aayog and Prime Minister Modi.

HealthifyMe’s “Orbit Change” initiative yielded substantial growth later that year. By January 2018, it had surpassed 1 million MAUs and 4 million lifetime users and achieved INR 2 crore in monthly consumer revenue.

In Challenging Times

During the COVID-19 pandemic, HealthifyMe stepped up to support its users. The company introduced a free Immunity Assessment Test on the app and free consultations for those with low immunity scores.

Additionally, HealthifyMe offered home workouts, daily live workouts with coaches, and trackers for sleep, smoking, and hand washing.

These services, accessible under the “Immunity Tab,” were instrumental in helping users stay healthy and resilient during the crisis.

HealthifyMe’s efforts were widely recognized and appreciated, with many users expressing gratitude for the support provided during this challenging time.

Trust & Standing Tall  

With over 10 million downloads and a user base of 25 million, the app has become a trusted companion for millions seeking a healthier lifestyle.

Backed by $130.25 million in funding raised across 13 rounds, HealthifyMe offers personalized guidance and support to its users through a network of 1,500+ dedicated coaches.

The app’s exceptional quality has earned it recognition from leading tech platforms. It has a 4.6/5 rating on the Play Store and multiple features from Google and Apple.

HealthifyMe’s Roadmap

HealthifyMe, ever evolving, has exciting plans in the pipeline. Advanced AI features for personalized nutrition and fitness advice are on the horizon.

New workout plans and expanded local food databases will enhance the app’s capabilities.

The company aims to expand its reach into Southeast Asia and the Middle East to cater to a global audience, adapting its offerings to suit regional preferences.

From seamless fitness tracking with Fitbit and Garmin to corporate wellness programs and dietary supplement recommendations, HealthifyMe is committed to providing a comprehensive wellness experience.