The latest entrant into the billion-dollar club of Indian startups is Shopclues, a popular online marketplace with its headquarters in Gurgaon. The club, that boasts of some of the best entrepreneurial minds in the country, has eight startups till date bolstered by the feeling that the startup culture in the country is steadily gaining roots.
Days ahead of Prime Minister Narendra Modi’s ambitious launch of ‘Startup India, Standup India’ ( a government program that aims to fill the gaps in the economy for the growth and development of startups), we take a look at this billion dollar club and its celebrated members.
Flipkart – Valued at $15 billion
Sitting at the top and much ahead of the rest is Flipkart, the e-commerce giant founded by Sachin and Binny Bansal in 2007. The company, that boasts of 30 million products across more than 70 categories on its desktop, mobile and app platforms, is valued at $15 billion. It also claims to be the first billion dollar company in the Indian e-commerce market, that has shown significant growth across the years. Flipkart says it makes 8 million shipments in a month.
Snapdeal – Valued at $5 billion
Giving Flipkart good competition is Snapdeal, another e-commerce giant whose popularity is soaring by the day. Ranked second in the club with a valuation of $5 billion, Snapdeal was founded by Kunal Bahl and Rohit Bansal in 2010. The company claims to put on display more than 10 million products across multiple categories and ships to at least 5,000 towns and cities in India. The company was also in the news last year for its latest round of funding, in which it raised $500 million from investors such as Alibaba Group and Foxconn.
Ola – Valued at $5 billion
Along with e-commerce, ride-sharing apps have been a major success over the past couple of years in India. Ola, a mobile app for personal transportation, was founded in 2010 by Bhavish Aggarwal and Ankit Bhati and is now valued at $5 billion. Although dogged by controversies involving drivers who have been reported of errant behaviour, Ola has done really well supplying cars in all segments from economical to luxury. In the latest round of funding in November, 2015, Ola announced that it raised $500 million from investors.
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Paytm – Valued at $2 billion
Another company that has found a place in the billion dollar club with valuation of $2 billion is Paytm, a mobile commerce platform that initially started by offering mobile and DTH recharges. The company claims to have 100 million registered users on its website and 60 million orders per month. It was in 2014 that Paytm started offering products on its sites for users to purchase like other e-commerce platforms. Users can now pay their electricity and gas bills as well through Paytm.
Quikr – Valued at $1.5 billion
Anyone who has traded in second-hand goods online would have heard of Quikr, which is valued at $1.5 billion. It is a classified advertising platform that was founded by Pranay Chulet in 2008. The company, that has its headquarters in the IT city of Bengaluru, reported 12 million listings in 2013. Earlier this week, Quikr acquired Commonfloor, a real estate portal.
Shopclues – Valued at $1.1 billion
An online market place founded by Sanjay Sethi and Sandeep Aggarwal, Shopclues has been in the news for its entry into the billion dollar club and a new round of undisclosed funding. The website claims to cater to 42 million visitors every year with 12,000 registered merchants. The emergence of Shopclues also points to the vibrancy of the e-commerce market that has seen the entry of global giants like Amazon which wants to tap into India’s massive consumer base.
InMobi – Valued at $1 billion
Founded in Bengaluru in 2007, InMobi defines itself as a company that enables customers ‘to discover amazing products through mobile advertising.’ It claims to have enabled over 100 billion discovery sessions and was named one of the 50 Most Disruptive companies in the world by MIT Technology Review. While Naveen Tewari is the company’s founder and CEO. Abhay Singhal is a co-CEO and chief revenue officer.
Zomato – Valued at about $1 billion
Popular restaurant search app Zomato, underwent new rounds of funding in September last year to be valued close to $1 billion, according to reports. The startup that was founded in 2008 by Deepinder Goyal and Pankaj Chaddah and is used widely in countries like India, US and Australia. It also allows for online ordering and cashless payments. The company has been regularly acquiring smaller startups in its attempts to expand its customer base.