| | DECEMBER 202085 BUSINESS RESHUFFLE IN INDIA 2020As we are all set to bid adieu for the most the stressful year 2020 that had certainly put all our lives at a pause. Not to mention the most suffered business arena due to the ongoing pandemic. Despite the ill effects businesses suffered this year, many businesses have undergone drastic transformations be it expansion or undergoing bankruptcy. Reviving the businesses let us take a quick look at the companies that have reshuffled in 2020.SnapdealThe Snapdeal network has initiated its expansion in May 2020 and has been powered exclusively by more than 30 regional logistics players who have expertise in serving their local markets. This move has been initiated to boost the brand's capabilities of smaller players by giving them an opportunity to coordinate with larger platforms than just working with sub-vendors to large logistics companies. Alongside, the brand also offers a technology backbone integration with the logistics partners that enable the partners to track in the real-time status of parcels as move in the network.The e-commerce player currently serves over 27000 pin codes in India. In addition to forging new partnerships with its regional players that exclusively work with large logistics firms such as Delhivery, Bluedart, FedEx, and Xpressbees.Reliance JioReliance Jio has managed to achieve something that was considered impossible by telecom companies in January 2020. The company's achievements are numerous when considering with its rivals Airtel and Vodafone Idea and post its launch and the recent announcement of its plans to introduce 5G services in India in the second half of 2021. But, this would just be a fraction of the company's activity in 2020. Jio has been the first telco operator to surpass 400 million subscriber base in India. The telco has further added 3.55 million subscribers in July 2020 alone, which indeed has elevated the brand's subscribers to 400.8 million. Furthermore, its valuation has also spiked up by 75 percent in Sensex since March, says the Bloomberg reports.CloviaThe lingerie brand Clovia has raised Rs. 14.31 crore from a clutch of angels, She Capital Trust, and Ivy Cap Venture. The fresh proceeds for the Noida-based company have come after two years. Furthermore, the brand had raised Rs.75 crore in January 2019. Clovia has allotted about 11,377 Series B3 CCPS at a price of Rs.12577.83 each share, regulatory filing show. Golden Birch has infused Rs. 2.75 crore while existing investors Ivy Cap has invested Rs.2 crore. Madhukar Parekh has put in Rs.2.25 crore and She Capital Trust picked up shares worth Rs.1.87 crore. Baaya Interna-tional has invested Rs.1.5 crore whereas other indi-viduals infused Rs 2.44 crore. Clovia competes with Kalaari Capital-backed Zivame and PrettySecrets, ShopImagine, among several others. While the com-pany is yet to disclose financials for FY19 and FY20, Clovia had recorded a 34 percent spike in revenue to Rs.51.8 crore in FY18. It also managed to cut down losses to Rs.8.6 crore in FY18 from Rs.10.2 crore in the previous fiscal year.RazorpayRazorpay initiated the payment gateway business when the space was overpopulated, but it has managed to scale and make a mark. The company that recently entered the unicorn club with a $100 million Series D round, it has also demonstrated exceptional financial performance during the financial year 2019- 2020.The fintech platform recorded a 2.6X inflation in its revenues which rose from Rs.193 crore in FY19 to Rs.509 crore during FY20. At Rs.383.8 crore, IN FOCUSBy CEO Insights Team
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