July 8, 2020
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Indian startups diversify their businesses to offset COVID-19 induced losses – TechCrunch

Indian startups diversify their businesses to offset COVID-19 induced losses – TechCrunch

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Ecommerce Giant Flipkart is an planning launch a hyperlocal service that would allow customers to buy goods at local stores and deliver them in an hour and a half or less. Yatra, an online ticketing and hotel service, is generally exploring a new line of business: the supply of office supplies.

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Flipkart Yatra are not the only firms considering new business categories. Dozens of firms in the country have expanded, launching new services in recent weeks, partly to offset the destruction caused by the COVID-19 epidemic for their main products.

Swiggy and Zomato, The country’s largest food delivery startups began delivering alcohol to parts of the country last month. This step came a few weeks after the two firms saw fewer orders and had to let go of hundreds of employeesbegan accepting grocery orders, challenging the existing online market leaders BigBasket and Grofers.

Udaan, “Business to business,” has recently begun accepting bulk orders from some housing companies and is exploring new business opportunities for businesses, TechCrunch startup said.

These changes occurred shortly after New Delhi. announced a nationwide lock restrain the spread of coronavirus. The blocking meant that all public places, including cinemas, shopping centers, schools and public transportation were suspended.

Instead of temporarily suspending their business, as many have done in other markets, dozens of startups in India have explored ways to make the most of the current failed spell.

“This pandemic has enabled the Indian ecosystem of technology startups to take a closer look at the economics of their business units and become more efficient in terms of capital in the short and long term,” said Punit Kumar, a growing investor in the Indian ecosystem of startups. TechCrunch told in an interview.

Of the few things that the governments of most states of India have agreed on, they should remain open, including grocery stores and online grocery and food delivery services.

People buy food at the supermarket on the first day of a 21-day state blockage nationwide as a preventative measure against the spread of the COVID-19 coronavirus in Bangalore on March 25, 2020. (Photo: MANJUNATH KIRAN / AFP via Getty Images)

E-commerce firms Snapdeal and DealShare launched a product delivery service in late March. The course was soon followed social commerce startup Meesho, fitness startup Curefit and BharatPe, which is known facilitate mobile payments between sellers and users,

Meesho’s The attempt is still in an experimental stage, said See Aatrey, Facebook backs Startup co-founder and CEO. “We launched the grocery store during the block to provide sellers with some revenue opportunities, and so far has shown a good response. Therefore, we continue to pilot even after removing the lock, ”he said.

ClubFactory best known for selling inexpensive beauty productsalso started to supply products, like NoBroker, based in Bangalore connects apartment seekers with ownersAnd the giant MakeMyTrip, which offers solutions for booking airline tickets and hotels, has entered the food delivery market.

Another giant like that BookMyShow, who sells movie tickets, has hastened to support online events in recent weeks, helping comedians and other artists sell tickets online. The company, headquartered in Mumbai, plans in the coming days to further penetrate this business idea.

For some startups, the pandemic has accelerated the launch of their product cycles. CRED, a Bangalore startup that trying to help Indians improve their financial behavior Having paid the bill by credit card on time, I launched an instant credit line and apartment rental services.

Kunal Shah, founder and CEO of CRED, said the startup “quickly tracked the launch” of these two products, as they can be extremely useful in the current environment.

For several startups, a pandemic means accelerated growth. Unacademy, and Facebook Supported Online Learning StartupThe number of users and subscribers has increased over the past months, and TechCrunch has announced that over the next two months it will more than double the number of exam preparation courses it offers on its platform.

Since March, the number of users who access the online training service every day has grown to 700,000. “We also see an increase in the number of viewers per week by 200% for free live lessons offered on the platform. In addition, the number of paid subscribers increased by 50%, and the average viewing time among our subscribers increased by more than 50%, ”the representative said.

As with online training firms, on-demand video streaming firms have also significantly increased the number of users they serve. Zee5, which attracted over 80 million users, told TechCrunch last week that in a month it would introduce a new category in its application that would oversee short videos created and uploaded by users. The firm said that this feature will be very similar to TikTok.

The pandemic “has also accelerated the introduction of online services in India across demographics. Many who wouldn’t think of buying goods and services on the Internet are starting to quickly implement online platforms for essentials, ”said Kumar, a venture investor.

“As for expanding into related categories, this was a natural progress, and startups were still slowly moving in this direction. The pandemic made people get there faster. ”

Roosh, a Mumbai-based game development company founded by several industry veterans, has prematurely launched a new application that allows social influences to promote games on platforms such as Instagram and TikTok, said Deepak Ayl, co-founder and CEO of Roosh. TechCrunch.

ShareChat, a Twitter supported social network, recently acquired a startup called Elanic explore opportunities in social commerce. OkCredit, an accounting service for merchants, was exploring the ways to allow users to buy goods in stores in the neighborhood.

AND NowFloats, Mumbai-based SaaS startup, which helps companies and individuals create their online presence without any web development skills, is recruiting doctors to help people consult with healthcare providers.

Startups are not the only companies looking for new categories. Well-known companies such as the Carnival Group, which is the third largest multiplex cinema network in India, have stated that they are engaged in the cloud kitchen business.

Amazon, which competes with Flipkart Walmart in India, also has secured approval from West Bengal to deliver alcohol in the fourth most populous state. The e-commerce giant is also exploring ways to work with moms and pop shops scattered across tens of thousands of cities in India.

Last week the american giant launched “Smart Stores” this allows customers to go to a participating physical store, scan a QR code, and select and buy products through the Amazon app. The company, which supplies these moms and pop music stores with software and a QR code, said that over 10,000 stores are participating in the Smart Stores program.

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