Startup77’s Post

Spinny, a used car retailer, achieved steady growth in FY24, with operational revenue increasing by 14.3% to Rs 3,725.02 crore, up from Rs 3,259.78 crore in FY23. This growth was coupled with a 28% reduction in losses, reflecting the company's effective cost management. Spinny primarily generates revenue from vehicle sales, value-added services (such as registration and insurance assistance), and platform fees. In FY23, the company revised its revenue recognition approach, now including direct vehicle sales rather than solely marketplace commission, which adjusted its operating revenue to Rs 3,262 crore. Other income, including interest and rental income, contributed Rs 96.84 crore, bringing Spinny’s total revenue to over Rs 3,800 crore. However, this segment saw a 19.9% decline as Spinny hasn’t raised fresh capital since November 2021. Spinny operates a full-stack model, overseeing every step in its used car sales—from inspection and refurbishment to documentation and financing—enabling it to control quality and streamline operations. #spinny #spinnynews #spinnyrevenue #profitnews #carreselling #exchange #startupnews #startupro Niraj Singh | Mohit Gupta |Hanish Yadav | Nikhil Bansal | Sujit Kumar | Arvind Bansal | Ramanshu Mahaur | Gaurav | Mukul Arora | Payal | Rohan | Vaishali | Sambhaw | Manish | Ishwar | Kallan H | Pankaj Ghai | Astha | Niko | Harry| Parth | Abishek | Siddhant | Drake Pooley | Marc Bhargava| Priya | Neeraj | Ajoy

Spinny, a leading used car retailer, reported a significant financial uplift in FY24, with operational revenue increasing by 14.3% to Rs 3,725 crore, driven by its cash-and-carry sales approach and expanded services like insurance and registration assistance. Despite a 7.8% rise in inventory costs, the Tiger Global-backed company managed a 28% reduction in losses, totaling Rs 590 crore. While total expenses grew moderately by 5%, Spinny’s integrated full-stack model has strengthened its market position. The Gurugram-based firm continues to compete with Cars24, CarDekho Group, and CarTrade.com's OLX Autos, backed by funding from prominent investors like Accel and Elevation Capital. #SpinnyGrowth #UsedCarMarket #RevenueGrowth #StartupSuccess #FY24Results #TigerGlobal #AutoIndustry #FinancialUpdate #BusinessExpansion #StartupFunding #Startup77

Shiprocket: How India’s 20th unicorn changed its business model multiple times Shiprocket became India’s 20th unicorn last month. Started as BigFoot Retail Solution Pvt Ltd in 2012, the journey of the automated shipping solution provider towards achieving a valuation of $1 billion has been full of adapting to changes. Make sure you like and follow :@karlostartup Video credit:@yourstorytv #shiprocket #startupstories #unicorn #indiastartups #karlostartup

Zepto in Talks to Raise $300M—Doubling Down on Its Initial Target! Zepto is in discussions to secure $300 million from top domestic investors—twice its original target. This isn’t just a funding round; it’s a major step in Zepto’s battle with Blinkit and Swiggy Instamart. Key highlights from this potential raise: 💠 This move would boost Indian ownership in Zepto to 35%, with founders Aadit Palicha and Kaivalya Vohra gaining an extra 1% equity for hitting key performance targets. 💠 Investors include RJ Corp’s Ravi Jaipuria, Harsh Goenka’s RPG group, and Motilal Oswal, alongside iconic names like Amitabh Bachchan and Sachin Tendulkar. 💠 With over 1 million daily orders, Zepto is already the largest private player in quick commerce—poised to solidify its lead with this funding as it eyes an IPO. The quick commerce space is heating up, and Zepto is making all the right moves to stay ahead. What do you think about this next chapter? #zepto #QuickCommerce #FundingNews #GrowthJourney #Ecommerce #grocerydelivery #swiggy #instamart #blinkit #zomato

Rapido has raised $200 million in its Series E funding round, led by WestBridge Capital, which contributed $120 million. Other participants include Think Investments, Nexus Venture Partners, and Invus Group. This round has pushed the Bengaluru-based firm’s valuation to $1.1 billion. With this fresh capital, Rapido is focused on expanding its four-wheeler ride-hailing services, launched in December 2023, allowing it to compete more directly with market giants like Ola and Uber. According to internal data, Rapido is now the second-largest player in the overall ride-hailing space, clocking 16.5 lakh daily rides as of March 2024, compared to Uber’s 19.3 lakh and Ola’s 13 lakh. Bike taxis remain Rapido's strength, contributing over 50% of total rides, while autorickshaws account for 40% of GMV, and cabs and bikes contribute 30% each. Rapido’s operating revenue tripled to Rs 443 crore in FY23, though losses also surged 54% to Rs 675 crore during the same period. With a renewed focus on scaling, the firm’s growth trajectory remains impressive despite the challenges. #Rapido #SeriesEFunding #StartupGrowth #RideHailing #Mobility #IndiaTech #OlaVsUber Tushar Kansal

ShopClues, founded in July 2011 by Sanjay Sethi, Sandeep Aggarwal, and Radhika Aggarwal, soared in value to US$1.1 billion by 2015, with significant investments from Tiger Global, Helion Ventures, and Nexus Venture Partners. ShopClues entered the Indian e-commerce sector as the 35th company. Since then, it has grown to employ between 1,001 and 5,000 individuals across various regions of the nation, with its headquarters situated in Gurgaon. The platform set itself apart by focusing on aiding tier 2 and tier 3 merchants in product sales and brand development. ShopClues made history by attaining a valuation of $1.1 billion within just a few years, earning it a prestigious spot in the Unicorn Club in 2016. However, in 2019, the company faced a major shift when it was acquired by Singapore-based Qoo10 in an all-stock deal valued at approximately US$70 million. #TerexVentures #ShopClues #StartUpSuccess

💫 How is Zepto Scaling Up Business with Profit at the Same Time? Zepto has masterfully centered its business model around profit and cash flow while achieving exponential growth. Here’s how: 1. Focus on the Dark Store Model: Instead of diversifying their solutions, Zepto zeroed in on a single approach - the Dark Store model. What does this do? Solves Customer Problems: By significantly saving customers time, they have achieved their trademark promise - "Delivery in 10 minutes." 2. Strategic Expansion: With the Dark Store model at the core, their strategy revolves around increasing the number of these stores. This results in: Decreasing Delivery Time Increasing Profit per Store Attracting More Funding #Zepto #BusinessGrowth #Profitability #DarkStoreModel #zeptocafe Credits: Youtube: https://lnkd.in/gX58nUUj Backstage With Millionaires

Aadit Palicha recently claimed that Zepto will surpass DMart in sales metrics within 18-24 Months. According to reports Zepto has literally raised external investment at an average of 9cr a day from the date of inception and is still in huge losses. DMart - Avenue Supermarts Ltd, founded by Radhakishan Damani, stands as a testament to patient, sustainable business building. Mr. Damani spent years meticulously growing DMart into the profitable and sustainable retail giant it is today. His business acumen was so respected that he served as a mentor and friend to the late Rakesh Jhunjhunwala, often referred to as India's Warren Buffett. My 2 cents, Zepto might take 18-24 months to achieve EBITDA positive forget surpassing Dmart. Is this the new age of audacious startup goals, or do we need more grounded expectations? #StartupWorld #RetailBusiness #ZeptovsDMart #BusinessGrowth #EntrepreneurshipJourney

Car reselling marketplace CARS24 said its operating revenue jumped 25% to INR 6,917.1 Cr in the financial year 2023-24 (FY24) from INR 5,529.6 Cr in the previous year on the back of an increase in unit sales and average selling price per car👇 Cars24 cofounder and CFO Ruchit Agarwal told Inc42 that the startup’s core car selling business raked in INR 6,400 Cr of revenue, while the remaining INR 500 Cr came from financial and ancillary services. Founded in 2015 by Agarwal, Vikram Chopra, Gajendra Jangid, and Mehul Agrawal, Cars24 offers a platform for car owners to sell their used cars while also allowing users to purchase used cars from its site and its company’s branches. Meanwhile, Cars24 also saw an increase in its net loss during the year. Its loss jumped 7% to INR 498.4 Cr in FY24 from INR 467.7 Cr in the previous year, which it said was due to investments in technology, data science, and customer experience enhancements for future growth. 🔗To read the in-depth article, click here: https://4-2.co/4eMQQjN #news #revenue #startup #Cars24 #business

Aadit Palicha-led quick commerce giant Zepto has partnered with Park+, a one-stop shop for all car care products, to offer 15 Park+ car care products at 8+ locations across the country. The partnership is aimed at offering car care products that are both accessible and affordable. In September 2024, the quick commerce giant partnered with Decathlon to make sporting goods more accessible across the country. Read the full story here: 👇 https://lnkd.in/dYMJw2fW #cars #zepto #delivery #quickcommerce #unicorn #startup #indianstartupnews