Shakti Shetty joined CARS24 couple of months ago, it gonna proliferate…

Say Hi to him, I’m his huge fan, also mention that eagerly waiting for his book

Software Engineer

But is the profitability sustainable? Or is it 1-2 quarter only

Who cares?.. go for IPO and make money. The aim is to go for IPO.

Consultant

Frontend Engineer

Looks like some one is readying for an IPO ..

This reminds me of ola coming up with a statistics that excluding chine they are big.  Imagine a hotel owner who is running losses but claims coffe tea are profitable.

Purpose of a business is to make profits. When that minimum is not met, these businessmen should not be proud of it. But as a society we have fallen for money. If you have money whatever done is considered awesome.

Business Analyst

Growth Manager

Analyst

Welcome to Indian Startups's Private Community

CARS24 UAE is now profitable 📈

CARS24 UAE is now profitable 📈- Grapevine

Welcome to Product Managers's Private Community

CARS24

Product Manager

Exclusive: Cars24 Pilots Service To Allow Car Owners To Hire Drivers On-Demand https://inc42.com/buzz/cars24-pilots-service-to-allow-car-owners-to-hire-drivers-on-demand/

😬

Cars24 enters into driver on demand service

Can someone from the company shed light? Will it survive or pivot considering the problems with used car selling model in India?

How are things at Cars24?

VC Analyst

Welcome to News Discussion's Private Community

- Lazada, Alibaba's Southeast Asian e-commerce unit, turned EBITDA-positive for the first time in July, marking a significant milestone for the company.
- CEO James Dong announced the profitability milestone in an internal meeting, attributing it to effective business strategies and ongoing investments in Southeast Asia.
- Alibaba reported that Lazada's loss per order had narrowed significantly due to better monetization and reduced logistics costs.
- Despite not breaking out Lazada's financials, Alibaba's international e-commerce division posted a wider adjusted EBITDA loss of $1.12 billion in the latest fiscal year.
- Lazada continues to face stiff competition from Amazon and Sea's Shopee in the Southeast Asian market. 

 Source: [Marketwatch](https://www.marketwatch.com/story/alibaba-s-lazada-unit-turned-ebitda-positive-in-july-b63b72cd)

Alibaba's Lazada Unit Achieves Profitability in July

Journalist

This time even I am out on the job market after a stint at Dunzo.
It appears that the market is slowly starting to get better.

Please provide the names of companies along with the specific job roles or functions they currently have open for hiring.

Hopefully, some links and referrals for all of us.

🚀 Maha Mega Jobs Thread: Who is hiring TOP professionals?

I know Michael Page has been recruiting for quite a number of Founder's Office roles, saw a bunch of postings recently and got a reach out 

Probably can find them on LinkedIn

- Acko, a new-age insurance firm, has surpassed the Rs 2,000 crore revenue mark in FY24, a 19.8% increase from FY23. 
- The company also managed to reduce its losses by 9%, bringing them below Rs 700 crore. 
- Gross premium earned accounted for 73.35% of total income, showing a 33.9% growth to Rs 1,587 crore. 
- Acko's controlled costs in employee benefits, advertising, and claims paid helped reduce losses to Rs 670 crore in FY24. 
- The firm aims to achieve profitability by FY27, driven by its general and health insurance segments.

Source: [Entrackr](https://entrackr.com/2024/10/acko-hits-rs-2000-cr-revenue-threshold-with-lower-losses-in-fy24/)

Acko Surpasses Rs 2,000 Cr Revenue, Reduces Losses in FY24

Dukaan turned profitable

Isne Twitter post auto trigger pe rakh diya tha. 
  
 if profit > 0 { 
  postOnTwitter(); 
  } else { 
  initiateLayoffAndCreatePostOnAI(); 
 }

Generalist

Welcome to Office Gossip's Private Community

These things happened in last two days: 

Emirates have all staff 7 months bonus after record profit 

Singapore airlines gave employees 8 months bonus after record profit

Someone should learn from Airlines companies

Software Developer

Welcome to Software Engineers's Private Community

I’m currently interviewing with cars 24 and expecting an offer from them by this week

The rough numbers given to me are 
base: mid 40s and 10% variable bonus (overall comes around near 50LPA)
(There is no other component apart from these)

I need help with the following:

1. HR told me they don’t give ESOPs etc. I just wanted to confirm if I should negotiate on this because on Leetcode I’m seeing they offered joining bonus as well as ESOPs.
2. If anyone can give me details around any recent offer from them and the components they got in the offer, it would really help


My recent TC: 36L Base
25L esops per year
Total workEx: 4 yrs
Education: Tier 1 CSE

So this is like taking a pay cut in terms of overall TC 

(Catch is I was laid off and I need this offer for the worst case scenario)

Cars24 Offer Review and Help

In last 6-8 months there has been lot of layoffs and many startup getting scrutinised due to funding etc..

But I can’t see Oyo name anywhere… Not much layoffs or nothing on their crunch.

Are they doing good or successful?

How is OYO doing ?

- Uber has not seen a significant impact on consumer spending despite a weakening US economy, with food delivery demand remaining healthy.
- The company reported a record high in the average number of trips booked by its 156 million monthly active users in Q2, with revenue growing 16% year-on-year to $10.7 billion.
- Net income for the quarter was $1 billion, significantly surpassing market expectations, driven by a $333 million revaluation of Uber's stakes in other companies.
- Uber's delivery segment showed healthy order growth, and the company expects its adjusted earnings to be between $1.58 billion and $1.68 billion in the current period.
- The company is focusing on growth through potential acquisitions and making delivery offerings more affordable, with a growing ads business contributing to profitability. 

 Source: https://www.ft.com/content/22b1b73e-c9df-4318-8cf8-cac92c85f4f5

Uber Reports Strong Consumer Spending and Profit Growth

Pretty much the title. No layoffs , crazy high salaries. Too much being spent on pretentious "organic" marketing.

How is CRED not collapsing?

- Urban Company, a home service marketplace, has shown impressive growth since its inception, with operating revenue reaching Rs 827 crore in FY24, up from Rs 248 crore in FY21.
- The company reported a 30% year-on-year increase in revenue for FY24, while also achieving a 70% reduction in losses, which fell to Rs 93 crore from Rs 312 crore in FY23.
- Despite the positive financials, Urban Company noted that these figures are unaudited and may differ from the actual balance sheet to be released soon.
- In Q1 FY25, the company recorded Rs 281 crore in revenue, a 37.3% increase compared to Q1 FY24, with an operating EBITDA of Rs 7 crore.
- The firm also highlighted that female service partners earned 23% more per hour than their male counterparts in H2 CY23, and the company charged an average commission of 25% from service partners. 

 Source: Entrackr

Urban Company Reports Significant Growth and Reduced Losses in FY24

Hey, 
I've started a fleet management company I.e we take cars from owners give them out for rent and make a good chuck of margin out of it. 
We are going the Franchise route to expand faster. At this stage we need a little bit of investment to get to market aggressively. 
Our revenue for 23 - 24 is 35 Lakhs, we are projected to hit 55 - 60 lakhs this financial year.
Apart form the investment looking for a good team cause it has only been me since the beginning.

Startup Bootstarped for 4 years looking for Investment

Founder

- GoMechanic, acquired by Servizzy in March 2023, achieved operational profit in the June 2024 quarter.
- The company posted a revenue of Rs 210 crore in FY 2023-24 and Rs 85 crore in the April-June 2024 quarter.
- New management led by Himanshu Arora and Muskan Kakkar turned the company EBITDA positive.
- GoMechanic plans to expand from 50 to 1,000 cities by 2027, aiming to service 1 out of 10 cars in India.
- Currently, the company services over 30,000 cars monthly through 600+ workshops in 50+ cities. 

 Source: Economic Times

GoMechanic Achieves Operational Profit Under New Management

Welcome to Personal Finance's Private Community

I just want to vent out! Many businesses are earning double than me and paying less than 50% of tax and yet here I am as a professional bound to pay tax. And that’s not enough, I still can get audited!

Paying 29L as tax this year!!

I paid 43L last year. 😤😖 
 It feels like I own every inch of new BLR airport. 😅

Engineering Manager

- Porter, an on-demand intra-city logistics company, saw its revenue spike 56% in FY24, crossing Rs 2,700 crore.
- The company managed to cut its losses by 45%, bringing them under Rs 100 crore.
- Fleet operator costs formed 82.8% of total expenses, growing 50% to Rs 2,369 crore.
- Employee benefits expenses rose 24.3% to Rs 237.36 crore, including Rs 6.69 crore in ESOP expenses.
- Despite rising expenses, Porter improved its EBITDA margin by 638 BPS to -2.89% and reduced operating cash outflows by 48.5%. 

 Source: [Entrackr](https://entrackr.com/2024/09/porter-reports-rs-2734-cr-revenue-in-fy24-losses-dip-45/)

Porter Reports Rs 2,734 Cr Revenue in FY24; Losses Dip 45%

- Stockbroking startup Dhan reported a 600% increase in gross revenues, reaching Rs 380 crore in FY24. 
- The company also reported a net profit of Rs 155 crore, a significant turnaround from the net loss of Rs 22 crore in the previous fiscal. 
- Dhan is currently in talks to raise fresh capital of around $100 million. 
- The company's growth reflects the overall expansion of the equity trading market and the rise of new-age discount brokers. 
- Despite regulatory challenges, Dhan is diversifying its offerings to maintain its revenue streams.

Source: [Economic Times](https://economictimes.indiatimes.com/tech/startups/dhan-swings-to-profit-in-fy24-with-gross-revenues-of-rs-380-crore-up-600-from-last-year/articleshow/113874378.cms)

Dhan's Revenue Skyrockets 600%, Reports Maiden Profits of Rs 155 Crore in FY24

- Student housing startup Your-Space reported a 21.8% increase in revenue to Rs 142.7 crore in FY24, up from Rs 117.2 crore in FY23. 
- The company's losses also rose, reaching Rs 30.7 crore in FY24, a 20% increase from Rs 25.5 crore in FY23. 
- Your-Space operates over 60 smart spaces providing affordable housing for students, with income from residential services accounting for 99.5% of total operating revenue. 
- Rental costs for accommodations made up 52.6% of total expenses, rising by 34% to Rs 92.2 crore in FY24. 
- The company has raised Rs 129 crore to date and competes with other student housing providers like Abuzz Oxfordcaps and Stanza Living.

Source: [Entrackr](https://entrackr.com/2024/10/your-space-posts-rs-142-cr-revenue-in-fy24-losses-up-20/)

Your-Space Revenue Hits Rs 142 Cr in FY24, Losses Rise by 20%

Ola seems to have deeply deprioritized the cabs business. I've heard it's profitable now for them (makes them cash), but seems like they're not scaling anymore.

CARS24 UAE is now profitable 📈

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