Yulu reports crossing $30M ARR and turning EBITDA positive due to increased demand for quick commerce and supportive government policies.  The company, with over 40,000 electric vehicles, plans to ...

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- **Yulu** reports crossing **$30M ARR** and turning **EBITDA positive** due to increased demand for quick commerce and supportive government policies.
- The company, with over **40,000 electric vehicles**, plans to deploy **100,000 EVs by 2025** and raise **$100M in Series C funding** for expansion.
- Last year, Yulu raised **$82M in Series B funding** led by US-based Magna International and Bajaj Auto.
- Yulu facilitates over **20M deliveries per month**, saving 30-40% cost compared to traditional fuel vehicles.
- The company's growth is supported by its battery-swapping network, **Yuma Energy**, and partnerships with quick commerce players like Zomato, Zepto, Blinkit, Swiggy, among others.

Source: [Inc42](https://inc42.com/buzz/yulu-turns-ebitda-positive-breaches-30-mn-arr-on-rising-quick-commerce-demand/)

Yulu Achieves $30M ARR and EBITDA Positivity Amid Quick Commerce Boom

Journalist

Yulu Achieves $30M ARR and EBITDA Positivity Amid Quick Commerce Boom- Grapevine

Hi Grapeviners, creating a thread where you can post the name of a toxic culture company along with which department. 

This thread is created as a one stop place to know about Toxic Culture Companies whether it, Early/Seed/Growth Stage/MNC . 


#community

List of Companies to avoid - short reasons welcome

Putting this again

Most YC funded startups 
Most *.ai 
All “Ed-techs” (aka “SalMa” sales and marketing) 
Uber-for-X 
10min-thingmajings 
Niche funded D2Cs 
BNPLs

Software Engineer

- Swiggy's revenue grew 36 percent from Rs 8,265 crore in FY23 to Rs 11,247 crore in FY24.
- Despite the growth, Swiggy still lagged behind Zomato, which had a revenue of Rs 12,114 crore and a profit of Rs 351 crore.
- Swiggy's losses were reduced by 44 percent, from Rs 4,179 crore to Rs 2,350 crore, due to better expense control.
- The company spent Rs 13,947 crore in FY24, 8 percent less than the previous year, mainly by cutting promotion and marketing costs.
- Swiggy's Instamart, however, lagged behind Zomato's Blinkit in quick commerce, with revenues of Rs 1,100 crore versus Blinkit's Rs 2,301 crore. 

 Source: [Moneycontrol](https://www.moneycontrol.com/news/business/startup/swiggy-narrows-gap-with-zomato-on-revenue-food-delivery-business-grew-36-to-rs-11247-crore-in-fy24-12814599.html)

Swiggy Narrows Gap with Zomato on Revenue, Food Delivery Business Grows 36% to Rs 11,247 Crore in FY24

- Rapido, a ride-hailing unicorn, is exploring the quick commerce sector in India, competing with Blinkit, Swiggy Instamart, and Flipkart's Minutes.
- The Bengaluru-based company is in preliminary talks with Zepto and grocers like Pincode and KPN to strengthen its position in the market.
- Nexus Venture Partners, a common investor in Rapido and Zepto, is facilitating these discussions.
- Rapido recently became a unicorn, raising $200 million in its Series E funding round, led by WestBridge Capital.
- The company currently operates in over 100 cities, handling 2.5 million orders per day across bike taxis, autos, and cabs. 

 Source: [Inc42](https://inc42.com/buzz/flush-with-fresh-funds-rapido-seeks-to-ride-the-quick-commerce-wave/)

Rapido Eyes Quick Commerce Amid Fierce Competition

- Deepinder Goyal has become a billionaire following a record rally in Zomato shares, which have surged over 300% since July 2023.
- Zomato's stock hit a new high of Rs230 on the BSE, boosting its market cap past Rs1.8 trillion and making Goyal India's richest professional manager with a net worth of Rs8,300 crore.
- The surge in stock is driven by expectations that Zomato's quick commerce business, Blinkit, will outperform peers and turn profitable sooner than anticipated.
- Analysts expect Blinkit to surpass Zomato's food delivery business in gross order value (GOV) and strengthen its market position, despite a longer path to sustainable EBITDA margins.
- Goldman Sachs values Blinkit at $13 billion, higher than Zomato's core food delivery business, predicting significant growth in GOV and EBITDA by FY29. 

 Source: Money Control

Zomato Founder-CEO Deepinder Goyal Joins Billionaire Club

One founder who truly inspires me!

- Founded Zomato in 2008 and was doing a completely different thing
- First business model failed. Did global expansion across many countries did not work out
- But created an excellent product: most reliable catalogue of restaurants and reviews
- Got into delivery after Swiggy and others
- Executes like a machine. Raised smaller rounds, cross Swiggy GMV, revenue, was first to get to unit profitability.
- BlinkIt acquisition
- Best startup IPO so far in India 

Truly the grit an entrepreneur must have. 16 years of building. It isn't easy, I am sure.

Corporate Strategist

- Blinkit posted a revenue of INR 942 Cr in Q1 FY25, up 145% from INR 384 Cr reported in the year-ago period.
- The quick commerce vertical’s adjusted EBITDA loss further improved to 3 Cr in Q1 FY25 from INR 133 Cr in Q1 FY24 and INR 37 Cr in Q4 FY24.
- Blinkit’s gross order value (GOV) surged 130% to INR 4,923 Cr in Q1 FY25 from INR 2,140 Cr in the corresponding quarter last year.
- Zomato’s quick commerce vertical Blinkit posted a revenue of INR 942 Cr in the June quarter (Q1) of the financial year 2024-25 (FY25), up 145% from INR 384 Cr reported in the year-ago period.
- On a quarter-on-quarter (QoQ) basis, Blinkit’s revenue jumped 22.4% from INR 769 Cr reported in Q4 FY24. 

 Source: Inc42

Blinkit Q1: Revenue Jumps 22% QoQ To INR 942 Cr, Adjusted EBITDA Loss At INR 3 Cr

- Rapido has raised $200 Mn in a Series E funding round led by WestBridge Capital, pushing its valuation to $1.1 Bn.
- The funds will be used to expand Rapido's new four-wheeler taxi service, aiming to compete with Ola and Uber.
- The startup has seen its revenue grow more than 12 times, according to cofounder Aravind Sanka.
- Rapido is currently handling 2.3-2.5 Mn orders daily, with 7% from B2B operations, including food delivery for Swiggy.
- Despite the growth, Rapido's net loss widened to INR 674.5 Cr in FY23 from INR 439 Cr the previous year. 

 Source: [Inc42](https://inc42.com/buzz/rapido-claims-unicorn-tag-with-200-mn-funding-from-westbridge-others/)

Rapido Joins Unicorn Club with $200 Mn Funding

The Morning Vine 🍇

Welcome to Indian Startups's Private Community

While I'm proud of these two revolutionising the quick commerce space, I somehow have a bad feeling about this

Profits aren't coming, money is flowing
Don't know what the VCs are seeking?
Why bake a a pie that you can't eat later?

Too much money too soon, where have we seen that?

Consultant

VC here. Doing this for fun.
Don't take all views seriously.

Comment a startup's name, I'll share if it's promising or whatever I know

Analyst

Zomato delivered another great set of results. Now they are adding 250Cr cash every quarter.
The company hit two benchmarks this quarter according to my calculations, 50,000 Cr worth of orders (4x Q3) and 100 Cr orders (4x Q3), and these are growing 25-30% year on year.
Why is this interesting? As some of you might know, they have started adding platform fees to the orders. Even one more rupee of platform fee will add 100 Cr to EBITDA. So, if they increase fees from 5 to 10, that's 500 Cr more EBITDA every year.
 
Now, If you look at this quarter's results vs last quarter's results, they have added ~3600 Cr of order value, and made 380 Cr of EBITDA (this does not include Events). Which means they are making 10% as EBITDA. In next 3 years, if Zomato doubles their order value to 1,00,000 Cr, and even make 8% EBITDA, this could mean 8000 Cr EBITDA (almost 1 billion dollars). What markets will give as multiple on this, is guess work. Could be 25-40x (Don't hold me on this). Hence the stock looks undervalued from a 3 year lens

Zomato - Interesting Juncture

Business Analyst

Zepto's massive fundraise

Exceptional growth man 
Cannot say it enough. Two youngsters really came out of nowhere and gave Swiggy, BB, Grofers a run for their money!

Who would have thought.

- Ola is entering the $5-billion quick commerce market, competing with Blinkit, Swiggy Instamart, Zepto, and Flipkart Minute.
- At its 'Sankalp' event, Ola explained its dark store concept, aiming to cut order processing time from four minutes to under one minute using automation.
- The quick commerce sector has become indispensable, with rapid growth since 2021, according to UBS analysts.
- Blinkit has been crucial to Zomato's growth, while Zepto is raising $1 billion, showing strong investor confidence.
- Ola's Bhavish Aggarwal plans to use robots in dark stores, unlike competitors who rely on human labor. 

 Source: [Moneycontrol](https://www.moneycontrol.com/news/business/companies/quick-commerce-wars-to-intensify-as-ola-enters-blinkit-swiggy-instamart-zepto-and-flipkart-minutes-turf-12797486.html)

Ola Enters Quick Commerce Market, Challenging Blinkit, Swiggy Instamart, Zepto, and Flipkart Minute

Ola might just win this by delivering to people even before they can even dream of buying something using AI and his electric spaceship

Brand Marketing Manager

Welcome to Office Gossip's Private Community

Absolutely sad to see the state of the startups, most of them.
I am a founder myself, and this is a post with equal disappointment with myself as much as it is for anyone else who relates.
Look at all these companies that have raised shit tons of capital, and now make a fraction of money that has been invested in them.
The raised money is spent on outsized, non business sense making acquisition costs, only to keep repeating it till the tap runs dry.
Then when all stakeholders get bored, the service quality plummets, the employees are fired and whole sectors are admonished as being bad.

But, my question is, which sector where large sums of money was invested in early days have come out with flying colours. Fucking nothing !
Edtech, proptech, agritech, ecommerce etc. etc. etc. kuch bhi nahi. 

Is there any sector where a startup which has raised in the 100s of millions in the first 5 years have actually built a sustainable business at any scale ?
Then scaling down, isse acha, scale slowly.
The worst part of this whole drama, is pushing the innovation wheel backward and destroying customer sentiment.

Isse acha, raise less money inititally, build slowly, and only scale when the market is ready. Artifical growth makes no sense, unless you have a treasure chest that shall never run out.
Even in that case, spend the money on assets and not on random acquisition costs, direct or indirect.

As founders, let's do better, nahi ?

Rant or is it ?

Founder

When an order value is above INR 199, you folks used to deduct the delivery fees automatically. But now, you have made it as a manual option hidden under layers of UI.

Do you want your users to keep digging your UI to click and avail the free delivery?

Shame on you Zepto!

Software Developer

Swiggy hits EBITDA profitability on its food delivery business. For context, Zomato turned EBITDA profitable in their last quarter (food delivery) as well. Thoughts?

Investment Associate

So, what developments can we see with this?

Rapido raising ~$100M

Growth Manager

- Ola Electric's market share dropped to 27% in September from 32% in August, with sales hitting an 11-month low. 
- The company has been facing issues with hardware malfunctions and customer complaints, receiving almost 80,000 complaints monthly. 
- Bajaj Auto is catching up, with its market share doubling over the last two quarters. 
- Ola Electric's share price fell below Rs 100 for the first time since its stock exchange listing in August. 
- Analysts predict Ola Electric's market share could decline to 25% over the next five years due to increased competition and changes in government policies.

Source: [The Arc](https://thearcweb.com/article/ola-electrics-sales-hit-an-11month-low-as-bajaj-gains-market-share-cOwqOlS4GzDBU4my)

Ola Electric Sales Dip as Bajaj Gains Market Share

Hi folks, 

I'm Aadit, Co-Founder & CEO at Zepto. We're one of India's fastest growing consumer internet companies and are today present across 10+ cities in the country. 

I'd love to chat with you folks about my journey in building Zepto, my thoughts on the quick commerce space, organization building, amongst other things.

Ask away!

I'm Aadit Palicha, Co-Founder & CEO at Zepto. Ask me anything!

Hey @Aadit  
I’m @salt  
  
Some questions from my side: 
1. As companies scale there are many diverging opinions on how things should run. How do you ensure that the best ideas drive the company even though they might be in direct conflict with your point of view?  
  
2. What kind of impact have you seen via use of Machine Learning to streamline operational efficiency wrt initial benchmarks? 
  
3. What is the key focus area that you are currently working on? 
  
4. How do you balance creating shareholder value versus customer value?

Yulu Achieves $30M ARR and EBITDA Positivity Amid Quick Commerce Boom

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