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Havish Gupta
Figuring Outย โขย 1y
Unique Startup Stories (6/20) Get Milk and Groceries before 7am! Meet doodhwala It was started in 2015 by Akash Agarwal in Bangalore. It was a milk subscription company which later also scaled to delivering groceries. They had raised $2.5 million with valuation of about 16 Million and In few years they scaled to many different cities selling 30,000 liters of milk daily. So why did doodhwala failed? 1) Low margins: margin in milk is less than 5% and thus making profit hard 2) Cash-burn: Their margins were low but expenses where very high 3) Competition: there were endless startups in this genre so competing was tough 4) No Customer Retention: As people prefer taking milk from local milk supplier, they stopped when the discounts reduced 5) Hiring the wrong people and lack of fund. These may seem as general points but these are the reasons why startups fail. So take care of them. And what do you think they should have did to dominate milk industry? Financials in comments*
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