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Meesho Courts D2C Brands: Will It Be Match Made In Heaven?

Inc42Inc42 · 9m ago
Meesho Courts D2C Brands: Will It Be Match Made In Heaven?
Medial

Meesho, an ecommerce platform, has managed to generate revenue through advertising, marketing income from sellers, and a discounts-led acquisition strategy. The company also charges a fulfillment fee from sellers for completing deliveries. Meesho's success can be attributed to its ability to attract users from Tier 2 and 3 towns, meeting their demand for branded products across categories. The platform aims to retain users by offering more choices and competitive prices to prevent migration to other channels. Meesho has also introduced Valmo, a franchise-based logistics model, to enhance its efficiency and reduce costs. The company may consider acquisition and consolidation strategies with direct-to-consumer brands in the long term to further its growth.

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POP helps D2C startups tackle customer acquisition and retention hurdles

EntrackrEntrackr · 1y ago
POP helps D2C startups tackle customer acquisition and retention hurdles
Medial

A group of former Flipkart employees, led by Bhargav Errangi, is working to fix a big hurdle faced by D2C startups – acquiring new customers. Through their platform POP, the Bengaluru-based startup aims to build a vast pool of customers, who are preferably ecommerce savvy and drive sales through a reward currency. Conveniently called POPcoins, the reward currency is driven by the group’s learnings with Flipkart’s popular Supercoins. We spoke to the company founder and CEO Errangi to learn how the platform works, what makes it different from the competition, and future roadmap. Here are the edited excerpts: How does the platform work? Please help simplify the process. POP intends to create a network of e-commerce users which constitutes genZ and late millennials on the back of POPcoins. Brands participating in the POP network will get access to this network and can acquire and retain customers much more efficiently than the current modes of customer acquisition. Moreover, we have a SaaS product that is already being used by 120+ D2C brands. It is a simple Shopify plug-in that can be integrated within the brand website, which enables the brand to issue POPcoins and let customers redeem POPcoins on their purchases. Apart from that, POP will be launching a D2C e-marketplace which will house 500+ D2C brands and also its own UPI handle where users can earn 2% back in POPcoins on every transaction. Both these businesses will be launched within the same app platform, which is ready to be launched in May’24 What makes your platform unique? What sets us apart is the ability to merge two distinct worlds—bottom-up loyalty solutions and top-down co-branded credit cards. POP understands that to attract anchor brands to our network, we must offer a product that they genuinely value. The co-branded credit card approach not only differentiates us from competitors but also creates a symbiotic relationship between banks, anchor brands, and POP. How is it different from the likes of MagicPin? Also, please explain your fintech features. Very different, POP is focused on the D2C market. The redemption options of POPcoins will be focused on D2C brands. Within the world of D2C, POP aims to incentivise customers who are avid shoppers of D2C brands. These are users who think beyond the mainstream brands and want to stand out of the crowd with their lifestyle choices. Whereas Magicpin is a discounted voucher platform where a user can buy vouchers of any brand- offline or online at discounted rates We will have two fintech offerings- UPI and a co-branded credit card. On every UPI transaction, a user gets 2% value back on POPcoins. On every online transaction made on our credit card, the user earns 10% value back on POPcoins Please help us understand the regulatory compliances required for your fintech features, such as co-branded cards. A ‘TPAP’ license is needed to become a UPI payments player, like PhonePe, Gpay, etc. We have obtained one recently. A partnership with a bank is required to launch a co-branded credit card. Our first partnership with a large bank will be rolling out soon. Are you planning to raise fresh funds in the near future? We have already raised a seed round last year. We have enough funds in the bank for now, and we are focusing on the launches right now. Sometime later this year, we plan to raise our series A.

Entrepreneurs Bowled Over By Opportunities as Cricket Fever Sweeps India

VCCircleVCCircle · 1y ago
Entrepreneurs Bowled Over By Opportunities as Cricket Fever Sweeps India
Medial

The Indian Premier League (IPL) is not just a successful startup in itself, but also a source of opportunities for other startups. This year, over 30 startups are participating in the IPL, with 14 direct-to-consumer (D2C) startups associated with Mumbai Indians and Royal Challengers Bangalore. Despite fintech startups reducing their involvement, the IPL's massive viewership count of 505 million is too enticing to ignore. Startups also benefit from the Startup Power Play initiative by IPL broadcaster Star Sports, offering one startup per match day the opportunity to showcase a TV commercial. Cricketers like Sachin Tendulkar, Virat Kohli, and MS Dhoni are also investing in startup brands, particularly in the D2C, gaming, and fintech sectors. Sports tech and entertainment apps that analyze post-match content are also gaining traction. Overall, the IPL continues to provide opportunities for startups across various sectors.

Cornerstone Ventures leads Rs 15 Cr round in Nitro Commerce

EntrackrEntrackr · 1y ago
Cornerstone Ventures leads Rs 15 Cr round in Nitro Commerce
Medial

Nitro Commerce, a revenue-as-a-service platform for ecommerce and D2C brands, has secured Rs 15 crore ($1.8 million) in a seed funding round led by Cornerstone Ventures. The round also saw participation from Warmup Ventures, Lead Angels, Dholakia Ventures, India Accelerator as well as individual investors Arjun Vaidya , Kunal Khattar, Nikunj Jain and Piyush Jain. The proceeds will be deployed towards developing core technologies that support the sourcing and enrichment for ecommerce and D2C brands, Nitro Commerce said in a statement. Co-founded in 2023 by Umair Mohammed, Atyab Mohammed, Shamail Tayyab, and Pratik Anand, Nitro Commerce is a full-stack revenue-as-a-service platform for the ecommerce and D2C markets. The platform aims to provide technologies to the industry that aid the top and middle of the funnel in order to help customers seamlessly increase revenue and super-charge their growth. The co-founders had previously launched Wigzo which was acquired by Shiprocket back in 2021. Nitro also aims to reach profitability by 2025 by democratising its technology, making it easy for merchants to access and deploy, and offering it as an outcome-as-a-service. The startup claims that it has on boarded more than 100 D2C brands in the past six months and aims to grow this number to over 1,000 brands by the end of the year. According to the Gurugram-based company, it will introduce an innovative approach to integrate e-commerce and digital advertising with bespoke and intelligent data-driven offerings. It competes with the other players in this space such as Klaviyo, Elastic Path Software, Bango, Yotpo, Rokt and others.

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