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Set2Score • 2m
𝗛𝗼𝘄 𝗱𝗶𝗱 𝗥𝗮𝗽𝗶𝗱𝗼 𝘀𝘁𝗮𝗻𝗱 𝗼𝘂𝘁 𝗶𝗻 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁 𝗱𝗲𝘀𝗽𝗶𝘁𝗲 𝗶𝗻𝘁𝗲𝗻𝘀𝗲 𝗰𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝗼𝗻 𝗳𝗿𝗼𝗺 𝗢𝗹𝗮 𝗮𝗻𝗱 𝗨𝗯𝗲𝗿? Rapido was founded in 2015 by Aravind Sanka, Pavan Guntupalli, and SR Rishikesh. Focused on bike taxi services to create a niche in the crowded ride-hailing space. Offered a cost-effective and efficient solution for urban commuting compared to Ola and Uber. Later expanded into auto-rickshaw services and launched 'Rapido Cabs' for four-wheeler rides. Revenue is generated from ride commissions, delivery services, subscriptions, and partnerships. Adopted a SaaS-based model for cabs, where drivers pay a dynamic subscription fee based on earnings. Operated in over 100 Indian cities by FY23. Over 25 million app downloads and more than 1 million registered riders. Served around 10 million customers. FY22 revenue was ₹145 crore. FY23 revenue tripled to ₹443 crore, but losses increased by 54% to ₹675 crore. FY24 revenue grew 46.3% to ₹648 crore. Losses in FY24 reduced by 45%, down to ₹371 crore. Holds about 60% market share in the bike taxi segment. Entered cab segment with a unique SaaS model to compete beyond two-wheelers. Raised $324 million in total funding. Secured $180 million in a Series D round in April 2022 led by Swiggy. Other investors include TVS Motor Company, WestBridge, Shell Ventures, and Nexus Ventures. Funding was used to expand services and scale operations. Achieved differentiation in a market dominated by larger players like Ola and Uber. Follow vishakha Jangir for more such business insights.
Hey I am on Medial • 5m
The Year of Indian Startups' IPOs Series : 1. Groww -> • Groww is planning an IPO to raise approximately ₹6,000 crore, aiming for a valuation between $6 billion and $8 billion. • In FY24, Groww reported ₹3,145 crore in revenue from operations, do
See MoreFinding my self 😶�... • 5m
🫡This is business . Drishti IAS Institute achieved revenue of over ₹400 crore in FY24, with profits reaching ₹90 crore🤯. The company's revenue has grown significantly over the past four years: -- ₹40 crore in FY21, -- ₹119 crore in FY22, --
See MoreFinding my self 😶�... • 5m
🤯Founders with Highest salary in India. --⭐Supam Maheshwari (FirstCry) received an annual salary of ₹103.8 crore in FY24. This marks a significant decrease from his ₹200.7 crore salary in FY23. --⭐Nithin Kamath (Zerodha) Co-founder of the broker
See MoreStay with Community • 6m
Quick commerce unicorn Zepto recorded a 120% surge in revenue in FY24, growing from 2,026 crore in FY23 to ₹4,455 crore. This growth is driven by a shift in consumer preferences, with more customers opting for 10-minute deliveries over traditional e-
See MorePassionate about Pos... • 4m
SolarSquare’s Losses Surge Despite Revenue Growth in FY24 Rooftop solar provider SolarSquare saw a 63.5% YoY revenue growth in FY24, reaching ₹175 crore. However, its losses jumped 2.3X to ₹69 crore due to rising costs. Revenue from operations grew
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