E-commerce Startup Jazzmyride En Route To Success
A New Delhi-based startup, which has a staff of 50, generated Rs 20 crore in revenue in 2015-16—a 100% year-on-year growth!
When you think about e-commerce, you think to buy and selling products online. But that’s not all! It also includes the entire online process of marketing, selling, customer relationship management, delivering, supply chain management, servicing and paying for products and services. India has shown tremendous growth in the e-commerce segment. With an internet user base of over 300 million, India has third largest internet population after US and China.
Jazzmyride became India’s largest online seller of car and bike accessories in just a few years. With more than 1 lakh products already listed online, the company is continuously seeing the great success of the familiar e-commerce model we are all aware of.
In May, TVS ASL bought an undisclosed stake in Jazzmyride. The startup took a step ahead for funding only after it had a proven business model in place, established cash flows and accumulated profits. More than the funds, it’s about the partnership with TVS that will help the company to scale.
The startup is in the process of implementing the O2O model in Delhi and Chennai. Jazzmyride is looking to expand operations with a focus on O2O (online-to-offline) commerce business.
Founder- Sunil Dhingra
According to a source, when Sunil quitted his job to start Jazzmyride, he received a message from a friend saying: It’s great to see you quit the biggest addiction in life—salary. “I often kick myself that why I didn’t quit the habit earlier,” he says.
We believe that e-commerce in India is growing leaps and bounds. A small idea can reach a global platform with just the click of a button. So, what is your take on the e-commerce scenario in India? Please share your thoughts in the comments section below.
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