JOY / / Business

Businesses that Boomed

15.07.16 By

India has been booming with business for decades, and with the rapid growth of the IT and software industries, Bengaluru was propelled onto the global stage overnight. Bhartiya City is home to a state of the art business and financial district that was designed to allow business minds to thrive. Sleek office spaces, smart cafes and ultramodern meeting rooms are all set within 2 million square feet of meticulously planned space from which big ideas and some even bigger successes stories are set to be emerge. As the city comes to life, the stage is being set for multinational corporations and start-ups alike to set up shop and make their mark, but until then, let’s reminisce over some of India’s most successful startup stories.

Ogo Hotels, India

This young entrepreneur had the business bug from the age of just 17. Having dropped out of college to pursue his dream of becoming a self-made man, Ritesh Agarwal set up his first company, Oravel Stays Pvt. Ltd. in 2012. The company initially saw minor success, however it was said that the online comparison and booking concept struck chords similar to those of global giants AirBnb. In true hard-nosed business style, he knew a change of direction was needed to crack the market. One Thiel Fellowship and three years later, Ogo was born, and the concept couldn’t be simpler. Through focusing on standardising affordable accommodation, Ogo was able to expand from just one hotel to over 15,000 hotels across 250+ cities in India in just three years. Ogo is hailed as one of India’s biggest entrepreneurial success stories in recent years, with the company winning numerous awards and recently announcing expansion beyond India.

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Flipkart

Flipkart was founded back in 2007 by Sachin Bansal and Binny Bansal, both alumni of the Indian Institute of Technology Delhi. Having spent time mastering the industry during their time at Amazon, the duo was well-placed to take a leap of faith and start their very own business adventure. The wide-ranging e-commerce platform differentiated itself within the rapidly expanding market by introducing pioneering payment methods such as cash or swipe upon delivery; two payment methods that were unheard of at the point of the company’s conception. Today, these payment methods are widespread across India and many e-commerce platforms offer similar products and services, however Flipkart became a household name across India namely due to its reliable, self-governed supply chain management system. The company is headquartered in Bangalore and has seen substantial growth in recent years having gone from a small online platform that sold books, to an ever-expanding company valued at around $9.39 billion.

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Redbus

By standardising bus times, fares and booking, Redbus has revolutionised the way we travel in India. Travelling by bus was once a process of chaos and uncertainty, but with one centralised platform that allows users to search and book their journey, explore street views of bus stops and travel without the need to physically print a ticket, it’s easy to see why Redbus has become such a huge success nationwide. The company was founded in 2005 after Phanindra Sama and a couple of good friends became disillusioned with the idea that travelling by bus was the only option, yet somehow still lacked ease and efficiency. It was from a desire to fill this gaping gap in the market alongside a want to solve an everyday problem for the everyday person, that a centralised database of bus providers was created and Redbus was born. Today, the website receives tens of thousands of hits daily, covering over 80,000 routes across India with 1500 bus operators.

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