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For more information, practical www. For native startups and e-commerce gemini, it is a bit controversial.
For a long time it seemed as if the Indian online business universe was living by the Woody Allen principle. For a filmmaker, though, as long as the hits keep coming — even sporadically — the flops are pardonable. For digital startups and e-commerce ventures, it is a bit different. The exceptions, of course, are the big boys of e-commerce, who are still attracting huge funding from moneybags like SoftBank and Alibaba. When ET Magazine met Deepinder Goyal, founder of online restaurant discovery and food ordering platform, in July, he dropped enough hints that breakeven was around the corner.
Three months down the line, the company has clawed its way out of the red. The profit, though, was at the operational level, and there are still losses piled up. The turnaround towards black, however, has been steady over the past couple of years. The decade-old-company cut operating losses from Rs crore in fiscal year to Rs crore a year later. This was enabled by slashing annual operating burn from Rs crore to Rs 77 crore in fiscal year Stemming the losses may have been the only way to survive for a company that last raised funds two years ago.
And it may venyures a similar story for other online ventures for whom the Btotom round of funding looks elusive for now. Series B too has seen a big dip: Profit Mantra Clearly, when prayers for funding fall on deaf ears, profit mantra is the only path to salvation. Take, for instance, Quikr. The online classifieds unicorn, which last raised funding in Augusthas embarked on the path to profit; one of its five verticals, QuikrJobs, entered the black in March, says the company. InMobi, one of the earliest unicorns from India, also claims to be positive at the level of EBITDA earnings before interest, tax, depreciation and amortisation since last year. It took the company 10 years to post its first profit.
Girish Shivani, executive director of YourNest venture fund, calls it a survival strategy. As capital dried up in end and pretty much all of the following year, he explains, breakeven became a harsh reality. Even as volumes went up due to sharper focus on low-margin categories, heavy promotions and cashbacks went out of the window. Ultimately, for any corporate structure, margins and profitability are when the rubber truly hits the road, and most of the large players have now recognised it. The sounding of the death knell for a few big players who were profligate with their capital, reckons Shivani, only pushed many companies to hit the road to profitability.
Sandeep Murthy, partner linf venture capital firm Lightbox, is not surprised to see gross merchandise value GMV being replaced by profit as the new mantra. That story played out for a while with larger cheques going to those that showcased that they were grabbing the veentures land read GMV. OBttom, as investors began to understand that the land grab was useless, they started to pull back and question their original assumptions. You must reserve your seat by calling Saturday, December 9 25th Annual James River Parade of Lights Downtown viewing site of the river at Libby Hill Park in Church Hill 6pm - 9pm Free admission Each year, boaters decorate their boats and converge on the James River for a parade that marks the beginning of the holiday season.
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Shubhankar Bhattacharya, ways partner venfures Kae Rough, explains that flirting profitability could also co for a more stringent story for prospective students. Poked by the Guy Member Advisory Sissy.
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