With a valuation that speaks to its market dominance, Zerodha has capitalized on the surge in retail investing, particularly during the COVID-19 pandemic, to expand its user base significantly. Operating in a competitive landscape with key players like Upstox and Angel Broking, Zerodha maintains an edge with its first-mover advantage and continuous technological advancements.
Razorpay stands as a testament to the burgeoning fintech sector in India. With a robust business model, a strong focus on innovation, and a deep understanding of the Indian market, Razorpay is well-positioned to capitalize on the growing digital payments landscape. While it faces challenges in terms of regulation and competition, its recent valuation, successful funding rounds, and continuous product expansion reflect a promising trajectory.
Livspace, a tech-driven home interiors and renovation platform, has emerged as a prominent player in the home design market. As a unicorn with significant funding and strategic acquisitions, it is expanding rapidly across APAC and exploring new markets. However, it faces challenges in customer satisfaction and operational efficiency.
Swiggy, a leading Indian food and grocery delivery firm, is moving towards an IPO in 2024 with a last valuation of $10.7 billion. Despite facing valuation markdowns and competition, the company’s profitable business model and strong brand presence in key Indian cities position it well for future growth. However, challenges like technical issues and limited international presence require strategic attention.
Mamaearth, a brand founded in 2016, has gained recognition for its commitment to natural, safe, and sustainable beauty products. With a focus on natural ingredients, safety, and sustainability, Mamaearth’s product line spans baby care, skincare, haircare, and personal care. For investors, Mamaearth presents an appealing opportunity due to its rapid growth, strong consumer appeal, and sustainability initiatives. Its potential lies in geographic expansion, product innovation, and e-commerce dominance. However, there are shorting possibilities stemming from overvaluation, fierce competition, regulatory scrutiny, market saturation, economic sensitivity, and supply chain risks. The decision to invest or short Mamaearth should be made with careful consideration of these factors.
Zomato: Full-stack restaurant service provider
“We did grocery because the food delivery business was gone during the lockdown. For 3-6 months, it worked really well and helped us get through the crisis. And eventually it didn’t make sense. Some companies do different things because they don’t want some of the key people to leave.” – Zomato CEO Deepinder Goyal
“There’s no established playbook in edtech. We’re all figuring it out. It is freeing from a product-design perspective. You have to create mission-oriented teams that can build a lot of new ideas,” Ranjith Radhakrishnan, Chief Product Officer at
In 2010 we started Paytm. Between 2011 and 2020, we have been a payment company and a bank. This decade will see us as a large financial services company from being an internet company.
– Vijay Shekhar Sharma
