Startup and Innovation Management

Power of Customer • “ On a rainy day in October 2007, a man bought a book online. We caught up with the first Flipkart customer to hear his story” • Bengaluru: Delivered their first online order in October of that year to V V K Chandra, a customer in Mahabubnagar. • But even Hyderabad’s best didn’t stock the one book he craved – John Wood’s memoir Leaving Microsoft to Change The World 24

Power of Communication • “We looked for the book for two days across 50 bookstores in Bangalore and even called up a few in Delhi and Mumbai,” remembers Binny. He dashed off an email to Chandra. • “I finally spotted the book at Sapna Book Store in Indiranagar,” Binny recalls. 25

• Flipkart announced that it has acquired fashion and lifestyle e-tailer Myntra, the Company said it has raised $210 million led by DST Global, one of the leading global investment groups focused on the Internet. • With this, the total amount of fund raised by the online marketplace is pegged at $750 million (Rs 9,000 crore) since its inception in 2007. The company is already being valued at $2 billion post the Myntra acquisition. 26

Power Passion 27 • Flipkart have acquired several businesses since its inception. This list includes; • We Read, • Mime 360, • Chakpak.com and • Let’s Buy.com. According to Sachin Basal, they have reinvented the wheel of e-commerce in India.

Empowering the Employees • Ambur Iyyappa .... An apprentice 28 from Ashok Leyland.. Joined First flight Flipkart says that Iyyappa owns is valued at millions of dollars • Iyyappa -. First employee of Flipkart, salary less than 8000 per month • “Iyyappa used to manage all of this manually,” Sachin says. “There was no computerized system. He used to create these sheets and email them to the boys. He had taught them how to login to an email id and check the latest status.” • He has been given share holdership

Empowering the customers • NIFT students Praween KR and Sindhuja K set up Young Trendz to target fashion- conscious 20-somethings; their bootstrapped brand sold 25,000 units on Flipkart in five days during the 2017 festive sale. 29

Power of Managing Money • Co-Founder of Flipkart Sachin Bansal, got Entrepreneur of the Year Award 2012-2013 from Economic Times, leading Indian Economic Daily. • Flipkart.com was awarded Young Turk of the Year at CNBC TV 18’s ‘India Business Leader Awards 2012’ (IBLA). • Flipkart.com- got Nominated for IndiaMART Leaders of Tomorrow Awards 2011 310

• According to reports, 31 Flipkart had declared a loss of $1.3 Bn (INR 8,771 Cr) in FY17.

Power to Exit • Conflicting reports say that while Amazon could buy 60 per cent stake in Flipkart, 32

THE FLIPKART-WALMART DEAL IS A GAME CHANGER • Walmart’s jaw-dropping investment in Flipkart is the summer blockbuster we have all been waiting for—a marriage between the iconic American brick-and-mortar company and an Indian e-commerce start-up that has shaken up the retail and e-commerce scene in India and beyond. 33 1

Power to Sacrifice 34 • Given Flipkart's high valuation of $20bn, investors who exited got a good deal. • Venture capital firms Accel and Tiger Global invested more than eight years ago when Flipkart was valued at just $50m - and they have now exited with more than 400 times what they invested. • The SoftBank Vision Fund led by Masayoshi Son was a big beneficiary of the deal - it had invested $2.5bn in August 2017 for a 20% stake and it exited with $4bn. • Flipkart co-founder Binny Bansal retains his stake. So do Microsoft, eBay and China's Tencent, who invested a total of $1.4bn in April 2017.

Agreed to Differ • In May, global retail giant Walmart announced it would buy 77 percent of Flipkart for $16 billion as it tries to make an entry into India’s growing e- commerce market. • Sachin Bansal announced his resignation following this deal 35

• After Flipkart exit, Sachin Bansal plans up to $1 billion VC fund • Bansal could contribute around 40 percent of the fund and could finalise the venture by the end of the year.

Exit of Krishnamurthy

Empowering StartUps

Creating New Generation





• What is your THANK YOU Entrepreneurial values ? • Does it Empower others?

Entrepreneurial Process • Baba Gnanakumar Disrupting the disruption



• Sort It is an application that will assist people to consume food safely. There are so many food-based allergies and if not taken proper care can be fatal too. Passing all the tests, this app will soon hit the market, making it available for all. • Speaking of one it’s kind type of a new venture, Karan says, “I believe in identifying the reason why something is the way it is because only then can one easily facilitate benefits around it. This is what according to me is an ideal entrepreneurial mindset that definitely opens windows of opportunities for exponential growth in the industry.”

How Paper N Parcel, a start-up by 13-year-old Tilak Mehta, parcels packages in Mumbai within a day









Entrepreneurial Process

The Entrepreneurial Process It is opportunity driven It is driven by a lead entrepreneur and an entrepreneurial team It is resource parsimonious and creative It depends on the fit and balance among these It is integrated and holistic





Identifying the Opportunity Bhavish Aggarwal • Education: B. Tech in Computer Science from IIT, Bombay. • Prior work experience: Worked in Microsoft Research, Bangalore for 2 years, right after college. • While trying to chase his dream of entrepreneurship, he started an online holiday and tour planning service on the side, before changing that into OlaCabs. OLA - Started in January 2011 by two IIT ians, the firm is touching a milestone by providing cab booking service to their customers



Challenges and Contribution • While trying to keep his holiday and tour planning business afloat, Bhavish had to travel from Bangalore to Bandipur, for which he rented out a car, which ended in a very bad experience. The driver stopped the car in the middle of the journey and demanded a renegotiation of what Bhavish was paying. After being refused, he proceeded to abandon him enroute his destination. • This was in December 2010, where he was joined by his co-founder Ankit Bhati in his start-up journey. His parents didn’t agree with his idea in the beginning of course, like all Indian Parents won’t. They were thoroughly displeased with his decision to become a ‘travel agent’, but when OlaCabs received it’s first round of funding from two angel investors, they started to believe in the change •.





• In 2010, Aggarwal had a very different idea in mind for Ola. He wanted to start a business that would organise trips for customers wanting to travel and get out of town. The company at the time was called OlaTrip.com. He incorporated the company as ANI Technologies Pvt Ltd on December 3, 2010, at a small office in Kitchlu Nagar, Ludhiana, with his father, Naresh, acting as a full-time director. • Aggarwal’s father provided more than just monetary support for the fledgling business.





Resources Mobilisation

Resources Mobilisation Ola – Funding - Resources Challenge: Getting Funds Contribution: Capital infusion

Resources Mobilisation Challenges and Contribution • OlaCabs partnered with a number of Taxi Drivers, and added a touch of modern technology to the whole set up, where people could book cars at short notice through their call centers and from their app. • Bhavish who works 16 hours a day, promises transparency in prices, where OlaCabs gets a commission on every sale that the taxi driver makes.

Managing the Enterprise





• As of 2019, the company has expanded to a network of more than 15 lakh (1.5 million) drivers across 250 cities. In November 2014, Ola diversified to incorporate auto rickshaws on a trial basis in Bengaluru.

• The cab-hailing venture has emerged as the country’s second-most-valuable unicorn, worth over $5 billion. • Founded in 2011 by Bhavish Aggarwal and Ankit Bhati, Ola is now headed to the UK after expanding to Australia a few months ago. According to market intelligence firm KalaGato, Ola increased its market share in India from 53% in July 2017 to 56.2% in December while its rival Uber’s share slipped from 42% to 39.6%. Ola saw its losses widening to Rs 4,897.8 crore during 2016-17 but its total income grew 70 per cent Managing the Enterprise