Introduction of Udaan
Udaan start-up is a B2B exchange platform which is becoming popular among the business owners and merchants. The start-up makes the entire trade process a ton simpler in India. It accumulates and brings all the producers, dealers, wholesalers and retailers to a single stage.
On this platform, all the producers can introduce and create brand awareness of their products in an easy manner. The interested party have the opportunity to choose and get those products at their doorstep.
Additionally, all the retailers and wholesalers can publicize and purchase an item directly from the manufacturers without any constraint of time and place.
How Udaan started?
Udaan start-up was set up three years back in 2017 and is continuously rising in size since its commencement. It was begun by three Ex-Flipkart representatives Vaibhav Gupta, Amod Malviya and Sujeet Kumar; three founders who started this start-up with a vision to transform the whole trading procedure. They aimed to create a stage that can reform the business process by helping all the little market traders.
Udaan start-up offered the opportunity for countless individuals to enhance their standard of living by earning more. The platform eliminates the difficulty and confounding pieces of trading basics, hence making it safe and advantageous.
In 2016, the fellow patrons watched and investigated the business market for a half year. Following that, they contacted numerous traders, retailers and producers to talk about the terms and conditions of the B2B start-up. Finally, in the year 2017, the platform’s beta version was launched and made accessible for the general population.
Services offered by Udaan
Udaan aimed to become the back-end of the business market by giving a platform to all the
stakeholders involved in the business process.
The simple-to-use application enables the producers, wholesalers and retailers to:
Purchase and sell on the terms they want with secure installments and bother free coordination.
Develop their systems through access to new districts and clients with the latest technology.
Find clients, providers and products over different classifications.
Associate with vendors and potential customers directly for the exchange.
Purchase and Sell
The application makes the purchase extremely simple and convenient. One can buy the required product easily by tapping the single button of the app present in the smartphone. Also, if you need to sell your product, you can add the details of the product on the app and can start your business quickly. Udaan encourages secure installments and handles all coordination itself, thus making it convenient for its users to manage the processes.
Udaan furnishes access to new markets for all its purchasers and vendors. It makes the whole procedure very quick and minimizes the efforts needed in the investment process. It assures the sellers and buyers a low -wastage and solid transportation across the country. Udaan capital, the NBFC arm concentrated on SME financing administration that gives monetary incentives to dealers and purchasers to develop their business.
The Udaan marketplace feature facilitates effective and helpful exchanges between purchasers and sellers. The feature aims to offer the best quality products at the lowest prices to the users.
Udaan start-up empowers direct interface between purchasers and vendors. Both the parties can have a one-to-one conversation to arrange terms of exchange involved in the trading procedure. Udaan additionally, provides ‘chat feature’ that permits an individual to have secure discussion progressively.
Udaan Funding Rounds
In 2017, after the platform made open for public, Udaan raised financing of around $900 million from different organisations. Some of the major financers are Tencent, Altimeter, Hillhouse, Citi Ventures, and GGV Capital.
Udaan start-up valuation i.e., till the end of the year 2020 is around $7.5 billion. It accomplished the coveted unicorn status in September 2019 and is recognized as the rare start-up to cross a private valuation of billion dollars after the launch.
The company is directing and motivating its fundraisers to expand the reach of the platform. They are encouraged to expand their chains to reach more customers and vendors.
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Udaan Business Model: How Udaan earns?
Udaan start-up primarily generates revenue through commission expenses on exchanges made by the dealers.
The platform additionally charges for logistics as well from the vendors and manufacturers. Another source of revenue generation of the start-up is the interest earned by financing its end retailers. Udaan provides working capital ‘loan’ to them and earns a reasonable amount of interest in consideration.
The platform advance loan book has given out 170-200 crores credit to different vendors. It is currently planning to take the amount up to 750 crores till the end of this financial year.
Udaan Most Popular Ad Campaign
Udaan start-up initiated a new promotional advertisement campaign to make its presence at a huge scale. The slogan of the recent ad campaign “Khole Manafe ki Shutter” gained much popularity among the audience. The hashtags #kasamcustomerki draws the attention of the retailers and shopkeepers towards the Udaan application.
They can install the app on their smartphones and can get the benefit of all the offerings provided by Udaan Start-up Company. Complete trade procedure can be completed on the single app-including exchanging of products, getting credit and loans etc. The start-up advertised the campaign through TV and digital platforms and tried to connect personally with the audience.
More about Udaan
In the new financing round, Udaan has raised more than half a billion dollars from the industry. It ensures that all the Kirana stores and chemists can also start registering on the platform from now onward.
Co-founder, Sujeet Kumar is currently planning to expand the supply network and reach of the app with fresh and flowing capital.
Udaan is additionally planning to propel the ‘Udaan Capital’ at a large business scale.
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