The problem Meesho saw that everyone else ignored In 2015, Indian e-commerce was a two-horse race. Flipkart and Amazon India were spending billions to acquire the same customer: urban, English-literate, credit-card-holding, and concentrated in India’s top eight metro cities. Every rupee of marketing spend was aimed at the same 50 million people. The other 950 […]

The numbers that proved developer-first works By March 2025, Razorpay had become India’s payment infrastructure backbone through a strategy most fintech companies overlooked: winning developers before winning merchants. FY25 consolidated revenue reached ₹3,783 crore, up 65% from ₹2,296 crore in FY24. This marked the company’s strongest growth year as payment gateway, business banking, and international […]

By March 2025, Physics Wallah had built something rare in Indian edtech: a profitable business model scaling toward IPO. FY25 revenue reached ₹2,887 crore, up 49% from ₹1,941 crore in FY24. EBITDA turned positive at ₹193 crore against a loss of ₹829 crore the previous year. Net loss narrowed 78% to ₹243 crore from ₹1,131 […]

By March 2025, Tata 1mg had become India’s dominant online pharmacy. Revenue hit ₹2,360 crore, up 22% from the previous year. Market share stood at 31%, ahead of PharmEasy and Apollo 24/7. The company cut advertising costs by 37% in FY24 while maintaining revenue growth. Losses narrowed 75% to ₹313 crore. This happened while competitors […]

Most beauty tech companies went public bleeding cash. Nykaa listed profitable. FY25 revenue reached ₹9,800 crore, up 24% from FY24. The beauty vertical alone posted GMV of ₹11,775 crore with 30% year-over-year growth. EBITDA grew 37% to ₹474 crore. Net profit jumped 81% to ₹72 crore. The EBITDA margin improved to 6.5% in Q4 FY25, […]

FY25 revenue reached ₹12,313 crore, up 17.8% from the previous year. This made Zoho the first bootstrapped Indian startup to cross the ₹12,000 crore milestone. Net profit stood at ₹3,191 crore, down slightly from FY24 as the company poured investments into AI infrastructure and product development. The Zoho suite contributed 57% of revenue at ₹7,051 […]