Top 10 Successful Entrepreneurs in India that are Changing the eCommerce
E-commerce is growing in a gigantic way to flourish the market with brand products and attract customers to it in a specific way. They use social media platforms like Facebook, Instagram, and other relatable platforms to advertise or campaign particular brand products to gain customers’ attention. When you scroll through such apps, you will get ads for many brand products or startup companies to hike the sales of the products in a significant way.
But the success of eCommerce depends on its leaders and their decision-making skills. So, let’s dive into the list of Top 10 Successful Entrepreneurs and how they have changed the face of the eCommerce industry in India through their eCommerce brand.
1) Sachin Bansal & Binny Bansal
Founded: October 2007
Sachin Bansal and Binny Bansal started the business model from a garage and used to deliver books to their customers independently. With time and hard work, they became successful in the business and were listed as one of the best entrepreneurs in India.
The secret to the rise of the business was different skills and the same thinking frequency to raise the company to the pinnacle. Sachin Bansal has a good command of marketing and content management, website design, and SEO work. In contrast, Binny Bansal looks into the supply side to strengthen the business and integrate technology and other frontend and backend systems.
Flipkart accelerated its customer-focused mission and transformed eCommerce in India through technology while sustaining job creation and investment in India, one of the largest and fastest-growing economies in the world.
In the first two weeks of the festive sales, from September 22 to 30, homegrown e-commerce business Flipkart emerged as the leader in gross merchandise value (GMV) and order volume, according to a Redseer analysis published in October of last year. According to the survey, Flipkart held a 62% market share in global merchandise value (GMV) during the period in question, which saw the Indian e-commerce sector generate USD 5.7 billion in sales.
On reaching its 10-year milestone, Flipkart’s Founder Sachin Bansal said, “There were ups and downs, but I think history will remember us for two things. To consumers, Flipkart will be remembered as the company that created Indian e-commerce, which brought to the average Indian’s doorstep a wide range of affordable, quality products. The other is Flipkart’s contribution to creating the startup ecosystem in India. Hundreds of startups focussed on solving for India have been inspired by Flipkart to create products that improve people’s lives.”
Annual Turnover: Rs 51,176 crore (FY 2021-22)
2) Bhavish Aggarwal & Ankit Bhati
Founded: December 2010
It took 3-4 years to set the business to rise to a peak, and from then, there was tremendous growth and sustainability in the industry to reach as many people as possible.
The secret to achieving such a hike in business strategies is the clarity of the thoughts that you want to put in to get the desired result. With clarity and focus, you can achieve what you want to get in, and this may lead to chaos. As Bhavish mentions, a grounded beginning helps establish long-term growth and sustainability. For a good start, he focused more on consumer essentials and financial systems in a better way.
According to a previous ET story, the programme introduced three years ago as a pilot trial in Delhi has grown to include over seven cities nationwide and now accounts for 15% of the company’s overall revenue. In addition to being commonplace on Indian highways, these three-wheelers have a competitive advantage over other taxis because of their low prices, which, while they vary depending on the city, are typically about Rs 1.5 per km less expensive than Ola’s lowest-cost service, Micro. A ridesharing business with headquarters in Bengaluru, Ola Cabs also rents out automobiles and delivers food. In 2018, it expanded to Australia and New Zealand, and in March 2019, it started operating in the UK. In February 2019, Ola separated its operations for electric vehicles into a new division called Ola Electric Mobility.
“We believe India can lead the world’s EV market, which is our mission. Indian companies should be the world’s leading EV firms. Not just Ola, other good companies can be a part of the EV revolution,” said Aggarwal during his interaction with reporters during the launch of the OLA scooter.
Annual Turnover: Rs 980 crore (FY 2021)
3) Vijay Shekhar Sharma
Vijay Shekhar Sharma, the CEO of Paytm, dreams high despite being from a small village near Aligarh. The place had a limited mobile network and internet connectivity; still, he always hoped to start a business of his own and become one of the most successful entrepreneurs in India.
The secret to the growth of such a business strategy is to work every day to make history and have the potential to change the destiny of the country you reside or else you are wasting time. As he says, never stop for anything small; each effort matters greatly.
Paytm, which began as a platform for online cell phone recharges and bill payments, allows its users to do practically any transaction with a single click. Paytm has amassed over 35 crore registered users in just 12 years, which is still growing. Initially, only a few limited services, such as cell and DTH recharges and shopping bills, were paid using an online wallet or e-commerce site. This site has developed over time, bringing anything and anything within the purview of its activities. Customers can now reload their Metro cards, pay their water and electricity bills, transfer money to other bank accounts, reserve hotels, buy rail and bus tickets, and more. With the inclusion of e-retail and m-commerce outlets, the most recent Paytm Success Story is constantly growing.
“India is in the middle of a technology revolution as consumers, and small businesses adopt technology at a rapid pace. I believe India will become an exemplar, especially in payments and financial services,” says Paytm founder & CEO Vijay Shekhar Sharma.
Annual Turnover: Rs ₹5,264 crore (FY 2022)
4) Ritesh Agarwal
Startup: OYO Rooms
Ritesh failed in a few business setups and found a different business idea to help travellers get a hotel at a cheap rate. And that is how the startup Oravel came on the screen and was renamed OYO rooms in 2013.
The secret to the success of such business strategies is learning from the mistakes and implementing them to grow with the help of a support team.
OYO began operations in April 2013 and has grown to become the third-largest and fastest-growing chain of hotels, houses, and living spaces globally. As of right now, it has more than one million rooms in more than 43,000 hotels. The company provides access to more than 130,000 homes worldwide through its holiday home business to tourists and urban residents.
“Leaders shouldn’t just build and accumulate wealth but give back to society.” – Ritesh Agarwal, Founder and CEO, OYO Hotels & Homes.
Annual Turnover: Rs 4,905 crore (FY 2022)
5) Shradha Sharma
The idea behind such a startup was to tell the stories of the entrepreneurs, which many investors funded to gain profitability and hike the business model.
The secret of her success story was to transfer a simple business concept to a startup model to bring out a revolution in the market and be capital efficient.
The organisation’s goal was to establish itself as the go-to resource for finding innovative businesses from India. More than 100,000 stories about startups, small enterprises, and entrepreneurship have been told on YourStory since 2008, and the platform offers an exclusive, extensive library of information about the Indian startup ecosystem.
It operates several other digital platforms available in 12 Indian languages, including My Story, a platform for user-generated content, and SMBStory, which focuses on India’s ever-expanding micro, small, and medium businesses. Other venues include HerStory, which focuses on stories about working women, Social Story, which focuses on social and sustainability tech; and HerStory. With the help of YourStory Education, YourStory Club, and YourStory Events, it has also expanded into other industries.
The largest storyteller in India today, YourStory, has featured almost 12,000 entrepreneurs.
Today, influential figures like Ratan Tata, Vani Kola, Mohandas Pai, and many others support her eight-year-old business venture. The only website in India right now that offers unique business and entrepreneurship tales in 12 distinct languages is yourstory.com. Sharma claims that a strong team is an entrepreneur’s most valuable resource based on her experience of working alone and eventually assembling a group that includes individuals from prestigious media outlets and top B-schools. “I just went with my gut and roped in people with whom I found a certain connection. Ours is an eclectic, crazy and committed team. Over the last eight years, we have written a story every day, and today, there are over 37,000 stories that we have covered.”
Stories have the power to transform, connect and inspire people all over the world. But I am more curious about the stories people live than the stories they tell. I am not interested in what the world considers beautiful. Tell me of your scars, mistakes, and failures. – Shradha Sharma
Annual Turnover: Rs. 27 crores (FY 2019-20)
6) Nandan Reddy, Sriharsha Majety & Rahul Jaimini
The three heroes put their minds on the food delivery system and made it easy for the customers to get the food to their doorstep. Such business strategies have turned into a unicorn in the marketplace to attract a massive crowd.
The secret behind such success stories is customer experience. They focus more on customer choices and logistics operations for the success of the business ideas.
Swiggy’s strengths, which have helped it grow from a hyperlocal food delivery business to a premier logistics hub, enable lightning-fast delivery for clients and a rewarding work environment for its staff. Swiggy has over 50,000 restaurant partners and is India’s largest meal delivery service! It is continually generating headlines in the industry with Swiggy’s New Supply and the most recent introductions of Swiggy Instamart, Swiggy Genie, and Health Hub.
Growth is about learning and evolving with the different variables and moving parts. – Sriharsha Majety
Annual Turnover: Rs. 2500 crores (FY 2021)
7) Deepinder Goyal
The idea behind such a business model was to get the restaurant menus and other information in a simple and accessible way. The original name of the business idea was Foodiebay, launched in 2008. Later in 2010, it was renamed Zomato.
The secret behind this idea is Intellectual honesty. You need not blame the situations or circumstances but focus on resolving the problem or issues to provide the best customer service.
Customers can order food delivery, book a table, read and write reviews that other customers have written, see and submit images, and pay for meals at restaurants using Zomato. Hyperpure, a one-stop procurement service run by Zomato, provides restaurant partners with excellent nutrition and kitchenware. Additionally, it offers open and flexible revenue potential to the delivery partners. On the other hand, it provides restaurant partners sector-specific marketing tools that let them engage and attract clients to expand their businesses while delivering food in a dependable and effective last mile.
Everything is solvable. You have to put your mind to it- Deepinder Goyal
Annual Turnover: Rs 4,109 crore (FY 2021-22)
8) Richa Kar
The idea behind such a business setup was to make it easy for Indian women to find the best Lingerie in the online store.
The secret to such a business model was determination, passion, and conviction.
In 2011, Zivame was established to enable women to shop for intimate apparel without embarrassment. All of Zivame’s innovations, from their online-offline storefronts to the introduction of new categories, are fueled by never-before-considered concepts. They are now moving forward and investing in a group of people who affect women in various ways.
The company underwent management changes in its early years, and since 2017, it has concentrated on developing sustainably by utilising both online and offline strategies. As a result, Zivame’s losses in FY19 dropped from INR 32.11 Cr in FY18 to INR 19.56 Cr, a 39% decrease. According to the company’s papers, the firm’s total income for the fiscal year 2018–19 was INR 141.89 Cr, while its total costs were INR 160.01 Cr.
Product sales, which totalled INR 137.42 Cr in FY19, up 59.49% from INR 86.16 Cr in 2018, are Zivame’s primary source of revenue. The expansion rate is similar to what we saw last year when the company recorded a 56% increase in revenue. Additionally, service sales for the company remained constant at INR 48 lakh, while other revenue decreased to INR 3.98 crore.
“If you are strong, focused and passionate about what you want to do, everything falls in place.” – Richa Kar.
Annual Turnover: Rs 4,109 crore (FY 2021-22)
9) Aditi Gupta
The concept behind such business strategies was to spread awareness of the use of sanitary habits during times of menstruation cycles. Such a project was started at NID as a crowd-fund initiative and got numerous support to run the program.
A rapidly expanding firm called Menstrupedia provides instructional resources with a strong social impact in the form of comic books, workshops, and animated videos. More than 25,500 schools, hundreds of NGOs, corporations, and government agencies in India and several other nations worldwide use the resources created by Menstrupedia. Menstrupedia is a decisive step in starting the neglected debate about puberty and growing up.
Menstrupedia has been significantly impacted since its founding, and Gupta has bigger aspirations for its future. The portal has already greatly aided in starting a dialogue on menstruation. The organisation uses a website, social media, a YouTube channel, and a comic book to raise awareness about periods and serve as a resource for girls and women. It currently has over 37,000 Likes on Facebook, a forum encouraging participants to express their opinions freely, and a publication reaching 30,000 females across India.
Every story, each poem that a person shares, and each voice that speaks against menstrual taboo, inspires me. – Additi Gupta
Annual Turnover: Rs 24 crore
10) Falguni Nayar
She established Nykaa with her 25 years of experience in financial services. She was an IIM Ahmedabad alumna and founded beauty and skincare products to run the business in a significant way.
The secret behind such a business model was determination, willingness to bring a change in society and customer satisfaction.
The e-commerce platform with the business mentioned above helps generate huge profits. Such startups are growing in a diverse way to attract a massive crowd towards it, and such a process helps raise sales in the marketplaces significantly. Such e-commerce platforms integrate with the latest technology, tools, and software to run the business. The transaction process in such a platform is transparent and straightforward to access to run the process quickly. It is easy to know that an e-commerce platform eliminates the middleman to serve the purpose and satisfy the customers by dealing with the manufacturer directly. Even the entire process of in and out of the stocks can be tracked in such an e-commerce business model, along with warehouse management, logistics, and delivery of the stuff in real-time.
By addressing the void of online merchants for beauty items, businesswoman Falguni Nayar aimed to dominate the beauty sector in 2012 with the launch of Nykaa. The online market seemed promising in light of the significant influence online sources like social media and online videos have on women’s perceptions of attractiveness. Compared to online stores like Amazon or Flipkart, Nykaa faced less competition in addressing the issue of product availability and fraudulent goods in tier 2 and tier 3 towns because it concentrated more on other markets. Nykaa offered a wide range of interests in both high-end and low-end pricing points, although selling cosmetics was its primary source of income.
“I want to stand for women who want to be beautiful for themselves and not for any men or other women” – Falguni Nayar.
Annual Turnover: Rs 3200 crore (FY 2022)
E-commerce offers young sellers the chance to assemble huge fortunes if willing to pursue it. In India, e-commerce is increasing, leading to a growing number of young people joining the fray. In addition to improving the nation’s economy, this will bring down the unemployment rate among youths.
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