India was one of the global app download leaders last year, thanks to popular games like PUBG Mobile and TikTok as well as social media apps such as Instagram. Unfortunately, consumer spending on these apps lags behind mature markets.
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Ola Cabs
Ola is a taxi-booking service that connects drivers and passengers. Ola does not own the cabs themselves but only partners with drivers who possess valid permits and registered with transport authorities, whether as independent contractors or employees for an operator who owns multiple vehicles.
Bhavish Aggarwal and Ankit Bhati founded Hola! in December 2010 upon graduating from Indian Institute of Technology Mumbai. Although lacking professional experience, these restless spirits saw real world problems that needed solving as an opportunity to offer people better travel solutions. Thus they gave the company its name, drawing inspiration from Spanish word “hola”, meaning hello, to convey that their services were leisurely yet generous.
Although they encountered difficulties, not once did they lose faith in their vision and goals; ultimately they have become one of India’s most successful companies with an annual revenue exceeding one billion dollars!
Flipkart
Flipkart is one of India’s largest e-commerce marketplaces. Offering books, electronics and smartphones across a range of categories including home delivery and payment options for customers based in urban India – as well as superior customer service that has enabled it to compete successfully against its local rivals – Flipkart stands as an online shopping experience like no other.
Launched by Sachin Bansal and Binny Bansal in October 2007, their business initially started as an online bookstore but has since expanded into other categories such as consumer electronics, fashion apparel, home essentials and groceries. Headquartered in Bangalore but registered as a limited liability company in Singapore.
Flipkart’s Big Billion Days sale provides discounts on an extensive array of items, but is facing criticism for allegedly forcing smaller online sellers out of the market and therefore restricting people from purchasing products from smaller vendors. As a response, Flipkart has implemented new policies designed to support small vendors, including offering lower prices and better shipping rates to help maintain them.
PhonePe
PhonePe is an app that enables users to transfer money quickly across the country, buy insurance policies, conduct transactions both online and offline, as well as enjoy exciting offers on mobile phone recharge, bill payment and more.
This platform supports multiple Indian languages and boasts a substantial user base across India. Security measures include multi-factor authentication and secure connections to banks; however, competition and regulatory uncertainty pose potential hurdles to its operations.
Since 2015, Walmart-owned app Tez is one of the world’s largest digital payment platforms with nearly 500 million registered users and more than 3.5 crore merchants on board. Tez utilizes UPI-based mobile payments and aims to become an Indian financial superapp.
PhonePe provides its users with more than just cashback. Their in-app wallet connects directly with their bank account and can be used for various types of transactions, from sending money securely via messaging services and transfers directly from the app, to offering secure messaging features and the capability of making real-time transfers of funds directly through it.
MapMyIndia
MapmyIndia is a tech company that develops digital map data, telematics services and location-based GIS (geographic information systems). They hold an exclusive monopoly in India for these areas and hold 82% market share for navigation services. Their products include GPS devices and in-car navigation/infotainment tablets preloaded with maps featuring voice guidance, live traffic alerts and ETA features – plus much more.
As well as GPS mapping, the company offers 3D visualisations of roads and parking spaces, along with its unique digital address system eLoc, which helps people locate buildings, homes, shops and businesses using a 6-character code they can easily remember, type in and share.
In 2022, they sold 1.9 million GPS devices with map data built-in and claimed to have the largest customer base for in-car navigation services in India. Its technology can be found in vehicles from Maruti Suzuki, MG Motors, and BMW among others. RealView, their most recent release – a full panoramic 3D metaverse mapping service comparable to Google Maps that’s free for download and installation – offered them yet another competitive edge against rival services.
