In the blink of an eye 2017 has reached its end. Technological development is at its peak. With AI speaking in their own secret language, to the first robot citizen in the world. More start-ups have emerged, escalating grandly and promising a bright future. We don’t know what the future of these startups would be. So, at the end of this year, we look at 5 promising start-ups from 2012 and where have they reached in 5 years:
iStream: Rated as one the of the 12 start-ups to look out for by Silicon India News, iStream was a pioneer online video portal. It offered premium video content to its users and at some point, it had 6 million unique video users and 12 million video views. These figures might not look much today, but if think about data in 2012, we did not have such progressive mobile data policies. Access to 2G on your phone was an expensive deal, and internet services at home were equally expensive. What iStream provided back then, is what most Indians are scrambling for today by paying Amazon Prime Video, Netflix, Voot and others. It is rather unfortunate that the business fizzled out by the mid of 2013 due to lack of funding, maybe the Indian terrain was not ready for such services then.
Power2SME: Started in 2012, Power2SME started with the only aim to ‘Empower SMEs to enable the India growth story’. Headquartered in Gurugram and spread across cities of Pune, Ahmedabad, Mumbai, Chennai and Kolkata; the company has only seen growth since its inception. It has been disrupting markets for the last 5 years. In 2017, the company announced that it has secured an additional $36 million capital from its existing partner for its series E financing round. IFC alone invested $10 million in the firm. The company aims to cross a revenue of INR 8000 crore by 2020.
Storify: Rated as one of the best 50 websites by TIME in 2011, Storify was officially launched in April 2011. The website allowed its users to pick up elements from different social media platforms and add them to their links. The website allowed users to change the order of their elements and create stories unique to them. It was used by several media houses to create their stories in one place. In 2013, Storify was acquired by Livefyre, and later became a part of Adobe when the brand acquired Livefyre in 2016. On December 12, 2017, Storify announced that it would not be allowing the creation of new user accounts and would end the accounts of existing users by May 2018. Storify would now only support the “Storify 2” version built into the enterprise Adobe Experience Manager Livefyre product.
Zomato: Rated as one of the start-ups to watch out for by Forbes India in 2001; Zomato is an Indian restaurant locator service. It was started under the name of FoodieBay in 2008 and was named Zomato in 2010. Since 2010 Zomato has been heavily funded by InfoEdge Technologies which now holds more than 50% stake in Zomato. The company rose to becomes one of the most popular services by 2013, it was even seen as the poster boy for startups. Zomato had started expanding in different countries and acquiring markets abroad. However, in 2014-2015 the company hit troubled waters. Suddenly, it looked like Zomato would lose business and join the ranks of old forgotten services. However, the company did a thorough turn-around and today has become a success story again. It now aims at opening a concept like cloud-kitchen allowing restaurants to expand themselves without paying heavy amounts. Zomato currently runs in 23 countries including USA and Australia.
Letsbuy.com: Letsbuy.com had been quietly disrupting market since 2009. The company focused on providing high-end electronic products to its customers and was the second largest online retail shop in India. It was ranked among the top 11 start-ups to watch out for by Forbes India in 2011. However, it was acquired by Flipkart in 2012 for $25 million, the company was shut down and all traffic to letsbuy.com was redirected to Flipkart.