Backstage with Millionaires
Backstage with Millionaires
  • 869
  • 298 742 591
How Porter Became a 8000 Crore Rs Logistics Company? (Startup Case Study)
00:00 Intro
01:26 Understanding the Problem
03:29 How Porter Started
05:51 Early Days
07:53 Things Turned Bad
09:37 Rebuilding Porter
12:31 Future for Porter
In FY-2023, India's logistics costs exceeded 14% of its GDP, significantly higher than China's 10%. This highlights the inefficiency and high expenses of India's supply chain compared to more efficient nations like Vietnam and Thailand. The Indian government has acknowledged this issue, launching a national logistics policy in 2022 aiming to reduce these costs to 8%, aligning with developed countries. However, government policies alone are insufficient; the private sector and startups must also contribute to addressing these inefficiencies.
One such startup, Porter, has emerged as a rapidly growing logistics company in India. Inspired by Uber's transformation of the taxi industry, Porter aims to revolutionize last-mile logistics in India, targeting a $200 billion market. To understand Porter's impact, it is essential to comprehend the problem it addresses: intracity logistics, which involves transporting goods within a city. Efficient logistics are crucial for economic productivity, and in India, 90% of the sector remains unorganized.
Porter was founded by Uttam Digga and Pranav Goel, two IIT Kharagpur alumni who identified the inefficiencies in the logistics sector, similar to those in the pre-Uber taxi industry. Small business owners faced challenges such as difficulty finding drivers, high costs, and unreliable delivery times. Inspired by Uber's success, Digga and Goel sought to create a marketplace connecting truck drivers with customers, improving vehicle utilization and reducing costs.
In 2013, while working as analysts at JP Morgan, Digga and Goel were inspired by Uber's use of technology to optimize the ride-hailing industry. They noticed numerous light commercial vehicles parked unused and realized the potential for a similar solution in logistics. They spoke with over 500 truck drivers and discovered the inefficiencies in their industry, with drivers averaging only 1-2 orders per day despite the capacity for 4-5. This led to the birth of Porter, aiming to replicate Uber's model for goods transportation.
Initially, Porter operated manually with Digga and Goel dividing responsibilities: Digga onboarded truck drivers, while Goel secured customers. Using just a phone and Google Sheets, they managed the operations without an app. As their customer base grew, they brought in Vikas Choudhary, a tech expert from IIT Kanpur, to develop their technology platform. By pitching their service as 20% cheaper, Porter quickly attracted over 500 business customers, processing 3,000 bookings monthly and generating significant revenue.
Porter's early success enabled them to raise $500,000 in seed funding and $5.5 million in a Series A round. However, growth brought challenges. In 2015, flush with funding, they prematurely expanded into intercity logistics, an already crowded market. This expansion strained their resources, leading to a temporary closure of the new vertical and layoffs. Additionally, their initial pricing strategy became less effective, necessitating a focus on improving service quality.
To enhance customer experience, Porter ensured timely driver arrivals and deliveries. They leveraged their app to track drivers via GPS, providing real-time updates to customers and reallocating drivers in case of delays. They also addressed inefficiencies at loading and unloading stations by introducing per-minute charges, and incentivizing punctuality among customers.
These improvements led to significant growth, with Porter ensuring that 80% of their drivers received return trip orders, increasing their earnings by 20-30%. This efficiency attracted attention, resulting in Mahindra Group merging their logistics platform, SmartShift, with Porter and investing $10 million.
In 2020, Porter expanded into two-wheeler parcel delivery, quickly surpassing established competitor Dunzo in Bengaluru. Their success continued, with a $100 million Series E funding round in 2021 and expansion to over 20 cities. By FY23, Porter achieved a revenue of ₹1,750 crore. Despite their scale, Porter maintained high service quality, reflected in their 4.8 rating on the Google Play Store from over 650,000 users.
Porter's future holds vast opportunities, particularly in the $40 billion intracity logistics market and the $200 billion intercity market. With cost-effectiveness and timely service as their USP, Porter aims to replicate their intracity success in intercity logistics. They are also incorporating electric vehicles into their fleet, reducing operational costs and environmental impact.
Additionally, drone deliveries present a potential growth avenue for Porter. While still in its early stages in India, successful drone delivery trials by other companies indicate its feasibility, especially in regions with poor road infrastructure.
#startup #business #entrepreneur #porter
Переглядів: 1 460

Відео

Trouble Brewing at Third Wave Coffee? - Indian Startup News 214
Переглядів 24 тис.9 годин тому
IN-SPACe programme: www.inspace.gov.in/inspace?id=inspace_pie_program_page Notion Dashboard: meadow-pillow-7fa.notion.site/BwM-Startup-Funding-Database-303101b874824f4c91fae9fc8ce6d450 This week funding:meadow-pillow-7fa.notion.site/W9-Q1-FY25-e7e12e19afd1442aa20dd2bd1c1a5914 Funding chart: docs.google.com/spreadsheets/d/10-sWaL38VYz CqQNMQEwsG9xRBAx3nwOLRKzRD4BkY/edit#gid=0 00:00 Trouble Brewi...
Shark Tank India Startups And Where They Are Now (Season 1) - Part 2
Переглядів 33 тис.12 годин тому
Check out Odoo's Project Management app here: www.odoo.com/r/GtSs 00:00 Intro 00:30 Theka Coffee 02:51 Sponsor 04:57 Loka 07:39 Torch It 09:22 QZense 12:33 Namhya Foods Theka Coffee Before he went on stage, Bhupinder shared something profound his dad told him: “Come what may, always remember that they will not make you. You have to make you. If they’re sharks, then you’re a lion. Go win it!” Bu...
40 Million+ Students, Bootstrapped & Highly Profitable! Journey of Programming Hub
Переглядів 10 тис.21 годину тому
In this episode of Millionaire Mondays, featured in Startup Spotlights, an initiative by Google Play, we sit down with Tito Aby Idicula and Nigel Crasto, founders of Programming Hub, one of the largest apps to learn programming. Since its inception in 2016, Programming Hub has taught coding to more than 40 Million people, reaching almost every single country in the world. 00:00 Introduction 03:...
Swaayatt Robots makes driverless cars a reality in India - Indian Startup News 213
Переглядів 11 тис.День тому
This video is sponsored by Odoo. Check out Odoo here: www.odoo.com/r/uGw Notion Dashboard: meadow-pillow-7fa.notion.site/BwM-Startup-Funding-Database-303101b874824f4c91fae9fc8ce6d450 This week funding:meadow-pillow-7fa.notion.site/W9-Q1-FY25-e7e12e19afd1442aa20dd2bd1c1a5914 Funding chart: docs.google.com/spreadsheets/d/10-sWaL38VYz CqQNMQEwsG9xRBAx3nwOLRKzRD4BkY/edit#gid=0 00:00 Swaayatt Robots...
Top 10 Jharkhand Startups
Переглядів 39 тис.14 днів тому
00:00 Intro 00:48 Karlosi Technologies/Park 02:20 Herbino 04:38 Portal.Learn 06:15 Goat AI 07:44 Onpery 09:09 Johargram 10:13 366Pi/FloCard 11:31 The Open Field 12:19 oho Living 13:30 Puresh Daily Jharkhand, one of India's poorest states, is showing surprising ambition in its startup ecosystem. Despite having a per capita income of just $1,107 and only 1,200 DPIIT-registered startups, Jharkhand...
Jio Finance vs Adani One: Fight for Fintech Superapp? - Indian Startup News 212
Переглядів 32 тис.14 днів тому
Notion Dashboard: meadow-pillow-7fa.notion.site/BwM-Startup-Funding-Database-303101b874824f4c91fae9fc8ce6d450 This week funding:meadow-pillow-7fa.notion.site/W9-Q1-FY25-e7e12e19afd1442aa20dd2bd1c1a5914 Funding chart: docs.google.com/spreadsheets/d/10-sWaL38VYz CqQNMQEwsG9xRBAx3nwOLRKzRD4BkY/edit#gid=0 00:00 Jio Finance vs Adani One 03:00 Boat’s Wearables Business is Sinking? 04:21 Rebel Food’s ...
How @FanCode Is Changing Sports Consumption in India?
Переглядів 8 тис.21 день тому
Today's episode of Millionaire Mondays is extra special - because it's also the first episode being featured in #StartupSpotlights, a Google Play initiative, where inspiring startup founders share their untold growth stories. In today's episode, we're in conversation with Yannick Colaço, co-founder of @FanCode, a one-stop destination for sports fans in India. FanCode has more than 100M lifetime...
Adani buying stake in Paytm? - Indian Startup News 211
Переглядів 37 тис.21 день тому
Check out ODOO here: www.odoo.com/r/6kh Notion Dashboard: meadow-pillow-7fa.notion.site/BwM-Startup-Funding-Database-303101b874824f4c91fae9fc8ce6d450 This week funding:meadow-pillow-7fa.notion.site/W9-Q1-FY25-e7e12e19afd1442aa20dd2bd1c1a5914 Funding chart: docs.google.com/spreadsheets/d/10-sWaL38VYz CqQNMQEwsG9xRBAx3nwOLRKzRD4BkY/edit#gid=0 00:00 Adani buying stake in Paytm? 02:24 Paytm layoffs...
Why India's OG Electric Scooter Company is Failing? - Ather Energy Case Study
Переглядів 441 тис.21 день тому
Why India's OG Electric Scooter Company is Failing? - Ather Energy Case Study
Top 10 Nagaland Startups - Backstage With Millionaires
Переглядів 63 тис.28 днів тому
Top 10 Nagaland Startups - Backstage With Millionaires
Tesla is Suing Tesla in India - Indian Startup News 210
Переглядів 19 тис.Місяць тому
Tesla is Suing Tesla in India - Indian Startup News 210
Bhavish Aggarwal Plans Krutrim AI Cloud, Microsoft Azure’s Alternative - Indian Startup News 209
Переглядів 28 тис.Місяць тому
Bhavish Aggarwal Plans Krutrim AI Cloud, Microsoft Azure’s Alternative - Indian Startup News 209
Shark Tank India Startups and Where Are They Now (Season 1)
Переглядів 266 тис.Місяць тому
Shark Tank India Startups and Where Are They Now (Season 1)
EMotorad is Building the World’s Largest Electric Cycle Factory - Indian Startup News 208
Переглядів 18 тис.Місяць тому
EMotorad is Building the World’s Largest Electric Cycle Factory - Indian Startup News 208
How NOISE Built a 4000 Crore Rs Wearable Brand - Startup Case Study
Переглядів 215 тис.Місяць тому
How NOISE Built a 4000 Crore Rs Wearable Brand - Startup Case Study
Ola Electric Tops India's EV Two Wheeler Market - Indian Startup News 207
Переглядів 17 тис.Місяць тому
Ola Electric Tops India's EV Two Wheeler Market - Indian Startup News 207
Top 10 Haryana Startups
Переглядів 17 тис.Місяць тому
Top 10 Haryana Startups
How Namma Yatri Ended Ola and Uber's Dominance?
Переглядів 124 тис.Місяць тому
How Namma Yatri Ended Ola and Uber's Dominance?
Indigo Air Taxi to Launch in India by 2026 - Indian Startup News 206
Переглядів 39 тис.Місяць тому
Indigo Air Taxi to Launch in India by 2026 - Indian Startup News 206
Top 10 Chandigarh Startups
Переглядів 23 тис.2 місяці тому
Top 10 Chandigarh Startups
Ashneer Grover Launches His Latest Venture ZeroPe - Indian Startup News 205
Переглядів 125 тис.2 місяці тому
Ashneer Grover Launches His Latest Venture ZeroPe - Indian Startup News 205
How ElasticRun Is Transforming India's Rural Retail - Startup Case Study
Переглядів 398 тис.2 місяці тому
How ElasticRun Is Transforming India's Rural Retail - Startup Case Study
Lenskart Is Building a MEGA FACTORY in Bengaluru - Indian Startup News 204
Переглядів 43 тис.2 місяці тому
Lenskart Is Building a MEGA FACTORY in Bengaluru - Indian Startup News 204
Top 10 Indian AI Startups (2024)
Переглядів 37 тис.2 місяці тому
Top 10 Indian AI Startups (2024)
Paytm and PhonePe Testing Out Audio Advertisements Through Soundboxes - Indian Startup News 203
Переглядів 29 тис.2 місяці тому
Paytm and PhonePe Testing Out Audio Advertisements Through Soundboxes - Indian Startup News 203
How PhysicsWallah WON India's EdTech War - Startups Case Study
Переглядів 55 тис.2 місяці тому
How PhysicsWallah WON India's EdTech War - Startups Case Study
IIT Madras Partners With Starburst Accelerator - Indian Startup News 202
Переглядів 17 тис.2 місяці тому
IIT Madras Partners With Starburst Accelerator - Indian Startup News 202
Top 10 Goa Startups
Переглядів 26 тис.3 місяці тому
Top 10 Goa Startups
Pune-Based Robotics Startup Goes Viral - Indian Startup News 201
Переглядів 86 тис.3 місяці тому
Pune-Based Robotics Startup Goes Viral - Indian Startup News 201

КОМЕНТАРІ

  • @sidjoker123
    @sidjoker123 7 хвилин тому

    loss making 0f ~150 cr in ~2000cr revenue! definitely not efficient as claimed in Video. But its a great insight video of how start ups works!

  • @user-tw8cj8to2e
    @user-tw8cj8to2e 59 хвилин тому

    its a pathetic company to work for! as a software engineer!

  • @vitsboy46
    @vitsboy46 Годину тому

    Porter has been great so far. Unfortunately there are some bad apples so they need to be careful with people who are on boarded. Attention to uniform is fine but given the weather Porter needs to ensure their vehicles are well equipped

  • @madhuryagupta5706
    @madhuryagupta5706 Годину тому

    How idiot company founders and investors were to think they can have easy access to individual accounts 😂. Plus their buisness model was to collect data and then make trends about income and sell that data to big companies for product analysis

  • @akkiup
    @akkiup Годину тому

    Another great video brother. keep up the good work..

  • @vishnumate13
    @vishnumate13 Годину тому

    I've had a bad experience with PORTER. The third party movers on the platform asked for extra money. More than it was shown on the app😐. The customer care was of no use as well

  • @rohitk4544
    @rohitk4544 Годину тому

    Thank you for another great story... porter is a great business and is slowly taking over the logistics space in India... i wont be surprised if reliance invests in it soon and takes a big chunk of the company.

    • @kshitijpandey6514
      @kshitijpandey6514 Годину тому

      Hope they dont or else it would be the next Dunzo

  • @Avyay-y3h
    @Avyay-y3h Годину тому

    I always look up your videos for update! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve. Thank you Mrs Grace, imagine investing $1000 and receiving $5,300.

    • @MissDodge-oe6he
      @MissDodge-oe6he Годину тому

      You're correct!! I make a lot of money without relying on the government. Investing in stocks and digital currencies is beneficial at this moment.

    • @YoncastiCasanovar
      @YoncastiCasanovar Годину тому

      please educate me, I've come across this name before, Now i'm interested

    • @YolzarUmanid
      @YolzarUmanid Годину тому

      I'm from the Delhi, me and two other friends of mine immediately tried it , we testified , she is a performance of Wonder

    • @YongalieVomcus
      @YongalieVomcus Годину тому

      I started my investment with $15,000, a week later, we had grown to $55,000. This woman!! absolute genius

    • @marautasingh
      @marautasingh Годину тому

      when someone is straight forward and good at what she does best. People will always speak for them. For me I would say give Mrs Grace a try and you be happy you did

  • @formaltechz
    @formaltechz Годину тому

    Good evening bro i am balaji be tech student undergraduate 1st yr i am from hyd currently working with a start up company which makes hydrogen bike we have done a prototype and got funding for rd and making vechile we are almost near to it me and my team want funds and mentorship can help us or connect us to someone

    • @Abgz199
      @Abgz199 Годину тому

      I can contact you some

    • @vinaybhat7670
      @vinaybhat7670 52 хвилини тому

      All the best bro.... Hydrogen engines r far more practical than EVs...

    • @formaltechz
      @formaltechz 18 хвилин тому

      @@vinaybhat7670 thank u means a lot I am looking out for mentors to guide me nd a few incubation centres which can really look upto our idea

  • @abhishekarya5646
    @abhishekarya5646 Годину тому

    The new style of narration is a bit annoying… lullaby, made me sleep

    • @zenmode216
      @zenmode216 20 хвилин тому

      That’s what happens when you use AI and think everyone can tell a story!

  • @saur3x
    @saur3x 2 години тому

    Where to sell mushrooms?

  • @TheDilluville
    @TheDilluville 2 години тому

    Oh, if only there is a natural process that does this...hmm may be rain? This is highly inefficient and not worth it. Better option is providing tap water to everyone.

  • @viswajeetpraveen9192
    @viswajeetpraveen9192 2 години тому

    Ather is the best vehicle by an Indian automaker when it comes to quality.

  • @1507krazy
    @1507krazy 3 години тому

    Hey you're ignoring Australia. Australia is on the forefront of digital payment. Since 2011/12 everyone uses Visa Paywave/Paypass and later switched to GPay, Samsung Pay, Apple Pay but yes peer to peer payment was on Bank apps and they were instant thanks to NPP

  • @thinksc
    @thinksc 4 години тому

    HOLDING PAYTM FROM 388

  • @gautamjayasurya
    @gautamjayasurya 5 годин тому

    The reason for Ather's struggles comes down to the perception of scooters as a product in India and in the rest of Asia. While bikes are considered cool and have an aspirational value, scooters are always a utility product. So to sell a utility product through the value proportion of higher quality is possible but difficult. Maybe marketing efforts to communicate that value proportion in terms of long-term savings on maintenance, energy etc along with how it translates to better ride experiences might turn things around.

  • @shastri.._6206
    @shastri.._6206 5 годин тому

    Harharmaahadev❤❤❤

  • @YouTube.reportURL
    @YouTube.reportURL 6 годин тому

    Can you provide contant in हिंदी।।।

  • @Randomszzzz123
    @Randomszzzz123 6 годин тому

    flawed concept being explained by someone living in city. The Product distributor delivers the products in villages as well. Kirana stores are never shut in villages

  • @jaychandrakb3602
    @jaychandrakb3602 7 годин тому

    th biggest reason is high import duty of 100% ,, so the local producers form a cartel and keep hiking up prices every 2-3 months ,,making them costlier than anywhere else in d world ,, same with all products in India ,,there's a crying need for lower import duty as well as scrapping of 28% & 18% GST rates and moving all those products to 12% slab to increase demand and economic activity leading to even higher employment and higher revenue collection for the govt

  • @higlytoxicgirl8837
    @higlytoxicgirl8837 7 годин тому

    So will they build a wall to keep the poor & lower castes out?

  • @mdjavedakhtar421
    @mdjavedakhtar421 8 годин тому

    I'm from jharkhand koderma district 😊😊😊😊🎉🎉🎉❤❤❤❤

  • @pratikjiwane880
    @pratikjiwane880 8 годин тому

    So you mean, he didn't just see Uber and copy paste the same concept? Not sure who is living under a rock, him or you.

  • @mohdnazam6466
    @mohdnazam6466 8 годин тому

    Nice work knowledge

  • @user-ij8lh9bm8w
    @user-ij8lh9bm8w 8 годин тому

    Its just overpriced and not good in quality....requires some improvement

  • @kingmakerakash2835
    @kingmakerakash2835 9 годин тому

    Though living in jharkhand I didn't know any of these startups but from your video I get to know all ❤ . Thanx for the video

  • @gourav3492
    @gourav3492 9 годин тому

    Bas 19 20 ka he frak he 19 20 ka he to fark he climate me hai 😒

  • @uday4717
    @uday4717 10 годин тому

    I hope they don't use open pilot

  • @mrbuddhu
    @mrbuddhu 10 годин тому

    Do something similar for Bihar too.

  • @mucaryl
    @mucaryl 10 годин тому

    Jo jo abhi ev kharid rahe hai....unko maja to 5-6 saal baad ayega jab battery pr replace krna padega😅😅

  • @songroaster2756
    @songroaster2756 10 годин тому

    It will be shamful for india if they beat apple and samsung because they are not smartwatches

  • @samrockwell940
    @samrockwell940 11 годин тому

    I love mushroom but its somewhat hard to find in my locality

  • @youtube-admin920
    @youtube-admin920 12 годин тому

    one of their founders is my batchmate from IIM

  • @pulkitjain8135
    @pulkitjain8135 14 годин тому

    Less shelf life= More the quality = original ingredients

  •  14 годин тому

    You mor*on. This guy age is 26 and building app since 12 that mean building app last 14 years. What the heck app he was building and for what platform???? mor*on.

  • @warrior202
    @warrior202 15 годин тому

    Appreciate you brother ❤ love from jharkhand

  • @prashantpandya1073
    @prashantpandya1073 15 годин тому

    To me it seems that ONDC will take a very long time to fine tune itself and pick up. What UPI could achieve in months, ONDC will take years.

  • @prashantpandya1073
    @prashantpandya1073 15 годин тому

    If the ONDC is on air, how do I place orders as a buyer via ONDC?

  • @karthigeyan143
    @karthigeyan143 16 годин тому

    If i do, I will arrested by nia or ed and market as anti national, but that is not applicable to reliance

  • @mohammedimranismail7351
    @mohammedimranismail7351 17 годин тому

    What’s the tax % difference between citizens and foreigners

  • @mohdtameemahmed1601
    @mohdtameemahmed1601 19 годин тому

    Y not Mumbai, Chennai or kozikode,?? Y tha land of blood?

  • @007prince777
    @007prince777 19 годин тому

    Fake info

  • @fathimanazneen-rf3pm
    @fathimanazneen-rf3pm 20 годин тому

    License

  • @deepanshhh
    @deepanshhh 21 годину тому

    I tried and it's shit coffee. I couldn't drink one whole bottle

  • @prathamstechnical8505
    @prathamstechnical8505 21 годину тому

    I know a Danzo as well , he had 10s of sharingan on his arms

  • @2010sparsh
    @2010sparsh 21 годину тому

    15 yr old news

  • @_humanbeing_Homosapien.
    @_humanbeing_Homosapien. 21 годину тому

    It's not Jee-thu say Ji-thu.

  • @user-uw6di5sc5y
    @user-uw6di5sc5y 21 годину тому

    Reliance is pure evil. They've bought all the cable companies and are sabotaging them so that there is JIO fiber in every home.

  • @vikashchoudhary5119
    @vikashchoudhary5119 21 годину тому

    are they listed on stock Market?

  • @shridharar5732
    @shridharar5732 21 годину тому

    India gdp growth rate declining it was 9% now 6.5% 🤫