Delhivery, a logistics company, logged a revenue deficit of 10 percent. The company's revenue fell to Rs 1859 crore in the March quarter. Its losses also widened to Rs 158 crore. The company's market capitalization was Rs 26,332.12 croreThe company's pre-IPO valuation was Rs 35,283 crore. The company was founded by Sahil Barua, Mohit Tandon, Bhavesh Manglani, and Kapil Bharati, in 2011. Barua has been the CEO of the company since then. Here's his story.
Barua did engineering from NIT in Karnataka. He later did MBA from IIM Bangalore. The company was started in an apartment in the national capital. The company started as a courier service for e-commerce firms. The company grew leaps and bound as the demand for home deliveries shot up due to a change in buyer behaviour with the penetration of low cost internet. Not many companies were delivering for e-commerce companies at that time. Barua and his friends saw an opportunity. Two years after its launch, the company entered the realms of fashion retailing and groceries. They soon collaborated with Amazon Prime Now and Flipkart.
Sahil passed out from IIM in 2008. He was an all-round Gold Medalist.
In 2005, he went to the University of Maryland and worked there for four months as a Research Intern at CALCE Labs. In 2007, reported Startup Talky, he worked for a company called Stayglad, in Bengaluru. He also worked as a summer associate at Bain and Company for three months. In 2008, he worked for the company full-time. After a year, he became senior associate consultant.
Working in Bain and Company, Sahil Barua noticed that online retail was going to be big in India. He also found out that the logistics industry was fragmented and was primitive. He saw huge potential in the industry and set out to bridge the logistical gaps in the industry. He founded the company along with Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati. The first base was a flat. Their first corporate office was opened in Gurugram. They had only four delivery people, reported the website.
They first started delivering food for local restaurants. Their USP was providing food in half-an-hour. They expanded to e-commerce sites. The company grew leaps and bounds within the first four years of operations. Their first e-commerce client was Urban Touch. Later, they pivoted to serving the e-commerce clients. They achieved a 1 billion dollar valuation in 2019.
Their current USP is that e-commerce companies can completely track their shipments. They later entered into warehousing.
