Udaan-Building an Alternative Distribution Network for Small & Medium Businesses
| Case Code: OPER149 Case Length: 10 Pages Period: 2016-2021 Pub Date: 2021 Teaching Note: Available |
Price: Rs.250 Organization : Udaan Industry :Transport & Logistics Countries : India Themes: Digital Marketplace,Logistics & Supply Chain,Disruption,Unicorns |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
udaan.com (Udaan), a Business-to-Business (B2B) e-commerce platform run by Bengaluru-based Hiveloop Technology Private Limited, became the fastest Indian start-up to reach the unicorn status after it raised US$225 million (INR16.2 billion) in a Series C funding round in September 2018. The platform was established in 2016 and reached the unicorn status in a record time of just 2 years since it was able to attract multiple rounds of funding at very short intervals. In November 2016, it raised US$10 million (INR720 million) in a Series A funding round and in February 2018, the company raised US$50 million (INR3.6 billion) in a Series B funding round . Udaan continued to attract investments even after achieving unicorn status. In October 2019, it raised US$585 million in a Series D funding round and in January 2021, it raised US$280 million. (See Exhibit I for details of all funding rounds). As of January 2021, the company was valued at US$3.1 billion (INR216 billion)..
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