Cocoberry: A Startup's Global Ambitions

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Cocoberry was started in February 2009 and its first store opened in Delhi. It was the first premium frozen yogurt chain in India. It was started with seed funding from the young and aspiring entrepreneur Bhalla. Bhalla belonged to the new breed of entrepreneurs India had produced after the economic reforms of the early 1990s. He was a commerce graduate from Delhi University and did an executive program on launching new ventures at Harvard Business School. Bhalla had nurtured his entrepreneurial ambitions from a very young age. He was all of seven when he started a small book stall at his house and started renting out old comics when his family refused to give him money to buy new ones.

Children from his neighborhood flocked to Bhalla's home to rent his comic book collection and soon, the young entrepreneur had made enough profits to build a large collection of new comics. During a summer break in school, Bhalla took up a small job for three months in a bakery. There, he learned the rudiments of the retail business and customer service. Commenting on his entrepreneurial ambitions, Bhalla said, "Business runs in my genes. From the very start, I began to groom myself for that one big day of my life when I would turn an entrepreneur, and a successful one."

After his graduation, Bhalla embarked upon his first major entrepreneurial venture with a sum of Rs.¹10,000 borrowed from his mother. He started with a corporate gifting company which was successful. The remarkable success of his first venture encouraged Bhalla to look out for new opportunities. He turned into a risk-loving serial entrepreneur building businesses and selling them for a profit. Bhalla jumped onto the outsourcing bandwagon and started a Knowledge Processing Outsourcing (KPO) unit called Horizon BPO Pvt. Ltd.² (Horizon) which offered back-end services to healthcare companies in the US...

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1] Rs.= Indian Rupees. As of mid-2011, US$1 was approximately equal to Rs.44.50.
2] Horizon BPO Pvt. Ltd., headquartered in Gurgaon, Haryana, India, was a KPO providing its services to the health care industry. It was established in the year 1983.

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