WOW! Momo: An Entrepreneurial Success Story
| Case Code: LDEN170 Case Length: 6 Pages Period: 2015- 2020 Pub Date: 2021 Teaching Note: Available |
Price: Rs.150 Organization : WOW! Momo Industry :Food & Beverage Countries : India Themes: Entrepreneurship, Entrepreneurial Strategy, Corporate Entrepreneurship, Entrepreneurship |
Abstract Case Intro 1 Case Intro 2 Excerpts
Excerpts
Wow! Momo is born
In August 2008, Daryani and Homagai started their business with a funding of Rs. 30,000 – borrowed from Daryani’s father. Homagai convinced his family to get him permission to use the ground floor (garage) of a relative’s three-storey housein Kolkata.In this 200-square foot room, both friends started their kitchen with one table, two part-time chefs, and a full-time helper..
Expansion
In order to expand its business, in March 2015, WOW! Momo raised Rs. 100million from Indian Angel Network (IAN) at a valuation of Rs. 1 billion. It entered the market of Delhi, India, in the year 2016 .andgot a positive response from customers. WOW! Momo started targeting young customers i.e. students and working professionals.
Overcoming Challenges
Over a period of 11 years (2008-2019), WOW! Momo achieved significant growth, but the restrictions in force during the lockdown imposed to curb the spread of the Covid-19 virus (from March 2020 onward) severely impeded the growth of the company. Narrating the strategy of the company during the Covid-19 crisis, Daryani, co-founder and CEO..
Road Ahead
To handle a crisis like the Covid-19 pandemic, WOW! Momo joined hands with ITC , Nestlé , P&G , and Emami for promotion of products and with Swiggy for distribution. To maintain product quality and service, ittied up with hatcheries..
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