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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
zhlédnutí: 20 773

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Komentáře

  • @ajithmathews6798
    @ajithmathews6798 Před 17 hodinami

    Carp

  • @AAZinvicto
    @AAZinvicto Před 17 hodinami

    Ye Electoral bonds, hum ko de de thakur!!

  • @shubhamdogra5845
    @shubhamdogra5845 Před 19 hodinami

    IZRO

  • @kabirdeswal8689
    @kabirdeswal8689 Před 19 hodinami

    They are thieves.100b my foot .. take care of delivery partners first

  • @gagankr4870
    @gagankr4870 Před 19 hodinami

    Ola is worst in service , they need to really work on service, i referred 5-6 people to purchase ola and i regret due to its worst service

  • @UdayRaj-vc1qo
    @UdayRaj-vc1qo Před 20 hodinami

    Ather is good. As it is indian i want it to success

  • @techsay6612
    @techsay6612 Před 22 hodinami

    You did not even talk about Apna Mart grocery company startup which is running very successfully in Jharkhand Ranchi

  • @unicorns778
    @unicorns778 Před 23 hodinami

    Reliance has grown so big it hardly see what happens down below. its store people hardky interested to sell par with vijay sales and kohinoor. Problem is reliance wants to do business rather disrupt mkt with small start with highly durable and ergonomic design products

  • @sureshkumar4140
    @sureshkumar4140 Před 23 hodinami

    lack of good spawn is the biggest drawback

  • @DavidLee-km3vv
    @DavidLee-km3vv Před dnem

    when china gdp was 3.5T, the growth rate was 15% per year😂😂😂

  • @阳团团
    @阳团团 Před dnem

    印度不是中国的竞争对手,中国的对手是美国。 中国和印度应该是互相帮助的伙伴,而不是互相伤害的敌人。 未来印度一定是一个很有影响力的国家

  • @LoknathChatterjee1

    Tysm for including our state in your content list.. it will help, motivate & grow our communities & startup goals amongst youngsters in the state.. Keep up ur good work.. Love from Dhanbad, Jharkhand ❤🙌

  • @mihirsampat7624
    @mihirsampat7624 Před dnem

    Waiting for an hour to get the car charged before being able to continue the journey is asking for too much patience from me.

  • @andyc9902
    @andyc9902 Před dnem

    Reduce tax mean jobs

  • @uday4717
    @uday4717 Před dnem

    When founders focus more on marketing then work, podcast

  • @hemantthorat3691
    @hemantthorat3691 Před dnem

    Modi is always true on his promises whenever it involves Gujarat.

  • @west11111111
    @west11111111 Před dnem

    I pity them. If it's in Chennai then the ruling party goons/rowdies will threaten them to sell the company to them.

  • @zaheerbeg4810
    @zaheerbeg4810 Před dnem

    3 to 4 days shut down for round trip of 60 KM and thousand of rupee business loss, Kuch jyada nahi ho gya😁

  • @user-vg8tn8cy8p
    @user-vg8tn8cy8p Před dnem

    As a business I think that's not good but I a gambling app that's good

  • @bhupeshsharma9872
    @bhupeshsharma9872 Před dnem

    What about car24 ?

  • @mondipa6556
    @mondipa6556 Před dnem

    Fake news.

  • @acejkp4u
    @acejkp4u Před dnem

    Ola jhola le k ghoom raha hai ....success by chance to promoters but not for investors

  • @shubh_chandrakar9334

    Kerala conversion ka rela

  • @vivekshinde8746
    @vivekshinde8746 Před dnem

    Ice forever. I hate batteries.

  • @IrfanKhan-dt7ck
    @IrfanKhan-dt7ck Před dnem

    But mudi eat mushroom

  • @nithinextreme
    @nithinextreme Před dnem

    Now why shayne was banned in the first place?

  • @JugMaj1940
    @JugMaj1940 Před dnem

    Please first start one small humble plant some where.Otherwise superpower will remain a dreamDreaming is also good,however it is of no beneficial.

  • @laxmansawant101
    @laxmansawant101 Před dnem

    Ather is more like an aspirational ev scooter in indian market right now. Coz indians wants better quality but they lack behind coz of marketing and the price war. Ola has been giving unbeleiveable offers/discounts to start with.. and it as a brand was very much present in the indian market so it helped them. I own and EV which has removable battery, unfortunately i cannot place a charger near my house or even bring the scooter near my house to charge from the household electric socket, the only biggest drawback i find in this company. Its a highly reliable brand. I have seen my friends buy and brag about it. A known person of my friend told me he covered close to 50k kms in around 2 years and the battery performance had dropped merely 5-10% and he has recovered his investment into the scooter he made already and incase needed he can purchase a new battery after about 2 years... but the time he would recover the cost for that battery too in advance... how great it is... i just want all the ev companies to do well but more so the ather to lead it.. and bring in more varieties of scooter and some day a removable battery one too for a customer like me cant get a fixed charger

  • @jccuchvjvj
    @jccuchvjvj Před dnem

    You know that Zero motorcycles that cost 3 times more have worse performance? And you just called the F99 expensive.

  • @ErenYeager-gp7um
    @ErenYeager-gp7um Před dnem

    Very much appreciated that he moved out of this shit , as a resident of assam, india i will say he indeed do very good job leaving 😂, Govt is busy dividing people and controversy 🤡🤡 aise bannege superpower 🤡

  • @vidyapatel9326
    @vidyapatel9326 Před dnem

    I hav order one product n it was of very bad quality n could not return as per their policy...not reliable don't buy

  • @DhanagrahamTash-fc4le

    Fun fact: according to rumours every indian industry ends in duopoly will space be the same!!

  • @suhassshankarappa
    @suhassshankarappa Před dnem

    We have worked with ThirdWave as their Digital and Creative agency in 2022. They have defaulted around 13 lakh payments since then… Even after multiple Follow-ups directly with the 3 founders - there was no response. When we said we would sue them - they shamelessly said - they would only pay 10% of defaulted value. More than just delay - the attitude of the founders was worse. Particularly Sushanth Goel - he even behaved badly with the accounts team who went to their office to Folloup on the payments. We thought we could recover some day… but with this info that they have only 1 year runway left - it’s worrying.. Would probably sue them this time and try to recover our payments before they go bankrupt. Anyone else who is going through this fraud from Third Wave - please get in touch..

  • @SumaiyaArts1505
    @SumaiyaArts1505 Před dnem

    Shark tank 🦈🐲 investment show 😵‍💫❌❌

  • @yuvrajkukreja9727
    @yuvrajkukreja9727 Před dnem

    hey i am also a programmer since i was 17 previously created a lot of projects but i am not aware of this business side that how to sell how to approach invertors to show prototype ! can any buddy help me with this ?

  • @VishalKr420
    @VishalKr420 Před dnem

    This is called Sabka saath apna aur apne mota bhai ka vikash

  • @priyankapatgiri2377

    It will be great

  • @narutoisaLEGEND.
    @narutoisaLEGEND. Před dnem

    Where is the app in Android?

  • @abhijeetsarangi2510

    At the moment its not worth the price.

  • @MrAshwin09
    @MrAshwin09 Před dnem

    The biggest hurdle according to me is not owning a home to charge the car one cannot buy ev from a rented house or if u have apartments then you won't get the benefit of solar charging. The issue of infrastructure,range and pricing will be solved in the coming years.

  • @abhisheksarkar8162

    I am from jamshedpur and I want make a online game like pubg and free fire

  • @vishalaaron7800
    @vishalaaron7800 Před dnem

    It’s an amazing scooter,,,, aluminium body frame,,,, no one can compete wth them,,,,

  • @sahilvyas1199
    @sahilvyas1199 Před dnem

    what is the source of your headlines? Like from where do you get the data about which startup raised how much

  • @user-ln5pi6zp2t
    @user-ln5pi6zp2t Před dnem

    In the Engineering circle we have a saying regarding national attitudes towards projects. ... US engineers announce what they want to do and do it. Russian engineers do it and then announce it. Chinese engineers do it , do not announce it but let others see it. Indian engineers announce it but do not do it.

  • @sagarsarkar4725
    @sagarsarkar4725 Před dnem

    Bhai neend aa rhi tumko sunke 😅

  • @merdonamerdona8095

    Texts

  • @uttarpradeshwaale1711

    Bahut hi jhaatu scooter hai

  • @syedasrar2072
    @syedasrar2072 Před dnem

    No to Halo 🙏

  • @syedasrar2072
    @syedasrar2072 Před dnem

    Ather pefectly fits Sam Altman's requirement for a product: '..a product that few people are in love with than many liking it..'

  • @yashdasgupta5973
    @yashdasgupta5973 Před 2 dny

    Indians should not tolerate any Chinese companies. If we do, we are not respecting the threat of China completely.