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Understanding the Business: Instamojo

Name: Understanding the Business: Instamojo
Uploaded: 2022-05-24T10:58:20.000+00:00
Description: In this video, I discuss the business model of Instamojo, a company that is a leader in the industry of online personal assistant services. I will also cover the different features and functions of Instamojo's business model.

In this video, I discuss the business model of Instamojo, a company that is a leader in the industry of online personal assistant services. I will also cover the different features and functions of Instamojo's business model.

7 Views

By Siddhant Kaushik Co-founder @ Tutorate India

Understanding the Business: Instamojo

7 Views

By Siddhant Kaushik Co-founder @ Tutorate India

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Transcript

Do you know? They are India’s Top Rated Payment Gateway because they have tried to reduce the gap between buyers and sellers, helping the industries escalate to new levels. The company is headquartered in Bangalore and has over 1 million users. They are none other than Instamojo. Hi, I am <speaker name> and in this video, we are going to encode the business model of a fintech brand called Instamojo. So, let’s encode their business model together:) “My idea was to enable people to collect money from their friends and families by creating a short link and sharing it with them,” Sampad recalls. “It was simple and a lot of interesting things could be done on top of it,” he adds. In September 2012, Sampad Swain, along with Akash Gehani, Aditya Sengupta, and Harshad Sharma co-founded Instamojo, a payment platform for MSMEs to accept all kinds of payments and transfers. The word Instamojo, meaning “instant magic”, was derived from Sampad's first project Instartup.com (which also has an “insta” in it). His love for Harry Potter was the source of magic or mojo here. The main motivation behind the concept was to make the payment gateway more simple and readily accessible to the small business owners of the nation. It essentially provides a link through which the payment takes place. The application has proved helpful to freelancers, individuals, and small business owners to a large extent. Instamojo has simplifies the payment process so much simple as the sellers now do not have to go through a series of tedious steps to get their pay. The payment made by the buyer will get reflected in the sellers’ account within 3 days, from which around 2% will be taken for the company and a meager amount as tax. Today, Instamojo’s valuation is 35 million dollars. And they have also raised 8.4 million dollars in 8 rounds of funding. That’s all about Instamojo friends! I hope you enjoyed encoding Instamojo’s business model with me as much as I did. So, meet me in the next video where we will encode RazorPay’s business model. See you there, bye:)

Understanding the Business: Instamojo

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