Business Models

Myntra Business Model - GrowthX

Netflix Business Model - GrowthX Deep Dive

Netflix's business model began in 1997, offering DVD rentals by mail with no late fees. It grew into a global streaming giant through subscriptions and personalized recommendations. In India, Netflix launched in 2016 and now has over 10-12 million subscribers.

Zerodha Business Model - GrowthX

KuKu FM Business Model - GrowthX Deep Dive

Kuku FM's business model capitalises on India's vernacular market, having 2.68M paid subscribers and ₹48.8 Cr revenue by FY23. With 70% of users from Tier 2+ cities, a conversion rate of 11%, and an ARPU of ₹600, they’ve optimised growth with a CAC of just ₹300. Understand their unique approach to audio content.

WeWork Business Model - GrowthX Deep Dive

WeWork’s business model is about leasing large office spaces, redesigning them, and subleasing at a premium. While WeWork's global story faltered, WeWork India saw success with ₹1,300 crore in revenue, 81% occupancy, and 70K+ members across 54+ locations by FY23.

Cultfit Business Model - GrowthX Deep Dive

Cult Fit, India’s first fitness unicorn, generated ₹700 crore in FY23, but it started small in 2015. Founded by Deepak Poduval and Rishabh Telang with a "Machine-Free Fitness" approach, Cult gained 200 customers in six months. In 2016, Mukesh Bansal and Ankit Nagori acquired it for ₹20 Crores, merging it with Cure Fit’s tech-driven platform to build the fitness giant we know today.

Ather Energy Business Model - GrowthX Deep Dive

Ather Energy's business model revolutionises India’s electric vehicle landscape, starting with the launch of the Ather S340 in 2016. Founded by IIT Madras graduates, their focus on smart technology and strategic partnerships, including a ₹205 crore investment from Hero MotoCorp, led to the Ather 450’s success. By 2024, Ather boasts an 11.5% market share and over ₹1,700 crore in revenue.

IKEA Business Model - GrowthX Deep Dive

IKEA made its much-anticipated entry into India in 2018, with its first store opening in Hyderabad. Known globally for its affordable, flat-pack, DIY furniture and innovative home solutions, IKEA's strategy in India has been to adapt to local market dynamics while staying true to its global values of affordability, functionality, and sustainability.

Spotify Business Model - GrowthX Deep Dive

With a catalog of 80 million+ tracks, and personalized recommendations based on user preferences, Spotify provides a diverse range of music and audio content to users, tailored for any mood or occasion.

Lenskart Business Model - GrowthX Deep Dive

In 2010, Peeyush Bansal left his job at Microsoft to launch Lenskart, revolutionizing India’s eyewear market. Along with co-founders Amit Chaudhary and Sumeet Kapahi, Bansal spotted a gap in the unorganized sector. Today, Lenskart leads the market, outpacing Titan Eye+ with a ₹3788 crore revenue in FY23, over 2000 stores, and cutting-edge manufacturing.

OYO Business Model - GrowthX Deep Dive

What started as a humble budget hotel aggregator quickly expanded into one of the world’s largest hospitality chains, leveraging technology to provide affordable, standardized accommodations at scale.

OfBusiness Business Model - GrowthX Deep Dive

In 2015, Ashish Mohapatra left venture capital to transform India’s MSME sector by founding OfBusiness. Despite early challenges, including 73 investor rejections, OfBusiness grew into a billion-dollar enterprise, delivering over ₹19,000 crore in revenue. Today, it empowers over 1M SMEs through innovative commerce and financing solutions, revolutionizing the B2B landscape.

CRED Business Model - GrowthX Deep Dive

CRED's business model transforms traditional credit management by rewarding users for timely bill payments. Founded in 2018 by Kunal Shah, the platform offers exclusive benefits for responsible financial behaviour. With ₹1,484 crore in FY23 revenue and 13 million monthly active users, CRED has evolved from a fintech app into a leading lifestyle brand, fostering a high-trust community and unique experiences.

Zoho Business Model - GrowthX Deep Dive

SaaS Business Model - GrowthX Deep Dive

Starting a SaaS business is like setting up a successful food truck—you need the right recipe, the right location, and a clear understanding of your customers’ tastes. Too often, founders dive into creating their product without first validating the need for it, leading to common pitfalls. Here’s how to avoid these mistakes and build a successful SaaS company.

Ola Electric Business Model - GrowthX Deep Dive

Ola Electric’s vertically integrated business model spans R&D, manufacturing, supply chain, sales, service, and charging facilities, ensuring control over quality and efficiency across all operations, driving them to a 35% market share in three years, selling 320K+ units and generating ∼₹5,009 crores in revenue

Paytm Business Model - GrowthX Deep Dive

Today, Paytm is synonymous with digital payments in India, offering everything from simple mobile recharges to personal loans—all at the tap of a button. With over ~8 million monthly transacting users and 4 lakh+ merchant partners, Paytm has mastered user acquisition and retention, with a wide scope of diverse services to upsell and cross-sell.

MakeMyTrip Business Model - GrowthX Deep Dive

MakeMyTrip’s business model is all about connecting your travel dreams with reality. They started out serving NRIs but now dominate the Indian online travel agency with a 30% share in air travel market and have a presence in 150 countries. By offering personalized travel options and a seamless booking experience, they’ve managed to serve over 75 million customers and pull in $783 million in revenue.

Airbnb Business Model - GrowthX Deep Dive

In an era dominated by traditional hotels, a simple yet powerful idea of room-sharing sparked a revolution in how we experience travel. Welcome to the story of Airbnb—a platform that started in 2007 as a modest solution to an accommodation crisis and has since grown into a $100 billion global giant, transforming the travel industry along the way.

Swiggy Business Model & Growth Strategy

Amidst the bustling streets of Bangalore, Sriharsha Majety and Nandan Reddy founded Swiggy, setting out to revolutionise India's food delivery landscape, starting with just 6 delivery executives and 25 restaurants. Fast forward to now, Swiggy is valued at $15.1 billion. Dive in for some amazing insights on Swiggy’s innovative business model.

Zomato Business Model & Growth Strategy

Zomato's business model centers around reliability and service quality, which serve as its primary competitive advantages. Unlike businesses that rely on unsustainable discounts and lower prices, Zomato has invested significantly in both technical and financial resources to ensure its service remains credible and consistent.

Types of Business Models (with examples)

Creating a successful business requires understanding and choosing the right business model. A business model outlines how a company creates, delivers, and captures value. It's the blueprint for how a business operates, generates revenue, and sustains itself.

Starbucks Business Model & Growth Strategy

Starbucks, the iconic global coffeehouse chain, has made a name for itself in India's bustling cities. Known for its premium coffee, cozy ambiance, and global appeal, Starbucks has carved out a niche in a traditionally tea-loving market. Whether you're a business enthusiast, a Starbucks fan, or simply curious, our analysis will offer insights into how Starbucks is succeeding in India.

BookMyShow Business Model & Growth Strategy

Bookmyshow, owned and operated by Bigtree Entertainment Pvt Ltd is an online ticketing platform for movies, live events, workshops and much more. The firm is present in over 650+ cities and towns and provides entertainment experiences to 30 million customers.

ixigo Business Model & Growth Strategy

ixigo is an Indian online travel agency (OTA) founded by two IIT-Kanpur alumnus Aloke Bajpai and Rajnish Kumar in 2007. It is one of the leading travel agencies with a 46.15% market share in the OTA rail booking and a customer favorite for train and bus bookings..

Nykaa Business Model & Growth Strategy

Nykaa is an Indian E-Commerce platform company under FSN E-Commerce Ventures Ltd. Oh, and it also happens to be the first Indian woman-led unicorn startup; impressive right? Discover the business model & growth strategy in this blog and uncover mind-blowing insights!

Zepto Business Model

Zepto is a quick commerce grocery startup that has grown to $100 Million ARR+ in a matter of less than 2 years. In this blog, we breakdown the business model & growth strategy that has allowed them to scale their business.