India’s Techies are Leaving IT Firms in Hordes — Here’s Why

 

Original content: Business Upside India

A B2B trading marketplace named Udaan was mainly developed to empower manufacturers, traders, wholesalers and retailers by using a source of technology. Udaan is a distinct initiative for medium and small businesses of India and it is run by a company named Hiveloop Technology Pvt Ltd. The main idea of the project Udaan is to link and connect among the manufacturers, retailers and wholesalers through a single platform by using a mobile application. The Udaan application allows users to get access to real intuition into active and operating trends and other various premium B2B trade functions.

Udaan is the B2B trading marketplace especially developed to empower manufacturers, traders, wholesalers and retailers by using a source of technology. Udaan is a distinct initiative for medium and small businesses in India. A startup venture needs to be valued as a dollar one billion or maybe more than that if the private startup venture wants to be a part of the Unicorn Club. In the year 2016 Udaan was established by one-time employees of Flipkart whose names are Sujeet Kumar, Vaibhav Gupta and Amod Malviya the trio have combined efforts to launch Udaan. Udaan has come up intending to create a full-stack platform for mid-sized and small enterprises and businesses that will provide a combination of lending, logistics and marketplace. According to the reports in India, there are more than 50 million medium and small enterprises and the total number of transactions that occur in these segments are more than 600 billion. The company Udaan claimed that their revenue is around Rs 65 crores in the fiscal year 2018. Whereas the losses were around Rs 59.5 crores and total expenses were Rs 66 crores.

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