How this web development startup became a ڈالر 1 million startup during the epidemic.
However, 26-year-old Shaswat Sorop explains. Your story That the rapid evolution of technology and market fluctuations have made it difficult for companies to keep up. This is where a startup based in Bangalore comes instep in
The end-to-end commerce focused tech development startup is working with over 500 companies, including, Rajasthan Royals, , , , Melio, MTR Foods, Quirksmith, Sri Sri Tattva, and 100% growth in the last year.
While studying engineering at the New Horizon College of Engineering, Bangalore, Shashwat decided to take part in entrepreneurship with Prabhat Prasad and Soro K, founders of college friends. He started an e-commerce venture that enabled people to rent books online and increased it to about 150-200 orders a day.
“But, as luck would have it, the business had some dental problems with scalability and other unfavorable factors, which led us to make the tough decision to close it within a year,” Shaswat said. Are Co-founder and CEO, Marmito.
After college, when Shashot took on some e-commerce consulting roles, Soro joined retail intelligence company Mobisi and began building his corporate career. In 2017, they reconnected and decided to start something again.
He used a total of Rs 14,000, attached to a designer and rented two seats in a co-working space in Bangalore. “At the time, no one was getting paid, we didn’t have a lead pipeline, we had zero experience in the service industry, and there was no explanation on the road ahead. Although we were sure of one thing – we made some noise. We wanted to make a difference in the world of e-commerce, ”says Shashot.
So, they started Marmeto as a web development company, which now helps e-commerce brands build technology, mostly on Shopify.
“We believe in making business easier. We build websites, apps and enterprise solutions on Shopify,” says Soro, 26, co-founder. He also says that the company no longer associates itself as a web development company, but as a commerce enabler.
In the early days of the startup, it offered many services – from website design to website development, social media content creation services, and “whatever got in our way,” says Shaswat. Within six months, all three saw a big difference in supply and demand.
On the one hand, the big e-commerce players offering website building services like Shopify, Wix, Woo Commerce were entering the Indian market, on the other hand, the Indian market was dealing with its own issues like functionality, logistics, price points, And response times The e-commerce market has been growing since 2015, but according to the founders of Marmito, integration with online payments and apps means slow growth and slow market access.
Ultimately, all three decided to focus primarily on website development on Shopify. Prabhat, 25, says, “We focused on developing a unique solution on Shopify and becoming an end-to-end Shopify development agency.
“We noticed that clients do not fully understand the target demographics of the website, and those who do do not understand the intricacies of the technology behind the features of the website. Furthermore, e-commerce in every project. There was a lack of clear understanding of the user experience and the aesthetic focus was much more than the functional performance of the website, “he adds.
Prabhat explains that when the team decided to focus on Shopify two years ago, it developed several solutions in the platform’s mother tongue “LIQUID” in less than a year. “We mastered a coding language that many people were unaware of. It put us on the map of the e-commerce industry in India and helped us land on the first big landmarks like Civil Flower, Quitro, and Headphone Zone. Prabhat adds.
Market and competition
The Indian e-commerce or e-tail market grew by 25% to 38 38 billion during the 2020-21 fiscal year, despite the retail market shrinking by 5% due to the effects of the corona virus, according to a report by Ben & Co. According to Flipkart. Given that the COVID-19 epidemic is still raging, with some sense of stability, the report also states that the e-retail market is expected to grow by approximately 25-30% year-on-year to مالی 120–140 billion by FY26. Is expected to grow to
For Marmito, this is an opportunity to meet unprecedented demand. “We have a huge market for e-commerce and enough to sustain it,” says Soro.
The startup competes with any web development company that helps build an e-commerce business, but Shaswat says Marmito stands out in each of its projects for setting additional milestones in competitive pricing.
“We have created a unique position for ourselves in the market by offering something better, not a traditional offer,” says Soro. According to him, most web development agencies offer AMC (at the lowest cost) as an annual fee for website maintenance, which Marmeto does not charge its clients because the startup claims it could crash. Do not create websites.
“We understand Shopify’s structure so well that we develop all kinds of tech solutions around it. We work with logistics partners such as Delivery, Shiprocket, and DHL. Payment partners such as CRED, Paypal, Razorpay, and PayU ؛ and VAS (value-added service) partners such as Qwikcilver and Ticket Xpress to create enterprise Shopify solutions and apps, “says Soro. He says Marmito covers the entire tech capability range of e-commerce services.
But the founders claim that what really sets Marmito apart is his speed or reaction time. Prabhat adds, “From catering to feedback on project delivery, we offer timelines that are unparalleled in the industry at the moment.”
Increase revenue and business
Marmeto has two revenue models – a one-time project fee and a long-term retainer model.
“Both of these meet two different stages of development. The former is usually taken advantage of by SMEs who want to rewamp a new website or web site or through such established businesses.” The latter is used by enterprise businesses or funded startups that do a great deal of marketing work, resulting in constant updates and changes to websites. Yes, “says Shaswat.
He added that over the past two years, it has built its expertise on Shopify and expanded its operations, claiming that Marmeto has increased its revenue 2x and crossed the نشان 1 million mark in FY21. has taken. He says the company has worked with many brands, from healthcare, beauty apparel, to adtec to food and beverages, and has some global clients, such as Mordecai Florist and Shane.
The CEO added that the company’s biggest achievement was to scale the team and go 100% remote overnight, while successfully working tirelessly on more than 50 websites during the three-month lockdown in 2020 and on a priority basis. Serving clients. The founders are proud that the company’s growth over the past four years has been entirely organic and largely based on reference.
Funding and projects
The company started with a seed money of Rs. Shaswat says Marmito plans to aggressively expand its work in and around e-commerce over the next 12-18 months. He added that the company is now pursuing 150-200% growth for this financial year.
While the company wants to focus on its existing service, it is also considering other e-commerce services, such as stepping into a loyalty program for its clients, which will further reduce turnaround time.
“Finally, we look forward to launching a Marmeto Accelerator platform that will allow us to serve and serve some curated Bootstrap startups and smaller organizations while offering the Marmeto community experience for e-commerce.” Says Shaswat.