Delhivery, a logistics company, experienced a 10 percent decline in revenue during the March quarter, with earnings dropping to Rs 1,859 crore. Additionally, the company’s losses expanded to Rs 158 crore. Delhivery’s market capitalization stood at Rs 26,332.12 crore, while its pre-IPO valuation was Rs 35,283 crore. Founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, and Kapil Bharati, Barua has served as the company’s CEO since its inception. Here is the inspiring story of Sahil Barua.
Barua pursued his engineering degree from NIT in Karnataka before going on to complete his MBA at IIM Bangalore. The company’s humble beginnings can be traced back to an apartment in the national capital, where it initially operated as a courier service catering to e-commerce firms. As the demand for home deliveries surged, driven by shifting consumer behavior and the widespread availability of affordable internet, the company experienced remarkable growth. During that time, there were few companies providing delivery services for e-commerce platforms, presenting a lucrative opportunity that Barua and his friends recognized. Within two years of its establishment, the company expanded into the realms of fashion retailing and grocery delivery. They soon forged partnerships with Amazon Prime Now and Flipkart, solidifying their presence in the market.
Sahil graduated from IIM in 2008, achieving the remarkable feat of being an all-round Gold Medalist.
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In 2005, Sahil embarked on a four-month research internship at CALCE Labs, located at the University of Maryland. According to Startup Talky, in 2007, he joined Bengaluru-based company Stayglad. Furthermore, Sahil spent three months as a summer associate at Bain and Company, eventually transitioning to a full-time role with the company in 2008. Within a year, he attained the position of Senior Associate Consultant.
While employed at Bain and Company, Sahil Barua recognized the immense growth potential of online retail in India. Simultaneously, he observed that the logistics sector was fragmented and operating on outdated practices. Realizing the significant opportunities to address the logistical gaps within the industry, Sahil, along with Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati, embarked on founding their company. Starting from a humble flat as their initial base, they eventually established their first corporate office in Gurugram. At the outset, the company operated with only four delivery personnel, as reported by the website.
Initially, their delivery services focused on providing food from local restaurants, with their unique selling point being the speedy delivery of meals within half an hour. As their operations progressed, they ventured into the realm of e-commerce, witnessing remarkable growth within the first four years. Urban Touch became their first e-commerce client, prompting a strategic shift in their business model to primarily cater to e-commerce clients. Their achievements didn’t go unnoticed, as they reached a remarkable valuation of 1 billion dollars in 2019.
Their present unique selling proposition (USP) revolves around providing e-commerce companies with comprehensive shipment tracking capabilities. Additionally, they expanded their services to include warehousing solutions.