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Session On Zero To IPO By VSS Mani, MD & CEO, Justdial At India Internet Day, 2014

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India Internet Day, 2014 is an initiate taken by TiE Delhi – NCR with an objective of looking a wider horizon of internet industry and how it impacts the internet business in the country.

In India Internet Day 2014, one very interesting and informative session was taken by Mr. VSS Mani, MD & CEO, Justdial on Zero to IPO. He is an ex-employee of the Yellow Pages which is called as United Database India (UDI) and while working there, he developed this idea of providing information on phones. Although, this idea got implemented in the year 1996, when Mumbai Kandivali exchange owned the number 088 888 88 888 and since he knew the importance of keeping an easy number forced him to grab this opportunity and successfully convinced the GM to allot the number to him. As per the figures, Justdial gets started with the capital of 50,000 INR; however, currently it is fetching a total revenue of 271.61 cores with 7, 457 employees (as of 31 March, 2013) and having a database of 91 lakh listings (as of 31 March, 2013) and 1,95,100 campaigns (as of 31st December, 2012).

Justdial succeeded in getting the approval from the Security Exchange Board of India (SEBI) for its proposed Initial Public Offering (IPO) on 20th March, 2013 and raised Rs 327 Crores from its existing private equity investor, Sequoi Capital and SAP Ventures.

Mr. VSS Mani discussed the journey of Justdial in the following manner:

  • Initial customers of Justdial are considered to be an angel customers as they were the one who believed in them.
  • In 1997, Justdial got registered and got 1.5 million $ from an internet company.
  • In 2002, Justdial was not going for marketing through internet.
  • On 2004 Sep, Google went public; hence it was not a very popular era for online business in India.
  • Improved monetization helped in growing the level of the company.
  • A first PE investor came in 2006.
  • The few challenges faced by the company were that, their data can go on world wide web if they went online. So Justdial decided to go for content focused approach.
  • OOPs Moments were when ‘Pay for Call’ was taken by the company which actually lowered the growth. However, Mr. Mani took a stand and changed the model and focused on generated content rather than just going for rich content.
  • After a change in model one revolution came when one App by Justdial was launched, where rating and review could be done by the clients.
  • Went public on social media and in 2013 Jusdial got listed.
  • Master App, Search Plus was launched which helped in bringing the revolution in the industry and gave a name to Justdial.

Therefore, to conclude, as per Mr. Mani, “It is not about getting more and more partners but a group of people who become your support in all aspects”.

  • Digital-Marketing

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