Faasos

Faasos is an Indian "food on demand" company that was incorporated in 2011.

Faasos operates in the 17 largest cities in India and takes customer orders via its mobile app. It is the only vertically integrated food business in India and operates all three three stages of a "food on demand" business: ordering, distribution and order fulfillment.

Fassos receives 10,000 orders a day across India and has recorded a growth rate of 20-25 per cent month-on-month.[1]

History

Fassos was founded by Jaydeep Barman and Kallol Banerjee and incorporated in 2011. Barman, an MBA from INSEAD was previously an associate principal at McKinsey & Company in London and Banerjee, an MBA from INSEAD, previously worked for Bosche in Singapore.

The company operates in 15 cities: New Delhi, Mumbai, Gurgaon, Pune, Bangalore, Ahmedabad, Baroda, Chennai, Indore, Hyderabad, Noida and Jaipur. The company has scaled up operations to 9 cities, with over 125 fulfillment centers[2] in three years.

Funding

Faasos raised its first round of funding of US$5 million (Rs. 30 Cr.) from Sequoia capital in November 2011,[3] and a second round of funding of US$20 million in February 2015 from Lightbox Ventures and Sequoia Capital.[4]

Products and services

Faasos launched its mobile app in 2014. It has been downloaded 800,000 times and processes 200,000 orders through its mobile app (as of September 2015).[5]

Faasos is also active on social media. It is one of the world's very few restaurants to introduce tweet-2-order with #faasosnow in 2011.[6]

Faasos Elite

Faasos launched a loyalty program, Faasos Elite, a one of its kind initiative to rewards it loyal customers. Customers part of this club receive various benefits, ranging from prioritised delivery, free desserts with their order, an option to place an order now and Pay Later- within 15 days, a birthday gift, a cashback with their every order, a chance to be part of Faasos FoodDiaries, an event where it launches its upcoming products and more.[7]

Read more at:

http://economictimes.indiatimes.com/articleshow/51137786.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

References

  1. ↑ "Financial Express".
  2. ↑ "Business Standard".
  3. ↑ "Economic Times".
  4. ↑ "Economic Times".
  5. ↑ "NDTV".
  6. ↑ "I am Wire".
  7. ↑ "Faasos introduces loyalty programme for regular customers - The Economic Times". The Economic Times. Retrieved 2016-04-18.

Further reading

External links

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