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Friday, March 31, 2023

Route Mobile’s turnover crossed Rs 1K crore during Covid-19

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Route Mobile clocked in turnover of more than Rs.1000 crore in 2020. The cloud communication platform provider was able to achieve this when many other businesses were suffering from Covid-19. 

A provider of cloud communication platform was able to clock in more than Rs. 1,000 crore in turnover, while many other businesses suffered last year due to the Covid-19 pandemic. Rajdip Gupta, who founded Route Mobile in 2004, has just talked about starting from scratch and says that the company managed to clock in revenue of Rs. 1,400 crore in 2020.

Rajdip, who now serves as CEO of Route Mobile, also said that the company was able to register Rs 380 crore revenue during the second quarter of 2021.

Rajdip says that investments and  funding aren’t must-haves for a new business to be successful. A startup actually needs clear fundamentals among other things to succeed.

He spoke about his company’s success journey, saying that Route Mobile realised early what kind of potential the cloud communication platform has.

Rajdip says Route Mobile always wanted to change how communication is done, like how he can add more value to his enterprise clients and help them boost engagement with their end user.

It provides a cloud communication platform to enterprise customers that they can deploy and consolidate with the business systems and applications currently used by them.

The platform continued to add new features to help consumers communicate simply after initially starting as a pure-play SMS.

Route Mobile was listed at NSE with a 105%t growth on the first day of the listing in September 2020. The Rs 600-crore IPO of the company had been oversubscribed 74 times.

Rajdip spoke about the IPO, saying that his company realised listing was the best way to secure funds and generate value for all who were engaged in the business.

He said Route Mobile has just released its WhatsApp and RCS API. Rajdip says that if the company’s revenues are seen, he thinks it is demonstrating growth of over 30% year-on-year basis from the past five years.

Rajdip concluded by saying, “We always wanted to develop a business model that can be sustained, where the consumer will be with the business for an extended  time-period. Hence, Route Mobile began to focus more on operator base, core enterprise base, and OTT players. So, once we are significantly consolidated within the business ecosystem, it’s very hard for anyone to replace.”

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