Story Of boAt : Explained

 

Boat is a Indian based Audio devices and related accessories Brand that was  established in 2016. Boat is a Delhi based startup that was started in 2016 by two people namely Amar Gupta and Sameer Mehta.

 HOW IT ALL STARTED 

boAt Founder-Sameer Mesha & Aman Gupta

Initially Boat was manufacturing and selling cables initially but today it has a very huge range of products in its portfolio 

Boat aim was to bring Affordable , Durable , fashionable audio products and accessories 

One of the founder Aman Gupta was an Chartered Accountant and he already had experience in the domain of Electronics trade . He completed his ca and worked in Citi bank for few years 

In 2010 Gupta applied of Mba at ISB and worked in KPMG for 6 months and due to his interest in audio products he applied in JBL audio and signed for two years 

Gupta Managed to sell boat products through offline retail stores such as Croma etc and his experience of working in JBL added up to it

Intially boat has very much competition it struggled during its early 2 years 

Boat was started with a capital of around 3 million invested by its founders 

In 2018 it received funding from Kanwaljit Singh of Fireside ventures amounted to 60 million 

soon the sales of boat products were increasing from time to time Boats revenue in FY2018 was 108 crore from 27 crore in FY2017. It had multiple times growth 

Boat was making profits continuously for the past 5 years 

PRESENT :

In 2019 Boat was leading up with a market share of 27% in ear wear category

In 2020 Boat clocked a revenue of 500crore  which grew up to 108% from 239.44 crores in FY2019 

Today Boat is one of the leading brands in the market claiming to sell about 10000 units per day which counts up to 4 million a year 

Today boat adds a new customer every few minutes

Boat claims to have more than 20 million customers by now

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--Team The Frenzied