Listen to this episode of BwM as a *podcast* here: anchor.fm/bwmillionaires/episodes/The-100-Million-Round-That-Never-Happened-Just-Buy-Lives-Catastrophic-Failure-eqvjmu We also have a weekly startup *newsletter:* mailchi.mp/6853d5e7f5d0/bwm-newsletter-signup
Exactly the video I needed to enlighten me in many ways. Not an entrepreneur or start up. Just a student in a foreign country struggling to invest/earn money in buying/selling necessary/unnecessary things. Thanks guys!
Hello Caleb & BWM Team. JBL is not acronym for Just Buy Live but its been taken from initials of the American audio engineer and sound expert James Bullough Lansing, who is creator behind ALTEC LANSING & JBL. Please validate the facts & correct
Just Buy Live had a really good product market fit IMO and so I also disagree with caleb on the point that they didn't bring in the value. They failed to have a deeper understanding in the ideosyncracies of Indian retailers. This, coupled with the misfortune of demonetisation resulted in their death blow.
Loved the case study, learning the reasons for failures and talking about failed startups in social media is rare , plz continue these type of videos sir!!!
This is a seriously important business model analysis class for entrepreneurs. This is seriously good content guys . Do keep it up. It's really useful . This reminds me of the videos slidebean makes.
Hey caleb , would love to see the analysis on indian giants like phone pe , flipkart. Paytm etc. Whether or if they are purely indian or have huge investment from other countries , like china
Flipkart is the biggest player and the most badass company I've heard of Founded by Indian Entrepreneurs in Bangalore but registered itself in Singapore , Acquired by Walmart an American Giant and Expected to release it's IPO at the Wall Street , meanwhile Paytm's reality is some what the worst , it's the most greedy company out of all , and can do anything to earn , can show whatever ad it is without considering whether the ad is a propaganda or just an ad and it's effect on the people and yeah it's true it's funded by some Chinese Firms ( Ant Financial which owned 40% of the stakes in 2015 ) and yet calls it truly Indian as Micromax after Rebranding Chinese phones for years untill the real Chinese Company Entered the Indian Market and destroyed Pseudo Made In India Micromax PS . phonepe was too acquired by Flipkart , so technically not an Indian company anymore
Almost everyone/every company knows the potential of the Indian Market , Some Earn it with respect or a disrupting product but some with tricks and tragedy , playing with Indian patriotic sentiments ... That's all businesses and some are best at it
Haha well, personally Aditya I would much rather grow slowly and steadily rather than exploding from Day 1 like Just Buy Live did 🙂 we would rather be underrated than overrated. Our channel and content has only been able to evolve the way that it has because we've had time to see what works and what doesn't work, and I hope to uncover many more learnings between now and when we hit 1M subscribers. -Caleb
Wow Satyam, thank you so much! I'm so happy to hear that. It was definitely an experiment for us, but I'm so happy to see that it's adding so much value for our audience members, even if the views aren't as much as our weekly news videos. This is the only video we've made about JBL (in fact I don't think we've ever even mentioned them in any previous video before this one) but you can find a couple of articles on why JBL failed online - these were the ones I used while researching for the script of this video: VCCircle: www.techcircle.in/2018/03/27/hp-enterprise-is-looking-beyond-the-cloud-era-global-strategy-head-vishal-lall The Ken (paywall): the-ken.com/story/just-buy-live-collapses/ Bizom: blog.bizom.in/2018/04/02/failed-companies-have-this-in-common-and-what-you-can-do-to-avoid-failure/ Other than these, I had to piece together what exactly happened from news articles that were written _before_ JBL collapsed, which outlined some of the struggles the company faced as they were growing. Hope this helps! -Caleb
@@backstagewithmillionaires this is brilliant! Very comprehensive, I will go through them. And would really appreciate if we can see more of such educational approach towards more entrepreneurial success ans failures :)
As a small shopkeeper I can assure you that they did not do any market research at all or if they did, it was just crap. Mostly it's fixed weekly delivery from a distributor and delayed delivery is rare especially in a city like Delhi. Its not even an issue that needs to be solved.
Interesting observation Puneet! As I am not a shopkeeper and don't know any myself, I was relying mainly on Just Buy Live interviews (from when the company was in business and was doing PR to increase their exposure) and a number of different startup/business-related news websites where articles about the rise and fall of Just Buy Live were published. From all of my research, I surmised (as I'm sure the co-founders of JBL did) that distributors weren't very reliable, but I'm thankful that you left this comment and corrected my perspective on things, as someone who is actually on the ground in this industry. -Caleb
Udaan does the exact same thing with addition of having wholesaler’s upload their products too. Udaan have their granary wholesale for wholesale fmcg and food grains needs with addition of existing wholesaler’s for additional products. With this they serve all local Kirana’s with better product portfolio.
Hi Rahul, it's always scary to start! Even I was scared to start this TH-cam channel. But fear of the unknown is _not_ a good reason to not start. Fear _kills_ dreams, and you shouldn't let it hold you back. Worst case, you fail and learn a lot from the experience (seriously - failure is one of the best things you can experience in life as long as you're strong enough to not let it break you). Best case, you succeed and have a fulfilling life as an entrepreneur that you can be proud of 😀 either way, it's a win-win. -Caleb
Worst thing about these type of startup I.e jbl they don't include local businesses who already doing well they start it own they should get benefits for that
Expansion with out profits is suicidal - Vivek Bindra Lessons learned: Expansion without profits is self destruction Prefer organic growth Add value to the product.
My understanding from this is that, you can leverage the power of internet to remove middle men, not replace middle-men. Amazon replaces the distribution middle-man by linking producers to consumers. To add to your video, Kunal shah is NOT a great example for this either. I love his talks, but he is trying to do the exact mistake that JustBuyLive is doing. He's offering a internet platform that replaces internet platforms to pay credit card bills. If we had lived in a time where credit card bills couldn't be paid online, it would have been a disruption - however that's not the case. Look at the unit economics of cred as well, they lost 727 INR to earn 1 INR in 2020. The only difference between Kunal Shah and Sahil is that Kunal Shah spends a lot on PR and will exit the company wisely. Take a look at Freecharge, Snapdeal acquired FreeCharge from Kunal for 400$ Million, and then sold at a LOSS of $60 million.
Hey Bharadwaj, those are some interesting points. But I have a different opinion in terms of Kunal Shah's approach. Personally, I think he is doing a great job. While you might see CRED as a platform to pay credit card bills, that's not what Kunal is trying to disrupt exactly. Instead, like he has said he is building a community of trusted individuals, remember everyone who is a member of CRED has to have a credit score of atleast 750. Getting people on his platform by providing goodies for paying credit card bills on time, is just the way to getting people inside the door and building the community. You might see CRED move into different directions once they have enough people and enough data about their transaction behaviour. These insights could be used to create a bunch of services and get other players like insurance companies, banks and other companies on their platform. And that is where I believe they might get their money from. But that's just my view of how things look. But you are right about one thing, he is spending a lot of money and that is not something people like you or me can do when building a business. He is able to do this because he has built trust - his team, investors and customers trust him. And FreeCharge's acquisition is a different story. We can talk about that later. :) I hope you see my point but would love to see what are your thoughts on this? -Varun
@@backstagewithmillionaires I agree with your points, I've read the same points across LinkedIn. But I'm a firm believer of the lean startup principles. I personally have huge respect and trust in what kunal tries to do, but intentions might not always result in fruitful outcomes. Sure, if things go well and you have the cream layer on your platform you can make more money. This is similar to Nithin Kamath's ideology. But there's a set of assumptions that might break terribly if things are in downrun. I guess time will tell and we'll find out, won't we?
If they had started with 1 city rather than IPL ad, they could have easily understood the market and avoided these costly mistakes. They were overconfident and started expanding before researching.
Wow! Really informative. There is one more company who is similar to JBL with whom I have worked in the past (ShopKirana) maybe you might be interested to learn more about them. They work on the same B2B Model to source products for small time retailers. I feel in JBL's case, they were just a bit ahead of their time and lacked proper inspiration but in returns their failure surely would have inspired loads of entrepreneurs in the direction of "What Not To-Do".
Hi Bharath, yes, it seems based on what I'm reading here in the comments that there were a number of different startups that followed the same model or a similar model to JBL's that _did_ succeed in the long-term. ShopKirana, Udaan, Munafa, and more. Every startup makes mistakes, and I feel that _if_ JBL had been able to raise that $100 million, they might have been able to learn from those mistakes and come out victorious. Another thing, which is in line with what you said about them being ahead of their time, is that many startups/entrepreneurs were able to look at JBL and learn from their mistakes and avoid the pitfalls that slowed them down and caused them to lose money. Being first can be advantageous when it comes to starting up, but it can also be really dangerous, because you're driving blind with no reference point to figure out if you're on the right track or not. It's crazy how much the success of a startup depends on timing 😂 you can't be too late, you can't be too early, you have to be _right on time_ or else you will probably fail. -Caleb
Thank you so much Nithin! 😁 Your contribution to what we're doing here is greatly appreciated 🙏🏻 we'll definitely continue to make videos like this one. -Caleb
Man everytime I see one of these videos I'm reminded of Case Study classes for my management degree.. you guys are awesome.. mix that with delta 4 model by Mr. Kunal Shah and I'm like you don't need to go to college for information, interaction however is different. But then again it depends on how we share it... I'll suggest you guys to have a discord server and reddit too...
Very informative!! I just wanted to know one thing though, so you mentioned in the video that they were the e-distributor did it mean that they stored the inventory or the model was just a marketplace model where they shipped the goods?
@@backstagewithmillionaires Can you do some interviews or videos on defense related start-ups too? Def exports are booming, govt is on import blacklisting spree, that means this industry will blow up soon. Some suggestions- SSS defense, Ideaforge
Wow South Ka Chandan, thank you so much! The financial support means a lot to us 😊 and I'm so happy that you enjoyed the video enough to feel compelled to applaud it. It gives me and the rest of the team motivation to continue making these kinds of videos. -Caleb
They came and went like a flash in the pan - and I think also perhaps because they were into B2B, and that too they have a relatively new approach, they didn't get as much hype and recognition from the media as other consumer-facing startups did at that time. -Caleb
Haha yes! Not exactly the same as the Flipkart style of video, but we were a bit worried about using JBL-related footage, given that we are talking about their failure and didn't want to take any risks with copyright. -Caleb
These guys had setup their office in the same premises where my office was located back then . I remember seeing this Bharat Balachandran and other top management guys riding their fancy and expensive cars like they don't give a shit to anyone and often smoking in the parking lot.
Hai. Can you make a video for young entrepreneurs how to raise the funds and the process of that. It will be helpful to many people. Please consider my request 😀
I guess that when we go slowly steadily we tend to make a concrete business setup getting too many users without having the capability to handle a few was great mistake they had a lot of funds but bashing in is not done Immature actions like rushing into anything and using money without calculation Was The reason
Hi Talha, I don't see why not... Unless someone else has already taken it. But Just Buy Live is dead, so they won't have any problems with you using their name. -Caleb
What they shouldif done is given them wallet balance instead of loan. Emoney or wallet was not that familiar back than, but I think this concept will work wonders now with some more research. I will love to work in this concept. Hybrid model doesn't work bcz when the retailer will do the transaction by themselves then only they will get used to the app. Another eg. Of Hybrid failure Paytm mall
Hi Alex, the $5M investment was a personal investment from one of the co-founders. The $20M investment was a separate, external Series A funding round from Alpha Capital. -Caleb
That's why I don't trust these unprofitable startups will turn anything meaningful returns remember USSR model was to throw a tone of money on an idea and hope it worked economically
Listen to this episode of BwM as a *podcast* here: anchor.fm/bwmillionaires/episodes/The-100-Million-Round-That-Never-Happened-Just-Buy-Lives-Catastrophic-Failure-eqvjmu
We also have a weekly startup *newsletter:* mailchi.mp/6853d5e7f5d0/bwm-newsletter-signup
OK Indian animation ko bhi cover karo why we are not able to make good content like japan
Exactly the video I needed to enlighten me in many ways. Not an entrepreneur or start up. Just a student in a foreign country struggling to invest/earn money in buying/selling necessary/unnecessary things. Thanks guys!
Hello Caleb & BWM Team. JBL is not acronym for Just Buy Live but its been taken from initials of the American audio engineer and sound expert James Bullough Lansing, who is creator behind ALTEC LANSING & JBL. Please validate the facts & correct
I'm an aspiring entrepreneur and your channel has given me lots of insights about the same. Keep up the good work guys!!
So happy to hear that Hardik 😁 that's the #1 goal of our channel, to educate people about entrepreneurship and starting up! -Caleb
This video is excellent to understand why funding means so little and why product market fit is what actually matters.
True.
Just Buy Live had a really good product market fit IMO and so I also disagree with caleb on the point that they didn't bring in the value. They failed to have a deeper understanding in the ideosyncracies of Indian retailers. This, coupled with the misfortune of demonetisation resulted in their death blow.
@@zoldyck_uwu if you got time join me on insta @iam.animy
More case studies please!!
Definitely man these are
too good
Loved the case study, learning the reasons for failures and talking about failed startups in social media is rare , plz continue these type of videos sir!!!
We certainly will Tech God! Stay tuned for future Startup Failure and Startup Success Story videos! -Caleb
@@backstagewithmillionaires sir my name's Naveen and am from Bangalore can we plz connect on LinkedIn I want to have a little chat with you
This is a seriously important business model analysis class for entrepreneurs. This is seriously good content guys . Do keep it up. It's really useful . This reminds me of the videos slidebean makes.
Hey caleb , would love to see the analysis on indian giants like phone pe , flipkart. Paytm etc. Whether or if they are purely indian or have huge investment from other countries , like china
Flipkart is the biggest player and the most badass company I've heard of
Founded by Indian Entrepreneurs in Bangalore but registered itself in Singapore , Acquired by Walmart an American Giant and Expected to release it's IPO at the Wall Street , meanwhile Paytm's reality is some what the worst , it's the most greedy company out of all , and can do anything to earn , can show whatever ad it is without considering whether the ad is a propaganda or just an ad and it's effect on the people and yeah it's true it's funded by some Chinese Firms ( Ant Financial which owned 40% of the stakes in 2015 ) and yet calls it truly Indian as Micromax after Rebranding Chinese phones for years untill the real Chinese Company Entered the Indian Market and destroyed Pseudo Made In India Micromax
PS . phonepe was too acquired by Flipkart , so technically not an Indian company anymore
Almost everyone/every company knows the potential of the Indian Market , Some Earn it with respect or a disrupting product but some with tricks and tragedy , playing with Indian patriotic sentiments ...
That's all businesses and some are best at it
@@adityaajit2120 thx bro u got high level knowledge
@@adityaajit2120 very true👍
The best thing about u is that u analyse the reasons....the difference lies there. 💪🏻💪🏻
So glad you got value out of the video Soham 🙂 and that you watched until the end! -Caleb
This channal name should be " Front stage MBA" 😂😄
Why you guys are so underrated
Haha well, personally Aditya I would much rather grow slowly and steadily rather than exploding from Day 1 like Just Buy Live did 🙂 we would rather be underrated than overrated. Our channel and content has only been able to evolve the way that it has because we've had time to see what works and what doesn't work, and I hope to uncover many more learnings between now and when we hit 1M subscribers. -Caleb
Right , he also explained in the video...
@@backstagewithmillionaires can you analysis who will win 2024 election? 😅😅😅
Lol 😂 we try not to get into politics here Abhay, sorry. No matter what you say, you'll make enemies talking about anything political. -Caleb
@@backstagewithmillionaires yup and pls cover more news related to startup failure so we can learn so many things 😀
Sir we want case study of startup like oyo zomato swiggy how they become successful how they grow that much
Awesome video guys. The animations made it better to understand ♥️🔥
Thank you so much Manikandan! Really happy to hear that you enjoyed the animations, lots of effort was put into those! -Caleb
@@backstagewithmillionaires keep up the good work✌️and expecting more such videos.
this is literally your best video! covered more than any MBA class in top Business schools! is there a case study on this?
Wow Satyam, thank you so much! I'm so happy to hear that. It was definitely an experiment for us, but I'm so happy to see that it's adding so much value for our audience members, even if the views aren't as much as our weekly news videos. This is the only video we've made about JBL (in fact I don't think we've ever even mentioned them in any previous video before this one) but you can find a couple of articles on why JBL failed online - these were the ones I used while researching for the script of this video:
VCCircle: www.techcircle.in/2018/03/27/hp-enterprise-is-looking-beyond-the-cloud-era-global-strategy-head-vishal-lall
The Ken (paywall): the-ken.com/story/just-buy-live-collapses/
Bizom: blog.bizom.in/2018/04/02/failed-companies-have-this-in-common-and-what-you-can-do-to-avoid-failure/
Other than these, I had to piece together what exactly happened from news articles that were written _before_ JBL collapsed, which outlined some of the struggles the company faced as they were growing. Hope this helps! -Caleb
@@backstagewithmillionaires this is brilliant! Very comprehensive, I will go through them. And would really appreciate if we can see more of such educational approach towards more entrepreneurial success ans failures :)
Please do an updated list of all unicorn startup including chargebee, meesho, digit
As a small shopkeeper I can assure you that they did not do any market research at all or if they did, it was just crap. Mostly it's fixed weekly delivery from a distributor and delayed delivery is rare especially in a city like Delhi. Its not even an issue that needs to be solved.
Interesting observation Puneet! As I am not a shopkeeper and don't know any myself, I was relying mainly on Just Buy Live interviews (from when the company was in business and was doing PR to increase their exposure) and a number of different startup/business-related news websites where articles about the rise and fall of Just Buy Live were published. From all of my research, I surmised (as I'm sure the co-founders of JBL did) that distributors weren't very reliable, but I'm thankful that you left this comment and corrected my perspective on things, as someone who is actually on the ground in this industry. -Caleb
Make more of these case studies. They are extremely interesting and informative. I would watch these for an hour.
Big fan of your work 👍
Thank you Ashish 🙂 -Caleb
Udaan does the exact same thing with addition of having wholesaler’s upload their products too. Udaan have their granary wholesale for wholesale fmcg and food grains needs with addition of existing wholesaler’s for additional products. With this they serve all local Kirana’s with better product portfolio.
After watching this I am pretty sure that my idea is absolutely ready to launch.......But Don't know why I am scared.
Any suggestions caleb?
Hi Rahul, it's always scary to start! Even I was scared to start this TH-cam channel. But fear of the unknown is _not_ a good reason to not start. Fear _kills_ dreams, and you shouldn't let it hold you back. Worst case, you fail and learn a lot from the experience (seriously - failure is one of the best things you can experience in life as long as you're strong enough to not let it break you). Best case, you succeed and have a fulfilling life as an entrepreneur that you can be proud of 😀 either way, it's a win-win. -Caleb
@@backstagewithmillionairesThanks for you words, hoping to be featured on this channel..... either as a failure or as a winner😌
Can u please give any "idea" about your idea?
It's thrilling and I am just curious......btw....BEST OF LUCK!
@@r7rahuls your ideas will fail 100% of the time if u don't put them out there :)
@@KavateJayesh well said bro..... that's why I'm going to start after my college semester exams
If ain’t broke, don’t fix it.
Your videos are very informative for sure.. they are also very refreshing.
Thank you for the kind words CrazyZOOMBOMBER! 🙂 -Caleb
Worst thing about these type of startup I.e jbl they don't include local businesses who already doing well they start it own they should get benefits for that
This is a great analysis! Loved it. Please keep making such videos on failures of different startups! - Arpit
Your videos are really informative
Failure stories are as important as success stories.
Good work team BWM👍
Expansion with out profits is suicidal - Vivek Bindra
Lessons learned:
Expansion without profits is self destruction
Prefer organic growth
Add value to the product.
Anyone any other learning's please do share it.
Your case studies are the best
Great explanation and please upload more of this educational/analysis videos
My understanding from this is that, you can leverage the power of internet to remove middle men, not replace middle-men. Amazon replaces the distribution middle-man by linking producers to consumers. To add to your video, Kunal shah is NOT a great example for this either. I love his talks, but he is trying to do the exact mistake that JustBuyLive is doing. He's offering a internet platform that replaces internet platforms to pay credit card bills. If we had lived in a time where credit card bills couldn't be paid online, it would have been a disruption - however that's not the case. Look at the unit economics of cred as well, they lost 727 INR to earn 1 INR in 2020. The only difference between Kunal Shah and Sahil is that Kunal Shah spends a lot on PR and will exit the company wisely. Take a look at Freecharge, Snapdeal acquired FreeCharge from Kunal for 400$ Million, and then sold at a LOSS of $60 million.
Hey Bharadwaj, those are some interesting points. But I have a different opinion in terms of Kunal Shah's approach.
Personally, I think he is doing a great job. While you might see CRED as a platform to pay credit card bills, that's not what Kunal is trying to disrupt exactly. Instead, like he has said he is building a community of trusted individuals, remember everyone who is a member of CRED has to have a credit score of atleast 750. Getting people on his platform by providing goodies for paying credit card bills on time, is just the way to getting people inside the door and building the community. You might see CRED move into different directions once they have enough people and enough data about their transaction behaviour. These insights could be used to create a bunch of services and get other players like insurance companies, banks and other companies on their platform. And that is where I believe they might get their money from. But that's just my view of how things look.
But you are right about one thing, he is spending a lot of money and that is not something people like you or me can do when building a business. He is able to do this because he has built trust - his team, investors and customers trust him.
And FreeCharge's acquisition is a different story. We can talk about that later. :)
I hope you see my point but would love to see what are your thoughts on this?
-Varun
@@backstagewithmillionaires I agree with your points, I've read the same points across LinkedIn. But I'm a firm believer of the lean startup principles. I personally have huge respect and trust in what kunal tries to do, but intentions might not always result in fruitful outcomes. Sure, if things go well and you have the cream layer on your platform you can make more money. This is similar to Nithin Kamath's ideology. But there's a set of assumptions that might break terribly if things are in downrun. I guess time will tell and we'll find out, won't we?
Damn this was a disaster.
More like this, please.
More on the way Buffer Account 🙂 -Caleb
I really like the thumbnail and those cool little animations in this video . They look like kurzgesat style animation
This analysis is awesome @backstagewithmillionaires
Thanks Nishant, glad you enjoyed it! 🙂 -Caleb
If they had started with 1 city rather than IPL ad, they could have easily understood the market and avoided these costly mistakes. They were overconfident and started expanding before researching.
6:40 disruption is not for all domains! Outcome of JustBuy Live.
Interesting story and great analysis! You are really putting in the work Caleb! Looking foreward for more stories. : )
Thank you so much Jay, for acknowledging our efforts 🙂 more stories on the way. -Caleb
Wow! Really informative. There is one more company who is similar to JBL with whom I have worked in the past (ShopKirana) maybe you might be interested to learn more about them. They work on the same B2B Model to source products for small time retailers.
I feel in JBL's case, they were just a bit ahead of their time and lacked proper inspiration but in returns their failure surely would have inspired loads of entrepreneurs in the direction of "What Not To-Do".
Hi Bharath, yes, it seems based on what I'm reading here in the comments that there were a number of different startups that followed the same model or a similar model to JBL's that _did_ succeed in the long-term. ShopKirana, Udaan, Munafa, and more. Every startup makes mistakes, and I feel that _if_ JBL had been able to raise that $100 million, they might have been able to learn from those mistakes and come out victorious.
Another thing, which is in line with what you said about them being ahead of their time, is that many startups/entrepreneurs were able to look at JBL and learn from their mistakes and avoid the pitfalls that slowed them down and caused them to lose money. Being first can be advantageous when it comes to starting up, but it can also be really dangerous, because you're driving blind with no reference point to figure out if you're on the right track or not. It's crazy how much the success of a startup depends on timing 😂 you can't be too late, you can't be too early, you have to be _right on time_ or else you will probably fail. -Caleb
@@backstagewithmillionaires No wonder they say "It's a Slippery Slope towards success" 😁😁
Awesome work
Thank you Soham! -Caleb
A case study on a healthtech start up, especially in the telemedicine sector would be great! Please and thank you 😊
this is quality content, kudos
Thank you so much Varun! -Caleb
Informative👍
Thank you Aryan! -Caleb
Udaan is an another Startup with the same business model
May be JBL was implemented before Udaan. but could not survive.
This analysis is Gold for the aspiring entrepreneurs 🙏
Super video! I applauded for ₹100.00 👏👏
Thank you so much Nithin! 😁 Your contribution to what we're doing here is greatly appreciated 🙏🏻 we'll definitely continue to make videos like this one. -Caleb
Man everytime I see one of these videos I'm reminded of Case Study classes for my management degree.. you guys are awesome.. mix that with delta 4 model by Mr. Kunal Shah and I'm like you don't need to go to college for information, interaction however is different. But then again it depends on how we share it... I'll suggest you guys to have a discord server and reddit too...
Great 👏 content man hats off I really appreciate your efforts keep it up. Thanks
thank you that was very helpful, As myself was think of taking huge risk without propper planning.
I have listened your courses in Udemy.... Nice to see here with great videos
Udemy...? We haven't made a course there, Pons. Can you share the link? -Caleb
Please make videos of peers who succeeded the peer who failed. So we can get more insight into the market's psychology.
And thank you GREAT WORK.
Adding your point of view about case study is a unique way. Nice.
Very informative!! I just wanted to know one thing though, so you mentioned in the video that they were the e-distributor did it mean that they stored the inventory or the model was just a marketplace model where they shipped the goods?
True business insights... Again great research.... you guys are just great...!!!
Why don’t they just partner up with the distributors? That way they don’t have to spend a lot of money, right?
Excellent ground work guys...
Thank you P Deepak! -Caleb
Very informative study case. Thank you
No problem Kunsang! Glad you enjoyed it 🙂 -Caleb
Nicely done story
Chunks of lessons here. Thanks
Our pleasure Batman's Pajama, glad you enjoyed it! -Caleb
@@backstagewithmillionaires Can you do some interviews or videos on defense related start-ups too? Def exports are booming, govt is on import blacklisting spree, that means this industry will blow up soon. Some suggestions- SSS defense, Ideaforge
Thank you
Super video! I applauded for ₹40.00 👏
Wow South Ka Chandan, thank you so much! The financial support means a lot to us 😊 and I'm so happy that you enjoyed the video enough to feel compelled to applaud it. It gives me and the rest of the team motivation to continue making these kinds of videos. -Caleb
please do more of these
This is by far the best case study I have seen!
Wow Anubhav, that's really high praise 😁 thank you so much! -Caleb
Nice work 👌🏻👌🏻👌🏻
Thank you Kaustubh! -Caleb
love the analysis that you guys do. Thanks!
Thank you Raghav 🙂 -Caleb
Hello, would you please make how udaan succeeded in the same segment?
u re a good story teller
I have been following startups for a long time, had no idea such a company had existed.
They came and went like a flash in the pan - and I think also perhaps because they were into B2B, and that too they have a relatively new approach, they didn't get as much hype and recognition from the media as other consumer-facing startups did at that time. -Caleb
Its a sad story, but thanks for the insight, it will definitely help a lot of entrepreneurs.
I love your content
Thanks!
Sure thing Prasad! Thank you for the comment! -Caleb
Great analysis
Mini documentaries are back!!
Haha yes! Not exactly the same as the Flipkart style of video, but we were a bit worried about using JBL-related footage, given that we are talking about their failure and didn't want to take any risks with copyright. -Caleb
@@backstagewithmillionaires I was thinking about that too
Wipro is doing same 👍 I mean using the mediator for sales
Great content ❤️🔥🙏
It was great value learning.
Thanks Saurabh, I'm really happy to hear that! -Caleb
Margin 2 to 5 %? Distributors ask for upto 30%!
These guys had setup their office in the same premises where my office was located back then . I remember seeing this Bharat Balachandran and other top management guys riding their fancy and expensive cars like they don't give a shit to anyone and often smoking in the parking lot.
Hai. Can you make a video for young entrepreneurs how to raise the funds and the process of that. It will be helpful to many people. Please consider my request 😀
Great learning
Great video, keep it up👍
Thank you Atharv! -Caleb
The biggest mistake just buy live made was it scaled too soon
And too haphazardly as well! -Caleb
I guess that when we go slowly steadily we tend to make a concrete business setup getting too many users without having the capability to handle a few was great mistake they had a lot of funds but bashing in is not done
Immature actions like rushing into anything and using money without calculation Was The reason
Agreed Immortal, they were over-confident and in too big of a rush. -Caleb
That's why having a realistic plan is necessary
I always thought of working in such a b2b model ill do it may be later since busy with my new venture.
Can we start any startup in other countries with this name? Just buy?
Hi Talha, I don't see why not... Unless someone else has already taken it. But Just Buy Live is dead, so they won't have any problems with you using their name. -Caleb
33 crores for 1 app and 1 website. Dear God, that uncle got hella scammed 🤣
I think one phrase would suffice the fall, product market fit.
It was never there and they never tried getting it anyway.
Check on black buck ( zynga transports) there is not much movement of their service..
Still don't know how CRED works ?
7:18 they tried to reinvent the wheel!
Wow i miss first this time
Yeah, but at least you're third! 🥉😁 -Caleb
Bring Kunal shah🙏🙏
Commenting for better reach.
They should have started with one city .. and added others slowly
What they shouldif done is given them wallet balance instead of loan.
Emoney or wallet was not that familiar back than, but I think this concept will work wonders now with some more research.
I will love to work in this concept.
Hybrid model doesn't work bcz when the retailer will do the transaction by themselves then only they will get used to the app.
Another eg. Of Hybrid failure Paytm mall
Can you do a case study on Blackbuck and Udaan ?
@bwm
lack of market research
You could have compared Just buy live with udaan in this video itself.
After GST close app
You said that in 2016 they raised 5 millions and later on you mentioned $ 20 millions ?
Hi Alex, the $5M investment was a personal investment from one of the co-founders. The $20M investment was a separate, external Series A funding round from Alpha Capital. -Caleb
Start a series of success and unsuccessful startup casestudy ..per week...
Osm presentation
That's why I don't trust these unprofitable startups will turn anything meaningful returns remember USSR model was to throw a tone of money on an idea and hope it worked economically