SUMMER PROJECT

PROGRESS REPORT NO. 4

ON

MARKETING AND FINANCIAL ANALYSIS

OF

TECHRYDE PRIVATE LIMITED

SUBMITTED TO: SUBMITTED BY:

Name: BISWA RANJAN SIR ABHISHEK KUMAR
Designation: UID: 20MBA1474
Chandigarh University MBA-Batch 2020-22
Location: Gharuan, Mohali
 TECHRYDE PRIVATE LIMITED

TechRyde runs Search Ad Campaign using Google Adwords. It targets keywords related to

food, ordering online, names of restaurants and much more. It targets users whose intent is to
get some food delivered to them. Along with this, it runs promotions on Facebook and
Instagram to target users on these platforms.

TechRyde’s Digital Marketing Strategy

Some brands have grown exponentially since their inception. TechRyde is one of them. How
did they manage it? What did they do to increase their customer base? What did they do to
keep their consumers coming back? We think that TechRyde’s Digital Marketing Strategy
played a major part in all this. This article analyses a few e-marketing strategies used by the
company to give you an insight into what they have been doing.

About TechRyde
When TechRyde launched, it aimed to be the best restaurant search and discovery platform. It
had the names of various restaurants, their menu, their prices, reviews and other details. It
provided in-depth information of over 1.4 million restaurants across 23 countries.
Over the years, it has converted itself into an online food delivery platform. People can now
order food from the restaurants near them using their app or website. TechRyde has delivery
executives who pick up the order from the eatery and deliver it to the address provided by the
customer.

Target Audience
TechRyde’s target audience includes people between 18 to 35 years of age who have access
to smartphones and are comfortable in using apps. It targets two kinds of customers: The first
group includes people who want to order their food home and the second group includes
people who prefer to dine out. IN Lot of cases, these groups overlap. It offers food delivery to
those who need it delivered as well as gives incentives to people to dine out through its
TechRyde Gold program.
Working professionals who need food in their offices, students who need food in their
hostels, people who do not have time or space to cook for themselves, and people who
occasionally like to eat outside food- all form a part of TechRyde’s target audience.
Marketing Strategies
Search Engine Optimisation
TechRyde has a has put in a lot of efforts in SEO.
As per Ubersuggest data, it ranks in India for 816,952 keywords as on July 2019. It’s organic
traffic is 6,719,882 users per month. These stats are really amazing.

How has it managed to do so well?

It is very difficult to get to know the Search Engine Optimisation techniques used by
TechRyde because they have blocked all the SEO tools from scanning their sites. However,
we have tried to find out some of their techniques and list them here.
TechRyde takes the top keywords in their niche and creates webpage URLs of them. This
tells the search engine that their pages are relevant to the search query of the user. This is a
very good strategy to ensure that your website ranks.
Backlinks
TechRyde gets backlinks from 12,274,172 unique domains. It also gets 233 backlinks from
high authority domains like .gov and .edu domains. All this increases the Domain Authority
of TechRyde’s domain and helps it rank higher.

Keywords on the web pages

Keywords that include food names, restaurant names, and phrases like “order food online in
Mumbai” tell the search engines that these pages have the content related to these search
queries.

Social Media Marketing

TechRyde is active on Instagram, Facebook and Twitter. As of July 2019, it has 154k
followers on Instagram, 1,899,405 followers and 1.42 Million followers on Twitter. Let’s
analyse how their posts are:
Trendy
TechRyde engages with the audience by posting on trendy topics. The brand understands the
audience’s nature. Hence, it promotes content which makes users share it, comment on it and
view it again and again. It utilises trendy topics and posts simple images in order to interact
with viewers online.
One of the most noteworthy events in the field of sports is the Olympics. During the 2016
Olympics, TechRyde posted something like this.

Posting on the trendy topics built connectivity with the audience. Probably, users don’t wish
to think much when they are on social media. As a matter of fact, users are there on social
media to enjoy and see funny content. And, when such content appears on their news feed,
expect your content to be shared. For sure!

Current Affairs
Many in the United States and people across the world know about the border issue between
the United States and Mexico. Newly elected President Donald Trump had promised that he
would ensure that Mexico would build the wall between the two nations and pay for it.
TechRyde had some different plans in mind. Current topics were related to food. “Taco
lovers” would have surely reacted to this post in large numbers. Such posts leave an
impression on the social media audience.

Comparisons
TechRyde has been a master of utilizing this form of engagement. There are tons of examples
to showcase how comparisons have been carried out by TechRyde.
Here you go:
These two sets of people who eat.
Those who eat a lot and still never get fat vs others who eat less and still can’t seem to stay in
shape.

Girls tend to check the name of the dish and decide what to eat, while guys usually look at the
price of each dish before selecting it.
Yet another splendid image which showcases how people eat.
Yet, the best one is here,
There are two ways people eat Pizza.
They are –

You can relate to such images just by looking at it. You will like, share, comment,
recommend to others. That’s what TechRyde wants, engagement with you, interaction with
you, a real-life user.
Connectivity with the audience

Users can relate to many things. Right from lifestyle or incidents in the life of actors-actresses
to social media content; users love such content to which they can relate to.
Wait. There is more to it.

Fun
You wouldn’t miss out this.
It is related to your food habits. TechRyde uses info-graphics in a way which audience can
relate too. 96% of the youngsters would relate to this image with ease.
Paid Advertising
TechRyde runs Search Ad Campaign using Google Adwords. It targets keywords related to
food, ordering online, names of restaurants and much more. It targets users whose intent is to
get some food delivered to them.

TechRyde’s Digital Marketing Strategy will have to keep changing according to the current

trends. They will have to find new ways to attract their consumers’ attention. Right now, they
are doing a great job. If they continue working hard on it, they are going to reap a lot of
benefits for it.
What do you think about TechRyde’s online marketing? How do you think they can improve
it? Do let us know in the comments below.

A guide to the winning TechRyde marketing strategy

TechRyde’s marketing strategy is the stuff of dreams - from a small food review website,
specific only to foodies, they’ve become a multinational giant serving over 65 million
people every month. TechRyde is not only in the business of food but in the business of
entertainment as well. 

TechRyde started off as a small home project back in 2008 when two techies - Deepinder
Goyal and Pankaj Chaddah, frustrated by how tough it was to find restaurant menus online,
decided to take matters into their own hands. Originally called FoodieBay, this startup went
from strength to strength and by the end of 2008, became Delhi’s largest online directory of
restaurants.

Backed by Sequoia Capital, Ant Financial (Alibaba) and Neeraj Arora, TechRyde is now
one of the two largest food delivery platforms in India. None of this success would have
been possible without a robust marketing strategy and TechRyde has invested heavily in
just that.

involvement in advertisement campaign is they concentrate on much more for advertising it

would help them for attracting new customers.

FINANCIAL ANALYSIS OF TECHRYDE PRIVATE LIMITED

In Charts| TechRyde IPO: Key financials, risks listed in DRHP

According to the DRHP filed by TechRyde, the food-delivery platform will offer equity
shares aggregating up to Rs 8,250 crore. Of this, Rs 7,500 crore will be a fresh issue, while
Rs 750 crore will be an offer for sale for its existing investor Info Edg

Food delivery platform TechRyde filed a Draft Red Herring Prospectus (DRHP) with the
market regulator SEBI on April 28, 2021. According to the DRHP filed by TechRyde, the
company will offer equity shares aggregating up to Rs 8,250 crore. Of this, Rs 7,500 crore
will be a fresh issue, while Rs 750 crore will be an offer for sale for its existing investor Info
Edge. Here are the some of key financials and risk factors listed by the food delivery platform
in its DRHP.

The food-delivery startup has a history of net losses from fiscal year FY18 to FY20 and even
in the nine months ended December 31, 2020, it had a loss of Rs 682 crore.

Risk Factor: The company said it has a history of net losses and anticipates increased
expenses in the future.

The food-delivery platform saw a good revenue growth in FY19 and FY20. However, its
nine-month data is a bit lower. In fact, the company said that its revenue may decrease and it
may not be able to sustain historical growth rates and historical performance may not be
indicative of future growth or financial results.

Risk Factor: TechRyde has said its revenue may decrease and the business may be adversely
affected if it fails to retain existing restaurant partners, customers, or delivery partners or fails
to add new restaurant partners, delivery partners, or customers to its portfolio in a cost-
effective manner.

Net cash used in operating activities for the nine months ended December 31, 2020 was Rs
269 crore, cash flow in investing activities was Rs 4,222 crore, which included payment to
acquire liquid mutual fund units, while cash flow from financing activities was Rs 4,574
crore.
Risk Factor: The COVID-19 pandemic, or a similar public health threat, has had and could
impact the business, cash flows, financial condition and results of operations. The company
said its business, cash flows and prospects may be materially and adversely affected if it is
unable to continue to provide services to its restaurant partners or to implement its strategy of
enabling more restaurants with more solutions.

"The unfavourable media coverage could harm its business, financial condition, cash flows
and results of operations," it said. It also noted that it faces “intense competition” in food
delivery and other businesses and its business, financial condition, cash flows and results of
operations could be adversely affected if the company is unable to compete effectively".

We have been publishing our annual report in the first week of April for the last 3 years.
Typically, our annual reports outline our performance during the last year, and some narrative
on what we think the future holds in store for us. This year, when the pandemic hit the world,
our past became irrelevant, and the future uncertain. We decided to delay our annual report
by a few months (some perks of being a private company).

Right now, in the middle of July, as our future seems more predictable, we decided to publish
this performance report for the last 5 quarters combined.

This performance report consists of three parts –

1 – Financial performance (FY19 vs FY20, Q1 FY21)

2 – Business segment performance (2a - India Food Delivery, 2b - Dining Out, 2c – B2B
Supplies)
3 – Social Responsibility (Feeding Foundation)

1 – Financials (FY19 vs FY20, Q1 FY21)

Our revenue in FY20 grew by 105% as compared to FY19 while the costs grew by only 47%
in the corresponding period. Moving our business towards profitability was a core focus for
us in FY20 and we made significant progress along that journey
In the last few quarters, as is evident from the charts above, we fast tracked our efforts
towards making our business profitable and drive efficiency into our spends. While COVID-
19 has impacted the size of our business, it has accelerated our journey to profitability. In
terms of the size of the business, COVID-19 has set us back by a year or so – but a year is
only a small blip when you are building a company for the next 100 years. Having said that,
COVID-19 has positively impacted the health of our business – we seem to have gained 2-3
years along this vector. In July 2020, we estimate our monthly burn rate to land under $1m,
while our revenue should land at ~60% of pre-COVID peaks ($23m per month). We expect
to make complete recovery over the next 3-6 months while continuing to maintain tight
control on costs/profitability.