Why and How More and More Startups are Making Tie-Ups?
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Start ups Joining Hands to Capture the Market: What are the Mutual Benefits?
Although start ups strive to provide solutions itself but sometimes they get stuck in the problem itself that it gets difficult for them to come out of it unless they see any support to their rescue.
As a result, we see tie-ups taking place. Yes, here’s when two start ups join hands or say come into partnership to solve the problem in a collective way while trying to fulfill each other. In this article we will read about the start ups that recently came into partnership.
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Startups Join Hands
Let us take a look at these:-
1. Uber & Gaana
This is a tie-up between a music and travel company wherein Uber which is known for its cabs has tied up with Gaana which is a very popular online music portal. The aim behind this tie-up is to offer free music subscription for two months for Uber riders.
In order to give the Uber rider a great holistic Uber experience and to engage more with riders, this tie-up came into picture. To give a rider more happening Uber experience, this strategy plays an important role.
As per the sources, the pilot study is going to be conducted in Mumbai applying to all Uber Go, Uber WiFi, Uber SUV and Uber Black.
Coming onto the music portal “Gaana”, then this music app with this tie-up is getting into in-car entertainment which will give the its rider a complete experience wherein he/she can play uninterrupted music of their choice while the ride is on.
2. OYO & ItzCash
This is yet another tie-up focused on easy payments and convenient stay. OYO which is a budget hotel aggregator has came into partnership with ItzCash which is a digital payments firm. In order to facilitate and make the payment procedure easy for booking hotels the step has been taken by OYO.
Talking about the advantage that lies for both the firms is, this partnership will help OYO get access to 75,000 physical and digital retail touch points of ItzCash whereas coming onto ItzCash then, On the digital front ItzCash will be able to make a strong grip.
The option will be provided to the consumers that without using debit or credit cards they can pay for hotel bookings.
In the words of Naveen Surya, Managing Director of ItzCash, In context of this tie-up he said: “While we already dominate Rail bookings; our focus in air and hotel bookings will drive the incremental growth in the next two fiscals for ItzCash.
Travel & Hotel bookings account for 12 – 15 % of ItzCash business and with this association it’s going to be the fastest growing sector for us.
It is expected to grow at 60% year-on-year.”
As far as OYO is concerned then with this tie-up the traveller-base that transacts via offline channels can be reached by the company leading to large customer base and thereby huge profits.
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3. Industry-Buying & Tradexs
The tie-up took place between e-commerce platform industry-buying and Tradexs. Industry-buying is into B2B transactions whereas Tradexs is an online/offline marketplace.
The goal behind this partnership was to liquidate Tradexs excess inventory. With this tie-up the excess inventory if industry-buying (which it wants to liquidate) can be listed in Tradexs marketplace and in a short span of time, tradexs will sell this stock through its online/offline channel.
This feature of inventory liquidation by industry-buying was included last year wherein excess stock of industrial and B2B manufacturers and Original Equipment Manufacturers gets listed online to be sold to customers all over India on a monthly basis.
4. Express Bike Works & Hindustan Petroleum Corporation Limited (HPCL)
To expand its reach across the country, Express Bike Works which is an automated bike wash start up has tied-up with Hindustan Petroleum Corporation Limited (HPCL).
The company wants to franchise across the country by setting up franchisee outlets at HPCL’s 12000+ sites. Calling HPCL a start up will not be right as it is not yet after tie-up it is a huge support to Express Bike Works.
EBW will be launching its outlets soon in different cities across India. Though it already has 2 in Mumbai yet Nagpur, Vizag, Cochin, Vijayawada, Pune & Hyderabad are on its list. The services covers, automated motorcycle washing, detailing, health check-up, express maintenance and on-road assistance to be provided all over India.
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