Kiko Live: Empowering Local Retailers in E-Commerce

With a simple yet innovative vision to empower and digitalize local neighborhood retailers, Kiko Live was founded in 2020 in the retail sector. Having mentioned a brief about the platform, you must be curious to know more about the same. Are you one of those retailers looking to expand their business by digitalizing it? If yes, then you’ve landed on the right platform because today we’re going to guide you with some relevant information about this. Therefore, without further due, let’s get started with this guide. Keep scrolling down through the whole story! 

Kiko Live: E-Commerce Startup

As previously discussed, Kiko Live is a local retailer development e-commerce platform, that encourages retailers to digitalize their businesses. Yet again, it serves as an excellent opportunity for those kiranas, pharmacies, and any other small stores to digitalize their businesses. 

Emerging in 2020, with its headquarters in Mumbai, Maharashtra, the company offers an all-around solution for setting up digital storefronts, managing home deliveries, and connecting small neighborhood stores to ONDC.

How did this company come to the limelight? Well, it’s because the Kiko Live Founders i.e., Alok Chawla, Neeta Rijwani, and Virendra Kumar came to seek investments in the 47th episode of Shark Tank India Season 3. What happened in the pitch? Let us know in detail.

Products & Services Offered by Kiko Live

• Kiko Live has a commission-free online shop solution for local retailers. Enabling businesses to manage their brand names within their online sites, have control over product listings, and local delivery helpers. 
• The patented offering by the firm enhances an interactive online shopping experience. 
• Through this method, they have partnered with the Open Network for Digital Commerce (ONDC); however, a 5% commission is payable for successful ONDC listings. 
• This model enables local retailers to avail of cost-effective e-commerce solutions while probably tapping into the value of a national marketplace.

The Shark Tank Pitch of Kiko Live

The founders pitched the platform in the 47th episode of Shark Tank India season 3, seeking investment of ₹1 Cr for 1% Equity at a business valuation of ₹100 Cr. 

During the pitch, they pitched about the strengths of the company and how it helps retailers expand their business within the e-commerce arena. Following the pitch, it was the time of counters from the Sharks, which were as follows. 

• Aman – He didn’t show any interest and rejected the pitch saying that it was not worth investing in a business with a valuation of Rs 80 crore. Although he saw the founder as a great entrepreneur, he rejected the idea.

• Namita – She couldn’t gather confidence in the business valuation of Rs 80 crore, expressing concerns about the future of the business. Analyzing the high competition in the market, she didn’t invest. 

• Vineeta – She cited companies who are already present in this sector have substantial cash, which could provide a significant challenge for Kiko Live in the future. With relatively little funding, it would be difficult for the company to survive in the current environment. She didn’t invest as a result.

• Deepinder – According to him, the whole pitch was focused on ONDC instead of the business model, thus creating distrust between them. Therefore, he didn’t invest.

• Anupam – The Shark didn’t find any new or innovative in the business model and stated that it couldn’t solve the existing problems. Already existing in the market, he didn’t want to contribute only 1% of Equity. Therefore, stating that the valuation was overpriced, he didn’t invest. 

Therefore, the founders were not able to build trust among the Sharks, in terms of business valuation, and hence, they did not crack the deal. 

What Happened to Kiko Live After Shark Tank?

Kiko Live did not manage to close the deal in Shark Tank India. But they moved with great strides on their platform after the show. The company continued to evolve through user feedback and favorite investors. The focus remained on innovating more features and building a strong community of creators and brands. Besides, currently, the company is giving every retailer across the country to be part of the Quick Commerce boom. Besides, Kiko Live Revenue stands at approximately ₹21.78 lacs. 

Further, Kiko sellers are visible through the multiple ONDC buyer apps, including Kiko Live’s buyer app, PayTM, Mapple, MyStore, and others. In return, as a result of enlisting as a seller on the Kiko Live platform, businesses enjoy a significant hike in their online presence that, consequently, offers enhanced visibility along with immense business growth. This smooth process allows sellers to scale up with ease and increase their revenues. Currently, Kiko Live Valuation stands at $10 million. 

Strengths & Weakness of Kiko Live

Strengths

• It is a commission-free online shop solution, making it an attractive option for local retailers. 
• Sellers can create their own branded websites and manage their product listings easily. 
• Integration with ONDC helps sellers to reach a broader customer base beyond their local reach. 
• The online shopping feature enhances customer engagement. 

Weaknesses

• Higher Business Valuation.
• The competition for local retailers in the e-commerce landscape is high. 
• The increased dependency on ONDC is a negative factor. 
• Lacks proven track record and substantial revenue stream. 
• Limited funding scope. 

The Future Potential

The future course of the brand depends on how it cuts through the competitive e-commerce landscape for local retailers. Although the commission-free shop solution and ONDC benefit Kiko Live, much depends on the path laid out for differentiation. 

Their proprietary live shopping technology that contributes to customer engagement will also shape the success of the brand. Having sufficient funds to compete with the incumbents is also crucial. The brand’s prospects will remain uncertain until these challenges are resolved and sought for sustainable market position carving.

To Sum It Up

Lastly, Kiko Live is a Startup platform where the local retailer can digitalize their business in e-commerce  The company gained recognition after its appearance on the 47th episode of Shark Tank India 3, asking ₹1 Cr for 1% Equity with a business valuation of ₹100 Cr. 

However, despite their impressive pitch, the founders remained unsuccessful in cracking any deal, particularly because company’s high valuation, intense competition, and increased dependence on ONDC. 

Following its appearance on Shark Tank India, the company is growing slowly and steadily, offering local retailers an opportunity to digitalize their business. Alongside, we’ve also covered the products and services, strengths & weaknesses, and future potential.

Also Read: List of Top-Rated Health Insurance Companies in India 2024 | List of Top Software Companies In India To Know About 

Hope this guide was helpful to you!

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