Market Choice forIndian Software Product

Startup

Consumer

SMB Enterprise

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Indian Founder

Consumer SMB Enterprise

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As of 2017 some markets have opened up

Current Software product startups out of India

Consumer SMB Enterprise

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eCommerceOnline Travel

Consumer SMB Enterprise

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$35 - 60b

Cumulative market cap so far

~ $10b

India consumer has further more layers

Consumer SMB Enterprise

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eCommerce

Online Travel

India 1: Above Rs 5 lpa

India 2: 2 lpa - 5 lpa India 3: < 2 lpa

eCommerce

India 1: Above Rs 5 lpa

India 3: < Rs 2 lpa

India 2: Rs 2 lpa - 5 lpa

Elite (11M HHs, 4%)>$37k annual gross HH incomeWealthiest class in IndiaAffluent (26M HHs, 9%)$18.5k-$37k annual gross HH incomeTop 6-10% of highest income HHsAspires (66M HHs, 23%)$7.4k-18.5k annual gross HH incomeMiddle Class- Looking to trade up & aspire to upgrade (Disposable Income - 60%)Next Billion (103M HHs, 500m, 36%)$3.3k-$7.4k annual gross HH incomeNew Consumers- HHs have some disposable income (33%), total spend $1 T

Strugglers (80M HHs, 28%)<$3.3k annual gross HH incomeHHs with the majority of spend on basic needs such as food, shelter, power & water

India 2 is opening up

Consumer

SMB Enterprise

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tnatural disadvantage

should have advantage

Indian Founder

Silicon Valley Founder

Competing Dynamics

Consumer

SMB Enterprise

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Win in market

Create market

Indian Founder

Silicon Valley Founder

Gameplay is different

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SMB Enterprise

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Market Growth $1b (5-7 years)

Market Growth to $1b (10 - 14 years)

Indian Founder

Silicon Valley Founder

Market growth velocities are different

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PlaybookPlaybook

Choice further shapes Go-To-Market

(Desk Marketing Inside Sales)

(Product in India,Sale Scale in US)

To SummarizeIndia vs Global • Create vs Winning Market Playbook • 5-7 years vs 10-14 years horizon • Disadvantages/Advantages in availability of capital,

mentorship & policy shaping ability.

SMB vs Enterprise determine GTM • Inside Sales vs Feet On Street