 This is a small crowd, I'll just make it a bit more informal. My name is Manoj Gupta. I'm founder and CEO of Craftshilla.com. We are India's largest online market place for ethnic products. For ethnic products for us means that anything and everything which has come out of this country, which is the IP of this country, a product can be traced over 500, 2000, 2000s of years. That pretty much is ethnic for us. Theoretically we are focused on ethnic, but from a category perspective we are cross. We have ethnic fashion, ethnic moves, ethnic home, handicrafts. We have herbal products, Ayurvedic products, traditional products. We go basically agnostic across categories, but thematically only focus on ethnic. We started about four and a half years ago in 2011. At that point I'm pretty much in India at this stage. In some ways we were one of the very few market places which emerged in 2011. Personally just to give you my background, before starting Craftshilla I was a venture capitalist at Nexo Center Partners. I was involved in few of the early stage companies there. I was there for four years. Before that I started a tech company in US in San Diego. Ran it for six years, sold it and came back to India. So pretty much come from a tech background. So if you want to talk tech, but I'll keep it focused on Craftshilla, our journey, what we have done. One of the unique things about Craftshilla, the three or four unique things about Craftshilla. One of that is that we are as you know Craftshilla, ethnic space. So we are not creating a replica of anything in East or West. We are what we are, part of India, completely rooted in India. In that way very very unique. The second thing unique about this is this category has an interesting gross margin. 60 to 80 percent gross margin. We take 20 percent commission. This is a category where you can actually become profitable in your farmers. I keep telling a lot of people that we cannot become profitable. I don't think anyone can in the world in India. Third thing unique about this category is that about Craftshilla as such. We are one of the very few e-commerce companies. We don't give discounts, coupons, nothing. We're not here that kind of story from us. It's an e-commerce story. It's completely built on value to the consumer and value to seller. Therefore, really selling the value proportion of a real consumer company I would say. So coming to the portioning. So Etsy basically is rooted in more about handmade, primary producers. So if you are a wholesaler, you cannot sell on Etsy for example. If you don't have, if you're a part of a machine made, you cannot sell. We are about ethnic. So handmade is a subset of what we do. But we also are machine made. There is no restriction on that. So the way we look at ethnic, we looked at ethnic and we are looking at ethnic. And the reason why we are so successful, despite, to tell you, we are the largest ethnic brand right now in India. It's the kind of thing we do. The reason is that we looked at ethnic from a very mainstream angle. We said ethnic is so mainstream. Why make it exotic? So a lot of times ethnic, you know, you will see the companies in e-commerce focused on offset of the market. A lot of times we count or ethnic brands as such to focus on higher end langas, higher end saris and those kinds of things. We said that with online, I can actually take ethnic, actually I can target the mainstream ethnic part. Which is huge. You know, if you go out of any big city, almost, you know, the daily lifestyle has a lot of ethnic, you know, biggest ethnic passion. So that's regarding the, you know, positioning. We look at very mainstream ethnic. We don't look at high and low end across the spectrum of all the consumer spectrum. We have 50 rupees product. We have 50,000 rupees langa. Because we are marketplace, you know, we can play with the, we don't have to restrict ourselves to a particular inventory or particular type of product. Our story is that, you know, we are ethnic, we are a marketplace for ethnic products. So basically those are the few unique things about Krapsela. And, you know, just to tell you a little bit about, I think, just numbers and, you know, where we are. We have 4 million products across categories, about a half a million orders every month. Over, now we have more than 2 million registered customers. For 30 million unique visits and, you know, pretty well funded. We are more than 50 million dollar funded right now. Or basically stories that we are here to create something really, really big in ethnic. You know, we are here to sort of take over the whole ethnic empire and really get into all kind of ethnic, whether it's ethnic products, ethnic services, ethnic brands. We are here to sell, you know, from Matthais to, you know, Ayurvedic herbal products to, you know, high-end hangars, sari, siva suits, burlary. Whatever, whatever is a gamut of ethnic, you know, we are here to capture that. Primarily, basically, you know, the vision of Krapsela was, when it takes societies back to root, we realize that a lot of people are going in a particular direction and there's a lot of opportunity in other directions. I keep, you know, because I come from a VC background, I always, you know, used to tell and still keep telling that if some, if the opportunity is neither in the east and neither in the west, it's always northeast, north, south, you know, in different directions. You have to just look at opportunities and, you know, where it doesn't exist. And, you know, Krapsela is looking at that opportunity, looking at opportunity which is not traditionally very hard to picture VC, for example. You know, we see, when we started, they said, you know, what are you building? You're not building Uber of India. You're not building EJ of India. You're not building... What are you building? It's very hard to pitch that story. So, but I think there's a huge opportunity in this statement here. And, you know, we're seeing the, you know, we're reaping the benefits in some ways of that. And we believe it's a huge opportunity. And as I said, there's nothing, none exists like Krapsela globally. We are very, very unique in that perspective. And we are one of the fastest growing e-commerce companies known like 10 times, last 12 months, continue to grow very, very fast. As we grow our story will get highlighted a lot more. I personally believe that next two to three years will be one of the top three or top five e-commerce brands in India. So what has been the success mantra? You know, I'm just being very fluid. If you have any questions, you know, happy to answer, we'll talk. Basically, as I said, you know, it's being unique. We could have, you know, abed something and created something, but it chose to be unique. And because we were unique, we had advantages where, you know, we were not fighting for the same consumer. We didn't have to give discounts once and, you know, really scale up with very, very little money. So we have raised the table of dollars, but we still have like 75% of my money lying in the bank right now. It's something we have achieved in, you know, very small amount of money. Capital efficiency is one of the, you know, success mantra. Whatever we do, we are very, very capital efficient. We are one of the leanest and meanest startup. We are one of the leanest and meanest marketplace. We don't have no inventory, no warehouse, no logistics, nothing. It's just, you know, you know, you have 200 people, just that, you know, there's no feed on the street. And of course, we have a global approach. One of the unique things, the other thing we should talk about is that the market actually don't, not only exist in India, but also it's outside of India. We can literally, you know, the domain in which we are playing is, the market in which we are playing is a global e-commerce marketplace, not just Indian e-commerce. And one of the other things has been the focus and position that if you want to run a startup, you have to understand that being very, very focused and not, you know, going east or west and being very, very persistent about, you know, what you're doing and being believing in you and just going in the direction in which you believe that that is the right direction for me is very, very important in any startup. And, you know, we have, you know, that. You know, when we started just to, you know, iterate the story of Tesla in some ways, is that when we started, we started with Big Bang. We didn't have a lot of money, but we were doing a lot of discounts. That was 2011 time. We thought, you know, we could do something. We could do a lot of these numbers on paper and, you know, so to receive real good money and those kind of stuff. But of course, you know, that approach didn't work. We ran out of money. We basically, from 100 people, we became 10 people. And we went to a very, very tough phase in 2012, 2013, 2014. And at that point in time is when, you know, a lot of the foundation for today got built. We realized that, you know, we don't have to give up on discounts to run any kind of something. And that would not have come unless, you know, we have gone through this tough phase. We realized that, you know, there's a lot of things we can do to tech. We don't really need to hire people. So, till about, you know, about the end of 2014, we were like 12 people. And we were doing more than 100 to 120 kilowatts a day. So, and we were profitable. That's one of the things very big about us when we were profitable. And that basically, that was the time when, you know, we learned a lot of basic things about business. We learned how to borrow a consumer. And, you know, 2015 was the time for us when we scaled really rapidly. We grew very, very fast. We raised two rounds of funds. One was CDP and CDC from really good venture funds. And so that's basically, in some ways, I thought, you know, these have been the phases of Tesla. You know, it was an impulsive start. It was not a start when it was the spotting of the opportunity and the starting the next day. If you think too much in any startup, you know, it always makes you think about more pro and cons. And you start to think with more cons and less cons and less cons too and so on and so forth. So, any startup, in my view, is a good startup. You see, it has been an impulsive start. It's not about thinking too much. Then there was a foundation build-up. There was a scale build-up. And now we're getting into more and more brand build-up, you know, TV advertising and print advertising and stuff. And in 2017, 2018 is when we are looking to go public and, you know, go to the world. Here is the e-commerce company. It's really built on, you know, two values of business. And something, you know, is an example of something that can be really built. So a lot of people don't believe that in e-commerce in India, things can be built with a value. I think we need to, you know, someone needs to have to show that as an example. Hopefully, we can do that. I think pretty much that's the story. I think, you know, we are also a company which has been built on, you know, constraints. So I say to a lot of people that you have to define a table to dance. This is the table now. There's nothing else. We don't have a whole floor to dance. So show me the magic. And because we were built, a company which built out of constraints, magic happened. And we will continue to show magic because we continue to believe in constraints and not really spending too much or more into scams or this kind of stuff. So just to be on becoming an entrepreneur, you know, a faculty exists everywhere. It's more about observation than insights. You know, we can read a lot of papers. We can read, read two-dollar data. I always say that entrepreneurs are data creators. They create data for the next generation. They have very little. They take the data and, you know, do something. So it's all about observation, experiments, a portrait spotting. And sometimes they have to go out of context. So I don't come from handicraft industry. I always see that the best doctor is not necessarily the best business in healthcare. Out of context always helps you to see a business or something with less emotion, more truthfully and, you know, look it at a bird's eye view and say there's an opportunity. So it doesn't necessarily have to be in the same domain in which you're doing. Sometimes, you know, just going out of context helps. And you should have passion to build something large. Small doesn't matter. You have to build something large. You are becoming a startup. And being personal focus is simple. Complex business models don't work. If you have too many complex things going on, think about simplifying it. Anyways, business is a complex environment. You don't want to over-complicate with your own variables and, you know, constraints and stuff. And scalability is very important. Anything you do, one of the reasons why we chose marketplace is because it's very, very scalable. Today everyone wants to be marketplace. Four years before, it was not the case. I was one of the very few companies at that point in time chose to be marketplace. But it's very, very scalable. It helps you scale infinitely without really worrying about inventory, warehouse, you know, financing. And, you know, just slightly become an entrepreneur. It's a beautiful journey. I keep that slide as the last slide always. Just to, you know, absorb people to become an entrepreneur. In my view, you have one life. You know, live it like an entrepreneur. That's it, yeah. Any questions you have? Yeah, in the world where you need to reach faster to the customer. I mean, you need to make delivery faster to the customer. You said that you don't have a warehouse or something like that. So I think you have actually built a constraint over there. So how do you deal with this? I mean, the delivery time, especially. Yeah, so delivery time, specifically, we choose the things about our business. If we are not in a category where customers are looking to buy, get the product initially. Although there's expectation is, you know, I can see that it's become more and more because everyone is doing that. But even then, even today, customers are okay waiting three, four, five days. Second thing is that a lot of first sellers actually dispatch on the same day. They're very, very quick because they've seen how online has shaped their, you know, business, their livelihoods. You know, a lot of first sellers actually own how, you know, big cars and those kind of stuff. And they actually were struggling to get there. So they have seen that, you know, that. And they also understand that customers need to get products very quickly. They dispatch on the same day. About 80% of first sellers dispatch on the same day. What value proposition your send is actually bringing in when you actually bought, what was the strategy? The send. Send, yeah. Yeah, so we acquired send, which is a logistic, virtual logistic. It's not, there's no feet on the street. Which to take, give us the reach. So then basically integrates with all the company. Today, you know, just two months back, we had 5,000 pin code weeks. Today we have 20,000 pin code weeks. The second thing is gives us efficiency. So any shipment gets routed to the courier company, which is at least RTO and least cost for us. So I'm not dependent on the particular courier company, Gold Power. So it has done well for us. Again, you know, we didn't acquire proper logistic something because for us that's not very capital efficient. Yeah, also one of my friend had this kind of model and he started, he actually used to buy it from Dubai or somewhere. He used to sell it. But he has to close it down because the rejection rate was quite a few. I don't exactly remember the number of the percentage, what was the rejection, but the rejection criteria was like the color I saw or the shade I saw is exactly not matching or something like that. So what is your rejection ratio and how you are dealing with it? Yeah, for us actually it's not very bad, about 3% is acceptable. So how big is the seller network that you have and how did you create that network with such a thin team? We have close to about 30,000 sellers. 30,000 sellers, you know, there are two things that work for us. One thing was, we started in an era when no one was there for a ethnic seller to list their products. So Crab's law in some ways was de facto domain or de facto destination to list ethnic products. Ethnic today, it was the hottest category for all marketplaces. It was in the case three or four years back. We championed this category, we brought in the category to this level where everyone wants to be known. But at that point in time, sellers didn't have a lot of prices to own. Second thing is that we have open market place philosophy. It means you don't restrict anyone from entering the industry. We are one of the easiest platform to list the product. And we kept it that way so that, you know, a lot of our sellers are not very online savvy and those kinds of stuff. We didn't want it to be very, very complicated. It's a word of mouth. Even today, we don't have a seller acquisition. It's a completely word of mouth. So one seller telling another seller, they're telling their family member, friend, another shopkeeper, that I listed and I saw this benefit to you also. It's a completely word of mouth. Yeah, thank you.