Business Description:Services provided by PAYNET24*7 :- * Mobile recharge round the clock * Bill payments- electricity, water, telephone, internet. * Ticket booking- railways, air, movie * Payment of Traffic challans * Facility of providing Passport,PAN Cards,notary services * Providing flowers, gifts, books, stationary within 24hours at your doorstep
Industry:Telecom/ Mobile
Founded in:2008
Source of idea:Systematic search for business opportunity
Significant Competitors:Oxigen & Hero Easybill
Company Details :
Company Name:Paynet24x7
HeadQuarters:New Delhi
Stage of the company:Have first customer
No of Employees (2006):Did not exist
No of Employees (2007):0-5
Office Locations(2006):Did not exist
Office Locations(2007):0-1
No of companies promoted:No
Profits (2006):Did not exist
Profits (2007):losing money
>Partnerships:Looking forward to tie ups with various retail chains & coffee chains.
Initial Funding:Family & friends
Addl Funding:Personal savings
Institutitional Capital:No
Revneue Model:Business makes money in 4 ways:
1) The margin & commission provided by various service providers like telecom operators or job portals or electricity providers.
2)The interest earned on 40-50 Days of credit provided by all credit cards.
3)In the form of Membership fees from customers.
4)Space Selling.
Awards & honors:Only a 2 month old start up, so we're looking forward to hottest start ups & the CNBC Young Entrepreneur Award.
Promoters Details :
Promoters Name(s):Karan Malhotra
Age:21
HomeTown:Delhi
Education:Masters
No of companies promoted:No
Family Background:First gen entrepreneur
Job:N.A. at Still pursuing my studies
Ex-Job Description:N.A.
Favorite Book/Movie:It Happened in India (Autobiography of Kishore Biyani)
