how many unique buyers visit justdial platform

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Justdial secures 17.04 crore unique users in Q1 FY 2024

Updated Aug 2, 2023, 13:09 IST

• Justdial secures 17.04 crore unique users in Q1 FY 2024, solidifying its position in India's digital landscape.
• Despite reduced ad spending, Justdial sees a 33% surge in revenue, reaching a record INR 247 crores in Q1 FY 2024.
• User-centricity drives Justdial’s growth, ensuring high accessibility and usability of its platform.

Justdial Q1 FY 2024: Fiscal Feat

Justdial q1 fy 2024: revenue record, justdial q1 fy 2024: enhanced user engagement, justdial q1 fy 2024: user centricity at core.

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JustDial Business Model: How Does JustDial Make Money?

PV Vyshnavi

“JustDial app se pucho” has now become the main tagline for the local search market JustDial. It has become so popular in India that its advertisements run all across the country on billboards, social media as well as movie theaters. Have you ever wondered how this company become so famous?  JustDial came from humble beginning like most successful ventures, it was the Justdial business model that make the company to be one of the top classified website in India.

JustDial was founded by V.V.S Mani who was a former employee of the yellow pages when he thought of JustDial idea in 1987. The company’s turnover is over 128.8 Million with a huge call count of over 1.9 Million on a daily basis and has 7.22 million daily page views. It extended its services to Canada, UK, UAE, USA and its offices in Ahmedabad, Chandigarh, Hyderabad, Bangalore and other metropolitan cities of India.

JustDial allows businesses, websites anyone offering any kind of service to list for FREE in their search engine but charge INR 2000 per month in turn forward all user details in that segment who call Justdial looking for that service. JustDial got so popular and successful enough to employ the services of one of India's iconic actors, Amitabh Bachchan as their brand ambassador for a long time. Now, Ranveer Singh is the brand ambassador of JustDial .

History of JustDial Business Model of JustDial Revenue Model of JustDial JustDial Investors Key Reasons for JustDial Success

History of JustDial

The company got registered in 1994, and they started out in a hired garage, with rented furniture with a merge investment of ₹50,000 and with just 5 to 6 employees. The founder V.S.S Mani has been a serial entrepreneur throughout his career as also had started a company called Ask me. Although the company was successful the business soon failed since the business model wasn’t viable as the penetration of telephones was less than 1% in that time as it was in the year 1989.

Although the name Ask me was a catchy name that hit the customer mind , the lack of a telephone number with a good and memorable hook to it but the number was not on their lips because of its complexity. So the business failed shortly, while that did not stop V.S.S Mani as he planned to move into a business of wedding planning . Mani was successful with this venture this time as he generated a profit margin of ₹ 2.5 lakhs.

However, still dissatisfied with his line of work and the business model , Mani decided to head towards his original idea of making a platform for local search destination leading to the making of Justdial . Mani agreed to the fact that he had made mistakes earlier and had learnt many things from his failure.

With the new start he moved on with a fire in heart to become a leader in the local search destination. He then focused more on getting a valuable number rather than to have a unique name for the company which proved a big mistake to his previous venture Ask me. This time he succeeded got the number 10 times the number 8.

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Business Model of JustDial

Justdial's success story essentially boiled down to the business model by which it was run. This has resulted in Just Dial reporting a negative working capital and higher and higher revenue each month, which means their business practically runs itself. Let’s look at just how Justdial was able to achieve such a widespread outreach.

First things first, the founders of Justdial got a catchy and easy-to-remember telephone number. Since they started out as a yellow pages company they needed a telephone number which user remembers at their fingertips. Thus after acquiring the phone number 10 times 8 they combined it with the name JustDial that made the company easy to remember.

Once they had successfully established the brand identity the next obstacle that they faced was the just dial team was one of the populating a database. They then managed to achieve to approach local businesses personally on foot door to door. They continued this process until they were able to get a substantial healthy database.

Once justdial established a good database that had a considerable volume the next challenge awaiting them was getting the users to use their extensive research and database to make the company a success. It was extremely difficult to generate an audience for the platform as it was short on funds and advertising revenues were also not that yielding.

Therefore in order to promote the usage of their service , the business tried convincing their clients as well as their employees to use the service being offered by the company. One more efficient and smart tactic that justdial deployed was not to focus and target the big name brands but it was to strengthen their ties with diverse local businesses that were already available.

This basically helped people to search for small businesses for daily utility like carpenters, plumbers, mobile shops, painters among others. This method of working on word of mouth referral helped Justdial get a lot of popularity and skyrocketing the number of their user base. In addition, Justdial was adamant about being a helping hand to small and medium organizations.

Revenue Model of JustDial

Just dial was adamant of huge online visibility, payments solutions, customized website, mobile site, and mobile site, and mobile app were all packaged together making an attracting value addition for companies with an MSMS registration. Justdial has a very efficient revenue models which cut their operation costs to a minimum. This was a tough task for the team as the management was lacking in fund and was unable to afford the advertisement cost.

So they decided to ask their employees to use the services of justdial.The low price of the products helped justdial in capturing the marketing quickly and each month they ended up with additional revenue. This gave them spare money and helped them in hiring more sales staff. The clients showed faith in the brands and paid in advance for the service.

The company had now started to expand their service not only in the category but also in geography. The B2B and B2C services available on a number of platform like phone, internet, mobile internet and SMS and now the growth of mobile and handled devices has motivated Justdial to launch its mobile app for android, IOS and blackberry.

JustDial Investors

In January 2016, Justdial raised a funding of $18 Million, from Nalanda Capital in Post IPO equity round.

In June 2012, Justdial raised $57 million from the existing investors including Sequoia Capital and Sapphire Ventures. Earlier, the company had raised funding of $10 million in June 2011 from the same investors. The fund was also utilized wisely by the management which increased the brand value in the industry. The funds were utilized in the process mentioned here.

With the growing popularity and ever-growing network of Justdial, many big firms started seeing the benefits of the local business indexing system and started investing in the same. Some of the major investors in the Justdial journey are:

• Sapphire Ventures
• Sequoia Capital
• Nalanda Capital
• Matrix Partners
• Norwest Venture Partners

The revenue raised was then managed effectively for brand building, promotions and advertisement. Here are few objectives that were achieved through the investor money.

• Strengthening the Company’s Brand Value .
• Improving the relation of the brand with SME’s.
• Extending the scope of business activities into new products and activities.
• Obtaining licensing to expand the geographical outreach of the company.

Key Reasons for JustDial Success

Some of the factors that made JustDial so successful are:

• Long Standing presence in the search market
• JustDial Business models adapt to the needs of the present. They shifted platforms from a telephone-based directory to a web-based directory and now to Mobile App-based services.
• Quick Response time to user questions
• Consistently delivering User Experience of the highest quality
• Profitable revenue Model
• Experienced Marketing and Management Divisions with extensive experience.

Who is the founder of JustDial?

JustDial was founded by V.V.S Mani in 1996 in Mumbai.

Who owns JustDial?

JustDial is owned by Reliance Retail. In July 2021, Reliance Retail acquired JustDial with sole control over it.

Who is the brand ambassador of JustDial?

Bollywood actor, Ranveer Singh is the brand ambassador of JustDial.

What is the valuation of JustDial?

JustDial Valuation stands at INR 890 Crore.

Who is the CEO of JustDial?

V.V.S Mani is the CEO of JustDial.

What is the revenue of JustDial?

Total revenue of JustDial is INR 825 Cr in 2021.

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CASE STUDY: How Justdial became a Billion Dollar Company?

Current scenario of Justdial

Justdial is India’s search engine for local search market which initially started as a classified website but soon transformed into a local search engine. The company employs over 9,000 employees in 15 different offices spread across the country. It has a record 12+ million listings in its database offering services in more than 2000 small and big cities of India.

The company receives a huge count of over 1.9 million calls on daily basis. Other than this, number of online searches over the website was recorded to be 1125.7 million for the FY 12-13. The company is growing day by day and has seen 1.16 million unique visitors on daily basis contributing to 7.22 million daily page views. The company has extended its services to Canada, UAE, UK and USA. As of now, Justdial has recorded over 3.4 million app downloads for its mobile platform

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How Justdial came on the platform?

The company was grounded in 1994 with an investment of 50,000 rupees in a hired garage with borrowed furniture and rented PCs with just 5-6 employees. In a short span of time, Justdial has become the most frequent local search website in the country.

With continuous success, Justdial has entered into other countries with the same success model. Currently it has operational offices in UAE, Canada, UK and USA other than 15 offices in India.

V.S.S.Mani, the founder of Justdial, in his initial days was working as a sales person ina yellow page company, United Database India (UDI), which injected a business plan inside him to create a database like UDIwhich would be available over the telephone. He worked in thatcompany for 2 years and according to him, these two years were the time that prepared the ground for his entrepreneur startup. He credited these two years far superior than any MBA program because what he had learnt here was not going to be taught in any of the MBA programs. He met with entrepreneurs from different business line and learnt many strategies from them. Thus implementing his idea to reality, he withsome of hisfriends launched “AskMe” in 1989.

Although the company was erected, it failed shortly because of one of the most important causewhich was low penetration of phones in India at that time. According to a report, only 1% of the total Indian population had telephone in 1989 and itdid not favoredthe business model much.

Also, People were able to remember the name of the company “AskMe” but the number was not on their lips because of its complexity. So the business failed shortly. Mani was disappointed but not hopeless. He distributed his shares to his partner friends and left the company. This was not the end; Mani was planning for his second inning.

He planned to move into a business of “Wedding Planning”. His family members were supportive for him. He along with some of his friends invested an amount of 50,000 rupees in the “Wedding Planner” business.

Although the business gave them a profit margin of 2-3 lakhs, but Maniwas not happy with the kind of business model. So he again headed towards his original idea of making a platform for local search destination.

What Business Model Justdial is following?

Mani agreed to the fact that he had made mistakes earlier and had learnt many things from his failure. And with a new start, he moved on with a fire in heart to become a leader in the local search destination. Mani focused more on getting a valuable number rather than to have a unique name for the company, which proved a big mistake to his previous venture “AskMe”. This time hesucceededand got the number 7 times 8.

After getting a catchy and unique number, next task for Mani was to create a database of businesseshaving all the required information which a user searches for. The process was started by moving door to door. Information was collected by approaching the local businesses personally by a team of Justdial.This process continued and the team had now a healthy database with them.

But next stage of the business was to bring users touse their information. This was a tough task for the team as the management was lacking in fund and was unable to afford the advertisement cost. So they decided to convince their current clients only in the initial stage. The clients were to ask their employees to use the service of Justdial.

Also, rather than to focus on big brands and names, the company focused on the diverse local businesses which people used to search generally like carpenters, plumbers, mobile shops, painters and many such others.

This worked quite well for Justdial and with word-of-mouth model; the brand became popular among the mass. The company was onthe track and wasready to start earning from its business model. One among its 10 clients agreed for a sponsored listing and the company started gaining the revenue.

The low price of the product helped Justdial in capturing the market quickly and each month they ended up with additional revenue. This spare money helped them in hiring more sales staff.

The clients showed faith in the brand and paid in advance for the service. The company had now Negative Working Capital with it and this proved to be like a panacea for them. They started to expand their service not only in categories but also in geographies.

The B2B and B2C servicewas available on a number of platforms like phone, internet, mobile internet and SMS and now the growth of mobile and handheld devices has motivated Justdial to launch its own mobile app for Android, iOS and blackberry.

Who invested in Justdial?

SAIF Partners, Sequoia Capital, Tiger Global, EGCS and SAP Ventures showed interest in the growth of the company and invested in the company.

In June 2012, Justdial raised $57 million from the existing investors including Sequoia Capital and Sapphire Ventures. Earlier too, the company had raised funding of $10 million in June 2011from the same investors. The fund was utilized wisely by the management which increased the brand value in the industry. The funds were utilized in the process mentioned here.

• Strengthening Company’s Brand .
• Enhancement of Company’s SME Relationships.
• Extensioninto New Products and Services .
• Gaining Licensing to Expand Into New Geographic Markets.

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What promotional and marketing strategies Justdial followed to reach the customers?

Just Dial used traditional as well as digital media to promote its business including Television, Print and Radio as well as Online media. The base of the promotion was made easy in the initial stage of establishment of the business by selecting a super easy number 8888888888.

Amitabh Bachchan and Boman Irani were endorsed as brand ambassador to promote the brand over television and radio. According to a disclosure by the company in its IPO prospectus, Bachchan was allotted 62,794 shares at a price of ₹10 each in 2011, valuing his original investment at just ₹6.27 lakh. His holdings are now valued at around INR 9crore.

Justdial used to place a hoarding outside the crowded place like international airports, major railway stations with a book in hand showing all numbers.

During the wedding seasons, it always started marketing campaign to offer the numbers of shopping spots across various locations.

Justdial participated in the sponsorship of IPL in the year 2014 as an official partner of Royal Challengers Bangalore. For the year 2015, the brand was an associate sponsor for Delhi Daredevils in the IPL 2015.

Justdial also gained popularity through simple word-of-mouth strategy which was coming free of cost for them.

To promote more and increase its reach, the company hooked up with a radio station 93.5 forhosting promotional ads to win vouchers worth 2500.

Justdial launched its mobile app to reach in the pocket of each user. Android app and i-phone app was developed keeping in view the increasing market of smart phones.

Justdial also collaborated with Zomato to provide food coupons to its users. It also started an online food ordering service and ticket booking service in selected cities across India.

How the Company Generated Revenue?

Justdial used its clients for revenue generation. The sponsored listing enabledthe clients to stand on top of the search list by paying a certain amount to the company. Also the company earned a percentage of sales that got finalized through Justdial

Why Justdial kept on revolutionizing its Model and Platform time to time?

Justdial kept on revolutionizing itself regularly according to user’s need. Initially from a telephone directory based model, the company had moved on to Internet based model and now it is working on mobile device. Earlier, users had to call Justdial for any number and they were to pen it down. But with the implementation of new technology, an SMS is sent to the users on their registered mobile numbers with all the search results. Along with the SMS, an email is also sent to their corresponding email-id.

What worked in favor of the company all the time?

First Mover Advantage in the Indian Local Search Market:The Company had started its service in 1996 and believed that they have a first mover advantage among the customers seeking local business information. Strong Brand Recognition: Justdial believed that the following key factors had contributed in strengtheningthe brand name in India:

• Long standing presence in the local search market.
• Strength and quality of Company’s database.
• Fast response to search queries and
• Consistent delivery of quality user experience

Experience and Expertise in Local Indian Markets:Justdial have been functional in Indian market since last 18 years and the management team has gained extensiveknowledge in the core marketing sector including search service, advertising and IT industries in India.

Multiple platforms:Justdial has offered multiple platforms for using the services including Internet, mobile Internet, voice or SMS and now mobile app is adding extra advantage to the business. Efficient and Profitable Business Model: Just dial believed their business model a superb one which contributedhighly in the cash flow. The Company believes that their business model is difficult for competitors to replicate.

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How did the Just Dial Business model attract Reliance?

Recently Reliance Retail announced that it is all set to acquire a controlling stake in Just Dial with an $800-$900 million transaction. Presently the managing director of Just Dial VSS Mani and his family controls 35.5 percent of the company’s stake, which is valued at Rs. 2387.9 crore.

Reliance is planning to buy partially from Mani and partially by buying 26% of the company’s equity. If successful, this deal will make Reliance a 60% majority stakeholder in Just Dial, with Mani as the minority stakeholder.

But why is Reliance so keen to buy a major stake in Just Dial and infusing so much capital for the same? The answer lies in the business model of Just Dial.

Business Model of Just Dial

Started in 1996 by a first-generation entrepreneur VSS Mani, Just Dial is a significant player in the local search engine market segment with an average of 150 million unique quarterly visitors across different platforms such as websites, apps, and telephone hotlines.

To understand Just Dial’s business model, let us assume I own a repair shop and provide car repair services in a particular area. As a car repair service provider, I want my business to be visible to locals in the locality of my operation. So, I will pay some amount to Just Dial, and they will list my business on their platform. This will help me to get more leads from Just Dial users.

Now, if you live in my locality and need a car repair service, you can search on Just Dial about car repair services, and it will show me as one of the service providers. This will help me to convert you as one of my customers. 

In simple terms, Just Dial provides listing space to businesses on its platform in exchange for some amount of money. If a business provides some amount, it gets listed on Just Dial, and potential customers can reach out to the businesses by checking on Just Dial. The listing company’s major business strategies revolve around :

• Creating an extensive database of businesses.
• Garnering paid campaigns through the database.
• Increasing search users through marketing and brand building.
• Technological innovations.

Just Dial, which has been in the listing business for years now, has an extensive database of businesses through listings on their platform. The company has successfully converted the database entries into paid campaigns as businesses see value in getting listed. Just Dial has worked hard on its marketing and brand image, increasing its search users. As more users started using the listing services, businesses got leads.

Providing pure voice-based telephone services, Just Dial quickly migrated to a mix of voice and internet-based platforms with the dot com boom in India, which resulted in a steady rise in revenues with a 5-year CAGR of 10.1%.

What Makes the business model of Just Dial so attractive to investors?

Financial Stability : Just Dial follows a prepaid business model for its various paid subscription plans. Customers can either pay upfront for the entire tenure or through monthly advance payment plans. Owing to this policy, it enjoys negative working capital and no receivables. Thus, the Company has remained debt-free since its inception and enjoys healthy revenue visibility.

Pan-India presence : Just Dial has a Pan-India presence and derives about 69.7% of its revenues from the top 11 cities in India. It has stepped up efforts to enhance its reach in smaller towns and cities which are witnessing rapid growth in internet use.

Customized revenue model : Just Dial offers customized packages to customers based on their profiles. Packages at different price points are offered depending on the business of the advertiser, geographies they cater to, and type of listing plan opted for (premium or non-premium), among other criteria. To further provide flexibility Just Dial offers multiple payment plans (upfront or monthly) with options to pay digitally or via cheques.

Listing through transparency : The advertisers can choose between premium or non-premium packages. Premium advertisers get top positioning in category searches and hence have higher visibility. Nonpremium packages are listed in category searches in the order of contribution made by the advertiser vis-à-vis others.

Empowering businesses : Just Dial is a unique platform for its advertisers, who are largely MSMEs, to reach a vast pool of consumers at nominal costs with flexible payment options. The Company runs special, focused campaigns across India to benefit its advertisers. As of March 31, 2020, the Company had 536,236 active paid campaigns.

Strong ground force : The Company has 3,972 employees in telesales, 1,480 feet-on-street (marketing), 3,924 feet-on-street [Just Dial Ambassadors (JDAs), cold calling] sales force selling to SMEs. Its robust manpower network deployed across 250+ cities covers 11,000+ pin codes in India.

View this post on Instagram A post shared by Justdial (@jd_justdial)

Just Dial and the competition

In the last six months, the stock of Just Dial has appreciated 50.16%.

However, all is not well with Just Dial. The high numbers result from Just Dial’s sales strategy, which is persuading its customers to upgrade to paid services. Since this number is not static, it keeps on changing with time.

If the product cannot come up with new features, the users will not find much value in it and stop subscribing to paid services. This results in lead saturation of existing customers, making companies look for new leads and convert them into paying customers.

To prevent going obsolete, Just Dial decided to add more value to their existing customers, and in a bid to do so, they launched Search Plus and JD Omni. Search Plus allowed users to search for local businesses and allowed them to pay the businesses for the service through the platform.

On the other hand, JD Omni was a product focussed on SMEs to help them with inventory management, billing, and other related things. However, users didn’t subscribe to these add-ons much, so it didn’t work as expected. This made Just Dial return to its previous strategy of focussing on B2B services rather than entering the B2C market.

Just Dial, which was once a dominant player in the local search-based market, is now facing hard competition from highly specialized search-based companies who are focussing on a particular vertical and taking market space from Just Dial in that.

This includes Practo for doctor appointments, Urban Company for home improvement, Book My Show for ticketing, Zomato for food delivery, Paytm for payments, and Make My Trip for travel .

The pandemic added more woes for the company as SMEs stopped paying for listing due to cash crunch, and to deal with that, Just Dial started spending more on advertising. This resulted in a dip in revenue during the June quarter last year.

Reliance interest in Just Dial

Since the market space of Just Dial is becoming highly competitive, Reliance acquisition will give Just Dial a competitive edge and open avenues for growth. Just Dial is seeing this as a good opportunity to ease its burdens. But the question arises what is in the deal for Reliance. Why is it interested in infusing so much capital into the listing business?

Reliance itself has been working aggressively to onboard Kirana stores and provide them with various financial services such as inventory management, tax return filing services, and sourcing and procurement support, a concept similar to JD Mart and JD Omni.

Reliance’s strategy is to link these Kirana stores digitally, making a stronghold on B2B services which will become the backbone for their B2C business plans. It includes embedding its e-commerce app JioMart into WhatsApp, allowing 400 million users to order products and services from the messaging app .

Reliance will be leveraging Just Dial’s 25-year old search and listing database of ~30 Mn and the pan India network to accelerate its local commerce and payments play. This deal not only allows Reliance to acquire a strong listing business player at a reasonable price but also opens the doors of B2B market space. 

The acquisition will help boost the digital ecosystem for merchant partners of Reliance, through its JioMart Business Model. But how JioMart is revolutionizing the retail industry?

So, Reliance’s acquisition of Just Dial is a win-win game for both the players; at least, that’s what it looks like for now. We will see how it pans out in the future.

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I am a software engineer by profession and a product enthusiast who loves to analyze products and the strategies that they incorporate. I am a passionate reader and enjoy writing as leisure. I also like exploring and experimenting with new things and skills to become a better version of myself.

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Justdial achieves record user traffic and 247 crore operating revenue growth in Q1 FY 2024

J ustdial has observed an unprecedented surge in user traffic, with 17.04 crore unique users accessing its services. This growth has occurred alongside a substantial reduction in advertising expenditures. Justdial opted to allocate only a fraction of its pre-COVID budget towards advertising efforts. This is a noteworthy departure from the trend observed among startups and corporations, many of which are grappling with financial challenges in today's competitive e-commerce landscape.

For Q1 FY 2024, Justdial reported a robust 33 per cent increase in revenue, totalling 247 crores.

Central to Justdial's success is its comprehensive directory, featuring listings for approximately 3.8 crore businesses and accompanied by genuine customer reviews. This resource has become indispensable for modern users who rely heavily on online reviews and ratings to make informed decisions. The platform's user-friendly interface has also contributed to its popularity, simplifying the process of locating nearby businesses and essential services. A recent revamp of the mobile and desktop platforms has further enhanced user engagement and retention rates.

Justdial's success is further evidenced by its substantial subscriber base, which exceeds 5 lakh paid customers. These businesses benefit from increased visibility and a broader customer reach. The platform offers competitively priced annual subscription packages, making it an attractive and cost-effective option for business owners looking to enhance their online presence.

As part of its ongoing efforts to spotlight the growth of small and medium enterprises (SMEs), Justdial launched the 'Justdial ki kahaani, Customers ki Zubaani' campaign. This initiative aims to showcase the journeys of businesses that have thrived with Justdial's support. 

Commenting on the record-breaking traffic and growth seen in the last quarter, Chief Growth Officer of Justdial, Shwetank Dixit, said, “The remarkable milestone of over 17 crore users and highest-ever revenue of INR 247 crore is a testament to the trust bestowed upon us by our valued users and vendors alike. With a legacy spanning nearly three decades, our journey of continuous evolution and innovation enables Justdial to retain its position as India’s no. 1 local search engine.”

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[UPDATE]: Reliance Retail Ventures Limited (RRVL) has confirmed the acquisition of a controlling stake in JustDial Limited for Rs 3,497 crores. This allows RRVL to have 40.95% stake in JustDial. RRVL, the retail subsidiary of RIL, is also eyeing to buy another 26% stake in JustDial from public shareholders. The announcement would be made to acquire another 2.17 crore equity shares of JutsDial representing 26% stake soon. This will allow Reliance to have a majority stake holding of 66% in JustDial.

Reliance has put its weight behind VSS Mani – founder and current CEO of JusDial – who would continue to lead the growth of JustDial.

After the failed acquisition talk with TATA, JustDial is apparently all set to be acquired by Reliance. According to the latest media report , the acquisition of JustDial by Reliance could be announced within the next few days.

Mukesh Ambani, on the other hand, already started looking beyond Future Group, which is stuck in the legal crosshairs with Amazon. JustDial fits perfectly well in the long-term strategy of Mukesh Ambani to take Reliance, telecom to petrochemicals conglomerate, to new heights by leveraging on the huge database that JustDial – India’s oldest information search and listing company – has.

JustDial is expecting to evaluate the proposal in the next board meeting, which is scheduled for 16th July 2021. Sources have confirmed that the main agenda of the meeting is to approve the proposal, followed by an official announcement.

Reliance Acquires JustDial: Big Picture

• If Reliance acquires JustDial, then it could help the company to strengthen its local commerce business by leveraging on the database JustDial has been creating and managing for over 25 years.
• Reliance could acquire JustDial from its promotors in a $800 – $900 million deal.
• JustDial revenue in FY’21 decreased 32% to INR 824 crore.
• JustDial posted a net profit of INR 214 crore in FY’21.
• JustDial promotors are the biggest stakeholders in the company with 35.32% shares.
• JustDial has 30.4 million listings on its platform and a presence in 250+ cities in India. It also covers 11,000 pin codes.
• The growth in the listing has tanked in recent years due to the rise of startups who are pouring millions of dollars to acquire customers. The company is clocking just 5.5% CAGR in the listing, down from 30% YoY growth until 2015.
• JustDial reportedly has 129.1 million unique visitors in Q4 2021.
• Mobile phone accounts for 82% of the total traffic JustDial receives on its website.

Food For Thought

The flourishing startup ecosystem has emerged as the biggest challenge for JustDial in recent years. Banking upon investors money, startups are spending millions of dollars in reaching prospective customers, which has eventually reduced people’s needs and dependency on merchant search platforms like JustDial.

Reliance has been aggressively promoting JioMart to acquire a sizeable share of the retail e-commerce market of India. The company is working closely with Facebook to integrate its retail offerings with WhatsApp. This will allow 400 million users of WhatsApp in India to order from JioMart directly from WhatsApp.

The acquisition of JutsDial will help Reliance to capture the biggest chunk of the retail e-commerce market in India at a much faster rate. There is no one other than Reliance who can make the most of the unparalleled access to billions of information that JutDial has.

• acquisition
• Reliance Retail Ventures Limited

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• Tofler explains

JustDial Business Model: How Did JustDial Become Successful?

“JustDial app se pucho” has emerged as the primary tagline for JustDial , the leading local search platform in India. This catchy phrase has gained immense popularity throughout the country, appearing on billboards, social media, and even in movie theatres. But have you ever wondered how JustDial became such a household name? Let’s delve into the remarkable journey of this company, which started from humble beginnings and eventually became one of India’s top classified websites.

Founded by V.V.S Mani, a former employee of the yellow pages, JustDial introduced its groundbreaking idea in 1987. Today, the company boasts a turnover of over 128.8 Million and receives a staggering daily call count of 1.9 Million, along with 7.22 million daily page views. With offices in Ahmedabad, Chandigarh, Hyderabad, Bangalore, and other major cities in India, JustDial has also expanded its services to Canada, UK, UAE, and USA.

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One of the key factors behind JustDial’s success lies in its unique business model. Unlike many other search engines, JustDial allows businesses, websites, and service providers of all kinds to list their services for FREE on their platform. In return, JustDial charges a nominal fee of INR 2000 per month and provides the contact details of users seeking those specific services. This win-win approach has propelled JustDial to great heights, enabling it to establish itself as a prominent player in the industry.

Such remarkable success led JustDial to collaborate with one of India’s iconic actors, Amitabh Bachchan, who served as their brand ambassador for a significant period. Presently, JustDial has the talented actor Ranveer Singh as their brand ambassador, further enhancing their brand presence.

History Of JustDial

In 1994, JustDial was registered as a company, starting out in a rented garage with a merge investment of ₹50,000 and a small team of 5 to 6 employees. Prior to JustDial, founder V.S.S Mani had been involved in various entrepreneurial ventures, including a company called Ask me. However, Ask me faced difficulties due to the limited penetration of telephones at the time.

Despite the catchy name of Ask me, the lack of a memorable and user-friendly telephone number hindered its success. Eventually, the business failed. Undeterred, Mani ventured into the wedding planning industry, where he achieved a profit margin of ₹2.5 lakhs.

Still wanting to improve his line of work and the existing business model, Mani decided to pursue his original idea of creating a platform for local search, leading to the birth of JustDial. Reflecting on his previous mistakes, he acknowledged the valuable lessons he had learned.

With renewed determination, Mani aimed to establish JustDial as a leader in the local search domain. This time, he prioritized securing a memorable telephone number, understanding the significance of such a choice based on the lessons learned from Ask me. Ultimately, he succeeded in obtaining a number that was 10 times the value of the number 8.

Business Model of JustDial

JustDial’s remarkable success can be attributed to its unique business model, which has led to negative working capital and consistently increasing revenue. Let’s explore how JustDial achieved such widespread outreach.

Firstly, the founders secured a memorable telephone number, combining it with the name JustDial to enhance brand recognition and ease of remembrance.

To build their extensive database, the JustDial team personally approached local businesses door-to-door, diligently populating their listings.

Generating user adoption proved challenging due to limited funds for advertising. To overcome this, JustDial encouraged both clients and employees to utilise the platform’s services. They also focused on forging strong connections with diverse local businesses, enabling users to easily find small service providers such as carpenters, plumbers, and mobile shops. This word-of-mouth approach significantly increased JustDial’s popularity and user base.

Furthermore, JustDial remained committed to supporting small and medium-sized enterprises, solidifying its position as a helpful resource for such organisations.

Revenue Model of JustDial

JustDial was committed to achieving significant online visibility and offered a comprehensive package that included payment solutions, customised websites, mobile sites, and mobile apps. This value-added offering was particularly appealing to companies with an MSME registration.

By implementing an efficient revenue model, JustDial managed to minimise operational costs. Given the financial constraints they faced, the management needed help to afford expensive advertising campaigns. As a result, they encouraged their own employees to utilise JustDial’s services. The affordable pricing of the products enabled JustDial to quickly gain market traction, leading to additional revenue each month.

This newfound revenue allowed them to allocate funds towards hiring more sales staff, further expanding their business. Additionally, clients demonstrated trust in the brand and were willing to pay in advance for the services provided by JustDial.

Key Reasons for JustDial Success

Some key factors contributing to JustDial’s success include:

• Established market presence over an extended period.
• Adaptation of the business model to meet evolving needs, transitioning from telephone-based to web-based and mobile app-based services.
• Prompt response to user inquiries.
• Consistent delivery of high-quality user experience.
• Effective and profitable revenue model.
• Skilled marketing and management divisions with extensive expertise.

In summary, JustDial’s success can be attributed to its enduring presence in the search market, flexible business model, responsive customer service, commitment to user satisfaction, revenue-generating strategies, and a talented team of marketing and management professionals.

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Reliance in talks to buy Justdial for $800-900 mn

Justdial managing director vss mani and family control 35.5 per cent of the company that is currently valued at rs 2,387.9 crore.

• Updated Jul 15, 2021, 1:08 PM IST

Mukesh Ambani-helmed Reliance Industries is in advanced negotiations to buy Justdial from its founding promoters for $800-900 million. Once complete, the deal will allow Reliance access to the 25-year-old listings company’s merchant database. 

A formal announcement is expected on July 16. The listings company has called for a board meeting on the day, as mentioned in a report in The Economic Times.

Justdial is the market leader in the local search engine segment with 150 million average quarterly unique visitors. The company operates across platforms like mobile, apps, website and a telephone hotline with the number 8888888888.

Justdial Managing Director VSS Mani and family control 35.5 per cent of the company that is currently valued at Rs 2,387.9 crore.

Reliance aims to buy partially from Mani and put up an open offer for additional 26 per cent of the company’s equity. At current share prices, it could lead to a payout of Rs 4,102 crore. According to the daily, if the open offer is fully subscribed to then Reliance will own over 60 per cent stake, and Mani will serve as a junior partner.

Reliance is also expected to infuse capital into the listings company.

Both sides have been engaging in talks since April. Shardul Amarchand Mangaldas and Co, Cyril Amarchand Mangaldas and Goldman Sachs are the advisors for this deal.

There were reports earlier that Justdial engaged in talks with Tata Sons for an investment opportunity in Tata Digital’s super app. However, those talks seem to have ended abruptly.

Also read: Reliance Jio adds 47.56 lakh subscribers in April; Airtel gains, Vi loses customers Also read: Reliance in talks with Flex, Karbonn phone makers for JioPhone Next 

• #Reliance Industries
• #Reliance to buy Justdial
• #Reliance Justdial deal. Justdial JD
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Unveiling India's Dynamic Search Landscape in 2023 A Comprehensive Analysis by Justdial

New Delhi, Delhi, India (NewsVoir) • Hobby Classes, Schools, Restaurants & Hotels lead top 50 searches nationwide • Tier I cities accounted for 45% of the nation's searches for various hobby classes • Schools witnessed a surge in March-April-May, comprising 40% of the annual searches Justdial, a prominent digital platform, recently released a comprehensive report highlighting the intriguing search habits of Indians. The report unveils diverse interests shaping the dynamic market landscape across big and small cities in India. This in-depth exploration provides a unique insight into the diverse needs and preferences of the Indian population, as reflected in their online searches. Schools, Restaurants, Hospitals, Beauty Parlours, and PG Accommodation Services emerge as highly searched categories, underscoring the country's focus on educational institutions, dining options, healthcare services, beauty services, and accommodation. Digitization is narrowing the gap between big cities and small towns, with searches in smaller towns being twice that of big cities. Tier II and III cities contribute to 63% of the searches, indicating consistent search activity in smaller towns and cities, as compared to 2022. In the education sector, the report suggests that educational institutions, especially colleges, should strategize during peak search months (May to August) to maximize visibility and engagement. Temporal trends in searches for schools and libraries suggest tailored marketing efforts aligned with admission processes and examination seasons. The travel and hospitality sectors show a notable shift in demand, with Tier II & III cities contributing 66% searches in this sector. This signals opportunities for hotels and restaurants to expand beyond traditional urban markets. The recreation sector exhibits a balanced distribution, with both Tier I and Tier II cities significantly contributing to searches for hobby classes. This suggests a substantial interest in hobby classes across both urban tiers. The variety of hobby classes searched for, including swimming, dance, tailoring, cricket coaching, Zumba, and music classes, indicates a diverse range of interests and preferences among individuals seeking recreational activities. Mumbai, Delhi, and Chennai emerged as the top three cities in searches for hobby classes, showcasing the substantial interest and engagement in recreational activities in these metropolitan areas. In healthcare, top searched categories like Hospitals, Dermatologists, and Dentists collectively contribute to 5% of Pan India searches. Temporal trends in searches highlight the importance of seasonal considerations for healthcare providers, with peak searches in March and May. The Wellness and Beauty sector witnessed a nearly 10% increase in searches compared to 2022, reflecting a growing awareness and inclination towards self-care in India. Businesses are encouraged to understand and cater to specific preferences in different regions to capitalize on the rising demand. The report recommends businesses tailor their offerings to meet the unique demands of each tier and vertical, considering diverse market dynamics, tier-wise growth opportunities, digital engagement, and seasonal adaptation. Justdial emphasizes the importance of adapting services, promotions, and pricing strategies based on temporal factors and local preferences to thrive in the evolving Indian market. This comprehensive report not only identifies common trends but also illuminates the unique characteristics and preferences across different city tiers, providing businesses with unparalleled insights to tailor their offerings. By aligning products and services with these trends, businesses can effectively cater to the distinct needs of each tier, fostering growth and enhanced consumer engagement. Commenting on the 2023 annual search report, Mr. Shwetank Dixit, Chief Growth Officer, Justdial, said, “Every year, Justdial endeavors to provide an insightful glimpse into the ever-evolving search trends shaping India's service landscape. We remain committed to connecting individuals with their specific needs, be it education, housing, or personal preferences, reaffirming our role in shaping India's evolving search landscape.” For more in-depth analysis, please refer to the report. Metro Cities: Search trends across Delhi/NCR, Mumbai, Kolkata, Chennai, Bengaluru, Pune, Hyderabad, and Ahmedabad. Small Towns: Search trends across India's 1200 smaller towns and cities. About Just Dial Limited Just Dial Limited provides local search related services to users in India through multiple platforms such as Desktop/PC website (www.justdial.com), mobile site (t.justdial.com), mobile apps (Android & iOS), over the telephone (Voice, pan India number 88888-88888) and text (SMS). Justdial’s latest version of JD App, is an All-in-One App, replete with features like Map-aided Search, Live TV, Videos, Stock quotes, etc. to make the life of the consumer infinitely smoother & more engaging. The Company has recently launched its B2B marketplace platform, JD Mart. JD Mart platform, available at www.jdmart.com and via apps on Play Store and App Store, is aimed at enabling millions of India’s manufacturers, distributors, wholesalers, retailers to become internet-ready in post-COVID era, get new customers and sell their products online. The platform offers digital product catalogues to businesses and aims at digitalising India’s businesses, especially MSMEs, across categories. Buyers can discover quality vendors offering a wide selection of products to choose from, spread across millions of categories to suit all B2B needs. Justdial has also initiated transaction-oriented services for its users. These services aim at making several day-to-day tasks conveniently actionable and accessible to users from one App. With this step, Justdial is transitioning from being purely a provider of local search and related information to being a direct/ indirect enabler of such transactions. Justdial has also recently launched an end-to-end business management solution for SMEs, through which it intends to transition thousands of SMEs to efficiently run business online and have their adequate online presence via their own website, mobile site. Apart from this, Justdial has also launched JD Pay, a unique solution for quick digital payments for its users and vendors. (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR PWR

(This story has not been edited by THE WEEK and is auto-generated from PTI)

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Reliance Retail acquires controlling stake in Just Dial for $469 million

Reliance Retail said on Friday it has acquired a controlling stake in 25-year-old Indian search and discovery firm Just Dial for $469 million.

The Indian retail giant, which leads the market, said it has acquired a 41% stake in the publicly listed Just Dial for $469 million and will make an open offer to acquire an additional 26% stake later. VSS Mani, founder and chief executive of Just Dial, will continue his leadership role at the firm, both the companies said in a joint press release.

Just Dial offers local search and e-commerce services through its website, mobile apps and telephone line. Users in India can inquire about local plumbers, details for hotels and housekeeping services among other things by just dialing 8888888888.

The decades-old firm — which prior to entering the public markets raised about $102 million from Tiger Global, Elevation Capital, Sequoia Capital India, Sapphire Ventures and Nalanda Capital —  has built a massive database whose results are so useful and relevant that they often populate top search queries on Google and other search engines.

The service is free for users, but Just Dial charges businesses and individual service providers a fee for listing.

Screengrab of Just Dial website.

“Nearly 25 years ago, we had a vision to build a connected single platform dedicated to providing fast, free, reliable and comprehensive information to our users and connect buyers to sellers,” said Mani.

“Our vision has evolved to not only provide search and discovery but drive commerce across merchants through our B2B platform and enable further consumer to merchant commerce given our platform engagement. Our strategic partnership with Reliance enables us to realize this vision and transform the business going forward.”

Just Dial’s acquisition is one of many Reliance Industries — or its subsidiaries including telecom giant Jio Platforms and Reliance Retail that together raised over $27 billion last year from marquee investors including Facebook and Google — has made in recent quarters.

In August, Reliance acquired a 60% stake in pharma marketplace Netmeds’ parent firm Vitalic for about $83.2 million . In November, it acquired online furniture startup Urban Ladder for $24.4 million in a distress sale.

Last year, Reliance Retail also  entered into a $3.4 billion deal with Future Group to buy several of India’s second-largest retail chain’s businesses. The deal, which has yet to close, is at the centre of lawsuits with American e-commerce giant Amazon .

“Reliance is excited to partner with Justdial and Mr. VSS Mani, a first-generation entrepreneur, who has created a strong business through his business acumen and perseverance,” said Isha Ambani, director of Reliance Retail, in a statement.

“The investment in Just Dial underlines our commitment to New Commerce by further boosting the digital ecosystem for millions of our partner merchants, micro, small and medium enterprises. We look forward to working with the highly experienced management team of Just Dial as we further expand the business going forward.”

A reading guide to Reliance Jio, the most important tech company in the world

• March 27, 2023

Decoding the Business Model of Justdial. How does Justdial Make Money?

In this blog post, let’s decode the business model of justdial and learn about how justdial makes money..

In today’s technology-driven era, Justdial has become a one-stop solution for numerous customers seeking information about various products and services. With its extensive database, Justdial caters to a vast range of industries, connecting millions of users with local businesses. This blog post delves into the fascinating story of Justdial and examines its business model using Alexander Osterwalder’s Business Model Canvas. We will start by introducing the company, its founders, and its origin story, followed by an in-depth analysis of its unique business model.

Justdial: The Company and its Founders

Justdial, an Indian-based search services company, was founded in 1996 by V.S.S Mani. Having graduated with a Bachelor of Commerce degree, Mani’s entrepreneurial journey began with a vision to provide comprehensive information about products and services to consumers. With limited resources, Mani persevered and laid the foundation for Justdial, which has now become an integral part of the lives of many Indians.

Justdial started as a telephone-based local search service, allowing people to call and inquire about various businesses in their vicinity. With the advent of the internet, Justdial transitioned to an online platform, making its services accessible to a broader audience. Today, Justdial offers a wide array of services through its website, mobile app, and telephone services, ranging from local search to e-commerce, and catering to a diverse user base.

The Origin Story: Why and How Justdial Was Started

V.S.S Mani’s journey towards founding Justdial began with an incident in the early 1990s. While working for a yellow pages company, Mani noticed a critical gap in the market. Traditional yellow pages directories were cumbersome and not user-friendly, limiting their practicality for consumers. Mani envisioned a platform that could provide users with the information they needed instantly and efficiently.

Despite facing financial constraints and initial skepticism, Mani’s determination never wavered. He set up a small office with just four employees, and Justdial was born. Initially, the company focused solely on offering local search services through a dedicated telephone line. Mani’s perseverance paid off, and the company steadily gained traction among users.

As the internet revolution unfolded, Mani recognized the potential for Justdial to expand its services. The company transformed its business model, transitioning from a telephone-based service to an online platform. Justdial’s website and mobile app enabled the company to reach millions of users and offer a wide range of services.

Dissecting Justdial’s Business Model using Alexander Osterwalder’s Business Model Canvas

Alexander Osterwalder’s Business Model Canvas is a strategic management tool that helps businesses visualize, design, and innovate their business models. The canvas comprises nine building blocks that cover various aspects of a business model, including customer segments, value proposition, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure. In the following sections, we will analyze Justdial’s business model using this framework.

• Customer Segments

Justdial caters to two primary customer segments:

a. Users: The company primarily targets individuals seeking information about various products and services in their locality. Users can access Justdial’s platform through various channels, such as its website, mobile app, or telephone services.

b. Businesses: Justdial’s second customer segment comprises local businesses that want to promote their products and services. By listing their businesses on Justdial’s platform, these businesses can increase their visibility and attract potential customers.

• Value Proposition

Justdial’s value proposition revolves around providing comprehensive, reliable, and easily accessible information about products and services to its users. The company offers several key benefits:

a. Convenience: Justdial offers a user-friendly interface across multiple platforms, making it easy for users to find the information they need quickly and efficiently.

b. Comprehensive Database: Justdial’s extensive database covers a wide range of industries, ensuring that users can find relevant information for almost any product or service they are looking for.

c. Personalization: Justdial’s platform offers personalized recommendations based on user preferences and search history, enhancing the overall user experience.

d. Multiple Channels: Users can access Justdial’s services through various channels, including its website, mobile app, and telephone services, catering to a diverse user base.

e. Free Access: Justdial offers free access to its platform for users, making its services accessible to a broader audience.

For businesses, Justdial’s value proposition lies in increased visibility, customer engagement, and potential sales growth.

Justdial reaches its customers through multiple channels:

a. Website: The company’s primary channel is its website, which offers a user-friendly interface and allows users to search for information on various products and services.

b. Mobile App: Justdial’s mobile app provides users with the same features as its website, with the added convenience of accessibility on-the-go.

c. Telephone Services: For users who prefer traditional methods or lack internet access, Justdial provides telephone-based search services.

• Customer Relationships

Justdial focuses on maintaining strong customer relationships through:

a. User Support: The company offers customer support through multiple channels, including email, phone, and social media, ensuring prompt assistance.

b. Customer Feedback: Justdial encourages users to provide feedback and ratings on businesses, which helps maintain the platform’s reliability and credibility.

c. Frequent Updates: The company continually updates its database, ensuring that users always have access to the latest information.

• Revenue Streams

Justdial’s primary revenue streams include:

a. Advertising: Local businesses can pay for premium listings and advertisements on Justdial’s platform to increase their visibility and attract potential customers.

b. Lead Generation: Justdial generates revenue by providing businesses with qualified leads, connecting them with users interested in their products or services.

c. E-commerce: Justdial offers e-commerce services, enabling users to purchase products and services directly through its platform. The company earns a commission on each transaction.

• Key Resources

Justdial’s key resources include:

a. Database: The company’s extensive database is a critical resource, providing comprehensive information on various products and services.

b. Technology Infrastructure: Justdial’s website, mobile app, and telephone services require robust technology infrastructure to ensure seamless operations.

c. Skilled Workforce: Justdial’s team of skilled professionals plays a vital role in maintaining and updating the platform, as well as providing customer support.

• Key Activities

Justdial’s key activities include:

a. Database Management: The company continually updates its database to ensure users have access to the latest information.

b. Platform Development: Justdial focuses on enhancing its platform through technological advancements, ensuring an optimal user experience.

c. Marketing and Promotion: The company engages in marketing activities to promote its services and attract new users and businesses.

• Key Partnerships

Justdial partners with various stakeholders, including:

a. Local Businesses: Justdial collaborates with local businesses that list their products and services on its platform, generating revenue through advertisements and lead generation.

b. Payment Gateways: For its e-commerce services, Justdial partners with payment gateways to facilitate secure transactions.

c. Technology Providers: Justdial collaborates with technology providers to maintain and enhance its platform, ensuring seamless user experience and efficient operations.

d. Data Providers: Justdial partners with data providers to acquire accurate and up-to-date information on various products and services, ensuring the reliability of its database.

• Cost Structure

Justdial’s primary costs include:

a. Technology Infrastructure: The company incurs costs related to the maintenance and development of its website, mobile app, and telephone services.

b. Employee Salaries: Justdial’s skilled workforce is an essential component of its operations, and the company incurs costs related to salaries and benefits.

c. Marketing and Promotion: The company invests in marketing and promotional activities to attract new users and businesses, contributing to its cost structure.

d. Data Acquisition: Justdial incurs costs related to acquiring and updating its database, ensuring comprehensive and reliable information for users.

Justdial’s success story is a testament to the power of perseverance and innovation. The company’s founder, V.S.S Mani, envisioned a platform that could provide users with instant access to comprehensive information about various products and services. Despite numerous challenges, Mani’s determination led to the establishment of Justdial, which has now become an indispensable tool for millions of users in India.

Using Alexander Osterwalder’s Business Model Canvas, we have dissected Justdial’s unique business model, which revolves around providing convenience, reliability, and accessibility to its users. The company’s focus on maintaining strong customer relationships, leveraging multiple channels, and offering a diverse range of services has allowed Justdial to carve a niche in the market.

As technology continues to evolve, Justdial’s adaptability and commitment to innovation will be critical in maintaining its position as a market leader. By understanding its business model and continuously refining its strategies, Justdial can ensure sustainable growth and continue to serve as a valuable resource for users and businesses alike.

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