XSTOK

Last updated
XSTOK
Company type Privately held company
Industry Textile
Founded2015
FounderSanjiv Khandelwal, Mihir Shah
Headquarters
Mumbai
,
India
Services B2B Online marketplace
Website www.xstok.com

weXSTOK is an online portal in India, based out of Mumbai, with a dynamic pricing business model for the B2B Textile marketplaces. [1] The platform facilitates buying and selling of ready and excess goods in the textile industry, via its e-commerce mobile-first interface. [2] [3] [4]

Contents

History

XSTOK was founded by Sanjiv Khandelwal and Mihir Shah. Prior to XSTOK, Khandelwal has worked in the B2B and e-auction segments whereas Shah formerly worked with Intel and Bank of America Merrill Lynch. Providing the buyers and sellers with a marketplace for curated, hard-to-find and surplus stocks of fabrics, home textiles, apparels and yarns, at transparent prices, direct from the mills, at a click of a button, is the main concept behind the business. [5] [6] [7] [8]

XSTOK was launched in 2015 as a mobile dynamic pricing marketplace, which received six hundred registrations overnight with its inception. This was first of its kind online auction based platform for the textile market. [9] The business was conceived with the idea of making the textile trade more digitalized and making the mobile trade possible, for all size of businesses. [10] [11] It does not sell any products directly, but instead allows third party sellers to sell their products for an initial registration fee and a transaction fee on each successful transaction. [12] [13] Brands including Arvind Mills, Bombay Dyeing, Welspun, Donear, Grasim, Nahar Industries, Banswara, Trident, Mafatlal, BVM Sintex and Indo Count, to name a few, have associated themselves with XSTOK. According to a news article in The Economic Times , within six months of its launch, over 5,000 buyers had registered on the portal and over 150 suppliers had their textile products listed on this portal. [14] [15] The company later reported to have queries from East African countries and gained attention with its first round of funding from a group of marquis investors. [16] The business also has a web presence, but the founders promoted the company primarily as a specialized mobile-first marketplace, with their apps for Android and iOS. [17] [18]

Funding

The company received 3 crore in seed funding to expand its market. [19] The seed round was backed by investors, including Private Angel Investors, Anupam Mittal, Jeetu Panjabi, Manish Chokshi, Vineet Suchanti, Oliphans Capital [20] and a group of professionals heading consulting, stock broking and logistics companies. [21] [22] [23] [24] [25]

Related Research Articles

PayMate is a business-to-business (B2B) digital and financial services company headquartered in Mumbai.

Flipkart Private Limited is an Indian e-commerce company, headquartered in Bangalore, and incorporated in Singapore as a private limited company. The company initially focused on online book sales before expanding into other product categories such as consumer electronics, fashion, home essentials, groceries, and lifestyle products.

India has an Internet user base of about 690.0 million as of November 2023, about 40% of the population. Despite being the second-largest user base in world, only behind China, the penetration of e-commerce is low compared to markets like the United States, or France, but is growing, adding around 6 million new entrants every month. The industry consensus is that growth is at an inflection point.

<span class="mw-page-title-main">Payoneer</span> Financial services company

Payoneer Global Inc. is an American financial services company that provides online money transfer, digital payment services and provides customers with working capital.

<span class="mw-page-title-main">Udemy</span> American online learning platform

Udemy, Inc. is an education technology company, founded in May 2010 by Eren Bali, Gagan Biyani, and Oktay Caglar. It is based in San Francisco, California, United States, with hubs in Denver, Colorado; Dublin, Ireland; Austin, Texas; Melbourne, Australia; İstanbul, Turkey, and Gurgaon, India.

<span class="mw-page-title-main">Myntra</span> Indian fashion & lifestyle products company

Myntra is an Indian fashion e-commerce company headquartered in Bengaluru, Karnataka, India. The company was founded in 2007-2008 to sell personalized gift items. In May 2014, Myntra.com was acquired by Flipkart.

Snapdeal is an Indian e-commerce company, based in New Delhi, India. It was founded in February 2010 by Kunal Bahl and Rohit Bansal.

Purch Group, Inc. was a New York City-based digital media company. Originally established in 2003 as TechMedia Network, Inc., it was positioned as a "portfolio of brands and products focused on purchasing decisions"—consisting primarily of websites focusing on reviews of consumer electronics, positioned to marketers as outlets to "directly engage with buyers in the right place, at the right time".

<span class="mw-page-title-main">IndiaMART</span> Indian e-commerce company

IndiaMART InterMESH Ltd is India's largest B2B online marketplace, connecting buyers and suppliers. It is headquartered in Noida and currently hosts 194 million registered buyers and 7.9 million sellers, listed on its marketplace. It has over 108 million products listed in over 98,000 product categories in across 56 industry groups.

<span class="mw-page-title-main">Paytm</span> Indian financial technology company

Paytm is an Indian multinational financial technology company, that specializes in digital payments and financial services, based in Noida, India. Paytm was founded in 2010 by Vijay Shekhar Sharma under One97 Communications. The company offers mobile payment services to consumers and enables merchants to receive payments through QR code payment, Soundbox, Android-based-payment terminal, and online payment gateway. In partnership with financial institutions, Paytm also offers financial services such as microcredit and buy now, pay later to its consumers and merchants.

Carousell is a Singaporean smartphone and web-based consumer to consumer and business to consumer marketplace buying and selling new and secondhand goods. Headquartered in Singapore, it also operates in Malaysia, Indonesia, the Philippines, Taiwan, Hong Kong, Macau, Australia, New Zealand and Canada. Carousell is available on both iOS and Android devices.

CarTrade.com is an Indian online auto classifieds platform serving as a marketplace for users interested in buying and selling new and used vehicles. Headquartered in Mumbai, the company also owns other vehicle trading platforms such as CarWale, BikeWale and CarTradeExchange, the omnichannel vehicle auction company Shriram Automall, the vehicle inspection company Adroit Auto, and the classifieds portal OLX India.

Dinesh Agarwal is an Indian entrepreneur, founder and CEO of IndiaMART, an online B2B marketplace in India.

Craftsvilla is an Indian e-commerce portal that sells ethnic apparel, footwear, fashion accessories, beauty products, handcrafted home accessories and other ethnic fashion and lifestyle products. The company is headquartered in Mumbai, Maharashtra.

<span class="mw-page-title-main">JOOR</span> Data analytics company

JOOR is a SaaS company that built an online B2B Marketplace connecting brands and retailers to streamline their wholesale business. JOOR is also a data analytics company.

Oxigen Services is an Indian fintech company. It is involved in the micropayment of services and remittances in real time.

Dailyhunt is an Indian content and news aggregator application based in Bangalore, India that provides local language content in 14 Indian languages from multiple content providers.

<span class="mw-page-title-main">Liquidity Services</span> E-commerce marketplace operator

Liquidity Services (NASDAQ:LQDT) operates a network of e-commerce marketplaces.

Zilingo is a technology, application and commerce platform which was founded in 2015 by Ankiti Bose and Dhruv Kapoor, and has operations spanning Indonesia, Hong Kong, Thailand, Philippines, Australia and the United States. In January 2023, Bloomberg reported that the company was preparing to liquidate.

Livspace, is a home interior and renovation company headquartered in Singapore. It provides interior design and renovation services in Singapore and India. The company was founded in 2014 by Anuj Srivastava and Ramakant Sharma and has raised funding of $450 million.

References

  1. ↑ Taslima Khan (11 March 2016). "XSTOK plans to capture 10% market share in next 2-3 years". Economic Times. Archived from the original on April 2, 2016. Retrieved 19 May 2016.
  2. ↑ Anand J & Shalina Pillai (8 May 2016). "The wholesale mandi has gone online". The Times Of India . Retrieved 19 May 2016.
  3. ↑ Shita Russell (18 September 2015). "Indian B2B online marketplace XSTOK bags US$455K funding". 27. Retrieved 19 May 2016.
  4. ↑ "XSTOK, B2B-based fully transactional marketplace for textile industry". Indian Textile Magazine. 28 July 2015. Retrieved 19 May 2016.
  5. ↑ "Xstok looks to break-even this fiscal, ramp up presence". India Today. March 27, 2016. Retrieved 19 May 2016.
  6. ↑ "The Idea". Newborn Startups. Retrieved 19 May 2016.
  7. ↑ "XSTOK launches Sample Express". India Infoline. 27 March 2016. Retrieved 19 May 2016.
  8. ↑ "India: Restitching Surplus Stock: Online B2B platform XSTOK auctions surplus textiles to small dealers, garment makers". All of textiles. Retrieved 19 May 2016.
  9. ↑ "Textile retailer XSTOK.com to start 'XSTOK B2B Badla Business' Roadshow". Apparel Resources. 9 February 2016. Retrieved 19 May 2016.
  10. ↑ "XSTOK A revolutionary marketplace for the textile industry launched". Yarns and Fibers. 6 November 2015. Retrieved 19 May 2016.
  11. ↑ "Xstok Looks To Break-Even This Fiscal". Indian Apparel. 28 March 2016. Retrieved 19 May 2016.
  12. ↑ "XSTOK.com, a B2B Online Marketplace, Announces the Launch of its 'B2B- Badla Business- Kya aap badle?', Offline Engagement Program for the Textile Stalwarts". Business Wire India. 9 February 2016. Retrieved 19 May 2016.
  13. ↑ "XSTOK announces pre-launch of www.xstok.com". 2016-06-10. Archived from the original on 10 June 2016. Retrieved 2022-02-09.
  14. ↑ "Xstok.com completes 300 auctions to sell surplus textile goods". The Hindu Business Line. 17 February 2016. Retrieved 19 May 2016.
  15. ↑ "Leading textiles mills join online sale of extra stocks". Business Standard. 22 February 2016. Retrieved 19 May 2016.
  16. ↑ "XSTOK.com, a B2B Online Marketplace, Announces the Launch of its 'B2B- Badla Business- Kya aap badle?', Offline Engagement Program for the Textile Stalwarts". telegraph India. 9 February 2016. Retrieved 19 May 2016.
  17. ↑ "XSTOK raises Rs 3 cr from Oilphans Capital, others". Business Standard. 17 September 2015. Retrieved 19 May 2016.
  18. ↑ "Xstok looks to break-even this fiscal, ramp up presence". Zee News. 27 March 2016. Retrieved 19 May 2016.
  19. ↑ Akanksha Pahwa (17 September 2015). "Inc 42". B2B Mobile Only Auction Platform For Textiles, XSTOK, Raises $450 K From Oliphans Capital. Retrieved 19 May 2016.
  20. ↑ "Online auction platform XSTOK raises Rs 3 crore in early-stage fund from Oliphans Capital". Economic Times. 17 September 2015. Archived from the original on October 4, 2015. Retrieved 19 May 2016.
  21. ↑ Sriram Sharma (18 September 2015). "India Funding Roundup: Bueno, Plabro, WedMeGood, XSTOK, Briston Technomach". Gadgets 360. Retrieved 19 May 2016.
  22. ↑ Disha Sharma (17 September 2015). "B2B auction site for textiles XSTOK raises $452K". VCCircle . Retrieved 19 May 2016.
  23. ↑ Jeet Suthar. "Textile Auction Platform XSTOK Secures $450K From Oliphans Capital". The Tech Portal. Retrieved 19 May 2016.
  24. ↑ Shivangi Singh (21 September 2015). "Funding roundup: Briston Technomach, XSTOK & Bueno". Media Nama. Retrieved 19 May 2016.
  25. ↑ Shweta Singh (18 September 2015). "B2B Marketplace XSTOK set to leverage on potential, raises funds". Indianonlineseller.com. Retrieved 19 May 2016.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.