FRINZA was incorporated on June 12, 2018 and its website went live and fully functional in January, 2019. In less than 16 months, this spirited start-up has witnessed exponential growth by establishing a same-day delivery network in more than 550 cities of India and most cities of the USA, UK, UAE, Canada, and Australia. This is a rare feat that most startups generally take years to reach.
“The traditional e-commerce model with which FRINZA started initially was laying the launch-pad for the giant AI and ML-based annual recurring subscription model which will be rolled out soon. It is going to disrupt the e-commerce gifting industry and redefine the way the world gifts” says Praveen Sigh Rajput, Founder & CEO.
Pandemic shook various businesses to their core, but FRINZA is one of those rare enterprises that have prospered during these times. The company works on the concept of cloud kitchens and hence did not see much disturbance in their business. They made sure that in these testing times, all their staff was monetarily compensated and also got their medical insurance done. As a result of this during this lockdown period (March-April) when most businesses were finding it hard to make their ends meet, the company has observed the month on month growth of 103.5%.
“There is one curve we have to flatten and then there is another that we have to stay ahead of”, says Praveen
With the entire world looking on the internet for their solutions, FRINZA decided to take this as an opportunity to diversify its category and product portfolio by exploring digital or e-gifting options. This includes personalized Gift cards, personalized poems, kindle books, personalized birthday wishes by Favourite celebrities/ influencers, customized wishes website and they are regularly updating this list as per the latest trend, to be the ideal gifting destination.
Talking about the market size, based on the numbers from Statista, FRINZA has onboarding estimated that the serviceable obtainable market(SOM) is worth $25.03 billion per year and the Total Addressable Market (TAM) stands around $42.6 billion per year for FRINZA’s annual annual-recurring-subscription model.
The company’s aim for the future is to expand its reach in more than 15 countries by 2021 and add at least 25 plus category-subcategory with 300K gift product listing by 5k vendors worldwide to provide meaningful gifting options.
“FRINZA is here, not only to deliver to gifts but to dominate and disrupt the industry. We are going to change the way the word ‘gift’ is currently perceived”, remarked Praveen, who also aspires to make FRINZA the next Indian Global Consumer Brand with a billion-dollar valuation soon.
About FRINZA:
FRINZA™ is the World’s 1st Artificial Intelligence (AI) & Machine learning (ML) oriented annual-recurring-Subscription-model-based one-stop-Gifting-Solution E-commerce company. FRINZA is a rapidly growing online gifting brand, providing premium quality gifting solutions from our exquisite collection of souvenirs, cherry-picked flowers, luscious cakes, scrumptious chocolates, tender plants, mesmerizing books and a wide array of personalized products planned with a befitting sense of elegance for every occasion.
Source: Story.KISSPR.com
Release ID: 13747
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