Company Profile is an initiative by ListMyStartUp to publish verified information on different startups and organizations. The content in this post has been approved by Faasos.
Have you ever fancied yourself as a restaurant owner at some time in your life? Don’t you think how complicated would it be to start and run a restaurant chain? Right from the choice of cuisine to the business model, and the ultimate presentation, how difficult it can be to run your chain when already hundreds of well-established brands are there in the market. When the whole world out there is having a good time, have you ever thought about how struggling it can be to establish you and your brand? Well, the answer to all these and many other questions, Faasos emerged. Founded back in 2004, Faasos was incorporated in 2011, as an Indian "food on demand" service company by Jaydeep Barman and Kallol Banerjee.
Faasos is a brand owned by the online restaurant unicorn Rebel Foods. The company currently operates ghost kitchens distributed across 35+ Indian cities. If you are looking to discover more about Faasos Startup Story, Founders and Team, Funding and investors, Business and Revenue Model, Competitors, Revenue, and more, then check them all out here in this article:
Faasos - Company Highlights
- Startup Name-Faasos
- Sector-Online Food Ordering, Foodtech
- Co-founders-Jaydeep Burman, Kallol Banerjee
- Operational Revenue-$75.24 million (₹572 crore in FY20)
- Total Funding- $111 million
- Parent Organization-Rebel Foods Pvt. Ltd
Faasos - About and How it works
So what is Faasos? The Faasos company is an Indian online food delivery company that was incorporated in the year 2011. Faasos launched its mobile app in 2014 and since then the company has been catering to the customers of India as food on-demand service.
Headquartered in Mumbai, Maharashtra Faasos currently operates 160+ kitchens that provide meals from 4 different brands. Faasos India is the only company that works on all the three stages of food on-demand business which are ordering, distribution, and order fulfillment in the sector of online food ordering business in India.
Faasos is an Indian Online Food Delivery Company and a nationwide chain of food outlets. Faasos origin started out by selling only Calcutta rolls in Pune, but now Faasos menu includes wraps, rolls, Frankies, and Indian food items, which are delightful alternatives to the McDonalds, Subways, and Dominos. Faasos website takes online orders, prepares food for its customers, and delivers the same at their doorstep. Besides, you can also search for the website or Faasos outlets in India by simply searching "Faasos near me".
The Faasos apps' wide range of food items includes classic wraps, party wraps, rice bowls, desserts, meals, snacks, etc. According to the Faasos reviews, it also accepts online party orders. Since its inception, Faasos aimed to create a kitchen from where the customers can order all their favorite dishes and get them delivered in no time. Besides, Faasos branches across the country are based on the Faasos cloud kitchen model, through which people can order food.
Faasos - Founders and Team
Jaydeep Barman (CEO) and Kallol Banerjee are the Faasos founders.
Faasos Founders, Ceo.
Jaydeep Barman and Kallol Banerjee - Faasos, Founders
Jaydeep Barman completed his MBA from INSEAD and is the current Faasos CEO. This Faasos founder worked for McKinsey & Company, London, where Jaydeep was an associate principal.
Kallol Banerjee has completed his MBA from the Indian Institute of Management, Lucknow, and has further studied at INSEAD after completing his graduation in Mechanical Engineering from Jadavpur University. Kallol has previously worked in Singapore at Bosche before they started their venture.
Soumyadeep Barman is known as the Chief Product Officer and Co-founder of Faasos. Barman was earlier the Chief Technology Officer of the company since he joined and stepped down from the same in April 2020 when he started as a Chief Product Officer.
Faasos currently has somewhere between 500-1000 employees.
Faasos - Owner | Rebel Foods Pvt Ltd.
Rebel Foods is the Faasos owner and the Faasos parent company. Rebel Foods is an Indian online restaurant company that operates several cloud kitchen brands. It was founded by Faasos founders Jaydeep Barman and Kallol Banerjee in 2011.
Faasos - Startup Story | How was Faasos Started?
In 2004, Faasos's startup story began as a Calcutta Roll store chain in the city of Pune. To provide end-to-end delivery, fresh food, and doorstep delivery, it took around 7 years for Jaydeep and Kallol, which helped them establish Faasos India with full commitment. The Faasos history was started with an idea over rum and cola at an apartment that was shared by the two in Pune.
Jaydeep had no background experience in the food business sector and all his decisions were intuitive, which has served him well so far. He was just tired of the burger and pizza chains and wanted something Indian to pop up in the online sector and that's how the Faasos story began. From 2011 to 2013, Faasos revenue grew and the founders opened over 70 Faasos franchises in the major cities of India.
Faasos - Mission and Vision
The main aim/vision of Faasos is to become the best-in-class ‘Food on Demand’ business in the country. Faasos believes to stand as the best company to answer the customers' queries of “what’s for dinner today?” and deliver them right at their doorsteps.
Faasos - Name, Tagline, and Logo
The Faasos name was taken from Burkina Faso, which is a French colony and it means ‘Land of Incorruptible People’. Although it does not symbolize anything nor is related to the food industry but the founders thought that it might be interesting to keep this name.
The Faasos tagline – We Got Your Food! Faasos logo is written in cursive font in blue. The Faasos company aims to become the leading ‘Food on Demand’ business in our country.
Faasos - Business Model and Revenue Model
Faasos business model is developed around the idea of running a hyperlocal, cloud kitchen-based model, wherein the parent company Rebel Foods offers numerous in-house brands on its platforms like Oven Story, Kettle&Eggs, Behrouz, Firangi Bake. The Faasos cloud kitchen model was introduced after the other Faasos brands were added in the year 2015.
The Faasos food delivery process is designed in a way that turns out to be an easy and effective process for the customers to order Faasos food. In this way, the Rebel foods business model helps the company multi-task using the same kitchen, with common ingredients and the same staff to fulfill all their orders from varied brands. Today, Faasos operates more than 160 Faasos franchises that offer meals from four different brands.
Faasos has deeply followed the business model of Domino's, which requires them to keep close to the neighborhoods of the customers, stay abreast of the customers' orders and guarantee food delivery within 30 minutes.
Faasos earns from the commissions from the food order deliveries. Furthermore, it also earns from the delivery charges it levies on the food orders. The company further earns from the advertisements and features of food brands that it introduces on its app.
Faasos - Revenue
Faasos recorded a revenue of $75.24 million (Rs 572 crore) in FY20, thereby growing around 84% year-on-year (YoY) from ₹305.1 crores, which Faasos managed to pick up in FY19. The company's revenues were recorded at only ₹147 crores in FY18, which has significantly grown.
The company’s net loss has also ballooned at INR 431 Cr from the past fiscal when it was only INR 131 Cr. Thus, Faasos' losses increased by around 229%.
Faasos - Startup Challenges
One of the most important aspects of any business is accounting and finance and that was an early challenge for Faasos to manage as it was using the legacy Point of Sales system for store sales and inventory management whereas, for the accounting and financing, Faasos was dependent on the ubiquitous Tally software.
Afterward, the company switched to Sage, which helped it overcome the problems of finance and accounting. According to the Faasos founders, one of the big earliest loopholes of the Faasos India business was tied to the location that they decided upon and the cost needed to repair the mistake. However, these challenges made them realize that they need to have multiple food brands rather than a brand extension.
Faasos - Competitors
Faasos is a chain that has direct competition with giant food aggregators like Zomato and Swiggy and the other Faasos competitors like FoodPanda and so on. In India, the food delivery market is valued at 15 billion dollars and is exponentially growing day by day. The online food delivery market has also become extensively competitive. Although Faasos app has a niche business model and works differently than the others, the company still faces stiff market competition. To compete in this competitive market and to be better than its competitors, Faasos focuses on the pricing and the range of food items that it offers to its customers.
Faasos - Growth
The Co-founder and CEO of Faasos, Jaydeep firmly believes that Faasos has no limit. It has expanded much in terms of the restaurant partners it collaborates with and also diversified its range of food items. Faasos outlets in India will keep increasing as the company has the power and ability to make strong brands in the food industry and the cost structure of lean manufacturing and distribution. In the long run, Faasos has the potential to offer products at low costs in the future as well and also expand to run it at a global level. Over the years Faasos has become one of the top food delivering companies in India. Besides, the company has also:
- Built 1000 restaurants in just 24 months.
- Increased its revenues by 5x in a really short time.
- Raised itself to serve more 30,000 meals in a single day.
- Colonel Harland David Sanders Story: Nobody Does Chicken Like KFC
Faasos - Future Plans
Faasos is expanding at an impressive pace. The company is further looking to capture more of the market shares in the times upcoming. Faasos is aiming to expand beyond the borders of India and partner with more restaurants to provide delicious foods to its world of customers. In terms of revenues, Faasos is currently targeting the $100 million mark. The Rebel Foods-owned brand is looking forward to building 10,000 restaurants across Indian in the next 5 years.
Faasos - FAQs
Who is the CEO of Faasos?
Jaydeep Barman is the Co-Founder and CEO of Faasos.
How much is the revenue of Faasos?
In FY20, Faasos has generated operating revenue of ₹572 crores, from ₹305.1 crores in FY19.
Who are the Top Competitors of Faasos?
Faasos is a chain that has direct competition with giant food aggregators like Zomato and Swiggy whereas there are other competitors like FoodPanda and so on
Who is the Owner of Faasos?
Rebel Foods Pvt Ltd., is the Owner/Parent Organisation of Faasos. It was founded by Jaydeep Barman (CEO) and Kallol Banerjee in 2011.