Get the Perfect Laptop for Education: Primebook

Primebook is a startup founded by four individuals who are passionate about using technology to solve real-world problems. Chitranshu Mahant, the CEO of the company, hails from Gwalior, while Umang, the CTO, is from Delhi. Pankaj, the Business Head, comes from Dehradun, and Aman, the COO, is from Delhi. Chitranshu and Aman both graduated from IIT Delhi and were roommates before starting the company.

AIM AND IDEA BEHIND THE STARTUP

The aim of Primebook is to provide affordable and reliable laptops to students in India who may not have access to them otherwise. With the increasing shift towards online education, the need for laptops has become more important than ever before. However, many students in India cannot afford the high cost of laptops or may face technical challenges when it comes to using them. Primebook aims to bridge this gap by providing an Android-based laptop that is easy to use and affordable.

Another important goal of Primebook is to provide a high-quality educational experience to students. The Primebook laptop comes with an extensive library of educational apps that can help students learn and grow. The company has also partnered with ed-tech companies and NGOs to provide access to educational resources to those who may not have access otherwise. By doing so, Primebook is making a significant contribution to improving access to education in India.

In addition to its focus on education, Primebook is committed to using technology to drive innovation and growth. The company has developed its own operating system, PrimeOS, which has already been downloaded by millions of people worldwide. The Primebook laptop is a testament to the company's commitment to innovation, as it is one of the first foldable Android laptops on the market.

The idea for Primebook came from the realization that many students in India do not have access to laptops, either because of affordability issues or because of the unsupportable format of Android apps on the Windows platform. To address these challenges, Primebook developed an Android laptop with its own made-in-India operating system, PrimeOS.

BUSINESS MODEL

The business model of Primebook is centered around providing affordable and reliable laptops to students in India. The company has developed its own operating system, PrimeOS, which is a key component of its business model. PrimeOS is a lightweight and efficient operating system that is optimized for the Primebook laptop. This allows Primebook to offer an affordable laptop with high performance and functionality.

In terms of revenue, Primebook makes money by selling its laptops directly to consumers. The price of a Primebook laptop is currently set at INR 15,000, which is significantly lower than the cost of many other laptops on the market. By offering an affordable laptop, Primebook is able to reach a wider audience of students who may not be able to afford other laptops.

In addition to selling laptops, Primebook also generates revenue through its app store. The Primebook app store offers a wide range of educational apps, many of which are free, but some may require payment. Primebook takes a commission on paid apps, which helps to generate additional revenue for the company.

Finally, Primebook also partners with ed-tech companies and NGOs to provide access to educational resources to students in India. These partnerships help to expand the reach of Primebook and generate revenue through collaborations and joint ventures.

TARGET MARKET

The target market of Primebook is students in India who are looking for an affordable and reliable laptop for their education. This includes students in primary and secondary schools, as well as those in colleges and universities.

In India, there is a significant demand for affordable laptops among students, particularly those in rural areas who may not have access to traditional educational resources. Many students cannot afford the high cost of laptops, which can limit their ability to participate in online education. Primebook aims to address this issue by providing a laptop that is specifically designed for students and is available at a lower price point.

Another key target market for Primebook is ed-tech companies and NGOs that work in the education sector. These organizations often work with students who may not have access to traditional educational resources, and require laptops that are affordable and easy to use. Primebook's focus on education and affordability makes it an attractive option for these organizations, and the company has already sold its products to several ed-tech companies and NGOs.

In addition, Primebook is targeting students who prefer to use Android apps for their education. The Primebook laptop is designed to run Android apps, which are popular among students and educators alike. The company has developed an extensive library of educational apps that can be accessed through the Primebook app store, making it a compelling option for students who prefer to learn through digital resources.

SALES AND REVENUE

In the last month, the company had sales of Rs 20 lakhs, indicating a steady growth in its customer base.

To support its growth, the company has raised a total of Rs 3.5 crores in funding over the past few years. This funding has helped the company to expand its operations and increase its production capacity.

The equity splits of the company reveal that the founders have a significant stake in the company, with Chitranshu and Aman each holding 20% equity. Umang and Pankaj hold 15% and 5% equity, respectively.

The company has also implemented several competitive strategies to drive growth, including telecom partnerships, raising enough capital, and developing a network effect. These strategies have helped the company to expand its reach and increase its customer base.

In terms of operations, Primebook has a team of 14 members, including five developers. The company has servicing across 21,000 PIN codes through 350+ stations, indicating a wide distribution network.

Primebook has a gross margin of 35%, which is a healthy margin for a startup. The company has also identified a potential cost savings of 10% if it can increase its production volume to 20,000 units. This will help the company to further improve its margins and profitability.

FUNDING IN SHARK TANKS INDIA

Primebook pitched their business on Shark Tank India and asked for a funding of 75 lakhs rupees in exchange for 1.5% equity.

During the pitch, several sharks made counter offers. Aman, one of the owners of Primebook, countered for 75 lakhs rupees in exchange for 4% equity. Vineeta made an offer for 75 lakhs for 3% equity. Peyush countered with 75 lakhs for 4% equity and Anupam made an offer of 75 lakhs for 3% equity.

In response to these counter offers, the pitchers of Primebook made a counter offer of 75 lakhs for 2.5% equity. Aman and Peyush were ready to accept this deal individually.

Finally, the deal was closed for 75 lakhs rupees in exchange for 3% equity with Aman and Peyush. This means that Primebook received the required funding to support its growth while Aman and Peyush received a stake in the company in exchange for their investment.

The funding received from Shark Tank India will help Primebook to expand its operations, increase its production capacity, and develop new products. With the increased financial support, the company would have been better equipped to compete in the market and reach new customers.