Year 2008, classmates Sagar Daryani and Binod Kumar Homagai had just finished their graduation, and Sagar realized that he was too fragile in math to be able to clear CAT.
The story of WOW! Momo
"Started from the bottom now we're here"
How WOW! Momo went from borrowing Rs. 30K, to being valued at over Rs. 860 crore
Year 2008, classmates Sagar Daryani and Binod Kumar Homagai had just finished their graduation, and Sagar realized that he was too fragile in math to be able to clear CAT.
But he knew that he's always been passionate about brands. He had Nike, Puma’s stickers/logos in his notebook (that's literally me!)
Sagar and Binod originally got the idea of WOW! Momo after completion of 3rd year of graduation as they were waiting for their results at the age of 21.
They got the idea of WOW! Momo by observing the lady who used to sell tasty momos in front of their college
Sagar and Binod used to research all night together. In the night Binod would make Momo and Sagar Daryani would make toss bread etc.
Binod is a Nepali man, and Momo’s origin is thought to be from Nepal itself. Binod is, therefore, a great chef when it comes to making an ideal and delicious momo.
WOW! Momo was started with the investment of 30K rupees which Sagar took from his father.
In the beginning, Sagar and Binod did approach the supermarket chain Spencers to set up a 6 by 6 stall. In the company’s initial days, Sagar used to wear a Wow! Momo T-shirt and approach every person entering the store, asking them to sample the momos.
WOW! Momo’s first kitchen was a 200 square foot room and they took the raw material on credit from a local grocery store to get things started.
The first kitchen started with only a single table and two part-time chefs who worked on a nominal salary. The first chef was Ramji KC who worked for 3000 rupees.
On the first day, the team’s sales were Rs 2200, and by the end of the month, had touched Rs 53,000
Spencers assisted a lot in the WOW! Momo’s early days. They allocated a new kiosk in Kolkata’s finest mall with the greatest Spencers by seeing the hard work of two boys.
After the first four months, they set up their second outlet/stall. In the early days, WOW! Momo sold the momos at 40 rupees per plate.
The South City Mall store marked a game changer for WOW! Momo. The team moved from a revenue of Rs 50,000 a month to Rs 9 lakh. With the additional income, the team hired more people and invested in R&D for their products.
After Spencers, the team approached Big Bazaar and Pantaloons. WOW! Momo launched an outlet at Phoenix Market City in Bengaluru in 2011. This is the first branch out of Kolkata.
They have not looked back ever since. Today, the Food company boasts of having 130 outlets in nine cities. It works in a hub-and-spoke model with a central kitchen in each city.
The company has over 700 people employed in backend productions, & over 900 people managing the storefronts. The team follows a standardised recipe and cooking methodology.
Also, Chef Ramji now works full-time for Wow! Momo, and is the head chef with a salary of Rs 1.5 lakh a month
Backed by The Indian Angel Network & Light House Funds in the past, last year Wow! Momo was valued at over Rs 860 crore by US-based Tiger Global.
More from Atharva Kharbade
It's been 2.5 years now since I'm on antidepressants and many people closely related to me still believe that depression is something that's "just in the head"
Our society needs to seriously rethink of mental health. Our society needs to be educated
3 years ago, during my JEE prep, when I went into clinical depression, no one could diagnose me of it. I had every symptom of it.
I literally got no help. This is not about me, I'm telling this from a general 3rd person view.
Any help that I got was wearing a ring made of horseshoe of a black horse of a specific breed. All the blame was slapped on 'Shani'
I was being taken to orphanages and slum areas so that I could see that my ailments are nothing in front of theirs.
Loads of toxic positivity
I lived in a PG hostel. I used to go to institute. Used to meet numerous people everyday. But not a single person could diagnose me of any medical condition. Not their fault, even I didn't what I'd been going through
Our society needs to seriously rethink of mental health. Our society needs to be educated
3 years ago, during my JEE prep, when I went into clinical depression, no one could diagnose me of it. I had every symptom of it.
I literally got no help. This is not about me, I'm telling this from a general 3rd person view.
Any help that I got was wearing a ring made of horseshoe of a black horse of a specific breed. All the blame was slapped on 'Shani'
I was being taken to orphanages and slum areas so that I could see that my ailments are nothing in front of theirs.
Loads of toxic positivity
Yes, \U0001d5fd\U0001d5fc\U0001d600\U0001d5f6\U0001d601\U0001d5f6\U0001d603\U0001d5f6\U0001d601\U0001d606 can be \U0001d601\U0001d5fc\U0001d605\U0001d5f6\U0001d5f0
— Atharva Kharbade (@athrvakhrbde) September 25, 2020
Before you let your ignorance kick in and make you laugh out loud, try seeing life with a new perspective
No BS
A thread...
Read this if you use sentences like "Good vibes only" or "Just be positive and stay happy"
I lived in a PG hostel. I used to go to institute. Used to meet numerous people everyday. But not a single person could diagnose me of any medical condition. Not their fault, even I didn't what I'd been going through
More from Business
Introducing "The Balloon Effect"
Many businesses & creators have experienced a similar pattern of success.
From @MrBeastYT and @MorningBrew to @oatly and @Rovio.
Let's break down what "The Balloon Effect" is and examples of it in real life.
Keep reading 👇
1/ What is "The Balloon Effect"?
It is a particular pattern of growth.
It is not Instagram's growth trajectory.
It is not https://t.co/5axsTUKek6's growth trajectory.
"The Balloon Effect" is defined by several years of hard work & grit complemented by slow, linear growth.
2/ And then one day, one month, or one quarter...everything changes.
A business hits a tipping point and its trajectory shifts entirely.
Gradual growth turns to exponential growth & your brand and your size explode.
Like a step function.
3/ Now, you're probably wondering.
Why is it called "The Balloon Effect"?
Because filling/popping a water balloon follows the exact pattern I just described (and so many businesses experience).
Long unsexy slog 👉 Exponential tipping point.
4/ Initially, you turn on the faucet & water takes up space in the empty balloon.
Through effort you open the faucet, yet the results are unexciting.
But it's what must be done for water (or growth) to happen at all.
It's not sexy, but it's necessary.
Many businesses & creators have experienced a similar pattern of success.
From @MrBeastYT and @MorningBrew to @oatly and @Rovio.
Let's break down what "The Balloon Effect" is and examples of it in real life.
Keep reading 👇
1/ What is "The Balloon Effect"?
It is a particular pattern of growth.
It is not Instagram's growth trajectory.
It is not https://t.co/5axsTUKek6's growth trajectory.
"The Balloon Effect" is defined by several years of hard work & grit complemented by slow, linear growth.
2/ And then one day, one month, or one quarter...everything changes.
A business hits a tipping point and its trajectory shifts entirely.
Gradual growth turns to exponential growth & your brand and your size explode.
Like a step function.
3/ Now, you're probably wondering.
Why is it called "The Balloon Effect"?
Because filling/popping a water balloon follows the exact pattern I just described (and so many businesses experience).
Long unsexy slog 👉 Exponential tipping point.
4/ Initially, you turn on the faucet & water takes up space in the empty balloon.
Through effort you open the faucet, yet the results are unexciting.
But it's what must be done for water (or growth) to happen at all.
It's not sexy, but it's necessary.
The Mother of All Squeezes
How Volkswagen went from being on the brink of bankruptcy to the most valuable company in the world in two days
/THREAD/
1/ At the peak of the 2008 financial crisis, Volkswagen was considered a very likely candidate for bankruptcy.
Heavily indebted and already financially struggling before 2008, with car sales expected to plummet due to the ongoing global crisis.
2/ With GM and Chrysler filing for bankruptcy in 2009, shorting the VW stock would seem a safe bet.
If you are not familiar with stock shorts and short squeezes check my thread
3/ On October 26, 2008, Porsche announced it had increased its stake at VW from 30% to 74%.
This was a surprise to many who were led to believe that Porsche wasn't planning a takeover of VW, based on the company's announcements.
4/ Before the announcement, the short interest was approximately 13% of the outstanding shares, a number considered relatively low.
Porsche had a 30% stake, the Lower Saxony government fund held 20% of the shares, and another 5% was held by index funds.
How Volkswagen went from being on the brink of bankruptcy to the most valuable company in the world in two days
/THREAD/
1/ At the peak of the 2008 financial crisis, Volkswagen was considered a very likely candidate for bankruptcy.
Heavily indebted and already financially struggling before 2008, with car sales expected to plummet due to the ongoing global crisis.
2/ With GM and Chrysler filing for bankruptcy in 2009, shorting the VW stock would seem a safe bet.
If you are not familiar with stock shorts and short squeezes check my thread
Shorts, Squeezes, and Betting Against Stocks
— Kostas on FIRE \U0001f525 (@itsKostasOnFIRE) January 27, 2021
What is short selling, how is it used and why is it risky?
/THREAD/ pic.twitter.com/PyDd208hFe
3/ On October 26, 2008, Porsche announced it had increased its stake at VW from 30% to 74%.
This was a surprise to many who were led to believe that Porsche wasn't planning a takeover of VW, based on the company's announcements.
4/ Before the announcement, the short interest was approximately 13% of the outstanding shares, a number considered relatively low.
Porsche had a 30% stake, the Lower Saxony government fund held 20% of the shares, and another 5% was held by index funds.
Facebook originally a CIA program called "LifeLog".
LifeLog, via DARPA, terminated on Feb 4th, 2004.
Facebook was launched on Feb 4th, 2004.
Many of the LifeLog team became execs at FB.
Zuckerberg is a figurehead.
CIA allowed Cambridge to help Trump win
https://t.co/enzOXDCogV
Pentagon Kills LifeLog
LifeLog, via DARPA, terminated on Feb 4th, 2004.
Facebook was launched on Feb 4th, 2004.
Many of the LifeLog team became execs at FB.
Zuckerberg is a figurehead.
CIA allowed Cambridge to help Trump win
https://t.co/enzOXDCogV
Project: Lifelog
— Robert Horan (@Robby12692) December 13, 2018
Started by DARPA in 1999, the goal of Lifelog was to create a database on civilians without their knowledge, and track everything they do.
The project "ended" on Feb 4th, 2004.
Facebook began the exact same day.
The CIA funneled tens of millions into Facebook. pic.twitter.com/r7hwF0v9kh
Pentagon Kills LifeLog
