Dire

FINAL RESEARCH PROJECT

Dissertation

On

Submitted By:

JAY SHAH

Enrollment No: 040201044

In fulfilment of

POST GRADUATE DIPLOMA IN MANAGEMENT

Academic Session: 2014 – 2016

Dated: APRIL 24, 2016

Submitted to

(Prof. PRIYANKA NAIR)

CERTIFICATE FROM MENTOR

Certified that the project report entitled ―A Study on Meal Voucher industry( ZETA)

submitted by Jay Shah in partial fulfilment of the post Graduate Diploma in Management

from United World School of Business, Ahmedabad, embodies the record of investigation

carried out by her under my supervision.

The work has not been submitted for any degree of any other university.

24th

April, 2016 (Prof. Priyanka Nair)

Supervisor

DECLARATION OF THE STUDENT

I, Jay Shah, student of MBA IV Semester, studying at United World School of Business,

Ahmedabad hereby declare that the project report titled ―A STUDY ON Meal Voucher

Industry (ZETA)” has been done by me in fulfillment for the award in the two year full time

Post Graduate Diploma in Management. I also declare that this project report submitted to

United World School of Business is the result of my own efforts and has not been submitted

to any other institution for the award of the degree or diploma.

JAY SHAH

ACKNOWLEDGEMENT

I would like to express my gratitude to all those who gave me the possibility to complete the

project. I want to thank United World School of Business, Ahmedabad for giving me

permission to commence this project in the first instance, to do the necessary research work.

I am deeply indebted to our faculty whose help, stimulating suggestions and encouragement

helped us in all the time of research for and writing of this report. I am highly obliged to the

United world School of Business for arranging the programme of dissertation in such a

manner. I would like to extend my gratitude to all the staff and especially to Prof Priyanka

Nair of United world School of Business, who provided me useful information regarding the

subject with their cent percent participation and supported in making this project report a

successful task. It was a memorable experience to work and complete my project. Finally, I

express my intense gratitude to my parents whose blessings and helped me to translate my

efforts into fruitful achievement.

COMPANY PROFILE

Ditch Paper

Digitize your Meal Vouchers, Benefits &

Expense Management

Instant. Secure. Accepted everywhere.

Join the revolution. Switch to the modern way of giving

your employees tax benefits.

ZETA MEAL VOUCHERS:-

Digitized meal coupons that guarantee easy transactions & employee tax benefits.

Save up to ₹ 9,000 in taxes

Accepted across 100,000 outlets

100% tax compliant

ABOUT US

We at Zeta are on a mission to make digital payments more inclusive and accessible.

BHAVIN TURAKHIA

CEO AND CO-FOUNDER

Bhavin is the Founder & CEO of Directi, Ringo, Flock, Radix, & Media.net. These

businesses comprise 1500+ people across 8+ offices, with over 9 million customers, revenues

over $200 million, a net worth of over $500 million and multiple category leading global

brands across business areas as diverse as web presence (domains, hosting, cloud-

infrastructure); online advertising (contextual advertising/ad networks); and communication

& collaboration (voice and messaging).

Bhavin is a respected entity in the internet/technology community, and a frequent speaker at

various seminars, tech conferences and colleges. He has won several awards, including the

Entrepreneur of the year award in 2005.

Bhavin was former chairman for the Global ICANN Accredited Registrars Constituency for

two consecutive terms.

RAMKI GADDIPATI

CTO AND CO-FOUNDER

Prior to this, Ramki was a Senior Director at Directi. In addition to being an integral part of

the Directi Group‘s success over the last 7 years, Ramki has actively lead the Riva group

businesses, under Bhavin‘s guidance.

Before Directi, Ramki was the Co-Founder and CEO of Bridle Information and Technology

Solutions, a software company that focused on creating mobile applications in the education

and healthcare spaces for the Indian market. Ramki was amongst the five (5) people

identified as ‗Asia‘s Best Entrepreneurs Under 25‘ by BusinessWeek in 2006 for his role at

Bridle.

Ramki has also worked with Morgan Stanley. He completed his Masters in Management and

Masters in Software Systems from Birla Institute of Technology and Science (BITS), Pilani.

VIJAY RAJAGOPAL

NATIONAL SALES HEAD-AFFILIATE PARTNERSHIPS

Vijay heads the affiliate partners‘ network across India for Zeta.

Vijay‘s experience spans more than 11 years across Private Equity, Consulting and

Investment Banking. The last 6 years was in Private Equity investing, at Peepul Capital and

Aavishkaar Venture Capital. He has considerable experience in investing and managing firms

across Consumer Products, Financial Services, Industrials and Technology.

He has served as a Director on the Boards of five companies. His Consulting and Investment

Banking stints were with Tata Strategic Management Group and ICICI Bank's Global

Investment Banking Group (Singapore).

He has an MBA from IIM-Ahmedabad, an Engineering degree from BITS,Pilani

(Department topper) and has also completed his Chartered Financial Analyst degree (US).

RBL Bank, one of India’s fastest growing scheduled commercial banks, shares our

passion and mission. The Bank is the issuer of all prepaid instruments on Zeta.

OUR TEAM

Zeta began with a vision and a handful of people who were determined to build something

special. We have grown bigger since then but we all share a determination to change Indian

Payments Space for the better.

ZETA basically is a subsidiary company which has a parent company named DIRECTI.

Following will accomplish all the information about DIRECTI.

Established in - 1998

Number of Employees - 1500+

Offices - Mumbai, Delhi, Bengaluru, Dubai, New York, Los Angeles, Ras Al

Khaimah, Zurich

Revenue - $250+ million / year

Group Enterprise Value: $700+ million

Founders - Bhavin Turakhia, Divyank Turakhia

Directi comprises of a group of tech businesses owned, operated and invested in by Bhavin

Turakhia and/or Divyank Turakhia. The Group boasts of multiple business units that are run

independently by their respective management teams.

The Directi portfolio companies comprise of Media.net, Skenzo, Radix, Ringo, Flock, Zeta

and Codechef. Directi also comprised of BigRock, ResellerClub, LogicBoxes and

WebHosting.info which were sold to the Endurance International Group in a $160 million

transaction in 2014.

Across these businesses, Directi employs 1500+ people across 8 offices, with over 9 million

customers, revenues of over $250 million and a group enterprise value of over $700 million.

The company has invested in multiple category leading global brands across business areas as

diverse as web presence (domains, hosting, cloud-infrastructure), online advertising,

communication & collaboration (voice and messaging) and payments (benefits and

compensation).

Unique aspects about Directi:

All Directi businesses are bootstrapped. None of the portfolio companies have any external

debt or investments. All businesses (barring the newest ones) are profitable, and Directi

generates healthy and growing profits and cash flows each year. All businesses are amongst

the top 5 globally in their respective space. All of the 11 businesses of Directi are immensely

successful, an uncommon occurrence in the startup space.

MILESTONES

2015

April

Launched Zeta, a mobile app to revolutionise compensation and benefits

2014

September

Launched Flock, the smart enterprise communication app

May

Introduced Ringo, a low cost international and domestic calling app

January

Sold 4 business units (BigRock, Logicboxes, Webhosting.info, ResellerClub) to Endurance

International Group

2012

March

Introduced Radix, Asia‘s leading registry for top-level extensions

2011

November

LogicBoxes crosses the 6 million domains mark

November

LogicBoxes launches .XXX on its platform

September

LogicBoxes launches .AU

August

LogicBoxes partners with WHMCS

March

LogicBoxes powers 5 million domains on its platform

February

LogicBoxes launches SiteBuilder & SiteDesign services

2010

November

LogicBoxes partners with HostGator

November

LogicBoxes launches .CA on its Platform

June

LogicBoxes & Skenzo organize the Brussels Beer Fest

March

LogicBoxes partners with .CO Internet

2009

September

Directi hosts National Case Study Competition 2009 which attracts 1400+ students from the

top B-Schools across India.

September

CodeChef comes out of Beta and is launched with new features and 15,000+ registered

programmers.

September

LogicBoxes launches Accreditation.com.

August

ResellerClub launches .CN - the second largest TLD ever.

July

LogicBoxes and ResellerClub launch Unlimited Web and Email Hosting Solutions.

June

Directi moves to its new headquarters in Mumbai - "Directiplex".

April

LogicBoxes and ResellerClub launch FREE DNS, Mail and Domain Forwarding for all

Partners and Resellers.

February

ResellerClub launches .TEL March 3rd, 2008: ResellerClub Launches .ASIA.

January

LogicBoxes surpasses the 4 million domains mark.

January

Directi launches CodeChef in Beta version - India's first, non-commercial, multi-platform

online programming competition; followed by the launch of DesignChef.

2008

December

For the fourth consecutive year, Directi features in the Technology Fast 500 Asia Pacific list

by Deloitte.

December

LogicBoxes announces Domainer Accreditation Program.

September

ResellerClub - Directi Group's wholesale arm crosses the 2 million domain names mark and

continues to be the 10th largest domain registrar worldwide.

January

Co-Founder, Divyank Turakhia, is featured as one of India's "New Business Leaders" by

Financial Express.

January

Skenzo is ranked as the #1 Fastest growing domain parking company worldwide for 2007 by

Revenue and Headcount.

2007

November

For the third consecutive year, Directi is ranked amongst the Technology Fast 50 list by

Deloitte and Touche.

August

Skenzo is featured in the List of Asia's Top 200 Private Companies by Red Herring.

April

Directi opens an office in China.

January

Skenzo is ranked as the #1 Fastest growing domain parking company worldwide for 2006 by

Revenue.

2006

November

For the second consecutive year, Directi is ranked among the Technology Top 50 India and

Technology Top 500 Asia-Pacific fastest growing technology companies by Deloitte and

Touche.

October

ResellerClub - Directi Group's wholesale arm is the second fastest growing domain registrar

in the world for the month.

August

Divyank Turakhia is featured in the list of Asia's Top Young Enterepreneurs by

BusinessWeek Magazine.

August

Directi is awarded the IT Day Award in the special achievement category.

August

Within seven months of its launch, ResellerClub - Directi Group's wholesale arm crosses the

1 million domain names mark becoming the 13th largest domain registrar worldwide.

July

Divyank and Bhavin Turakhia are featured as one of the country's Top Young Entrepreneurs

in an exclusive interview on CNBC.

February

Directi Group purchases a new office facility to house 2500 employees, and appoints Hafeez

Contractor for designing the same.

February

Directi Group launches its wholesale arm - ResellerClub that provides turnkey business

process automation and end to end Web Services to its 25,000+ strong channel partner

network.

2005

December

Skenzo, the new startup business unit, announces that it shall now be run under the direct

leadership of Divyank Turakhia. Turakhia plans to grow the startup into a full-fledged

business.

December

DirectI Group is ranked 147th fastest growing technology company among the top 500 fastest

growing technology companies according to Deloitte Technology Fast 500 Asia Pacific

Program.

November

Directi Group is ranked 10th fastest growing technology company among the top 50 fastest

growing technology companies according to Deloitte Technology Fast 50 India Program.

October

Directi Group surpasses the 500,000 customers' benchmark.

October

Directi Group hives off its Domain Registrar into a new Business Unit - Public Domain

Registry - an exclusive white-labeled Domain Registrar.

September

Bhavin Turakhia wins the Bharti Entrepreneur of the Year Award instituted by the

Entrepreneurship Development Institute of India.

January

Domain Registrar Business becomes one of the first 4 official .in Registrars.

2004

December

Directi Group's Domain Registrar Business Ranks 15th in the list of Fastest Growing

Registrars Worldwide.

June

Directi Group crosses 200,000 Customers worldwide.

2003

December

Directi Group Launches LogicBoxes, its software and consulting arm which powers

Registrars worldwide.

December

Directi Group Crosses the 100,000 Customers milestone.

September

Launches WebHosting.Info, the leading online news and statistics portal covering the Web

Hosting industry.

2002

April

Jumps 13 ranks to become the 63rd largest Registrar worldwide.

January

Jumps 12 ranks to become the fastest growing Registrar in Asia and the 76th largest Registrar

worldwide.

2001

May

Directi becomes the first and ONLY Company in India to get an ICANN Accreditation.

CURRENT BUSINESS UNITS

EXITED (ERSTWHILE BUSINESS UNITS)

NEWS AND MEDIA

BUSINESS UNITS

The Directi Group consists of several different Business Units. Depending on the services

you're interested in, you can visit the website of the appropriate Business Unit below:

Current Businesses:

Ringo - www.ringo.co

Flock - www.flock.co

Zeta - www.zeta.in

Radix - www.radix.website

Media.net - www.media.net

Skenzo - www.skenzo.com

Codechef - www.codechef.com

Exited:

LogicBoxes - www.logicboxes.com

ResellerClub - www.resellerclub.com

WebHosting.Info - www.webhosting.info

BigRock - www.bigrock.com

OFFICES

India

Mumbai

Directiplex,

Next to Andheri Subway,

Old Nagardas Road,

Andheri (East),

Mumbai,

Maharashtra 400069

Tel No: 91-22-30797500

Fax: 91–22–30797508

India

http://www.ringo.co/

http://www.flock.co/

http://www.zeta.in/

http://www.radix.website/

http://www.media.net/

http://www.skenzo.com/

http://www.codechef.com/

http://www.logicboxes.com/

http://www.resellerclub.com/

http://www.webhosting.info/

http://www.bigrock.com/

Delhi

UM House, IInd Floor

Plot No. 35, Sector - 44

Landmark - behind Taj Vivanta Hotel

Gurgaon - 122002

Haryana, India

Tel: 91-124 –4113280/82

Tel: 91-124 –4115986

Tel: 91-124 –4285147

India

Bengaluru

Directi Internet Solutions Pvt Ltd

BG 15, 7th Floor,

Pritech Park Annex,

Bellandur Village, Varthur Hobli,

Bengaluru East Taluk, Bengaluru Urban District,

Bengaluru - 560103

India

3CET REPORT

COMPANY:-

ZETA basically deals into digital meal vouchers that are given to the corporate people for

earning tax benefits yearly.

Paper free, Digital Meal vouchers revolutionising m-commerce

Established in 2015 Management Profile -

Bhavin Turakhia, Co-Founder and CEO Ramki Gaddipati, Co-Founder and CTO

No. of employees - 100

Zeta is an innovative mobile payments platform that seeks to revolutionize m-commerce and

eliminate dependency on paper and plastic. The unique platform delivers multiple services

and applications that can potentially create a remarkable impact in the lives of millions of

employed professionals India.

Zeta Meal Vouchers serves as a substitute for tangible meal vouchers by crediting the amount

directly to one‘s personal Zeta wallet. The same digital money can be used to pay at any retail

outlet in the country. Zeta Meal Vouchers is a unique application that aims to revolutionise

benefits and reimbursements in the corporate space.

PRODUCT PORTFOLIO:-

As mentioned above ZETA deals into tax beneficial digital meal vouchers that can be

redeemed at stores which are been tied up with zeta. Following are the list of products that

are under ZETA.

ZETA MEAL VOUCHERS:-

Easy Paperless Distribution

Zeta‘s one click operation helps you distribute meal vouchers instantly and efficiently to

multiple employees across offices, all in one go and without having to use paper at all.

100% Compliant

Zeta is the only meal voucher solution in India that is 100% compliant with RBI and Income

tax norms, as certified by KPMG and EY

Zero Cost*

Zeta is extremely cost effective and offers greater savings than any other solution available in

the market. And if you sign up today, you can avail a complete waiver on fees for the first

year. Hurry up!

Employees Love Zeta

Your employees don‘t have to carry bulky booklets or count coupons during payment. Zeta

vouchers are always available on their phones.

100,000 Merchant Outlets

Zeta Meal Vouchers can be used at over 1 lakh merchant outlets across the country

Cafeteria Integration

Zeta integrates seamlessly with your in-house cafeteria

Merchant Directory

Zeta‘s intuitive technology provides you with a list of Zeta affiliated merchant outlets, basis

your current location so you never have to hunt for an outlet again.

Self sign Up

You can instantly start accepting Zeta Meal Vouchers in your in-house cafeteria with no

overheads whatsoever.

ZETA CLOUD CARD:-

Customize Your Programme

Upload offers, set expiry dates and send out reminders with our customizable solution.

Stay Connected

Send updates, images, videos and offers to customers and stay in touch with them always.

Intelligent Reports

Track performance and footfalls of stores using our geo maps.

Zeta Cashbacks

Send your customers cashbacks that can be spent at only your store.

Zeta Loyalty Stamps

Reward your most active customers for repeat visits at your store.

ZETA CLOUD CARD is basically a digital customer loyalty programme.

ZETA SUPER CARD:-

Use anywhere

The Super Card can be used at any outlet that accepts card payments.

Works like a debit card

Powered by Mastercard, the Super Card is as easy to use as any other debit card.

Online payments

The Super Card can be used to make online purchases too.

Fully customizable

Customize the Super Card right down to finer details so that it’s compliant with your company regulations.

Smart verification

Zeta verifies merchant outlets based on products sold to make absolutely certain that it's used for food and non-alcoholic beverages only.

Secure payments

It’s safe, hassle free and protected by a PIN.

100% tax compliant

The Super Card is fully income tax and RBI compliant. Help your employees save on taxes.

The ZETA SUPER CARD is having all the benefits of ZETA APP in mobile which is accepted everywhere.

ZETA BENEFITS (PRODUCT COMING SOON):-

Save > ₹ 20,000 in taxes

Medical, Conveyance, Insurance and more

100% Acceptance

ZETA EXPENSE CARD (PRODUCT COMING SOON):-

Define expense budgets

Manage spend categories

DISTRIBUTION NETWORK:-

As of now there is no need of distribution of meal vouchers from one place to another as in

the company had developed meal vouchers on digital platform which can be transferred to the

employees within a click. So distribution expenses for the company is next to zero.

SALES FORCE:-

As mentioned above there are in all 100 employees working under the banner of ZETA.

Talking about DIRECTI, we have just crossed over 1500 employees in this year. So by the

rapid expansion in the manpower of the company any person can judge the company‘s

profile.

PROMOTION STRATEGIES:-

Basically our target audiences include various restaurant owners, provision, cafes and bakery

owners. So as a part of our promotion strategy we provide them with various stickers which

can be stuck on the outer wall of their premises so that any customer passing by can know

that ZETA is been accepted here. Moreover, we also provide goodie bags to those customers

who tie up with us in the very first meeting. The goodie bag includes a water bottle, pen and a

tee.

MARKET STRUCTURE:-

Being the part of meal voucher industry, the entry and exit of the company totally depends on

the government. It faces direct competition from sodexo and ticket restaurant.

MARKET SHARE:-

ZETA ranks no.1 in various states like Maharashtra, Delhi, Haryana, Karnataka, and many

more. It faces competition in Gujarat and other nearby states from sodexo and ticket

restaurant.

MEASUREMENT METRICS:-

Performance measurement is done by conducting semi-annual and annual gatherings whereby

all the sales people are invited and progress report of the company is been disclosed.

Moreover the person with highest sales margin is been awarded. Also appraisal form is also

been circulated through the wholesalers in order to know how well the company is being

adopted by their customers.

CUSTOMERS:-

As we all know that for any company, customer remains at the center. Similarly, ZETA also

follows the same pattern. Talking about the customers, mainly the customers of ZETA are

corporate people. It means that any corporate employee earning more than 3 lac per annum is

eligible to receive ZETA meal vouchers. So basically customers includes those corporate

employees where ZETA is been tied up for distribution of meal vouchers.

COMPETITION:-

Entry and exit in this particular meal voucher sector totally depends on the government.

Government is sole eligible to take upon decisions for the same. Talking about the

competition, ZETA faces competition from two relevant companies in this sector i.e.

SODEXO and TICKET RESTAURANT. People are only liable to tax benefits if the

transaction in the market happens through the above mentioned three companies i.e. ZETA,

SODEXO, TICKET RESTAURANT.

ENVIRONMENT:-

ZETA Corporate Values express our corporate culture in a concise manner. We expect all our

employees to understand the vision & mission of the organization and adhere to these values.

Robust implementation of ZETA‘s ideologies for quality, value and innovation will be the

cornerstones fostering your growth at ZETA.ZETA exposes you to varied functionalities of

the meal voucher industry such as Research & Development, Quality, Sales, Marketing,

Human Resources, Project Marketing, Administration, Finance and Strategic Planning. The

Human Resources Division of ZETA conducts several skill enhancement programs

periodically. We have cultivated an environment involving a genuine intent to foster the long-

term learning & development of our employees. We also reinforce the importance of

conservation of natural and company resources through various initiatives.

From the above review, it is clearly understood that the working environment is perfect and it

maintains a perfect relation between work/life balance.

TECHNOLOGY:-

For HR managers For employees

Instant, quick and one-click transfers to all employees No need to carry paper vouchers

Fully-compliant with RBI and IT norms Offers tax benefits of upto 30%

No cost of integration Can be used for a purchase at any outlet

Completely secure Incorporates location-sensitive merchant directory

Zeta, the newest portfolio company of the Directi group, introduces Zeta Meal Vouchers, a mobile-based meal voucher platform. Introduced for the first time in India, this revolutionary new solution will provide HR Managers with an instant one-click distribution platform to employees across cities. This path breaking solution provides HR Managers a simple desktop interface that can be used to initiate transfer of meal vouchers to hundreds of employees at one go. Employees can then receive these meal vouchers on their smartphones and start using them instantly. What‘s even more interesting is that Zeta Meal Vouchers can be used across any outlet for purchasing food and non-alcoholic beverages - irrespective of whether the outlet is a Zeta affiliated partner or not. Zeta CEO and Co-founder Bhavin Turakhia said, "We are really excited about our new initiative and foresee a lot of scope for this product. The meal voucher market today is worth about ₹4,000 crore with approximately one million employees using meal vouchers in some form or the other. The potential market size is estimated at over 10 million users. However, given the cumbersome distribution process, many corporates and employees shy away from this benefit. We genuinely think Zeta can make this process 10x better than any current practice.‖ This tax saving instrument is also the only solution in India that is fully compliant with Income Tax and RBI laws as prescribed under the new RBI norms updated in December 2014.

Paper Vouchers Cards Zeta Meal Vouchers

Reserve Bank Compliant ✖ ✓ ✓

Income Tax Compliant ✓ ✖ ✓

Tax Benefits to Employees ✓ ✖ ✓

With Zeta, HR Managers can easily distribute vouchers digitally to employees without

wasting time or resources. This solution also eliminates the problem of storage of vouchers

until employees have collected them. The fact that these vouchers are available to employees

on their smartphones also implies that they do not have to carry bulky booklets or worry

about vouchers being damaged or stolen. The Zeta app ensures the vouchers are tamper-proof

and fully secure.

Zeta CTO and Co-founder Ramki Gaddipati said, ―Technology is at the heart of this product.

We have directed all our efforts to make Zeta a completely secure product. Zeta is smarter

and more relevant in this fast-changing world. Moving from paper to digital is the way to go.

Whether it is about saving trees from being sacrificed for paper manufacturing or making

complicated processes streamlined and quick, digital is the new way of life today.‖

Zeta Meal Vouchers are also equipped with many other features that make it even more

convenient for users. The app has a location-sensitive merchant directory that helps users

locate outlets in the vicinity. The app also eliminates transaction hassles caused by rigid

denominations in paper-based solutions, thereby allowing employees to pay odd amounts

without worrying about change. All-in-all it is the most convenient meal voucher solution in

the market today.

The Zeta app is supported on Android, Windows and IOS platforms currently.

About Zeta: Zeta is the newest portfolio company of the Directi Group. It promises to give the world

ground breaking offerings and tech solutions that would change the face of commerce.

Completely digital in nature, Zeta believes in making commerce more inclusive and

accessible to more and more people. Zeta is co-founded by Bhavin Turakhia, the CEO and

co-founder of the Directi Group and Ramki Gaddipati, who is also the CTO of this tech-

driven company. To know more, log on to www.zeta.in

About Directi: The Directi Group is a conglomerate of tech companies operating across India, USA,

China, Dubai and Europe. The current revenues of the group touch US$200 million. The

group boasts of a 17-year-long history of churning out successful mass-market

businesses, one after the other, without any outside funding. The group together offers 25

software products and has a customer base of over 2 million worldwide. It employs more

than 1500 people across its offices.

PEST ANALYSIS

POLITICAL SCENARIO:-

Government stability- Government stability comes under the political category

Tax policies- Tax policies paid to the government falls under this category.

ECONOMIC SCENARIO:-












compensation).







SOCIAL SCENARIO:-

As mentioned above it has in all above 1500 employees working in the company belonging to

different caste, creed, religion and then also there is always a helpful atmosphere

@directiplex. Every single employee enjoys his/her work in the company. Moreover there is

no dress code for employees working @directi. Strength and Unity plays a vital role in

success of ZETA and DIRECTI as a whole. Every single want of the employee is been taken

care of @directi.

Above picture clearly states the social environment scenario in the company.

TECHNICAL SCENARIO:-

Easy Paperless Distribution

Zeta‘s one click operation helps you distribute meal vouchers instantly and efficiently to

multiple employees across offices, all in one go and without having to use paper at all.

100% Compliant

Zeta is the only meal voucher solution in India that is 100% compliant with RBI and Income

tax norms, as certified by KPMG and EY

Zero Cost*

Zeta is extremely cost effective and offers greater savings than any other solution available in

the market. And if you sign up today, you can avail a complete waiver on fees for the first

year. Hurry up!

Employees Love Zeta

Your employees don‘t have to carry bulky booklets or count coupons during payment. Zeta

vouchers are always available on their phones.

100,000 Merchant Outlets

Zeta Meal Vouchers can be used at over 1 lakh merchant outlets across the country



Merchant Directory

Zeta‘s intuitive technology provides you with a list of Zeta affiliated merchant outlets, basis

your current location so you never have to hunt for an outlet again.

Self Sign up

You can instantly start accepting Zeta Meal Vouchers in your in-house cafeteria with no

overheads whatsoever.

MARKET RESEARCH

Paper Vouchers Cards Zeta Meal

Act and Compliance

Reserve Bank Compliant

NO YES YES

Income Tax Compliant

YES NO YES

Tax Benefits to Employees

YES NO YES

Here's how we fare in comparison to our competitors

Open Cost

HIGH MEDIUM ZERO

Merchant Acceptance

LIMITED (~20,000) LIMITED (~20,000) HUGE (100,000+)

Work Through Mobile

NO NO YES

Distribution Logistics

HIGH HIGH NONE

Voucher Expiry

LARGE IMPACT LARGE IMPACT NO IMPACT


CUMBERSOME CUMBERSOME SEAMLESS

FINANCIALS












compensation).







MERGERS AND ACQUISITONS

Endurance International Group completed its acquisition of the web presence business of

Directi this week. As part of the deal, Directi‘s registration and hosting brands ResellerClub,

LogicBoxes, webhosting.info, and BigRock will become a part of EIG, expanding its

presence in India.

The basic agreement was referred to in an SEC filing in September ahead of EIG‘s Nasdaq

IPO. At the time, the acquisition of Directi Web Technologies was listed at around $110

million, though final terms are not included in the official announcement.

By acquiring Directi‘s largest brands, EIG not only increases its footprint in India‘s huge

emerging web market, but also acquires a team with direct experience in capturing share from

a market as it emerges.

―We are very pleased to welcome Directi to the Endurance family. We believe this

acquisition represents an excellent opportunity for Endurance to expand its footprint and

positions us for further growth,‖ Endurance CEO Hari Ravichandran said. ―They have

managed to build a blue chip organization without losing their entrepreneurial spirit. And in

fact, the Endurance team intends to learn from Directi‘s approach to developing new

markets.‖

ResllerClub is a platform for designers, hosts, and domain resellers, and manages roughly

4.25 million domains. ResellerClub is also partnering with iNet Interactive to bring

HostingCon to Europe, China and India in 2014.

BigRock is a significant hosting presence in India despite being founded less than four years

ago. It received a bulk transfer of former Dynamic Dolphin domains from ICANN late in

2013.

LogicBoxes is a business technology automation provider and consultant, whose platform

serves over 100 registrars managing 3.75 million domains. EIG hosting company HostGator

is already among LogicBoxes‘ client businesses. LogicBoxes launched a reseller program for

new gTLDs late last year.

http://www.nasdaq.com/markets/ipos/filing.ashx?filingid=9084179

http://www.thewhir.com/web-hosting-news/hostingcon-expands-internationally-partnership-resellerclub

http://www.thewhir.com/web-hosting-news/hostingcon-expands-internationally-partnership-resellerclub

http://www.thewhir.com/web-hosting-news/icann-bulk-transfers-domains-dynamic-dolphin-bigrock

http://www.thewhir.com/web-hosting-news/icann-bulk-transfers-domains-dynamic-dolphin-bigrock

http://www.thewhir.com/web-hosting-news/logicboxes-launches-reseller-program-hosting-companies-access-new-gtlds

http://www.thewhir.com/web-hosting-news/logicboxes-launches-reseller-program-hosting-companies-access-new-gtlds

CORPORATE SOCIAL RESPONSIBILITY

Startups Social Impact -Directi Celebrates Valentine’s Day With Underprivileged Kids,

Spreads #SmilesAtDirecti

Dipti Gore February 22, 2016

Directi and its employees chose to celebrate a slightly non-traditional Valentine‘s Day this

year. They decided to celebrate love in its true sense and tied up with Hamara Foundation, a

Mumbai based NGO that works for street children, to organize a day full of fun, frolic and

love for over 50 kids from across the city.

The event turned out to be a great success, with the children thoroughly enjoying themselves

and taking inspiration for a more fruitful life. The volunteers, who were Directi employees

happily took part in the initiative and spent their special day with the kids at the office

premises. Several activities like drawing, craft, dance, quiz and games were planned not only

to engage with the children, but also to inspire them to imbibe a new interest. The evening

ended with a short inspiring talk on the importance of education and how it can help shape up

a better future for them.

―The stories these little kids had to tell were literally heart breaking. They are bright children

who are being deprived of not just basic necessities in life, but also the opportunities to

change their life. If we can play a part in showing them the right path while bringing smiles

on their faces, that‘s the best way we could spend our Valentine‘s Day‖, said one of the

volunteers.

Watch the video for glimpses of #SmilesAtDirecti –

https://youtu.be/1toX5jihY7o

Above link shows how Directi celebrated valentine‘s day with under privileged kids in

Mumbai.

http://techstory.in/author/dipsconnect/

GROWTH OF INDUSTRY VIS-À-VIS COMPANY

Serial tech entrepreneur Bhavin Turakhia‘s digital payments platform Zeta has rolled out its

first product – Zeta Meal Vouchers –which aims to provide employees access to corporate

meal vouchers at the click of an app.

―The corporate benefits and expense management is Zeta‘s first vertical, under which the first

product is Zeta Meal Vouchers,‖ Turakhia told Techcircle.in.

―If you look at the corporate tax benefits, reimbursements, and expense management, the

processes are extremely cumbersome. Our goal is to eliminate paper and delays from

corporate benefits and corporate expense management, and for that we have created Zeta

wallet. There will be various instruments in this wallet, and the first product or instrument is

Zeta Meal Vouchers,‖ he added.

Zeta, run by Better World Technology Pvt Ltd, was founded in April 2015 by Turakhia and

Ramki Gaddipati.

HR managers, through a desktop interface, can transfer meal vouchers to employees at one-

go. Employees can then receive these meal vouchers on their smartphones via the Zeta app.

The Zeta app is supported on Android, Windows and iOS platforms.

Since these meal voucher booklets or instruments are recognised as prepaid instruments by

the Reserve Bank of India, these require to be issued by a bank. Zeta has therefore entered

into a commercial engagement with RBL Bank for pan-India rollout of the meal vouchers.

These digital vouchers can be used to purchase food and non-alcoholic beverages –

irrespective of whether the outlet is a Zeta affiliated partner or not, said Turakhia. The startup

has already partnered with 100,000 merchants, it claimed.

―We have a massive team for both corporate sales and merchant sales across the country,

including Mumbai, Bangalore, Delhi, Kolkata, Chennai, Hyderabad, Pune, and Ahmedabad,‖

he added.

As of now, the Zeta Meal Voucher is available to the 1500 employees of Turakhia‘s Directi

Group. Turakhia said Zeta is talking to multinational companies to get them on board. ―In

one year, our goal is to get 2 million employees in India to use Zeta meal vouchers,‖

Turakhia said.

Explaining the business model, Turakhia said Zeta will charge merchants 1-2 per cent

commission.

The startup said it will include medical and petrol reimbursements inside the Zeta wallet by

March 2016.

Meal voucher spend in India is about Rs 4,000 crore annually. Turakhia said only 1 million

employees in India use meal vouchers, compared to about 10 million employees who can use

these meal vouchers but do not because companies don‘t issue these vouchers as the entire

process is cumbersome, costly, and difficult to manage.

Sodexo and Ticket are the two biggest players in the meal voucher business in India. Sodexo

Merchant Network is spread across 1,500-plus cities and over 25,000 outlets in India, while

Ticket Restaurant Meal Vouchers — operated by Edenred India — is 14,000-plus outlets

strong and spans more than 3400 cities in India.

―In two months, we aim to have more merchants on our platform than Sodexo and Ticket

have,‖ said Turakhia.

Zeta was launched with $4 million internal funding, and is open to raising more funds if

required, Turakhia added.

The Directi Group is a conglomerate of tech companies operating across India, USA, China,

Dubai and Europe. The current revenues of the group touches $200 million. The Directi

brands include Media.net, Ringo, Flock, Radix, Reseller Club, WebHosting.info, Domain

Advertising, Skenzo and CodeChef.

SWOT ANALYSIS

STRENGTHS:-

Instant. Secure. Accepted everywhere

Modern way of giving your employees tax benefits

Digitized meal coupons that guarantee easy transactions & employee tax benefits.

Save up to INR 9000 in taxes

Accepted across 100000 outlets

100% tax compliant

Send & receive meal vouchers on mobile – in just one click

Zeta is one of the most modern and sophisticated mechanism to provide employees

with tax free meal benefits.

With Zeta, One never forgets to carry my vouchers since they are digitally available

on my phone. It is very convenient to use, something that all companies should adopt

today.

Zeta meal is reserve bank & income tax compliant

No distribution logistics

Meal vouchers never expire


Zeta‘s intuitive technology provides you with a list of Zeta affiliated merchant

outlets, basis your current location so you never have to hunt for an outlet again

WEAKNESSES:-

Still coupon industry needs a boom in the Indian market scenario.

Many orthodox people don‘t understand the concept of digital coupons.

Orthodox merchants still don‘t trust the how money gets transferred directly to their

bank account.

ZETA CALL option is not trusted by many merchants.

ZETA CALL option is cumbersome to deal with.

ZETA itself is quite new in the market so people don‘t trust any new comer very

easily.

It is not still readily acceptable.

ZETA needs more corporate tie ups.

OPPORTUNITIES:-

ZETA is full on digital platform and very new in the market. So it has an opportunity

to gain maximum share from the market.

Moreover the competitors are still luring around the old concept of paper based

coupons and ZETA has been named as a trend setter in the market. So it must bank on

the opportunity that comes in its way.

As ZETA can be accepted at any xyz outlet, it must tie up with maximum no. of

outlets.

THREATS:-

Competition is considered as the biggest threat for any company. Similarly ZETA

also faces tough competition from SODEXO & TICKET RESTAURANT.

Even SODEXO is also coming up with digital card systems.

SODEXO has a greater market share in various states across India. So it can pose a

threat to the current working of ZETA.

Corporate tie ups plays an important role in the revenue earning of ZETA. So it is

very important to crack deals with the corporate companies and even it is very

important to convert SODEXO companies into ZETA companies.

Basically ZETA is very new in the market. So there is always a threat that it will not

work as per the desired standards.

Even ZETA people should be aware about the ill effects of black marketing.

A bad word of mouth will always create a negative impact on the minds of the

customers.

REVIEW LITERATURE

FROM PLACE TO SPACE: Migrating to Profitable Electronic Commerce

Business Models

Jeanne W. Ross

Massachusetts Institute of Technology (MIT) - Centre for Information Systems Research

(CISR)

Michael R. Vitale

affiliation not provided to SSRN

Peter Weill

Massachusetts Institute of Technology (MIT) - Centre for Information Systems Research

(CISR)

November 2001

MIT Sloan Working Paper No. 4358-01

Abstract:

The Internet is a powerful channel that presents new opportunities for touching customers,

enriching products and services with information, squeezing out costs through process

automation, and redesigning internal business processes through enhanced communication

and knowledge sharing. In most firms e-business processes are changing the nature of the

buyer-seller relationship, the role of information technology (IT), and the design of

organizational structures and roles. As firms attempt to capitalize on their existing

capabilities through the Internet, they necessarily disrupt their embedded processes. This

process of leveraging strengths and disrupting habits underlies the migration to e-business

from market place to market space. This report describes that migration using cross-case

analysis of nine firms' e-business efforts.

http://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=25879






Understanding Digital Markets: Review and Assesment

Michael D. Smith

Carnegie Mellon University - H. John Heinz III School of Public Policy and Management

Joseph Bailey

University of Maryland

Erik Brynjolfsson

Massachusetts Institute of Technology (MIT) - Sloan School of Management; National

Bureau of Economic Research (NBER)

October 2001

MIT Sloan School of Management Working Paper No. 4211-01

Abstract:

As the Internet develops into a robust channel for commerce, it will be important to

understand the characteristics of electronic markets. Businesses, consumers, government

regulators, and academic researchers face a variety of questions when analyzing these nascent

markets. Will electronic markets have less friction than comparable conventional markets?

What factors lead to dispersion in Internet prices? What are the major electronic commerce

developments to watch in the coming years? This paper addresses these questions by

reviewing current academic research, discussing the implications of this research, and

proposing areas for future study. We review evidence that Internet markets are more efficient

than conventional markets with respect to price levels, menu costs, and price elasticity.

However, several studies find substantial and persistent dispersion in prices on the Internet.

This price dispersion may be explained, in part, by heterogeneity in retailer-specific factors

such as trust and awareness. In addition, we note that Internet markets are still in an early

stage of development and may change dramatically in the coming years with the development

of cross-channel sales strategies, infomediaries and shopbots, improved supply chain

management, and new information markets.







SIGNIFICANCE OF THE STUDY

E-commerce technology is different, more powerful than previous technologies. E-commerce

brings fundamental changes to commerce. It's a sector who is currently in growth. Few

reasons why E-commerce is so popular:

• E-commerce business operates on the internet platform and today with the internet‘s

power, you could get far more customers than you could by running an actual shop.

• E-commerce business reduces destination barriers. With the internet, distance never

becomes an issue because the consumer can buy anything that he wants with the click of a

mouse.

This study will help us to understand the ecommerce market. Because it is a fact of business

and IS/IT is incorporating these technologies and processes into the company‘s infrastructure.

A separate study of e-commerce is appropriate today, to focus attention, and to alter mind

sets that were developed in a non-e-commerce world

OBJECTIVE OF THE STUDY

The objective of this study is to understand ecommerce domain companies, meal

voucher companies and consumers.

To study how ZETA has emerged in front of the big players like SODEXO &

TICKET RESTAURANT.

To study the financials, growth and technology development of ecommerce sector and

how digital meal vouchers will create an impact on the mind sets of the customers.

To understand the Opportunities, Threats, Strength and Weaknesses of the company.

To understand the prospects the company as in how a company must work in order to

be in top list of Meal Voucher Company and E-COMMERCE Industry as a whole.

KEY LEARNINGS

The basic key learning from the project is how E-commerce industry has created an

impact on the business portals.

Another key learning from the project is that how companies are generating new ideas

and taking their businesses on digital platform

The project helped me in understanding how political, legal, social, economical and

technological aspects affect the working of the company.

CSR has become an integral part for any company to earn accolades from the society.

ZETA is the first ever company into digitised meal vouchers.

Meal vouchers is the only product. It will be followed by other products like cloud

cards, expense cards, tax benefits, super card and many more.

It also helped in making me understand why everyone wants to put forward their

business proposal on digital platform. Simple reason is ―FUTURE IS

DIGITIZATION‖.

SUGGESTIONS AND RECOMMENDATIONS

ZETA should promote more in order to make people aware of its existence.

It should give proper service to its existing and new customers for enhancing

customer loyalty.

It should continue giving exclusive offers which makes it different from its

competitors.

It should also emerge in new markets trying out new products and services.

The company should work out on the negative review of the customers and try to

convert into positive ones.

The app should be developed more and should be costumer friendly.

More user friendly payment options must be developed other than collect card and

zeta pos.

CONCLUSION

It is indeed a great experience to get a chance to work in an ecommerce company as your first

job. Though I have completed one month working in this organisation still the learning is a

lot and my co-colleagues and circle head tries his best to make me understand everything

perfectly so that in future I become more confident and can close more deals. The working

environment is really super where everyone is treated equally irrespective of the post and

designations. It‘s indeed an amazing feeling to be a part of this amazing family. Though we

do get grilling when we are not able to achieve our target, we are also awarded with tagline

like best performer of the month and star performer which encourages us to do our work even

better.

If any merchants comes up with any kind of complaints we try our best to solve it at earliest

in order retain that merchant for a long period. Every company has got pros and cons and

ZETA is a small company which is taking its baby step in order to rise high in the ecommerce

market and with its vision and hard work I believe it will certainly become as one of the best

digital website where consumer will only think of ZETA at first instance whenever they have

to take any service or claim their reimbursements.

REFERRENCES

―FROM PLACE TO SPACE: Migrating to Profitable Electronic Commerce Business

Models‖, Jeanne W. Ross, Massachusetts Institute of Technology (MIT) - Centre for

Information Systems Research (CISR); Michael R. Vitale, affiliation not provided to

SSRN; Peter Weill, Massachusetts Institute of Technology (MIT) - Centre for

Information Systems Research (CISR), November 2001, MIT Sloan Working Paper

No. 4358-01.

―Understanding Digital Markets: Review and Assesment‖, Michael D. Smith,

Carnegie Mellon University - H. John Heinz III School of Public Policy and

Management, Joseph Bailey, University of Maryland, Erik Brynjolfsson,

Massachusetts Institute of Technology (MIT) - Sloan School of Management,

National Bureau of Economic Research (NBER), October 2001, MIT sloan school of

management working paper no, 4211-01





BIBLIOGRAPHY

www.zeta.in

www.directi.com

www.wikipedia.com

http://www.zeta.in/

http://www.directi.com/

http://www.wikipedia.com/

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