The Rooter Platform Loss Widened

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Rooter is a sports-focused social media and content platform that allows fans to engage with their favorite sports teams and athletes. According to recent reports, the company spent Rs 52 crore ($7 million) to generate revenue of just Rs 11 crore ($1.5 million) in the fiscal year 2021-2022. The reports suggest that Rooter’s losses have been increasing steadily over the years, with the company losing Rs 8 crore ($1.1 million) in the previous fiscal year. The company’s revenue, on the other hand, has remained relatively stagnant, with the Rs 11 crore ($1.5 million) generated in FY22 only marginally higher than the Rs 10 crore ($1.3 million) generated in the previous fiscal year. It’s worth noting that Rooter is a relatively young startup, having been founded in 2016. The company has received funding from several prominent investors, including Paytm founder Vijay Shekhar Sharma, and has been expanding its offerings in recent years to include live streaming of sports events and e-commerce. Despite the company’s losses, Rooter remains optimistic about its future prospects, with plans to expand its user base and revenue streams in the coming years. The company has stated that it is focused on building a sustainable business model and is willing to invest in its growth in the short term to achieve long-term success. Overall, Rooter’s financial performance highlights the challenges faced by startups in the highly competitive Indian market, particularly in the sports and media sectors. While the company’s losses are significant, its continued investment in its platform and user base suggests that it remains committed to its vision and is willing to take risks to achieve success. Rooter was founded in 2016 by Piyush and Dipesh Agarwal, with the aim of creating a social platform for sports fans. The platform allows fans to interact with each other, participate in quizzes and polls, and follow their favorite sports teams and athletes. The company has raised funding from several prominent investors, including Paytm founder Vijay Shekhar Sharma, Bollywood actor Boman Irani, and Dhruv Chitgopekar of Kwan Entertainment. In total, Rooter has raised over $4 million in funding.

In recent years, Rooter has expanded its offerings to include live streaming of sports events and e-commerce, with plans to further diversify its revenue streams in the coming years. The company has stated that it is focused on building a sustainable business model and is willing to invest in its growth in the short term to achieve long-term success.

Despite the challenges faced by startups in the Indian market, particularly in the sports and media sectors, Rooter remains optimistic about its future prospects. The company has stated that it is committed to its vision of creating a social platform for sports fans and is confident that it can achieve success in the highly competitive Indian market.