NowFloats

About NowFloats

NowFloats, established in 2012 by Jasminder Singh Gulati, Nitin Jain, Ronak Kumar Samantray, and Neeraj Sabharwal, emerged from the collective realization that local small and medium-sized enterprises (SMEs) in India required a stronger digital presence to connect with a burgeoning online customer base. The founding team brought a diverse set of skills to the venture; Gulati's background includes roles at Microsoft and an MBA from the Indian School of Business, while Samantray, an engineering graduate from the University of Hyderabad, had prior experience at Microsoft Research. This blend of business acumen and technical expertise shaped the company's mission to digitize India's vast SME sector.

The company's core offering is a suite of digital tools designed to help businesses get online and attract customers. NowFloats operates on a Software-as-a-Service (SaaS) model, providing businesses with an SEO-optimized, lightweight mobile website that is easy to update via SMS or the company's proprietary app. This approach directly addresses the challenge many small business owners face: a lack of time and technical expertise to manage a complex web presence. The platform's key feature is its ability to create a dynamic online identity that is easily discoverable through search engines, effectively enabling offline businesses to compete in the digital marketplace. Revenue is generated primarily through subscription fees for its platform and related services.

A significant milestone in NowFloats' journey was its acquisition by Reliance Industries Limited in 2019. This strategic move integrated NowFloats into Reliance's Jio ecosystem, aiming to enhance the digital capabilities offered to merchants. Prior to the acquisition, NowFloats had secured multiple rounds of funding from investors such as Blume Ventures, Omidyar Network, and IIFL, demonstrating investor confidence in its business model and market opportunity. The acquisition provided NowFloats with substantial resources and a vast distribution network, positioning it to accelerate its mission of empowering SMEs across India.