Boat
| ISIN | 🆔 |
|---|---|
| Industry | Audio, Gadgets |
| Founded 📆 | 2016[1] |
| Founder 👔 | Aman Gupta, Sameer Ashok Mehta |
| Headquarters 🏙️ | , |
Area served 🗺️ | |
Key people | Vivek Gambhir,CEO[2] |
| Products 📟 | Wireless speaker, headphones, Smartwatch |
| Members | |
Number of employees | |
| Parent | Imagine Marketing Pvt. Ltd[1] |
| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
| 📇 Address | |
| 📞 telephone | |
Boat is an Indian company that manufactures audio equipment and gadgets.[1] The company started in 2016 and is headquartered in Delhi, India.[3][4]
History
It was founded by Aman Gupta, who used to work at JBL, and Sameer Mehta, who was in the computer gaming peripheral distribution business.[3][5]
The company started as an E-commerce-focused brand on Amazon India. Later, it developed its own platform and also expanded its offline channel.[6]
Amid a rising anti-China sentiment in India during the Boycotts of Chinese products in 2021 China–India skirmishes, the company reported that its products were manufactured in China. Because of this sentiment, many Chinese-manufactured products were targeted. Boat announced a shift to India for manufacturing but claimed no losses because of anti-China sentiment, citing the Production Linked Incentive (PLI) scheme for wearables by the government of India as the reason to shift manufacturing.[5]
The company signed a joint venture with electronics manufacturer Dixon Technologies (India), to manufacture its wireless audio products domestically, moving away from China.[7][2]
In December 2021, the company founder Aman Gupta appeared in Shark Tank India, an Indian Hindi-language business reality television series as a panel of investors or sharks.[8]
In January 2022, the company acquired Singapore-based end-to-end smart IoT product development company KaHa Pte Ltd.[1][9]
In January 2022, the company filed an IPO of ₹2,000 crore (US$280 million) at a company valuation of ₹11,250 crore (US$1.6 billion)-₹15,000 crore (US$2.1 billion) at SEBI.[10][11]
See also
References
- ↑ 1.0 1.1 1.2 1.3 Mishra, Digbijay. "Boat set to float Rs 2,000-crore IPO, eyes $1.5-2 billion valuation". The Economic Times. Archived from the original on 2022-02-27. Retrieved 2022-02-17.
- ↑ 2.0 2.1 Ambwani&, Meenakshi Verma. "boAt forms jt venture with Dixon Tech to manufacture wireless audio products in India". www.thehindubusinessline.com. Retrieved 2022-02-17.
- ↑ 3.0 3.1 Ananya Bhattacharya, qz com. "An Indian manufacturer of audio products is beating its Chinese rivals by manufacturing in China". Scroll.in. Retrieved 2022-02-17.
- ↑ "Warburg Invests $100 mn in boAt". Hindustan Times. 2021-01-06. Retrieved 2022-02-17.
- ↑ 5.0 5.1 Bhattacharya, Ananya. "How a young Indian brand is beating its Chinese rivals at their own game". Quartz. Retrieved 2022-02-01.
- ↑ Jan 6, Digbijay Mishra / TNN / Updated; 2021; Ist, 09:25. "boAt eyes make-in-India push with $100 million from Warburg Pincus - Times of India". The Times of India. Retrieved 2022-02-17.
- ↑ Reporter, S. I. (2021-01-07). "Dixon Tech gains 5% on pact with boAt for new twin wireless speakers". Business Standard India. Retrieved 2022-02-17.
- ↑ Mittal, Apoorva. "Ashneer Grover, Aman Gupta fuel Shark Tank meme explosion". The Economic Times. Retrieved 2022-02-17.
- ↑ "Imagine Marketing (boAt) signs definitive agreement to acquire KaHa Pte Ltd". The Financial Express. Retrieved 2022-02-18.
- ↑ "Teji Mandi Explains: Here's everything we know about the Boat IPO!". Free Press Journal. Retrieved 2022-02-18.
- ↑ "Boat-owner Imagine Marketing files for Rs 2,000 crore IPO". The Economic Times. Retrieved 2022-02-18.
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