India-Based Startups: A New Force in the US Consumer Market

In recent years, a significant shift has been observed in the global startup ecosystem. India-based startups, once confined to the domestic market, are now making their mark on the international stage, particularly in the United States. One such success story is PocketFM.

PocketFM: The Rising Star

Founded by alumni of the prestigious Indian Institute of Technology (IIT) Kharagpur, PocketFM has emerged as a game-changer in the digital entertainment industry. Often referred to as the “Netflix for audio,” the platform has amassed over 100 million users, demonstrating the immense potential of audio-based entertainment.

PocketFM’s success is not just confined to user numbers. The platform has managed to secure the 14th spot in the Entertainment category of the US Apple App Store, a significant achievement considering the competitive nature of the US market.

PocketFM’s success is not just in terms of popularity; it’s also reflected in its financial performance. The startup has generated a staggering $150 million in revenue. What’s even more impressive is that a significant portion of this revenue, over $100 million, comes from the US market. This achievement underscores the startup’s successful penetration into the US consumer market.

The financial success of PocketFM has catapulted it to the coveted ‘Unicorn’ status, a term used in the venture capital industry to describe a privately held startup company valued at over $1 billion.

The success of PocketFM is a testament to the global ambitions of India-based startups. It’s a clear indication that these startups are not just surviving but thriving in the competitive US market. As more India-based startups follow in the footsteps of PocketFM, we can expect to see a significant shift in the global startup landscape in the years to come.

You may also like: