Magicpin enables hyperlocal online commerce in around 50 cities.
Fashion and food are the largest categories, accounting for about 50% and 20-25% of GMV respectively.
Magicpin has a large existing merchant base and minimal acquisition costs, making it well-positioned to be the largest seller-side app on the ONDC platform.
Merchants are opting for ONDC-enabled platforms to diversify their customer base.
Magicpin earns an average take rate of around 20% from merchants and provides discounts of around 10% to customers.
ONDC has led to a significant scale-up in food delivery orders on Magicpin's platform.
The economics of ONDC, including take rates, are still being determined by market forces.
Magicpin has strong backing from investors, including Zomato, and is focused on horizontal growth.
It has a large merchant base, connects them with local buyers, and offers features such as deals, discounts, and home delivery.
Magicpin is CM2 positive and on track to achieve EBITDA breakeven.