Market size
A bottom-up view of the opportunity: local businesses across India, Kerala and the two cities Deelo already operates in, with assumptions stated rather than hidden.
In short
Deelo sizes its market bottom-up from business counts multiplied by realistic revenue per business, rather than taking a share of a large published figure. The serviceable obtainable market is the cities already live; the serviceable addressable market is Kerala; the total addressable market is local businesses across India.
Bottom-up, with assumptions on the page
Top-down sizing — taking a percentage of a large industry number — tells an investor nothing about whether a business can be built. Deelo sizes from the unit up: how many local businesses exist in a geography, and what one realistically pays per month.
The assumptions are stated on the deck and should be replaced with the company's own validated figures during diligence. Business counts are public-order estimates; blended ARPU is a planning assumption.
City by city, density first
Deelo does not spread thin. One city is won completely before the next is opened, because density decides unit economics and density does not transfer between cities.
The sequence is deliberate: prove the loop in Kottayam, prove it repeats in Kochi, then make launch cost, ramp time and retention predictable enough that the third city needs a playbook rather than a founder.
- City by city — one city won completely before the next opens
- Density first — depth inside a postcode beats thin presence across a state
- Bottom-up — start where the aggregators will not go, then grow into the metros
Related reading
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