2020 has been a year that none of us expected it to be. At ValetEZ, we got into the year with an ambitious growth plan- scaling parking transactions on the platform, building out the user side of the story, expanding to new cities and growing the team. Little did we know what was around the corner and that Covid-19 would bring the country to a halt in March. As we got into the first few days of the lockdown, we saw the impact starting to unfold as many of our partners- restaurants, malls, tech parks had to shut down and we saw parking transactions fall to negligible in April. This was a testing time for us as we had to regroup and rethink our strategy and plan. We also knew that if we could weather this storm, then it would make us stronger as a team.
In April, we made a war cry across all fronts:
- We asked our teams for help and support and they truly surpassed every expectation we had by coming together like never before
- We doubled down on our product development efforts so that we would emerge with a stronger platform story
- We optimized our costs of operations since we did not know how long the situation would last
- We stayed connected with our partners and customers and they all assured us that they would be back, once this is over
And everyone stayed true to their words. Come September, we saw that the continuous efforts everyone in the team had put in had got us through the worst of it. We saw parking transactions start to go upto 60-70% of pre-Covid level by October, old customers come back and new partnerships starting to materialize. On the product side, we managed to launch the first FasTag enabled contactless parking solution in India, launch our IoT controllers 2.0 (#madeinIndia) and roll out the EZ app for our users, all during the last 6 months.
As an entrepreneur, it has been a difficult year no doubt. But it’s also been a year of immense learning – a year that’s taught us to persevere more than ever, trust the team like never before and be thankful for our partners and clients for standing by us.
Here’s wishing, hoping and knowing that 2021 will be a different and better year for all of us because 2020 has made us a better version of ourselves for sure!