List of India’s Successful Young Entrepreneurs

by Jasmeet Singh
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In the last ten years, India has steadily established a name for itself in the startup world. Today. India is home to at least 35 unicorn startups that are led by India’s successful entrepreneurs. (source: Wikipedia)

Such has been a surge of unicorn startups in India that even a pandemic like Covid has not stopped Startups like Nykaa, Unacademy, Zerodha, Razorpay, and Postman enter the coveted unicorn startup club. (Source: Your Story)

With the growth of the startups came the growing list of young millionaires who led these successful startups from strength to strength.

Yeah – I know I keep asking you guys to keep your head grounded and not get disillusioned by all the financial numbers you see in media of these young entrepreneurs.

But then you, my friends pretty much have inundated my mailbox with the request to publish something on the life of Bollywood wives…Cough-2 – my bad, don’t even try this worst in the decade reality show from K.J.

To put it in perspective – The best thing (in a funny way) about the serial is that fake American accent of Neelam Kothari and Its so bad that it puts my fake Aussie accent to shame.

Speaking of Australia, I recently published a list of Young & famous Australian Entrepreneurs

Anyways – we are not here to discuss the made-up fancy lives of Bollywood wives. Instead, we are here to look at the real struggle and success stories of some remarkable young men and women who have overcome all adversities to establish their name.

So, without further ado, let me present you the list of India’s successful entrepreneurs (young). The successful entrepreneurs’ list provides information in a structured format for entrepreneurs, the company founded by them, their estimated worth, the journey to success and a famous quote from them.

Here we go with the list of famous young entrepreneurs in India (successful).

Table of Contents

1.   Byju Raveendran

Byju Raveendran

Once [ pupils ] start experiencing the advantages of learning online, we expect a lot of them to continue learning that way.”

Your startup is the centre of attention when a company like Facebook decides to invest in your Business.

And this is what happened to Byju.

Byju became a prominent name in the Indian startup scene with investment coming from Facebook and other V.C. powerhouses like Tencent and Naspers Ventures. (source: Byju)

The man behind Byju’s success is Riju Ravichandran. He is the first name on our list because of his recently found success and the buzz Byju has managed to create in such a short time frame in India and he is the first name on our successful entrepreneur’s list.

Founder of the company: the co-founder of Byju’s, Think & Learn

(Source: Forbes | The week)

Earlier days

Raveendran, an engineer by profession, always had a passion for teaching students.

He started his career by teaching maths to students.

Raveendran always had strong exposure to teaching as both of his parent, who worked as educators.

Raveendran enjoyed teaching so much that he gave up on his engineering job. He started with free workshops and only charged money when students were comfortable with his teaching style and subscribed to his advance module workshops.

His teaching methods were always famous and had a lasting impact on students. In addition to teaching maths, he helped students clear entrance exams for IIM.

It was the group of 8 of his students who helped him set up the Byju app – an app that has changed the landscape of the EdTech industry in India.

Source: Starsunfolded

The road to fame

Byju offers highly adaptive, engaging and effective learning programs for students in classes 1 -12 (K-12) and competitive exams like JEE, NEET and IAS.

Founded in 2009, Byju currently operates with 15,000 employees at their headquarters in Bengaluru, India.

Raveendran started in 2006-07 by teaching his friends. His first class included  35 students in one class. By 6th class, the number went up to as high as 1,200 students.

Making it bigger and better was his motto from day one of starting his teaching journey.

In three years, Raveendran expanded to nine different cities teaching CAT (Common Aptitude Test) aspirants first and then school students.

The largest session conducted included 24,000 students simultaneously at an indoor stadium. (Source: Forbes India)

Byju’s obtained investment funds of $18 million during Series A which was followed by a significant Series C contribution of $75 million by Sofina, Sequoia Capital and Aarin Capital.

On Sept 2016 Lightspeed Venture Partners, Times Internet and Chan Zuckerberg Initiative joined in and brought $50 million into the table.

The money didn’t stop there and investors continued to trust their funding as far as Sept 2020, the year of the pandemic – getting an accumulative investment of $1.93 billion.

Today, Byju’s focusses on helping students excel in their exam result.

Their excellent work is reflected in their paid user renewal rate, which amounts to 85% of their user base each academic year.

Source: Startup Map

Did you know?

Byju’s collaboration with Disney in 2019 marked another success for the company.

Targeting students 6-8 years old offering interactive learning app for subject Math and Science.

Interestingly, the new app will offer personalized learning programmes featuring Disney’s timeless stories and characters from Disney Princess, Frozen, Cars, and Toy Story franchises.

Source: Business Standard

2. Sachin Bansal

Sachin Bansal

“The core of any business is to earn money. You have not done your job well until you find a stranger who is willing to open his/her wallet to give you money for the services/products that you are offering. The next step after that is to focus on scaling it up well.”
Source: Your Story


Founder of the company:
Flipkart

Net worth: US$1.2 Billion

Company’s worth: US$ 20 Billion

(Source: Forbes | The Week)

Earlier days

Sachin Bansal requires no introduction. He was the co-founder of Flipkart – a startup that brought India on the world’s startup map.

Sachin Bansal and his entrepreneurial story have inspired a whole generation of techies to start their entrepreneurial journey.

Sachin Bansal is an alumnus of IIT, Delhi from where he graduated in C.S in 2005. Sachin started his corporate career by joining Techspan – a company he left within a few months to join Amazon in 2006.

In 2007, Sachin quit his job at Amazon to start his venture.

Source: People Pill

The road to fame

Sachin conceptualized the idea to start Flipkart during his time at Amazon. Sachin wanted to establish an e-commerce company like Amazon that sells made in India products and is more focused towards the Indian market.

Flipchart was the earlier version of Flipkart.

Later, in October 2007 along with his partner Binny Bansal, they started Flipkart – a company that will change the face of ecommerce industry in India.

The earlier version of Flipkart only sold books in the Bangalore region, but the company grew steadily and soon, they were selling everything under the sun in the ecommerce space.

Accel Partners started the funding story of Flipkart. The company came into the picture by investing US$1 Million in Flipkart. This funding round was followed by another funding of US$10 Million from U.S. Tiger Global company.

In 2014, Flipkart acquired Myntra.com, another web shopping company for Rs₹2000 crore.

Since then, Flipkart acquired a series of companies, including famous Indian startups – PhonePe and Letsbuy.

The founder duo of Sachin and Binny Bansal were nominated for the best entrepreneur award by Ernst and Young award.

Source: Get In Startup

In 2018, Wallmart acquired a 77% stake in for a whopping US$16 Billion which bought a windfall for Sachin Bansal who at the time had a 5.5% stake in Flipkart. It is estimated that Sachin Bansal made Rs₹6700 Crore out of this deal.

(Source: Yourstory | IndiaToday)

However, all was not rosy after the deal went through.

Sachin was asked to step down from the role. He later quit the company he started around 14 years with his college friend Binny Bansal.

Did you know?

Did you know Sachin Bansal is a gaming freak!

After Flipkart’s acquisition by Wallmart, Sachin has taken a step back and is enjoying his time playing games.

During his college days, his favourite games were Age of Empires (a series of historical real-time strategy games) and Quake III Arena (multiplayer-focused first-person shooter game).

Source: Economic Times

3. Binny Bansal

Binny Bansal

 

“Customer experience is the top metric at our level. Everybody is measured on that.”

Source: Entrackr

Founder of the company: Co-founder Flipkart

Net worth: US$1.2 Billion

Company’s worth: US$ 20 Billion

(Source: Forbes)

Earlier days

Binny Bansal like Sachin Bansal is an alumnus of IIT, Delhi. After graduation, he started his career with Sarnoff Corp, a research and development company. After Sarnoff, Binny worked with Amazon where he and Sachin decided to start Flipkart.

Source: Wikipedia

The road to fame

Sachin and Binny’s Bansal’s success story are connected to Flipkart’s rise to the top of the Indian startup scene.

In Flipkart’s earlier days, they both started by delivering books to customers. Binny shares a story of personally delivering books to Kalyan Krishnamurthy, the current CEO of Flipkart.

The story of Flipkart journey from a two-story building in Koramangala, Bangalore to a company that was acquired by U.S. retailer Walmart is a part of the folklore.

While Sachin’s roles were thinking on website design, SEO and marketing, Binny Bansal looked after the supply chain, the technology and the backend systems.

COD or cash on delivery was the game-changer during the pike of success for Flipkart. Binny believed that customers wanted to get the product first and then pay.

Another critical addition to the company’s growth plans was Ekart, Flipkart’s logistics unit.

Ekart – started with a team size of 20 in Bangalore in 2010 could deliver a 50% repeat rate within a few months of starting.

Soon, the company was serving 20 cities across India with 1,000 delivery executives in the next year. (Source: Inc42)

However, what is also interesting about the story is the part where Binny and Sachin Bansal parted ways with Flipkart, after the acquisition of Flipkart by Walmart.

After the acquisition, Binny continued at the group CEO and chairman at the Flipkart group; Binny parted ways with Flipkart in 2018 due to allegations of personal misconduct. (Source: Economic Times)

At the time of the acquisition, Bansal’s stake in Flipkart (3.52%) was valued at US$159 million. (source: Business Standard)

Did you know?

Binny was rejected twice by Google.

Both Binny and Sachin were involved in the delivery job for Flipkart to understand the customer better.

The customers they visited that recognized them and took pictures and got autographs from the celebrated duo.

Source: Time of India

4. Nithin Kamath

Nithin Kamath

 

“Do not chase money; let it float towards you.”

Source: Trade Brains

Founder of the company: Zerodha

Net worth: USD 1.55 Billion (combined wealth of both Nithin and Nikhil Kamath)

Company’s value: USD 3 Billion

(Source: Business Insider | Yourstory)

Earlier days

At the age of 17, Nithin Kamath started his entrepreneurial journey by managing his father’s trading account.

In between, Nithin worked in a call centre for three years and then worked as sub-broker for Reliance Money before starting Zerodha with his younger sibling Nikhil Kamath in 2010.

He is an avid poker and basketball player, and a martial arts enthusiast.

Source: People Pill

The road to fame

Nithin’ ‘s journey to leading one of the most famous startups in recent years wasn’t easy.

Nithin made and then lost money during the boom and crash periods in the stock exchange (2001-2002 | 2009-2010) in India. Nithin was also quite successful in earning a substantial amount of commission as a sub-broker for reliance.

After spending close to 10 years in the stock trading world, Nithin decided to turn into a full-time broker.

The idea was to use technology to build a platform that targeted young tech-savvy investors who are turned off by the high stock brokerage fees charged by the existing brokers in the industry.

In 2010, Zerodha (Zero + Rodha that means obstruction in Sanskrit) was started with a team size of 5 employees.

Today, the platform is the biggest trading platform in India and has close to 22 lakh trading accounts with more than 5 million trades taking place on the platform daily.

The experience he earned during years of telesales helped Nithin bootstrap Zerodha.

All efforts paid off when he was named as one of the “Top 10 Businessmen to Watch Out for in India” by The Economic Times(2016).

This award was followed by a series of awards like – E & Y Entrepreneur of the year award in 2017, Economic Times (E.T.) “Startup of the Year 2020” and NSE Retail broker of the year 2019 and 2018.

After the market crashed in March 2020, new investors started to pick up stock trading and buying large-cap blue-chip equity. Also, the median age investor changed to 30+ and this contributed to a positive eco-system (Source: Trade Brains | Live Mint).

Did you know?

Rainmatter, fintech fund and incubator initiated by Zerodha (mainly as an angel investor) incubates eight startups in various industries.

The Bangalore based incubator provides well-equipped workspaces, mentorship, and funding (US$100K – US$1M) in place of a minority stake.

Rainmatter also offers direct industry connects and mentorship to elevate their client product to the rest of the world

Rainmatter Climate, another fintech fund by Zerodha, focuses on funding grassroots social organizations, individuals and startups working on climate change. This extension fund channel of Rainmatter currently funding two organizations; Terra.do and Blu Sky.

An interesting fact about Zerodha is that he is the only successful entrepreneur on our list in India who has bootstrapped his company to the unicorn club.

5. Ritesh Agarwal

Ritesh Agarwal

 

“It is extremely important to build something that a 100 people absolutely love using rather than make something that a 1,000 people would just, kind of, like.”

Source: Hotel Management

Founder of the company: OYO

Net worth: US$1.1 billion

Company’s value: US$8 billion

(Source: Economic Times | Business Insider)

Ritesh Agarwal, a resident of Odisha state in India, graduated from St. Johns Senior Secondary School. In 2011 after graduation, Ritesh moved to Delhi for college.

In 2013, Ritesh dropped out of college after getting selected for the Thiel Fellowship. He dropped out of college and was selected for the Thiel Fellowship in 2013.

Thiel Fellowship was initiated by Peter Thiel, the early Facebook investor and PayPal co-founder. (Source: Wikipedia)

Recently at the age of 24, Ritesh became the world’s second-youngest billionaire next to the 21 years old cosmetic entrepreneur; Kylie Jenner. (Source: Live Mint)

Earlier days

Agarwal comes from Bissam, small-town south of Odisha, a region known to teem with Naxalite activity. In his earlier years, he used to sell SIM cards in his hometown.

In 2011, Agarwal, moved to Delhi to pursue his entrepreneurial journey which came after he decided to not sit for engineering entrance exams.

VentureNursey, a fund based out of Mumbai provided Ritesh with a seed funding of around Rs₹30 lakh.

During the preceding years of running Oravel, Agarwal stayed at over 100 bed-and-breakfast rooms.

He was motivated to start OYO Rooms so that he could be in control of the T.V. remote – something Ritesh could not do as a child when he stayed with his relatives.

The idea to build OYO, which means On Your Own sparked since he always wanted to take control of the T.V. channel whereby his relatives love watching soap operas and he prefers Cartoon Network. (Source: Economic Times)

The road to fame

Ritesh started Oravel (now OYO rooms) – budget accommodation in 2011.

After being selected to the Theil’s scholarship, Ritesh got back to his idea with a seed funding of US$100,000 in his pocket (Source: Times of India).

By 2014, Oyo rooms have closed its first round of Series A funding which was followed next year by a US$25 Million grant from Lightspeed India, Sequoia and others.

The most significant funding break came for OYO in the form of a US$100 Million Series funding by the Japanese fund – Softbank.

All these quick rounds of funding helped OYO accelerate its growth. By the end of 2015, Oyo had established presence to many major cities in India, including Bengaluru, Mumbai and Gurgaon.

By the end of 2017, OYO had expanded to Malaysia and Nepal, which was followed by further expansion in Dubai, China, UAE and Indonesia in 2018.

In the year 2019, OYO finally entered the unicorn club by raising US$800 million more from Softbank and another US$200 million from its existing investors (Source: Entrepreneur).

The year also was a landmark year for Oyo as it managed to register a revenue of almost US$950 Million, which was 4.5 times increase on its yearly income.

Oyo plans to overtake Marriott, the current world’s largest hotel brand with about 1.4 million rooms by 2023.

Did you know?

What has helped Agarwal the most in his entrepreneurial journey is his hands-on approach.

And later, as OYO Rooms chief, checking into a new room every night was also Business. He believed that by staying at each of the hotels, he could better understand both customer and hotel owner expectations.

Agarwal was the only dropout heading a team of 10-20 people from IIMs, more than 200 people from IITs, HBS and Ivy leagues.

Source: Economic Times

6. Deepinder Goyal

 

Deepinder Goyal
“While I was working at Bain and Company, I noticed people queuing up in the pantry every day trying to look for menus to order food and that’s when the idea struck me – what if we could access these menus online.”

Source: Startup Stories

Founder of the company: Zomato

Net worth: US$ 50 to 70 million

Company’s worth: US$3.4 Billion
(Source: Pymnts)

Earlier days

Deepinder Goyal is an alumnus of IIT Delhi (god…I got to check their food canteen. I do not know what they mix in their food. Bansals, Goyals – all these tech geniuses are from IIT Delhi 😉)

After graduation, Deepinder started his career with Bain and Company as a Senior Associate Consultant.

For the next four years, Deepinder worked as a consultant and worked in parallel for his company Zomato.com (earlier: foodiesbay.com).

The road to fame

Goyal started his entrepreneurial journey by building a website foodlet.in which was later changed to foodiebay.com with help from his wife and her sister.

All three of them worked on the venture, along with their full-time jobs. Deepinder also drove around the city collecting restaurant to add to the website. (Source: Karostartup )

On 10 July 2008, Deepinder Goyal partnered with Pankaj Chaddah and continued to build foodiebay.com, later changing the name to Zomato.com with an initial list of 1000+ restaurants in Delhi NCR.

By 2012, Zomato had around 2.5 million website visitors. By 2014, the number increased dramatically to 62.5 million.

As per Wikipedia, Zomato raised close to US$16.7 Million from Info edge India (the company behind Naukri.com) in this time duration.

In the next few years, Zomato had a series of funding rounds, the most substantial of which was the US$210 million funding raised by Ant Financials – Alibaba’s payment affiliate in 2018 at an evaluation of US$2 Billion.

Zomato diluted 10% of its stake for this funding.

Since 2014, Zomato as an organization has also been on a shopping spree buying startups that will contribute to Zomatos’ success in the global market.

Some of the startups acquired being Menu Mania, Lunchtime.cz, Urbanspoon and most recently, Ubereat’s delivery business in India.

Today, Zomato is one of the biggest names in restaurant directory space and is a prominent name in the food tech space rivalled only by Yelp.com (a famous food portal in the USA).

(Source: Yo Success | Wikipedia)

Did you know?

Today, Zomato is currently available in 24 countries in 10 languages.

Zomato provides an option for foodies to follow their friends so that they can know what their friends eat and what they like.

Users can also check out a new restaurant when selecting the preference to discover restaurant listed near their current location.

7. Bhavish Agarwal

Bhavish Agarwal

 

“I don’t have a car and have decided never to own one. All things can be done by every company in the world. Apple builds a phone, and so does Samsung. It’s not about being different but about being better at what you do.”

Source: The Famous People

Founder of the company: Ola Cabs

Net worth: INR 31 Billion

Company’s value: US$10 Billion

Source: Wikipedia | BusinessInsider

Earlier days

Bhavish Aggarwal joined Microsoft as a research intern during college days and later (after graduation), he worked with Microsoft as an assistant researcher.

In his two year tenure with Microsoft, Bhavesh also ran a blog called desitech.in (Source: The Famous People).

The story behind the inception of Ola Cabs is an interesting one. As told by Bhavish, ‘Ola cabs was started because of an incident which involved him renting a car for a weekend trip from Bangalore to Bandipur’.

The car’s driver stopped the vehicle in Mysore and demanded more money that led to the group taking a bus to finish the trip.

The incident prompted Bhavesh to think of a car rental company that is web-based and offers more transparency and economical prices for its customers.

Source: Wikipedia

The road to fame

Bhavish and Ankit Bhati, a friend from IIT days started Ola cabs (earlier olatrips.com) in December 2010.

The first city they selected to cater to their services was Mumbai. Using Ola cabs, you could book outstation cabs from Mumbai.

Without initial seed capital, the going was never easy for the young entrepreneurs and they had to rely on the phone to offer on-demand rides to customers.

Things changed for the duo after they received a seed funding of US$5 million from Tiger Global Management which was followed by more funding from Rehan Yar Khar, Anupam Mittal, and Snapdeal’s Kunal Bahl even though he had no prior business experience.

By 2014, Ola had received funding from two of the biggest V.C. firms in the world – Softbank and Sequoia Capital, which helped it capture the majority of the Indian market in its segment.

It is estimated that Ola had a 60% market share with around 15 lakh bookings/day.

The funding helped the company grow drastically and capture the lion’s share of Indian Market.

In January 2018, Ola entered the Australian market which was followed by its expansion in Newzealand in September 2018 and the U.K. in March 2019 (Source: The Famous People)

Ola’s market push in the U.K. was further helped by Uber’s license being stripped by the local authorities after it was discovered that around 14000 registered drivers with Uber had fake Ids.

The rapid expansion has led to both co-founders to restructure their role for Ola.

Bhavish and Ankit had split the company’s responsibilities. While Bhavish is responsible for overseeing Ola’s international expansion, Ankit is leading the company’s growth in the domestic market (Source: Entrepreneur)

Did you know?

Ankit and Bhavish are two of the youngest billionaires in India. They both turned billionaires at the age of 25 and 26.

8. Falguni Nayar 

falguni nayar nyka

“Think big, but start small.”

Founder of the company: Nykaa

Net worth: INR 5400 Crores

Company’s worth: US$1.2 Billion 

Source: The Hindu Business Line

Earlier days

Falguni Nayar is a Gujrati who was born and brought up in Mumbai.

Coming from a business family, she is said to have learned the ways of running a business at a young age.

Falguni graduated from IIM Ahemdabad and then, worked with Kotak Mahindra Bank from next 19 years where she climbed to the post of MD, investment banking arm of the bank.

It was in the year 2012 while both of her children were in the USA to further their studies, she decided to take the enormous leap of faith.

She quit her job at the age of 50 and started her entrepreneurial journey by entering the cosmetics and beauty market.

This choice of leaving an established career behind and entering the world of entrepreneurship was driven by two factors; her love for makeup, and the growing potential of the online market place in India.
Source:  Glow and Lovely Careers

The road to fame

As per Nayar, “I wanted to replicate that (Sephora) in India — a multi-brand retailer selling the best beauty, plus a lot of education to help customers. I wanted to stand for those women who want to be beautiful for themselves, not for men or other women. Indian women were ready for that and that is why they related to Nykaa. It was a type of empowerment.”

Today, Nykaa is an online store that sells beauty, cosmetics products from some of the renowned brands like Kaya.

The company recently expanded into offline space by opening 17 stores across the country. 

Nykaa has raised a total of US$145.9 million in funding over 12 rounds.

Fidelity Management and Research Company and Alia Bhatt are the most recent investors.

Nykaa acquired 20Dresses on March 22, 2019. (Source: Crunch Base)

The latest round comes after Nykaa raised 1.66 billion rupees (US$22.5 million) from hedge fund Steadview Capital in March at a valuation of US$1.2 billion.

It also unveiled that it recorded 18.6 billion rupees (US$252 million) in revenue for the year ended March 31.

It is expecting a 40% growth in consolidated revenue in the ongoing fiscal year. (Source: Tech in Asia)

Falguni Nayar has won a series of awards across the globe. Some of the prominent ones being:
• Vogue Beauty Awards – Beauty Game Changer in 2017.
• Business Today’s – Most Powerful Women in Indian Business in 2011
• Franchise India Star Retailer Awards: Health & Beauty Retailer of the Year and Women Entrepreneur of the year in 2017
• Best Social Media Brand – Ecommerce: SAMMIES -2018
• Best Use Of Content To Commerce Content Marketing Summit Asia 2019
• BW Disrupt Women Entrepreneur Awards 2019

Source: Magazine Xpert

Did you know?

In 2018, Nykaa launched Nykaa Fashion, its first venture line of products that are not part of the usual beauty line of products sold by the company.

Nykaa Fashion is led by led by Adwaita Nayar, daughter of founder Falguni Nayar and an Alumnus of Harvard.

9. Sriharsha Majety

Sriharsha Majety

 

‘Growth is about learning and evolving with the different variables and moving parts.’
Source: 2 Flexiple

Founder of the company: Swiggy

Net worth: Rs1,400 crore

Company’s worth: US$3.6 billion.

Source: Wikipedia | Economic Times

Earlier days

Sriharsha Majety is from a family of entrepreneurs. His father runs a restaurant in Vijayawada, and his mother is a doctor by profession and has her clinic.

Sriharsha Majety graduated from BITS-Pilani and then completed his post-graduation from IIM-Calcutta. He worked for a short time duration as an investment banker in London before starting his first venture Bundl – a logistics aggregator with his partner Nandan Reddy – An online platform that helped SMBs connect to courier companies.

Sriharsha Majety’s love for travelling took him to backpacking trips across the world. An experience he says helped him start his entrepreneurial journey.

Source: Your Story

The road to fame

In 2014, Swiggy – India’s first online food ordering system was launched from the I.T. hub of India, Bangalore.

The company soon established a good reputation for itself by offering record delivery times, a visual menu and a platform that was highly recommended by users.

With over 12,000 restaurants in their roster, industry best average delivery time of 37 minutes and reduced overhead costs, Swiggy has positioned itself at the top of this field.

By 2015, Swiggy started attracting investments.

The first was a US$2 Million investment from Accel and SAIF Partners, along with additional investment from Norwest Venture Partners.

In the next year, Swiggy raised US$15 Million from new investors Bessemer Venture Partners and Harmony Partners and existing V.C.s.

The major investment in Swiggy came in the form of an $80 million funding round from Naspers in 2017. This investment was followed by US$100 million in funding in 2018 from China-based Meituan-Dianping.

All the investments helped Swiggy enter the coveted unicorn startup club.

In early 2020, Swiggy received around US$43 million funding which valued the company at US$3.6 billion.

Swiggy, like other unicorn startups, has had its share of acquisitions over the years.

– In 2017, Swiggy acquired Bangalore-based Asian food startup 48East.
– Swiggy also acquired Scootsy Logistics, a food and fashion delivery service.
– Swiggy also went on to acquire a milk delivery startup in Mumbai called SuprDaily in an all-cash deal.
– In 2019, Swiggy also invested Rs 31 crore in Mumbai-based ready-to-eat food brand Fingerlix.

Recently, the company received approx. US$43 million funding at an evaluation of US$3.6 billion.
In August 2020, the company launched its groceries delivery platform called InstaMart.

(Source: Wikipedia | Your Story)

Did you know?

Sriharsha started his entrepreneurial venture by having this idea of enhancing logistic service.

Swiggy was not the first entrepreneurial adventure of the two founders. Their first venture was started In 2013 and was called Bundl.

Bundl was started to facilitate courier service and shipping within India. Bundl was halted and was rebranded to enter the food delivery market.

Source: Wikipedia

10. Vijay Shekhar Sharma

Vijay Shekhar Sharma

‘There are two kinds of companies in the world: One, who build, and two, who buy.’

Source: Magzter

Founder of the company: Paytm

Net worth: US$2.3 billion

Company’s value: US$10 billion

(Source: Wikipedia | Forbes)

Earlier days

The last name on our list of successful young entrepreneurs, Vijay Shankar Sharma, is the most famous entrepreneur in the list. He is the man behind one of the most successful ventures in India – Paytm.

Since his days in school and college, Vijay Shekhar Sharma was a prodigy.

He finished college at the age of 15 years and graduated as an engineer at the age of 19.

I don’t know about you guys, but I was definitely planning my engineering journey at this age 😊.

In his initial years in College, Vijay struggled to understand the class lectures as he came from Hindi medium background. Despite all the odds stacked against him, he finished his graduation from one of the top colleges in India.

Most of us would not know, but Vijay also was the owner of a website called indiasite.net (he managed the site during his college days).

He later sold the website for US$1 Million.

Vijay also developed a CMS called X.S. communications that were used by some of the significant brand publications in India, including The Indian Express.

The company One97 (the company behind the brand Paytm) was established in the year 2001.

Source: Business Insider

The road to fame

The journey to making Paytm a success story was always going to be difficult. In those days, India was still an economy that relied heavily on cash transactions. Cashless transactions and that through a mobile app looked like an idea whose time had not come.

Yet, Vijay Shekhar Sharma believed in the idea and took a loan of Rs 8 Lakh with a 24% interest to fund his dreams.

In addition to this, he had to do multiple jobs in parallel – setting up LAN connections and working as a guest lecturer to support himself and make repayments to his loan.

Things started changing for Paytm in October 2011 when V.C. like Sapphire Ventures (SAP Ventures) invested US$10 Million in the growing startup.

In March 2015, Paytm sold a significant stake in Business (40%) to Chinese e-commerce company Alibaba Group’s affiliate arm – Ant Financial Services Group, an Alibaba Group affiliate.

It was followed by investment from Ratan Tata, the M.D. of Tata Sons, soon followed.

The funding rounds did not stop here and one of the fastest-growing companies in India soon got investments from Mountain Capital, a Taiwan-based MediaTek’s investment funds at a valuation of over $5 billion.

The most significant funding round further followed this for Paytm by a single investor – SoftBank. The investment raised Paytm’s evaluation to an estimated $10 billion.

In August 2018, Berkshire Hathaway invested US$356 million for 3%- 4% stake in Paytm.

On 25 November 2019, Paytm raised US$1 Billion in a funding round led by U.S. asset manager T Rowe Price along with existing investors Ant Financial and SoftBank Vision Fund.

From 2012 till 2017, Paytm received numerous awards and recognition. Among significant award was the Outstanding Startup of the Year Award at Forbes Leadership Awards 2016 and Vijay himself won IMPACT Person of the Year Award 2016.

In 2017 Vijay’s became the youngest billionaire in India with a net worth $2.1 Billion with a current healthy net worth of US$2.3 Billion.

To date, Vijay’s the only individual holding the majority shares of 14.7% in Paytm.

(Source: Your Story | Paytm)

Did you know?

In September 2020 – google play store delisted Paytm’s official app from its play store.

Source: Wikipedia 

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Anu Bhardwaj September 7, 2021 - 9:36 am

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