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Entrepreneurship
Term-5th
Date:20/09/2015
By:
SMEET JAIN
(144154)
About
Anupam Mittal is an Indian businessman. He is the founder and CEO
of People Group, which includes the matchmaking portal Shaadi,
property search website Makaan.com and mobile media company
Mauj Mobile. Over 40 million people visit People Group properties
every month.
He is also an active angel investor with over 50 investments such as
Interactive Avenues, Ola Cabs, Druva, Sapience, Pretty Secrets, and
Caf Zoe. He is also an advisor and LP in several venture capital
firms in India. He is a founding member and past chairman of the
Internet and Mobile Association of India of India (IAMAI) and the
founding Co-chair of H2 India.
Mittal was voted by Business Week as one of Indias 50 Most
Powerful People, and has been on the list of one of the 25 people to
watch out for by The Week Magazine. IMPACT Digital Power 100 list
2012, 2013, and 2014 included him in their list of top businessmen
of Indias digital ecosystem.
In July 2015 he resigned his position of CEO of Shaadi.
Early
life
Transformation
story
Mittal was born on 23 December 1974 in a Marwadi family to Gopal
Krishna Mittal and Bhagawatidevi Gopal Krishna Mittal. He married
model Aanchal Kumar on 4 July, 2013 and is currently residing in
Mumbai.
He has also produced and acted in two films, entitled Flavors & 99.
He was living in the U.S. in the mid-1990s. I was studying there and
then joined a company called Micro Strategy, a business intelligence
software firm. This was the time when the Internet was starting to
boom in the U.S. The Internet was this incredible phenomenon that
was going to change the world. He used to come back to India once
a year, during which time He was not doing much. When He was
here in 1997, He started doing some web development work for
other companies. While sitting in my fathers office, He met one of
those traditional matchmakers. He came in, posed as a friend of my
fathers, and tried to suss me out to match me off. I wised up five
minutes into the conversation. But while anupam was thinking about
how to get [rid of] him out, it suddenly struck him that we could put
all this on the Internet, take away all the inefficiencies and address
the geographical and spatial limitations. And thats what he did.
In 1997, He launched the first version called sagaai.com. [Sagaai
means engagement in Hindi.] It was an experiment. His focus was
more on the web development piece because that was what was
earning the money. He put all that money in this business. In 2001,
He quit his job in the U.S. and moved back [to India], and He
changed the name to shaadi.com
Timeline
November 4, 2015
Made an investment in
Inner Chef
$1.7M / Seed Round
Phanindra Sama
YourStory News - This startup offers a new commuting solution to officegoers in Noida and Gurgaon
YourStory News - How rBus is tackling the mass transit problem in overcrowded Mumbai
Made an investment in
Betaout
o
o
YourStory News - Cartisan raises Rs 4.5 crore from Yuvraj Singh and others
The Tech Portal - Crowdfunding Platform Ketto Raises $700K Seed Round To
Step Into South-East Asia
e27 News - Indian crowdfunding site Ketto raises US$700K for SEA
expansion
The Tech Portal - Online Marketplace For Pre-owned Cars Truebil Gets
$500K From KAE and Others
The Tech Portal - The Porter Grabs $5.5 Million To Organise Indias
Scattered Logistics Market
June 8, 2015
June 1, 2015
Made an investment in
Truebil
o
Kae Capital
o
o
1 More Article
YourStory News - PropTiger and Makaan break the compound wall, gear up
for bigger battles
January 9, 2015
YourStory News - With over 1900 active stores, Kartrocket gears to grab
bigger pie of e-commerce enablement space
January 8, 2015
January 6, 2015
Made an investment in
Near.in
o
Himanshu Aggarwal
Akash Agarwal
o
Made an investment in
Zepo
o
o
o
December 8, 2014
YourStory News - Online lingerie store raises $2 million from Orios Venture
Partners
May 1, 2014
Made an investment in
Pipemonk (Formerly ZapStitch)
o
August 1, 2013
Made an investment in
IndiaCollegeSearch
Vikram Upadhyaya
Nitin Jain
o
Made an investment in
ZAPR
o
o
o
YourStory News - The 2012 Indian Startup Funding Digest- Venture Capital
and Angel investment in 2012
YourStory News - GSF Startup SharedCab raises INR 5 crores from Anupam
Mittal, Kae Capital and Blume Ventures
January 4, 2012
YourStory News - The 2011 Indian Startup Funding Digest - Venture Capital
& Angel Investment in 2011
Made an investment in
Ola
o
o
Kunal Bahl
o
Gigaom - Mandatory For Rediff And Sify To List In Indian Markets; Cleartrip
Eyes IPO
Gigaom - E-Business Summit: Focus On Future, Not Past, Will Drive Growth
Gigaom - Anupam Mittal New Chairman Of IAMAI; Subho Ray Takes Over As
President From Preeti Desai
March 9, 2006
Gigaom - Mauj To Get Funding From WestBridge Capital, Intel And Sequoia
Capita
Legacy
Anupam Mittal could be mistaken for a model on a Mumbai street in
his blue party shirt, yellow denims, earrings and a David Beckham
hairstyle. Yet the media-shy Mittal is one of Indias most successful
angel investors whose ventures include Shaadi.com, Makaan.com
and Mauj Mobile.
Valuations of companies where Mittal is invested are hitting the roof
as Indian e-commerce booms. With over 40 investments in
Interactive Avenues, Ola Cabs, Druva, Sapience, Pretty Secrets, Caf
Zoe and others, the value of Mittals portfolio has jumped 10-fold in
the last couple of years.
In April 2011, Ola Cabs had raised approximately Rs 1 crore from
Anupam Mittal and Rehan Yar Khan in an angel round of funding.
Mittal holds about two per cent equity in Ola, which touched a
valuation of Rs 1,100 crore when it raised $41 million in July. Later, it
raised another $210 million in a round led by Softbank. Mittal's stake
in Ola, acquired for Rs 50-60 lakh, has risen in value to Rs 22-25
crore in three years.
When you look at investment, Ola gives a very high return because
the amount we put in was small. The higher you go in absolute
amount, the harder it becomes to generate returns, but generating
high ROIs (returns on investment) on small amounts is easier,
Mittal said.
Mittal has exited four or five investments with high returns.
Interactive Avenues was Indias largest digital advertising agency,
which we sold last year to IPG, a global advertising conglomerate. It
was the biggest exit in that space in India. The other one was Little
Eye Labs, which was sold to Facebook earlier this year. It was the
first acquisition I faced in India. And those are the exits so far.
Interactive Avenues was sold for about Rs 350-400 and two
investors who held a majority stake, Mittal and Sequoia Capital,
exited. Mittal had an investment of Rs 3.5 crore for a minority stake.
According to him, another five or six exits will happen in the next 12
months. Some are under discussion right now, but we are pretty
confident we will see at least five or six (exits) in the next 12
months, he said.
As any other angel investor, Mittal is ready to write off a fourth of
his investments. "So whether it is Sapience, Dhruva, Pretty Secrets,
Ola Cabs or Interactive Avenues, all these are going to be very big
returns. Then there is probably about 15-20 companies that will do
okay, where the return may be three-four times the money. Then I
think there is going to be about 10-15 which will fail. So I have
already written off about five or six small companies and will write
off another seven or eight, or at least 10," Mittal said, describing his
investment strategy.
The total investment by Mittal is about $1.5 million in the last seven
years. "If you take the value of the existing shares in some of these
companies based on their most recent funding round, it is worth
$15-20 million, which is pretty good in seven years time," Mittal
said.
Mitttal married Mumbai-based model Anchal Kumar at a fairy tale
ceremony in Jaipur last July.
According to him, India is witnessing a big change in
entrepreneurship. "If you go back seven to ten years, there was a
stigma of failure. So everybody used to take up jobs as engineers,
doctors and so on. Now it is easier, people are accepted even if they
fail, Mittal said. Also, not many role models existed for
entrepreneurs back then, he added