Tag: 👨‍💻StartupTalkers

The Inspiring Journey of the Founder of Ixigo: Aloke Bajpai

Ixigo’s visionary co-founder, Aloke Bajpai, has reimagined the travel tech business in India. From a tech-savvy student at IIT Kanpur to the man behind one of India’s leading AI-powered travel platforms, his journey is a story of innovation, perseverance, and a forward-thinking approach.

Bajpai first honed his skills at global travel tech company Amadeus before co-founding Ixigo with Rajnish Kumar back in 2007. Their idea was simple yet revolutionary: The idea to develop a technology-based meta-search engine to ease the travel process for travellers in India and make their journeys faster and more efficient is what they wanted to push.

In this StartupTalky story, we will cover his early life, his struggles, Ixigo Group’s founding, and more. We will look at how innovative Aloke Bajpai has been in becoming a business tycoon.

Aloke Bajpai: Biography

Name	Aloke Bajpai
Birth Place	Gurugram, Haryana
Education	B.tech, Indian Institute of Technology, Kanpur (IIT) General Management, MBA, INSEAD MBA, The Wharton School Methodist High School
Profession	Founder, Chairman, Managing Director & Group CEO at Ixigo

Aloke Bajpai: Early Life and Education
Aloke Bajpai: Career
Aloke Bajpai: Ixigo
Aloke Bajpai: Investments
Aloke Bajpai: Controversies
Aloke Bajpai: Awards and Recognition

Aloke Bajpai: Early Life and Education

Aloke Bajpai - Co-Founder and CEO — Aloke Bajpai – Co-Founder and CEO

Aloke Bajpai’s early life marked the beginning of his future achievements. Bajpai grew up in India and has always shown a knack for technology and problem-solving. An exceptional aptitude for academics, in math and sciences in particular, marked his early education, which led him to pursue engineering later in life.

A passion for excellence and innovation drove Bajpai and he went on to pursue his undergraduate studies at one of India’s top engineering institutes, the Indian Institute of Technology (IIT) Kanpur. He developed his analytical skills and learned engineering fundamentals at IIT, majoring in electrical engineering. At this time, he was developing his technical skills and his ability to solve complex problems in a methodical way that would prove useful in his entrepreneurial career.

After graduating in 2001, Bajpai went to Europe, joining Amadeus, a global leader in travel technology. It expanded his horizons and gave him an idea of how digital product management at the scale works. His experience at Amadeus, particularly on web-based products, only increased his interest in the digital travel industry and helped shape his vision for Amadeus’ future. At that time, Bajpai saw the possibility of the sector featuring new solutions, especially in the Indian travel market, which he felt was ready to be disrupted.

Having a strong background in technology, Bajpai chose to strengthen his business skills with an MBA from INSEAD. He not only learned the basics of business management but also got a global perspective of entrepreneurship here. He was surrounded by peers from various backgrounds; this interaction helped him sharpen his strategic thinking and increased his understanding of market dynamics. Aloke’s time at INSEAD bridged his technical background with business acumen and helped him launch ixigo in 2007.

Aloke Bajpai: Career

Aloke Bajpai has become a leading and dynamic technology and travel sector leader with over two decades of experience. His journey to be a systems & network engineer at Amadeus, then a software engineer was truly inspiring. During his early days at Amadeus, he was an expert in network operations, and security and a Linux and Apache evangelist. This foundational experience resulted in his deep understanding of the complexity of systems and operational scalability in the travel technology domain.

Aloke Bajpai co-founded Ixigo in 2007, a leading AI-powered travel app that has emerged as a central pillar of the digital travel ecosystem in India. Since then, he has played a key role in bringing ixigo to become one of India’s leading platforms, serving to the next billion users in travel. And under his visionary helm, ixigo added platforms like Confirmtkt and AbhiBus to its footprint which reaffirmed his business acumen in the technology-driven travel market.

Aloke Bajpai is a seed investor at Freshbus, an electric long-range intercity bus service. His forward-thinking approach to sustainable transportation shows his commitment to modern, tech-driven solutions to some of the world’s biggest challenges. In addition, Bajpai is the Director at Confirmtkt, one of the ixigo group’s leading ticketing platforms for train travel in India.

Aloke Bajpai’s career is a fine example of how a man with deep knowledge and foresight can lead an organization and is respected by the Indian business community. His work continues to inspire and influence the future of digital travel and technology, cementing his place as a true pioneer in his field.

Aloke Bajpai: Ixigo

Aloke Bajpai’s story is one of remarkable tenacity, foresight, and an unstinting commitment to use technology to make millions of Indian users’ travel experiences better. Ixigo was conceived in 2007 by Rajnish Kumar and Bajpai as a meta-search engine for travel. Ixigo was based on the belief that India’s travel landscape was in dire need of a more consumer-centric approach. Bajpai and Kumar are both graduates of IIT Kanpur and former colleagues at the travel tech firm Amadeus, and they saw a need for a platform that would empower travelers by facilitating their travel plans and booking through robust data and artificial intelligence.

Co-founders started Ixigo modestly in a single-room office in Gurugram with less than INR 20 lakhs in savings between the both of them. It began as a meta-search engine that would aggregate deals from various travel websites and amassed 100,000 users in just six months without spending anything on marketing. The organic growth behind the founders’ resourceful approach was delivering value through product innovation and overspending on advertisements. The founders’ deep understanding of travel tech, along with their focus on developing a great user experience, drove the initial traction.

In 2021, ixigo made a strategic pivot into India’s underserved train and bus travel markets, which resulted in accelerated growth in its user base. ConfirmTkt, a waitlist prediction and train ticket booking platform, was acquired by ixigo as part of the company’s commitment to this segment, giving it a market that few had ventured into. This has turned out to be a prescient decision; today, ixigo is India’s largest train ticketing platform, responsible for INR 501 crore in operating revenue in FY23, with train and bus bookings accounting for a significant part of this.

The high point in the journey of Ixigo was when it was launched on the 2024 Indian stock exchange. Moreover, the share of the parent company of Ixigo, Le Traveneus Technology, which was opened at a very high premium was the reflection of the confidence stakeholders have in the company’s future growth.

Ixigo’s impressive listing and market performance were markers of its evolution from a fledgling startup to a major player worth about INR 6,275.87 crore. This was not just a financial milestone but a testament to the vision of Bajpai and Kumar to change the way travel was undertaken by Indian users, powered by technology and user experience.

Aloke Bajpai: Investments

Investment	Date	Platform Focus	Stage of Investment	Sector/Industry
InstaAstro	16-May-2024	Astrology and wellness services	Seed funding	Consumer services, wellness
OnlineTyari	09-Nov-2024	Competitive exam preparation	Angel & Series A funding rounds	Education, digital platforms
Twigly	26-Jul-2018	Food delivery	Angel round	Food services, tech
Overcart	20-Feb-2020	Refurbished and overstock products marketplace	Series A funding	E-commerce, sustainability
ZAPR	07-Mar-2017	Media consumption analytics	Early venture	Data analytics, media

Aloke Bajpai: Controversies

The CEO and co-founder of the online travel and hotel booking platform Ixigo, Aloke Bajpai, has been under fire after a reported security breach that exposed the data of 18 million users. The controversy first hit the headlines when the company issued an alert to its 100 million users after an alleged data breach, telling them to change their passwords. But Bajpai has said publicly that at present there is no evidence of a breach, and the investigation is underway with the help of security experts.

However, the company’s response has not been well received. It also came just days after the alleged hack and raised concerns that the company had not communicated adequately with its users about the risks. Several critics have asked, whether Ixigo had done enough to counter the breach or was proactive enough in its response to the breach.

Ixigo also defended its data security practices, noting that it stores only names and email IDs, not passwords, which are encrypted using a hashing algorithm. Even if someone gains access to the stored data, he said, they would not be able to access passwords, which are hashed and nearly impossible to unhash.

He added that most users log in through Google or Facebook accounts, which employ two-factor authentication to keep out intruders.

The incident has also opened a wider discussion over tech companies’ security protocols and what could happen if data is breached in an increasingly digital world. Bajpai says Ixigo’s infrastructure is still secure and no user accounts have been compromised, but the scandal has drawn attention to the company’s practices and its handling of sensitive user information in a highly insecure online world.

Aloke Bajpai: Awards and Recognition

Comeback Kid category at the Economic Times Startup Awards 2021
Entrepreneur of the Year Award in Service Business—Travel 2021 at the Entrepreneur Awards 2021.
He was also awarded with the Distinguished Alumnus Award 2022

FAQ

Who is the owner of ixigo?

The owners of ixigo are Aloke Bajpai and Rajnish Kumar, who co-founded the company.

Is ixigo profitable?

Yes, ixigo is profitable. It achieved profitability in recent years, driven by its focus on cost-efficiency and growth in the travel tech sector.

How old is ixigo?

ixigo was founded in 2007, making it 17 years old as of 2024.

November 23, 2024

Gautam Adani: Success Story of the Founder & Chairman of Adani Group!

Gautam Adani, one of the world’s richest individuals and the founder of the Adani Group, has built a vast business empire across sectors like energy, infrastructure, and media. However, his journey has faced significant challenges, including allegations of corporate fraud, a massive stock market crash, and a recent US indictment accusing him of involvement in a $265 million bribery scheme.

Adani and his wife, Priti Adani, run the Adani Foundation as philanthropists. His philanthropic organization is headed by his wife, of which he is the President.

According to media reports, Gautam Adani’s net worth in November 2024 is projected to be around $69.8 billion. According to Forbes, he is the world’s 22nd richest person and India’s second-richest person behind Mukesh Ambani.

In this StartupTalky story, let us learn about Gautam Adani’s success story, personal life, life story, journey to success, education, Adani Group, philanthropy, and more.

Gautam Adani Biography

Name	Gautam Shantilal Adani
Born	24 June, 1962
Birthplace	Ahmedabad, Gujarat, India
Nationality	Indian
Education	Gujarat University
Profession	Entrepreneur
Position	Founder & chairman, Adani Group
Net worth	$69.8 billion (November 2024)
Father	Shantilal
Mother	Shanti Adani
Brother	Vinod Adani
Spouse	Priti Adani
Children	Karan Adani

Gautam Adani – Personal Life
Gautam Adani – Education
Gautam Adani – Professional Life
Gautam Adani – Adani Group
Gautam Adani – Adani Enterprise Limited
Gautam Adani – Adani Ports & SEZ Limited
Gautam Adani – Adani Power Limited
Gautam Adani – Adani Transmission
Gautam Adani – Adani Green Energy
Gautam Adani – Controversies
Gautam Adani – Philanthropist
Gautam Adani – Help During Covid Crisis

Gautam Adani – Personal Life

Gautam was born in Ahmedabad, Gujarat, to a Jain family. Shantilal, his father, was a textile entrepreneur. He, along with seven of his brothers, mother, and father, lived in the northern part of Gujarat.

He and Priti Adani have a son, Karan Adani, who is the CEO of Adani Ports & SEZ Limited. His wife, a dentist, is the Managing Trustee of the Adani Foundation. Gautam was previously nobbled and released without accruing the money in 1998. He managed to avoid the 2008 Taj Hotel Mumbai attacks by hiding in the basement.

From an early age, he was driven and determined. As a teenager, he dropped out of school due to his lack of interest in academics. He went on to Gujarat University after that but did not finish his degree. He had no intention of entering his father’s textile company, despite his interest in the business.

Gautam Adani – Education

He graduated from Ahmedabad’s Sheth Chimanlal Nagindas Vidyalaya school with a bachelor’s degree. He then went on to Gujarat University to obtain a bachelor’s degree in commerce. However, after completing his second year of college, he dropped out.

Gautam Adani – Professional Life

Gautam was fascinated by entrepreneurship, but not his father’s textile company. He began working at a very young age. When he was 18, his entrepreneurial energy led him to leave Ahmedabad and relocate to Mumbai. The young man was eager to make it big despite having very little money. He worked at Mahendra Brothers in 1978 as a diamond sorter. He opened his own diamond brokerage company in Mumbai’s Zaveri Bazaar after working there for 2-3 years.

His company prospered, and by the age of 20, he had amassed a million-dollar fortune. His elder brother had recently purchased a plastic plant in Ahmedabad and asked Gautam Adani to assist him in its operation. Adani moved back to Ahmedabad and began working with his brother. Gautam expanded his empire into global trade by importing polyvinyl chloride. In 1985, he started commodity trading by importing Polyvinyl Chloride (PVC), a main raw material for plastic manufacturing, and traveled to South Korea to make a deal.

Gautam Adani – Timeline of Business ventures

Gautam Adani – Adani Group

Gautam Adani founded the Adani Group in 1988 and serves as its Chairman. The company is based in Ahmedabad, Gujarat, India. It is a commodity trading business with the flagship of Adani Exports Limited. The diverse business of the Group includes energy, resources, logistics, real estate, financial services, agribusiness, defense, and aerospace.

He has a 32.90% stake in Adani Ports & SEZ Limited, a 36.86% stake in Adani Power, a 50.29% stake in Adani Enterprises, and a 75% stake in Adani Transmission Limited. The Group holds an annual revenue of about INR 3.09 lakh crore (US$37 billion) for 2024, operating in 50 countries across 70 locations.

Adani Logo

Gautam Adani – Adani Enterprise Limited

Gautam established Adani Exports Limited in 1988, which has since evolved into Adani Enterprises Limited, the Adani Group’s holding company. Initially, the firm dealt with agricultural and power commodities.

In 1991, he began trading metals, textiles, and agro-products in order to expand his company. The shift in trade came as a result of the start of economic liberalization policies, and it proved lucrative for the group. Adani was able to quickly grow his company due to a favorable market climate.

Gautam Adani – Adani Ports & SEZ Limited

In October 1998, the business opened its doors at the Mundra Port. In February 2001, the group was given the right to operate and expand the Mundra Port, which is located on the Navinal Island in the Kutch area, for 30 years through a Concession Agreement with the Gujarat Government and the Gujarat Maritime Board. Mundra Port surpassed JNPT in August 2020 to become India’s largest container port.

Currently, the company is the largest private multi-port operator in the world. The port has a cargo capacity of 210 million tonnes per year, making it India’s largest private-sector port.

Karan Adani, the Chief Executive Officer of APSEZ, is in charge of the venture. Port management, logistics, and the special economic zone are among the company’s activities. Mundra, Dahej, and Hazira in Gujarat; Dhamra in Odisha; Kattupalli in Tamil Nadu; and Vizhinjam in Kerala are the ports where the business runs.

Gautam Adani – Adani Power Limited

Gautam created Adani Power Limited, another Adani Group portal, in 1996. With a capacity of 4620 Mega Watt, Adani Power is the country’s largest private thermal power plant operator. He bought Abbot Point Port in Australia and Carmichael Coal in Queensland between 2009 and 2012.

It is a privately owned thermal power plant with a capacity of 12,450 megawatts (MW). It also runs a 40-megawatt solar plant in Naliya, Bitta, Kutch, Gujarat. Jharkhand is home to Adani Power, which is building a 1,600 MW plant. The governments of Gujarat, Maharashtra, Haryana, Rajasthan, Karnataka, and Punjab have signed long-term power purchase agreements with the company totaling 9,153 MW.

Adani Power made a cumulative profit of INR 634.64 Crore in the 4th quarter, which ended on March 31, 2019. The company posted a consolidated net loss of INR 653.25 Crore in the previous financial year.

The business has received several honors and accolades. At IPPAI’s 18th Regulators & Policymakers Retreat in 2017, it was awarded ‘the Most Innovative Young Power Professional’. In Singapore, CSR Works International rewarded the firm for best sustainability reporting in Asia, with the support of the British Chamber of Commerce and the Canadian High Commission.

Gautam Adani – Adani Transmission

Adani Transmission Limited, headquartered in Ahmedabad, India, is a power transmission company. It is currently one of the largest private-sector power transmission companies in India. The company operates a total network of 12,200 circuit kilometers as of July 2020, with more than 3,200 circuit kilometers under construction at various points.

Gautam Adani created Adani Transmission in December 2015 after separating his ten-year-old transmission company from Adani Enterprises. The company became the primary custodian for over 3800 circuit kilometers of transmission lines originating from the Mundra Thermal Power Station, linking Mundra–Dehgam, Mundra–Mohindergarh, and Tirora–Warora, at the time of its establishment.

Gautam Adani – Adani Green Energy

Adani Green Energy Limited was formed on January 23, 2015, under the Companies Act 2013. AGEL and Inox Wind collaborated to construct a 20 MW wind power project in Lahori, Madhya Pradesh, during the company’s early days. AGEL also purchased Inox Wind’s 50 MW wind energy project in Kutch’s Dayapar village. The project was conceived by the latter after it won capacity bids for wind power projects linked to the National Grid from the Solar Energy Corporation of India.

With a total project portfolio of 13,990 MW, Adani Green Energy Limited (AGEL) is one of India’s largest renewable energy companies. AGEL is part of the Adani Group’s promise to give India a richer, safer, and more environmentally friendly future.

The Company creates, installs, owns, operates, and maintains utility-scale grid-connected solar and wind farm projects, all of which are driven by the Group’s philosophy of “Growth with Goodness.” The electricity produced is distributed to federal and state government agencies, as well as government-backed businesses.

Gautam Adani – Controversies

Gautam Adani was charged in New York for his involvement in an alleged bribery and fraud scheme worth billions of dollars, according to US prosecutors on November 20, 2024.
Adani, who leads a large business empire in sectors like coal, airports, cement, and media, has faced serious allegations of corporate fraud and a major stock crash in recent years.
In 2023, Adani’s businesses lost $150 billion in market value after a report by short-seller Hindenburg Research accused the group of major corporate fraud. The report claimed that Adani Group had been involved in stock manipulation and accounting fraud for many years.

Gautam Adani – Philanthropist

Gautam is the president of the Adani Foundation, which he established in 1996. The Adani Group funds the organization, which is active in Maharashtra, Himachal Pradesh, Chhattisgarh, Rajasthan, and Odisha.

The Adani Foundation, which is run by the Adani Group, is active in a lot of philanthropic work. In addition to Gujarat, the foundation works in several states, investing in education, sustainable economic resources, and expanding rural development, among other things. Priti Adani runs the Adani Vidya Mandir in Ahmedabad, a school that accepts only children whose parents earn less than INR 1 lakh per year.

The foundation has a special program to assist fishermen, and it offers financial assistance to 500 fishermen from the coastal taluka for the purchase of fishing equipment. The children of the fishermen are given educational opportunities.

In the year 2012, Adani Foundation Group partnered with IndiaSkills, vocational education joint venture, and City & Guilds, one of the best brands of work-related evaluation and qualifications, to open a skills training site in Gujarat that would offer courses in commerce, hospitality, defence, renovation, and engineering.

Gautam Adani – Help During Covid Crisis

Gautam Adani also donated INR. 100 Crore to the Prime Minister CARES FUND through the Adani Group’s portal to combat the Coronavirus crisis. He made a donation of INR 5 Crore to the Gujarat Chief Minister’s Relief Fund and INR 1 Crore to the Maharashtra Chief Minister’s Relief Fund.

Thank you @IndianEmbRiyadh. Indeed, actions speak louder than words. We are on an urgent mission to secure oxygen supplies from across the world. This first shipment of 4 ISO cryogenic tanks with 80 tons of liquid oxygen is now on its way from Dammam to Mundra. (1/3) https://t.co/BLZ0SbQ499 pic.twitter.com/lFKnx0hIhX

— Gautam Adani (@gautam_adani) April 24, 2021

Four ISO cryogenic tanks loaded with 80 metric tonnes of liquid medical oxygen were imported from Dammam, Saudi Arabia, to Mundra, Gujarat, by Gautam Adani’s diversified conglomerate Adani group. Linde Saudi Arabia has agreed to provide the community with 5,000 medical-grade oxygen cylinders. Adani said on Twitter that his company provides 1,500 cylinders of medical oxygen per day to wherever they are required in Gujarat’s Kutch.

Conclusion

Adani’s knack for business can be seen in all of his endeavors. He has his hands in almost every industry imaginable and has become the very best in them be it logistics or real estate. He had his mind set on being an entrepreneur from a very young age – in his actual teenage years at a time when it wasn’t regarded as being cool. And he came from a very ordinary family and carved himself a very extraordinary life indeed. There’s a lot to learn from his business moves!

FAQs

Who is Gautam Adani?

Gautam Adani is an Indian businessman and philanthropist who founded the Adani Group, a multinational conglomerate specializing in port development and operations in India.

What is the net worth of Gautam Adani?

Gautam Adani’s net worth is estimated at $69.8 billion as of November 2024.

When was the Adani Group founded?

Adani established the Adani Group in 1988, which is headquartered in Ahmedabad, India.

What is Gautam Adani education?

Gautam Adani was educated at Sheth Chimanlal Nagindas Vidyalaya School in Ahmedabad. He then enrolled for a bachelor’s degree in Commerce at Gujarat University. However, Adani dropped out after the second year because he was interested in doing business there in his father’s textile business.

How many Gautam Adani founded organizations are there?

Adani Group consists of 10 publicly listed entities.

November 22, 2024

Ashneer Grover: Fintech Innovator, Former Shark Tank Judge, and Entrepreneur

Ashneer Grover was the Managing Director and Co-founder of BharatPe, until February 28, 2022, when he had to resign and renounce his positions in the company. He co-founded the company along with Shashvat Nakrani in 2018. Within four years, they have turned BharatPe into one of the largest used payment apps in India. BharatPe founder Ashneer Grover was also seen on the judging panel of the Shark Tank India reality show. His net worth is around INR 700 crore.

Though Ashneer Grover had a good start in terms of education, career, and business, he also faced multiple challenges in his entrepreneurial journey. This article discusses the complete story of Ashneer Grover right from his early life, achievements, history, and career to the controversies and challenges faced by him recently.

Ashneer Grover – Biography
Ashneer Grover – Personal Life
Ashneer Grover – Education
Ashneer Grover – Initial Career
Ashneer Grover – Founding BharatPe
Ashneer Grover – Shark Tank India
Ashneer Grover – Starting up again with the Unicorn Dreams
Ashneer Grover – Controversies and Challenges Faced

Ashneer Grover Biography

Name	Ashneer Grover
Born	14 June 1982
Birth Place	Delhi India
Nationality	Indian
Education	IIT Delhi and IIM Ahmedabad
Position	Ex-Founder and MD, BharatPe
Net Worth	INR 900 crore (2024)

Ashneer Grover – Personal Life

Ashneer Grover was born in Delhi on June 14, 1982. His father was a Chartered Accountant and his mother was a teacher. As his parents were in good professions, the family was doing well. He got graduated from well-reputed institutes like IIT, and IIM.

Ashneer Grover was married to Madhuri Jain Grover. She’s an entrepreneur and owns a furnishing business named Mauve and Brown in Delhi. Ashneer Grover’s wife, Madhuri Grover had taken care of HR, finance, and other internal operations and headed the Controls at BharatPe before she was declared to be one of the employees who were involved in financial fraud and was eventually terminated by the Board. The couple has two children.

Ashneer Grover – Education

Ashneer Grover completed his schooling in Delhi. He then graduated B.Tech from the Indian Institute of Technology (IIT). During his time at IIT Delhi, he was selected for a student exchange program with the National Institute of Applied Sciences, also known as INSA Lyon, in France. It is one of the largest and finest engineering schools in Europe.

He moved to INSA Lyon in 2002 with a scholarship of €6,000 from the French Embassy. After graduating from IIT, Grover went to the Indian Institute of Management (IIM) Ahmedabad for his MBA in Finance. He graduated from the IIM in 2006.

Ashneer Grover – Initial Career

Kotak Finance Banking selected Ashneer Grover as the Vice President through campus placements from IIM. He has been a part of Kotak for almost 7 years since 2006.

In mid-2013, Ashneer joined American Express (AmEx), a payment card services company, and worked for two years. During his tenure, Grover also famously led some startup investments for the card network of India. The Series B investment in Mobikwik came on behalf of American Express when Grover was still there. He was designated as the Director of Corporate Development in AmEx.

After leaving American Express in 2015, Ashneer became the Chief Financial Officer at Grofers, a startup founded by his IIT Delhi classmate Albinder Dhindsa. However, Grover left the company in 2017 because he didn’t get the ESOP options there that were promised to him earlier. The company is now called Blinkit.

Later in 2017, PC Jeweller Ltd. took Ashneer as the Head of New Business, where he worked for exactly a year. Ashneer Grover established his own company BharatPe at a very young age.

Ashneer Grover – Founding BharatPe

After accumulating 12 years of experience from multiple jobs, Ashneer Grover decided to start his own business. His experience as the head of business development and payments at PC Jeweller sparked the idea of starting a payments company. Ashneer eventually joined hands with Shashvat Nakrani to establish BharatPe in 2018.

Together they built the fintech company from scratch and added several services to its core operation. Today, BharatPe offers UPI Payments, QR codes for transactions, POS machines for card payments, an investment and loan app called 12% Club, and digital gold transactions.

When BharatPe was a $30 million company, Ashneer claimed that he received an offer of $50 million from Google Pay, but he refused to materialize a deal with the latter, as per one of his statements on the show Shark Tank India. Grover later added that he knew that he was meant for something big, which all entrepreneurs, founders, and CEOs to be, should aim for, and BharatPe was last valued at around $3 billion.

They also got approval from the RBI for small business financing in collaboration with Centrum Financial Services Ltd. By offering diverse services, Ashneer Grover made BharatPe one of the most used payment apps in the country. However, he had to retire after numerous rounds of controversies thrown at him and allegations surrounding him due to the financial irregularities associated with him, which were noticed by the company’s board. Ashneer Grover tendered his resignation from BharatPe on February 28, 2022, and boasted of still being recognized as the single largest individual shareholder of the BharatPe company.

In a speech that Ashneer Grover gave at the Lovely Professional University on April 29, 2022, where he was invited as a guest speaker, Ashneer shared an insight into how businesses operate and all the things that need to be kept in mind while diving into a new venture. Speaking about the same, he disclosed one such incident, after starting BharatPe, when he sought to make it popular overnight. He had a total of Rs 100 crore in his bank account, but he wanted to sign up Salman Khan. The Bollywood actor charged close to Rs 7.5 crore. However, unsure of whether he could do that, Ashneer asked Salman to reconsider his fees. Salman’s manager also asked him “Aap bhindi kharidne aaye ho kya, kitni mandwali karoge?”. However, at last, Salman reconsidered the charge, and came down to Rs 4.5 crore, thereby becoming the brand ambassador of BharatPe in 2019.

Ashneer Grover – Shark Tank India

Ashneer Grover was a judge on the first season of Shark Tank India and became very popular. However, he was removed after a fallout with his former company, BharatPe, which he had helped start. Despite this, his popularity remained strong, with many fans still hoping he would return to the show in later seasons.

Ashneer Grover – Starting up again with the Unicorn Dreams

Ashneer Grover, as per the reports dated June 16, 2022, was looking to find another startup, for which he will likely be raising around $200-300 mn. The former Co-founder and MD of BharatPe is currently in the US and in talks with the US-based family offices and other private equity offshore players to raise the funding required. Sources said that Grover might also start the business with some of his own money and will eventually sell a part of his BharatPe stakes or raise funding by issuing a stake in the new company. People also added that Grover’s 8.5% stake is now valued at around $3 bn, and there are also buyers for the stake.

The company or the sector that Ashneer Grover will be inclined to start with his new venture was not confirmed, when last reported in June 2022. However, the former BharatPe founder stated on his 40th birthday that he will be re-entering the world of business and also has plans to build another “unicorn”.

Fast forward to July 9, 2022, the startup has already been formed by Ashneer and his wife Madhuri Jain Grover, and is called Third Unicorn Pvt Ltd., according to the Tofler data. The startup, which has reportedly launched on July 6, 2022, will have both Ashneer Grover and his wife as Directors. The total paid-up capital and the authorized share capital have been revealed as Rs 10 lakh and Rs 20 lakh respectively.

Ashneer Grover – Controversies and Challenges Faced

BharatPe, as a company, got into a controversy when it labeled itself as nationalistic and its competitors as Non-Indian companies. The company issued pamphlets citing such details to the public. So the competitors filed a lawsuit against BharatPe and reported the same to the RBI.
Another controversy arose when PhonePe and BharatPe fought for the word ‘Pe’ in their respective names. PhonePe has filed a case against the latter in the Delhi High Court. It was later disposed of by the same.
A major controversy faced by Ashneer Grover was about an audio clip leaked on Twitter. It is claimed that Grover used inappropriate language and threatened a Kotak employee over an issue of not securing Nykaa’s IPO shares.
Before this issue could be settled, the company’s board raised accusations against Ashneer and his wife. The board accused them of initiating fraudulent transactions against non-existing vendors. They also reported irregularities in invoices.
The audio issue forced him to stay away from the company and take a temporary leave for three months. After the discovery of the financial irregularities, the board demanded the permanent exit of Ashneer Grover from the company. Grover then responded that he was happy to leave his role in BharathPe but would always stay as a shareholder and a founder.
With pressure mounting up on Ashneer Grover to leave BharatPe, he had strongly criticized the CEO Suhail Sameer. He said that Sameer manipulated and arm-twisted him to exit the company. Grover had also demanded a huge compensation worth around Rs. 4000 crores for his withdrawal from BharatPe. He said that he has 9.5% stakes, which would be worth around the same amount, but it’s been reported that the board is unlikely to agree with it.
Ashneer Grover had made an emergency arbitration plea to the SIAC but that was tossed off by the Singapore International Arbitration Centre. He made everyone believe that the probe by the board was unethical, but he failed. Grover also demanded his buyback before exiting the company, but the BharatPe investors declined the same. According to the BharatPe Board, Grover received the agenda of the company’s board meeting on February 28, 2022, which will also include the PWC report on the conduct of Grover where the actions were taken against him, will also be discussed, and it was on the same day that Ashneer Grover resigned. Grover resigned with immediate effect on 28th February but claimed that he would still be standing as the single largest shareholder of the company after mentioning that he and his family were “vilified” and forced to resign.
On 30th September 2024, BharatPe and Ashneer Grover settled ending their long legal battle and public disputes. As per the settlement, Grover will no longer be associated with the company, and the legal case against him has been dropped. As part of the deal, Grover will also give up his shareholding in the company.

Ashneer Grover recently appeared on Bigg Boss 18 on 18 November 2024, where host Bollywood actor Salman Khan called him out for his past comments and accused him of “doglapan.” Salman also mentioned not remembering any previous meetings with Ashneer. In response, Ashneer praised Salman as a “great host” and said he was sure the episode got great TRP.

Conclusion

The story of Ashneer Grover enunciates that however successful you are, problems and challenges are part and parcel of life. The way you overcome them has the power to define who you are.

Despite the accusations made against him by the board, one can never disagree with the effort and time Ashneer Grover invested in the growth of BharatPe. The Ashneer Grover controversy undoubtedly kept the startup ecosystem, BharatPe Board, the media, entrepreneurs, business professionals, and others engaged for over 2 months, but what hooks all of us right in is what Grover next plans to do. A man of his caliber would certainly have some plans in mind for the startup ecosystem too along with his own personal gains.

FAQs

Who is Ashneer Grover?

Ashneer Grover is the former co-founder, MD, and CEO of BharatPe.

Who is the CEO of BharatPe?

Suhail Sameer has been the CEO of the company since August 2020.

Is Asheer Grover from IIT?

Ashneer Grover is from IIT Delhi.

How Ashneer Grover became rich?

Ashneer Grover became rich by co-founding BharatPe, a fintech company that helps small businesses accept digital payments. The company grew quickly and became valuable, making Grover a wealthy entrepreneur. He also earned money through investments and his role on Shark Tank India.

Which state is Ashneer Grover from?

If you are wondering Ashneer Grover is from which state, then you should know that the Former Founder and MD of BharatPe was born in Delhi.

What is Ashneer Grover education?

He graduated B.Tech from IIT Delhi and MBA in Finance from IIM Ahmedabad.

What is Ashneer Grover age?

Ashneer Grover was born on 14 June 1982. He is 42 years old.

What is the issue with BharatPe’s board and Ashneer Grover?

The board accused Grover and his wife of making fraudulent transactions and irregular maintenance of invoices.

Which was Ashneer Grover first startup?

Ashneer Grover’s first startup was BharatPe, a fintech company that he co-founded in 2018.

What is Ashneer Grover net worth?

BharatPe founder Ashneer Grover’s net worth is around INR 900 crore as of 2024.

What are Ashneer Grover companies funded by him?

Some of the major investments that Ashneer Grover made were in:

M2P Fintech
Rupifi
Big Bang Food Tech
Pocketly
The Whole Truth
Koo App
EasyRewardz
MyHq
FrontRow

November 22, 2024

Doug McMillon: Reinventing Retail at Walmart

Doug McMillon, President and Chief Executive Officer of Walmart, Inc., joined the firm as a regular associate in 1984. He started at the warehouses by picking orders along with unloading trailers. He climbed up the ranks to begin his tenure as CEO in 2014.

He was instrumental in transforming the firm into a people-led, omnichannel retailer with people who help save money for others. Through him, the company created Project Gigaton—an initiative of suppliers set to help cut over 1 billion emissions across the world by 2030.

Besides that, McMillon is a director of the Business Roundtable, the Consumer Goods Forum, and the U.S.-China Business Council.

Doug McMillon: Biography

Name	Carl Douglas McMillon
Born	October 17th, 1966
Nationality	American
Hometown	Memphis, Tennessee
Education	University of Arkansas, (BS), University of Tulsa (MBA)
Spouse	Shelley McMillon
Children	2
Net Worth	Estimated $427 million (As of November 2024)
Occupation	President and CEO of Walmart

Doug McMillon: Early life and education
Doug McMillon: Career
Doug McMillon: Personal Life
Doug McMillon: Political Motivations
Doug McMillon: Achievements and Recognition
Doug McMillon: Trivia
Doug McMillon: Key Highlights

Doug McMillon: Early life and education

Doug McMillon - CEO of Walmart — Doug McMillon – CEO of Walmart

Born in Memphis, Tennessee, but raised in Jonesboro, Arkansas, Douglas is one of three children. At the age of 16, he moved with his family to Bentonville, Arkansas, and began working for Walmart (incorporated in Bentonville). Douglas loves sports, and in high school, he was his team’s (junior) point guard on the basketball team.

Doug McMillon: Career

McMillon began his professional career when he joined Walmart, Inc., where he worked as a summer associate offloading trucks coming from the distribution center. After finishing high school, he studied at the University of Arkansas. Two years later, in 1989, he graduated from there with his BA degree.

In 1990, he joined the University of Tulsa to pursue an MBA, while he anticipated joining Walmart after graduating with success. Again, he began his journey with Walmart as assistant manager of a store in Tulsa.

After completing his MBA in the year 1991, he returned to Bentonville, where he joined the buyer-training program. He started working as a fishing tackle buyer and, over time, took on positions that included purchasing and merchandising, managing all segments; food, clothing, furnishings, and crafts. He would serve as a general merchandise manager in Walmart’s wholesale store division, Sam’s Club, and then take charge of the electronics, toys, and sporting goods lines of business.

Doug’s role at Sam’s Club (2005–2009)

In 2005, they promoted Douglas to be the president and CEO of Sam’s Club. He focused on marketing the brand to small business owners. Also, he added what the Wall Street Journal called “treasure hunt” items, such as limited-selection premium items like vacations and diamond necklaces for sale along with cheap bulk items to compete with Costco.

Doug’s Role in Walmart International (2009–2013)

Walmart management promoted McMillon in February 2009 to head the Walmart International division to replace Mike Duke. Under his leadership, Walmart International concentrated on revamping its current markets in the UK, Canada, China, and the Americas. One area that McMillon focused on was integrating Walmart’s low rates into its international market.

It was under Doug’s leadership that Walmart bought major stakes in South Africa’s Massmart Holdings Ltd. for $2.4 billion. Under McMillon’s guidance, Walmart International grew faster than Walmart USA and accounted for 29% of the total countrywide sales.

CEO Role at Walmart (2014 to date)

On November 25, 2013, Walmart announced McMillon’s elevation to the Board of Directors, and he succeeded Mike Duke as the CEO of Walmart on February 1, 2014. He assumed office at a moment when the competition was rising from players like Amazon, Costco, Safeway, Kroger, Dollar General, and Dollar Tree, among others.

One of the biggest changes Doug brought about was the rise in wages for hourly workers in the U.S. This move, according to McMillon, would lead to happier workers who would, in turn, provide better customer service.

In 2015, McMillon stated that Walmart would invest $2.7 billion in terms of associate wages, benefits, and training. During his tenure, they increased the wage rate from $9 an hour to $10 an hour. In 2016, he stated raises for employees involving short-term disability benefits for full-time workers and also revised paid time off.

Doug McMillon: Personal Life

Douglas and his wife, Shelley, have been married for many years, and they have raised two sons together. He is a born-again Christian by faith and currently resides in Bentonville, Arkansas.

Doug McMillon: Political Motivations

Douglas has also spearheaded the political strategies for Walmart, Inc. He recently issued a statement urging Arkansas Governor Asa Hutchinson to veto the religious freedom bill from last year (2015). The report by him stated that the religious freedom bill “threatens to undermine the spirit of inclusion present throughout the state of Arkansas and does not reflect the values we proudly uphold.”

In 2015, he revealed that the company would not sell Confederate merchandise after the shooting of nine African American churchgoers in Charleston, South Carolina. The business also altered the sale of guns to include only guns designed to suit sport shooters and hunters. The company ended the sale of military-style semi-automatic weapons.

He has been a member of the business group that President Donald Trump set up in 2016 to consult with him on policy matters related to the economy. He also denounced the way President Trump addressed violence at a white nationalist rally in Charlottesville, Virginia, in 2017. He did it through an email to all of the employees.

Over the course of 2019, McMillon bolstered their arms and ammunition policies. And he said that Walmart would no longer sell ammunition for handguns and military weapons. It originates from the mass shooting at one of its stores in El Paso, Texas.

Doug McMillon: Achievements and Recognition

1. Forbes’ World’s Most Powerful People

Ranked 29th in 2014.
Ranked 32nd in 2015.
Ranked 27th in 2016.

2. Ad Council Public Service Award ‘Legacy Award’

Received for his work on the “Welcoming Immigrants” campaign and education initiative on COVID-19 vaccinations.

3. Honored at the Junior Achievement of Arkansas Hall of Fame Gala for his positive influence on:

Business
Education
Community

Doug McMillon: Trivia

Helped acquire majority stakes in South Africa’s Massmart Holdings Inc. for $2.4 billion.
Increased international stores from 3,300 outlets in 14 countries to 6,300 outlets in 26 countries.
Douglas appears on Forbes’ World’s Most Powerful People List for 2014, 2015, and 2016 in positions #29, #32, and #27, respectively.

Doug McMillon: Key Highlights

Under McMillon’s leadership, Walmart has undergone significant transformations that focus more on sustainability, global expansion, and technological innovation.

1. Technology Integration:

Walmart is investing heavily in generative AI to improve its overall customer experience and optimize its supply chain operation.
He emphasized the latest retail strategies that highlight integrating AI to transform both operations and customer engagement.

2. Sustainability Initiatives:

McMillon championed Walmart’s environmental effort to reduce 10% reduction in carbon emissions across its supply chain in 2024. They also expanded the use of biodegradable packaging.

3. Expansion and Market Focus:

Walmart is strengthening its global presence in major markets such as India and Africa. One of their key moves includes gaining major stakes in Flipkart.

4. Healthcare and eCommerce:

Walmart’s healthcare division includes mental health services and telemedicine and has generated over $5 billion in revenue. He also advanced eCommerce capabilities and invested heavily in online operations to introduce Walmart+ subscription.

FAQ

How much is the CEO of Walmart paid?

The CEO of Walmart, Doug McMillon, was paid approximately $25.7 million in total compensation for the fiscal year 2024.

Is Doug McMillon still CEO of Walmart?

Yes, Doug McMillon is still the CEO of Walmart.

What degree does the CEO of Walmart have?

Doug McMillon, CEO of Walmart, holds a Bachelor’s degree in Business from the University of Arkansas and an MBA from the University of Tulsa.

November 21, 2024

Anupam Mittal Success Story: How He Built Shaadi.com From Scratch?

One of the best and most efficient matrimony sites in India, Shaadi.com has brought together many like-minded people. It is recognized as one of the most prominent matrimonial sites, with a reputation for bringing together the most compatible couples. Millions of individuals use this site to find the best match for their children. The site has a fantastic record of over 3.5 million weddings from all across the world. It has become the most popular matrimonial website.

Shaadi.com was started by Anupam Mittal in 1996 with a single goal in mind: to give a better matching experience by increasing the number of possibilities to meet possible lifemates. Since then, Anupam Mittal and his team have built a globally recognized service that has impacted the lives of millions of people.

In this StartupTalky story, let us learn about Anupam Mittal’s success story, early life and childhood, life history, personal life, journey to success, education, Shaadi.com, Shark Tank India, and more.

Anupam Mittal Biography

Name	Anupam Mittal
Born	23 December 1971
Birthplace	Mumbai, India
Education	MBA in Operations & Strategic Management (Boston College, US)
Position	Founder and CEO of the People Group and Shaadi.com
Wife	Aanchal Kumar
Net worth	$23 million (2024)

Anupam Mittal – Introduction
Anupam Mittal – Personal Life
Anupam Mittal – How He Founded Shaadi.com?
Anupam Mittal – The Shift of Opportunities
Anupam Mittal – The Succes of People Group
Anupam Mittal – Investments Besides People Group
Anupam Mittal – Shark Tank India
Anupam Mittal – Awards and Recognitions

Shaadi.com Success Story | Anupam Mittal

Anupam Mittal – Introduction

Anupam Mittal - Shaadi.com Founder — **Anupam Mittal – Founder, Shaadi.com**

Anupam Mittal, the founder, and CEO of People Group is now one of the most well-known figures in India’s e-commerce industry. Mittal has seen his valuations rise 10-fold in the last couple of years alone, thanks to more than 40 investments in a variety of interactive services (Shaadi.com, Ola cabs, Makaan.com, and Mauj mobile, among others) and is listed among the country’s 50 most powerful people by a leading business publication.

Shaadi.com was founded by Anupam Mittal with a novel concept that finally led to its massive success. Anupam Mittal was born on December 23, 1971. He graduated from Boston with a Bachelor’s degree. He also earned an illustrious MBA in Operations and Strategic Management. After meeting a marriage broker, he proceeded with the noble idea of launching a matrimonial website.

Anupam Mittal – Personal Life

With time, Anupam Mittal’s profession and business have flourished. Anupam Mittal’s resume is embellished with his successful business methods and planning, which opened the route for popularity and prosperity.

**Anupam Mittal with his wife Aanchal Kumar**

Anupam Mittal married Aanchal Kumar – a model, and actress. Aanchal Kumar is a model-turned-actress who has appeared in films such as Bluffmaster and Fashion in cameo roles. She also made an appearance in the fourth season of Bigg Boss. She has received several modeling honors.

Anupam Mittal’s wife’s biography does not reveal much about her career, yet she is well-known in the film world. She married Anupam Mittal in 2013 after a long relationship. They have a daughter, Alyssa Mittal.

Anupam Mittal – How He Founded Shaadi.com?

Anupam Mittal - Shaadi.com Owner — Shaadi.com Homepage

Anupam returned to India after his studies. He used to sit in his father’s office and conduct web development work for other firms because he didn’t have much else to do.

At the same time, he ran across one of those old-school matchmakers who will go to any length to get you married. To protect his reputation, he attempted to place Anupam with some of his customers. A thought came to Anupam when the matchmaker was at the peak of his push, and it transformed his life forever.

Now, while he was attempting to get rid of the matchmaker, it occurred to Anupam that what if there was a portal that could operate as a virtual matchmaker for weddings, what if all of the information such guys possessed was posted on the World Wide Web and made available to anyone looking for a bride or groom? This would not only eliminate all inefficiencies and geographical limits but would also greatly simplify the procedure.

As a result, Anupam published the initial version of Sagaai.com in 1997 without much thought. At the time, this was more of an experiment than a steady enterprise. Even though he was active in the business as well, he only did so on weekends or so, and his primary attention remained on his employment. He invested all of the money he had or had saved for the web module’s development simply because it was the thing that brought the money in.

In the years 2000-2001, an intriguing turn of events occurred when the dot com bubble burst, and most of the firms in the surrounding area went bankrupt. Micro Strategy, the business with whom he was working at the time and which had a pre-dot com crisis worth over $50 billion, had also entirely collapsed.

Anupam Mittal – The Shift of Opportunities

At the same time, Anupam came across Shariah [SP].com and observed that there were a lot of individuals in the United States who were looking for lifemates. He saw that there was a significant pain point that they could address and that this had enormous potential!

After almost three years of running his website in India, he realized that the country had very limited internet penetration and that it still had a long way to go before becoming a legitimate business. Because India was missing out on the Internet, Anupam chose to focus his efforts on the US market.

Even though Shaadi.com was founded in 1996, it wasn’t until the years 2000-2001 that they began to focus on it as a company and devote all of their resources to it. And, since the stock market in the United States was on the verge of collapsing, the idea of quitting work and returning home began to take shape. After much deliberation and consideration, Anupam left Micro Strategy in 2001, returned to India, changed the name of Sagaai.com to Shaadi.com, and entirely shifted his emphasis.

Now that he’d made his decision, he needed to narrow down his target audience, and while doing so, he realized that there was a greater need for a service like Shaadi.com among NRIs, or ex-pats from the United Kingdom, the United States, and Canada, simply because these people were geographically separated from their homelands but still wanted to marry within their relevant communities, but couldn’t find the right one because they didn’t know where to look. This is when Shaadi.com could come in handy!

Anupam Mittal – The Succes of People Group

People Group, which comprises Shaadi.com, Makaan.com, Mauj Mobile, and People Pictures, is where Anupam began his entrepreneurial path. Anupam has taken People Group from one milestone to the next, and the company is now acknowledged as one of the most inventive in the country. He is known for his strong commercial acumen and attention to detail.

In 1996, Shaadi.com, the world’s largest marriage service provider, was created. Shaadi.com has become the foremost matching brand on the Internet, and the first business of its type in the world, with over 35 million users and millions of success stories to its credit.

Similarly, Anupam launched Makaan.com, India’s fastest-growing online real estate platform, and Mauj Mobile, India’s top mobile media firm, both of which have swiftly become household brands in their respective fields.

Anupam Mittal – Investments Besides People Group

Anupam is also a successful angel investor, having made over 200 investments in companies such as Big Basket, Interactive Avenues, Ola Cabs, Druva, Fab Hotels, PropTiger, DocsApp, Rupeek, Porter, Ketto, Trell, Lets Venture, others. He advises and invests in some of India’s top venture capital businesses.

He is enthusiastic about entrepreneurship and innovation and is well-known for his knowledge and perspectives on the subject. Anupam is the founding Co-chair of H2 India and a founding member and past chairman of the Internet & Mobile Association of India (IAMAI).

Anupam Mittal – Shark Tank India

Mittal has been a “Shark” on Shark Tank India for Seasons 1, 2, and 3 on SonyLiv. In Season 1, he invested INR 5.4 crore in 25 businesses. In Season 2, he again invested INR 5.4 crore in 25 businesses. In Season 3, his investment grew to INR 8.05 crore in different companies. He will be seen in Season 4 too.

In Shark Tank India, Anupam Mittal is considered a seasoned entrepreneur and investor known for his expertise in startups and business growth.

Anupam Mittal – Awards and Recognitions

Anupam Mittal has been awarded with various awards and recognitions:

In 2011, Mittal won the award for the most innovative company in India from Fast Company, a US business magazine.
He received the Karmaveer Chakra Award for Entrepreneurs for Social Change.
Business Standard named him the top angel investor in 2014 and 2015 for investing in 25 and 34 start-ups.
In 2016, Forbes listed him as one of India’s 8 most prominent angel investors.
In 2020, he won the TiE Award for Outstanding Serial Entrepreneur and Angel Investor.
He was also ranked among the 50 Most Powerful People in India by The Week.

Conclusion

Anupam Mittal was named one of India’s 50 Most Influential People by Business Week, and TiE recognized him Outstanding Serial Entrepreneur & Angel Investor in January 2020. In addition, he received the Karmaveer Puraskar (Award for Social Justice and Citizen Action) in the area of “Entrepreneur for Social Change.”

Anupam Mittal became India’s number-one matchmaker thanks to his matrimonial website. Multiple people look up to the businessman who wears many hats today.

FAQs

What is Anupam Mittal’s age?

Anupam Mittal was born on 23 December 1971. He is 54 years old.

What is the net worth of Anupam Mittal?

The net worth of Anupam Mittal is around $23 million (Rs. 185 crores).

Who is Anupam Mittal wife?

Aanchal Kumar is the wife of Anupam Mittal.

Is Anupam Mittal an angel investor?

Yes, Anupam Mittal is amongst the most active angel investors in India.

How many deals did Anupam Mittal make in Shark Tank India?

Anupam Mittal made 24 Business deals in Shark Tank India.

What amount did Anupam Mittal invest in the Shark Tank India show?

Anupam Mittal invested $656.35K (Rs. 5.4 crores) in 24 startups in Shark Tank India.

Which are the top startups among Anupam Mittal’s investments?

Some of the top startups Anupam Mittal invested in are:

Ola
BigBasket
Rupeek
Druva
LittleEyeLabs

Who is Shaadi.com founder?

Anupam Mittal is the founder and CEO of Shaadi.com.

How did Anupam Mittal make money?

Anupam Mittal made money by founding Shaadi.com and investing in startups as an angel investor.

What is Anupam Mittal education?

Anupam Mittal studied at Boston College in the USA, earning an MBA in Operations and Strategic Management.

November 20, 2024

Alice Walton: From Billionaire Heiress to Visionary, A Journey Beyond Walmart Bridging Art and Community

Alice Louise Walton was born in Newport Arkansas on October 7th, 1949, and grew up in Bentonville where her father founded the Walmart empire. She is the youngest of four siblings including S.Robson Walton, Jim Walton, and John Walton, and is the only daughter of the retail giant.

With her economics degree in hand, she embarked on her journey, as an equity analyst and fund manager. She founded an investment bank where she held the positions of president, chairwoman, and CEO.

Alice Walton is recognized not for her expertise and business skills but also for her generous donations, towards supporting art programs as well as education and healthcare initiatives that aim to improve economic opportunities, for many.

Alice Walton is making waves in fields; leading an investment bank and contributing to groundbreaking advancements in medicine; reshaping the perception of billionaires incrementally, with every dollar she invests or donates.

Alice Louise Walton – Biography

Name	Alice Walton
Born	October 7, 1949
Nationality	American
Hometown	Newport, Arkansas
Education	Trinity University
Parents	Sam Walton (Father) and Helen Walton (Mother)
Siblings	Rob Walton, John Walton, Jim Walton
Net Worth	$94.2 Billion (as of November 2024)
Known for	Heiress to the Walmart fortune, World’s Wealthiest Woman (2024)

Alice Walton – Early Life and Education
Alice Walton – Career
Alice Walton – Personal Life
Alice Walton – Political Motivations
Alice Walton – Association with Art
Alice Walton – Philanthropic Works
Alice Walton – Contribution to the Healthcare Sector
Alice Walton Awards
Alice Walton – Interesting Facts

Alice Walton – Early Life and Education

Born to Sam and Helen Walton, Alice was raised with her three brothers in Bentonville, Arkansas. She completed her high school education in 1966 from Bentonville High School and went on to get her BA in economics from Trinity University.

Alice Walton – Career

Alice started her career as an equity analyst and money manager for First Commerce Corporation. After which she went on to head the entire investment portfolio at Arvest Bank Group. She also had a brief stint as a broker for EF Hutton. Her actual career break came in 1988 when she founded the Llama Company, an investment bank. Sadly, the company folded in 1998 due to the bond market crash.

Alice Walton – Personal Life

Alice’s personal life remains shrouded in mystery with information except, for what the tabloids have shared about her past marriage to a well-known investment banker, from Louisiana, which ended in divorce after just two and a half years.

Regrettably, Alice’s past includes a series of car crashes—one of them turned fatal back, in 1983 when she lost control of her Jeep and veered into a ravine, to Acapulco resulting in a leg that required airlifting out of Mexico and multiple surgeries since then she continues to endure persistent leg pain.

Again in April 1989, Alice struck and killed 50-year-old Oleta Hardin. But no charges were filed. In 2021, she was arrested for a DWI in Parker County, Texas. Unfortunately, the arresting officer was suspended and the DA let the statute of limitations for the charges to expire.

Alice Walton – Political Motivations

Alice Walton was one of the largest individual contributors in the 2004 elections where she donated $2.6 million to the Conservation Progress for America Group. In 2012, she contributed over $200,000 to the Restore Our Future campaign, associated with Mitt Romney. In 2016, she donated $353,400 to the Hillary Victory Fund to support Hillary Clinton’s campaign.

Alice Walton – Association with Art

Alice is an avid lover of Art, and as stories go, she purchased a print of Picasso’s Blue Nude at only 10 years of age. In 1980 she purchased her first-ever artwork, two Winslow Homer watercolours.

Following is the list of some pieces she purchased:

December 2004 – Collection of Daniel and Rita Fraad
2005 – Aher Brown Durand’s Kindred Spirits for $35 million
2009 – Norman Rockwell’s Rosie the Riveter for $4.9 million

Some other artists’ works she owns are:

Paintings by Winslow Homer and Edward Hopper
Portrait of George Washington by Charles Willson Peale
Smoker #9 by Tom Wesselmann
Georgia O’Keeffe
Mark Rothko
Kehinde Wiley
Titus Kaphar

Alice’s love for art led to the Walton Family Foundation building the Crystal Bridges Museum of American Art. Built on 120 acres of Walton land, the museum opened its doors in 2011 and has had more than 13 million visitors as of 2024. Alice made sure that the museum was free for all, as she wanted to give people the opportunity to view art.

Alice Walton – Philanthropic Works

The Walton family is associated with multiple philanthropic institutions, one of the biggest being the Alice L. Walton Foundation. Founded in 2017, the foundation has expanded into art, education, health, and the economy as well. The foundation has supported the following:

2020 – The University of Central Arkansas $3 million received funding for its fine arts program
2020 – The University of Arkansas for Medical Sciences received $1.28 million to provide healthy food for schools.
2022 – Northwest Arkansas Food Bank received $3.5 million: $3 million for the construction of a food distribution center, and $500,000 for purchase and distribution of food.

Another philanthropic association Alice formed was the Art Bridges Foundation. The foundation helps fund, collect, and transport exhibits, and create programs with different museums. The foundation also has a Fellows Program that helps people from underrepresented groups to work with their museum partners.

Alice Walton – Contribution to the Healthcare Sector

Alice Walton helped set up the Whole Health Institute in 2019. The main aim of the institution is to help the health system and communities gain access to holistic healthcare for all. In 2021, the institute promoted the building of a nonprofit medical school in Bentonville that would focus on allopathic medicine.

The Alice L. Walton Foundation in 2021 partnered with the Cleveland Clinic to evaluate the entire healthcare system in Northwest Arkansas. Post the evaluation, the foundation and the Washington Regional Medical System had plans to create a nonprofit medical system that helped train doctors in fields such as neurology, oncology, and cardiology.

Alice Walton Awards

2012 – Time magazine most influential people in the world
2013 – Smithsonian Institution Archives of American Art Medal
2018 – International Women’s Forum Hall of Fame inductee
2020 – John Paul Getty Medal

Alice Walton – Interesting Facts

Alice Walton is one of the richest women in the world as per Forbes list at $94.2 billion.
She is a supporter of the Republican party and has donated millions.
She is a licensed pilot and has flown a plane herself for years.
She is also a patron of the arts and has donated millions to museums.

FAQ

How many Waltons are billionaires?

The Walton billionaires are:

Rob Walton
Jim Walton
Alice Walton
Lukas Walton
Christy Walton
Ann Walton Kroenke
Nancy Walton Laurie

Who is the #1 richest family?

The Walton family is the #1 richest family.

How many times has Alice Walton been married?

Alice Walton has been married twice, but both marriages ended in divorce.

November 19, 2024

Sudha Murty: Inspiring Journey of Philanthropy and Success

Mother Teresa, Kalpana Chawla, Sarojini Naidu, and many other women have been the epitome of inspiration to Indian society. Today women have uplifted society and their contribution to our nation has been inseparable from the history of our success. There is one such woman whose contribution to the people of our country has been remarkable. She is Sudha Murty

A prolific writer who is known for her simplicity. Sudha has been greatly revered for her writings, her philanthropy, and her impact on society. She has been dynamic, revolutionary, strong, and obedient.

In this StartupTalky story, let us learn about Sudha Murty’s success story, early life and childhood, life history, personal life, education, philanthropy, achievements, writings and books, and more.

Sudha Murty Biography

Name	Sudha Murty
Birthplace	Shiggaon, India
Born	19 August 1950
Nationality	Indian
Education	BE in Electrical and Electronics Engineering, B. V. B. College of Engineering and Technology ME in Computer Science, Indian Institute of Science
Position	Chairperson, Infosys Foundation
Spouse	N. R. Narayana Murty

Sudha Murty – Early Life
Sudha Murty – Education
Sudha Murty – Career
Sudha Murty – Personal Life
Sudha Murty – Social Work
Sudha Murty – Writings and Books
Sudha Murty – Awards and Achievements
Sudha Murty – Quotes

Sudha Murthy Life Story

Sudha Murty – Early Life

Sudha Murty was born in Shiggaon, Karnataka to her parents Dr. R. H. Kulkarni and Vimla Kulkarni. Her father was a surgeon and his brother Srinivas Kulkarni is a renowned astronomer. He also received the Dan David Prize in the year 2017.

Sudha’s mother always supported her children to achieve high endeavors. It was the family of Sudha Murty who instilled in her the passion to make enormous achievements and achieve extraordinary things in life.

Sudha Murty – Education

She completed her graduation from B.V.B College of Engineering and Technology. She opted for a Bachelor of Engineering in Electrical Engineering and obtained the first rank for which she got a gold medal from Sri Devaraj Urs, former Chief Minister of Karnataka. After completing graduation she joined the Indian Institute of Science to pursue a Masters in Engineering in Computer Science.

Sudha Murty – Career

It was after Sudha completed her studies, that she was hired at Tata Engineering and Locomotive Company (TELCO) which is now known as Tata Motors. Sudha Murty was the first female engineer in India who was hired by India’s largest auto manufacturer. She had written to the chairman of TELCO and complained that there were gender biases in the company. Hearing about this, she was called for a special interview.

Sudha has also worked as a senior system analyst in Walchand Group of Industries in Pune where she lived for seven years (1974 – 1981). Her husband, Narayan Murty was a Research Assistant when he started his career.

While they planned to move to Mumbai in 1981, Narayan shared his dream of creating a software company that could be the biggest venture in the country in the technology industry.

Sudha supported Narayan Murty in every possible way and also shared Rs. 10,000 which was her sole savings. She was the strongest pillar of Infosys and the career of Narayan Murty in those days.

For a few years, both Sudha Murty and Narayan Murty worked together for Infosys, but they were compromising on their family life. That is when Sudha decided to continue her role as a homemaker.

Sudha also started Infosys Foundation in the year 1996 and continued to be the trustee of the company. She has built 2300 houses with the help of this foundation in the areas which were affected by floods. Also, she helps the society where there are problems of poverty, public hygiene, healthcare, education, and art and culture. Her foundation has built more than 70,000 libraries in schools and 16,000 toilets.

Sudha Murty – Personal Life

While Sudha was working in TELCO, Pune, she met Mr. Narayana Murty and got married to him. Rohan and Akshata are their kids. She is known for her social and philanthropic contribution and also her excellent service to literature in English and Kannada language.

Sudha Murty was also fond of acting. Based on her novel Rhun, she made her debut in a Marathi Film named Pitruroon. She is very fond of movies and says that she watches 265 movies in a year. She also mentioned in one of the interviews that if she had not chosen Engineering she would have opted for the profession of a Film Journalist.

In a recent TV Show, Sudha Murthy shared how she met Narayana Murthy.

They met through a mutual friend, Prasanna, who was Narayana’s roommate. After knowing each other for four years, they got married in 1978. Over the years, they have supported each other’s work and values. Sudha said Narayana’s dedication and punctuality inspired her to become more focused and disciplined. They share a story of friendship, partnership, and mutual respect.

Sudha Murthy, prefers traveling in economy class, even though her husband, Narayana Murthy, asks her to travel in business class.

“I spend all money on philanthropy. He’ll tell me to buy business class tickets, but I say, ‘Why? I will reach the same destination, at the same time with an economy ticket too,” she said.

While Sudha Murthy admits to not being a great cook, she is a celebrated author and an inspiring philanthropist.

Sudha Murty – Social Work

Sudha is known for her philanthropic work. She has helped society in enormous ways. From public hygiene, and poverty alleviation to spreading awareness about rural education and women empowerment; she has worked for all. She aims and dreams about a clean India hence she works on building toilets for the public. She has also been very passionate about aiding the people with all necessary resources who suffer due to floods.

Sudha has been working with the Gates Foundation for many years now. She thinks that education is the key to the nation’s well-being. She has helped many orphans by building orphanages, and kids with computers at schools too.

Sudha Murty – Writings and Books

Sudha Murty is a wonderful and well-renowned author. Her writings revolve around her life experiences, her realizing views, hospitality, and charity. Many of her Kannada Books were translated into English books and television series.

When she was 29, she had her first book published for which she visited the USA, and dedicated her first book to her husband Narayana Murty. It was at the age of 50 when she started writing books in the English language. To date, she has scribbled many short stories, children’s books, fiction, novels, and a lot more.

At the launch of her 300th book in September 2024, Grandpa’s Bag of Stories (Puffin), Sudha Murty shared a message for her younger self: “Writing is about the passion to express yourself, not borders or degrees. If you have that passion, you will write.”

The book features 19 stories about four children traveling to Mayawati in Uttarakhand with their grandparents. Along the way, their grandfather shares tales of kings, princesses, and mermaids, teaching lessons of wisdom and kindness.

Here are a few famous books written by Sudha Murty:

Books in the Kannada language:

Dollar Sose
Runa
Kaveri inda Mekaangige
Hakkiya Teradalli
Athirikthe
Guttondu Heluve
Mahashweta
Tumla
Nooniya Sahasagalu
Samanyralli Asamanyaru
Compuer lokadalli

Books in the English language:

The Mother I Never Knew
Three Thousand Stitches
The Man from the Egg
Here, There, Everywhere
Magic of the Lost Temple
How I Taught My Grandmother to Read and Other Stories
The Old Man And His God
Dollar Bahu
Wise and Otherwise
Mahashweta

Sudha Murty – Awards and Achievements

Sudha Murty has received many recognitions in her long career. She has been an inspiration to many and is the epitome of voluntary service.

Sudha Murty won Padma Shri in the year 2006, India’s fourth-highest civilian honor.
Cash Prize for securing the highest marks in SSLC. Sri Devaraj Urs, Chief Minister of Karnataka then honored her with a Gold Medal since Sudha secured the highest marks in the state in B.E.
Indian Institute of Engineers honored Sudha Murty with a gold medal for having secured the 1st Rank in MTech.
Sudha was honored with R.K. Narayana’s Award of Literature.
In the year 2000, she was awarded the ‘Ojaswini’ award for her excellent social work.
In the year 1995, she was awarded the Millenium Mahila Shiromani Award.
The Rotary Club of Karnataka gave her the award of Best Teacher.
At the Crossword-Raymond Books Awards, Sudha got the Lifetime Achievement Award.
She was awarded the Honorary Degree of Doctor of Science by IIT Kanpur.

Sudha Murty – Quotes

💡

¨Life is an exam where the syllabus is unknown and question papers are not set. Nor are there model answer papers.¨

💡

Money is one thing that rarely unites and mostly divides people.

Conclusion

Sudha Murty is a person who has worked towards her vision, as no one else. She has been consistent and determined in her work to change society for the greater good. Her writings and her philanthropic work have impacted many in society and inspired people to do good for others. Sudha Murthy’s life is an inspirational story for all of us!

FAQ

Who is Sudha Murthy?

Sudha Murthy is an Indian author, philanthropist, and chairperson of the Infosys Foundation. She is known for her contributions to education, healthcare, and women’s empowerment, as well as her books in English and Kannada. She is married to Infosys co-founder N. R. Narayana Murthy.

What is the net worth of Sudha Murthy?

The net worth of Sudha Murty is approximately INR 775 crore.

What is the age of Sudha Murthy?

Sudha Murty was born on 19 August 1950 and is 73 years old.

What is Sudha Murty education?

Sudha Murty completed a B.Eng. in Electrical and Electronics Engineering from the B.V.B. College of Engineering & Technology.

November 18, 2024

Lakshmi Mittal: The Steel King Who Revolutionized The Rules of the Steel Industry

An Indian-born business tycoon, Lakshmi Mittal, turned the steel industry into a global empire. Mittal was born on July 15, 1950, in Sadulpur, Rajasthan, where his father made his fortune in steel.

Mittal was born into a modest family background, but his visionary leadership and strategic acquisitions made him one of the world’s richest men. With a network covering many continents, he founded ArcelorMittal, the world’s largest steelmaking company.

In this StartupTalky article, we’ll explore the fascinating history of Lakshmi Mittal, the obstacles he overcame, and what his legacy in the steel industry is today.

Lakshmi Mittal – Biography

Name	Lakshmi Mittal
Born	July 15, 1950
Birth Place	Sadulpur, Rajasthan
Nationality	Indian
Education	Daulatram Nopany Vidyalaya, Calcutta Graduated from St. Xavier’s College (B.Com.)
Profession	Executive Chairman of ArcelorMittal
Net Worth	$16 Billion
Spouse	Usha Mittal
Children	Aditya Mittal (Son) and Vanisha Mittal (Daughter)
Parents	Mohanlal Mittal (Father) and Geeta Mittal (Mother)
Siblings	Pramod Mittal (Brother), Vinod Mittal (Brother) and Seema Lohia (Sister)

Lakshmi Mittal – Early Life and Education
Lakshmi Mittal – Career
Lakshmi Mittal – Personal Life
Lakshmi Mittal – Investments
Lakshmi Mittal – Philanthropy
Lakshmi Mittal – Controversies
Lakshmi Mittal – Awards and Recognition
Lakshmi Mittal – Interesting Facts

Lakshmi Mittal – Early Life and Education

Lakshmi Mittal - Executive Chairman at ArcelorMittal — Lakshmi Mittal – Executive Chairman at ArcelorMittal

Lakshmi Mittal, the son of a prominent Marwari businessman named Mohanlal Mittal, was born on July 15, 1950, in Sadulpur, Rajasthan. His father, Mohanlal Mittal, was a well-known businessman in India who ran a small steel company, Nippon Denro Ispat. Lakshmi had grown up in a family that had strong ties to the steel industry and already knew something about business, which would come to shape his career.

Mittal studied at Shri Daulatram Nopany Vidyalaya in Calcutta (now Kolkata) from 1957 to 1964, where he passed his primary and secondary education. After completing his schooling there, Mittal went on to earn a Bachelor of Commerce (B.Com.) degree at St. Xavier’s College in Kolkata, one of India’s premier institutions.

Lakshmi Mittal – Career

Mittal’s ambitions always extended beyond India’s borders, and in the 1970s, when the Indian steel industry was heavily regulated, he sought growth opportunities overseas. ‘PT Ispat Indo’ was his first independent steel plant in Indonesia, marking the beginning of the Mittal Steel empire, showcasing Mittal’s willingness to take risks and make a bold move. Mittal didn’t only expand his business into the Indonesian market but also set the firm foundation for future acquisitions.

In the following years, Mittal was driven by an insatiable appetite for growth and started to buy up distressed steel mills around the globe. ‘Ispat International’ was a rapidly growing company, and Mittal meticulously scouted for opportunities in Trinidad, Mexico, and Romania, integrating these entities into his company. These acquisitions were a strategic move by Mittal to combine the strengths of each mill and optimise the efficiencies in the enterprise. Mittal knew the market inside out, and every acquisition was a reflection of his understanding of market dynamics and ability to make struggling operations profitable.

In 2004, Lakshmi Mittal brought his empire together by merging ‘Ispat International’ with ‘LNM Holdings’ and the ‘U.S.-based International Steel Group’. The well-thought move led to the creation of ‘Mittal Steel Company’, which became a leader in steelmaking, becoming the world’s leading steelmaker in a short time. Mittal’s ambition kept growing, and he eyed the European market. In 2006, he engineered an audacious merger with Arcelor, a giant European steel company, which became ArcelorMittal. This merger made him a dominant force in the industry, with ArcelorMittal possessing a large share of global steel production.

Mittal’s mastery of mergers and acquisitions is only part of the reason behind his success; he is also steadfast in his commitment to innovation. ‘ArcelorMittal’ invested heavily under his guidance in advanced technologies and sustainable practices. The company’s product line was diversified to include hot-rolled and cold-rolled steel, galvanized steel, and welted pipes, among other products.

The financial resilience of the company is reflected in its ‘ArcelorMittal’s’ financial result by the third quarter of 2023, with EBITDA of $1.9 billion and net income of $1.2 billion. The company’s financial prowess was based on a net debt reduction of $4.3 billion, a result of the company’s strategic financial management and optimized portfolio.

Beyond corporate successes, Mittal has been leading ArcelorMittal in developing future leadership. His son, Aditya Mittal, has taken over as CEO, making sure that there is a smooth transition and continuity in leadership.

Lakshmi Mittal – Personal Life

Lakshmi Mittal is a man who has a very close family commitment and exclusivity. Mittal is married to Usha Mittal, and the couple have two children, a son named Aditya and a daughter named Vanisha.

Mittal has two brothers, Pramod Mittal and Vinod Mittal, and a sister, Seema Lohia, married to prominent Indonesian businessman Sri Prakash Lohia. The family bond has bridged both the personal and professional spheres, forming a support system that spans across continents.

Mittal is also famous for his luxurious lifestyle, having made headlines for high-profile expenditures, including a $128 million London home and a $60 million Paris wedding for his daughter.

Lakshmi Mittal – Investments

Lakshmi Mittal’s investments mirror his strategic vision: an unrelenting dedication to exclusivity, luxury, and legacy. Among Mittal’s notable acquisitions is the grand mansion at 18-19 Kensington Palace Gardens in London. This residence was the world’s most expensive home acquisition of 2004, purchased for £67 million from former Formula One executive Bernie Ecclestone. Taj Mittal, as it is known, is decorated with marble from the same quarry as the Taj Mahal, a reference to Mittal’s determination to have the best of the best. As a powerful symbol of his success, the property has twelve bedrooms, a luxurious indoor pool and Turkish baths, and parking for twenty vehicles.

In 2008, Mittal brought No. 9A Palace Greens in Kensington Gardens at £70 million as a wedding present for his daughter, Vanisha Mittal, which was formerly the Philippines Embassy. The acquisition was very much in line with Mittal’s emphasis to both build a financial and a family legacy, as seen in the company’s preference for securing prestigious real estate in London’s most exclusive neighbourhoods.

Mittal has also invested in India’s prestigious real estate market, in addition to his London holdings. He bought a colonial bungalow at $30 million on Dr. APJ Abdul Kalam Road in New Delhi, which was comprehensively renovated to meet Mittal’s refined tastes among the high-profile residents, diplomats, and billionaire estates.

Lakshmi Mittal – Philanthropy

Mittal’s legacy goes beyond his accomplishments in the steel industry, as he established the LNM Foundation, a platform for social responsibility that aims to improve education, healthcare, and the development of the community.

Mittal’s philanthropic efforts include a lot of social causes through the LNM Foundation. It shows his belief in the role of corporate responsibility in the fight against societal challenges and his dedication to giving back.

Under the LNM Foundation, Mittal awarded Abhinav Bindra for winning the first Olympic gold medal for India with INR 1.5 crore to support Indian athletes on a global level. He has also opened educational institutes in India like LNMIIT in Jaipur and the Usha Mittal Institute of Management in New Delhi.

In January 2018, Mittal donated to Great Ormond Street Hospital to open Mittal Children’s Medical Center to treat underprivileged children and kids with chronic illnesses. Apart from this, they have made substantial donations to UNICEF, Harvard University, and the PM Modi Care Fund during COVID-19.

Lakshmi Mittal – Controversies

Although regarded as one of the most respected entrepreneurs to have transformed the global steel industry, Lakshmi Mittal has been embroiled in several controversies over the years. A lot of these controversies are around political donations, environmental issues, labour practices, and business practices that have been in the spotlight.

Influence in the UK

A billionaire steel magnate and top donor to Harvard, Lakshmi Mittal has a complex and controversial reputation. But ArcelorMittal, his global enterprise, has been in the spotlight for a series of high-profile controversies. In 2001, Mittal tried to buy a state-owned steel plant in Romania, which caused one major incident. Then UK Prime Minister Tony Blair allegedly sent a letter of support to the Romanian government, which many believe was instrumental in getting the deal for Mittal. The financial backing of Blair’s Labour Party by Mittal prompted scrutiny and allegations of political favouritism.

Poor Labour Practices

In Kazakhstan alone, Mittal’s operations have come under further controversies for poor labour practices. Over a hundred workers died between 2004 and 2010 in Mittal’s Kazakh facilities, according to critics who say substandard safety conditions were to blame. Environmental issues have also been a problem, especially in the city of Temirtau, where a large ArcelorMittal plant is accused of pollution so bad that in 2018, residents complained of black snow clogging with pollutants.

Political Donations

Critics of Mittal’s philanthropy have pointed to his generous donation to Harvard’s Lakshmi Mittal and Family South Asia Institute as inconsistent with the alleged ethical problems associated with his business practices. Mittal’s donations are used to support academic initiatives, but critics say such acts of philanthropy are always employed to muddy or cover up questions about his business record. It’s a broader public that is still worried about Mittal’s far-reaching links to political and economic circles, the ethical aspects of his wealth, and his membership in prestigious institutions like Harvard.

Criticism Over Layoffs and Closure

In 2006, ArcelorMittal’s CEO, Lakshmi Mittal, was a controversial figure in France after buying European steel giant Arcelor. Even though Mittal’s company had a lot of European operations, ArcelorMittal was constantly criticized as being ‘the Indian group’, often taking the fall for layoffs and economic troubles. That controversy reached its peak when ArcelorMittal decided to close two furnaces in Florange, putting 629 workers out of a job. Mittal was a ‘predator’ during a period of rising unemployment and falling steel demand; Industrial Recovery Minister Arnaud Montebourg even threatened to nationalize. The shutdown was economic, but the tone of the criticism was personal and xenophobic, adding to the debate over foreign ownership in French industries.

Business Practices

During his career, Lakshmi Mittal has been embroiled in a number of controversies. In 2003, he hired consultant Marek Dochnal to influence Polish officials during the privatization of the PHS steel group, which was later scrutinized and led to a 2007 renegotiation attempt by the Polish government. Mittal’s company has also been accused of ‘slave labour,’ and has been severely criticized for the conditions of its labour force.

Lakshmi Mittal – Awards and Recognition

Padma Vibhushan in the year 2008
Forbes Lifetime Achievement 2008
2007 Fellowship Award by King’s College London
Bessemer Gold Medal in 2007
2004 European Businessman of the Year
2004 Entrepreneur of the Year by The Wall Street Journal
8th honorary Willy Korf Steel Vision Award 2004
1996 Steel Maker of the Year
Ranked 15th on Forbes list of India’s 100 richest tycoons in October 2024

Lakshmi Mittal – Interesting Facts

Lakshmi Mittal was born in the village of Sadulpur, where there was no electricity until the 1960s.
In a house with 25 people, he grew up in a modest household and slept on the floor on mattresses.
Mittal bought a government-owned steel plant in Trinidad and Tobago, which was losing $1 million a day in 1989. Even international experts had failed to achieve this; it became a profitable enterprise under his leadership.
He also brought his business overseas, buying several steel companies in Canada, Ireland, Germany, and other countries, including the country’s third-largest steel producer, Sicartsa, for $220 million in 1992.
In 1995, Mittal also acquired the state-owned blast furnace steel plant in Kazakhstan, which, renamed Ispat Karmet, solidified his global steel empire even further.
In 1996, Mittal was given the title of “Steel Maker of the Year” by New Steel Magazine.
In 1998, he received the prestigious Willy Korf Steel Vision Award for his outstanding contributions to the steel industry.
According to Forbes, Mittal was the third richest person in the world in 2005.
In 2007, he was named one of Time magazine’s ‘100 Most Influential People.’
In 2008, Mittal was awarded the Forbes Lifetime Achievement Award for his great contribution.

FAQ

Who is the CEO of ArcelorMittal?

Aditya Mittal is the CEO of ArcelorMittal. Lakshmi Mittal, his father, serves as the Executive Chairman.

Who is ArcelorMittal owned by?

ArcelorMittal is primarily owned by the Mittal family, with Lakshmi Mittal and his family holding a significant share of the company.

Who is the steel king of the world?

Lakshmi Mittal is often referred to as the “Steel King of the World” due to his leadership in the global steel industry and his role in building ArcelorMittal into the world’s largest steel-producing company.

November 17, 2024

Kaivalya Vohra: A Visionary Entrepreneur Redefining Quick Commerce
Kaivalya Vohra, India’s youngest billionaire, and co-founder of Zepto, has made a remarkable name for himself in business at a very young age. Known for revolutionizing the quick-commerce industry, his story stands as an example of how the drive to bring a change can transform the way people experience everyday services.

His entrepreneurial success under his leadership has attracted widespread attention, making him a prominent figure in India’s business landscape. His story is one of the inspiring tales every young entrepreneur looks to learn from. Let’s dive into the story of his towering success.

Kaivalya Vohra – Biography

Name Kaivalya Vohra

Birth March 15, 2003

Birth Place Bengaluru

Education Bachelor’s degree in Computer Science at Stanford University (dropped out)

Position Co-Founder & CTO of Zepto

Kaivalya Vohra – Early Life and Education
Kaivalya Vohra – Career
Kaivalya Vohra – Zepto
Kaivalya Vohra – Personal Life
Kaivalya Vohra – Awards and Recognitions
Kaivalya Vohra – Future Plans

Kaivalya Vohra – Early Life and Education

Hailing from Bengaluru, he was brought up in Dubai. His family valued learning and innovation which shaped Kaivalya’s life and later fuelled his entrepreneurial ventures.

His passion for learning led him to excel academically, and he soon found himself at Stanford University, where he pursued computer science. However, while Stanford opened doors to learning from the best minds in technology, Kaivalya’s ambition couldn’t be contained in the classroom.

During his time at Stanford, he began exploring opportunities in the startup ecosystem. His entrepreneurial spirit was reignited, pushing him to rethink his academic journey and prioritize building something impactful over following a conventional path. It was this mindset that led to a life-changing decision—leaving one of the most prestigious universities to venture into the business world just like his partner and co-founder of Zepto, Aadit Palicha.

Aadit Palicha: The College Dropout Driving Zepto’s Rapid Success | Career | Net Worth | Education

Aadit Palicha, the college dropout and co-founder and CEO of Zepto, is revolutionizing India’s quick commerce industry with rapid deliveries and innovative solutions. Discover more about his education, career, net worth, his journey and success story.

StartupTalkyKanimozhi Sivakumar

Kaivalya Vohra – Career

Kaivalya Vohra and Aadit Palicha – Co-founders of Zepto

Leaving Stanford was not an easy choice, but for Kaivalya, the decision was driven by a larger vision. Along with his partner, he noticed a significant gap in India’s commerce industry. The lack of quick, reliable delivery services in the grocery segment inspired them to create a solution that would revolutionize the experience for millions of customers.

Their journey started with their company called Kiranakart, which laid the basement for their next improvised venture.

And so, Zepto was born—a startup built on the promise of delivering groceries within ten minutes. A fun fact is that the name Zepto has its root in “zeptosecond,” the smallest unit of time, reflecting the company’s promise to its customers.

What began as an ambitious idea soon turned into a thriving business. The duo launched Zepto during the pandemic, a time when the demand for home-delivered essentials skyrocketed. The app gained rapid popularity for its efficient service, which resonated with urban consumers who were looking for convenience in their everyday shopping experiences.

Zepto’s unique proposition allowed it to grow at an extraordinary pace, drawing attention from major investors and consumers alike.

Kaivalya Vohra – Zepto

Zepto’s rapid success was no accident. Kaivalya’s strategic insights and leadership played a crucial role in the company’s ascent to prominence. Under his guidance, Zepto tapped into the quick-commerce industry, a sector that was still in its infancy in India. By building a hyper-local supply chain, ensuring swift delivery times, and prioritizing customer satisfaction, Zepto established itself as a key player in the eCommerce market.

The company’s growth was meteoric. Within a short period, Zepto raised significant funding from major investors, reaching a valuation that few startups achieve in such a brief timeframe. This growth made Kaivalya one of India’s youngest billionaires, a testament to his ability to navigate a highly competitive market.

Kaivalya and Aadit’s bold approach to tackling challenges, their eye for innovation, and their focus on creating seamless customer experiences were pivotal to Zepto’s dominance in the industry.

Zepto Success Story: Owners | Growth | Funding |Challenges

Zepto is a grocery delivery app that delivers groceries to your home in ten minutes. Learn more about Zepto, its founders, funding, growth, challenges, etc. Explore how this $5 billion unicorn leads in quick commerce.

StartupTalkySarika Anand

Kaivalya Vohra – Personal Life

Behind the corporate success, Kaivalya remains grounded. Despite his immense wealth and business achievements, he is known for his low-key lifestyle. Kaivalya prefers to keep his personal life private, focusing his energy on growing his business and working on innovations.

Outside of work, Kaivalya’s passion for technology continues to influence his life. He is known to keep himself updated with the latest advancements in tech and business.

Kaivalya values staying connected with his roots and makes time every few months to catch up with his childhood friends, despite his busy schedule. He says that for now, he’s fully dedicated to building Zepto, prioritizing growth over work-life balance.

A fitness enthusiast, Kaivalya prioritizes physical exercise, finding his hour in the gym without gadgets therapeutic. He was also seen mentioning about incorporating meditation into his daily routine, spending at least 10 minutes each day, either before work or during his commute, to stay centered and focused.

Kaivalya Vohra – Awards and Recognitions

Kaivalya’s contributions to the business world haven’t gone unnoticed. His journey from a college dropout to a billionaire has been recognized by prestigious institutions and publications.
- In 2024, he was listed in the Hurun India Rich List as the youngest Indian billionaire, a milestone that showcases his rapid rise to the top.
- His achievements have been highlighted by major media outlets like Forbes India, Economic Times, and Financial Express, solidifying his reputation as a game-changer in the quick-commerce space.
- Kaivalya has also taken a place on Forbes’ influential 30 under 30 Asia list.
Beyond personal accolades, Zepto itself has received multiple awards and recognition for its innovation in e-commerce and customer service. The startup’s ability to transform grocery delivery and challenge traditional business models has made it a celebrated case study in India’s burgeoning tech ecosystem.

Kaivalya Vohra – Future Plans

While the success of Zepto has been extraordinary, the journey has not been without challenges. But that hasn’t stopped the duo from looking ambitiously into the future.

Kaivalya is focused on expanding Zepto’s footprint, both within India and potentially globally. As the quick-commerce industry continues to evolve, Kaivalya is committed to staying ahead of the curve. He envisions Zepto becoming synonymous with fast, reliable service, catering to a wider range of products beyond groceries. His drive to innovate, paired with a deep understanding of consumer needs, will likely fuel Zepto’s continued growth in the coming years.

Zepto Business Model | How Zepto Makes Money

Through this article, we will go over the basics of Zepto, including its business model and how it generates revenue.

StartupTalkyNitin Konde

FAQs

Who is Kaivalya Vohra?

Kaivalya Vohra is the co-founder and CTO of Zepto.

What is Kaivalya Vohra education?

Kaivalya Vohra is a former student of Stanford University, where he began pursuing a Bachelor’s degree in Computer Science before choosing to leave the program to focus on other ventures.

What is Kaivalya Vohra age?

Kaivalya Vohra is 21 years old.

Who is the CEO of Zepto?

Aadit Palicha is the co-founder and CEO of Zepto.
November 15, 2024

Name	Kaivalya Vohra
Birth	March 15, 2003
Birth Place	Bengaluru
Education	Bachelor’s degree in Computer Science at Stanford University (dropped out)
Position	Co-Founder & CTO of Zepto

Hitesh Doshi: The Journey From ₹5,000 to $5.2 Billion Renewable Energy Tycoon

Waaree Energies is led by the visionary Chairman and Managing Director Hitesh Chimanlal Doshi, who has not only changed the face of Indian solar but has also set an example of entrepreneurship. He was born on Feb 22, 1967, in a small village, Tunki, in Maharashtra, where he grew up in an economic and resource-poor family.

Doshi had a dream to make a better future for himself and to be part of constructing India’s energy needs. What started as a small venture manufacturing pressure and temperature gauges has evolved into a colossal enterprise: India’s largest solar energy company, Waaree Energies.

In this StartupTalky story, we will cover his early life, his struggles, Waaree Group’s founding, and more. We will look at how innovative Hitesh Doshi has been in becoming a business tycoon. We will also learn about the investments made, controversies, and remarkable recognitions he has achieved for his role in India’s renewable energy sector.

Biography

Name	Hitesh Doshi
Born	February 22, 1967
Birth Place	Tunki, Maharashtra
Education	Khoteawar Maharaj Vidhyalay Eklara Buldhana Bachelor’s Degree in Commerce, Shri Chinai College of Commerce & Economics, University of Mumbai. Doctorate in professional entrepreneurship in business project management, European Continental University
Profession	Chairman and Managing Director of Waaree Group
Net Worth	$5.2 Billion
Parents	Chimanlal Doshi (Father)
Children	Chaitali Doshi (Daughter) Ankit Doshi (Son)
Siblings	Pankaj Doshi Kirit Doshi Viren Doshi

Hitesh Doshi – Early Life and Education
Hitesh Doshi – Career
Hitesh Doshi – Waaree Energies
Hitesh Doshi – Investments
Hitesh Doshi – Awards and Recognitions

Hitesh Doshi – Early Life and Education

Hitesh Doshi - Chairman and Managing Director of Waaree Energies — Hitesh Doshi – Chairman and Managing Director of Waaree Energies

The founder of Waaree Group, Hitesh Chimanlal Doshi, comes from a modest background in the Buldhana district of Maharashtra, India. Doshi grew up in a village without electricity or telephones. The family was always under financial constraint, and his father had a small grocery store, but he kept plugging away to build a better future.

Education was a way to provide Doshi with avenues of opportunity; however, his village school taught up to only the 7th grade. Doshi had to cycle daily to a nearby village to pursue further studies. It didn’t scare him; it motivated him to forge beyond the walls of his upbringing. Doshi later went to Shri Chinai College of Commerce & Economics at the University of Mumbai and graduated with a bachelor’s degree in commerce in 1987.

Doshi spent his college years in a hostel in Nagdevi, Mumbai, where he began his entrepreneurial career. Doshi soon became aware that financial independence is important, so he traded and ran a bit of business to keep himself, picking up valuable skills and experience that would one day help him in the renewable energy sector.

Hitesh Doshi – Career

Doshi started his first business with a small loan of INR 5,000 from a relative, manufacturing pressure and temperature gauges. The Waaree Group took this modest beginning as a big step towards its success.

Founding Waaree Energies was a bold step into the renewable energy sector by Hitesh Doshi. Doshi’s company began producing temperature and pressure gauges for industrial uses and soon realized a burgeoning business niche in solar energy. Globally, there is an increasing demand for alternative, sustainable energy solutions, which was a crucial time for India’s energy landscape.

In the early days of Waaree Energies, Doshi spent most of his time creating solar modules. At this time, India was not a major player in the global solar market, and domestic manufacturers were few. As Doshi led Waaree Energies, it managed to carve a space for itself as a niche player in India’s solar market, providing high-quality products for both the residential and industrial markets.

Hitesh Doshi – Waaree Energies

Seeing increasing demand for clean energy all over the world, Waaree Energies began scaling up its operations. The company expanded its solar module manufacturing capability in the mid-2000s and gained a reputation for reliability and quality. Doshi, however, helped Waaree Energies become a leader in India’s solar energy sector even in the face of stiff competition from international players, especially China.

Doshi recognized Waaree’s footprint beyond India, and he realised that the company had the potential to tap into global markets. Government incentives to encourage renewable energy adoption allowed the company to begin exporting solar modules to places like the U.S. The turning point for Waaree was that it was able to reach more lucrative international markets and spread its revenue base.

In 2015, Doshi was instrumental in setting up Waaree Energies’ modern solar module manufacturing facility in Tumb, Gujarat. Investment in the plant was INR 8,000 crore, and it became one of the largest solar panel manufacturing facilities in India. This was a huge expansion, which helped Waaree to increase its production capacity and to serve better the rising domestic and international demand for solar panels.

By 2018, Waaree Energies had become a leader in India’s solar sector. It gained a reputation as a high-performance solar panel company that was trusted across residential and commercial markets. However, Waaree’s expansion was not only manufacturing; it also included a push into solar power generation and EPC services, which were vital to meet the requirements of large-scale infrastructure projects.

Waaree Energies, under Doshi’s leadership, filed for an initial public offering (IPO) on the Bombay Stock Exchange (BSE). This was a big step for the company and a marker of readiness for the next stage. The Waaree Energies IPO generated INR 2,800 crore (around $514 million), which became one of the major investments by Doshi and his company. The IPO was meant to raise capital to expand production capacity and advance research and development, as India pushed for more renewable energy.

Waaree, a part of Waaree Bluegrip, a wholly owned subsidiary of the Waaree Group, headquartered in Rajkot, India, continued its international growth strategy through solidification of the company’s position in the U.S. market. Waaree took advantage of the U.S. government’s clean energy focus by offering high-quality, competitively priced solar products free from Chinese influence, Doshi said. Waaree’s strategic move helped it gain a competitive advantage in one of the biggest solar markets in the world.

Under the leadership of Doshi, Waaree Energies focused on innovation and brought new solar technologies to market to improve efficiency and costs. The company started to concentrate more on the development of high-efficiency solar modules to fortify India’s position as a global leader in renewable energy.

To date, Waaree Energies, under the leadership of Hitesh Doshi, has been expanding and innovating. As a leading contributor to India’s renewable energy goals, the company has played an important role in India’s aspiration to reduce its reliance on fossil fuels and achieve greater energy independence. Doshi has been instrumental in pushing the boundaries of sustainable manufacturing in India’s solar landscape, and Waaree’s impact on India’s solar landscape is undeniable.

Hitesh Doshi – Investments

The Chairman of Waaree Energies, Hitesh Chimanlal Doshi, has been investing heavily in the renewable energy sector through his company, Waaree Energies. Solar cell manufacturing is the company’s focus, and it has emerged as a leading player in the Indian energy landscape, with a manufacturing capacity of 12,000 MW installed. Doshi’s family also owns a large stake in Waaree Renewable Technologies and Waaree Technologies, both listed companies in engineering and energy storage solutions.

Hitesh Doshi – Awards and Recognitions

Global Solar Leader Award (2024)
Renewable Energy Leader of the Year award (2015)

FAQ

Who is the owner of Waaree Group?

The owner of Waaree Group is Hitesh Doshi.

Is Waaree an Indian company?

Yes, Waaree is an Indian company.

How much is Hitesh Chimanlal Doshi worth?

As of 2024, Hitesh Chimanlal Doshi’s net worth is estimated to be around $5.2 billion.

November 14, 2024