7 Budding Entrepreneurs At India's E-Commerce Business
Mukesh Bansal – Co-founder ‘Myntra’
Funds Raised: 780 Crores
Sales: 1500 Crores in 2015 fiscal (target)
Mukesh Bansal is the co-founder of the famous online fashion retail store, Myntra. He is lauded by his early investors for his focus, determination and leadership qualities. Bansal who is an alumnus from IIT-Kanpur, gave equal importance to process building and business growth. He started the customized online apparel business in India after returning from the U.S. where he worked for start-ups.
Bansal displayed risk taking ability when he changed Myntra’s business model. That decision proved right when sales moved towards north. He said, "I give my team a lot of freedom but I have high expectations as well. In 18 months, we want to become the largest fashion retailer in the country."
Zomato’ Co-Founder Deepinder Goyal
Funds Raised: 330 Crores
Sales: Revenue 40 Crores for 2014 fiscal
IIT-Delhi graduate Deepinder Goyal is a foodie by nature and checking out new restaurants is his favorite hobby. He collects as well as photographs its menu. Goyal, the former Bain & Co associate, made use of the large amount of restaurant data collected, to start an online site called Foodiebay.com in 2008 with his co-worker Pankaj Chaddah. In 2010, it received $1 million funding by Info Edge India, and was re-named as Zomato. Goyal, 30, pursues his hobby even now in restaurants like Testaccio or Chinatown.
Goyal hires former entrepreneurs usually. For technical positions, he takes care of travel and other expenses of prospective hires for a week allowing them to figure out their job. Then, a final decision is made about them being taken in to the corporation.
Zomato received $37 million (231 crore) last year and Goyal said that when time is ripe, he does not mind exiting from the enterprise and appointing a non-founder as CEO.