<ul><li>Low ticket size and low margin can never be solved through forced low delivery cost, said <keyword id="2988161" type="General" weightage="20" keywordseo="ashneer-grover" source="Orion">Ashneer Grover</keyword> on 10-minute grocery delivery. </li><li>Hari Menon, the CEO of BigBasket said that consumers never wanted quick delivery, and that it was thrust on them. </li><li>Legacy e-commerce companies who have not generated significant net profit have no authority to make remarks on quick commerce, said Aadit Palicha, the co-founder of Zepto. </li></ul>A war of words has been raging between the heads of quick commerce companies and their non-quick counterparts in the last few weeks. Entrepreneur and startup investor Ashneer Grover too joined in the conversation — insisting that 10-minute quick commerce delivery has no economics. He was commenting on the Blinkit (by Zomato) delivery personnel strike. “Low ticket size and low margin can never be solved through forced low delivery cost,” Grover tweeted summarising Zomato’s Blinkit journey in three steps — 90 Min (bull run) —&gt; Next day (bear run) —&gt; 10 Min (bull run) —&gt; ?? Quick commerce sector has players like Zepto, Reliance-backed Dunzo, Zomato’s Blinkit and Swiggy’s Instamart. While most of them provide 10-minute deliveries, others too offer lightning-fast deliveries of a wide range of groceries — catching the imagination of consumers. However, quick commerce has had its set of detractors, and recently Hari Menon, the chief executive officer (CEO) of BigBasket stirred up the controversy with his comments against quick commerce. While BigBasket has its quick commerce avatar called BigBasketNow, it delivers its groceries in 30 minutes. ‘Qcommerce was thrust on customers’ Grover’s negative opinion on the economics of quick commerce delivery has another backer. Last week at the Sharrp Summit, Menon said that consumers never wanted quick delivery, and that it was thrust on them. A sensible business case involves 15-30 minutes to make a delivery, he added. “Quick commerce has certain dynamics required for unit economics to work, which means you need a high density of orders, it will be cut off at some point. The Bigbasket model will scale, but quick commerce without density doesn't work,” <a href="https://www.cnbctv18.com/business/companies/consumers-never-wanted-10-minute-delivery-says-bigbaskets-co-founder-16394831.htm">Menon said</a>. Menon’s comments had irked Aadit Palicha, the co-founder of Zepto and a Stanford dropout, who started the business during the pandemic when he was 19 years old. He hit back at Menon at the very summit saying that legacy e-commerce companies who have not generated significant net profit have no authority to make remarks on quick commerce’s sustainability. Palicha, who is preparing to take the company public in the next two years,<a href="https://www.businessinsider.in/business/corporates/news/zepto-preps-for-public-listing-in-2-years-brings-in-ramesh-bafna-as-cfo-to-lead-ipo-process/articleshow/99514143.cms"> had told Business Insider India</a> in a recent interview that a large part of his ‘dark stores’ are profitable, and the financial metrics of the company are very strong. Indians take to quick commerce According to Redseer, Indian consumers are taking to quick commerce, and the adoption is much better than in other countries. India has a quick commerce penetration of 13% versus 7% in China and 3% in EU, respectively. The current market size of quick commerce in India is $5.5 billion – and as of now caters to only 1% of the total domestic grocery market. Redseer also says that the total addressable market (TAM) of quick commerce is at $45 billion. “Emerging as one of the fastest growing e-commerce models, quick commerce is fundamentally changing consumer purchase behaviour and the grocery retail market on the whole by providing faster delivery options (in as little as ten minutes) as well as a more convenience-driven shopping experience,” said the Redseer report. Quick commerce players who have set up dark stores that aid quick deliveries, cater to the mid to upper middle-class consumers, and also offer an eclectic mix of products —- in order to stay ahead of the competition from local kiranas. As of now however, around 70% of all quick commerce purchases are top-up orders. Many platforms have informed that milk, eggs and more are the most searched and purchased items for fast deliveries. Stockup purchases like staples and packaged foods are either purchased offline or through online e-commerce. Apart from the time and the economics, the war of words around e-commerce is about average order value (AOV). Many players are trying to push for it by offering free delivery for larger sized orders. A few services like Instamart charge different delivery prices for faster delivery of services. Moreover, the funding winter which has been taking the wind off the sails for most startups has also had its effect on quick commerce players. Moreover, grocery delivery – fast or otherwise – itself is becoming a tougher business to be in. JioMart Express, which offers 90-minute deliveries, has recently shut this service. At the same time last year, fast delivery service Ola Dash folded up. This, however, can be a blessing in disguise, say analysts. “Competitive intensity has slowed down in quick commerce, which gives incumbents room to build scale moats; and the expectation that the life cycle value of the incremental transacting user in quick commerce could be significantly better than in food delivery at the current stage,” says a recent report by JM Financial. When the dust settles on the war of words around quick commerce, it will be incumbent on the existing players to prove their detractors wrong by delivering profitable businesses. SEE ALSO <a href="https://www.businessinsider.in/business/news/samosas-versus-burgers-the-great-indian-dilemma/articleshow/99488590.cms">Samosas versus burgers: The Great Indian Dilemma</a> <a href="https://www.businessinsider.in/thelife/personalities/keshub-mahindra-the-man-who-played-in-a-role-in-building-indias-auto-industry/articleshow/99425922.cms">Keshub Mahindra: The man who thought impossible is possible</a>

The Big Fight: Ashneer Grover wades into controversy around 10-minute delivery

Former <keyword id="7349800" type="General" weightage="50" keywordseo="bharatpe" source="Orion">BharatPe</keyword> co-founder and managing director <keyword id="2988161" type="General" weightage="80" keywordseo="ashneer-grover" source="Orion">Ashneer Grover</keyword> has revealed he made a cool ₹2.25 crore from <keyword id="830092" type="General" weightage="80" keywordseo="zomato" source="Orion">Zomato</keyword> IPO within 8 minutes of its opening in July last year. In his memoir 'Doglapan', <keyword id="3433" type="General" weightage="100" keywordseo="grover" source="Orion">Grover</keyword> said that with the IPO being oversubscribed more than 30 times, he got an allotment of shares worth over ₹3 crore. "My RMs (relationship managers), based on grey-market premiums, were expecting the Zomato share to list between ₹85-90, as against an issue price of ₹76. I, however, was certain that it would do far better. When the share opened on the listing day at ₹116 per share, I mandated them to sell all my shares," he wrote. By the time the trade got executed, "I got a selling price of ₹136 per share. With my landing cost after interest being between ₹82-85, 1 ended up making over ₹2.25 crore," he said. "Within eight minutes of the Zomato IPO opening, I had made over ₹2.25 crore." Grover said that he became a little greedy post the Zomato IPO. "I went in for the Car Trade IPO but ended up losing ₹25 lakh there," he said. Grover, currently facing a court case filed by BharatPe that he co-founded, said that he was bullish on the Zomato IPO on several counts. "Of course, I knew of Deepinder (Goyal), and I am a big believer in his ability to persevere and keep building big. Fundamentally, with the pandemic the ticket size of their orders had grown, as people were ordering food from home for 3-4 members in the family, as against single rolls in office, thereby increasing Zomato's absolute margins," he wrote. Moreover, with restaurants completely dependent during lockdowns on app orders, there was no risk of the take-rate coming down. "On the other hand, job insecurity among delivery boys kept delivery costs in check. In fact, COVID magically solved the food delivery economics in the country overnight, just like it skyrocketed <keyword id="6358921" type="General" weightage="50" keywordseo="upi" source="Orion">UPI</keyword> penetration," said Grover. Grover was in a heated tussle with Kotak Mahindra Bank after their financing arrangement during the IPO of FSN E-Commerce Ventures Ltd., which owns Nykaa, failed to materialise. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/uber-rides-indians-spent-11-billion-minutes-traveling-and-covered-4-5-billion-kilometers-in-2022/articleshow/96535396.cms">Indians spent 11 billion minutes traveling and covered 4.5 billion kilometers in 2022 in this taxi service</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/venugopal-dhoot-the-man-who-went-from-making-colour-tvs-to-being-involved-in-the-icici-bank-loan-fraud-case/slidelist/96537909.cms">Venugopal Dhoot – The man who went from making colour TVs to being involved in the ICICI Bank loan fraud case</a>

I made ₹2.25 crore within 8 minutes of Zomato IPO opening: Ashneer Grover

Former <keyword id="7349800" type="General" weightage="80" keywordseo="bharatpe" source="Orion">BharatPe</keyword> Founder and CEO <keyword id="2988161" type="General" weightage="80" keywordseo="ashneer-grover" source="Orion">Ashneer Grover</keyword> has written his memoir called 'Doglapan' (double standards) - the Hard Truth about Life and Start-ups' which is available for pre-order and will be available next month. Billed as an "unfettered story of <keyword id="12917061" type="General" weightage="100" keywordseo="ashneer" source="Orion">Ashneer</keyword> Grover - the favourite and misunderstood poster boy of Startup India", the memoir is being called a "raw, gut-wrenching in its honesty and completely from the heart, storytelling at its finest". "Is kitab ko padhne ke baad ya to aap ek dum apni naukri chhod doge ya fir zindagi bhar naukri hi karoge. At least beech mein nahi phase rahoge (After reading this book, you will either quit your job or continue to only be in jobs your whole life. At least, you won't be stuck in the middle)," Grover said in a tweet on Friday. On Friday, he again tweeted: "So overnight my autobiography has become #1 Best Seller. And SOLD OUT as well !! I've scampered to print more copies - get yours before my publisher hits their max capacity." According to the book's brief description on Amazon.in, a young boy with a 'refugee' tag growing up in Delhi's Malviya Nagar outpaces his circumstances by becoming a rank-holder at the pinnacle of academic excellence in India, IIT Delhi. "He goes on to do an MBA from the hallowed halls of IIM Ahmedabad, builds a career as an investment banker at Kotak Investment Banking and AmEx, and is pivotal in the making of two unicorns-Grofers, as CFO, and BharatPe, as co-founder," it reads. As a judge on the popular TV show <keyword id="6533612" type="General" weightage="80" keywordseo="shark" source="Orion">Shark</keyword> Tank India, Grover became a household name even as his life turned upside down. "Controversy, media spotlight, garrulous social media chatter descend, making it difficult to distinguish fact from fiction," read the description. He said the book will offer readers "absolute clarity" on life. After swindling fintech platform BharatPe, Ashneer and his wife Madhuri Jain Grover have formed a new company called Third Unicorn Private Ltd, and are set to launch a third startup. Before co-founding BharatPe, Grover was associated with Grofers, which is now a 15-minute delivery platform Blinkit that has been acquired by Zomato for Rs 4,447 crore (about $568 million) in an all-stock deal. According to data accessed through Tofler, the Grovers have now registered a new company to begin their new journey. The nature of the startup is not known yet. Ashneer and Madhuri, former Head of Controls at BharatPe, are both directors of the firm that was founded in July this year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/ashok-leyland-posts-rs-199-crore-pat-for-q2/articleshow/95449676.cms">Ashok Leyland posts Rs 199 crore PAT for Q2</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/amazon-unveils-design-of-new-prime-air-delivery-drone/articleshow/95446738.cms">Amazon unveils design of new Prime Air delivery drone</a>

Former BharatPe founder Ashneer Grover pens memoir called 'Doglapan'

<ul><li>On Monday, Gunjan Patidar, Zomato’s co-founder and chief technology officer tendered his resignation.</li><li><keyword id="7349800" type="General" weightage="20" keywordseo="bharatpe" source="Orion">BharatPe</keyword>’s CEO Suhail Sameer has quit the top job to become its strategic advisor.</li><li>There has been a lot of churn in new-age companies like Nykaa, and also big techs like Meta India, WhatsApp Pay, Amazon India and more.</li></ul>New age companies in India have been hit by a flurry of exits by top executives, leaving them scurrying for replacements. This comes at a time when startups have been battling funding winter and elevated inflation, in a rising interest rate regime. BharatPe, a fintech is amongst those with multiple high profile exits, including its co-founder and former managing director Ashneer Grover, along with his wife Madhuri Jain Grover – who not only had to leave the company, but were also sued by BharatPe in December 2022 for ₹88.6 crore. The company alleged that both husband and wife engaged in misappropriation of funds including creating fake bills, enlisting fictitious vendors and so on. Adding to BharatPe’s woes is the <a href="https://www.businessinsider.in/business/startups/news/bharatpe-ceo-suhail-sameer-to-step-down-five-months-after-taking-over/articleshow/96703750.cms">departure</a> of its CEO Suhail Sameer on January 3. Sameer took over as the company’s CEO in August 2021, a year after being appointed as the company’s president. He will now serve as a strategic advisor starting January 7, 2023. Before Sameer, BharatPe witnessed the departure of four other high level executives last November. This includes Nehul Malhotra, head of PostPe which is BharatPe’s ‘Buy Now Pay Later’ arm. The others were the CTO Vijay Aggarwal; Rajat Jain, the chief product officer; and Geetanshu Singla, VP of technology. They moved on to pursue their own entrepreneurial passions, the company had then said in a statement. Zomato rocked by multiple top level exits, too Sameer’s resignation comes hours after Gunjan Patidar, Zomato’s co-founder and chief technology officer, tendered his resignation. Patidar was one of the first few employees of Zomato who built the core tech systems of the company. “Over the last ten plus years, he (Patidar) also nurtured a stellar tech leadership team that is capable of taking on the mantle of leading the tech function going forward. His contribution to building Zomato has been invaluable,” said the company. Patidar’s exit is the third high-level exit at the food delivery giant in two months. In November last year, another one of Zomato’s co-founders Mohit Gupta tendered his resignation. Its head of new initiatives Rahul Ganjoo; and Siddharth Jhawar, vice-president of global growth also quit in the same month. The list goes on as in September 2022, Zomato’s deputy CFO Nitin Savara also tendered his resignation. The company has been bleeding money and it reported a consolidated loss of ₹251 crore in Q2 FY23. New age companies’ top heads move in and out of big tech companies There is a lot of churn among top executives of new-age tech companies as well as big techs. Online beauty retailer Nykaa’s CFO Arvind Agarwal, who had been with the company through its IPO, quit and joined fintech major PayU as its India CFO, this November. On the other hand, new-age companies have also been able to attract executives from major companies into their fold as well. Case in point is Sugar Cosmetics who brought in Amit Aggarwal, Marico’s head of finance of its India business, as its CFO. Adding to it, Amazon India’s director of grocery, food and health Sameer Khetarpal resigned and moved to Jubilant FoodWorks as CEO, a franchisee that runs Domino’s Pizza, Dunkin Donuts outlets in India. Meta India country head Ajit Mohan tendered his resignation in November 2022, to join rival Snap as the President of Asia Pacific. Following this, WhatsApp India’s head Abhijit Bose and Meta India’s public policy head Rajiv Aggarwal also resigned. The latter joined Samsung India. WhatsApp Pay’s director and head Manesh Mahatme also left his position in September to join Amazon India as director, product and engineering. Last but not the least, another shocking exit was of Parag Agarwal, former CEO of Twitter who was fired by Elon Musk in October, a year after he was appointed for the position. Soon after his ouster, Agrawal changed his LinkedIn bio to “Not the CEO you are looking for”. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/radiant-cash-management-shares-debut-at-a-10-premium-after-company-reduces-ipo-size/articleshow/96727374.cms">Radiant Cash Management shares debut at a 10% premium after company reduces IPO size</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/shark-tank-indias-season-2s-sharks-meet-the-serial-investors-cas-and-iit-and-iim-alumni/articleshow/96714262.cms">Shark Tank India’s Season 2’s sharks: Meet the serial investors, CAs, and IIT and IIM alumni</a>

Zomato, BharatPe, Nykaa and more: the revolving door for top execs at new age companies

Former <keyword id="12987696" type="General" weightage="20" keywordseo="bharatpe-co-founder" source="Orion">BharatPe Co-founder</keyword> and managing director <keyword id="2988161" type="General" weightage="50" keywordseo="ashneer-grover" source="Orion">Ashneer Grover</keyword> said on Tuesday that <keyword id="830092" type="General" weightage="100" keywordseo="zomato" source="Orion">Zomato</keyword> should have acquired its arch rival <keyword id="6358977" type="General" weightage="80" keywordseo="swiggy" source="Orion">Swiggy</keyword> than 10-minute grocery platform <keyword id="12724311" type="General" weightage="50" keywordseo="blinkit" source="Orion">Blinkit</keyword> to avoid the mayhem it is experiencing on Dalal Street. Zomato's share price tanked over 11 per cent on Monday and more than 7 per cent to hit an all-time low of Rs 43.05 on Tuesday. According to <keyword id="3433" type="General" weightage="50" keywordseo="grover" source="Orion">Grover</keyword>, merging Swiggy would have seen Deepinder Goyal-led Zomato to reach Rs 450 a share. "On the stock market - letsblinkit served piping hot misery to zomato in 10 minutes! Yeh hi agar Swiggy ko merge kar liya hota to Rs 450 ka stock hota!" (<keyword id="14560447" type="General" weightage="50" keywordseo="had-zomato" source="Orion">Had Zomato</keyword> merged with Swiggy, its stock price would have been Rs 450) tweeted Grover. Zomato acquired Blinkit for about $568 million, saying quick commerce is a natural extension of its food delivery business. The shares of the food delivery platform touched a new low of Rs 43.05 on Tuesday, wiping out more than Rs 89,000 crore. In May, Grover had said that buying Zomato shares, even when it had been falling for months, wouldn't be a bad idea. "It's all about perspective. If you were a Zomato employee and exercised your ESOP (employee stock ownership) at Rs 140 or higher post IPO, you probably paid more cost per share as Income Tax, than what you can buy today from the market freely. At Rs 56 per share price, markets are giving everyone ESOPs," he had tweeted. Grover, along with his wife <keyword id="13057738" type="General" weightage="50" keywordseo="madhuri-jain-grover" source="Orion">Madhuri Jain Grover</keyword>, has incorporated a new company called 'Third Unicorn Private Limited' that has both husband and wife as directors, according to the data available on Tofler. Third Unicorn has an authorised share capital of Rs 20 lakh and a total paid-up capital of Rs 10 lakh. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/dgca-gives-clean-chit-to-spicejet-says-no-safety-violation-found/articleshow/93133139.cms">DGCA gives clean chit to SpiceJet, says no safety violation found</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/star-javelin-thrower-neeraj-chopra-ruled-out-of-commonwealth-games-due-to-groin-injury-ld/articleshow/93133172.cms">Star javelin thrower Neeraj Chopra ruled out of Commonwealth Games due to groin injury (Ld)</a>

Ashneer Grover blames Zomato's Blinkit acquisition for its share price fall

<ul><li><keyword id="2988161" type="General" weightage="20" keywordseo="ashneer-grover" source="Orion">Ashneer Grover</keyword> has resigned from his position as the managing director of <keyword id="7349800" type="General" weightage="20" keywordseo="Bharatpe" source="Orion">BharatPe</keyword>.</li><li>He was the CEO of the merchant payments platform until last year and was replaced by Suhail Sameer.</li><li>Grover accused BharatPe’s core team of leveraging on his personal network to scale up their payments business.</li></ul>Ashneer Grover, the cofounder and managing director of BharatPe, has resigned from his position at the merchant payments platform. The development comes a week after his wife, <a href="https://www.businessinsider.in/business/startups/news/bharatpe-fires-ashneer-grovers-wife-madhuri-jain-and-she-takes-to-twitter-to-make-a-new-set-of-allegations-against-the-company/articleshow/89767491.cms">Madhuri Jain, was terminated</a> on allegations of misappropriation of funds. Grover, in the resignation letter dated March 1, accused the BharatPe’s core team of leveraging on his personal network to scale up their payments business and later treating him in a “the most disgraceful manner”. “Am I perfect? As every other human being does, I am sure I have my follies. I have been told that I am too straight forward [sic], headstrong, and have very demanding standards when it comes [to] work. But it is these qualities that have resulted in BharatPe’s exponential growth in becoming an industry behemoth,” the letter read. Here is the full text of Grover’s letter: Dear Board, I write this with a heavy heart as today I am being forced to bid adieu to a company of which I am a founder. I say with my head held high that today this company stands as a leader in the fintech world. Since the beginning of 2022, unfortunately, I’ve been embroiled in baseless and targeted attacks on me and my family by a few individuals who are ready not only to harm me and my reputation but also harm the reputation of the company, which ostensibly they are trying to protect. From being celebrated as the face of Indian entrepreneurship and an inspiration to the Indian youth to build their own businesses, I am nowwasting myself fighting a long, lonely battle against my own investors and management. Unfortunately, in this battle, the management has lost of what [sic] is actually at stake – BharatPe. People who know me and have worked closely with me know that I believe in building - whatever the odds may be. I am an IIT Delhi – IIM Ahmedabad graduate, the best of what Indian [sic] education system has to offer. I am the child of middle-class parents who’ve imbibed in me the values of hard work, integrity and honesty. I am a professional with an impeccable track record who has been instrumental in building two unicorn businesses, i.e. Grofers and BharatPe from scratch. I have not only encouraged the youth of this country to follow their dreams but have also created an arena of job opportunities for tens of thousands of India’s gig-economy workers. I am proud that my journey and growth has not only been limited to me but has also encompassed within its fold people associated with me, professionally and personally. In my endeavor to promote and grow the start-up ecosystem in our country, I have invested back what I have earned and have helped many along the way. I have nurtured BharatPe as my baby. I’ve built it along with my co-founder and an amazing team of individuals. Most times the circumstances were hostile (to say the least) but it did not stop me. BharatPe was the last entrant in UPI space and competed with goliaths like PayTM, PhonePe and GooglePay – but it still emerged as a leader in the industry. I had the vision to disrupt payments with ‘0% MDR’, lending with shopkeeper ‘loans against payments’, P2P with ‘12%Club’ and BNPL with ‘postpe’. With my efforts and hard work, the Company has created a network of more than 1 Crore (10M) shopkeepers who transact more than Rs 100,000 Crores (US$ 16B) annually and lent out more than Rs 4,000 crores (US$ 0.5B) as loans. It is indisputable that BharatPe loans have helped lakhs of small businesses fight organised e-commerce and COVID. Most importantly and the only time for any Fintech in India – with my constant efforts the Company has acquired a Small Finance Bank license to create ‘Unity Small Finance Bank’. I’ve shown the gumption and intent to find a solution for PMC Bank and Ten Lakh of its depositors to give them back their hard-earned funds. The height at which BharatPe stands today is the result of the hard work of the last four years. With a team of less than Five hundred on-roll employees, an aggregate spending of less than US$ 150 Mn, and by raising US$ 615 Mn from ten of the marquee investors without using a single banker, the success story of BharatPe is for everyone to see. While scripting the commercial success of BharatPe, the Company was also affording liquidity to our employees of more than Rs 100 crores against their ESOPs and giving at least Eighty times returns to each of its twenty-eight angel investors. While the Company was valued at Rs 20,000 crores (US$ 3B) as per the Series E round; today it would be valued at Rs 40,000 crores (US$ 6B), within a span of less than a year. No other startup of similar valuation has been able to achieve what BharatPe has achieved today that too by utilizing less than Rs 1,000 crores. Clearly, BharatPe’s success story is for the world to see. Am I perfect? As every other human being does, I am sure I have my follies. I have been told that I am too straight forward, headstrong, and have very demanding standards when it comes [to] work. But it is these qualities that have resulted in BharatPe’s exponential growth in becoming an industry behemoth. Unfortunately, what has happened in the recent past seems to be a battle of egos being played to the gallery of the media under the charade of “good governance”. The fundamental fact is that all of you as investors are so far removed from reality that you’ve forgotten what real businesses look like and have no appreciation for what it took to run this enterprise day in and day out. Your outlook towards BharatPe has been limited to the small window on your Zoom Meetings application, far removed from the sweat of the brow that goes into making BharatPe the business leader that it is. None of you, including the ones based in India, have ever been to our office even once, since the andemic turned our lives upside down and sought to suffocate the economy. Not even once. Not Micky. Not Harshjit. Not Mohit. Not Teru San. Not Rahul. Not Deven. No one. None of you even turned-up despite an invitation for the inauguration of our new office. This is how connected you are to BharatPe. Your views of businesses and problems on the ground are so colored by the windows of the Ivory Tower in which you all reside that you have no connect whatsoever with the human element of the business. It is sad that you have even lost touch with the Founder. You’ve lost touch with me. For you, the Founder of this company has been reduced to a button to be pressed when needed. I cease to be a human for you. Today,you have chosen to believe gossip and rumours about me instead of having a frank conversation. You are so easily spooked because you have no touch with reality. The fact of the matter is that today you believe that I have served my utility and so incrementally I am just becoming a liability. And since then, the fact of the matter is that today you believe that I have served my utility and so incrementally I am just becoming a liability. And since the investor template to make an unwanted Founder go away is to make them the villain of the piece, that’s what you have gone ahead and done – “Let’s invoke the SHA. Let’s put him on leave under the pretext of a governance review. Let’s terminate his wife’s employment. Let’s vilify his whole clan. We as investors are on top of the food chain – let’s cut him down to size and make an example of him.” When you wanted to leverage my personal network, you were very happy to do so – today I am being vilified and treated in the most disgraceful manner. You treat us Founders as slaves – pushing us to build multi-billion-dollar businesses and cutting us down at will. Investor-Founder relation in India is one of Master-Slave. I am the rebel slave who must be hung by the tree so none of the other slaves can dare to be like me ever again. Unfortunately, I refuse to walk that path and refuse to tolerate this continuous and shameful vilification of me and my family. I have been the one who founded this company and built it up to its enviable position today, no wonder you want to oust me for your vested interests. So when do we end this? We end this now. While I maintain that you will not find a single act of impropriety against me, I will not be participating in your charade. Since you clearly believe you can run this Company better without me – I am leaving you with this challenge. Build incrementally even half of the value I created so far – I am leaving you with three times the funds I’ve utilised till date. I hereby resign as the Managing Director of BharatPe, effective immediately. I also resign as a Director of the Board. I will continue as the single largest individual shareholder of the Company. I have founded and built BharatPe into what it is today, and this identity, none of you can take away from me. Best regards, Ashneer Grover The resignation letter was<a target="_blank" class="c-link" href="https://www.moneycontrol.com/news/business/companies/read-the-full-text-of-ashneer-grovers-resignation-letter-8176891.html"> first </a>made public by Network 18. Business Insider has accessed and verified the same. Grover was the chief executive officer (CEO) of the merchant payments platform until last year and was replaced by Suhail Sameer, who was group president in the company. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/startups/news/swiggy-dunzo-zepto-and-grofers-should-roll-back-10-minute-delivery-says-petition/articleshow/89900739.cms">A netizen is seeking roll back of the 10 minute delivery feature on Swiggy, Dunzo, Zepto and Grofers</a> <a href="https://www.businessinsider.in/stock-market/news/as-long-as-mukesh-ambani-is-there-to-rescue-the-market-doesnt-care-about-future-retails-financial-stress/articleshow/89886569.cms">As long as Mukesh Ambani is there to rescue, the market doesn't care about Future Retail's financial stress</a> <a href="https://www.businessinsider.in/india/news/indian-economy-grows-by-5-4-in-oct-dec-lower-than-8-5-in-the-previous-quarter/articleshow/89898660.cms">Indian economy's growth slows down to 5.4% between October to December</a>

Ashneer Grover resigns from BharatPe. This is what he had to say.

<ul><li><keyword id="7349800" type="General" weightage="20" keywordseo="bharatpe" source="Orion">BharatPe</keyword> has launched gold loans for their merchants partners, marking its entry into the secured loans category.</li><li>The company has partnered with RBI-approved NBFCs to offer gold loans up to ₹20 lakhs.</li><li>The loan application process is fully digital and the loan is disbursed within 30 minutes of completion of the assessment process.</li></ul>Merchants payments platform BharatPe has launched gold loans for their merchants partners, marking their entering in the secured loans category. The company was earlier working in the unsecured loans category by offering collateral free loans. The company, led by chief executive officer (CEO) <keyword id="4534514" type="General" weightage="20" keywordseo="suhail-sameer" source="Orion">Suhail Sameer</keyword>, has partnered with Reserve Bank of India (RBI)-approved non banking financial companies (NBFC) to offer gold loans up to ₹20 lakhs. The company has already launched the <keyword id="130134" type="General" weightage="20" keywordseo="gold-loan" source="Orion">gold loan</keyword> offering in Delhi NCR, Bengaluru and Hyderabad. It will now be looking to scale the products to 20 cities by the end of 2022. The company plans to facilitate disbursals of ₹500 crore by the end of 2022, at an interest rate of 0.39% per month. The loan application process is fully digital and the loan is disbursed within 30 minutes of completion of the assessment process, BharatPe said in a statement. The company also emphasised that the merchants can see the best offer for them and apply for the loan on their BharatPe app. The company is providing both doorstep and branch collection services in partnership with the NBFC. The merchants can take loans for a duration of six, nine and 12 months. They also have an option to repay the loan via Easy Daily Instalments (EDI), and the company will be launching equated monthly instalment (EMI) payment shortly. “Gold loans will enable us to further empower our merchant partners and positively impact millions of small businesses. We had conducted a pilot for the product for 2 months and the response has been very encouraging. We facilitated disbursals of ₹10 crores during the pilot phase,” Sameer said in a statement. BharatPe was founded by Shashvat Nakrani and Bhavik Koladiya in 2018. <keyword id="2988161" type="General" weightage="20" keywordseo="ashneer-grover" source="Orion">Ashneer Grover</keyword>, an angel investor in the company, came onboard as a cofounder. The company has facilitated unsecured loans, in partnership with NBFCs, worth ₹3,000 crores to three lakh merchant partners. The company competes with Patym, Aye Finance and LendingKart in the merchant lending space. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/paytm-hdfc-bank-lupin-among-stocks-to-watch-out-for-on-march-14/slidelist/90192747.cms">Paytm, HDFC Bank, Lupin among stocks to watch out for on March 14</a> <a href="https://www.businessinsider.in/business/startups/news/interview-you-will-be-able-to-own-bajaj-made-yulu-bikes-by-next-year/articleshow/90172838.cms" data-type="tilCustomLink">INTERVIEW: You will be able to own Bajaj-made Yulu bikes by next year</a> <a href="https://www.businessinsider.in/business/corporates/news/ebixcash-has-four-businesses-but-only-one-of-them-is-pulling-in-big-money-for-the-company/articleshow/90190010.cms" data-type="tilCustomLink">EbixCash has four businesses but only one of them is pulling in big money for the company</a>

BharatPe will now offer gold loans for merchant partners

<ul><li><keyword id="13281567" type="General" weightage="20" keywordseo="locofast" source="Orion">Locofast</keyword> has raised $15 million in a round co-led by Stellaris Venture Partners and Chiratae Ventures.</li><li>The company has also raised debt from strategic partners such as Stride Ventures and BlackSoil Capital.</li><li>Locofast wants to use this capital to expand to more than 15 cities in India, and launch new product categories as well.</li></ul>Business-to-business (B2B) textile marketplace Locofast has raised $15 million in a round co-led by Stellaris Venture Partners and Chiratae Ventures, with participation from Kris Gopalakrishnan’s fund Axilor Ventures, <keyword id="7349800" type="General" weightage="20" keywordseo="bharatpe" source="Orion">BharatPe</keyword>’s CEO Suhail Sameer, Park+’s CEO Amit Lakhotia and Uni’s Nitin Gupta. Alongside equity, the company has also raised debt from strategic partners such as Stride Ventures and BlackSoil Capital. The investment was a part of Series A round. Locofast was founded by serial entrepreneurs Deepak Wadhwa and Mohit Piplani, who previously founded a travel marketplace WeAreHolidays. The company wants to address the currently broken textile supply chain through a platform that connects vendors as well as suppliers. The company claims to have rapidly expanded to onboard over 500 suppliers, who have collectively executed over 5,000 orders pan India. The company claims to have touched a supply chain of over 700 brands, including Zara, H&amp;M, Primark and others. Locofast wants to use this capital to expand to more than 15 cities in India, and launch new product categories as well. It will also look to expand its workforce and invest heavily in building technology to help small and medium enterprises (SME) to scale their business. “Despite being a major contributor to India’s GDP [gross domestic product], the textile industry is fragmented and slow in terms of technological adoption. With our previous entrepreneurial experience coupled with technical expertise, on-ground study of the ecosystem and understanding of SME [small and medium enterprises] functioning, our mission is to enable a sophisticated tech-enabled platform for textile SMEs and empower them with market linkages from across the world,” Deepak Wadhwa, founder and chief executive (CEO) of Locofast, said. The company aims to be the largest textile marketplace in Southeast Asia. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/ashneer-grover-resigns-from-bharatpe-heres-what-he-wrote-in-his-resignation-letter/articleshow/89912762.cms" data-type="tilCustomLink">Ashneer Grover resigns from BharatPe. This is what he had to say.</a> <a class="tout-title-link" href="https://www.businessinsider.in/business/startups/news/swiggy-dunzo-zepto-and-grofers-should-roll-back-10-minute-delivery-says-petition/articleshow/89900739.cms">A netizen is seeking roll back of the 10 minute delivery feature on Swiggy, Dunzo, Zepto and Grofers</a> <a href="https://www.businessinsider.in/stock-market/news/as-long-as-mukesh-ambani-is-there-to-rescue-the-market-doesnt-care-about-future-retails-financial-stress/articleshow/89886569.cms">As long as Mukesh Ambani is there to rescue, the market doesn't care about Future Retail's financial stress</a>

BharatPe CEO, PayU's cofounder and others invest $15 million in an online textile marketplace

<ul><li>Nashik-based EV startup <keyword id="14083003" type="General" weightage="100" keywordseo="revamp-moto" source="Orion">Revamp Moto</keyword> received an investment of ₹1 crore from <keyword id="158171" type="General" weightage="20" keywordseo="aman-gupta" source="Orion">Aman Gupta</keyword> and <keyword id="127971" type="General" weightage="20" keywordseo="anupam-mittal" source="Orion">Anupam Mittal</keyword> in Shark Tank India.</li><li>Ashneer Grover also claims to have invested in Revamp Moto after the show.</li><li>The company recently launched the RM Buddie 25, which it claimed to be the country’s first <keyword id="15986770" type="General" weightage="20" keywordseo="transformable-ev" source="Orion">transformable EV</keyword>.</li></ul>Revamp Moto, a Nashik-based EV startup, became popular after getting an investment of ₹1 crore from boAt co-founder Aman Gupta and Shaadi.com founder Anupam Mittal during Season 1 of Shark Tank India. The electric vehicle market in India has become highly competitive, with brands like Ola, TVS, Ather, and others competing for market share. While many options are available if you are looking for electric scooters, the market does not offer much for hawkers, vendors, delivery executives, and other workers. <cmsannotation type="cmsannotation" annotationid="Revamp Moto – founders and product" comment="subhead" text="Revamp Moto – founders and product">Revamp Moto – founders and product</cmsannotation> Revamp Moto was founded by Jayesh Tope, Pushkaraj Salunke and Pritesh Mahajan. The trio showcased the Revamp Mitra, a modular EV that comes with ten attachments, at the show. During the show, the company also spoke about the RM 25, a prototype at that time. <cmsannotation type="cmsannotation" annotationid="Shark Tank deal" comment="subhead" text="Shark Tank deal">Shark Tank deal</cmsannotation> Revamp Moto appeared on Shark Tank seeking an investment of ₹1 crore for a 1% share at a valuation of ₹100 crore. After a close fight between BharatPE cofounder Ashneer Grover and the duo of Aman Gupta and Anupam Mittal, Revamp Moto accepted the offer from Gupta and Mittal. The duo invested ₹1 crore in the company for a 1.5% stake at a valuation of ₹66.67 crore. <cmsannotation type="cmsannotation" annotationid="Ashneer Grover invests in Revamp Moto" comment="subhead" text="Ashneer Grover invests in Revamp Moto">Ashneer Grover invests in Revamp Moto</cmsannotation> Despite losing the deal to Gupta and Mittal during Shark Tank, Grover invested in Revamp Moto after the show. During an interview with Raj Shamani, Grover revealed that he was approached by the founders of Revamp Moto for an investment. <cmsannotation type="cmsannotation" annotationid="Revamp Moto raises $1 million" comment="subhead" text="Revamp Moto raises $1 million">Revamp Moto raises $1 million</cmsannotation> Revamp Moto raised $1 million (approx. ₹8.3 crore) in a pre-seed funding round led by Veda VC and Venture Catalysts. The round also saw participation from angel investors such as Ashneer Grover, Peyush Bansal, Deven Bhandari, Aman Gupta, and Anupam Mittal. In addition, there have been reports that the company is planning on raising an additional $3 million to ramp up production. <cmsannotation type="cmsannotation" annotationid="RM Buddie 25 – first transformable EV in India" comment="subhead" text="RM Buddie 25 – first transformable EV in India">RM Buddie 25 – first transformable EV in India</cmsannotation> Revamp Moto finally launched the RM Buddie 25 in December 2022. To recall, the scooter was showcased as the prototype RM25 during Shark Tank India. <div type="image" title="RM Buddie 25" msid="96790904" hostid="261" sizebytes="30026" caption="&amp;lt;p&amp;gt;RM Buddie 25&amp;lt;/p&amp;gt;"></div> The RM Buddie 25 was launched with a price tag of ₹66,999 and was dubbed as “India’s first transformable EV” by the company. The company has started accepting bookings for the scooter for ₹999 and deliveries are expected to begin in April 2023. The company is manufacturing the scooter at its facility in Thane. During the Shark Tank pitch, the company claimed that 90 to 95% of the vehicle is made in India. <cmsannotation type="cmsannotation" annotationid="RM Buddie 25 attachments" comment="subhead" text="RM Buddie 25 attachments">RM Buddie 25 attachments</cmsannotation> The main highlight of the RM Buddie 25 is its attachments. The company is currently offering the following attachments – <ol><li>Base rack</li><li>Carrier</li><li>Child seat</li><li>Insulated box</li><li>Saddle stay and bag</li></ol><cmsannotation type="cmsannotation" annotationid="RM Buddie features" comment="subhead" text="RM Buddie features">RM Buddie features</cmsannotation> The RM Buddie 25 comes with a range of 70 km on a single charge and offers a top speed of 25 km per hour, which means the vehicle does not require any registration as per government guidelines. Similarly, the rider is not required to have a license. Revamp has claimed that the RM Buddie 25 can be fully charged in 2 hours and 45 minutes. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/ottobot-yeti-an-unmanned-delivery-robot-that-can-deliver-products-even-when-you-are-not-at-home/articleshow/96784804.cms">Ottobot Yeti, an unmanned delivery robot that can deliver products even when you are not at home</a> <a href="https://www.businessinsider.in/tech/news/after-iphone-14-android-phones-will-soon-support-satellite-messaging-starting-with-qualcomms-snapdragon-8-gen-2-chip/articleshow/96756368.cms">After iPhone 14, Android phones will soon support satellite messaging, starting with Qualcomm’s Snapdragon 8 Gen 2 chip</a> <a href="https://www.businessinsider.in/tech/mobile/news/the-oneplus-11-5g-may-be-cheaper-than-the-oneplus-10-pro-in-india-price-specs-and-india-launch-date/articleshow/96734971.cms">OnePlus 11 5G may be cheaper than the OnePlus 10 Pro in India – price, specs, and India launch date</a>

Shark Tank S1 winner Revamp Moto launches an EV that lets you add a child seat, freezer box and more

<ul><li>Charan joins a long list of celebrities like Shah Rukh Khan, <keyword id="6354486" type="General" weightage="20" keywordseo="virat-kohli" source="Orion">Virat Kohli</keyword>, Deepika Padukone, and <keyword id="5268" type="General" weightage="20" keywordseo="rahul-gandhi" source="Orion">Rahul Gandhi</keyword> who lost their ‘Blue ticks’. </li><li>Jr NTR or Tarak, SS Rajamouli – with over six million followers each, still have their blue ticks. </li><li>The Pope, Oprah Winfrey, and singer Beyonce lost their verifications, but Musk personally paid for three celebrities. </li></ul>Tesla cars might have danced to the beats of the Oscar-winning song Naatu Naatu, but the actor who thumped the ground to the beats on screen – Ram Charan of RRR has lost his validation from yet another <keyword id="6355315" type="General" weightage="20" keywordseo="elon-musk" source="Orion">Elon Musk</keyword> venture, Twitter. Charan, who has over three million followers on Twitter, joins a long list of celebrities like Shah Rukh Khan, Virat Kohli, Deepika Padukone and Rahul Gandhi to lose the coveted ‘Blue tick’ on their Twitter accounts. Many celebrities have refused to pay a fee that Musk had imposed to verify the accounts of celebrities. Blue ticks can differentiate the actual accounts of celebrities from the many fan-made and fake accounts made in their name. Rajamouli, Rana retain their blue ticks The other Naatu Naatu star, Jr NTR, or Tarak, the director of RRR, SS Rajamouli – with over six million followers each – still have their blue ticks indicating that they might have paid Musk’s fee. The star of Bahubali, Rana Daggubati, has a blue tick, and Prabhas is not on Twitter. The others who did not bother are — KGF fame Yash and Pusha actor Allu Arjun have also lost their blue ticks along with South heavyweight Rajnikanth. Even superstar Chiranjeevi, Charan's father and Arjun's uncle, who joined Twitter during the pandemic, lost his blue tick status. So did his Tamil counterpart Kamal Hassan who came back with a bang to silver screens with the recent superhit Vikram late last year. South heroines like Samantha Ruth Prabhu, with over 10 million followers, and Nayantara, with over 20,000 followers too lost their blue ticks. Many top cricketers like M S Dhoni and Rohit Sharma also did not bother to pay the price to retain their ticks, and neither did Twitteractive pulp fiction writer, Chetan Bhagat. There are only three exceptions Many international celebrities lost their blue ticks, including the Pope, celebrity TV host Oprah Winfrey, and singer Beyonce. Rihanna and Taylor Swift still have blue ticks, but their payment status is not verified. actress Halle Berry, however, tweeted, "Me joining you all tomorrow unverified," indicating she will not pay for the Blue badge. Jack Dorsey, the co-founder of Twitter, also lost his blue tick. But looks like even Musk defers to the celebrity might of a few titans, including the King of Horror, Stephen King. Incidentally, King has been criticizing the verification payment and insisted that “It’s a matter of principle.” The other two celebrities that Musk is personally paying for are Captain Kirk of Star Trek, William Statner and basketball legend, LeBron James. (With inputs from IANS, Neha Das and Ananya Tawakley) SEE ALSO <a href="https://www.businessinsider.in/business/news/ashneer-grover-wades-into-controversy-around-10-minute-delivery/articleshow/99578962.cms">The Big Fight: Ashneer Grover wades into controversy around 10-minute delivery</a> <a href="https://www.businessinsider.in/business/news/not-the-time-for-job-hopping-most-indians-plan-to-stay-put-this-year-indeed/articleshow/99556646.cms">Not the time for job hopping, most Indians plan to stay put this year: Indeed</a>

RRR star Ram Charan & other Indian celebs who lost the Twitter blue tick

Here is a list of bank holidays in March 2022

<ul><li><keyword id="11924074" type="General" weightage="20" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> S2 judges appeared on a <keyword id="1590914" type="General" weightage="20" keywordseo="Podcast" source="Orion">podcast</keyword> hosted by comedians Tanmay Bhatt and Rohan Joshi. </li><li>The sharks talked about how the pitches changed in S2, and how contestants were better prepared to answer their questions. </li><li>Vineeta Singh also mimicked her fellow judges and recited their catchphrases. </li></ul>The sharks of <keyword id="1417364" type="General" weightage="80" keywordseo="shark-tank" source="Orion">Shark Tank</keyword> India S2 appeared on the podcast <a href="https://www.youtube.com/watch?v=aXRchlAv51M&amp;ab_channel=HonestlybyTanmayBhat">Honestly by Tanmay</a> last week, hosted by comedians Tanmay Bhat and Rohan Joshi. During the 30-minute podcast, all five sharks poked fun at each other and shared interesting anecdotes about season 2 — like who’s the most emotional investor amongst them and how pitches have changed from Season 1. “In Season 2, the toxicity is out, for good,” said <keyword id="544908" type="General" weightage="80" keywordseo="namita-thapar" source="Orion">Namita Thapar</keyword>, a shark. Season 2 features five of the seven sharks from Season 1 — Vineeta Singh, cofounder, Sugar Cosmetics; Namita Thapar, CFO, Emcure Pharmaceuticals; Anupam Mittal, founder, Shaadi.com; Aman Gupta, co-founder boAt, and Peyush Bansal, co-founder Lenskart. Amit Jain, co-founder CarDekho, joined the season for the first time, replacing two of the sharks from season 1 — Mamaearth co-founder Ghazal Alagh, and BharatPe co-founder Ashneer Grover. This season, comedian Rahul Dua replaced actor Rannvijay Singha as the host. <cmsannotation type="cmsannotation" annotationid="From winning over doubters to heightened popularity" comment="subhead2" text="From winning over doubters to heightened popularity">From winning over doubters to heightened popularity</cmsannotation> Initially, the ‘VC circle’ had looked down on the show, judging the sharks for participating in it. Doubts were also raised on the ability of this American show to capture the interest of the Indian audience. However, the massive success of Season 1 turned the skeptics around. “There was a lot of resistance (amongst VCs) initially. How can you take the Shark Tank of the USA and dramatize it for India? Once India embraced it, VCs would come and comment, ‘Oh we also got a call but we didn’t have time’. I’ve heard this so many times,” said Mittal. As per Singh and Thapar, Aman Gupta and Anupam Mittal have embraced their newfound fame with the most ease. They even lauded Gupta’s ‘social media game’. Gupta then said that he manages his social media accounts, himself. <cmsannotation type="cmsannotation" annotationid="Brands and their branding" comment="subhead2" text="Brands and their branding">Brands and their branding</cmsannotation> Thapar said that <a href="https://www.businessinsider.in/business/news/flatheads-shoes-founder-denies-shark-tank-offer-sells-his-entire-inventory-over-the-weekend/articleshow/96849132.cms">D2C brands benefitted</a> from the heightened popularity of their founders — but Gupta denied it. He stated that while the show helped increase brand awareness, Indian customers are far too intelligent to make buying decisions based on popularity alone. “I don’t think sales get impacted. The Indian consumer is very smart - they’ll buy after making their own decision. Yes, brand popularity soars across India. But does it impact sales? I don’t think so. The consumer will still see the product and its value proposition. They won’t buy it because it’s Aman’s product or Peyush’s product. I don’t think that happens in India,” shared Gupta. Bansal echoed Gupta’s statement, adding that it would be wrong to say that someone appears on Shark Tank India to build a personal brand. Jain also backed them stating if the product isn’t good, increased brand awareness won’t help sell it. However, both Vineeta Singh and Anupam Mittal believed that building a personal brand was crucial to selling a product, as the current generation of consumers values authenticity over anything else, and that shapes their brand loyalty. <cmsannotation type="cmsannotation" annotationid="Longer pitches but better prepared to answer judges’ questions" comment="subhead2" text="Longer pitches but better prepared to answer judges’ questions">Longer pitches but better prepared to answer judges’ questions</cmsannotation> In the 35-episode-long first season, <a href="https://www.business-standard.com/article/companies/business-bites-how-have-winners-of-shark-tank-india-1-fared-so-far-123010100470_1.html#:~:text=It%20was%20a%20reversal%20from,Rs%201%20crore%20or%20more.">report</a>s said that sharks collectively invested approximately ₹41 crore in 67 of the 198 pitches. The massive success of S1 impacted the quality of pitches in the second season. According to the judges, contestants pitching on Season 2 were more informed and far better prepared than their S1 counterparts, and ‘solid stories and entrepreneurs’ from across India appeared this time. “Startups (pitching on the season) with ₹30-₹50 crore revenue, ₹10 crore profits from bootstrapped companies,- families of 2-3 guys doing it. We were shocked, blown out of our brains - from small towns in India, from God knows where,” added Mittal. The average time for a pitch extended to 1.5 hours in S2, as compared to 53 minutes in S1 as the contestants were already prepared with the answers to commonly asked questions and used phrases and words most likely to impress the judges. “They had learned (how to pitch). The answers to our questions were already in their pitches. Many times we had no questions because they’d already shared the information we needed to hear, in the pitch itself,” said Gupta. <cmsannotation type="cmsannotation" annotationid="The funding winter investors" comment="subhead2" text="The funding winter investors">The funding winter investors</cmsannotation> Though detailed, the long-winded pitches often left judges Namita Thapar and Aman Gupta bored, who resorted to playing games like cross and knots and passing chits of paper to while away time — especially when the other panelists questioned the contestants. As the group shared on the podcast, Bansal had the most number of questions to ask, while Mittal had the most ‘gyan’ (wisdom or knowledge) to offer. Making a subtle comment on the ongoing funding winter, Bansal and Mittal even added that Shark Tank was the only place where investments were still taking place. “We’ve made so many investments in this (funding) winter. This is why people will see the show, I believe. Because no one’s investing in the market. So here, the element of hope is very high,” commented Bansal. As of Friday, January 6, 2023, 11 of the 15 pitches from the show have received funding from the sharks. The four pitches that have not received funding are Recode Studios, Atmosphere (Kombucha), Flatheads Shoes and Organic Smokes. <cmsannotation type="cmsannotation" annotationid="‘Will you invest in Elon Musk?’" comment="subhead2" text="‘Will you invest in Elon Musk?’">‘Will you invest in Elon Musk?’</cmsannotation> By the end of the podcast, the judges played a round of ‘who’s most likely to’. Amit Jain was named as the judge most likely to make an investment due to an emotional story. Thapar’s the shark who’s the quickest to cut a cheque, while Mittal is the most cautious investor. Gupta is the one most likely to misspell the word entrepreneur, and Jain emerged as the one most likely to win at poker. The hosts also asked all the judges if they’d invest in tech magnate Elon Musk, considering the way he’s handled the microblogging platform Twitter after taking over as its CEO. Bansal said that people’s memory is extremely short-lived and if Twitter’s profitable after two years, Musk’s current shenanigans will easily be forgotten. Jain further added that considering Musk’s ‘credible success rate’, he’d definitely invest in Twitter under Musk. Mittal, though, shared that “given all the things going in the world, we need unifying voices. And the point Elon Musk is at right now, we can do with less of that.” Shark Vineeta Singh also mimicked all the judges and recited their catchphrases from the show. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indias-credit-worthiness-to-be-stable-in-2023-but-upcoming-elections-could-keep-social-spending-elevated-moodys/articleshow/96851926.cms">India’s credit worthiness to be stable in 2023, but upcoming elections could keep social spending elevated: Moody’s</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/mercedes-honda-bmw-and-others-showcase-some-exciting-car-tech-at-the-ces-2023-these-are-our-favorites/articleshow/96851293.cms">Mercedes, Honda, BMW and others showcase some exciting car tech at the CES 2023 — these are our favorites</a>

You Searched For "ashneer grover 10 minute delivery" and got 12 results

The Big Fight: Ashneer Grover wades into controversy around 10-minute delivery

Katya Naidu

I made ₹2.25 crore within 8 minutes of Zomato IPO opening: Ashneer Grover

IANS

Former BharatPe founder Ashneer Grover pens memoir called 'Doglapan'

IANS

Zomato, BharatPe, Nykaa and more: the revolving door for top execs at new age companies

Bhakti

Rounak

Ashneer Grover blames Zomato's Blinkit acquisition for its share price fall

IANS

Ashneer Grover resigns from BharatPe. This is what he had to say.

Kritti Bhalla

BharatPe will now offer gold loans for merchant partners

Kritti Bhalla

BharatPe CEO, PayU's cofounder and others invest $15 million in an online textile marketplace

Kritti Bhalla

Shark Tank S1 winner Revamp Moto launches an EV that lets you add a child seat, freezer box and more

Sourabh Jain

RRR star Ram Charan & other Indian celebs who lost the Twitter blue tick

Katya Naidu

Here is a list of bank holidays in March 2022

BI India Bureau

In Season 2 of Shark Tank India, the toxicity is out for good says Namita Thapar

Srishti Magan