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In 2020, I hosted a fire side chat with Mukesh Bansal, Co-Founder, Myntra and CureFit about brief history of Myntra, CureFit and his insights from building an iconic indian startup as part of The Red Bricks Summit by IIM Ahmedabad.
Mukesh is a technology entrepreneur with almost two decades of experience working with high tech consumer internet companies. After B.Tech in Computer Science from IIT Kanpur and working across engineering, product management, and leadership roles for four different early-stage tech startups in the Bay Area, he founded Myntra in 2007 which became India's largest online fashion retailer.
Mukesh co-founded Cure.fit in April 2016. Since then, the company has raised a total of $400 million of funding and acquired Cult, 1000Yoga, and Fitness First. Bansal, through Cure.fit, has been instrumental in changing the landscape of India's health and fitness industry.
You can check out the live recording of our conversation below.
The debut of Lightcone Podcast, a podcast series by Y Combinator.
Kicking off with "The Truth About Building AI Startups Today," this series brings you up close with the thoughts and insights of YC's own Gary, Jared Harge, and Diana.
Kicking off with "The Truth About Building AI Startups Today," this series brings you up close with the thoughts and insights of YC's own Gary, Jared Harge, and Diana.
In the first episode of the Lightcone Podcast, YC Group Partners dig into everything they have learned working with the top founders building AI startups today. They share the ideas that are working particularly well, mistakes to avoid, and take a look at the competitive landscape among the current AI giants.
Whether you're just curious about AI or deep into planning your next big venture, this is something you won't want to miss.
Notes from Startup Exits and M&A Forum
It’s important for both the companies - the company being acquired and the acquirer - to evaluate not just products, services and financials but also whether there is culture fit between the leadership and the team at large.
Due Diligence can bring to light compliance issues as well some times and it is ok. As long as it does not show gross negligence or mis-representation in data, Due Diligence typically goes through.
Diligence at the time of acquisition and diligence at the time of fund-raising are quite different. At the time of acquisition, it is much more focused on team, technology, GTM channels and financials while diligence at the time of fund raising is mostly legal and financial with some attention to other aspects.
It’s difficult for startups to plan for an exit. The plan should be created to become valuable for customers - everything else typically follows.
It’s important for both the companies - the company being acquired and the acquirer - to evaluate not just products, services and financials but also whether there is culture fit between the leadership and the team at large.
Due Diligence can bring to light compliance issues as well some times and it is ok. As long as it does not show gross negligence or mis-representation in data, Due Diligence typically goes through.
Diligence at the time of acquisition and diligence at the time of fund-raising are quite different. At the time of acquisition, it is much more focused on team, technology, GTM channels and financials while diligence at the time of fund raising is mostly legal and financial with some attention to other aspects.
It’s difficult for startups to plan for an exit. The plan should be created to become valuable for customers - everything else typically follows.
Things to keep in mind during fundraising for early stage founders.
There are no permanent ‘No’s. When an investor passed on your deal, ask for permission to keep them updated every quarter and then enrol them into a list to which you send out a quarterly update across your product, team and growth. You never know when interest in your startup might peak.
Fundraising is a full-time activity for 1 founder. Pitch to as many people as you can. Pitch, Ask for feedback, improve, repeat.
At early stages, valuation is more of an art than a science. Ultimately, when you are at the negotiating table - everything falls back to how desperate you are to raise and how convinced they are to invest in you.
There are no permanent ‘No’s. When an investor passed on your deal, ask for permission to keep them updated every quarter and then enrol them into a list to which you send out a quarterly update across your product, team and growth. You never know when interest in your startup might peak.
Fundraising is a full-time activity for 1 founder. Pitch to as many people as you can. Pitch, Ask for feedback, improve, repeat.
At early stages, valuation is more of an art than a science. Ultimately, when you are at the negotiating table - everything falls back to how desperate you are to raise and how convinced they are to invest in you.
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Preferred eChai Partner Brands
The preferred eChai Partner Brands program offers businesses increased visibility within the eChai Network.
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About preferred eChai Partner Brands program:
The preferred eChai Partner Brands program offers businesses increased visibility within the eChai Network.
- Prominent Listing: Feature on the Preferred eChai Partner Brands page for a full year.
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- Feature Spotlight: Feature on eChai.Ventures feed, highlighting the brand's story, achievements, and offerings to a founders community.
Connect with Jatin Chaudhary, Co-Founder of eChai Ventures, to learn more about how brands are leveraging this program. Reach out via WhatsApp or via email [email protected].