FWD Business takes a look at a few Indian entrepreneurs who sold their businesses to answer the one question that many have – What are they upto now?
Words: Vandana Devi Images: Various Sources
Entrepreneurs shed blood, sweat and tears to make their start-ups successful and many a times these businesses are acquired or merged with other more established businesses. They are left with their pockets full with billions and millions, not to mention free time on hand. So we wanted to look what some of such Indian entrepreneurs were doing with all that cash and energy.
Aparmeya Radhakrishna, an Angel for start-ups
Ola Cabs acquired TaxiForSure for $200 million and Aparmeya and co-founder Raghunandan G walked away with a 0.8% stake in Ola, which is worth an approximate of 120 crores.
He now spends his days meeting startups, trying to add value to them financially or through his experience. An Angel investor for present, he is enjoying his time taking it slow and spending time with friends and family.
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Phanindra Sama, on the redBus to Nizamabad
Naspers backed ibibo.com acquired redBus for an estimated $110 million. The acquisition of redBus has given Sama the space and resources needed to divert his attention to the social sector. He has managed to bring multiple organisations together to work for the development of Nizamabad, a small district in Northern Andhra Pradesh. Sama by being involved in such social entrepreneurship projects is becoming a role model for other entrepreneurs to support such causes.
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Kunal Shah, snaps a deal for the Greater good.
Snapdeal acquired FreeCharge at an estimated $400 to $450 million. The acquisition happened because of Shah’s interest in networking with other entrepreneurs. He continues working as CEO for FreeCharge which still functions as an independent entity but he said that on the day the deal was finalised he felt “bereft and emotional” knowing that although company had grown bigger, he wouldn’t have the same kind of freedom anymore. He still puts the same amount of work and hours as before the acquisition. His case is a model to look upto where the founder wants what’s best for the company and is willing to take the plunge for it and continues to work hard for its success.
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Sumit Jain, Vikas Malpani, Lalit Mangal, hands over their CommonFloor
Quikr Homes acquired CommonFloor in a $200 million all stock deal. CommonFloor continued working as an independent entity but within a year of the acquisition, the three founders have quit the company and are looking at transitioning out to pursue their other interests. They are satisfied with their business in the hands of Quikr Homes who is almost the leading and innovative online real estate player in the country. They are looking for new ventures and are ready to take on new challenges.
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Turakhia brothers, on not sitting around waiting for the next big idea
A consortium of Chinese investors acquired media.net for $900 million. They continue heading the business and putting their hard work into it. The brothers, now newly minted billionaires, are planning to invest the proceeds in other businesses such as Flock, Ringo, Zeta as they have no specific “short term plans”. They don’t believe in sitting around waiting for the next big idea, because they want to continue working on their big idea.
