Putting the Freshworks IPO in Context (Part 4)

Global Impact

The other thing to note is the globalization of entrepreneurship aspect of the Freshworks story.

Girish has proved “Made in Chennai” is possible. Unlike other Indian CEOs running SaaS companies, he never shifted the center of gravity of Freshworks away from Chennai.

In 1997, I tried to build a product company from Kolkata in the India-Silicon Valley mode. I had a product and paying customers by the time I went out to raise venture capital in Silicon Valley. Forty-seven VCs turned me down because developing the product in India was too risky. Finally, NEA said YES. But it was at a cost. I had to give up the CEO job to “an older, more experienced CEO.” This guy was a bozo. He fired me and drove the company to the ground.

I never lost the passion for moving the Indian startup ecosystem away from body shopping and towards an intellectually exciting path, working relentlessly on that agenda for the last 25 years.

Today, no one questions the fact that startups can be built from anywhere in the world. India’s stature has improved tremendously.

In fact, in 1Mby1M, we now see companies coming from Africa, a startup ecosystem that is currently where India was fifteen years back.

The continent needs its first Girish Mathrubootham.

And thereafter, each African country needs one of its own.

Colombia needs one. Indonesia needs one. Cambodia needs one.

What I have Learnt

I remain focused on the 1Mby1M mission of helping a million entrepreneurs globally build a million dollars in annual revenue and beyond.

Notice, I didn’t say that we’re trying to fund a million companies. That would be impossible. Over 99% of the startups out there are not venture fundable.

I have explored and continue to explore every possible democratization route to propagate and disseminate knowledge.

My core belief remains Entrepreneurship = Customers + Revenues + Profits. Financing is Optional. Exit is Optional.

Education is the ultimate tool for Development Economics, not financing. 

Inspiration is all very well, but where the rubber meets the road, you need education to succeed.

A catchphrase that has taken hold on which I am quoted often: Do NOT go to VCs as Beggars. Go as Kings. Bootstrap First, Raise Money later. 

This summer, we started releasing the 1Mby1M methodology in short, affordable Udemy courses as a further attempt to democratize access to startup knowledge. [Udemy Courses Based on 1Mby1M Methodology] 

Today, the scale of the global startup ecosystem is about 30 million people. By 2030, it would grow beyond 50 million.

An entrepreneur from Madagascar wrote to me last week about a Digital Health startup she’s working on. She’s doing my Udemy course on How to Build Digital Health Startups.

We’re succeeding in executing on our mission, but it will take a lot longer.

I never expected this journey to be easy. 

For now, I simply want to raise a glass to Girish Mathrubootham and hope he can inspire many others by categorically embracing the celebrity that destiny has thrust upon him.

Congratulations, Girish!

Photo Credit: CNBC TV18

This segment is part 4 in the series : Putting the Freshworks IPO in Context
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