Sramana Mitra: This was actually fascinating because we do have a very large Indian following. It’s very interesting to hear about these trends. What’s new? What’s cutting edge? So I’d love to hear more about other interesting ideas in your portfolio.
Rahul Chowdhri: Shop101 is a social commerce application. In the last few years, Facebook, Instagram, Whatsapp, and now TikTok have become very popular social media platforms in India. While there is consumer usage, you also have a lot of micro-sellers on these platforms. These include individuals sitting at home or student traders who are using these platforms to sell items.
>>>During this week’s roundtable, we had as our guest Shripati Acharya, Managing Partner at Priven Advisors, advising Prime Venture Partners, a firm focused on core technology ventures in India. Unlike most VCs, Prime does concept-stage investments.
Oracle project
As for the entrepreneur pitches, up first we had Arun Philips from Bangalore, India, who is also an Oracle-sponsored 1Mby1M Premium member. He pitched a blockchain based impact assessment solution.
Sramana Mitra: Were you hiring these developers in South Carolina?
Rob Cheng: We used Monster.com. Back then, that was a way to hire people. So I would just look for the best people and for the skill. I would find them wherever I could. As it ends up, a couple of our developers ended up in South Carolina. But that was much more by luck than by design.
>>>Taylor Greene, Managing Director at Collaborative Fund, shares his firm’s investment thesis.
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Sramana Mitra: Give us a few examples of what you have invested in catering to that next 400 milion users.
Rahul Chowdhri: We invested in a company called VOGO. It is a scooter-sharing business like Lime or Bird. The problem that Lime solves in the US is very different from what VOGO is in India. VOGO is solving the problem of last-mile commute for people who take public transportation like bus, or tuktuk in India.
>>>Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Rahul Chowdhri was recorded in March 2019.
Rahul Chowdhri, Investor at Stellaris Venture Partners, shares some fascinating examples of consumer ventures catering to the next 400 million consumers in India.
>>>Sramana Mitra: So, just give some metrics of how it took off. What kind of numbers were you doing? How long did it take you to get to a million in revenue for example?
Rob Cheng: In the very beginning, we had no revenue model. Revenue was not important at that point in time. It’s much more about how many users you had and whether that was growing. Revenue didn’t matter at all. So we didn’t have any advertisers.
>>>Endiya Partners’ founding team – Managing Director Sateesh Andra, Managing Director Dr. Ramesh Byrapaneni and Director Abhishek Srivastava – talk about their Seed and Pre-Series A VC fund focused on India.
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