Recently in an interview, Shark Tank India judge Anupam Mittal shared how “started wearing glasses and jacket” so that he could be taken seriously by people. The Shaadi.com founder was asked about his biggest challenge when he founded the online marriage platform.

Mittal claimed that although there were many challenges in his way when he founded Shaadi.com, one of the biggest challenges for him was people not taking him seriously.

“… one of the big challenges in hindsight was to make people take me seriously – from friends to relatives, venture capitalists and particularly potential employees, because I needed to hire to build a team. I started wearing glasses and a jacket to look a little older and more serious,” the Shark Tank India judge said in his exclusive interview to Money Control.

The investor and techpreneur was also asked about his perspective about the recent layoffs and shutdowns in the world of Indian startup. To this, he said that many valuations of startups were not just justified.

Mittal went as far as noting that 80% of companies that got funding did not deserve funding. Calling the last two years of startup funding cycle “FOMO entrepreneurship”, Mittal said, “A lot of people who didn’t have a good idea or solid business plan went out and became entrepreneurs.”

The Facts of the Matter

During the first season of Indian reality show Shark Tank India, Anupam Mittal became a household name for many fans of the show. The Shaadi.com founder became famous for being a judge who gave valuable feedback to entrepreneurs with sincerity and kindness. Recently, the People Group co-founder was interviewed by Moneycontrol where he gave various valuable insights.

However, the most fascinating insight came in the form of an admission where the investor said that he found it hard to be taken seriously when he started Shaadi.com.


Also Read: “Sales Soared From 3x to 5x”: Shark Tank India’s Anupam Mittal on Companies he has Invested In


“Started wearing glasses and jacket”

“..one of the big challenges in hindsight was to make people take me seriously – from friends to relatives, venture capitalists and particularly potential employees, because I needed to hire to build a team. I started wearing glasses and a jacket to look a little older and more serious,” Mittal said, when asked about his biggest challenge starting Shaadi.com.

Started Looking for People With Passion

Mittal also noted that had he listened to naysayers back then, it would have not led to him being what he is today. He added that due to the lack of talent pool, he stopped looking for people with skills and started hiring people with passion.


Also Read: Anupam Mittal Reacts to Ashish Chanchlani’s ‘Sasta Shark Tank’ – “Ignore, use bhi apna ghar chalana hai”


On Recent Startup Layoffs and Shutdown

The Shark Tank India judge was also asked about the recent layoffs and shutdown in the world startups. To this, Mittal said that this was “absolutely normal” and added that valuations in many such startups were not justified.

“80% of companies didn’t deserve funding”

Mittal added that 80% of the companies that received funding in India should not have receive funding. “A lot of people who didn’t have a good idea or solid business plan went out and became entrepreneurs. Those companies won’t succeed. As a result, you will see a lot of those people come back to the job market,” Mittal noted.


Also Read: Anupam Mittal ‘Ego Hurt’ on Shark Tank India: Is the Show Scripted?


Sales of Companies 3x-5x – Anupam Mittal

Earlier in May this year, Mittal had given his Shark Tank India fans a pleasant update, sharing that many of the companies he invested in at the show showed sales growth of 3x to 5x.

Sharing picture of his meeting with ECG makers Sunfox technologies, Mittal wrote – “An intense strategy session with @jai_rajat of #Sunfoxx the ECG device maker we funded on @sharktank.india. Since Nov, their sales are up 5X. In fact, many of the companies I have invested in have seen their sales soar from 3X to 25X in a few months. Do I just pick them right, is it the #sharktankindia magic or a bit of both? What do you think”.

 

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