Sanjeev Bikhchandani, the Founder of Info Edge, recently stated that Zomato could become India’s largest e-commerce company. Speaking to entrepreneurs and industry experts, he pointed out Zomato’s current valuation of around USD 30 billion. He believes Zomato has a strong chance of overtaking major competitors like Flipkart, especially as it expands into grocery delivery and other services. This move could help Zomato become a complete platform in a fast-changing market.
Startup Survival Challenges
During a panel discussion, experts shared the tough realities of the startup world. Research shows that less than 20% of startups survive beyond five years, and only 8% last a decade. Bikhchandani and Deep Kalra, the Founder of MakeMyTrip, highlighted the importance of resilience in facing these challenges. They repeatedly urged entrepreneurs to remember the phrase, “Don’t die,” emphasizing that survival is crucial in the competitive startup landscape.
The speakers shared personal stories of feeling discouraged when rivals succeeded. They encouraged aspiring entrepreneurs to be patient and committed to long-term goals. Kalra advised, “Stay alert to market changes and be ready to adapt.” This flexibility is key to thriving in the evolving business environment.
The discussion also focused on the rapid changes in the startup ecosystem since the early days. With over 800 million internet users in India, there are many opportunities for innovation. Bikhchandani mentioned, “Innovation is everywhere,” highlighting the potential in the current market.
Value of Honest Feedback
The panelists stressed the importance of honest feedback and collaboration for business success. Bikhchandani noted that having advisors who provide constructive criticism is essential. He said, “Balancing objectivity and intuition keeps you grounded.” Kalra agreed, encouraging entrepreneurs to surround themselves with people who challenge their ideas, rather than simply agreeing with them.
Personal Decision-Making Experiences
Bikhchandani shared a crucial moment in his career when he turned down a USD 2 million investment. He struggled with this decision for two days, ultimately realizing his company wasn’t ready for such a commitment. Kalra also reflected on tough times in his business, where he had to let go of team members and declined a USD 7.5 million buyout offer to continue their entrepreneurial journey.
As the discussion ended, the panelists inspired the audience with messages of hope. They highlighted the need for resilience, adaptability, and openness to feedback in the dynamic world of entrepreneurship. With Zomato’s ambitious plans and the growing e-commerce sector in India, the future looks bright for startups in the country.
