
The words matchmaking and Shaadi.com go hand in hand in India. This platform made finding a potential partner a lot easier by adopting the internet. So, who is the man behind this path-breaking startup, you ask?
The only Anupam Mittal is a man with much entrepreneurial talent and a skilled investor from the Shark Tank with 200+ startups and 3+ unicorns. Global Startup Summit Season 3 by 21BY72 had the honor of having Anupam Mittal as one of our esteemed guests and listening to his story and the insights he shared with our attendees. We will discuss his story and the insights and lessons he shared in this blog!
Who is Anupam Mittal?
Anupam Mittal is a prominent Indian entrepreneur, angel investor, and television personality known for his pivotal role in shaping India’s startup
ecosystem. He is the founder and CEO of People Group, which created Shaadi.com, one of the world’s largest matrimonial platforms. With investments in over 200 startups, Mittal is a leading angel investor, fostering innovation in technology, finance, and e-commerce.
Anupam Mittal has been the judge in all three Shark Tank India seasons. Shark Tank India has been the catalyst for democratizing the startup ecosystem in India by offering a stage for every entrepreneur to present their startup and raise funding. Whether you are a graduate of IIT or a tier 3 entrepreneur who dropped out of school, as long as you have an innovative idea and passion, you will have a voice on the stage and be heard by sharks like Anupam Mittal in Shark Tank.
Entrepreneurial Journey of Anupam Mittal
Anupam Mittal comes from a humble family, and his father worked in the textile industry. Business ethics were taught to him at a young age. Over time, his father’s textile business grew in Bombay. As he says in his fireside chat at the 21BY72, “Baniya hoon to khoon mein dhandha hai,” it’s unsurprising that the teenage Anupam started doing small business in his teenage years. He tried his hand at various business ideas, such as selling books, starting a sports club, and exporting textile products. While the profits might not have been high, his hopes and entrepreneurial spirits were higher.
He worked with his father in their family business and later moved to Germany to expand the business. However, after failing, he came back and moved to the US. After some failed attempts, he continued his education and enrolled for an MBA in Operations and Strategic Management at Boston College. After completing his degree, he joined a tech company and later started developing his startups, and his entrepreneurial journey began.
He founded various companies under the umbrella of People Group. One of these startups failed, and he lost all his finances. However, he had also
developed Shaadi.com, which became a massive hit by then. He returned to India and took the regime in his hand to make Shaadi.com reach the heights of success. However, startup challenges are bound to come in the way of success. In early 2008, Shaadi.com was all set to raise $25 Million by expanding their business. However, the Global Financial Crisis happened, and the funding got canceled, leading to significant losses and the firing of staff. The next five years were full of struggle, but his resilience and sharp mind revived the business and succeeded.
Anupam Mittal’s Entrepreneur Mantras
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Don’t just think; take action!
Anupam Mittal became a successful entrepreneur and investor after many failed businesses. When he attended Boston College, he learned the importance of having the confidence to think of different perspectives and doing things from your perspective. He suggests that young entrepreneurs believe and take action on their thoughts by creating ideas and products to build confidence in their critical thinking and decision-making skills. Sure, you might fail, but the lessons you learn will be invaluable.
He talks about how he wanted to invest in space tech and founded an Indian startup, Agnikul Cosmos. Agnikul Cosmos is launching pads for a fraction of the money. He commends the founders’ vision and courage to think about competing with industry giants like SpaceX and taking action to step into global entrepreneurship.
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There is no overnight success; be persistent.
While Anupam talked about his entrepreneurial journey, he spoke about how he lost businesses before finding the ones that made him successful. Therefore, he advised entrepreneurs not to get blinded by the “overnight success” stories as there are always years of hard work and failure contributing to that story.
Entrepreneurs should be persistent and confident in their ideas and keep working. Have a long-term outlook if you want to build a successful business, work to achieve that goal, and don’t give up.
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Pay attention, and ask questions!
The core of entrepreneurial thinking lies in a curious mind. When Anupam Mittal discussed how he came up with Shaadi.com, he shared advice on asking questions with young entrepreneurs. Be curious about the things around you and always look for alternative ways to do things. You may one day find a new startup idea. So, pay attention to your surroundings and ask whether the convenient way is the only way!
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Don’t be an entrepreneur for the wrong reason.
When CA Prateek Tosniwal asked Anupam Mittal to share some “don’ts” of entrepreneurship, the first one he shared was not being an entrepreneur
because it’s ‘sexy’. Don’t be an entrepreneur just because your friend raised millions or had their name printed in the newspaper. Find the purpose and idea you are passionate about because it’s a long journey and needs commitment.
What does Anupam Mittal look for in startups when investing?
Rachit Poddar asked Anupam Mittal about his investment strategy and the factors he considers when investing. He said some things were crucial in an entrepreneur and their startup model.
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Understanding of commercial acumen
He considers the ability of the entrepreneur to understand commercial acumen and how to make revenue and profits as one of the crucial traits.
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Learning agility
The founder must have the agility to learn from the brainstorming session with investors like Anupam Mittal, study it, and apply it to improve their product or explain why certain things won’t work out.
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Entrepreneur’s passion and vision
Anupam Mittal emphasizes the importance of passion in entrepreneurs for their startup and long-term vision.
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Risk and revenue
Anupam is known for his out-of-the-box investment in various emerging trends. He focuses on investing in early-stage startups with higher growth
potential. He is thorough with his risk management and diversifies his investment portfolio to balance the failure rate of the early-stage startup he has
invested in.
When interacting with our attendees, Anupam Mittal was asked which sectors have growth potential. He listed three sectors: manufacturing tech (tech products in the manufacturing industry), Space tech (the primary long-term vision for India), and medical tech (considering the medical tech from the West is expensive in India). He talked more about the scope of these sectors; you can check out the video here.
21BY72 is working tirelessly to bridge the gap between startups and investors by conducting events like our Global Startup Summit. Through the past three seasons, we have supported the entrepreneur by offering a stage to exhibit their startup, raise funds, and build their network. The summit helps investors connect and find potential startups to invest in. However, the interview and panel discussion with industry leaders are the highlights of our summit.
In our past seasons, we invited experts like Anupam Mittal, Ghazal Alagh, Raj Samani, Aman Gupta, Parul Gulati, and more. The Global Startup Summit Season 4 will be grand and more insightful. If you learn from such esteemed founders and investors or raise funds and build your network, you have the best opportunity right in your hands. Early birds get a good discount, so explore our website and reserve your seats now!!