Shark Tank’s Anupam Mittal opens up over investing in Porter
Shark Tank’s Anupam Mittal opens up over investing in Porter
Amidst a recent episode recent of Shark Tank India season 3.
Shark Tank India’s Anupam Mittal opened up about his investment journey, and looked back on his smart decision to get into the mobilities industry.
Anupam was an early investor in the ride-sharing company Ola, and revealed in a new interview that he could’ve exited Porter if he wanted to recently, but believes he stands to make more money if he’s more patient.
In Barbershop podcast,
Anupam had revealed that because he’d spent a decade in the US, he had an understanding over.the trends likely to start in India.
He went on to add that as an entrepreneur, you have to be optimistic and that’s how Ola also happened fairly early on.
On quizzed over his investment in Ola, Anupam revealed that his friend had told him about it, and asked if he would want to consider being a part.
But you know how it is, your own experiences shape your understanding of things, and he couldn’t imagine how someone would have any difficulty hailing a cab. He had lived in Mumbai, where one can get a ride as soon as you step out of your house.
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But, as luck would have it, at that time around Anupam was in Delhi and realised that getting a cab could actually be difficult for some people. So he started calling Bhavish Aggarwal’s call centre, and half the time he’d only answer the phone. That’s how things are at the beginning. He found him to be passionate, determined, and I decided to invest Rs 20-30 lakh. In a recent interview Anupam said that he exited the company with ‘several hundred crores’.
Anupam also spoke about investing in Porter, which recently hit a valuation of over Rs 3700 crore. “Porter is killing it. And see, you can’t always take an exit. With Porter as well, I could’ve exited at half-a-billion north. But he knew that with Porter, there’s dominance, there’s network, the team is solid. Many players have exited this industry after accepting defeat. So, he believes that his is a $4-5 billion outcome. Will he wait until then? Probably not. But maybe the next year he will get out.
Anupam can currently be seen on the third season of Shark Tank India. He has appeared in every season of the reality show, alongside Aman Gupta, Namita Thapar, Vineeta Singh and Peyush Bansal.
News Edit K.V.Raman
