Kunal Shah's Ventures Spark Debate: Success Despite Persistent Losses
Kunal Shah's entrepreneurial journey has sparked discussions and debate. Despite co-founding successful ventures like Freecharge and CRED, both have incurred substantial losses. Deloitte Senior Consultant Adarsh Samalopanan questioned celebrating Shah's journey given the persistent unprofitability.
Shah's first venture, Freecharge, started in 2010 and earned Rs 35 crore in revenue by 2015. However, it also incurred losses of Rs 269 crore. Freecharge was acquired by Snapdeal for Rs 2,800 crore and later by Axis Bank for Rs 370 crore, a significant drop from its earlier valuation.
In 2018, Shah launched CRED. Over seven years, it has posted cumulative revenue of Rs 493 crore but has incurred net losses of Rs 5,215 crore. Despite the losses, Shah's ventures have demonstrated growth and innovation, with CRED expanding into credit services and Freecharge pioneering digital payments.
Samalopanan's critique triggered mixed reactions. Some praised Shah's long-term vision and innovation, while others raised concerns about inflated valuations and unprofitability.
Shah's entrepreneurial journey, marked by successful exits and growth, has sparked debate on the celebration of entrepreneurship. While some defend his long-term vision, others question the sustainability of unprofitable ventures. Shah himself acknowledged the value of entrepreneurs creating profitable companies without external capital.
Read also:
- MRI Scans in Epilepsy Diagnosis: Function and Revealed Findings
- Hematology specialist and anemia treatment: The role of a hematologist in managing anemia conditions
- Trump announces Chinese leader's confirmation of TikTok agreement
- EU Leaders Discuss 'Drone Wall' to Tighten Border Security After Munich Incident
