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Empowering India's SMEs | Akash Gehani @ Instamojo
137 Plays5 years ago
‘Jo bhi karunga, usme khush rahunga, kidhar bhi mein kaam karu, I want to be happy’ – Akash Gehani
Here is a story of an intelligent boy who grew up in the suburbs of Mumbai with one mantra ‘never take yourself seriously’
But when it came to starting a business, Akash was very serious about helping small and micro-businesses to grow and help them trust the internet. Instamojo started with Payment Links – a simple URL that one can copy and paste anywhere on the internet and receive payments online via any payment mode. Today Instamojo has 3 Million+ payment links, 50,000+online stores and a 5 million+ monthly reach
Akshay Dutt talks to Akash Gehani about his early days and how the idea for Instamojo was hatched.
Some key takeaways from this show are:
- How to stick to your vision when faced with fast up-scaling options.
- Networking the right way to help your business grow.
- Being persistent with ideas in spite of initial failures; and
- How to keep constantly learning from your environment
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Transcript
Introduction of Podcast and Hosts
00:00:02
Speaker
HD Smartcast You are listening to an HD Smartcast original.
00:00:24
Speaker
Hi, I am Akshay. Hi, this is Aurob and you are listening to the Founder Thesis Podcast. We meet some of the most celebrated other founders in the country and we want to learn how to build a unicorn.
Starting an Online Business
00:00:40
Speaker
I want to set up an online business where I will be selling homemade organic cosmetics. Do you also have a homegrown business idea that you want to take to the market?
00:00:52
Speaker
stuck in our homes, the only way to sell your product or service is by going online.
Introduction to InstaMojo
00:00:58
Speaker
And here's where InstaMojo comes to the rescue. With the help of InstaMojo, you can easily list your products on a digital storefront, link your bank account and start accepting payments within one day and with no technical skills needed.
Interview with Akash Kehani
00:01:15
Speaker
Today, Akshay Dutt speaks to Akash Kehani, founder of Instamojo, on his journey of building up one of the most promising fintech companies of India, serving more than 1.2 million online sellers and processing more than a quarter of a billion dollars in revenue each year.
Akash Kehani's Early Life
00:01:40
Speaker
What were you like as a kid?
00:01:42
Speaker
who was growing up in Bombay. Were you like a TV-free kid? Were you like a sports-free kid? What was remarkable about your childhood? Both. So, as a kid, I was intelligent. Or I was intelligent, but I was genuinely intelligent. You knew who I was intelligent to. That awareness was there.
00:02:10
Speaker
Over time, I have been in school, I have been in class, I have been in 3rd foot rank. And that is why I have been in 3rd foot rank. 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have been in 3rd foot rank, I have
00:02:36
Speaker
So, I realized that when I was a kid, I had a lot of problems. So, when I was a kid, I had a lot of problems. So, I realized that when I was a kid, I had a lot of problems. So, I realized that when I was a kid, I had a lot of problems. So, I realized that when I was a kid,
00:03:04
Speaker
You are all migrants here or there.
00:03:29
Speaker
For example,
00:03:35
Speaker
I think it's the same game, I think it's the last game. I think it's the same game, I think it's the last game, I think it's the last game, I think it's the last game, I think it's the last game, I think it's the last game, I think it's the last one, I think it's the last one, I think it's the last one, I think it's the last one, I think it's the last one, I think it's the last one, I think it's the last one, I think it's the last one, I think it's the last one, I think it's the last one, I think it's the last one, I think it's the last one, I think it's the last one, I think it's the last one, I think it's the last one, I think it's the last one, I think it's the last one, I think it's the last one, I think it's the last one, I think it's the last one,
00:04:01
Speaker
And then by the time you hit 10th, 12th, did you get serious about the career?
Educational Journey
00:04:07
Speaker
You were like, must you accept like chalra types?
00:04:19
Speaker
I think I regret more than that. So I think 10th year of course, I did a lot of research on it. So it's time for me to go to the science medium. I can take my time to go to the B.B. here more or less. But it's time for me to go to the default class. I'm going to talk to Dr. H.B. here in the row. Especially Dr. Mark H.B.H. So 10th year I went to the science medium. 12th year, somehow the college was number one. And I didn't have any idea.
00:05:00
Speaker
So anyways, but even till that point,
00:05:11
Speaker
Now, I'm going to tell you a few things. First of all, my friends are enjoying this journey. So, I'm going to tell you a few things. First of all, I'm going to tell you a few things. First of all, I'm going to tell you a few things. First of all, I'm going to tell you a few things. First of all, I'm going to tell you a few things. First of all, I'm going to tell you a few things. First of all, I'm going to tell you a few things. First of all, I'm going to tell you a few things.
00:05:40
Speaker
So, if you want to be a smart person, you need to be an expert. If you want to be a professional expert, you need to be a smart person. If you want to be a smart person, you need to be a smart person. If you want to be a smart person, you need to be a smart person.
00:06:02
Speaker
So, you have to know that you are not a person, not an engineer, but an engineer, and you have to know that during those four years, you have to know the attitude of that person, that caught up with you. So, you have to know that you are no longer an expert, you have to know that you are an expert among the last four years.
00:06:33
Speaker
In the sense, women are able to arrive on a switch across the toro.
00:06:42
Speaker
I think engineering is an example of this. It's an example of an example of this. She was an engineer in India, which is a sad reality. So, if I go back, I don't know if I would change the stage. Like, my engineering actually is other for Delta, or even after that, I don't know if I would change the class or not. I think engineering was the first time that I had an opportunity to become an engineer.
00:07:33
Speaker
Did you finish your engineering?
00:07:36
Speaker
Engineering finished in 2005. So, even till then, even till then, we have thought about it. Even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then, even till then,
00:07:52
Speaker
So, when you look at the flow, you can see that there is a lot of work done.
Engineering Education Insights
00:07:56
Speaker
So, when you look at the exam, of course, for example, that is focused more on, you know, vocab, vocal and math, right? Basic form, not the engineering one of math, right? So, you can see that there is a lot of work done.
00:08:05
Speaker
even till then
00:08:13
Speaker
I think college is the top 3,4,5,6,7,8,5,6,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,8,7,
00:08:32
Speaker
If you look at the light, you can see that there is light in your eyes. You can see that there is light in your eyes. But if you look at the light in your eyes, you can see that there is light in your eyes. But if you look at the light in your eyes, you can see that there is light in your eyes. But if you look at the light in your eyes, you can see that there is light in your eyes.
00:08:50
Speaker
I think the best thing about India is that by the final year, my mind has been broken. I don't know what to say. I don't know what to say. But I think that's why I think that's why I think that's why I think that's why I think that's why I think that's why I think that's why I think that's why I think that's why I think that's why I think that's why
00:09:09
Speaker
And I think...
Transition to Business
00:09:35
Speaker
But basically, I don't know what the business side is about.
00:09:49
Speaker
So, this is the CAT score. So, I think 2006 was the CAT score. Next year, the next year, I joined the company. And I think that the CAT score was 99.86. So, I think that the CAT score was 86.
00:10:09
Speaker
Which was bad, but not that bad. When I was a kid, my friend called me and said to me, I am a cat. And he said to me, I am a cat. But he told me, welcome to I am Indore. Because he told me to call me Indore, which was all Indore. And he told me to call me Indore. Because he told me to call me Indore. Because he told me to call me Indore. Because he told me to call me Indore. Because he told me to call me Indore. Because he told me to call me Indore. Because he told me to call me Indore. Because he told me to call me Indore. Because he told me to call me Indore.
00:10:37
Speaker
So, coming back to this, how did you know capco business was interested and not software? You said you had some projects, you had done some projects. So, how did you know capco business was interested and not software? So, how did you know capco business was interested and not software? You said you had some projects, you had done some projects.
00:10:55
Speaker
That had a big effect on me. So, mid-19th month back in Bombay, so I think it was early teens, right? Like, let's say, Bhagira, Pandara, Swarkevich. So, every year, Bombay is going to show up.
00:11:11
Speaker
If you don't have a team team, then you will be able to do it. Of course, if you have a local team, then you will be able to do it. If you have a team team, then you will be able to do it. If you have a team team, then you will be able to do it. If you have a team team, you will be able to do it.
00:11:32
Speaker
If you want to find a fundraiser, you have to pay for it. You have to pay for it. You have to pay for it. You have to pay for it. You have to pay.
00:11:42
Speaker
When you plan to operate in a state like this, you have to take care of it, you have to take care of it, you have to take care of it. From a community side, from an office side, you have to take care of it. And one of the things that I always enjoyed during this series was that you have to take care of your business. You have to take care of your business. You have to take care of your business, you have to take care of it.
00:12:07
Speaker
If you want to do something like this, you can do it. If you want to do something like this, you can do it. If you want to do something like this, you can do it. If you want to do something like this, you can do it. If you want to do something like this, you can do it. If you want to do something like this, you can do it.
00:12:27
Speaker
SC Nikaldir. But everyone, H is a cheeky. So Juket Hamara finally a project. That was, I think, the only time also bought a photo. And they actually bought, bought Seeker, bought Research Kia, bought Kuch Kiaos Kire. So, how many projects were there? Juket, how about stock market analysis stuff? For example, science, algorithms, science, multiple ways there. If those were H's, Seeker, the stock market would have bought Seeker. So, we can't say, can't say, which is X Aga project. By the end of the year, we are very happy.
00:12:57
Speaker
What do you mean by that? This is a clear question. Software engineers take stock market coverage as well.
00:13:08
Speaker
The connection between the two countries is very important. There is exposure, CV, etc. So, if you look at this group, you can see that it is a very good group. So, of course, if you look at this group, you can see that it is a very good group. But if you look at this group, you can see that it is very good.
00:13:30
Speaker
If the company connects with the company, the company will be able to apply to the company. They will be able to apply to the company. They will be able to apply to the company. If the company is interested in the stock market, they will be able to apply to the stock market. If the company is interested in the stock market, they will be able to apply to the stock market. If the company is interested in the stock market, they will be able to apply to the stock market. If the company is interested in the stock market, they will be able to apply to the stock market.
00:13:56
Speaker
So we have to find out how to use this data for stock market analysis. We have to find out what is the average price, what is the average price, what is the average price. But we have to find out what is the average price. So, during this phase, we have to find out how to use this data. We have to find out how to use this data. We have to find out how to use this data. We have to find out how to use it.
00:14:19
Speaker
I think it's a serious thing to do. So if you don't know that, it's not a bad mistake to do that. But if you plan to do that, you know what? If you plan to do that, you know what? If you plan to do that, you know what? If you plan to do that, you know what? If you plan to do that, you know what? If you plan to do that, you know what? If you plan to do that, you know what? If you plan to do that, you know what? If you plan to do that, you know what? If you plan to do that, you know what? If you plan to do that, you know what? If you plan to do that, you know what? If you plan to do that, you know what? If you plan to do that, you know what? If you plan to do that, you know what? If you plan to do that, you know what? If you plan to do that, you know what? If you plan to do that, you
00:14:43
Speaker
For whatever reason, it's not the same as the previous one. It's the same as the previous one. But it's not the same as the previous one. It's not the same as the previous one. It's not the same as the previous one. It's not the same as the previous one. It's not the same as the previous one. It's not the same as the previous one. It's not the same as the previous one. It's not the same as the previous one. It's not the same as the previous one.
00:15:07
Speaker
So then you got into MDI. So MDI maybe puts anything remarkable in terms of project work or anything like that. No, I think it's a great thing to do. I don't know about engineering, but there are many resources there. From an academic side, there is no peer group here.
00:15:33
Speaker
But if I have to go back, I have to go back. If I have to go back, I have to go back. If I have to go back, I have to go back. If I have to go back, I have to go back. If I have to go back, I have to go back. If I have to go back, I have to go back. If I have to go back, I have to go back. If I have to go back, I have to go back. If I have to go back, I have to go back. If I have to go back, I have to go back. If I have to go back, I have to go back. If I have to go back, I have to go back.
00:15:57
Speaker
I did not get any decent job. But I got a decent job if I call it, but not something just for interest. So, I think that, of course, if you have an education loan, if you don't have an education loan, then you won't pay off. So, you have to pay off. You have to pay off. So, you have to pay off. So, you have to pay off. So, you have to pay off.
00:16:26
Speaker
So, before this, right, as a company is very high on Six Sigma, right, every employee is a green belt.
00:16:38
Speaker
I think there are a lot of people who are interested in this project. There are a lot of people who are interested in this project. There are a lot of people who are interested in this project. There are a lot of people who are interested in this project. There are a lot of people who are interested in this project. There are a lot of people who are interested in this project.
00:16:57
Speaker
So, of course, many places are actually green-bent project here, but not the green-bent, but if I may, what? What do you mean? I'm not sure about the documentation of the process, but I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think it's a good process, I think
00:17:21
Speaker
Well, because of this, my boss's boss, the head of the functional department, he looked very angry at me. He was like, she was so great. But because you are not completing your green belt certification, you have to be a good man. And if you do that, he will hurt you because of you. Don't do it. You have to be a good man.
00:17:48
Speaker
If you are interested in marketing, you can do great things, and you can do great things. Especially if you are interested in marketing, you can do great things. If you are interested in marketing, you can do great things.
00:18:00
Speaker
Finally, in the company, this is the placement season. So, it's been a long time since the placement season. So, it's been a long time since the placement season. So, it's been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a long time since the placement season has been a
00:18:23
Speaker
If you don't have a job, you have to pay for it. If you don't have a job, you have to pay for it. If you don't have a job, you have to pay for it. If you don't have a job, you have to pay for it. If you don't have a job, you have to pay for it.
00:18:51
Speaker
And again, if you do that at a much bigger level, of course, there is a lot of interest, but there is also a lot of interest. And I think, even before that, I think, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even before that, even
00:19:18
Speaker
So, you know, during that year, you know, different companies have said, you know, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different companies have said, you know, different
00:19:44
Speaker
And then I decided to go to the hospital. And then I decided to go to the hospital. And then I decided to go to the hospital. And then I decided to go to the hospital. And then I decided to go to the hospital. And then I decided to go to the hospital. And then I decided to go to the hospital.
00:19:58
Speaker
And at that point, I figured, like, change. I realized, you know, I want to be happy on a day-to-day basis. Money doesn't matter. But I want to feel charged up. I want to feel charged up. I want to feel charged up. Having a simple society about my body, I don't know.
00:20:23
Speaker
She told me very well that she knew me very well and she told me very well that she knew me very well and she told me very well that she knew me very well and she told me very well that she knew me very well and she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told me very well that she told
00:20:49
Speaker
If you have a lot of problems, but more than that, you know, with your relationship with an authority, superior, subordinate, etc. You can only be happy if you do something by yourself.
00:21:01
Speaker
So what happened is when I left, when I left WLS, there was a lot of people who told me that I had a plan.
Startup Journey Begins
00:21:22
Speaker
We have a job hosting site, basically a start-up team. And we have a lot of people who are interested in marketing. So, we have a software feed, a camera, and we have a great period. So, we have a lot of people who are interested in marketing. So, we have a lot of people who are interested in marketing. So, we have a lot of people who are interested in marketing. So, we have a lot of people who are interested in marketing. We have a lot of people who are interested in marketing. So, we have a lot of people who are interested in marketing. So, we have a lot of people who are interested in marketing. So, we have a lot of people who are interested in marketing.
00:22:10
Speaker
My decisions are very wrong.
00:22:17
Speaker
So I was the first to join the company. So when I joined the company, of course, I joined the business side, sales side, and then I joined the company. So the company was called Bonobo. It was a group by itself. It was a group called Groupon Subuse. It was a group by itself. It was a group by itself.
00:22:45
Speaker
And then it could become, over the next 3 months since I joined, I have been in charge of this company for 3 months now. I have been in charge of this company for 3 months now. I have been in charge of this company for 3 months now. I have been in charge of this company for 3 months now. I have been in charge of this company for 3 months now. I have been in charge of this company for 3 months now. I have been in charge of this company for 3 months now. I have been in charge of this company for 3 months now. I have been in charge of this company for 3 months now.
00:23:09
Speaker
restaurants, or spa. So, if you have a business that you want to offer, then you have to have customers attract customers. You have to have a lucrative opportunity. So, you have to sell your customers. First time, you have to sell your customers. First time, you have to sell your customers. First time, you have to sell your customers. First time, you have to sell your customers. First time, you have to sell your customers. First time, you have to sell your customers. First time, you have to sell your customers. First time, you have to sell your customers. First time, you have to sell your customers. First time, you have to sell your customers. First time, you have to sell your customers. First time, you have to sell your customers. First time, you have to sell your customers. First time, you have to sell your customers. First time, you have to sell your customers. First time, you have to sell your customers. First time, you have to sell your customers. First time, you have to sell your customers.
00:23:37
Speaker
Soon after, we came to Akwai Rovay. The deadly smile group came to Akwai Rovay. And after that, we came to Akwai Rovay. And after that, we came to Akwai Rovay. And after that, we came to Akwai Rovay. And after that, we came to Akwai Rovay. And after that, we came to Akwai Rovay. And after that, we came to Akwai Rovay. And after that, we came to Akwai Rovay. And after that, we came to Akwai Rovay. And after that, we came to Akwai Rovay. And after that, we came to Akwai Rovay. And after that, we came to Akwai Rovay. And after that, we came to Akwai Rovay.
00:24:20
Speaker
This is one quick question here. So why did they give you the job because of your 1M0 experience?
00:24:43
Speaker
And the reason is because of course e-commerce was very difficult because it was a trike. And the question is, as a person with, of course, experience, but not that the fact, you know, when you start up with ground zero, I bring that attitude and ability, you can lead that. But if you want to do that, you have to have a role. If you want to try, you can try, you can try, you can try.
00:24:55
Speaker
So when I went for it right, I was rejected. But then they called me back.
00:25:09
Speaker
And inevitably, it almost hurts to fail. Which is, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a few years, after a
00:25:38
Speaker
Let's go and start something. But of course, we have to start something. We have to have motivation here, we have to have problems, problems. And in that phase, I used to reconnect with, I used to talk to the founder of one of the one of the start-up talks. So we used to say that.
00:26:16
Speaker
So by this time, I have learned to get together.
00:26:24
Speaker
I don't know what to do with it. I don't know what to do with it. I don't know what to do with it. I don't know what to do with it. I don't know what to do with it. I don't know what to do with it. I don't know what to do with it. I don't know what to do with it. I don't know what to do with it.
00:26:54
Speaker
It's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson, it's not a science lesson,
00:27:22
Speaker
My BBM used it a lot. So, I think it's been a long time since I've been here. So, it's been a long time since I've been here. So, I think it's been a long time since I've been here. I think, lately, around maybe September time, in 2011, I've been a team leader. I've been a charlotte team leader. I've been an engineering side player and I've been a business side player.
00:27:47
Speaker
So, how many product banayas are there? Now, I will look at service businesses, restaurant types. Half the day you are very lean and all of it. Can I help you attract customers in that phase? So, the product banaya, which was in real-time, it was offered in real-time.
00:28:43
Speaker
And you had got your job by then.
00:28:45
Speaker
Yeah, this was still on the side. During the second phase of it, I had quit. Like, huh? Like, during the second phase. And during that phase only, I got married also. But anyway, so...
00:29:08
Speaker
But if you don't realize that over the time there is no use, no traction, no use, no use, no use, no use, no use, no use, no use.
00:29:21
Speaker
If you want to do this, you have to try it. If you want to try it, you have to try it. If you want to try it, you have to try it. If you want to try it, you have to try it. If you want to try it, you have to try it. If you want to try it, you have to try it. If you want to try it, you have to try it. If you want to try it, you have to try it. If you want to try it, you have to try it. If you want to try it, you have to try it. If you want to try it, you have to try it. If you want to try it, you have to try it. If you want to try it, you have to try it. If you want to try it, you have to try it. If you want to try it, you have to try it. If you want to try it, you have to try it. If you want to try it, you have to try it. If you want
00:29:49
Speaker
So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this. So, let's stop this.
00:30:18
Speaker
Well, it's better if you look at CCD, but it's also better if you look at NAPK. Actually, if you look at NAPK, if you look at NAPK, it's better if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look at Insta, if you look
00:30:46
Speaker
The process typically takes two to three months for any business. Or would business have to be a big business? A lot of individual companies have to be able to connect with each other. So, let's try this. So, let's try this. So, let's try this. So, let's try this. So, let's try this. So, let's try this.
00:31:14
Speaker
But everyone could see we have to move from that. We have to start earlier. But as a team, he likes us. Raja Anandam who was the MD of Google.
Investment and Validation
00:31:40
Speaker
And India got one of the most prolific engineering investors. He used to talk to us. He was like interested in what we were doing. But he was trying to figure out how to trigger the IKR for that. But he had a new idea. He said, I'll invest money. And he was like, oh, this sounds good. So he had a back-end validation. So he started. Of course, when he triggered the IKR, he had to pay for the payments.
00:32:08
Speaker
You both need complicated or regulated space. So, you have to think about it. You have to think about it. You have to think about it. You have to think about it. You have to think about it.
00:32:21
Speaker
And then, more specifically, things are going to change, right? Of course, this taboo is still going on. I mean, I think that's a small success in this. But, I think the age has been growing. So, I think that in 2012, it started in C, or maybe Chalu has.
00:32:39
Speaker
What was the time it took for you to reach a stage where you felt that you had a good business. I am sure you got small numbers right now. So, you know, what kind of conditions do you think you had a good business?
00:32:57
Speaker
The initial validation will get through one investor saying, I will back you. But will market validation take place? And how much time did that take for you to get that market validation? People need this product and that traction is happening and the word of mouth is happening and all of that.
00:33:19
Speaker
So, I think it's very important for me to show you from around late 2012, maybe around September, October types. So, I think it's very important for me to show you from the beginning, from the beta to the alpha, but from the alpha out here. And also, I think social presence is very important for me. So, I think it's very important for me to show you
00:33:58
Speaker
But after that, I think there is a lot of life going on.
00:34:10
Speaker
around let's say first or second quarter in 2013.
00:34:30
Speaker
And I think in that frame, there are 500 start-ups that are US-based and accelerator-based. So, I think we have to be able to expose that to Silicon Valley. And, you know, we have to be able to track it. We have to be able to realize that it is something small. But we have to be able to realize that it is something small.
00:34:59
Speaker
In fact, this is something, right? There is something very big that you are looking at. That is something very big that you are looking at.
00:35:22
Speaker
I think it's around mid of 20-30 minutes. I think it's around mid of 20-30 minutes. I think it's around mid of 20-30 minutes. I think it's around mid of 20-30 minutes. I think it's around mid of 20-30 minutes. I think it's around mid of 20-30 minutes. I think it's around mid of 20-30 minutes. I think it's around mid of 20-30 minutes. I think it's around mid of 20-30 minutes. I think it's around mid of 20-30 minutes. I think it's around mid of 20-30 minutes. I think it's around mid of 20-30 minutes. I think it's around mid of 20-30 minutes.
00:35:49
Speaker
Like, attention is not funny because from a BBA, private, beta mode, we have to give a lot of cons. But in my job, we have to get customers who will use and then we can make money out of it.
00:36:03
Speaker
And I think in the beginning of 2014, we realized, you know, there were a lot of doubts about what we were going to do, what we were going to do and what we were going to do.
InstaMojo's Market Position
00:36:11
Speaker
Only 2014 was down. Then we realized, we have reached, not very strong, but we have some product market fit. And we saw growth. I think that was late 2013, 2014 was that move. When we made that move, we realized, you know, that we were going to do a validation of the product market.
00:36:32
Speaker
So what was the product? Was that the product? Yes, yes. That was the concept.
00:36:58
Speaker
So you never thought of doing what PTM did in the sense that offline merchants go digital payment collector method. You were primarily targeting your online businesses. No, we never thought of that. We never thought of that. We never thought of that. We never thought of that. We never thought of that. We never thought of that.
00:37:26
Speaker
At a higher level, in a macro, we are very very focused. We know that our audience is a small business. Just for technology, we have to take advantage of our online products. And we have to take advantage of our products. Our payments are just one part, right? Our payments are not the end goal. We are also very clear. We have to take advantage of our products. We have to take advantage of our online storefronts. We have to take advantage of our commerce setup.
00:37:50
Speaker
In the early days, we used to have this, you know, we call it, uh, intellectual masturbation. That really helped. Because the problem is, 10-15 year plan will happen.
00:38:14
Speaker
And if I look at it, we are more or less very tuned on that. I know, I know this with a lot of assurance, but after 5 years, I don't know what my product will be for the next city.
00:38:40
Speaker
At a higher level, we have a lot of clarity. Of course, that can be wrong also. But if you don't know, imagine if you are in a foreign area, you are inevitably moving in that direction. And not because your customer needs this. But I think to come back to your question,
00:39:10
Speaker
First of all, why do customers want to hold such a small business? But at the same time, this is too far. From a product level, we are not geared for that yet.
00:39:38
Speaker
So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted. So, let's not be distracted.
00:40:03
Speaker
All these businesses have taken good 20 years to get to where they are. And you have to be very very focused on this. And that is one reason because there are very few companies who face this. The investors are also shy of this.
00:40:24
Speaker
But we didn't use, this is a long game. So let's always be aligned for the bigger goal, for the long term goal instead of here. These are businesses targeting small businesses, right? For a very good thing here, any of them, when they start your income, say, you know, they've taken a good half a decade to a decade in more cases.
00:40:54
Speaker
So we realize that it's a long-term game and let's be prepared for that. You don't know how much space we need, especially if you have a big video, media, or all of it, it's a good start, you can start your own work, you can start your own campaign, you can start your own game, you can start your own game, you can start your own game, you can start your own game.
00:41:16
Speaker
which means that the sustainable business will be timed up. Of course, it has to be slow, fast. But then that is the goal, right? The goal is not to evaluate the value or the cost. So, we have a very, over the years, more maturity behind this part of it.
00:41:33
Speaker
I think the only part of it is because of a post-hurt. Maybe it's because of both parties, both parties, both parties are in the same place. But I think it's because of that. And of course, I think it's because of that. I think it's because of that. I think it's because of that. I think it's because of that.
00:41:52
Speaker
So we are clear that we will do value, we will do with lot of integrity or how we will chase the bigger goal which we have. I want to fail, trying to do something big and failing the right way. And I want to take some of the sports back on it. You know, losing is a part of it. We will lose.
00:42:13
Speaker
But I don't want to think that at the end of 90 minutes or at the end of the game, I'll look back and see how many effort I've made. Can't digest that. Here, I could have done better. I don't want to have that regret. I have done my best. I'll do that. So, what has been your
00:42:31
Speaker
acquisition strategy for acquiring merchants or small businesses. So one of the things that we have today, in each of these we've taken is called mojo varsity, which is which is our learning portal, short video courses on different topics like how can you use email marketing, how can you do 5GST, multiple things like that.
00:42:55
Speaker
I have a question about how many merchants are there and these are free. For example, if you have monetisation, you will be able to do it. Because if you have a community site like this, you will be able to help the community. You will be able to do it. And this is a long-term value because it is a long-term value. Because it is a long-term value because it is a long-term value because it is a long-term value because it is a long-term value because it is a long-term value because it is a long-term value because it is a long-term value because it is a long-term value because it is a long-term value because it is a long-term value because it is a long-term value because it is a long-term value because it is a long-term value because it is a long-term value because it is a long-term value because it is a long-term value because it is a long-term value because it is a long-term value because it is a
00:43:25
Speaker
So are we creating, you know? It's almost like coffee cheese, right? So basically, aim is, okay, how can we help these businesses learn more things and grow? Or what, what, what do you think? Okay, businesses want to do that. If they have time, they want to spend some time productively. Personally, you also, you and I, we want to spend a lot of time on Netflix and others to just, you know, chill. But also want to spend time learning and, you know, upgrading yourself.
00:43:53
Speaker
I think that's a very strong need in these businesses. So I think there's a lot of initial on that front, right? Different kinds of content, helping them grow, helping them with the community part of it. This is not a direct acquisition strategy, but this helps.
00:44:27
Speaker
But then I want to see that acquisition is a long-term game. I want to ensure that they are adding value to them with this.
00:44:38
Speaker
InstaMojo recently crossed another milestone.
Growth and Achievements
00:44:41
Speaker
They made their first-ever acquisition by buying getmeashop.com, which helps small businesses go online. What's more interesting is that just like demonetization was Paytm's moment to shine, the current Covid lockdown has been InstaMojo's moment to shine and their daily new merchant sign-up have chunked 20%.
00:45:05
Speaker
watch out world, here comes India's next fintech unicorn.
00:45:57
Speaker
This was an HD Smartcast original.