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Sandeep Aggarwal : Serial Entrepreneur, Angel Investor and the Founder of Shopclues

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The emerging Indian start-ups are bringing a great revolution in the entrepreneurial world. The young Indian minds and their untamed passion is creating history in the 21st-century economy. But, it isn’t always the young minds, because it is known that experience makes you wiser.

Sandeep Aggarwal is one such passion-driven entrepreneur who has successfully launched two start-ups, Shopclues and Droom, and now is one of the most influential men in the business world. The idea of Shopclues was pondering in his mind since 2010, but finally, he founded it in July 2011, followed by the launch of Droom in April 2014. The entire business was set up in Silicon Valley, and later, it shifted to India. Aggarwal faced a lot of difficulties and failed plans before he finally founded Shopclues.

Early Education

After passing school, Aggarwal pursued a degree in B.Com followed by a master’s from Indore. While doing his master’s, he also interned with Kotak Mahindra, Mumbai.

The First Step into the Professional World

Sandeep Aggarwal Founder Shopclues
Image Source: techcircle.in

Aggarwal first stepped into the professional world when he landed an internship in Kotak Mahindra, in 1995. The internship was in Mumbai, and it was his first chance to interact with intelligent minds around him and learn from them. He was perfectly groomed in this duration of his internship on how to deal with people and work at a professional level. He realized that most of us might have proper skills and knowledge, but only a few knew how to expose it professionally. Aggarwal, in one of its interviews, said that this internship also helped him strengthen his analytical skills and strategic thinking, apart from business communication and personality development.

Life before Shopclues happened

After completing his master’s degree, Aggarwal worked in the field of investment banking. While working in it, something changed his mind, and he decided to move to the US. He joined the Washington University, St. Louis, USA to pursue an MBA degree, and after receiving the degree, he worked for two different companies. After leaving these jobs, he joined Wallstreet and served eight years as an internet analyst, where he was given research covers on companies like Google, Amazon, Microsoft, Yahoo! etc. Aggarwal is also a chartered member of TiE Silicon Valley.

While Aggarwal was still working as an internet analyst, in 2010, he visited India quite a few times to launch research coverage for MakeMyTrip. It was the time when the idea of launching an online marketplace clicked in his mind. He started planning about his business with a website called DealsClues.com, but finally, he settled with Shopclues.com, in 2010 and established this marketplace in Silicon Valley.

Founding of Shopclues.com

With Radhika Ghai Aggarwal (Sandeep Aggarwal’s wife), Mrinal Chatterjee and Sanjay Sethi, he started his new business in Delaware. By September 2011, the team moved to India and permanently settled in Gurgaon. At the very beginning of Shopclues, Aggarwal raised $1.95 million from his social circle.

In 26th January 2012, the public beta version of Shopclues was released, and by next month, the team size expanded to 25 from only 3-4 members. The Alexa ranking dropped from 14,000 at the beginning of the year to 200 only in August of the same year. The company started making a jaw-dropping profit with more than 2 million monthly visitors.

In January 2013, Shopclues has ranked as the fifth largest e-commerce companies in India, and the Alexa ranking dropped to 90. The business was progressing swiftly, until, July 2013, when he found legal charges filed against him for the time he worked as an internet analyst in Wallstreet. Aggarwal said that it was a time of sheer crisis in his life, and it almost took a year or so for him to get back on track. He didn’t have any choice other than avoiding the press and any other formal role in Shopclues. His family suffered, too. But today, Shopclues, his first company is worth $1.1 billion, and it is one of the largest online stores to serve in India.

Droom

Aggarwal founded Droom in April 2014, and it was the first-ever online platform for selling and buying automobiles (used and new) and services related to the same. Droom has a very strong founding team with more than 75 years of experience in technology. It was only after a year of its founding that Droom raised $16 million in Series A funding led by Lightbox.

Even today, it is India’s most trusted platform for automobiles.

The emotional outburst

In 2017, Aggarwal was in the spotlight for posting about a private matter in social media which was concerning his wife, Sanjay Sethi and Shopclues. An emotional outburst in social media is often not considered as a very clever judgment especially for business tycoons like Aggarwal. But, he said it was a very fragile moment for him and it was definitely a mistake to attract negative attention. Though he went through an emotional turmoil, the companies didn’t suffer any such loss but his personal life is still a very big question mark.

discord

Jason Citron : A Video Game Lover and the Founder of the Digital Distribution Platform Discord

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The video game industry is vast and is growing even more through online gaming and live game streaming. Over a decade ago, people could only play games on the desktops or gaming consoles. But now, they can play games online with other gamers as well. While playing, they can even talk to each other in real-time. This is called the real evolution of technology. Earlier, the gamers made the use of other expensive chat apps, like TeamSpeak, Mumble, and Ventrilo to communicate through chat at the time, they played games. But soon, they got their hands on more convenient and a lighter platform, i.e. Discord.

Discord is a VoIP application that Jason Citron, an American developer and entrepreneur, developed for the video gaming community. With Discord, the gamers are capable of sending and receiving texts, images, videos and communicate, while playing a game using the internet in real-time.

Early Life

Jason Citron, the founder and CEO of Discord, had always been a video game lover. His father, and his grandfather, both were businessmen. His first encounter with video games was through one of his childhood friends, who introduced him to NES (Nintendo Entertainment System). Later, when in middle school, in Florida, he opted for computers as one of his subjects in school. One of his friends at school was good at fundamentals of QBASIC and taught him the basics of programming.

Jason Citron
Image Source: vox.com

Inspired by his father, he also aspired to be an entrepreneur. By the time he was 13, he had learned a lot about computers and started teaching the basics of computers to people older than him and charged them a small amount of fee. When he was sixteen, he started part-time freelancing and wrote codes for different companies.

Since, he had always been into gaming and coding, after completing his graduation from the Full Sail University in Florida, he started working for a game company, where he worked on a gaming console in San Rafael. Meanwhile, he moved to a new apartment where he lived with the students of the University of California, Berkeley, where he got to meet Rohan Relan. Rohan’s uncle, Peter, was the owner of an incubator called YouWeb that supported mobile and gaming-focused businesses.

Building Aurora Feint; The First Startup

As Citron was into starting his own business, he met Peter and joined his company as one of the developers. At the incubator, he started working on a new iPhone game and built a company named Aurora Feint along with a fellow developer Danielle Cassley.

With the launch of the iPhone in 2007, Jason Citron got the opportunity to build new games that would work with the small screens. He focussed on creating games based on RPG and puzzles. The company launched the first version of Aurora Feint for free to use for iOS during the Christmas in 2008. The game was a success but was not making any revenues. Citron was looking for a better business model but had no clue how to work with newly built iPhones.

After just a few months the game reached one million people, but still, there was nothing that would pay back Citron and his company.

Founding OpenFeint

One day, while discussing with the YouWeb Owner Peter, Citron realised that the iPhone did not have Xbox live in it, but their Aurora Feint 2 did have a similar feature. It was the kind of first asynchronous MMOG (massively multiplayer online game). So they decided to build a separate SDK that other platform could integrate and use.

In February 2009, Citron launched the beta version of the software at TechCrunch, where he got to showcase it in front of hundreds of developers. This way, the software also got hundreds of signups, and thus, he was able to raise the money to produce the next version of the product. The software was free, but the company monetize the sale through revenue sharing, mobile storefronts, and game features.

The company carried out its first round of funding at the end of 2009, which was led by DeNA in Japan and raised $6 million. In the second round of funding, the company raised $5 million. By 2010, the company had more than 10 million users registered on the network. In October 2010, Intel Capital also invested a $3 million in the company. The next year, Japanese company GREE, Inc. acquired OpenFeint for a whopping amount of US$104 million.

The Journey from Hammer and Chisel to Discord

After selling the company, Jason Citron started another startup named Hammer and Chisel, a game development company, that launched its first game named Fates Forever, in 2014. Citron tried to launch the game as the Multiplayer online battle arena (MOBA), but due to the lack of good communication methods, it could not be commercially successful. This led Cistron to develop a new chat service, that would help people to chat in real-time while playing video games online.

Citron was able to get a sufficient amount of funding from YouWeb, Benchmark capital and Tencent for the development. Finally, he launched the first version of the product in May 2015, with the name Discord. Soon, the platform was famous and was used by the esports, LAN tournament gamers, and by the Twitch.tv streamers. In January 2016, the company received an investment of worth $20 million. In the same year, the growth rate for the software had reached a million users per month. By the end of the year, the software had registered 25 million users worldwide, and in December 2017, it recognised a total 90 million users, subscribed to the platform and raised $50 million by December.

By the end of 2018, the company valued at $2 billion and raised an additional $150 million, in a round of funding, led by Greenoaks Capital. In May 2019, the company announced that it has more than 250 million users across the world, who use the software.

The reason behind the success of Discord has been the consistent hard work of Jason Citron, and the skills, as an entrepreneur he possessed in his genes.

Adora-bots

Amazon Starts Testing its New Delivery Robots ‘Adora-bots’ in California

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Maybe it is an attempt to eliminate the need for more manpower or maybe to increase the work efficiency, but Amazon is trying to get robots to its work field. The company has been testing its new blue coloured robots for a few months now. After making its new little delivery scouts stroll in the streets of Seattle (Amazon’s headquarter city), the company has started the tests for the same on the roads of California, now.

The little robots have been named the “Adora-bots”, which has got “Prime” imprinted over them. The robots will be roaming around the city and deliver the packages to Amazon customers.

The little delivery robots from Amazon are blue and have got six wheels. It uses batteries for power and moves at walking speed. In the past few months, the robots have been trained in a way that they get to know the maps of the city better, and for that, Amazon has used the 3D maps. It includes cameras and the ultrasonic sensors, which makes this robot capable of identifying any sort of obstacles on its way.

Adora-bots
Image Source: hindustantimes.com

The company will be randomly choosing on who gets the delivery by these new robots, depending on the size and cost of the package as well as the place where it has to be delivered. The timings for the delivery for these robots will be only in the day time, and that too, between Monday to Friday.

Also, the robots will be under the surveillance of human scouts during the delivery, which the company has named as the “Amazon Scout Ambassadors”. They will accompany the robots to get it out of any kind of trouble and will also be answering the questions of the customers during the delivery.

The company has been bringing the robotics technology to its almost every operation to automate all the processes and increase the efficiency of its employees. Earlier, Amazon had introduced a collection of sorting robots in its warehouse, and before that, it tested delivering items using drones.

Amazon started the working on the Adora-bots in January 2019, and since then it has tested a bunch of six robots in the Seattle and Washington’s Snohomish County. The company undertook the tests in the daylight and in a different type of weather conditions to check its capabilities. Soon, the company may test the robots in other parts of the country as well.

Video Credit : Amazon YouTube Channel
blackmagic design logo

Blackmagic Design : Some Startups are Not to Make Money But to Change the World

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There were times when production cost to create a TV program was way higher than it would earn at the end. This was because of the high price equipment that the film and TV series maker would pay for buying or renting them. At that time, buying these camera equipment used to cost over a million-dollar and renting them was not less than a thousand dollar per hour. But being an engineer himself, Grant Petty, founder of Blackmagic Design, knew that the cost the vendors are putting on these equipments are way higher than their actual cost. So he concluded that he needs to do something to change the way everything worked in the TV industry.

Early Life

Grant Petty is an engineer and entrepreneur from Australia, who initially worked in the TV industry as an engineer. As a kid, he lived in government quarters with his family. The financial condition of the family was not that good.

When he was in high school, he started working with a local TV studio, with the help of a grant his school had received from the government. At the studio, he got to operate two PCs at the same time, and hence, he got the opportunity to learn to code. He kept himself busy in learning the basics of programming, and eventually, grew immense interest in coding.

Grant Petty founder Blackmagic Design
Image Source: buildingaunicorn.com

In late 1991, Petty moved to Singapore to work at VHQ Singapore. It was the biggest firm that provided digital facility products to filmmaker and people from the TV industry. The equipment the company sold used to cost a fortune at times. After working for a while in the TV industry, he found out that technology in the industry was over-priced. The vendors were taking advantage of the fact that the creators are not the coders, and do not know much about the technology.

The Turning Point

In 1992, his roommate, Peter, bought a scanner for his Mac Duo Dock computer. The scanner came with an image editing software application named Adobe Photoshop, and that was a kind of turning point of Petty’s life. He was amazed to see the various useful tools that photoshop provided. The software was able to beat his company’s $70000 PaintBox.

Photoshop was for the design industry but was able to do much TV-related stuff as well. This led Petty to explore the software even deeper. He even bought other design software to learn more about the design industry. He pitched the idea of using the design software in place of film-making software. Nobody took an interest in his idea. He realised that there was no market for such software in Singapore, so he moved to Melbourne and started working with another company.

Petty decided to establish a new industry that would transfer the control into the hands of the creators. But deciding was not enough. To change the industry, he needed to produce the products himself, so that he could cut the production cost. So he along with his roommate Peter started working on a product. He now wanted to connect design with TV.

Founding Blackmagic Design

In 2001, Petty founded Blackmagic Designs and launched the first product, a capture card for macOS, named DeckLink in 2002. The card was first to offer uncompressed 10-bit video, and for its uniqueness, 163 units were sold in the very first month. He had started the production with his own money, so the sale of so many units helped him with further production. He even had to live on rice for a week as he was out of money and he had to pay for the supplies.

Soon, the company added support for Windows to the card, and also included colour correction features to it. It also included support for Adobe Premiere Pro and Microsoft DirectShow. This way, the product started becoming more popular.

By 2005, the company had launched other products as well. The main highlights of the new product series were the Multibridge family of PCIe bi-directional converters and the FrameLink family of DPX-based software. The next year, the company launched the Blackmagic On-Air television production software, which still is one of the world’s most advanced live production switcher control software. The ATEM Television Studio includes the support for both Mac or Windows.

The company announced its first Cinema Camera in 2012. With the passing time, the company also started to grow. At the time, Petty launched his company, only one or two high-end production studios were in Melbourne. With the growth of Blackmagic Design, 80 per cent of the production houses started using its products.

In 2018, Blackmagic Design joined its hands with Apple and created the Blackmagic eGPU. The next product that the company released with the partnership was the Blackmagic eGPU Pro. In the same year, Blackmagic and Netflix came into partnership.

The Company Today

Today, the company has established its offices in four different continents and has also acquired around six other companies, including Da Vinci Systems, Echolab, Teranex, Cintel, eyeon Software, and Fairlight. The company’s major products are Broadcast Hardware, Cinema Cameras, Production Camera and Editing Software, including Fusion, DaVinci Resolve, etc.

Petty, with his determination, finally, completed his mission, as he, with Blackmagic Design, cut down production hardware and software expenses for the TV industry by 50 per cent. Today, Blackmagic Design values more than $300 million.

Robinhood

Robinhood : The Platform that is Democratizing American Financial System

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Stock exchange and cryptocurrencies, both have proved to be the most beneficial financial industries, where people can invest and earn. But, it has always been tough for people to understand the whole process and make their investment wisely. Using some of the eCommerce platforms costs a big amount, and most of the time does not help the way it should do. This had always been the pain point, and the 2008 financial crisis also became the reasons for the two U.S. based immigrants, Vladimir Tenev and Baiju Bhatt, to work on a new platform that would allow users to buy and sell shares free of charge. The platform that they created is Robinhood.

Early Life

Vladimir Tenev was born in Bulgaria, in 1987. At the time, his father was studying at the University of Delaware, the U.S. After one year, when Tenev was four, he moved to the U.S. to live with his parents. He spent most of his childhood in Virginia, and later, moved to the Bay Area. The family was quite drawn towards studies, and Tenev himself loved to study maths and science.

In 2004, Tenev joined Stanford University, where he met his future co-founder Baiju Bhatt. Both had opted for physics and maths as their degree’s majors. Bhatt is also an immigrant from India. The two shared a common interest, i.e. maths, that helped in building the bond between the two, stronger.

Robinhood founders
Image Source: glassdoor.co.in

After graduating from the Standford University, Bhatt joined a finance firm as his first job in San Fransisco, whereas Tenev joined UCLA to complete a PhD in Mathematics. While working at the financial firm, Bhatt realized that there was a great business opportunity in hedge funds.

Entering into Entrepreneurship & Founding Robinhood

So the two started their first venture, Chronos Research, in 2011 and got a small apartment in San Fransisco, where they started working on their project. The business they started offered tools for hedge funds and banks to build automated trading strategies. While working for their first joint venture, the famous 2008 financial crisis took place. The Lehman Brothers went under, and the market got collapsed.

The financial crisis inspired the two to move to New York City and find a better solution for share market trading. Their joint venture was the first step for their new startup Robinhood. Thus, they brought their existing technology to the retail brokerage market and started Robinhood in 2013.

Being the Millenials, they knew that smartphones will play the prime role for their new ventures, so they worked on different layouts of a mobile app for the platform, and sent it for the regulatory approvals. Before the app, they launched their website, that would do the same work as the app. They wrote “commission-free trading, stop paying up to $10 per trade” on the front page of the app, and worked on a waitlist, that would show people their position among other traders.

The Biggest Turning Point

The waitlist got Robinhood a mention in the Hacker News, that too at third after news on China moon mission and Google in a single day. The specifying in Hacker News got the company its first maximum traffic. After one day, Robinhood had its press lunch, following which, the platform got 10,000 signups, and in the next week, the signup reached 50,000. The company offered free membership to the users for their sign-ups. It only charged the users with a monthly fee instead of charging a particular fee on every single transaction.

The next task was to get the investors on board. The company raised $3 million in its seed round, led by Index, Google Ventures, Andreessen Horowitz, after pitching their startup in front of about 75 investors. Even before the company launched an official app, it had gained over 1 million signups, in the first year of its launch. After a year and a half, the company launched its app in March 2015. The Robinhood app offered the easiest interface for the users, such that it got most of the users under the age of 35.

The app has helped people to recover 90 per cent of their investment in the trade market, which is impossible with the traditional method. By the beginning of 2017, the platform had carried out the transactions of over $30 billion. In April the same year, the company raised another $110 million through a funding round led by DST Globa that made the company value at $1.3 billion.

The next year, on January 25th the company started to trade in cryptocurrency and announced a commission-free waitlist for the users from California, Massachusetts, Missouri, and Montana. By the end of the day, the waitlist had over 1,250,000 names registered. In May 2018, Robinhood raised $363 million Series D financing round led by DST Global and valued at $5.6 billion.

The Company Today

The company partnered with the Ohio-based Sutton Bank, such that to provide its users with checking and savings accounts as well as debit cards. The company raised an additional $200 million in a round of funding in 2019, that has led the company to value between in the $7 billion to $10 billion.

The company is registered with the U.S. Securities and Exchange Commission and headquartered in Menlo Park, California. Before 2019, the company’s primary source of revenue was from payment for order flow, but now, the source of revenue has been changed. The company earns its revenue from the interest earned on customers’ cash balances and margin lending.

Currently, the two co-founders are serving the company as the co-CEOs. Tenev was named among ‘30 Under 30’ in 2016, by Forbes. Robinhood became the first financial app to receive an Apple Design Award and was also listed among the top US FinTech startups of 2015 and various other rankings.

Note 10 series

Galaxy Note 10 Series to Get Major Microsoft Apps, as a Result of New Samsung-Microsoft Partnership

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Microsoft is one of the biggest tech company in the world, but it could not make a mark in the smartphone industry with its Windows phones. But now, the company has taken a step forward and has partnered with the biggest Android smartphone manufacturer company, Samsung.

Samsung just hosted its Unpacked event in the New York City, where it launched its Galaxy Note 10, Note 10 Plus, Note 10 5G, Galaxy Book S, and a few other Samsung devices. The Microsoft CEO Satya Nadella also attended the event and went on stage to announce the new partnership between the two companies.

The partnership will help Microsoft bundle a few of its apps to the Samsung Note 10 series smartphones. Through one of the features that the companies are combinedly getting to the phone is the mirroring of Androids apps to the Windows 10 systems using Microsoft’s Your Phone app. The users will be able to see their text messages, notifications, and even, the whole screen on their desktop or laptops’ screen by simply connecting the smartphone with a USB-C or USB-A cable. The users then can run all the apps of the phone on the PCs as well as make calls using the Your Phone app.

Note 10 series
Image Source: eftm.com

Other than the Your Phone app, the new Samsung Note 10 series smartphones will also render support for Microsoft’s OneDrive, Outlook, Microsoft Office, etc. With OneDrive the users will have an option other than Google Drive to store their data on the cloud. Also, the support for Outlook and Microsoft office will provide the users with a better way to process their documents over their smartphones.

“From calls and text messages to emails and photos, we’re making these everyday experiences great and the interactions between all the devices seamless,” Microsoft CEO Satya Nadella said while on stage, “the combination of Microsoft intelligent experiences and Samsung’s powerful, innovative new devices, like the Galaxy Note 10 and Galaxy Book S, make this possible.”

Most likely, the new partnership is entirely targetting on the rival company Apple, that already has got awesome built-in products on its iPhones. The main reason why iPhone users have always been afraid of switching to an Android phone. iPhone has already provided its users with the ability to send and receive text messages and e-mails through their Mac devices, and its productivity suite, iWork, is everything, a corporate user would want for all of their document related works.

But as Samsung has just joined its hands with Microsoft, to bring similar flexible features to its series of smartphones, it may be able to encourage the iPhone users to get Android smartphones.

Though the partnership between the two companies was big news, the event was solely to boast about the new Galaxy Note 10 series. The company talked about all the features that the new smartphones will possess. The company also revealed the price of the devices and when these will be available in the market.

The cost of the Galaxy Note 10 in India starts at Rs 69,999, while the starting price for Note 10+ will be Rs 79,999. The smartphones have already made available for pre-orders in the U.S. on selected online retail outlets, including Amazon, Flipkart, Paytm Mall, Tata Cliq and Samsung’s online store. The pre-orders in India will start on August 23. The company has also imposed offers like cash backs on the pre-orders.