sanjeev bikhchandani zomato

Sanjeev Bikhchandani is an Indian Internet Entrepreneur, who founded a pure play firm, Info Edge (India) Limited in 1995. “If Info Edge were to liquidate Policybazaar and Zomato at current valuations, it will make 35% IRR,” he says. Biography. Sanjeev Bikhchandani recognized the potential and started with Indian job search engine “Naukri.com” in 1997. When I met Deepinder I found myself on the defensive at first because this was an entrepreneur who had a competitive offer on hand. Online food delivery and restaurant discovery platform Zomato has acquired the Indian operations of Uber Eats in an all-stock transaction that will give the US-based Uber 9.9% shareholding in the Gurgaon-based company. In 2007 itself, they identified the need and role of the data … The stock jumped 8% last week, the most since July, amid a broad equity rally in India. ET NOW's Nayantara Rai caught up with Sanjeev Bikhchandani, founder and executive vice chairman of Info Edge India, second largest shareholder of Zomato on the $350 millions of UberEats deal. The Noida- headquartered company has launched its maiden venture capital fund, dubbed Info Edge Venture Fund or IEVF, it said in an exchange filing on Thursday. It didn’t. There was also a negative external perception of Sequoia at the time, given a lot of 'biased' stories I had heard from other entrepreneurs. We were introduced to Zomato by Sanjeev Bikhchandani, founder at Naukri where Sequoia had been an investor. Info Edge, which owns popular jobs classifieds platform Naukri, said it … I liked his bias for action, but wasn't sold just yet. One way of building that trust was for Sequoia to execute really fast to show him that we are a like-minded partner. Just four days after we first met Deepinder, we decided that this was a company Sequoia should invest in. Your Reason has been Reported to the admin. A lot of our people were already engaged in our current businesses and were stretched for bandwidth. Sanjeev Bikhchandani, Founder, Info Edge on what that means for the long-term investor in Zomato. To give you an example - we were in the process of launching our online ordering business in India and were working on a very strict timeline. Tomorrow is different. Painfully enough, we met at 7 am the next morning at our office. Deepinder and Mohit tell the story of how the partnership came about. Internet entrepreneur Sanjeev Bikhchandani says an estimated Rs 17 lakh crore of market cap has been transferred abroad after young Indian start-ups were forced to shift their company domicile overseas by foreign investors promising the funds they need for growth Naukri.com has acted as an early adopter of technology for years. Also, since he didn’t know Sequoia well, he was skeptical about our ability to be nimble and agile to close the investment quickly given he was already in advanced conversations with the others. At the time of our initial conversation we were already leaning strongly towards the space as well as the company. Entrepreneurship, Business Leaders Motivational, Thought Leaders . Sanjeev Bikhchandani Founder, Info Edge. Directors of Zomato Private Limited are Zheng Liu, Deepinder Goyal, Kaushik Dutta, Douglas Feagin, Guoming Cheng, Sanjeev Bikhchandani, Mohit Bhatnagar Anand, . Info Edge also owns web sites like Jeevansathi.com, 99acres.com, Brijj.com, Naukrigulf.com, Shiksha.com, Quadrangle and Firstnaukri.com At the time however Deepinder did not know us as well enough and we had to convince him that Sequoia was the right partner for Zomato. Internet entrepreneur Sanjeev Bikhchandani says an estimated Rs 17 trillion of market cap has been transferred abroad after young Indian start-ups were forced to shift their company domicile overseas by foreign investors promising the funds they need for growth. Prior to meeting with the team at Sequoia, I had heard of certain experiences that other founders had with them, however I hadn't heard Sequoia's side of those encounters. Copyright © 2021 Bennett, Coleman & Co. Ltd. All rights reserved. https://www.sequoiacap.com/india/company-story/zomato-story (Discuss) Proposed since July 2020. Internet entrepreneur Sanjeev Bikhchandani New Delhi: In perhaps the first red flag by a significant start-up curator against 'flipping', a Naukri.com and Zomato investor has said foreign funds are the new East India Company that are colonising successful start-ups in India by transferring ownership overseas to skip Indian regulations and taxes. Info Edge co-founders: Sanjeev Bikhchandani (left) & Hitesh Oberoi (right) ... Info Edge’s venture capital investments in Policybazaar (online insurance aggregator) and Zomato (online food and grocery aggregator) are the jewels in its Rs.500-billion market cap crown. Well, that just means there is always scope to do better for ourselves and our investments. He was given the Padma Shri Award, the fourth Highest civilian award in India, in January 2020. He along with his partner won the “Ernst and Young – Entrepreneur of the Year” award in 2008 for Business … Deepinder is an ambitious, quick thinking and quick acting founder who always speaks his mind (love him for this)! Following this we camped out at the Zomato office – going through the rigorous pre-investment process with a large team to complete all legal, finance and business diligence. It was all done in about ten days. Source: Company’s Annual Report 2019-20 . He was recently named as one of the recipients of the Padma Shri award. Choose your reason below and click on the Report button. The company owns an online job portal Naukri.com, a matrimonial website Jeevansathi.com, a real estate classfields platform 99Acres.com and an educational website Shiksha.com.He is the co-founder of Ashoka University, located in Sonipat, Haryana, India.In January … Zomato was a company that we were tracking closely from the outside. ET NOW's Nayantara Rai caught up with Sanjeev Bikhchandani, founder and executive vice chairman of Info Edge India, second largest shareholder of Zomato on the $350 millions of UberEats deal. When we got the first email from Sequoia expressing interest we already had a term sheet from an investor and weren't really looking for another investor. I remember telling Mohit candidly that, as far as I was concerned, Sequoia would have to move up from my current rating of ‘1’ on a ten-point scale in a very short period of time to make the round happen. 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Zomato’s revenue is expected to return to pre-Covid levels in one or two months while revenue from IT companies’ recruitment on Naukri.com has rebounded, Sanjeev Bikhchandani, Info Edge’s vice chairman and founder, said on a call with analysts last week. He had heard some one-sided viewpoints about Sequoia and its working style. Zomato aims to help consumers discover great places to eat across the globe. Zomato clocked in 60% and 35% higher gross merchandise value (GMV) on New Year’s Eve and Christmas in 2020 respectively, compared to the previous year, CEO Deepinder Goyal said on Twitter. I grabbed coffee for everyone on my way to the office :-). Sanjeev Bikhchandani said that foreign funds are the new East India Company that are colonising successful start-ups in India. Info Edge bought into … Internet entrepreneur Sanjeev Bikhchandani NEW DELHI: In perhaps the first red flag by a significant start-up curator against 'flipping', a Naukri.com and Zomato investor has said foreign funds are the new East India Company that are colonising successful start-ups in India by transferring ownership overseas to skip Indian regulations and taxes. Indian internet pioneer, Sanjeev Bikhchandani, draws his wealth from listed Info Edge (India). ALSO READ. Listen-in!!! This will alert our moderators to take action. He … We share a common vision and values and we look forward to backing great entrepreneurs in India together.” said Sanjeev Bikhchandani, Founder and Executive Vice Chairman of Info Edge. Internet entrepreneur Sanjeev Bikhchandani says an estimated Rs … Zomato on Tuesday announced that it has acquired Uber's Food Delivery Business in India in an all-stock deal and Uber will have 9.99 per cent stake in the Deepinder Goyal-led food delivery platform. He immediately sent out an email across Sequoia asking people if they could chip in to help us outside of handling their regular work. I wasn't initially convinced that they would meet us halfway. Mohit took the time to explain Sequoia’s position in each of those cases and it made sense. Along with his partner, Mr. Hitesh Oberoi, he won the Ernst and Young – Entrepreneur of the Year award in 2008 for Business Transformation. After backing a slew of startups, including Zomato and PolicyBazaar, Sanjeev Bikhchandani-led Info Edge has formally entered the venture capital business. My biggest take away from early conversations with Mohit was that there are always two sides to any story - what you believe in is totally your choice and conviction. And while I candidly tried to allay his fears I also felt it was important to gain his trust by our actions. Sanjeev Bikhchandani, a Naukri.com and Zomato investor, has said foreign funds are the new East India Company that are colonising successful start-ups in India by transferring ownership overseas to skip Indian regulations and taxes. Currently, this brand is a clear market leader in the recruitment industry with a traffic share of more than 70%. I was given to understand that Sequoia wouldn't interfere in a company unless something was going wrong or if someone does something unethical. Eventually, the rating became a bit of a joke, but he only ever gave us a highest score of 8 out of 10. A few people volunteered immediately and came over to our offices where they camped it out with us for the next few weeks to give our online ordering business an amazing standing start. As long as the team is working to a plan and being consistent, Sequoia would get you what you want and not mess with stuff. Given the stage of the conversation we were at with the other investor, Mohit was the one who had to pitch Sequoia to us, not the other way around. In general, I think the team and the people at Sequoia are their biggest strength. 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Sanjeev Bikhchandani, Founder and Executive Vice Chairman of Info Edge. Sanjeev Bikhchandani is an Indian businessman, who is the founder and executive vice chairman of Info Edge which owns Naukri.com, a job portal, as well as the co-founder of Ashoka University. Info Edge launched IEVF in January this year as an INR 100 Cr fund, as per Sanjeev Bikhchandani, the founder of the company. When Mohit asked if we could meet the next day, I gave him a 7 am time slot hoping it would deter him. Sanjeev is the Co-Founder of Naukri.com, 99acres.com, Jeevansathi.com, and an investor in promising start-ups like zomato, policybazaar.com, meritnation.com, etc. Mr. Bikhchandani’s work experience includes an advertising position at Lintas India Limited, a marketing position at HMM Limited (now known as Glaxo SmithKline), and a senior management position at CMYK Printech Private Limited (owner of The Pioneer newspaper). I called Mohit and said, “We need people; how many good people can you spare for Zomato and for how long?”. We even put a scorecard in place to check his rating of us on a daily basis. Yes, they moved very fast. Let's reshape it today, Hunt for the brightest engineers in India. Sanjeev Bikhchandani is the Co-Founder and the Vice Chairman of Info Edge, the owner of Naukri.com India’s largest job portal. , that just means there is always scope to do better for ourselves and our.. On the Report button given the Padma Shri award, the most since July, amid a equity! In to help consumers discover great places to eat across the globe a 7 am the next day I! Our initial conversation we were already engaged in our current businesses and were stretched for bandwidth backing slew! Since July, amid a broad equity rally in India with Indian job search engine Naukri.com... I found myself on the defensive at first because this was a company that were! 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