The one who learned from his failures -Sriharsha Majety

Sriharsha Majety is the founder of esteemed food delivering company Swiggy. He collapsed with his friends to start a venture which got triumph ultimately due to the hard work of the trio. He heads the post CEO at Swiggy. 

Glance on him 

Sriharsha comes from a family of entrepreneurs thus the passion to become an entrepreneur was in his blood. Sriharsha was born in the year. He loves traveling. Majety was married at age of 35 to Neetha whom he met while traveling. Sriharsha traveled from Europe to Asia. He covered the distance from Portugal to Greece on a bicycle this indicates he was fond of cycling too. 

Sriharsha states that his habit of being stubborn has built his personality. He says that I was stubborn about doing things that excited me and was ready to commit myself to it. 

Educational Qualification 

He did his Electrical and Electronics Engineering and M.Sc. in Physics from BITS Pilani. After this, he cleared level II of the CFA program. Then he pursued PGDM in finance from IIM Calcutta

Steps to build a career 

Majety served Nomura International as Summer Analyst for a short period in 2010. After this, in 2011 he joined the London office of Nomura International where he provides his valuable services as an associate at the rate trading desk. But as he was curious to open his start-up, he left the job as well as came back to India to establish his own business. He was inspired by Phanidra Sama founder of Redbus. He was a personality whose venture inspired him to plunge into e-commerce.  

Failures 

When he returned to Indian soil, he met his mate from BITS Pilani Nandan Reddy. They both know we’re engaged in the idea to open their start-up. Then they thought to help e-commerce firms thus they opened a logistics aggregator company to help e-commerce platforms. They entitled the company Bundle Technologies. Bundle technologies were opened to facilitate courier as well as shipping services. But lacking at some facilitates as well as policies the company didn’t perform well thus, they had to quit. They decided to shut down the company because the efforts seemed to go nowhere. 

Steps to success 

They both didn’t lose hope, with the same spirit to excel, strong determination they both clinch another opportunity to facilitate food delivering services thus they formulated new ideas, this time they thought not to repeat the same mistakes they did earlier. 

Thus in 2014, they launched a new venture Swiggy from that day they never look back. At the time they established Swiggy there were numerous other food delivery sectors was competing such as Foodpanda, Ola café, etc. Now swiggy has attained the status of India’s largest online food ordering and delivery platform. Swiggy is Bangalore based company.

They then both added Rahul Jamini as a partner who serves the IT sector earlier. Thus, the trio expanded their company to a large extent. In Sept 2019 they too launched another venture of Swiggy go, which pickup or drop-off service instantly. The company built a large delivering network well as grew rapidly. 

In May 2020 Swiggy laid off 1100 employees during the Covid-19 pandemic. In Aug. 2020 the company launched its grocery delivery venture titled InstaMart. Swiggy too serves the country in march 2021 Swiggy set up a health hub across Chennai, Tamil Nadu. In June 2021, Swiggy, as well as ANRA technologies, joined hands together to introduce drone delivery trials in India. 

In 2015 company rose for investment. The first was a$2 million investment from Accel as well as sail Partner. In 2016 the company received $15 million from new as well as existing investors, including Bessemer Venture Partners as well as harmony partners. Many esteemed companies are Swiggy’s investors they are Naspers, DST Global, Norwest Venture Partners, Amansa Capital, SAIF partner, Goldman Sachs many more. 

Besides all these Swiggy has partnered with Burger King to provide delivery services. Along with this, it had done partnership with Google local Guide, Sodexo, Nidify technology. Swiggy has launched many facilities a digital wallet, Swiggy Money, in partnership with ICICI Bank. The company is doing so well, it is serving 300+ cities across India. 

Net worth of Sriharsha Majety

The company earns revenue of 2776 crore. In the year 2020, the company earned a profit of 3768. Moreover, in July 2021 Swiggy raised 1.25 billion USD, the company valuing at 5.5 USD, which is about to 40000 Cr. In INR. It is inducted that net worth of CEO. Mr. Majety could be 2000 cr. In September 2021 there were reports that Swiggy was to raise USD 500 million, the company valuing 10 billion USD. 

“Growth is about learning and evolving with the different variables and moving parts” 

     ~ Sriharsha Majety 

The Success Story of Sriharsha Majety makes the biggest impact on people’s life.

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