Sandeep Aggarwal, the founder of two successful Indian Start-ups
Sandeep Aggarwal has a net worth of approx 3,000 crores in INR and is an Indian entrepreneur and founder of two start-ups – Shopclues and Droom Technologies Pvt Ltd. He is also an active angel investor and invests in startups through his firm Digital Route.
Table of contents
- Introduction about Sandeep Aggarwal
- Early Education & Before Shopclues
- Launch of Shopclues
- Launch of Droom
- Sandeep Aggarwal’s Net Worth
Entrepreneurship in India is experiencing a great revolution recently. It is the young Indian minds and their untamed passion that are making history in 21st-century economy. Nevertheless, it is not always the young minds, as it is known that life experiences make you savvier. One such entrepreneur is Sandeep Aggarwal, who has successfully launched two start-ups, Shopclues and Droom, and is now one of the most influential businessmen in the world.
It took him almost four years to get his dream of Shopclues off the ground, but in July 2011 he founded it followed by Droom in April 2014. Initial operations took place in Silicon Valley, and then it was moved to India. He faced many difficulties, in addition to completing his master’s degree, he interned with Kotak Mahindra in Mumbai.
Following school, Aggarwal earned a bachelor’s degree in business management and a master’s from Indore. While doing his master’s, he also interned with Kotak Mahindra, Mumbai.
Sandeep Aggarwals’s First Step into the Professional World
He first stepped into the professional world when he landed an internship at Kotak Mahindra in 1995. His internship was in Mumbai, where he had the chance to interact with intelligent minds and learn from them. This internship perfectly prepared him for the world of people and professional work. The majority of us might possess the necessary skills and knowledge, but very few can present them professionally. Aggarwal, in one of its interviews, said that this internship also helped him develop his analytical skills and strategic thinking, in addition to business communication.
Sandeep Aggarwal worked in investment banking after completing his master’s degree. His decision to move to the US was a result of something that happened while he was working there. After obtaining an MBA degree from Washington University, St. Louis, USA, he worked for two different companies. A few years later, he joined Wall Street and worked as an analyst for eight years, covering companies such as Amazon, Google, Microsoft, Yahoo!, etc. Aggarwal is also a charter member of TiE Silicon Valley.
During Aggarwal’s time as an internet analyst, he visited India quite a bit in 2010 to launch MakeMyTrip’s research coverage. He had the idea of launching an online marketplace at that time. Originally, he wanted to create DealsClues.com, but settled for Shopclues.com which was founded in 2010 in Silicon Valley.
The launch of Shopclues
He started his new business in Delaware with Radhika Ghai Aggarwal, Mrinal Chatterjee and Sanjay Sethi (Sandeep Aggarwal’s ex-wife). In September 2011, the team moved to India and permanently settled in Gurgaon. Aggarwal raised $1.95 million from his social circle at the beginning of Shopclues.
The public beta version of Shopclues was released on 26th January 2012, and by the following month, the team size had grown to 25 members from only three or four. Alexa ranking dropped from 14,000 to 200 only in August of the same year. With more than 2 million visitors monthly, the company started making jaw-dropping profits.
As of January 2013, Shopclues became India’s fifth largest online retailer, and the Alexa ranking has dropped to 90. The business was progressing well, until he found legal charges filed against him in July 2013 regarding his time as an internet analyst on Wall Street. According to Sandeep Aggarwal, it was a time of sheer crisis in his life, and it almost took him a year to get back on track. There was no choice but to stay away from the press and any formal role at Shopclues. His family suffered as well. Currently, Shopclues, his first company, is worth $1.1 billion and it serves as the biggest online retailer in India.
Founded in April 2014, Droom was the first online platform for selling and buying automobiles (used and new) and related services. With more than 75 years of experience in technology, Droom’s founders are very strong. The company raised $16 million in Series A funding led by Lightbox only after a year since founding.
Even today, it is the most trusted automobile platform in India.
Sandeep Aggarwal, the founder of two successful Indian Start-ups, is a well known businessman and an angel investor in the investors’ fraternity.
Some more facts about Sandeep Aggarwal | Net Worth | Education | Start-up Investments
|Full Name||Sandeep Aggarwal|
|Net Worth (In Indian Rupees)||Approx 3,000 Crores|
|Start-ups Founded||Shopclues in 2010, Droom in 2014|
|Earlier Life||Wall Street Analyst in San Francisco|
|Place of Birth||Chandigarh|
|Books Written||Fall Again Rise Again (autobiography of Sandeep Aggarwal)|
|Current wife||Upasana S Aggarwal|
|Children||Ahaan Aggarwal and Arjit Aggarwal (2 Sons)|
|School||SD Modern School in Karnal|
|Post Graduation||Masters in Finance – Devi Ahilya University Indore/ MBA from Washington University|
|Start-ups invested in||Dekoruma, Wydr, Shopsity, Data Guise, Give Club, Duriana, Curo Healthcare, WittyFeed, Junoon and influencer marketing startup ClanConnect.ai|
Also Read – https://indianbusinesstimes.com/2021/07/06/jabong-co-founder-praveen-sinha-on-startup-investment/
Sandeep Aggarwal successfully built ShopClues as the 5th Unicorn in Consumer market.