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Thursday, September 21, 2023

How IIT trio founded beauty brand with Rs 40 lakh, now worth Rs 8200 crore; giving competition to Falguni Nayar’s Nykaa

The Indian Institute of Technology (IIT) is among the most sought-after and premier engineering faculties of India, with college students at all times cooking up one thing new. Such is the story of Rahul Dash, founder and COO of India’s beauty platform Purplle.

Rahul Dash is a graduate of IIT Kharagpur and is the co-founder of Purplle.com, which is among the main beauty and vogue on-line platforms in India. His companions within the enterprise are Manish Taneja and Suyash Katyayani, additionally from IIT.

While Rahul and Suyash are graduates of IIT Kharagpur, Manish Taneja accomplished his engineering from IIT Delhi. (*40*) finishing his engineering, Rahul Dash joined IIM Ahmedabad and began working for Tata, the place he got here up with the concept for Purplle.

Rahul, Suyash, and Manish knew they needed to enterprise right into a startup collectively, however the furnishings market was too costly and Myntra and Jabongg had already established themselves as vogue manufacturers. Hence, they determined to head into the beauty discipline.

The IITian trio determined to pool of their financial savings – simply Rs 40 lakh – and founded Purplle.com. Despite their funding, their first month solely recorded Rs 45,000. However, their cosmetics platform quickly blew up, and have become certainly one of India’s unicorns.

Now, Purplle.com has coated a variety of floor, with the corporate changing into a unicorn, which implies that it’s valued at USD 1 billion, which roughly interprets to Rs 8200 crore. Earlier this yr, the corporate began by the IITian trio picked up USD 45 million in funding, this comes out to over Rs 368 crore.

As of now, Rahul Dash serves because the COO of Purplle.com, Manish Taneja is the CEO and Suyash Katyayani is the present CTO of the cosmetics platform. This platform can be giving robust competition to Nykaa, founded by Falguni Nayar, one of many richest girls in India.

READ | Mukesh Ambani’s daughter Isha Ambani to ink deal with Kiara, Suhana Khan to problem Nykaa, Tata Cliq, particulars inside

Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.

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