Sandeep Aggrawal at the moment runs Droom, which sells previous vehicles, bikes and scooters in India and different international locations. (File)
Sandeep Aggrawal-backed firm Boundless Brands has raised 2.5 million {dollars} in a seed funding spherical. He is the one tech entrepreneur to have created two unicorn startups, which suggests privately held corporations with a valuation of over 1 billion {dollars} (Rs 8200 crore by present trade charges). However, he has had a curler coaster life. He misplaced his first firm after he was arrested within the United States by the Federal Bureau of Investigation. Then he was concerned in a messy divorce with spouse. He, nevertheless, did not lose hope. He created one other unicorn, and later, was exonerated within the monetary crime case by a US courtroom.
Sandeep Aggrawal based ShopClues. It was the thirty fifth entrant within the nation’s e-commerce panorama however grew to become the fifth Unicorn within the client web sector. He shaped the corporate at his home in California in 2010. He moved to India to run it in August 2011.
Before beginning his entrepreneurial journey, he labored for 14 years on Wall Street as a analysis analyst. He labored with corporations like Citigroup, Oppenheimer and Collins Stewart. He was the highest ranked analysis analyst.
He at the moment runs Droom, which sells previous vehicles, bikes and scooters in India and different international locations. The valuation of the corporate is 2 billion {dollars} or Rs 16400 crore.
He did his MBA from Washington University’s St Louis Olin Business School. He did his masters in finance from Devi Ahilya Vishwavidyalaya and graduated from Kurukshetra University.
His life, nevertheless, hasn’t been easy.
Shopclues was rising at a quick velocity when his life modified ceaselessly. He was within the United States for trip along with his household when the FBI arrested him. He was charged with insider buying and selling when labored at an organization within the United States.
He was pressured to remain within the US, away from the household, and battle the case. He remained in a jail with a smelly bathroom. He remained in America for over a 12 months, juggling between the FBI and his work at Shopclues. He managed every little thing remotely. However, his buyers did not just like the association. They blamed every little thing improper with the corporate on his precarious state of affairs. He stepped down because the CEO of the corporate and handed the reins of the agency he constructed to his pal. He confronted jail time. He was allowed to return to India in August 2014 as his judgement obtained delayed. In 2020, expenses towards him have been dismissed. However, he was already punished for the crime he by no means dedicated — he misplaced his firm. In 2019, Shopclues was bought by an organization for round 100 million {dollars}.
The identical 12 months, he shaped Droom. He raised 16 million {dollars} inside a 12 months. Over the subsequent three years, he raised 90 million {dollars} in a number of rounds.
His firm was rising however his private life took a success along with his divorce along with his spouse of 17 years.
He did not let private issues have an effect on him.
His second firm additionally grew to become a unicorn and is without doubt one of the most profitable within the auto-tech house.
He has married for the second time.
In an interview, he had stated that he would not have survived the ordeal if Droom wasn’t there in his life. He stated the corporate grew to become his solace at a time when his household had break up and he was dealing with jail time.
