One can succeed in their career by working hard and being passionate about it. Renowned universities like IIM have groomed a number of businessmen managing large corporations. VSS Mani founded the Indian "Google" out of a rented garage despite lacking any financial resources or business expertise.
With his company, Mani made things easier in this age of digital advancement where everything is just a click away. Today, Justdial, the company he founded, makes it easier for everyone to find the contact information for businesses such as restaurants, hotels, shops, mechanics, and electricians.
It could provide for every need that people may have. Mani produced an online directory. His business became so successful that Mukesh Ambani expressed interest in it as well.
Who is VSS Mani?
Hailing from Tamil Nadu, VSS Mani was born and raised in middle class family. He completed his studies at Delhi University. Afterwards, he was employed in sales. He had to work to provide for his family, but his goal was to become a chartered accountant. He founded AskMe, a company, in 1989. It failed to work. He launched a magazine for wedding planning in 1992, which eventually did not succeed.
Later on, he was employed by a business that was connected to phone directories and yellow pages. This gave him the idea to launch 'Justdial'. He used his personal savings to start the business. Mani's wife supported her husband by giving him jewelry to help him launch the business.
In the beginning, Just Dial was a phone service. Mani took advantage of the telephone liberalization policy of 1996, which simplified the process of obtaining a phone connection. Justdial grew in along with the rise in landlines. Justdial facilitates the connection between both buyers and sellers. In 2007, the company was valued at Rs 4000 crore. It resulted in an IPO.
Reliance Retail, owned by Mukesh Ambani, offered Rs 3497 crore in 2021 to acquire his 41% share in Justdial. Mani's shares were valued at Rs 1332 crore. He continues to lead the business as CEO.
Reliance Retail acquired 67 percent of Just Dial in 2021, including VSS Mani's shares. Reliance reportedly granted Rs. 2200 crore for the open offer, Rs. 1332 crore for Mani's stake, and Rs. 2165 crore for the new shares. At an estimated worth of Rs 8,500 crore, it offered Rs 5700 crore for the majority of the stake.
