Anupam Mittal who is the founder of Shaadi.com shares his journey of losing his fortune in the dot com crash.
Anupam Mittal who is the founder of Shaadi.com and a well-known entrepreneur featured on the popular show Shark Tank India, recently shared his journey of rising, falling, and rising again. He recounted how he became a multi-millionaire in his early 20s, only to lose everything during the dot com bubble crash of the early 2000s. His story serves as a lesson in resilience for aspiring entrepreneurs.
The dot com bubble was a period in the late 1990s and early 2000s when internet-based companies rapidly grew in value as the World Wide Web became more widely adopted. This led to a boom in the startup world, with many people becoming millionaires almost overnight. However, when the bubble burst, it caused a massive downturn in the market, leading to the collapse of many startups.
Mittal shared his personal experience during this time. He recalled how he was living the dream in the United States as part of MicroStrategy, a company that soared to a $40 billion valuation. He even ordered a Ferrari, feeling like he had made it. But when the dot com bubble burst, all of his wealth vanished, and he found himself in heavy debt. The rapid rise and fall left him with nothing but memories of both great success and devastating failure.
In 2003, Mittal returned to India with little more than his experiences. Instead of giving up, he decided to take another shot at the dot com world by launching Shaadi.com, along with other ventures like Makaan.com and Mauj Mobile. At that time, buying the domain for Shaadi.com cost $25,000, leaving him with only $30,000 in total. It was a risky, all-or-nothing move, and many people questioned his decision. Despite the doubts and criticisms, Mittal believed in his vision, and this time, he was right. Shaadi.com became a huge success, proving his naysayers wrong.
Mittal emphasized that his journey wasn't just about money. It was about proving to himself and others that he could rise from failure and continue to push forward. He explained that his "spirit of entrepreneurship" wasn't tied to just one success or failure. This mindset continues to guide him in all his ventures today.
He shared a message for fellow entrepreneurs and risk-takers, urging them to back themselves even when the odds seem against them. "Success isn’t about going along with the popular opinion. It’s about walking in the other direction of the crowd and hopefully being right," he said. He encouraged others to keep pushing forward, reminding them that the game isn’t over until they win.
Today, Shaadi.com is one of India's leading online matrimonial services, offering community-specific platforms such as TamilShaadi.com, TeluguShaadi.com, and BengaliShaadi.com, among others.
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