Anupam Mittal, the Founder and CEO of People Group, on Friday shared an anecdote on his journey from a multi-millionaire in his early 20s to a man who had lost it all, only to bet everything on a venture which is known as Shaadi.com today.
In a viral LinkedIn post, Mittal shared a picture from the early days of his entrepreneurial journey and said that Shaadi.com was his 'all-or-nothing' investment.
Mittal, who became a multi-millionaire in his early 20s, had lost it all in the dot-com bubble of the 2000s.
“Back then, I was riding high as part of MicroStrategy that skyrocketed to a $40 billion valuation. Life in the US felt like a dream. So much so I even ordered a Ferrari. But as quickly as it came, it all vanished. The dot-com bubble burst, and with it, the money disappeared,” Mittal said, adding that he got into heavy debt.
By 2003, Mittal said, he was back in India with “nothing but the memory of winning - and losing big".
Back in India, Anupam Mittal decided to begin another dot-com venture, but this one was nothing like the others; there was only a limited amount he could dispense and losing it could mean losing everything.
“With the kind of audacity that only comes from losing it all, I set out to build another dot-com venture— Shaadi.com (amongst others such as makaan.com & Mauj Mobile). The domain cost $25,000, and we had only $30,000 left. It was an all-or-nothing move. People thought I was crazy. They questioned my business sense too,” Mittal wrote.
But as was fate, Mittal went all-in because he felt this could be the game-changer, and he turned out to be right.
“Somehow I found the courage to take that bold bet and that leap of faith, despite the criticism & naysayers, changed our fortunes,” he said.
Mittal, in his LinkedIn post said, to him, it was never about the money. “It was about proving to myself that I could rise from the ashes, that my spirit of entrepreneurship wasn’t tied to a single success or failure.”
Today, he said, he tries to carry that same mindset to everything he does.
"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. So, to the risk-taking professionals & founders out there - keep backing yourself. The game isn’t over until you win," Mittal said.
