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sujeet-kumar-udaan

Sujeet Kumar

Founder
Quit Job to Start
Doesn't Code
Founded:
Udaan
Year of founding:
2016
Current age:
39
Net worth:
$460mn

1. Background

Education: BTech in Civil Engineering

College: Indian Institute of Technology, Delhi

Previous Career:

- 2007 to 2015: Sujeet Kumar served as the President of Operations at Flipkart.com

- Sujeet Kumar consulted for 3 months for Tiger Global as angel investors helping investor's portfolio companies

2. Origin Story

The Background

While working at Flipkart, Sujeet Kumar and his colleagues Amod Malviya & Vaibhav Gupta, noticed a trend in Indian consumer market - high digital adoption rate & mobile phones becoming a necessity rather than an asset. Despite the surge in digital adoption rate, the purchasing power of Indians (esp. the broader middle class) was still low. There was a constant need that motivated Kumar to solve this core problem that Indians were facing.


The Spark

Very few companies back then focused on solving the problems of India's domestic trade economy. Manufacturers, retailers, traders, wholesalers and every small business owner faced problems in terms of sourcing quality goods, payments, logistics and service credits. Sujeet Kumar understood the logistics aspect of the businesses because of his past experience, where he was involved in building e-kart, the supply chain system for Flipkart from the ground up. Interestingly, Kumar points out that the B2C model of Flipkart differs a lot from the B2B model of Udaan in terms of nature of transactions. The idea was to create a platform that could be a level playing field for small business owners originating from small towns, and giving them the opportunity to realize their entrepreneurial dream.

The Launch

In late 2016, Sujeet Kumar, Amod Malviya and Vaibhav Gupta launched the beta version of Udaan, announcing a Series A fund-raise of $10 million at the same time. A wider launch took place on June, 2017 when company had curated enough users.

3. Other interesting points

- The name 'Udaan' was decided by specifically keeping in mind that the product and service catered to Indian SMEs. (Udaan means 'Flight'). Metaphorically equivalent to freedom to explore and live to the full potential.

- Sujeet Kumar appeared for the UPSC exam twice, but did not clear it.

4. Quote

"It isn’t a journey of how we achieved unicorn status. Behind the 26 months, there was eight years of different people’s efforts" - Sujeet Kumar

5. Company growth & sources (links)

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