Fynd is an online retailer of multi-category fashion products. Fynd's product catalog includes apparel, footwear, innerwear, jewelry, accessories, and more. Fynd was the first startup in India to directly raise a round from Google and exit to Jio!
Harsh Shah is one of the three cofounders of Fynd. At Fynd, he brings his valuable experience in technology and entrepreneurship to the table and oversees operations' supply side, including managing partnering brands and stores.
Harsh is an alumnus of the Indian Institute of Technology, Bombay, and an angel investor with a portfolio of 15+ startups.
In this episode, you will learn:
- How did Harsh convince his initial investors to invest in a startup catering to a small, price-conscious and hesitant audience in India? How did he leverage his alum network to kickstart Shopsense?
- What led to pivoting Shopsense into Fynd? How did he convince Shopsense investors to continue investing in the company's new path? How did he convince his investors to take a haircut on their investment?
- Why did Fynd become one of the 2 Indian startups to raise money from Google? What role did angels, family offices, venture capital funds, Google, and Reliance Jio play in Fynd's progress? How does a founder manage different investors on their cap table?
- Why did the founders decide to sell a majority stake to Reliance Jio? What is it like to work with one of the largest Indian corporate houses known for its petrochemicals business and not for its technology prowess? How did the founders convince all the different sets of investors to accept the offer? What did it feel like once the money hit the investors' bank accounts?
- How is Harsh giving back to the venture community? How many angel investments has he made? What is he looking for in the founders he wants to back? How can founders reach out to him? What is Harsh's advice for other founders that are just beginning their journey?
Harsh's Book Recommendations:
- A Little History of The World by E.H.Gombrich
- Range by David Epstein