Ashneer grover

BharatPe co-founder Ashneer Grover has shed some light on his new startup, Third Unicorn. In a LinkedIn post, Grover, who announced the startup on his 40th birthday in June last year, gave a sneak peek of the new venture, and said a team of maximum 50 people will work in the company. Ashneer Grover was one of the judges on the first season of Shark Tank India. Also Read | ‘Maintain decorum’: Delhi HC to Ashneer Grover’s counsel over social media posts On completing five years in the company, employees will be gifted a 'Mercedes-Shercedes,' he added. “Let's get some work done in 2023 ! We at Third Unicorn have been quietly and peacefully building a market shaking business. Bootstrapped. Without limelight. And we are doing things differently. Very differently. So if you want to be part of the next TODU - FODU thing, here's a sneak peek on HOW we are building ! WHAT we are building remains the billion dollar question !,” wrote the former ‘Shark’ in his LinkedIn post. Ashneer Grover's post on his new startup (Image courtesy: LinkedIn) The entrepreneur asked venture capitalists (VCs) to stay away from investing in Third Unicorn, adding that the startup will not have any ‘BOARD-SHOARD.’ The company, he said, is for those who want to build ‘BIG-SHIG.’ Also Read | ‘Suhail Sameer was a nalla’: Ashneer Grover on resignation of BharatPe CEO People interested in coming onboard can drop a mail on [email protected]. In March 2022, Grover resigned as Managing Director of BharatPe. H...

• • • • Ashneer Grover decided to leave a corporate job within 15 minutes, here’s why Ashneer Grover decided to leave a corporate job within 15 minutes, here’s why Shark Tank India fame Ashneer Grover also revealed how he got his first investment of Rs 2 crore and how he was confident that he can return the amount irrespective of his business' success. Former Shark Tank India judge Ashneer spoke to ETimes during the promotion of his book “I went for the job. Then on the first day, that silence in the office bothered me. In my office, we used to fight for a chair. Here everything was set. In a startup, the average age was 24-26-years-old and here the average age was 40. Those 15 minutes were enough for me to quit my corporate job,” the entrepreneur shared. Also read | Ashneer also revealed how he got his first investment of Rs 2 crore and how he was confident that he can return the amount irrespective of his business’ success. He said, “Initially, I had no money so I borrowed Rs 2 crore from my friends and family at the valuation of Rs 18 crore. In today’s date, even a college student wouldn’t invest at that valuation. The only reason why I took Rs 2 crore is that if something happens, I will sell my Malviya Nagar home and return the money.”

A short history of events that led to Ashneer Grover’s resignation from BharatPe BharatPe co-founder Ashneer Grover has been embroiled in a controversy since an audio clip that is allegedly of him abusing an employee of Kotak Mahindra Bank was leaked online in January. March 04, 2022 12:03 pm | Updated 12:03 pm IST The story so far: Fintech company BharatPe on March 2 removed co-founder Ashneer Grover from all positions of the company, accusing his family of extensively misappropriating the company’s funds. BharatPe said that external advisors had reviewed the company’s internal controls, and Mr. Grover resigned shortly after he was informed that these findings will be presented to the company’s Board. The Grover family’s alleged misappropriation of funds included creating fake vendors to siphon money away from the company’s expense amount to fund lavish lifestyles. BharatPe removes Ashneer Grover from all positions at company In his resignation letter, Mr. Grover said that he is being “vilified and treated in the most disgraceful manner”. He also added that the company’s investors have treated the founders as “slaves”. Mr. Grover resigned from his posts of managing director and a director of the board but added that he will continue as the “single largest individual shareholder of the company”. How did it all start? Early in January 2022, an audio clip allegedly of Mr. Grover abusing an employee of Kotak Mahindra Bank for failing to secure funds to buy shares of Nykaa dur...

In a video that went viral, former BharatPe MD Ashneer Grover said that the tax system in India is skewed and paying taxes in the country is like a 'punishment' with government taking away 30-40 percent of the salaried people's income without any tangible benefits. "Taxpayers are doing charity in the country. They are not getting any benefits," Grover said. "You tell me one thing, when you know that I will earn Rs 10 and out of which, Rs 4 will be kept by the government, then out of the 12 months, you are working for the government for five months. Now in your life, how many years you have to be a slave for the government... and we have all accepted the way things are: It is the way it is,” Grover added. The former Shark Tank India judge further explained that since entrepreneurs understand this, they do not pay taxes, while salaried employees are not left with any option because the tax is deducted directly at source as TDS. Income Tax Payers Pays upto 18% GST too on spends after paying 10-35% Taxes They Contribute to Nation Building But this is also Harsh Reality In another viral video, Grover expressed his intention to prioritise the reduction of income tax rates in India if he ever becomes a politician. Grover further emphasised that if the tax rate is uniformly set at 10-15 percent for all individuals and stringent measures are implemented to prevent tax evasion, the government would ultimately generate higher tax revenues. “India is a country where you need to ex...

Some call him rude, some call him honest, but Ashneer Grover, MD and co-founder, BharatPe, couldn't care less about what others think of him. In his own words, "I'm not here to please anyone. Dhandha karne aaya hun (I'm here to grow my business)." Well, he clearly has done that and how! Founded in 2018 by Grover and Shashvat Nakrani, the merchant payments startup boasts of launching India's first interoperable UPI QR code, to offer a single interface for all existing UPI apps, supporting Paytm, PhonePe, Google Pay, BHIM, Mobikwik, Freecharge, TrueCaller and other apps through its service. Also, the startup is backed by marquee investors such as Tiger Global, Dragoneer Investment Group and Steadfast Capital, among others. Furthermore, within three years of its launch, BharatPe entered the coveted Unicorn club in August 2021 after raising $370 million at a $2.85 billion valuation. The company became the fifth fintech startup in 2021 to achieve the Unicorn status and in the next four years, Grover envisions the company to at least grow 10 times on an overall company basis. Merchants First According to Grover, at the core, BharatPe will always be merchants first. "If it is not adding value to merchants, I will not do it," Grover tells us candidly. Going ahead also, 80 per cent of BharatPe's business will be the core, that is merchant lending, but much bigger and deeper merchant lending, which means auto loans and home loans. "I understand the merchant, I understand his needs a...

New Delhi: Ashneer Grover, the co-founder of digital payments company BharatPe whose bitter feud with the company led to headlines about the unravelling of a "start-up king" last year, has been named in a police complaint for embezzling crores of rupees. The Economic Offences Wing of the Delhi Police has filed a first information report (FIR) against Mr Grover, his wife Madhuri Jain Grover, family members, and others for allegedly committing various crimes involving fraud, forgery, cheating and breach of trust. The FIR, which includes eight counts of serious criminal offences, was registered on Wednesday based on a criminal complaint filed by BharatPe in December, which accused him of stealing company money to fund a flamboyant lifestyle. Mr Grover, who has since floated a fantasy sports app called CrickPe and shaped his career with abrasive appearances on podcasts and reality television shows, is yet to comment on the charges. In the past, he has denied any wrongdoing. Alleging the charges stem from "personal hatred and low thinking", he had said, "The only thing lavish about me is my dreams and ability to achieve them against all odds through hard work and enterprise." On Thursday, Mr Grover posted a cryptic tweet after the charges were announced. Just another day in paradise ! The FIR accuses Ashneer Grover and others of criminal breach of trust, criminal conspiracy, cheating, dishonesty, and forgery. If found guilty, they could face life imprisonment. The filing comes ...

Ashneer Grover was the Managing Director and Co-founder of BharatPe, until February 28, 2022, when he had to resign and renounce his positions in the company. He co-founded the company along with Shashvat Nakrani in 2018. Within four years, they have turned BharatPe into one of the largest used payment apps in India. BharatPe founder Ashneer Grover was also seen on the judging panel of the Shark Tank India reality show. His net worth is around INR 700 crore. Though Ashneer Grover had a good start in terms of education, career, and business, he also faced multiple challenges in the journey. This article discusses the complete story of Ashneer Grover right from his early life and career to the controversies and challenges faced by him recently. Ashneer Grover - Biography Name Ashneer Grover Born 14 June 1982 Birth Place Nationality Indian Education IIT Delhi and IIM Ahmedabad Position Ex-Founder and MD, BharatPe Net Worth Rs 700 crore Ashneer Grover - Personal Life Ashneer Grover was born in Delhi on June 14, 1982. His father was a Chartered Accountant and his mother was a teacher. As his parents were in good professions, the family was doing well. He got graduated from Ashneer Grover was married to Madhuri Jain Grover. She’s an entrepreneur and owns a furnishing business named Mauve and Brown in Delhi. Ashneer Grover's wife, Madhuri Grover had taken care of HR, finance, and other internal operations and headed the Controls at BharatPe before she was declared to be one of th...