Here's all you need to know about the online food delivery platform, Swiggy's co-founder and CEO, Sriharsha Majety, from failing at his first startup to building an Rs. 87,500 crores company.
Swiggy is one of the most used, known, and popular online food ordering and delivery platforms in India. The app proudly originated in India and has become one of the most profitable business ideas in recent decades. Since its establishment in 2014, Swiggy has become a household name, with so many people dependent on the app for their daily meals. The company’s headquarters are situated in Bangalore.
As of September 2021, the platform expanded its services to over 500 cities across India, which speaks volumes about Swiggy’s gigantic success in the online food delivery platform. While the app was primarily known for its food delivery service, Swiggy stunned everyone when it ventured into on-demand grocery deliveries. For the unversed, under the name of Instamart, Swiggy offers on-demand grocery deliveries. Additionally, Swiggy Genie is also there for same-day package delivery service, and both services have been quite successful.
Sriharsha Majety is one of the few entrepreneurs in the business world, who prefers to live a low-key life. Despite being the co-founder and CEO of one of the biggest food delivery services, Swiggy, there isn’t much detail about his background in the public domain. In his interviews and press conferences, Sriharsha always talked about business and kept his personal life under wraps.
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Talking about the minor details available on the internet about Sriharsha Majety’s family background, the entrepreneur hails from a family of entrepreneurs in Andhra Pradesh. As per multiple sources, while Sriharsha’s father used to own a restaurant, his mother was a doctor. The entrepreneur comes from a financially sound family.
Talking about the educational background of Swigy’s CEO, Sriharsha Majety, the billionaire businessman went to the esteemed Birla Institute of Technology and Sciences (BITS) in Pilani, Rajasthan, far from his home in Andhra Pradesh. After completing his Bachelor's in Engineering (BE) and Master's in Science (MSc) at BITS, Sriharsha made a surprising choice to take a break instead of pursuing traditional campus placements. While many thought that it was a stupid move, Sriharsha knew that it was a calculated decision.
Going ahead with his move, Sriharsha Majety dedicated himself to clearing Level 2 of the CFA Program, showcasing his determination and commitment to his personal growth in terms of knowledge. Following his break, Sriharsha joined the prestigious IIM Calcutta, where he continued to expand his knowledge and skills to make an impact in the business world.
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After spending some time in foreign, Sriharsha Majety teamed up with his college friend, Nandan Reddy, in order to build something. Both youngsters were particularly intrigued by the thriving success of the e-commerce industry in India. The vast potential within the logistics and shipping sector attracted Sriharsha and Nandan, and as a result, they launched Bundl, an aggregator for courier services.
However, the absence of a technical co-founder in the company was a major factor behind its failure. Despite Sriharsha Majety and Nandan Reddy’s best efforts, Bundl was closed within a year. Although it was a significant failure for both aspiring entrepreneurs, it became a much-needed reality check for them and became a key factor in Swiggy’s success.
Motivated by the remarkable success of Ola and Uber, Sriharsha Majety and his batchmate, Nandan Reddy were pumped up to kick-start their second entrepreneurial journey. However, this time, they were focused on the massive potential in the hyper-local food delivery market, leading to the birth of one of India’s leading companies, Swiggy.
However, this time around, they corrected their mistake by joining hands with Rahul Janimini, who is a talented coder and helped them develop a solid platform for them. Swiggy had a modest start as it was started in a small office in Bangalore in August 2014. However, their dedication and innovative approach garnered attention, making Swiggy one of India's most successful business ventures. As per the latest reports, Swiggy’s valuation is around the estimated sum of Rs. 87,500 crores.
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Swiggy’s co-founder, Sriharsha Majety is married to Neetha Majety. Not much is known about Sriharsha’s wife, as she prefers to stay away from the limelight. If the reports are to be believed, the couple has no children as of now.
Talking about Sriharsha Majety’s net worth, as per multiple reports, the billionaire businessman has an estimated net worth of Rs. 1400 crores.
After failing in his first startup, Sriharsha Majety’s incredible success with Swiggy is what business is all about. What are your thoughts on his inspirational journey? Let us know.
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