Ashneer Grover, the controversial former Managing Director of Bharat Pe, said in a tweet that it is time for him to create a third unicorn and disrupt another sector
As the entrepreneur celebrated his 40 th birthday on Tuesday, he announced that he will get back to business in a new sector. “Today I turn 40. Some will say I’ve lived a full life and experienced more things than most. Created value for generations. For me it’s still unfinished business. Time to disrupt another sector. It’s time for the Third Unicorn !!,” his tweet read.
Grover’s announcement comes months after he resigned from his position of Managing Director at Bharat Pe after a long tussle with the board. Previously, Bharat Pe’s board of directors had stripped him of his co- founder tag over alleged financial irregularities and governance issues during his tenure.
He had joined the fintech startup BharatPe in July 2018, when he was on-boarded by Bhavik Koladiya and Shashvat Nakrani, who had incorporated Bharat Pe. Later in August 2021, the start-up became a unicorn as it raised $370 million in its Series E round led by Tiger Global Management.
Prior to Bharat Pe, Grover had held the position of Chief Financial Officer (CFO) in instant delivery service startup Grofers (now Blinkit). Grofers too joined the unicorn club in 2021, after raising $120 million from food delivery company, Zomato.
As the well known entrepreneur aims to build a third unicorn, venture capitalists say, in today’s ecosystem as investors tread cautiously, unicorns will be identified on the basis of value they create as a business and not on the basis of funds raised. Only a fundamentally strong company, with a strong business and team, will be able achieve the unicorn status, they opined.
Published on
June 14, 2022
