Deloitte Consultant Sparks Debate: Should Unprofitable Ventures Be Celebrated?
A social media post by Deloitte Senior Consultant Adarsh Samalopanan sparked a heated debate about celebrating unprofitable ventures. Samalopanan questioned the praise given to CRED CEO Kunal Shah, who has been incurring losses for over a decade. Shah responded, asserting that risk-taking entrepreneurs should be lauded regardless of profitability.
Samalopanan's post highlighted Shah's entrepreneurial journey, which began with Freecharge in 2010. Despite generating Rs 35 crore in revenue by 2015, Freecharge incurred Rs 269 crore in losses. However, it was acquired by Snapdeal for Rs 2,800 crore, and later sold to Axis Bank for Rs 370 crore, indicating its potential value.
Shah launched CRED in 2018, which has posted cumulative revenue of Rs 493 crore over seven years. Yet, it has incurred net losses of Rs 5,215 crore, raising questions about its sustainability. Some users defended Shah's long-term vision and impact on digital payments, while others expressed concerns about profitability.
The debate surrounding Shah's entrepreneurial journey underscores the complex nature of evaluating success in startups. While some celebrate Shah's risk-taking and impact, others question the sustainability of unprofitable ventures. Shah, however, maintains that entrepreneurs should be celebrated for their vision, regardless of immediate profitability.
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