Sanjeev Bikhchandani Said No To Invest In Flipkart, Snapdeal, Ola

Sanjeev Bikhchandani, the founder of Info Edge, has navigated India's investment landscape with a blend of successes and challenges. His story offers insights into the highs and lows of venture capital, shaping Info Edge's trajectory in the process.

Bikhchandani's early investments in Zomato and Policybazaar have proven to be lucrative ventures for Info Edge. However, he candidly acknowledges missing opportunities with Flipkart, Ola, BigBasket, and Snapdeal, reflecting on the unpredictability of startup investments.

"My anti-portfolio is crazy. I gave up the chance to invest in Flipkart at the pre-Series A stage even without meeting the founders. I said no to Snapdeal twice. And I passed on Ola after meeting Bhavish and said no to BigBasket," Bikhchandani opens up.

Despite the 'anti-portfolio', Bikhchandani underscores the importance of overall portfolio performance. His pragmatic approach emphasizes the value of learning from both successful and missed investments.

Info Edge's investment in Zomato has yielded remarkable returns, with its stake growing over 124 times its initial value. Similarly, its investment in Policybazaar has contributed significantly to the company's financial standing.

Reflecting on the early days of Naukri, Info Edge's flagship platform, Bikhchandani recalls the challenges of operating on a limited budget. The decision to embrace venture capital was driven by market dynamics, highlighting the company's resilience in adapting to changing circumstances.

"We don't invest in sectors. We choose founders and companies," Bikhchandani asserts. This approach underscores the importance of backing visionary leaders and innovative ideas in the startup ecosystem. "When we went to the Board about investing in FoodieBay (earlier avatar of Zomato), you know what the feedback was? They asked how many cities there are with a restaurant directory and how many of these restaurants have a marketing budget,” Bikhchandani shares the story.

As Bikhchandani shares insights with aspiring entrepreneurs, his journey serves as a valuable lesson in navigating the complexities of venture capital. It underscores the significance of perseverance, strategic decision-making, and a deep understanding of market dynamics.

"People still think we are good investors. It's because what matters is whether enough of the investments that you have made turn out to be good," he said.

Sanjeev Bikhchandani's investment journey with Info Edge offers a glimpse into the dynamic world of venture capital. His story encapsulates the highs and lows of startup investments, highlighting the resilience and adaptability required for success. As Info Edge continues to evolve, Bikhchandani's legacy as a pioneering investor remains integral to India's entrepreneurial landscape.