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Founder Salaries Tracker FY24: How Much Did Startup Founders Earn?
Inc42
·
1y ago
Medial
In FY24, the Indian startup ecosystem faced funding challenges, leading to a focus on consolidation. Inc42's 'Founder Salaries Tracker' reveals the remuneration received by startup founders during this period. Supam Maheshwari, founder of FirstCry, held the top spot, earning INR 103.8 Cr in remuneration.
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Founder Salaries Tracker FY23: Amid The Funding Winter, How Much Did Startup Founders Earn?
Inc42
·
2y ago
Medial
Inc42 has launched the 'Founder Salaries FY23 Tracker' to keep readers informed about the remunerations earned by the founders of new-age tech companies in India. In the financial year 2022-23, 98 founders of 57 tech companies took home INR 496 crore in salaries. The average founder salary rose by 68%, from INR 3.07 crore in FY22 to INR 5.16 crore in FY23. The tracker provides information on the remuneration earned by founders, the percentage increase/decrease from the previous year, and other relevant details. Some notable examples include the founders of FirstCry, Zerodha, OYO, Gameskraft, Purplle, Nazara Technologies, and Paytm.
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BYJU'S pays April salaries to employees, except sales staff: Report
Money Control
·
2y ago
Medial
BYJU'S has paid April salaries to all employees, except its sales staff, Moneycontrol reported. This comes after the edtech startup reportedly linked the salaries of its sales staff to the revenue they generate every week. The salaries have been paid from the revenues generated and the debt raised by the founders earlier, CNBC-TV18 reported.
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Many Start-Ups Don't Find PMF, Spend Recklessly and Go Kaput: boAt's Aman Gupta
OutlookIndia
·
1y ago
Medial
Aman Gupta, co-founder of boAt, advises startup founders to prioritize product-market fit (PMF) and customer focus over reckless spending. Reflecting on his entrepreneurial journey, Gupta emphasizes learning from failures and investing in product and brand marketing. He recounts not taking salaries initially and highlights India's cultural shift towards celebrating entrepreneurship. Gupta credits his success to persistence, as seen in boAt’s growth after numerous prior attempts, and advocates for leveraging India's diverse ideas.
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'Compliance, ethics aren’t boxes to tick...': Aman Gupta shares blunt lessons for founders from BluSmart fallout
Business Today
·
1y ago
Medial
The fall of BluSmart has become a significant lesson for India’s startup ecosystem, emphasizing the importance of trust, ethics, and governance. Aman Gupta, Co-Founder of boAt, describes the incident as a wake-up call and a much-needed reality check for founders. Gupta’s reflections highlight the broader implications for the industry, suggesting a shift towards more responsible business practices to ensure long-term sustainability and success in the competitive startup landscape.
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How much are Indian startup founders earning amid job cuts and funding winter?
Inc42
·
2y ago
Medial
The tracker reveals that Ritesh Agarwal of OYO topped the list with an annual remuneration of INR 12 crore in FY23. The average founder salary for 51 founders from 29 tech companies in India was INR 1.59 crore, slightly higher than the previous year. Despite the funding winter, startups are focusing on profitability and cost-cutting measures, including layoffs and pay cuts. Read the source article from "View Source" button below to read the entire list.
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'Never had a funding winter... good firms always had enough money to back them': Sanjeev Bikhchandani
Business Today
·
2y ago
Medial
Sanjeev Bikhchandani, the co-founder of Info Edge, owner of Naukri.com, believes that the Indian startup ecosystem has not experienced a funding winter despite recent challenges. Bikhchandani stated that there was never a funding shortage, but rather an excess of funding, with too much money chasing too few deals at inflated valuations. However, Indian startup funding did experience a seven-year low in 2023, falling 72% YoY to $7 billion. Bikhchandani highlighted the importance of government support and identified startups as key drivers in India's development as a developed economy by 2047.
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Dunzo delays paying salaries further as company faces severe cash crunch
Economic Times
·
2y ago
Medial
Cash-strapped quick-commerce startup Dunzo has delayed paying August salaries to employees, citing procedural requirements. Founder Kabeer Biswas assured payment next week, hinting at potential fresh funding. The company, facing a cash crunch and investor disputes, had previously promised August salary clearance by this week, and unresolved delays for June and July salaries. Legal notices from Google India, Koo, and Glance also compound its challenges.
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Test-prep startup Exampur delays employees salaries for months, founder says, "we plan to pay in 3-4 months"
IndianStartupNews
·
2y ago
Medial
Exampur, a test-prep startup, is facing financial difficulties, leading to unpaid staff salaries and unsettled full and final (F&F) payments for employees. The company's co-founder attributed the issues to a failed acquisition by upGrad and a subsequent shortage of funds. The acquisition caused operations to scale down, resulting in layoffs and employee departures. The co-founder sold personal holdings and mortgaged belongings to sustain the company, but salaries were still delayed. Exampur expects to pay off December salaries by February end and plans to pay off dues to ex-employees in the next three to four months. The edtech sector as a whole is experiencing funding challenges, with many startups making cost cuts and layoffs.
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Vana plans to let users rent out their Reddit data to train AI
TechCrunch
·
2y ago
Medial
Vana, a startup, aims to allow users to earn money by renting out their Reddit data for AI training. The founders, Anna Kazlauskas and Art Abal, developed Vana as a platform that lets users combine their personal information into data sets usable for AI model training. Vana also allows for personalized user experiences by fine-tuning public models on the collected data. Vana ensures user data control and presents a monetization opportunity for individuals who can collectively decide how their data is used through the Reddit Data DAO.
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Offer for sale: How startup founders have been raking in the moolah from IPOs - The Economic Times
Economic Times
·
7m ago
Medial
Lenskart's upcoming Rs 7,300-crore IPO will see its founders earn about Rs 1,200 crore through an "offer for sale." This trend of startup founders selling shares for liquidity is observed among many new-age companies like Meesho and Physics Wallah. While some founders, such as those of Swiggy and BlueStone, retained their stakes, founders from other startups like Ather Energy and Ola Electric have also utilized this route to generate personal liquidity.
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