“I became a multi-millionaire in my early 20s. And then lost it all in the dot com bubble of the 2000s,” says Shark Tank Judge & Shaadi.com founder Anupam Mittal on his comeback
“I became a multi-millionaire in my early 20s. And then lost it all in the dot com bubble of the 2000s,” says Shark Tank Judge & Shaadi.com founder Anupam Mittal on his comeback
Anupam Mittal, the entrepreneur behind Shaadi.com and a well-known investor on ‘Shark Tank India,’ recently shared an inspiring story of his rise, fall, and incredible comeback in the early 2000s. In a detailed LinkedIn post, he recounted his journey from becoming a young millionaire to risking everything on a new venture, which ultimately led to his resurgence.
Mittal’s early achievements were impressive; he became a millionaire in his 20s, thanks in part to his involvement with MicroStrategy, a company that saw its valuation soar to $40 billion. However, this period of success was fleeting. When the dot-com bubble burst, Mittal faced severe financial setbacks and accumulated significant debt. Reflecting on this period, Mittal shared, “I became a multi-millionaire in my early 20s. And then lost it all in the dot com bubble of the 2000s. Back then, I was riding high as part of MicroStrategy which skyrocketed to a $40 billion valuation. Life in the US felt like a dream. So much so I even ordered a Ferrari. But as quickly as it came, it all vanished. The dot com bubble burst, and with it, the money disappeared. In fact, I got into heavy debt.”
In 2003, Mittal returned to India with only the lessons learned from his past successes and failures. Undaunted by his previous experiences, he made a bold move to invest in a new venture. With just $30,000 left, he decided to spend $25,000 on acquiring the domain for Shaadi.com, committing almost all his remaining funds to this venture. This move reflected his daring nature and strong belief in his new vision. “With the kind of audacity that only comes from losing it all, I set out to build another dot-com venture—Shaadi. com (amongst others such as makaan.com & Mauj Mobile). The domain cost $25,000, and we had only $30,000 left. It was an all-or-nothing move. People thought I was crazy. They questioned my business sense too,” he recalled.
Despite facing doubts and skepticism, Mittal’s risk was rewarded. Shaadi.com not only succeeded but flourished, representing a significant turnaround in his professional journey. Looking back on these experiences, Mittal emphasized that his path was about more than just financial gain. “It was about proving to myself that I could rise from the ashes, that my spirit of entrepreneurship wasn’t tied to a single success or failure,” he said.
Mittal’s journey underscores the power of resilience and self-belief. As he continues to embrace this mindset in his endeavors, he encourages others to stay persistent in the face of adversity. “Success isn’t about going along with the popular opinion – It’s about walking in the other direction of the crowd and hopefully being right. So, to the risk-taking professionals & founders out there – keep backing yourself. The game isn’t over until you win,” Mittal concluded.
