homeyoung turks NewsStartups should be chasing sustainable profitability & not IPOs, says PhonePe CEO
Startups should be chasing sustainable profitability & not IPOs, says PhonePe CEO
In the 2023 edition of CNBC-TV18 IBLA, PhonePe earned the title of Young Turk of the Year, while BluSmart was recognized as Startup of the Year. To explore the paths and future directions of these companies, CNBC-TV18 conducted insightful discussions with Sameer Nigam, Founder & CEO of PhonePe, and Anmol Jaggi, Co-Founder & CEO of BluSmart.
Apple co-founder Steve Jobs famously remarked, "I'm convinced that about half of what separates successful entrepreneurs from the non-successful ones is pure perseverance."
CNBC-TV18 annually recognises and applauds this persistence in the pursuit of entrepreneurial visions by honouring two emerging companies at the India Business Leader Awards (IBLA).
At the CNBC-TV18 IBLA 2023, PhonePe was crowned the Young Turk of the Year. The fintech giant, backed by Walmart, serves two out of three Indians, totalling 500 million users. As the leading player in UPI payments, the platform processes a staggering five billion digital transactions each month, facilitating over 35 million merchants in accepting digital payments.
In 2023, PhonePe embarked on a year of new beginnings, expanding its vision beyond payments. The company diversified into hyperlocal e-commerce, insurance, stock broking, lending, wealth management, and even introduced a challenger app to the ubiquitous Google Play Store.
The Young Turk Startup of the Year at CNBC-TV18 IBLA 2023 was awarded to BluSmart. This startup is transforming urban mobility by electrifying its fleet and fundamentally altering the way people move.
Founded just four years ago, BluSmart has completed over 10 million rides, covering a distance of 325 million kilometres and saving more than 21,000 tonnes of CO2 emissions. Racing towards a greener future, the company aims to double its fleet to 10,000 electric cars by March 2024.
To delve into the journeys and future trajectories of these companies, CNBC-TV18 engaged in discussions with Sameer Nigam, Founder & CEO of PhonePe, and Anmol Jaggi, Co-Founder & CEO of BluSmart.
Watch the accompanying video for the entire discussion.
(Edited by : Sangam Singh)
First Published: Dec 6, 2023 8:52 PM IST
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