Avnish Bajaj
@avnish
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Entrepreneur & Investor (Z47 @z47_vc, Baazee = @eBay India). Family man. Global citizen. Traveler. Adventurer. Seeker.
Mumbai
Joined March 2008
This is a first for me - automatic IT refund without assessment or scrutiny! True execution towards respecting wealth creators and ending tax terrorism! 👏🏽🙏🏽@narendramodi.@PMOIndia @nsitharaman
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Be reliable. Unreliability can cancel out other virtues. - Charlie Munger.
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I have booked an early ticket to this revolution by @bhash & @OlaElectric - when will you book yours?! Truly game changing product on its way to transform Indian mobility! 🙏🏾.
India’s EV revolution begins today! Bookings now open for the Ola Scooter! .India has the potential to become the world leader in EVs and we’re proud to lead this charge! #JoinTheRevolution at @olaelectric
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My son’s morning class on Zoom when teacher is giving the kids a piece of her mind on their work - teacher’s 3 y.o. walks in & says “mama, mama, potty!” 😂 Class bursts out laughing and period over! . Much needed laughs for the kids and everyone in all this doom & gloom!.
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Work from office beats work from home any day! 😁 Have come full circle on this journey
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Exactly a year ago @bhash took us on a tour of uneven barren land & announced that @OlaElectric will build the worlds largest 2W factory! Very few believed - surreal to now ride a 10x disruptive product with a 10x delivery experience to boot! And they are just getting started! 🙏🏽
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“We are not Tesla of India, we’re Ola of the World!” @bhash 👍🏽👏🏽 The audacity of the vision backed by the demonstrated execution chops is truly inspiring - Godspeed 🙏🏽. @OlaElectric.
Ola chairman and group CEO @bhash discusses his bold, big bet on e-scooters in an exclusive interview with @TheSouravM and @PLidhoo. READ: @Olacabs
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Like someone smart & experienced said - celebrating a fund raise is like celebrating taking out a mortgage, it’s the beginning of the responsibility to our investors who we thank sincerely for the ongoing support and the privilege to be part of the exciting times in India! 😊🙏🏽.
We are pleased to announce the closing of our third fund, and thank the founders in our portfolio and those outside for being our inspiration and supporters on this journey together! @avnish @tarun_davda @VikramV23
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Amazing grit 🙏🏽 So many life lessons - courage, making one’s own luck, destiny.
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Insatiable curiosity - such a core driver of life success yet so rare.
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Dinner table chat on capitalism vs. socialism with my son. (Unprompted) reason for not liking socialism - “The more of you make, the more they take! So I wouldn’t want to make and country wouldn’t grow!” These young ones are much more thoughtful at their age than I recall being.
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“The difference between who you are and who you want to be is what you do.” – Charles Duhigg.
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Inspiring 🙏🏽 - see some similarities with the VC investing biz! 😄
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I get audited or scrutinized every year for last 15 years and always get a refund though after years and sometimes in courts/tribunals. If this holds, true “New India”! 😊 Thank you @nsitharaman.
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Wow! One of the best creatives i have seen globally in a loooong time! And better yet - done all in house by .@OlaElectric team! Love the tag line - well done team & @bhash- i want all the colors! 😀🙏🏾.
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One of the better podcasts and worth a watch for new as well as repeat entrepreneurs:. 10+1 Lessons from a Serial Entrepreneur. @a16z @andrewchen
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What a lovely reminder for life which I stumbled upon in kids homework - always inspiring! 🙏🏼
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Great start to a Friday with our Wall of Fame ceremony for the fastest Indian unicorn @OlaElectric! Congrats @bhash, @OlaElectric & @Olacabs teams!
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In FinTech/fin. services, one would rather see 3x growth for 2 years than 10x in one year - lending businesses that make money on interest and lose on principal especially. Calibrated aggression builds the underlying risk management muscle across vintages and margin of safety IMO.
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TOTD: “lucky” people are just more optimistic and hence spot opportunities that “unlucky” people don’t as they are more negative? Resonates for me as I look around in my circles - positive thinking and optimistic people seem “luckier”, are more successful and often happier!.
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QOTD: “show me someone great, I will show you someone obsessed”.
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With old friend @1kunalbahl whose resilience has been inspiring to watch. As he says - Profitability is the last pivot! 👏🏽😊. Godspeed 🙏🏽
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This framework has guided me for 15 years now though didn’t know it existed so had my own version of working at the intersection of “Passion”, “Skillset” and “Opportunity” (and added “Meaning” later in life) 🙏🏼
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All 3Vs of a “bubble” at play in the tech investing world - Volume (number of investments), Value (valuations vs. fundamentals) & Velocity (time to an investment decision and/or mark ups between rounds). “Don’t be caught swimming naked when the tide goes out” - Warren Buffett.
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Lucky dinner with the winner! Super gracious despite being accosted at dinner 🙏🏽 Thank you @RafaelNadal - all the best for the finals!
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My 11 year old’s Whatsapp status - "If hard work is your weapon, success will be your slave". Please. Don’t. Change. 🙏🏼😊.
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Maturation of Indian Internet entrepreneurship - founders talking profits, ROE & ROCE! Music to the ears after a decade of raise & burn! 😊🙏🏽.
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Take some risks. To strive for certainty is to doom oneself to mediocrity.
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Great point from @BillGates 👇🏼 - IQ is not highly correlated with required business & Org building skills
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Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat - Sun Tzu. Importance of thoughtful action 👆🏽.
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So Goa didn’t allow @Olacabs and @Uber_India to pander to local taxi mafia claiming they have their own App. No availability ever in any category so essentially consumer unfriendly status quo. Tourist friendly @goacm?
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Early stage winter is over - unofficially, anecdotally but globally! Let the games begin - hopefully saner this cycle but not holding my breath given all the VC dry powder!. Potential founders watching from the sidelines - time to get on the field and play! 1/2.
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Kudos to you as well @sbikh in addition to @deepigoyal - you were 1st IPO of 1st phase of the Internet and now backed the 1st in the next phase 2 decades later very early, well done! 🙌🏾.
Not audited or reviewed but estimated by our team. Here is the ultimate evidence why India should invest more behind its startups and in early stage VC funds. Go @startupindia @PMOIndia @TVMohandasPai @amitabhk87
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When I say goosebumps - I mean goosebumps! What a special privilege to attend Sankalp 2024 and watch @bhash, @Olacabs @OlaElectric and @Krutrim teams in action. Goosebumps from the obsession for Viksit Bharat 2047! Obviously something that resonates close to the @z47_vc hearts.
This 15th August was a reflection of our 'Sankalp' to make the India of our dreams. Sankalp 2024 was our biggest event ever, that showcased the strides we are making in Ola Electric, Krutrim, and our 'pehla pyaar' Ola Consumer. More than 8000 people came in person and 6 lakh
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We are all students of history but it’s easy to miss history being made in the present! Hopefully in a few years we will look back and realize we were witnessing a world class global scale company @OlaElectric being built in our midst by @bhash! 🙏🏽.
Unveiling the Ola Hypercharger network, the world’s largest, densest, fastest 2W charging network. 100,000 locations across 400 cities. 50% charge in just 18 mins, adding 75Kms range. @OlaElectric #FutureIsElectric
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Mergers are often panned for failures - but the cost of indecision can be much higher! Irrespective of the title of the slide - this looks like almost a trillion dollars of mistakes for Y! shareholders given Google’s market cap! . Pix credit: RVN France
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This from a person who overleveraged & ran his business to the ground after getting protection by blocking FDI 🤔
Kishore Biyani just said 90% of Indian startups are nonsense ! via @cnha.
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Privileged to be living in India at a time when nation building is digital first! We may not realize it today: we are lucky to be working alongside the new digital industrialists (founders), a once in a country's lifetime journey and the next decade will be transformational 1/3.
India is the place to be! . Your decision to return to India has truly paid off, Nitin! Due to the reforms of the last decade, a lot of people have been encouraged to innovate here. I have always invited the world to invest in India!.
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1/ What matters more - growth or profitability? For similar businesses & quality of revenue (aka unit economics), growth matters more than profitability for value creation, IMO. Here's a thread capturing highlights from our latest ep The HACK Job! w/ @rbalaraman; do listen.👇🏾.
"Businesses don't grow themselves, entrepreneurs grow businesses" . Tune in to watch a first from our #Reflections series where .@avnish & @rbalaraman decode "The Hack Job - hacking the way to growth & profits!".
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Apr 2020 - fear of the unknown. Apr 2021 - tragedy of the known. What a difference a year makes!.
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QOTD - “you can manufacture growth, but you can’t manufacture profits!”. Relatedly for early stage - “you can manufacture users, but you can’t manufacture engagement!”. Smiley cohorts are a great proxy for scalable and profitable PMF IMO but reality is always real profits.
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Coming soon - Indian consumer tech IPOs 🙏🏽.
"We expect the IPO trend to take off in a big way over the next 3-4 years" - @avnish in conversation with @CNBCYoungTurks on Indian startups & IPOs. Watch the episode here: … @ShereenBhan.
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Interesting view on how environment in China has evolved from capital inefficient focus on market share to more business building 101. With the Indian trajectory for next decade, can we apply these lessons and do it right in the first go around?
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They are doing excellent work where impact is showing & immediate so please donate & save lives.👇🏽. Please RT and amplify - every small amount matters and have done a bit.
🚨The #O2ForYou Drive Thru has been started today and is now available 24/7. Pls get the patient to our head office itself. We helped an old lady that even the hospital couldn’t help. She came in an ambulance and was given oxygen and taken (1/2). #COVID19India #CovidIndiaInfo
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This article really made me sit up & take notice - Amazon’s advertising revenue will cross it’s marketing expense in the next quarter or two!. Least appreciated secret of the Amazon juggernaut is the conversion of each cost line item into revenue. 1/N.
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Celebrating milestones along the fantastic @GetOneCardIN journey with @sinhaanurag14! Next one (post Covid) in person with @vkhathi @rupeshk_19 & @RajatAgarwal167! Privilege to be your partners and Godspeed to much success!
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One should appreciate the effort of @narendramodi instead of perpetual criticism 🙏🏼
India has leapt 30 ranks over its rank of 130 in Doing Business Report 2017! The Report is an assessment of 190 economies, covers 10 indicators which span the lifecycle of a business. India has improved its rank in 6 out of 10 indicators & moved closer to global best practices.
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Wisdom from a bud - “early in my life I worked with people with no principles or integrity and I learnt what not to do” - awesome! 👏🏽 🙏🏽.
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Well said - we define Hustle as “Hard work + Resourcefulness”. So our shot at the success formula is -. Hustle [Hard work (input) + Resourcefulness (generating Plan Bs)] + Grit (don’t give up even in the face of adversity) + Curiosity (keep learning). @mastersofscale.
💡Grit isn't just charging up the same hill over and over. It's generating an endless supply of Plans B.💡.
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Such an incident should have serious action against both staff & mgmt of @IndiGo6E! @jayantsinha @AdityaGhosh6E
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"what else can i do?! 🤷🏽♂️” and "what more shall i do?! 🙋🏽♂️” - similar words, opposite mindsets and dramatically different results! 🙏🏽.
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Amazing thought process that lays out why he is the richest man in the World today!
What Jeff Bezos thinks when an Analyst congratulates him on a "good quarter".
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Learning from Failure = what not to do.Learning from Success = what to do. Yet talking about the former is glorified & humble, latter vilified & arrogant. IMO spending time figuring out & staying in the success zone vs. obsessing on failure zones is better for repeated success.
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Congrats @bhash on taking the @Olacabs partnership to the next level with @OlaElectric with @masason. We are privileged to be part of both the “rides”! 😉.
Celebrating 5 years of strong partnership, looking forward to the years ahead! I’m personally inspired by @masason vision for the future of humanity. Very excited about our partnership to build Mobility & Electric Mobility for India and the world! @SoftBank @Olacabs @OlaElectric
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2/2 Me: excellence requires effort - what do you want to do?. Ari: I will give you my ideas and you invest in and implement them and give me part of the profits!. Me (shocked): And why would I do that?!. Ari: cuz you don’t have the ideas and I do!. #genz #confidence #entitlement.
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“Greatness is not a place to go to, it’s a place to come from!” - @tarun_davda (after Vipassana! 😉) at the @matrixindiavc offsite!. Thank you to our resilient, happy and winning team - infectious energy despite tough passage of time! 🙏🏽. #justgettingstarted #gratitude #lifeswork
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Congratulations on the milestone @alekhs22 @mehtab_hans and @farMart_ team - outstanding execution and God Speed on fantastic opportunity ahead!. @sannigrahis @NitishaBansal_1
. @farMart_ announced the closing of their Series B round of $32M today & we are delighted to continue to deepen our relationship w/ @alekhs22, @mehtab_hans & the entire team & welcome @generalcatalyst to the partnership! @sannigrahis @avnish . Read on:.
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Heartwarming to see cutting edge innovation and scale now being done as a habit by @bhash and @Olacabs @OlaElectric! India’s decade is now also going to be led by innovation! Godspeed.
Work started and moving along at full speed on our cell gigafactory!. It will be India’s biggest and amongst the worlds biggest cell factories. And the centrepiece for #endICEage!
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QOTD: “repeatedly articulating an opinion does not make it data!” 👏🏽😂- a coinvestor we respect.
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For me the biggest learning is that the thinking of a founder is not limited by the resources available - they think goals first and generate resources to achieve them!.
Entrepreneur versus CEO - what is the real difference between the 2? . @avnish recounts his entrepreneurial journey at Baazee, & shares insights on what sets the 2 apart. Tune in to find out🎧. @rbalaraman #AMatrixMoment
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@PriyankKharge @Olacabs This speed of resolution is much appreciated and augurs well for the new India! Great to see younger ministers shedding the ways of the older ones and promoting speed and innovation.
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Celebrating a special milestone by a special entrepreneur @bhash and company @Olacabs @OlaElectric! And they are just getting started! 🙏🏾. Privileged to have been partners on this ride @matrixindiavc - thank you and happy birthday Ola!.
Ola turned 12 yesterday!. When I started in 2010, never imagined we would come this far. Today I confidently say we’re just getting started. Can’t wait to show products we’re building this year!. No better place to be an entrepreneur today than India. The future is ours to build!
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TOTD: Disappointment, handled thoughtfully, transforms into resilience.
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We do not learn from experience… we learn from reflecting on experience
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It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent - Charlie Munger.
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Thrilled to be witnessing history in the making - step after disruptive step! 🙏🏽 @OlaElectric @bhash . We at @matrixindiavc are privileged to have an early and ringside view thanks to the @OlaElectric team!. @RajatAgarwal167 @VikramV23 @desai_pranay @jot_sss @ayush_chamaria
Just returned after visiting @OlaElectric Future Factory. The pace of execution and the scale of ambition is truly inspiring. One of those only @Olacabs and @bhash can do moments! . @matrixindiavc @avnish @VikramV23
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Classmate, co-investor and friend @bsomaia - to doing more together at multiple levels like @thecommonroom 😊👍🏽🙏🏽
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When the winner became the inclusive leader! 🙏🏽👏🏽 One of the most inspiring speeches I have heard in a long long time @narendramodi sir - sabka saath, sabka vishwas!.
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Well done @bhash - zero gloating postings given the public market reception to @OlaElectric which shows you are just getting started! Godspeed ahead!. @OlaElectric @Olacabs @Krutrim
The importance of today, this moment is finally sinking in. It felt like a process till yesterday - where we did our work and put in our time and made India one of the largest EV 2W markets. Our hard work has paid off and the world recognises that. But today it feels like an
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My 10 year discussing his choice of sports classes with me: "decisions are about judgement and you have to trust mine!" 😳👌🏼👏🏼🙏🏼.
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Super excited about repeating the successful partnership with @bhash and @Olacabs - congrats and Godspeed to all involved for this green ride! 😊.
We are excited to announce our investment in Ola Electric Mobility, and for the privilege of repeating our successful early partnership with @Olacabs & @bhash! @avnish @tarun_davda @VikramV23
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QOTD: exchange information in writing and emotions in person not the other way around as is often done 😄.
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Inspiring story of kinship between two friends @RevantB & @tchirag building two market defining companies @manmatters_in & @gokwik in parallel and giving @matrixindiavc the privilege of a ringside view! Thank you 🙏🏽. @tarun_davda @rbalaraman
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VC investing is still investing (though we often forget!) and these same 1st principles apply. Also believe in learning the rules before breaking (some of) them and that by thoughtfully sizing the risk reward of doing so - which is sometimes needed for the best ones!
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I have always felt that learning from success can be as, if not more important, than from failure - latter teaches you what not do, former what to do.
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When a deepening market meets a resilient entrepreneur, magic happens!. So gratifying to see many old companies with gritty founders take off now! Well deserved & kudos to the amazingly resilient founders! 🙏🏽🙌🏽. And of course new ones taking off faster than before! #excitingtimes.
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