Deepak Abbot
@deepakabbot
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@indiagoldco https://t.co/3M5kEtTXL4
Gurgaon, India
Joined May 2010
50 people in a restaurant can sit without a mask but a single person in a car can’t. No argument can ever justify this for me 🤯🤯.
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Elon musk misuses his fan following by twisting the truth. Tesla can import, pay the required duties and sell as many cars they want in India.
@madhusudhanv96 @PPathole Tesla will not put a manufacturing plant in any location where we are not allowed first to sell & service cars.
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If your nail still has the voter's ink mark, your body isn't producing enough Vitamin B7. Eat more nuts, seeds, eggs & fish.
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IIT Roorkee student has quietly released a Tiktok clone called “Mitron TV” a month back and it has not only achieved 5mn installs, it is now no.2 android app in India thus raking in half a million installs per day. Name of the app is the growth hack here IMO
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Small story: We use @Razorpay for our payouts. Saturday late night we ran out of balance as I missed the email alert. We have regular payouts using that balance. To our shock, our bank was under maintenance that night for 8 hours. We were wondering what to do. 1/5.
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Nykaa & Zomato raked in Rs.2 Lakh crore subscription for their IPO by Day 3 while LIC is struggling to touch even 30,000 crores. Everything just changed in 6 months 🥵.
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Saw a black Scorpio with a HR number (yes a Scorpio) giving indicator to change lanes in Gurgaon. Felt like a Black Mirror episode. Still shaken 👁️🗨️😰.
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Delhi Mumbai Expressway (ready next year), Mumbai Nagpur expressway (almost ready), Purvanchal Expressway (ready),Surat Chennai Expressway, Amritsar Jamnagar Expressway & WDFC (half operational) are going to dramatically change the pace of infra growth in India. Tie your belts 🚀
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April loss of business is $80bn approx vs cost of vaccinating India $8bn:.RTGS - 🔻33%.NEFT - 🔻34%.UPI - 🔻3%.IMPS - 🔻9%.Credit Card - 🔻19%.Debit Card - 🔻18%.CTS - 🔻24%.Cash - 🔻11%.
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Bangalore builds hype, Delhi builds dhandha🤪.
#MintCharts | Once Bengaluru used to be India's startup capital but not anymore. Between 2019 and 2021, Delhi added 1.7 times more startups than Bengaluru.
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All Indian cities are literally sinking under collapsing infra, pollution, violence and road rage, but we still want to win the argument how my city is better than yours. Stockholm syndrome should be renamed India syndrome.
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State of engg hiring in this short chat I had with another founder. It isn’t easy to retain or hire engineers. At junior level almost no one values ESOPs, they all need cash
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A founder offered 0.2% equity as esop to a potential senior hire. Fairly decent, till you read the fine print - 0.2% of the esop pool 🤦♂️🤦♂️🤦♂️ such a scam (and also refuses to disclose the esop pool) - esop policies beyond twitter universe of 1-2% startups are just an eyewash.
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💳Credit Card: Rejected ❌, 🏠Home Loan: Rejected❌. Please apply for all financial products while you are salaried. Once you become an entrepreneur, don't expect banks to see you favourably (no matter what your credit score or net worth says) 🤦♂️
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I need this made. Any good carpenter reference in gurgaon who can just copy it as is?
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30 days of no processed sugar. Toughest was quitting chai. 3 kgs weight loss is a bonus.
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This is the startup collaboration and support system we need. This is how we grow the ecosystem together. I just can’t thank the whole @Razorpay team for being so supportive and thoughtful. Customer for life 🙏🙏 5/5.
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The best use of the F1 infra at Abu Dhabi Yas Marina Circuit. Free for cyclists, runners to use it twice a week for 4 hours. Bonus: you get the cycles on the spot (for zero fee)
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The burning 🔥 question ❓is - Kaun banega unicorn aaj 🦄. It’s already 7am. Hurry up.
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There are over 50k Indian Apps (including all Top apps) which has FB SDK. They ALREADY HAVE your information which whatsapp intends to share too now. Probably they have lot more than what Whatsapp may share :).
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IPO frenzy isn’t slowing down: little know company Latent Analytics has been OVERSUBSCRIBED 326X. HNI’s alone did 850x. This amounts to bid of over ONE LAKH CRORE. More than 2x of Policybazaar & 6x of what Paytm could gather. Who can explain what led to this frenzy?.
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India’s flag is undoubtedly the best looking flag in the whole world 🇮🇳
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I had my US visa appointment yday at the consulate. I didn't carry my phone and bag as it isn't allowed inside. I forgot that I was wearing @UltrahumanHQ ring and they refused to let me in. I came out and realized there is no one I could hand that over. Confused what to do next. .
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Hello @Olacabs - your driver Amod came back long way to return my mobile phone. Wish I could give him 10 stars
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UP covid recovery rate is fantastic. When it all ends, UP will have far more recoveries than ever affected. (& Noida will soon be covid free)
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A friend in Gurgaon has been asked to appear for in-person interview in Bangalore and the HR person said they will only provide "one way ticket". I asked my friend to drop the invite. Not even worth trying 🤯.
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Find me another founder who will honestly talk about their market plateauing and behind the scenes of headline numbers. For me @Nithin0dha is a legend.
In India, we have hit a plateau in terms of new user additions & revenue. We are still not seeing a drop as our markets are holding up. But if markets fell, the impact will be as much as RH in revenue. I keep reminding myself & our team of all of this to temper expectations.😃7/7.
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I don’t understand what’s the burning need to buy an EV scooty when the tech is still at POC stage. The premium for EV you pay will not give ROI for 4 years so even running cost is a poor benchmark. Better to wait and let early enthusiasts help make it suitable for majority.
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Paytm is the preferred choice for most top end payment consumers in India. Look at the DAU data (source Appannie):.1. Paytm: 2.6mn DAU.2. PhonePe: 0.7mn DAU.3. Gpay: 0.5mn DAU. @Paytm is multiple times ahead of others. Top 10% of India go for Paytm @vijayshekhar.
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I just published India’s 100 Unicorns: Ranked by Revenue, Losses, Current Valuation, Revenue Multiple. Some of the facts will shock you [clickbait 🤪] Please RT.
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The list of Top100 unicorns conveys nothing. I got onto my data mode and compiled India’s top loss making, top revenue generating, top 20 youngest unicorns, most valued as of today’s valuation, top 20 b2c, top 20 b2b. All that coming up in my data dump blog today. Stay tuned ✅🥁.
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ESOPs are taxed at the time of exercising making it the biggest reason for its non-adoption. @indiagold is one among few startup whose employees won't have to pay tax at the time of exercising. If you work at a startup, please ask your employer if they have this unique exemption.
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"Only Fintech in India" which has a SFB license is @bharatpeindia - they have a real chance of building a true vertically integrated Neo Bank and not just a UX enhanced App interface. It takes Ashneer & his steallar team to pull this off. He is a true hustler.
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Contiuing with our transparency philosphy, I am sharing @indiagoldco Product/Growth tools we use internally. These tools serves our usecases so I request PMs to evaluate their own needs
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Recd $83 from someone in USA in my @HDFC_Bank account. They refused to credit as they didnt accept the reason code. I asked them to return it back. They returned $23, deducting $60 as charges. I don’t even have the patience to fight but tweeting it to just vent my anger 🤬.
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Such nuisance will never happen in a Bangalore startup 😼
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New founders asking how many ESOPs to give to their Top Hires OR employees asking how much to ask (be sure you are a top hire :) - here is a quick reference table. This is a liberal ESOP table so only refer this for your best hires. Use this to reduce CTC cost upfront
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EVs in India are ridiculously priced. Zero financial sense in buying yet. Buy only if you deeply concerned about the environment and 35% money premium upfront is not an issue 🚗🔋.
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@GabbbarSingh 700kms of continuous expressway from Delhi to Ghazipur is one of the best infra projects in the country. And it came up faaaast.
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Hope Neo Bank PMs are asking these people why are they lining up to enter a branch. We can get blinded by UPI numbers, internet penetration, twitter bubble and fintech app downloads but onground reality even today is different. And this is not “Bharat”. It’s a large urban city
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Life comes full circle - from building the product to getting a demo as a merchant from the stellar @Paytm team 👊
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In poor taste @foldmoney_ why release an app if you can’t take the feedback.
@dushybag Yup dragging the hard work of a team in public, especially the one you didn't pay for, without understanding how the product works is much easier than reading a blog post.
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CRED is the only app on Play Store which has seen the immediate lift (2.5x the avg) in downloads since IPL started. All other sponsors/advertiser are on the same trajectory.
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One way is to crib about google's monopoly and the other is to build a product to take them head on. Have been using @MapmyIndia Mappls regularly as it is far better than Google Maps. 3D views, visual intersection view, camera alert, road speed limit makes it highly useful
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I did what my grandfather did with his gold while leaving Pakistan 🇵🇰😝 - I went little further, dug a hole, kept my ring inside and kept a stone on top of it. Only difference - I went back and took it back🤩. Lesson: Do not carry any electronics to US visa interview.
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Am I allowed to say Oppenheimer was overhyped and boring? Rocket Boys 2 was far better 🤭.
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2nd stint @paytm comes to an end. Last 3yrs were my best in all sense. It was a mad roller coaster ride only lucky few can experience. 20x growth in 3yrs truly reflects the team I got to work with. Thanks @vijayshekhar & everyone @ Paytm to make this journey so superlative for me.
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Whatsapp is now back to doing 7 lakhs installs a day in India vs Signal 1.5 lakhs a day. Just FYI.
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Future is here: Signed rent lease agreement online, verified it online yday & today I can access it on Digilocker App - Well done Maharashtra Dept of Registration & Stamps. Last year I had to stand for 3 hours, dirty my hands with stamp pad ink and wait for 10 days to get a copy.
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Haryana (read Gurgaon) created more formal jobs than Delhi in last 5 years. In fact Haryana (read Gurgaon) created 50% more job than whole of UP. Haryana creates 100 formal jobs per sq/km vs Top 5 states avg of 29 (source EPFO). Power of a tiny city called Gurgaon.
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UPI is going to hit a new milestone in March - Rs.5,000,000,000,000 (Five lakhs crore) value. Hope I got my zeroes right.
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Is 2400cr revenue enough to settle the debate if CRED has a business model? I will stick my neck out and say they will cross 5000cr in FY25 and will be close to profitability by FY26.
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CRED increased its UPI value share from 0.4% to 1.1% and is among Top 5. In absolute value they grew from 675cr in Apr 20 to 5500cr in 1 year
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Bull run in 2021? Think again. Intl Tech IPOs that launched in 2021 are facing the heat of overvaluation
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My Sovereign Gold Bond matures on 30th Sep giving 18.5% CAGR (tax free). If I had invested the same amount in Nifty index, I would have recd ~15% post tax. Not a recommendation to buy SB. I just got lucky with gold prices in last 2 years.
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An (ugly) looking Mahindra XUV 3xO garnered bookings worth 5000 cr within 60 minutes. That's the tweet. No analysis.
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A Product Manager in my team asked for 2 weeks leave - reason - he is standing for a MLA seat in Haryana on a national party's ticket. I was pleasantly surprised. Hope he wins. India needs such young politicians 👏.
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Still remember when I saw him on Day 1 at work - could not believe that this extremely quiet & shy guy is indeed @Trendulkar - all the best buddy. Keep spreading happiness in 240 characters.
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PhonePe is unstoppable 🚀🚀 They are inching towards 50% overall market share in UPI. Will be interesting to see their strategy in next 1 year to bring this share down. Whatsapp saw MoM decline in their already tiny share
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Having seen @Paytm from inside and outside, they will come out lot stronger and better. All leading Banks line up to partner with One97 (Paytm). IMO, this will give One97 a much bigger opportunity to become a preferred platform for multiple banks' offerings in a single app.
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Just published: “Top UPI merchants — Zerodha, CRED & BharatPe are 3 big surprises” .@Nithin0dha @kunalb11 @miten.
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indiagold completes 1 year and good day to hit this milestone. 99.9% of our customers are not on twitter but it’s stll good to share here ☺️
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Can we do 1cr vaccines a day? I think we can. If we can vaccinate 60cr twice in next 4 months, we have a real chance of seeing some normalcy 🤞🤞🤞🤞.
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Coinbase marketcap is soon going to be less than some of the the Indian Unicorns making less annual revenue than Coinbase makes in a day 💁♂️.
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Who came up with this arbitary "4pm on 28th April” Muhurut for CoWin registration? How high are the chances of it crashing when it opens?.
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God should fire the Product manager responsible for rains in Gurgaon. Even such menacing looking clouds have such poor conversion. The funnel is leaking somewhere 🤭🌧
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“Bharat" is being discussed on “clubhouse” by “Americans” is the theme of my twitter timeline today 😄.
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Irresponsible, anecdotal and unfounded reporting doesn’t help the already tough hiring environment in startups.
Indian tech firms are expected to hike salaries or counter offers by 60-120% in 2022 as they seek to attract and retain talent with niche skills. By @spriyankaET .
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In Apr 2022, SBM (Partner for PostPe, Slice, Uni) did volume of 2500cr (10mn txns) through the cards issued by Fintechs. All other banks put together did 1200cr (2mn txns). No wonder RBI is noticing it.
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Show me another captable where employees are the 2nd biggest shareholders, have same stake as founder, have double digit pool after Series F. Crazy respect for @kunalb11 & @CRED_club team.
Kunal Shah-led @CRED_club recently revealed its FY23 financials showing 3.5X growth in scale to Rs 1,400 Cr.Check out the ownership structure of CRED here:.➤Kunal Shah: 12.1%.➤Peak XV Partners: 10.4%.➤QED Labs: 10.7%.Visit @TheKredible for more details.
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🚨AMAZING TRAVEL DEAL 🚨 - Delhi to New York return + Delhi to Dubai on Air India for Rs.36203 - To good to be true deal but it is 100% true. No conditions apply. Don't forget to send me a nice gift if you get this deal :)
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Zomato is the bitcoin of my portfolio - volatile yet the best yield 🤩.
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Play Store's new payments policy from 20-1-2021 has also now included education, dating & fitness to use google billing (which means 30% gatekeeper's tax to them). Also they have clearly laid out policy for not promoting off-app billing of any paid feature
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True story: A unicorn founder once said (in 2018) that by 2022 HDFC Bank will go down & Reliance has no future. I will revisit this tweet in 2022.
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indiagold eyes national expansion to disrupt gold loan market via @timesofindia @digbijaymishra1 @indiagoldco @nitinmisra.
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