Everything Rehan Yar Khan said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Khan: Startups are now India's largest job-creating industry
“And certainly if you look at the last 12 years in 2008 is when the venture capital revolution started in India. This is the largest job creating industry in India. It's no longer IT services or banking or something like that. It's the startup industry, right?”
Khan: Ola was funded before Uber existed; it was not a copycat
“I was the first investor in Ola. Very interesting investment in Ola. A lot of people don't know this, but, ah, the Ola investment was actually a pre Uber investment. Uber didn't actually exist when we invested in Ola. So, a lot of people always think Ola was a…”
Khan: Flipkart has created more millionaires than Infosys
“You've got companies like Flipkart, which have created more millionaires than Infosys has created, for example.”
Khan: Passed on OYO after meeting a sleeping 17-year-old Ritesh Agarwal
“So I think OYO was a company I had met Ritesh, and I didn't end up investing. In, in my defense, you know, he was 17 years old, and when I met him, he was sleeping.”
Khan: Ola beat Uber in India by aggregating one million tourist vehicles
“See the reason I think the reason Ola won in India versus Uber, they never, they were never a copy of Uber. It was an original idea. That the OLA team had that there are a million tourist vehicles in India and I can aggregate them.”
Khan: Orios avoids second-time founders due to their high valuation demands
“No, no, we prefer only first time entrepreneurs. We can't afford the valuation of the second time entrepreneurs. They're just too high.”
Khan: Seed funds will never become very large in AUM
“So we are a seed fund and seed funds, as you know, will never become very large in AUM. Some of the most successful seed funds in America are yet 152 hundred million dollars, two hundred and fifty million dollars at most.”
Khan: On-demand home services fail because custom tasks cannot be productized
“We found that that thesis didn't work because you know, each job is such a custom job that you cannot productize it.”
Khan: Founders who scale massive businesses do not take offense
“I think the biggest reason, and this may seem like an odd one, is that I feel people who build big businesses or people who are successful in life don't take offense. People who take offense, you know, or something has happened to me, those people get stuck in…”
Khan: Early rival sent thugs with hockey sticks to Ola's office
“There was a cab company in in Bombay, which sent, like, gundas to the office to beat, beat these guys up, and they broke, like you know, they broke, like, glass walls and all with hockey sticks, and these guys stuck it out through that.”
Khan: Prospective investors passed on early Ola, arguing street hailing sufficed
“I remember when I was syndicating the Ola round, and I was trying to get other people into it, and nobody wanted to invest. People were like, yaar, ye kya Bekar company layo, I can wave my arm and get a cab. Right, Bombay. Right, so who's going to order these …”
Khan: Early Dilution Does Not Matter If Founders Build Large Businesses
“So this thing that a lot of founders think, for example, I'll get very diluted or I should, that is not really a concern. Once you build a big business and you're very good at it, you'll be so indispensable that investors will be bending over backwards to give…”
Khan: Founders Are Better Off Raising From Smaller Funds Than Mega-Funds
“So similarly, if you are a founder, and instead of going and raising money from the biggest funds, Or the biggest investors, you're better off targeting smaller investors because you are more important for them. That investment cannot fail for them. Right? Tha…”
Khan: India's luxury and top-end consumer market remains small
“The top end of the market in India, anything to do with luxury has remained small.”
Khan: Angels funded multiple rounds for Ola and Druva before VCs entered
“Very often when we invest in companies, including Ola and Druva, right? We had to do multiple rounds of funding before the next round of investors would come in.”
Khan: Passed on investing in Swiggy, Capital Float, and Freshdesk
“Swiggy is another one that, ah, you know, I ended up passing on. Then there was Capital Float. There was, ah, there were so many. There was, ah, Freshdesk.”
Khan: Early Ola founders faced an FIR for operating illegal services
“Somebody had got an FIR filed against them, against the founders in the RTO for operating illegal services, so they had to deal with that.”
Khan: Orios reviewed 4,083 pitch decks in 2016 to make four investments
“We looked in 2016, we looked at 4083 power points. We met over a thousand of them to invest in Ford.”