Prediction Open · timeframe Dec 2032
India Will Produce 5x More $100M Software Companies by 2032
“So I think India can get 200 companies at a hundred million by 2030. Why not? Definitely India can get to that. So typically 15 in this decade, in the next decade, I would say 2030, 2032, give and take plus two years here. We can produce five X of what we prod…”
Prediction Not checkable as stated
Indian SaaS Will Reach 6% Global Share and $70B in Revenue
“We are projecting about six percent. If you go to six percent, because SaaS is also a foundation also going, we will touch about 60, seventy billion dollars in revenue. That's what we need to touch. To get to that half a trillion to trillion dollar market cap.”
Assertion Not checkable as stated
SaaS Requires $125M to Hit $100M ARR Versus $250M for Fintech
“See on an average, a SaaS company takes hundred twenty-five million dollars to touch a hundred million. A fintech company probably takes two fifty million dollars, right? So that way SaaS is extremely capital intensive and B to B marketplace will take probably…”
Insight
Founders Should 'Manufacture' Co-Founding Teams Rather Than Hire Friends
“So your co-founder has to be meritocratic in nature instead of your, the first friend from school
or your first love from your college coming and beginning to work with you. I think that's what I'm calling manufacturing co-friends, which means co-founders, wh…”
Prediction Not checkable as stated
AI Will Create 'Service as a Software' Automating Half of Workforces
“So if you can, so therefore new category is going to emerge, in my opinion, which is now we said software service, service as a software, right? You would automate 50% of your workforce to software and then start selling as a service, which is AI and services.”
Prediction Not checkable as stated
India Will Rank Third Globally in AI Behind US and China
“Can India be number two? Number one, I doubt it. I don't have visibility to it. Can India be number three? Yes. Because of sheer economy of data, scale, data, people, talent, and Indian young population.”
Assertion Supported
Salesforce is Approaching $1 Billion in Indian Market Revenue
“Salesforce is almost crossing billion dollars of revenue from India.”
Insight
Garg: Local Indian Shops Win Over Big Retail Through Personal Relationships
“Local shop is winning because of two things. Relationship, your merchandise, and the cost. The retail comes in relationship goes away. There are foreign brands or big brands going to come. There is no relationship one to one level. So therefore, if somebody ha…”
Assertion Supported
Eka Reached $34M Revenue and Raised $40M From Silver Lake in 2013–2014
“And then in 2013, you know, 1314, we touched about thirty four million dollars in revenue. Yeah. And nine million in a bit also. Yeah. We acquired two companies, one in Canada, one in Australia. And that's the point in time. We said, okay, let's get a private …”
Insight
Pivoting From On-Premise to Cloud SaaS Compresses Top-Line Revenue 2.5x
“2.5 times is the number. Yeah. So 2.5, not only churn, because let's say if I'm selling goods for you for one million dollars, then typical subscription will be, say, 50 K. So not only the churn happen, your revenue top lane starts coming down and profitabilit…”
Assertion Supported
Eka Recovered to $30M Revenue With High Profitability Post-Cloud Pivot
“No, we hit, we actually touched the same peak again, touched thirty million again. Back again in revenue, but very profitable now. So we were able to get back the same thing. So value therefore increased because now we shifted to cloud. We survived first of al…”
Assertion Not checkable as stated
India Now Has 15 SaaS Companies Above $100M ARR
“If you look at just the SaaS ecosystem, about 15 companies, about hundred million plus, we about maybe hundred twenty-five million plus give and take on that range. And maybe we have Another 150 above ten million, above five million, another 200 companies, rig…”
Prediction Not checkable as stated
Indian Startups Will Develop an External CEO Layer Within Five Years
“I think in the next five years you will get that.”
Disclosure
Together Fund's AI Deal Flow Surged From 1 to 100 Startups Monthly
“So in Together Fund, when ChairGPT was launched, first six months, any silence. We saw maybe one company a month, which is an AI. We thought something is really wrong. Maybe Indians are not getting it. We are not able to get it. What we can do as a fund. After…”
Assertion Not checkable as stated
Garg Was Offered a $10,000 Monthly Salary Out of IIFT in 1998
“You're earning 10,000 dollars a month. Where are you going to earn that? Siddharth Ahluwalia: In 98 you were? Manav Garg: Yeah, yeah. That, that, that, that was the package.”
Disclosure
Garg Diluted 60% of Eka Software for $1M in Seed Capital
“So that time we diluted about 60%. Yes, yes. Wow. Yeah. Because I had, so we discussed simple, that we, let's say, 60, 40 split.”
Disclosure
Garg Paid for Eka's First $350K Dev Contract With $250K in Equity
“So I actually, my first contract I signed was three 50 K services outsourced to Trigen technologies in Bangalore. Three 50 K contract, a hundred K in cash, two 50 K in equity.”
Disclosure
Eka Used Just $300K of Seed Funding Before Hitting Sustained Profitability
“So I should never use a million dollars that was given to me. Okay. So how much did you take it out of? Every 300,000 dollars. And then I was profitable all the time from there on.”
Assertion Not publicly verifiable
Eka Software Reached $3.5M–$4M Revenue at 30% EBITDA by 2010
“So by that time, we were three and a half, four million dollars and or 30% EBITDA.”
Assertion Not checkable as stated
Garg: Girish Mathrubootham and I built a 100+ startup angel portfolio
“So we'll write checks, 25 K, 50 K US dollars, and almost every weekend will help in helping one founder or the other. So that saw both our portfolio grew to a hundred. Grisha bought 60 investments. Fashion really scaled like hockey stick, right? Acre still wen…”
Assertion Not checkable as stated
Eka Closed $5M Enterprise Contracts Structured Over 5 to 7 Years
“TCV is very high. TCV sometimes go to even five million. Because contracts are five or seven year contracts payment, one year payment in advance. There's a machine critical software for all this very, very large companies.”
Assertion Not publicly verifiable
Garg: Eka Software Was Acquired in an All-Cash Transaction
“All cash deal there.”
