The Ledger
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Khare: Indian Startups Succeed By Compounding 50% Annually Without Hypergrowth
“You start off, you don't go into a huge negative cash flow. You're going to shallow Jacob and you come out, but you don't grow at, you know, there's no hockey stick. Three X a year. You grow at 70% a year, 50% a year, but you do that for 15 years. If you go 50…”
Khare: Indian B2B Commerce Benefits From Global Supply Chains Leaving China
“There's a sub-flavor of that, which is India to the world BtoB commerce, that's done really well, and I think that, that is benefiting from a lot of supply chain shifting from China to other sources.”
Khare: Lightspeed Often Holds Entire Stake for Two Years Post-IPO
“In many cases, we don't sell anything at the IPO. We hold it. We might hold it for many years, for that matter, depending on our view on the company. But at the minimum, a couple of years post IPO.”
Khare: Every Indian E-Commerce Startup Had Negative Gross Margins in 2011
“I remember coming here in 20 11 before joining Lightspeed. And we had a, we were looking at an e-commerce company not to be named, and there were negative gross margins on it, and as an investor in the U.S. And an entrepreneur in the U.S., I literally never se…”
Khare: Lightspeed's Repeat Founders Surged From 15% in 2014 to 70%
“We looked at our portfolio from 2014, 2019 and 20 24. So five year segments. About, if I remember correctly, about 15% of our founders were second time founders that we backed in that year. Either way, 15%. Today it's 70%.”
Lightspeed India's 2 percent Series B or C stake in Byju's returned 100x
“Lightspeed entered by Jews at series B or series C, and it took only two percent ownership. And that two percent ownership today is actually hundred X.”
Mohapatra: Building SaaS in India for APAC is highly promising
“We think that while that model is, is definitely, you know, working for us across multiple companies we have made investments in, the model of building in India for the APAC market is also very, very interesting.”
Khare: Two-Thirds of Lightspeed India's Historical Investments Are Seed-Stage
“And by the way, two thirds of our investment historically have been seed investments. In India.”
Khare: Lightspeed's Early Bet on Music Streamer Dhingana Was a Mistake
“The first company I ended up advocating for to invest in was a company called Dhingana, a consumer company doing basically an early version of Spotify for India... Dhingana was the largest by traffic. And so we invested there. We got that call wrong. I got tha…”
Khare: Lightspeed Has Not Backed Any Indian AI Services Startups
“So we haven't made one in AI services. By that I mean companies that build AI native applications for enterprises. We've looked at a bunch. We've done one in the US called Distyl. It's not an India company.”
Pepper Content had 35-40 Lakhs MRR when Lightspeed invested
“We went from doing five, six lakhs of monthly revenue to, I think, 35, 40 lakhs of revenue when Lightspeed came in, right?”