The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 13 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 1 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Shenoy: Attributing Jhunjhunwala's Wealth Only to Titan Is a Mistake
“Simplifying Rakhe Junjanwala into one Titan is probably one of the mistakes of our generation.”
Sacheti: Titan's 2018 99-crore primary round carried a punitive valuation
“Over a period of time, Titan then did a secondary in sorry, another primary in 2018. They put 99 crores in the company, and we were really shafted on that valuation. And that cost me a lot at that point.”
Sacheti: Tiger Global exited CaratLane around 570 crores in a flat round
“The harder task was to convince Tiger to leave because they just put in money. Right at that point. And they, and it was a slight, I mean, they came at 600, it was five 70. The currency fluctuation had hurt them. So they had to exit at possibly a flat round at…”
Sacheti: CaratLane resolved never to raise outside capital again after 2018
“I made it a point that we will not raise money ever again.”
Agarwal: Tanishq could reach 20% jewelry market share in 10-20 years
“So I mean, so what I think is that now Tanisha is a five percent market share.
Easily, 20% market share, so after 1020 years, you know, we can see it.”
Sacheti: Titan financed my buyout of CaratLane's co-founder
“Thanks to Titan. They lent me the money to buy him out. They would have obviously liked me to have more skin in the game.”
Sacheti: CaratLane grew from 140 crore sales to ~10% of Titan
“When we came in, we were .1. You know, at 20,000 crores, we were at 140 crores of sales.4, whatever that number was. Today we are nearing about eight, 10% on that.”
Sacheti: Titan's initial CaratLane entry was 100% secondary without primary capital
“And Titan only did a secondary, no primary. Yeah. They didn't put any money in the business.”
Sacheti: CaratLane raised $6M from Tiger Global skipping early rounds
“Six million. We didn't raise Seed or Angel or Series A. We just didn't do much of that stuff because of this Titan cash flow that we were doing.”
Sacheti: B2B partnership with Titan funded CaratLane until Tiger Global's 2011 investment
“And that once took on, and then, you know, we trained about, the pilot was 12 stores, supposed to be one year, but instead of in two months, it became 50 stores. We really built a robust cash flow for ourselves. And that's where the cash kept coming in, that w…”
Sacheti: CaratLane built its early business on a 53-day payment float
“They would pay us in seven days and we would pay the vendors in 60 days. So that 53 days of free cash flow that we created, we built our business on that.”
Sacheti: Strategic partners will not teach founders how to run their businesses
“You walk into a relationship with a business sometimes thinking way too much of what you'll get as opposed to what's realistically possible because they have their own business to run. They don't open a school, right, to come and teach me how to run my busines…”