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 10 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 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
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: India produces 90% of global diamonds but captures 8% of margins
“Nine out of 10 diamonds sold in the world are made in India. But we capture only eight percent of gross margin of the world.”
Sacheti: The jewelry sector accounts for 2% to 2.5% of India's GDP
“And if you take all of India, and I'm not getting into fine jewelry and fashion jewelry and all of that, but if you take all of India, we make up about two to two and a half percent of this country's GDP, which is a very large part.”
Sacheti: Indian jewelry spending as a share of GDP is 5x to 8x global average
“The beauty of this country, and you know, I'll give you a stat of this two, two and a half percent of GDP for the rest of the world, global average is .3. Okay. To .5. So we are five X to, you know, eight X of this number.”
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: Tiger Global held a 62% stake in CaratLane before Titan buyout
“They owned 62% of the business then, so.”
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.”