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Rajesh Jain

Founder & Managing Director, Netcore Cloud · 2 appearances on the record.

computed by AI from the episodes · how this works → · full disclaimer →

founderexecutiveauthorLinkedIn ↗rajeshjain.com ↗

Rajesh Jain is an Indian internet pioneer who founded IndiaWorld and sold it to Sify for $115 million in 1999. He later founded Netcore Cloud, growing it into a bootstrapped SaaS enterprise, and authored the book Startup to Proficorn.

36statements → 20claims → 9claims resolved → 44%fully supported → 3.88/5average certainty → 1.46/5average debate potential → 1said about them ↓

4 supported 1 partly supported 4 contradicted 1 not yet assessed 8 not checkable as stated how the 20 claims stand · each chip opens the sources

1 prediction · 19 assertions · 1 opinion · 6 insights · 9 disclosures · every statement was checked. The prediction and assertions are the 20 claims: statements the public record can support or contradict. 11 are resolved, 1 is not yet assessed, and 8 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Rajesh argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Assertion Supported
Rajesh Jain: US E-Commerce Gets 20% to 40% Revenue from Email
“Because in the U.S., for e-commerce companies, 20 to 40% revenue is coming from email.”
Rajesh Jain Dec 24, 2024 ▶ 5:33 Private, Bootstrapped, & Profitable: How Rajesh Jain Scaled to Over $100M As a Solo Founder

Their most notable contradicted claim

Assertion Contradicted
Total India and SE Asia MarTech market is only $150M to $200M
“So the challenge for us is that the Indian market is actually quite small, even though the customer base is very large companies don't pay a lot of money yet. So the email market plus the martech business put together would probably be just about 150 odd milli…”
Rajesh Jain Apr 23, 2022 ▶ 9:33 $12m profits, Bootstrapped, $95m ARR out of India

Expressed certainty vs assessment result

none yet certainty 1
none yet certainty 2
0% certainty 3
65% certainty 4
none yet certainty 5

weighted support: a fully supported claim counts one, a partly supported claim counts half. Each filled bar is clickable and opens exactly those claims; "none yet" means nothing said at that certainty level has resolved yet

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Rajesh Jain on measured tape to publish a rate. This says nothing about how they speak.

Everything Rajesh Jain said on Top Founders that made the record, most notable first. Filter by type, assessment or year in the ledger →

Insight
Jain: An 80/20 SaaS-to-services ratio significantly increases customer stickiness
“Now, as SaaS companies, most SaaS companies are told Not to get into services. But the services layer actually can add a lot of stickiness. So think of it as 80% SaaS, 20% services. That thin layer, I think, can make accounts much more stickier, especially whe…”
Rajesh Jain Dec 24, 2024 ▶ 8:04 Private, Bootstrapped, & Profitable: How Rajesh Jain Scaled to Over $100M As a Solo Founder
Assertion Contradicted
Total India and SE Asia MarTech market is only $150M to $200M
“So the challenge for us is that the Indian market is actually quite small, even though the customer base is very large companies don't pay a lot of money yet. So the email market plus the martech business put together would probably be just about 150 odd milli…”
Rajesh Jain Apr 23, 2022 ▶ 9:33 $12m profits, Bootstrapped, $95m ARR out of India
Assertion Not checkable as stated
Jain: AMP Email Generates 5x to 10x Increases in User Actions
“The removal of the friction of the click through to a website or app, I mean, we have seen five times, 10 times increases in actions.”
Rajesh Jain Dec 24, 2024 ▶ 9:46 Private, Bootstrapped, & Profitable: How Rajesh Jain Scaled to Over $100M As a Solo Founder
Insight
Jain: Owning a $100M Proficorn Equals Owning 10% of a Unicorn
“So in a Unicorn, you get a billion dollars valuation. Founders probably end up owning 10% of the company. That's a hundred million. You build a Proficon. You build a hundred million dollar revenue, ah, valuation company. If you own most of it, that's the same …”
Rajesh Jain Jul 12, 2023 ▶ 1:50 Startup to $100Mn Proficorn: Building an enduring, bootstrapped, profitable and valuable SaaS business
Insight
Rajesh Jain: Founders should pay top bankers 2-3% extra in M&A
“So when you're doing deals, it's worth that extra two, three percent to get the best banker that you can. Makes a world of difference. As founders, we are just unable to negotiate.”
Rajesh Jain Jul 12, 2023 ▶ 5:58 Startup to $100Mn Proficorn: Building an enduring, bootstrapped, profitable and valuable SaaS business
Assertion Not checkable as stated
Jain: Digital ad tech suffers from $200 billion in acquisition waste
“In ad tech, actually, there's a lot of, there's two hundred billion dollars of waste, you know, in reacquisition and wrong acquisition.”
Rajesh Jain Jul 12, 2023 ▶ 15:47 Startup to $100Mn Proficorn: Building an enduring, bootstrapped, profitable and valuable SaaS business
Insight
Jain: Focusing on existing customer relationships yields a 5x larger TAM
“And if we can shift focus from new customers to existing customers, it opens up a five X bigger TAM for brands focused on existing customer relationships. That's really the only way brands can build profitable businesses.”
Rajesh Jain Jul 12, 2023 ▶ 15:54 Startup to $100Mn Proficorn: Building an enduring, bootstrapped, profitable and valuable SaaS business
Assertion Supported
Rajesh Jain: US E-Commerce Gets 20% to 40% Revenue from Email
“Because in the U.S., for e-commerce companies, 20 to 40% revenue is coming from email.”
Rajesh Jain Dec 24, 2024 ▶ 5:33 Private, Bootstrapped, & Profitable: How Rajesh Jain Scaled to Over $100M As a Solo Founder
Assertion Partly supported
Jain: Netcore accumulated $100M cash reserves from profits by 2020
“So we built it up to about a hundred million in by 20 20.”
Rajesh Jain Dec 24, 2024 ▶ 6:16 Private, Bootstrapped, & Profitable: How Rajesh Jain Scaled to Over $100M As a Solo Founder
Assertion Not checkable as stated
Jain: Average feature adoption on most SaaS platforms is only 30-40%
“I mean, look at, what is a typical adoption of most SaaS platforms? 30, 40%.”
Rajesh Jain Dec 24, 2024 ▶ 8:32 Private, Bootstrapped, & Profitable: How Rajesh Jain Scaled to Over $100M As a Solo Founder
Assertion Not checkable as stated
Jain: 60% to 70% of Email Users Can View Interactive AMP Content
“So I'd say about 60, 70% of customers typically would be able to see the AMP interactivity”
Rajesh Jain Dec 24, 2024 ▶ 11:29 Private, Bootstrapped, & Profitable: How Rajesh Jain Scaled to Over $100M As a Solo Founder
Assertion Not checkable as stated
Netcore Sends About 35 Billion Emails Monthly
“We send out about thirty-five billion emails a month.”
Rajesh Jain Dec 24, 2024 ▶ 12:01 Private, Bootstrapped, & Profitable: How Rajesh Jain Scaled to Over $100M As a Solo Founder
Insight
Jain: Email, WhatsApp, and RCS turn push channels into conversion endpoints
“So if you think about it, email WhatsApp, and RCS, they are transforming the one-way push channels into basically becoming two-way endpoints for conversion.”
Rajesh Jain Dec 24, 2024 ▶ 17:04 Private, Bootstrapped, & Profitable: How Rajesh Jain Scaled to Over $100M As a Solo Founder
Assertion Supported
Rajesh Jain: India World sold for $115M at 166x revenue
“We were the first, started very close to the time Yahoo and eBay did, and I sold it five years later for hundred and fifteen million dollars. 166 times revenue.”
Rajesh Jain Jul 12, 2023 ▶ 4:40 Startup to $100Mn Proficorn: Building an enduring, bootstrapped, profitable and valuable SaaS business
Insight
Jain: A company cannot run with two power centers
“Once I got the CEO, I said there only has to be one leader in the company, it cannot be me, it's the CEO, so even if I disagree, I have to tell the CEO privately, rather than publicly because a company cannot run with two power centers.”
Rajesh Jain Jul 12, 2023 ▶ 8:38 Startup to $100Mn Proficorn: Building an enduring, bootstrapped, profitable and valuable SaaS business
Disclosure
Rajesh Jain: Netcore paid nearly $100M cash from internal accruals for Unbxd
“And then, ah, we had a very large acquisition that we did unboxed. Ah, again, all from internal accruals, ah, close to a hundred million dollars last year. Again, we paid cash, ah, for the business”
Rajesh Jain Jul 12, 2023 ▶ 9:21 Startup to $100Mn Proficorn: Building an enduring, bootstrapped, profitable and valuable SaaS business
Disclosure
Netcore Cloud acquired Unbxd for $100M in major Indian SaaS deal
“And we recently acquired a company for a hundred million dollars basically invested and one of the largest deals out of India in the SaaS space. It's a company which primarily operates in the U S company called unboxed.”
Rajesh Jain Apr 23, 2022 ▶ 2:22 $12m profits, Bootstrapped, $95m ARR out of India
Disclosure
Netcore Cloud nears $100M ARR while remaining entirely bootstrapped
“So we are ourselves at about 85 now and we had unbox ten million. So we are very close to a hundred million ARR now and completely bootstrapped.”
Rajesh Jain Apr 23, 2022 ▶ 5:49 $12m profits, Bootstrapped, $95m ARR out of India
Prediction Didn’t hold up
Netcore Cloud plans to IPO in India within 12 months
“We're also planning to do an IPO in India in about 12 months time.”
Rajesh Jain Apr 23, 2022 ▶ 12:02 $12m profits, Bootstrapped, $95m ARR out of India
Assertion Contradicted
Netcore Cloud historically operates at 17% to 18% profit margins
“So our profit margins have basically been about 17 to 18%.”
Rajesh Jain Apr 23, 2022 ▶ 12:35 $12m profits, Bootstrapped, $95m ARR out of India
Assertion Not publicly verifiable
Netcore Cloud has been consistently profitable for 15 years
“We've been profitable for 15 years.”
Rajesh Jain Apr 23, 2022 ▶ 13:19 $12m profits, Bootstrapped, $95m ARR out of India
Opinion
Hybrid CPaaS and platform SaaS companies merit 6x to 10x revenue multiples
“I'd say that companies like ours should basically, we got a mix of CPaaS and the high, high and the platform business. I'd say we'd probably be valued anywhere between six and 10 times revenues. And maybe with some bonus for being profitable.”
Rajesh Jain Apr 23, 2022 ▶ 15:12 $12m profits, Bootstrapped, $95m ARR out of India
Assertion Not checkable as stated
Netcore Cloud delivers 18 billion emails per month as independent company
“So we do eighteen billion emails a month. Which is, I think, which would be among one of the largest ones. I mean, we are probably one of the few independent email companies left in the world”
Rajesh Jain Apr 23, 2022 ▶ 18:27 $12m profits, Bootstrapped, $95m ARR out of India
Assertion Supported
Jain: IndiaWorld was sold for $115 million
“A 115.”
Rajesh Jain Dec 24, 2024 ▶ 1:27 Private, Bootstrapped, & Profitable: How Rajesh Jain Scaled to Over $100M As a Solo Founder

Show 12statements(12 left)

The other half of the tape: Rajesh Jain's own voice is left out of every number here. Other people bring the name up 1 time in 1 episode on Top Founders. every mention, with the transcript →

Who brings them up most Nathan Latka 1

Every mention by year

tap a year for its mentions
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2022 1 mention in 1 episode

Appearances (2)

EpisodeDateSpeaking time
Private, Bootstrapped, & Profitable: How Rajesh Jain Scaled to Over $100M As a Solo Founde Dec 24, 2024 9m
$12m profits, Bootstrapped, $95m ARR out of India Apr 23, 2022 11m

Played on the show (1)

Episodes where a recording of Rajesh Jain was played rather than Rajesh taking part, or where the tape carries an address with nobody putting questions to them. Listed because the words are on the record, kept out of every score on this page because they were not said on this show. We read this off the tape: who was spoken to, who was asked something, who answered whom.

EpisodeDateOn tapeWhat it is
Startup to $100Mn Proficorn: Building an enduring, bootstrapped, profitable and valuable S Jul 12, 2023 15m aired address
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