Ashish Gupta, the man who invested Rs 10 Lakh in Flipkart in 2009 has made $20 million(Rs 134 crore) from the Walmart-Flipkart deal. Ashish was the first angel investor in Flipkart and he is known for his lucrative investments in startups across the world.
It all started with Amazon
In the year 1998, Ashish along with his partners sold Junglee- a price comparison online platform to Amazon at $240 million and since then, Gupta has been making huge money by supporting others in business.
The famous investment in Flipkart
Back in the year 2009, he decided to invest Rs 10 Lakh in Flipkart when it raised Rs70 lakh in the first round led by Accel Partners. This investment now values $20 million according to Walmart’s deal.
Other profitable investements
Apart from Flipkart, Ashish has made profits from startups including MuSigma and MakeMyTrip. He generated money from his investments in Minjar and Merittrac also, which were acquired by other companies later.
Gupta took his graduation degree from IIT Kanpur and studied Computer Science. Now he has taken the citizenship of US and is a Ph.D. from Stanford University in California. He worked in Amazon for sometime after selling Junglee.
A VC firm that failed
Gupta started a VC firm named Helion which failed badly but his own career is definitely on the track. Note that this is not his biggest profit, he made around $50 million by investments which he did in software company MuSigma.
Inspiration for other investors
He is always focused on the next big thing and his thinking is way ahead if we compare with other investors. Also, he knows when to take the decision of taking his money out of a startup. He has been an inspiration for those who want to make money as an angel investor.