Latest news with #PavanGuntupalli
Economic Times
14-07-2025
- Business
- Economic Times
IITian still remembers each of 75 rejections but went on to build a Rs 9,500 crore business. Who is Pavan Guntupalli, founder of Rapido?
Synopsis Pavan Guntupalli, an IIT Kharagpur alumnus, transformed a simple concept into Rapido, a bike-taxi service valued at ₹6,700 crore. Overcoming initial setbacks with his logistics startup and investor skepticism, Guntupalli secured funding from Hero MotoCorp's Pawan Munjal. Agencies How this IITian Turned Startup Failure Into India's Largest Bike-Taxi Platform While it's common to hear tales of Indian Institute of Technology (IIT) alumni achieving stellar positions in global corporations, one particular journey stands out for breaking the mold—a tale of entrepreneurship, resilience, and remarkable brand-building worth Rs 6,700 crore in under ten years. This narrative has become a beacon of motivation for many aspiring Indian the many successful IITians, Pavan Guntupalli's story shines as a standout example. Originating from Telangana, Guntupalli cracked the demanding IIT-JEE entrance exam and completed his degree at IIT Kharagpur. He began his professional journey at tech giant Samsung before venturing into the startup world. His initial business effort was a logistics venture named 'theKarrier,' which he co-founded with a friend. Despite their dedication, the company didn't take off and eventually shut down. Yet, Guntupalli remained undeterred. Using his learning from that setback, he launched Rapido—a bike-taxi and auto-rickshaw service aimed at offering quick and inexpensive commuting options to everyday his vision to life wasn't easy. Convincing investors of Rapido's potential was a daunting challenge. Over 75 potential funders rejected the proposal, largely due to fears that the startup couldn't compete with dominant players. But Pavan's determination never wavered. In an interview with NDTV Profit, he said that he still remembers the 75 rejections but acknowledges that some of them were valid. "We learnt from it," he said. What gave Rapido an edge was its unconventional growth strategy. While most ride-hailing services zeroed in on India's metro cities, Rapido turned its focus to tier-1 and tier-2 towns, where mobility issues were widespread and solutions limited. Initially, the company offered highly competitive rates—a base fare of Rs 15 and Rs 3 per kilometer—prioritizing affordability even at the cost of grassroots-level thinking paid off. Rapido gradually expanded across India and today operates in over 100 cities. Its mobile app has recorded over 5 crore downloads, and it boasts a dedicated network of 50,000 riders, referred to as 'captains,' serving a growing user base of around 7 lakh active of 2025, Rapido has grown into a solid brand valued at Rs 9,350 crore, as per a report. According to a report by Inc42 , the company's annual revenue has crossed Rs 1,000 crore, solidifying its position in India's fast-growing mobility sector—all born from one man's refusal to quit after failure.
Time of India
14-07-2025
- Business
- Time of India
IITian still remembers each of 75 rejections but went on to build a Rs 9,500 crore business. Who is Pavan Guntupalli, founder of Rapido?
While it's common to hear tales of Indian Institute of Technology (IIT) alumni achieving stellar positions in global corporations, one particular journey stands out for breaking the mold—a tale of entrepreneurship, resilience, and remarkable brand-building worth Rs 6,700 crore in under ten years. This narrative has become a beacon of motivation for many aspiring Indian entrepreneurs. Pavan Guntupalli: The Visionary Behind Rapido Among the many successful IITians, Pavan Guntupalli's story shines as a standout example. Originating from Telangana, Guntupalli cracked the demanding IIT-JEE entrance exam and completed his degree at IIT Kharagpur. He began his professional journey at tech giant Samsung before venturing into the startup world. His initial business effort was a logistics venture named 'theKarrier,' which he co-founded with a friend. Despite their dedication, the company didn't take off and eventually shut down. Yet, Guntupalli remained undeterred. Using his learning from that setback, he launched Rapido —a bike-taxi and auto-rickshaw service aimed at offering quick and inexpensive commuting options to everyday riders. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 10년 발톱무좀, 정확히 6개월 걸렸습니다! (사실주의) 홈시네라이프 더 알아보기 Undo Overcoming Investor Rejections Bringing his vision to life wasn't easy. Convincing investors of Rapido's potential was a daunting challenge. Over 75 potential funders rejected the proposal, largely due to fears that the startup couldn't compete with dominant players. But Pavan's determination never wavered. In an interview with NDTV Profit, he said that he still remembers the 75 rejections but acknowledges that some of them were valid. "We learnt from it," he said. The Strategy That Made Rapido Unique What gave Rapido an edge was its unconventional growth strategy. While most ride-hailing services zeroed in on India's metro cities, Rapido turned its focus to tier-1 and tier-2 towns, where mobility issues were widespread and solutions limited. Initially, the company offered highly competitive rates—a base fare of Rs 15 and Rs 3 per kilometer—prioritizing affordability even at the cost of profitability. This grassroots-level thinking paid off. Rapido gradually expanded across India and today operates in over 100 cities. Its mobile app has recorded over 5 crore downloads, and it boasts a dedicated network of 50,000 riders, referred to as 'captains,' serving a growing user base of around 7 lakh active customers. A Billion-Rupee Brand As of 2025, Rapido has grown into a solid brand valued at Rs 9,350 crore, as per a report. According to a report by Inc42 , the company's annual revenue has crossed Rs 1,000 crore, solidifying its position in India's fast-growing mobility sector—all born from one man's refusal to quit after failure.
News18
13-07-2025
- Business
- News18
IITian Faced 75 Rejections But Went On To Build A Billion-Dollar Empire. His Company Is...
Last Updated: An IITian who faced 75 rejections in securing financial backing for his startup idea, today owns multibillion-dollar company. Success stories of various IIT graduates come to the fore, about them working in top multinational companies. However, one success story of building a brand value worth 6,700 crore within a decade has inspired numerous youths. One such example is that of Pavan Guntupalli, who co-founded the bike-taxi platform Rapido. Once finding financial backing for his innovative idea, Guntupalli's Rapido now operates in over 100 cities in the country and has crossed 5 crore app downloads. Who Is Pavan Guntupalli? He hails from Telangana and cleared the highly competitive IIT-JEE exam and pursued BTech from IIT Kharagpur. After his graduation, he started his career at Samsung. He went on to become co-founder of 'theKarrier", a logistics startup, with his friend. However, he got a setback when his startup did not succeed and was shut down. Not discouraged by this failure, Guntupalli started Rapido, a bike-taxi service meant to offer affordable and easy travel options like bike rides and auto-rickshaws for people who needed quick and low-cost transport. But getting investors to support the idea was very difficult. Pavan faced many rejections — 75 investors turned him down, doubting whether Rapido could stand up to big companies like Uber and Ola. What Turned Things Around For Guntupalli? Pavan Munjal, Chairman of Hero MotoCorp, saw potential in the IITian's vision and extended financial backing to Rapido, further paving the way for other investors. This resulted in the official launch of Rapido in 2016. Unlike Ola and Uber, which mainly focused on big cities in India, Rapido took a different approach. Pavan and his team targeted tier 1 and tier 2 cities, where daily travel problems were common. In the beginning, Rapido offered a low pricing model — a base fare of Rs 15 and Rs 3 per kilometer — which made it affordable but hard to make profits. Despite challenges, Rapido grew steadily. Today, it operates in over 100 cities across India. The Rapido app has around 7 lakh active users and a team of 50,000 riders, whom the company calls 'captains." Rapido is currently valued at a strong Rs 6,700 crore. Swiggy, the popular food delivery company, is one of its major investors. Rapido now earns over Rs 1,370 crore in annual revenue. view comments First Published: July 13, 2025, 15:08 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
India.com
12-07-2025
- Business
- India.com
Who is Pavan Guntupalli? Man who faced over 70 rejections, didn't give up, now owns Rs 93500000000 company which competes with....
Who is Pavan Guntupalli? Man who faced over 70 rejections, didn't give up, now owns Rs 93500000000 company which competes with.... Failure is the key to success; each mistake teaches us something. And this story is an exemplary example that where there is a will, there is a way. He did not attain success overnight. Despite facing 75 rejections from investors, he never gave up on his dreams. Today, he runs an empire worth Rs 93500000000. He is… Who is Pavan Guntupalli? Pavan Guntupalli has been a bright student from a young age. In 2008, he took admission at the Indian Institute of Technology (IIT) Kharagpur to pursue Electronics and Electrical Communications. According to his LinkedIn profile, he worked as a summer associate at Reliance Communications Ltd in 2010. Additionally, he worked as a software developer at Samsung Research India in 2012. What came as a breakthrough was Rapido. In 2015, Aravind Sanka, Pavan Guntupalli, and Rishikesh SR cofounded Rapido, a bike taxi app. Prior, Pavan, along with Aaravind Sank, launched their first startup, theKarrier, a company that used minitrucks to provide intercity logistics services. Unfortunately, the project failed, and the two went through a setback. He went on to test seven more business ideas, and each one failed. He received 75 rejection letters at the time, but he was determined that one of the ideas had to work. However, Pavan still had a consistent vision. He analyzed the environment and decided the only way for the company to be sustainable was to reduce costs and connect directly with customers. It was during this time that he conceived the idea for bike taxis, and Rapido was founded in 2014. The official website of Rapido reads, 'Rapido has come a long way ever since its inception in 2015. With a lot of hardwork and perseverance we have made a place for ourselves in the market. As a brand and as a service, it is our constant endeavour to redefine ourselves.' Rishikesh S R, Pavan Guntupalli, and Aravind Sanka are the founders of Rapido. Rapido was in tough competition with strong competitors such as Uber and Ola, so it took a while for Rapido to gain traction. As per a DNA news report, 75 investors chose not to contribute to the business. Despite these hurdles, Pavan was always adamant to build Rapido. The company launched with a base fare of Rs 15 and a charge of Rs 3 per km, but the numbers were disappointing. But Pavan did not stop there; he just kept going until he found the right investors who believed in him. Initially, investors were sceptical. Most thought bike taxis were going to fade away, with the tough competition of Ola and Uber launching their bike taxi services. When the future of Rapido stood on shaky ground, Pawan Munjal, the Chairman and Managing Director of Hero MotoCorp, came with timely intervention and support in 2016. Munjal's support was a big shot in the arm for Rapido. It paved the way for more investors to join and propelled the company forward.
India.com
11-07-2025
- Business
- India.com
Meet IITian Who Was Rejected 75 times, Failed In 7 Startups Now Runs Rs 93500000000 Company—His Business Is….
photoDetails english 2930367 Updated:Jul 11, 2025, 05:44 PM IST Meet Man Behind Rs 9,350 Crore Company 1 / 8 Pavan Guntupalli, a young entrepreneur from Telangana, didn't find success overnight. In fact, he failed seven times and faced 75 rejections from investors before his big break. But with determination and one powerful idea, he went on to build Rapido, a bike taxi service now valued at Rs 9,350 crore. From IIT to the Startup World 2 / 8 Pavan was always a bright student and made it to IIT Kharagpur, one of India's most prestigious engineering colleges. After graduation, he joined Samsung as a software developer. But the routine corporate life didn't excite him. He wanted to solve real-world problems, and that desire pushed him toward entrepreneurship. 7 Failures and 75 Rejections 3 / 8 His first startup, theKarrier, launched with friend Aravind Sanka, didn't take off. Still, Pavan didn't stop. He went on to try seven different business ideas, all of which failed. Rejection letters piled up—75 in total—but he stayed focused, believing that one idea would eventually work. How the Idea for Rapido Was Born 4 / 8 In 2015, while stuck in traffic, Pavan had an idea. Ola and Uber were popular, but they didn't save time—people still sat in long jams and paid high fares. So he thought, why not bikes? They're faster in traffic and cheaper for short rides. That moment gave birth to Rapido, India's first bike taxi service. Beating Giants by Going Small 5 / 8 While Ola and Uber focused on big cities, Rapido did the opposite. Pavan and his team targeted Tier-1 and Tier-2 cities, where daily commute problems were real. They offered short, fast, and affordable bike rides starting at just ₹15. This smart move gave Rapido a unique space to grow. Turning Point After 75 'No's 6 / 8 Investors were skeptical. Many thought bike taxis wouldn't survive, especially when Ola and Uber introduced their own versions. Just when things seemed bleak, in 2016, Pawan Munjal of Hero MotoCorp stepped in and backed Rapido. His investment turned the tide, and more investors soon followed. A Service That Stood Out 7 / 8 With fresh funding, Rapido expanded to Bengaluru, Delhi, and Gurugram with 400 bikes. In just a few months, they had 5,000 users—and 1.5 lakh by the end of the year. Their strategy was simple: low fares, zero commission for riders in the beginning, and calling drivers 'Captains' to give them pride and identity. From Simple Idea to Rs 9,350 crore Giant 8 / 8 Today, Rapido is present in over 100 cities, with more than 5 crore app downloads and thousands of rides daily. What started as an idea in traffic became a revolution in Indian urban transport. Pavan Guntupalli's journey shows that no matter how many times you fall, one 'yes' can change everything. (Images Credit: X & Social Media)
