Einstein once said, one sheet of paper never decides your future. The phrase completely complies with the 24-year-old’s millionaire’s principles. Rishabh’s story is one heck of a blockbuster that needs to be told to motivate the youths of the nation. He failed in Class 12 but he knew that there is life even after a failure. At the age of 17, when most students were still figuring out what to do in life, Rishabh launched his start-up with full of confidence.
He comes from a middle-class family and his beautiful venture started with “Red Carpets Events” in 2010 when he was still in Grade 12. When he started, he could not manage quite well on his academics as he failed in his exams. He was fully focussed on building an event management company. Under this banner, he has organised over 7 more than 70 promotional and corporate events across the national capital region and Jaipur region, according to Menxp.
Having started his business from the word go, he concentrated on networking and built a good clientele across these regions. Rishabh shared his another experience, which he calls as the biggest lesson of his life as he could not bring the carbon copy of his previous company’s success in the second venture. JustGetIT was a last-mile logistics startup that linked grocery shop owners and vendors to doorstep deliveries. Though the company sustained for only a period of seven months, Rishabh learnt the virtual importance of understanding the market and having the right amount of funds to back it up.
In an interview with Inc 42, he says, “That was the time when the entire hyper-local thing was just starting up in India. Back in 2013-14, Grofers and BigBasket were at a pretty nascent stage. We figured out that we did not have a cost-effective model.”
The start-up, however, failed to take off the way Rishabh had wanted to. According to him, the main reason behind the startup’s catastrophic failure was the “lack of market knowledge”. Having learnt a big lesson, Rishabh then launched 2 more startups- Xeler8 and WeeTracker. Xeler8 was acquired by Chinese accelerator and venture fund ZDreams Ventures, and WeeTracker is all set to enter the African ecosystem.
After the acquisition, Rishabh joined ZDream Ventures as the Chief Operating Officer and Head of Investments, charting a new journey as an ‘investor’. WeeTracker, which is his next venture, was launched in Africa this year. It is a global tech media solely dedicated to the African startup eco-system. Over the last couple of years, Rishabh has also turned into a potential investor in ventures across India and other countries like China, Japan and the US, says Kenfolios.