Sanjeev Bikhchandani, a notable investor, predicted that 40 to 60 venture capital (VC)-funded new-age digital businesses will be genuinely find success in the next three years.
“Sitting with Ravi Mehta (of Steadview Capital) crystal ball gazing. We concluded that in three years between 40 to 60 VC funded tech companies in India will be sustainably profitable. So it isn’t all gloom and doom”, tweeted Bikhchandani.
Sanjeev Bikhchandani said that his discussion with managing director Mehta of venture capital company Steadview Capital also assisted him in identifying a number of strong candidates for the list.
Bikhchandani’s views come at a time when new-age tech stocks are not finding favor due to negative market sentiment and larger economic uncertainty. A case in point has been Info Edge’s two portfolio startups – Zomato and Policybazaar – that have borne a majority of the brunt of the adverse market conditions.
Several users on Twitter asked Bikchandani to a share a list of which companies he thought could become profitable, but Bikhchandani has held those cards close to his chest at the moment. However while the 40-60 number might seem outlandish right now, VCs are trained to look at trends and predict how companies shape up.
Sanjeev Bikhchandani is amongst the best of them — he’s founded InfoEdge, which runs profitable companies including Naukri.com, IIMJobs, 99Acres and Jeevansathi, and was one of the early investors in Zomato. Bikhchandani was also awarded the Padma Shri last year. While it’s never easy to predict the future, someone of the stature of Bikhchandani saying that India could have 60 profitable startups in three years could give a lot of heart to the country’s fledgling startup ecosystem.
InfoEdge’s Sanjeev Bikhchandani, who is an early investor in Zomato and runs companies like Naukri.com, 99Acres.com and Jeevansaathi.com
