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 B.tech, 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.

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