The Indian startup circuit has become synonymous with outstanding developments in recent times. One of the biggest names in this circuit is Flipkart, the e-commerce behemoth that has set a benchmark for various entrepreneurs around the world. Flipkart is one of the most popular online shopping platforms in India. From dresses to grocery items, it covers a huge product catalog.
While Sachin Bansal and Binny Bansal are seen as the face of Flipkart, one more person deserves credit for taking Flipkart to the zenith of success. He is Mr. Amod Malviya, better known as the co-founder of Udaan. For the uninformed, Udaan is a B2B marketplace that attained the unicorn status in just 26 months. Amod's net worth is about INR 3500 crore, making him one of the richest Indians. This StartupTalky post sheds light on the success story of Amod Malviya.
|Education||B.Tech from Indian Institute of Technology, Kharagpur|
|Title||Co-founder of Udaan|
|Net Worth||INR 3500 crore|
Amod Malviya - An Industry Veteran and Entrepreneur
Technology has become all-pervasive in our lives. Internet is one example that attests to this statement. Our dependence on the internet for various reasons, be it to pass time, gain knowledge, or stay in touch with others, shows that we cannot survive with technology in modern times.
Amod Malviya has made significant contributions to the Indian startup ecosystem by leveraging technology. The prime example would be his stint as the CTO of Flipkart in its early years. From being an engineering manager to becoming the chief technology officer, Amod has played a crucial role in Flipkart's success.
As the co-founder and engineer at Udaan, an organization that is redefining B2B commerce in India, Amod has only substantiated the wonders of technology. It doesn't end here. He has also served as the vice president of engineering at ApnaPaisa. Through these involvements, Amod has shown that an individual with technical expertise can make it big as an entrepreneur.
Amod Malviya - Education and Ideology
A graduate of the prestigious Indian Institute of Technology, Kharagpur, Amod takes keen interest in startups and entrepreneurship. His ideologies revolve around engineers. During a conference, he spoke on an ideology which deemed engineers as differentiators. According to him, the type of code one writes is not a differentiator.
While talking about infrastructure, he said that the ability to build scalable architecture was also no longer a unique factor. With the current public cloud ecosystem, one has to be stupid to not create naturally scalable systems. Moreover, the platforms used to create such infrastructures are commoditized.
According to Amod, technology has been commoditized at a rapid pace. If an engineer is identified by a tools, framework, or skillset, then he or she is being commoditized. Engineers go way beyond this identification. The ability to think through scenarios usually seen as impractical and turn them into reality makes engineers a rare breed.
Amod Malviya - Questions that Differentiate Engineers from Code Monkeys
Being an expert in the field of technology, Amod put forth a few questions to developers in a conference. These questions compelled the developers to wonder whether they were creating products that benefit the ecosystem or were they just "coding monkeys". The questions were:
- Are you responsible for the success or failure of the product you develop? Are you just an extension arm of someone who directed you to what to do? Do you hold yourself personally accountable? Plethora of companies treat engineers as delivery products.
- If you are responsible for the development of a product, when was the last time you spoke with your customer? Who in your team speaks to your users? Is it your product development team or you?
- How much time do you devote to analyze how your customers are using your products? Is there someone else in your team who is doing that and telling you what changes you should make to develop your product?
According to Amod, the answers would help determine whether one was a real entrepreneur or just a code monkey.
Amod Malviya - The Future of Work Lies in Staying Connected with the Real World
Amod has shared some valuable tips for engineers who wish to make a mark in the startup circuit. One such tip is centered on identifying inefficiencies in the world.
Since most engineers are disconnected from the real world and remain lost in imagination, they fail to identify opportunities that call out for a complete transformation. Amod cites this is a reason for the abundance of non-technical entrepreneurs in India. These entrepreneurs keep their eyes and ears open to opportunities others overlook and then headhunt for a technical co-founder to conceive a solution. Engineers need to learn from opportunists and identify problems.
Another advice from Amod to budding engineers-entrepreneurs is to be accountable. One should analyze the problem, talk, draw opinions from the users, and continue developing the solution. All of this should be done while owning up to the consequences.
Amod also emphasized on building a tool craft. As an entrepreneur, one should explore the diverse set of tools available in the Indian startup segment. One can start his or her company using these tools. Those with existing ventures can level up through the use of such toolkit.
He also attributes the success of Indian startups to the internet. Distribution is massive in the era of the internet. One should remember that he or she is not the only one who has identified some inefficiency in a product or service. There are several others too. This competitiveness has spurred people to take action and come up with initiatives that create value for the society.
Amod believes that companies need to create the right kind of accountability. According to him, they also need to solve problems for the internal teams by creating in-house tools. Amod gave an overview of one such system currently in use at Udaan. The company measures engineers on their end impact on a business metric; hence, the management doesn’t shed excessive spotlight on delivery as the engineers are given that choice and flexibility.
Amod Malviya - An Inspiration for Many
Amod Malviya is a role model for millions of people, particularly engineers. While Udaan, the company he co-founded, continues to make giant strides, it is being ensured that the engineers employed by the organization are given complete freedom to develop and implement their ideas. Amod has proved that success is inevitable when knowledge and intelligence are implemented in the right manner.
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