Many of you may have caught the One97-SAIF partners Mobility Initiative news by now. We are extremely proud of being part of an initiative like this. As a team that has seen this industry take shape, we realize that this is just a beginning. Life on the m-screen only gets interesting and better.
Since there are a few discrepancies in some stories being circulated in some sections of the media. Here is the link to the official release.
I remember when in 2001 I got my first customer for One97 and how few months away I was blown away by cash flow problems. My customer liked what we offered and delivered but the payment was not as prompt as I thought so. I did some Internet consultancy, made few websites/e-learning lessons for side revenues.
This cycle went on and soon when we thought of offering new services was important, there was significant cash crunch. I was shy enough not to be in Delhi’s Entrepreneur/VC circle and seeing no other avenue, I took loans. Loans from all those who could lend, my friends, my family, my family friends. Without any credit history banks were not there for any debt funding so these loans came at all costs including the biggest being the costliest (as high as 24% ROI) . And now I was cash crunched and had additional burden to service loan. (more…)
| Comments (1)
