LinkedIn Debate Erupts Over Kunal Shah's Entrepreneurial Journey and CRED's Losses
A LinkedIn debate has sparked over the entrepreneurial journey of Kunal Shah, founder of CRED. Samalopanan, a Deloitte senior consultant, questioned celebrating Shah's ventures despite persistent losses and lack of profitability. Shah responded, defending the value of entrepreneurship beyond immediate profits.
Shah's journey began with Freecharge in 2010. Despite earning Rs 35 crore in revenue by 2015, it incurred losses of Rs 269 crore. In 2015, Snapdeal acquired Freecharge for Rs 2,800 crore, but Axis Bank later bought it for just Rs 370 crore, a fraction of its initial valuation.
Shah launched CRED in 2018. Over seven years, it posted cumulative revenue of Rs 493 crore but incurred net losses of Rs 5,215 crore. Despite these figures, Shah believes entrepreneurs should be celebrated for their vision and impact, regardless of external capital or immediate profitability. Some LinkedIn users agreed, praising Shah's influence on digital payments. Others, however, raised concerns about sustainability and profitability.
The debate highlights differing views on celebrating entrepreneurship. While Shah and his supporters focus on long-term vision and impact, critics question the sustainability of ventures that consistently operate at a loss. As of now, Kunal Shah's first profitable business remains unknown, as no relevant search results were found.
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