Sramana Mitra: The India e-commerce market is an active market, but it still operates on this cash-on-delivery mode. Are there indications that this is going to change and people will feel more comfortable with providing credit cards on the internet? That’s going to accelerate the trends. Sasha Mirchandani: It has to change. It’s a mindset
Nathan Lustig: Another company that fits that model is a company called GroupRaise, which went through Startup Chile. They’re originally from Houston. They now have an office with eight people in Houston, about 15 people in Santiago, and about 40 in the Philippines. What they do is they allow anybody to book an event at
Sramana Mitra: One thing you haven’t mentioned about this company is the business model and the monetization. What validation did you have that these 500,000 downloads were actually converting into paying customers? Sandeep Singhal: Good point. They had a $10 charge for deploying their client for curl. It was a command line interface that you
Sramana Mitra: Which companies would you call out as some of the best companies in the Indian tech industry today and the most likely ones to have successful exits? Sasha Mirchandani: Let me break that into two answers. I’ll talk about companies that I like in no particular order. I can think of Tracto. We
Nathan Lustig: I got a call from one of the founding members of the founding team of Startup Chile who said that there was a family office that was looking to diversify and get into tech. I met up with my now partner Francisco Saenz whose family had done well. They were the co-founders of
Sramana Mitra: I think there are some question marks that are coming up now that there has been some runway that the venture capital industry in India has had to play in the market. The other question out of that is the length of time it takes to grow a company in India. The traditional
Sramana Mitra: Same thing about MVPs. Are you looking for early customers that are international customers that they have built an MVP around? Sandeep Singhal: Yes. There are two ways to do this. You can work with the Indian arms of global customers. You can work with them in the Indian market but have a
Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Nathan Lustig was recorded in October 2017. Nathan Lustig, Managing Partner of Magma Partners, a Latin-America-focused fund. He talks about their strategy, as well as the dynamics of the LatAm market. Sramana Mitra: Tell