Part 1: Saahil Goel of Shiprocket on rebuilding the same company three times, the $4 million he was told to take or leave and why in India you sell outcomes, not software

Part 1 of 2. Most people date Shiprocket to 2017; in truth it was born in 2011, and the road there runs through two companies called KartRocket and Craftly. Saahil Goel walks Rohin through the build: Rs 15 lakh of their own money, nearly not being hired by their own first engineers, the hard lesson that in India you sell outcomes not software, an investor ultimatum to take $4 million or nothing, and by the end, just how much capital it's taken to get from that first office to the edge of a public listing. Part 2 gets into how he actually thinks.Chapters0:00  The company that started in 2011, not 20174:01  KartRocket: building an agency to learn the market6:09  Bootstrapped on Rs 15 lakh9:02  Why Indian SMBs wouldn't pay for software17:58  “Take $4 million or nothing”22:38  How Shiprocket was born27:06  What Shiprocket actually is — and how it makes money37:58  The IPO, and the state of the business44:19  Quick commerce without owning a truck48:42  From Delhi to a US career — and back55:59  Lessons from failed fundraises1:04:23  How much they've raisedThis episode was produced by Rohin Dharmakumar and mixed and mastered by Rajiv CN.Write to us at fp@the-ken.com with your feedback, suggestions, and guests you would want to see on First Principles.If you enjoyed this episode, please help us spread the word by sharing and gifting it to your friends and family.