How did Udaan come into the market?
UDAAN Startup Story: Besides having many firsts to its title, the startup perhaps is the only one of its kind which does not have a CEO. And according to the founders, it is more a matter of choice than by chance.
Co-founder Vaibhav Gupta says,
“It’s definitely by choice. Because we believe if things are working, then we should not unnecessarily be changing it. We have a strong team working with us where we are able to decentralise a lot of decision making.”
He adds that there is power in multiple intuitions working together, and that is working in Udaan.
What was a challenge?
Talking about the power of decentralization, Amod Malviya says,
“There are a lot of companies who are far more mindful of the power of decentralization. We look at most things on a first-person basis and a need basis. We actually don’t have titles across the organisation. There is a power that we have sensed that comes from focusing only on the merit of the discussion and not the title of the person who is talking.” Why the no CEO concept?
According to Amod, not having any of these designations at Udaan is a hugely freeing concept.
“The only real thing that matters is what is the benefit we are actually creating for our users,”
Vaibhav adds that there is a good and a bad side to everything. And having a CEO doesn’t solve everything, but might actually create its own issues. He says,
“When we started Udaan, we were very clear that we are going to go after a very big problem and build out a great product and a great service, scale it, and win the market.”
The startup said today it has raised $585 million in a Series D round from Tencent, Altimeter, Footpath Ventures, Hillhouse, GGV Capital and Citi Ventures. Existing investors Lightspeed Venture Partners, which wrote its first check to the startup back in 2016, and DST Global also invested in the round.
Looks to us the Udaan is truly flying with its colors and the bounds are just sky high.
The organization sounds as either there is no leader to the self trained and goal oriented people. Their future is not farther away from branching out into different dynamics of marketing.
However, let’s wish them all the best.