Shashank Kumar
@shashank_kr
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Founder @Razorpay | IIT Roorkee Alumnus | Aiming to digitise Indian economy and businesses | Join us: shashank @razorpay .com
Bengaluru, India
Joined July 2009
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It's been 9 years of being at Razorpay and every month I am excited about building and launching a new product and feature. Today's launch is truly special because it took months of collaboration and has great potential of creating impact on digital commerce and payments…
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In the early days of a startup, don't try to hire rockstars. Instead, hire and bet on people who will grow and become rockstars along with you.
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When people ghost us post offer acceptance, I am always relieved that we dodged a bullet.
It's a short term impact on bandwidth but long term impact on culture.
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Happy to share, we at
@Razorpay
have raised $375Mn in our largest round till date at a valuation of $7.5B. This round is led by TCV, Lone Pine and Alkeon Capital and with participation of our existing investors including YC, GIC, Tiger, Sequoia etc.
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Starting today,
@RBI
new set of guidelines will become applicable for recurring payments via cards.
As the industry moves to the new standard, here is my take the new rules 1/n
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Happy to announce
@Razorpay
first international expansion with the acquisition of
@curlec_pay
, a leading Malaysian🇲🇾 fintech firm building recurring payments solutions for businesses. This is our fourth acquisition and the first in international waters!
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Happy to announce our latest $160M fundraise at $3B valuation led by
@Sequoia_India
and
@gicsingapore
.
We will continue our commitment to India, Indian businesses and digitisation and enable our customers in their growth now more than ever.
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Happy to share
@Razorpay
just launched it's Payment Gateway in Malaysia. This is the first country we have launched in outside of India and we are very excited about taking our first steps outside.
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If all your teams are crunched on bandwidth then hiring is not your challenge, strategy is.
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Rejections are part of life. Most of my most important yes have come after multiple rejections - our first customer, first investor, first hire and many more. Rejections should be normalised.
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RBI has allowed linking of credit cards with UPI.
Here is the link -
In my opinion, it's a very innovative regulatory move and innovation + regulation often don't come together in the same sentence.
🧵
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We as entrepreneurs are incomplete without our hard working team. Moments like these make everyday very special! 💯
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Humbled to announce that
@Razorpay
has raised $100M in a round led by GIC and
@Sequoia_India
along with participation from existing investors.
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When
@Razorpay
started, both me and
@harshil
were abroad and Harshil's mother was the initial director of the company signing off on the short term compliances of a newly formed company. I will forever cherish memories of the time spent with her.
May god give her peace.
We need to vaccinate everyone quickly but please keep looking out for your loved ones, they may still be at risk.
Lost my mom to Covid last week. She had got both doses of covishield.
She was the nicest soul and the reason for who I am today. May god give her peace.
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Taking a
@airvistara
flight from
@BLRAirport
new terminal for the first time and absolutely loved the greenery and garden vibe at every step!
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Just overheard "Do you want to sell pizza at 50% discount or do you want to change the country?"
Not kidding, definitely qualifies to be a
@peakbengaluru
moment! HT to the evergreen Steve Jobs.
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If you are thinking of applying to
@ycombinator
, me and
@harshilmathur
through
@Razorpay
Rize will be reviewing applications of Indian Founders and provide helpful feedback. Feel free to DM us or fill the form below.
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This is amazingly very true.
@ycombinator
took a chance on us when we were starting out from Jaipur and had barely any traction. But the partners still believed in the potential we have.
You never forget the first ones who backed you.
I was a silly kid trapped in Arizona with middle class wealth. Most of my friends and family humored all this computer stuff. I didn’t go to a prestigious university.
This is exactly why so many people are loyal to YC. You never forget who broke you into an industry:
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I started running last year in September. The actual trigger was the sedentary office lifestyle where I would barely cover 3-4k steps on a normal day. Compared to it, I would easily walk 15-20k on a good day on a vacation.
Running isn't a walk in the park. Early mornings,…
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Life is fragile.
A month ago, I had to read an obituary for a friend for the very first time. It was harder than anything I have had to do and way harder than anything I imagined.
Let's not forget to love and take care of each other for the short time we are here.
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Equity is the best lever for wealth creation in the startup ecosystem. And we will create 1000+ millionaires from within
@Razorpay
.
Happy to announce
@Razorpay
's 3rd and largest ESOP buyback worth USD 10MM(70Cr) with 750 of our current & former employees eligible to participate. There is nothing more special than wealth creation for the team that has helped us get where we are.
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At
@Razorpay
, today we are launching a MoneySaver Export Account. It’s a global smart bank account for international bank transfers – and let me tell you why it’s awesome.
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No one is ever “ready” to become an entrepreneur & that’s completely OK.
@Razorpay
, once a by-product of several brainstorming sessions is a reality b/c of the leap of faith we took (1/n)
#Entrepreneurship
#WorldEntrepreneurDay
#SomeMistakesAreGood
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I have a refund joke but you will have to wait for 6-7 days.
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I am excited to announce
@Razorpay
acquisition of Billme (
@wearebillme
), a leading startup in the Digital Billing and Customer Engagement space.
(1/n)
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A wholesome Sunday morning in the ever pleasant Bangalore weather -
7.5k Run at the beautiful Agara Lake
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Thanks
@mrgirish
for the inspiration. It's a time to remember and to cherish.
More than 100 Indian startups will be ringing the IPO bell in next few years and many entrepreneurs soon will follow in your footsteps!
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In competitive societies, it's difficult to just stop competing and start learning.
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Many of our best people be it engg, product or sales are not from the top colleges and many have very unconventional paths in life but they end up finding a home with us.
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The win probability for today's match by
@ESPNcricinfo
tells the story.
Today's win feels like a miracle but its a lesson to not give up, keep believing, back yourself and give your best.
It's a win for the ages an inspiration for a lifetime. Happy Diwali 🪔
#INDvsPAK
#KingKohli
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You either learn to manage your own time, or let it manage you.
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At
@Razorpay
we have created many such rockstars over time. And we will create more of them in future.
Hiring people ahead of their growth curve and giving them freedom and space to fail has helped us keep scaling at every stage.
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A lot of talent in India is hidden, waiting to be discovered and you should build your own capabilities and networks to unearth them. Many of these folks are not from IITs/IIMs or working in top companies.
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Just like angels/VCs search for unproven founders whom they want to back, founders and leaders should scout and back people who are hungry for growth but are unproven.
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We just launched support for
@RuPay_npci
credit card on
#UPI
in partnership with
@NPCI_NPCI
. Credit delivery through UPI will help boost the credit ecosystem in India.
🔊Innovation update 🔊
Super excited that Razorpay is the first payment gateway to support Credit Cards on UPI 💳 ✨
Deep dive on the awesome feature here:
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We have been incredibly lucky to have
@shashankmehta05
with us
@Razorpay
since day 1. His imprints are present all over our products & cultural setup. He is the perfect example of raw talent becoming rockstar with time.
I am excited to see what he will do next and wish him best!
🚨 Major life update 🚨
After 8 amazing years of building
@Razorpay
from the ground up, it’s time for me to move on.
Not a lot of people have a first job that changes their life's trajectory, but I'm grateful for this incredible journey and the opportunity!
(1/7)
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Most businesses want you to spend more time on their apps. We think otherwise. Introducing
@Razorpay
XPayroll Slack App, where you can execute HR & Payroll tasks right within Slack 🎉
We’re live on
@ProductHunt
right now!
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Mediocre talent is the easiest to hire and most difficult to let go.
Most companies just trudge along with normal distribution.
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Took few years to get here but extremely happy that we have been able to release support for multi-currency cross border payments. There is still lot of work ahead but we fully intend to help accelerate growth of exports from India by reducing friction in payments.
Here's some news as big as the 🌏
Introducing 100+ Multi-Currency Support:
✅ Instant activation for accepting international payments
💰 Accept $, €, AED and more through Razorpay
🛩️ Stop paying hefty fees to take your business global
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We need a Chief Meme Officer!
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Friendship ages like fine wine.
20 years with this bunch!
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We just launched Turbo UPI at
@Razorpay
- 5x faster UPI payments (as if it wasn’t fast enough already). Check it out!
UPI is fast, but we’ve made it faster ⚡
Introducing Razorpay Turbo UPI⚡ ridiculously fast and simple 🚀
Built to get your business:
📈 Boosted conversions
⬇️ Fewer drop-offs
💳 Reclaimed checkout
📊 Data-driven insights
🔁 Reduced Dependency on UPI apps
Get started on…
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We just welcomed Pune based fintech startup IZealiant into the Razorpay umbrella! This is our second acquisition this year and fifth overall.
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In short, the new
@RBI
rules are beneficial for the consumers and businesses but will cause disruption short-term. It's a great step forward in helping bring India to an era of a digital-first economy, driven by safer payments, increased convenience & a seamless experience. 13/n
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Between me and
@harshilmathur
, we were able to conduct about 50 mock interviews.
Happy for the folks who got selected for
@ycombinator
, and hope we played a small part.
For all the others, don't lose hope, keep going and make something people truly want! 💯
Indian founders who have been selected for
@ycombinator
interviews, congrats and feel free to DM me. Me and
@shashank_kr
would try to do few mock interviews next week to help.
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Did my first plasma donation today.
Thank you
@RotaryTTKBloodB
and team for inspiring with your great
#covid
work and dedication. Dr Samina
made the whole process seamless and comfortable.
Sincerely urge all covid recovered folks to consider donating.
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The ability to savour the wins and move on from the losses often determines how happy you are as a person. Sometimes when going to sleep I try to remember one reason to be happy about and that makes all the difference!
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Seeing the team rewarded for the hard work is the most awesome feeling in the world! 😎
We hope to do stock buybacks at regular intervals and ensure everyone in India starts valuing stock options as instruments of financial growth and not just a piece of paper.
Good news for
@Razorpay
employees. Around 140 of them cash in their ESOPs with Tiger Global, reports
@BiswarupGET
#ETtech
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However, dozens of founders, leaders and recruiters still reach out to the same set of rockstars everyday and fail to elicit responses or match their comps and then reverberate about the tough hiring market.
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I have always loved meeting founders since our earliest days.
@MarsShotVC
is a way for me and
@harshilmathur
to give back to the community. And it's our way of connecting and learning from the new things happening in the ecosystem.
Hello, world! We are on Twitter now.
But who are we? We are a bunch of operators from
@Razorpay
who felt that there’s more that we can do to help the startup ecosystem of India.
So we decided to create an angel fund to mentor and invest in startups!
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If I heard this testimonial from a customer of some other company, I would have thought it's a paid one. Yes, it's that good, do listen once.
Thanks
@warikoo
for being an amazing customer ambassador for us.
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For the past 10 weeks, I had fallen into the habit of opening ET to see our AI generated ode for the founder of the day 🙂. While the campaign ends today, the results have been amazing.
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It's a special feeling to be recognised by your alma mater especially in the distinguished company of
@rajivkjayaswal
, Subhash Chandra (Chief Election Commissioner),
@mohitsax
and
@ketankapoor
. Feeling grateful and humbled. Now, geared up for the road ahead!
Congratulations to Mr. Shashank Kumar. A recipient of Distinguished Young Alumnus Award 2019 of IITRoorkee.He is CTO & co-founder of
@Razorpay
. He has received honours like
@FortuneIndia
40 Under 40List
@Forbes
30 Under30 list. Kumar completed . CSE in 2012
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“There was a lot of emotions in that dressing room. It was tough to see as a coach, because I know how hard these guys have worked, what they've put in, the sacrifices they've made. But that's sport. That happens. It can happen. And the better team won on the day. I'm sure the…
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Building a company is not always glamorous.
#TheBillionDollarCode
by
@netflix
is a great watch and provides a good view to the dark side of entrepreneurship, something that we often miss in the daily fundraising headlines.
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Being an entrepreneur is a lifetime's work.
While everyone celebrates the funding milestones and success metrics, it's really the hard work, grit, the daily grind that are truly worth celebrating. It's the founder's spirit and entrepreneurship journey that should really be…
Being an entrepreneur is a lifetime's work.
We've done our best to capture a piece of it. To those who've lived it and to those starting, here's a glimpse of the journey
We want you to
#believe
that we’re walking with you.
#NationalEntrepreneurshipDay
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Many startup engineers, employees and
#Millennials
will be placing their first IPO order! Very exciting times ahead for Indian startups.
Huge congrats to
@deepigoyal
@pankajchaddah
and the whole Zomato team 🚀📈
#ZomatoIPO
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Proud and excited to announce
@Razorpay
Series C round and welcome
@RibbitCapital
and
@Sequoia_India
as our investor and partner.
We are committed to the acceleration of digital ecosystem growth in India and helping businesses with their end-to-end finance requirements.
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Our history books have always been very Delhi centric.
History should be taught showing the arc of progress for humanity, science, culture and politics over 5000 years. People rarely appreciate how far we have come along and how much progress can happen in a lifetime now.
Cholas. : 2100 Yrs
Ahom. : 700 Yrs
Chalukyas : 700 Yrs
Pallavas : 600 Yrs
Rashtrakuta : 500 Yrs
Vijayanagara : 400 Yrs
Yet all we have been taught in textbooks is about Mughals (200 yrs)
Ever thought Why?
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But long term, unlike most developed countries, in India consumers will be able to cancel autodebit mandates at the click of a button from a single place.
8/n
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Will forever remember
@imVkohli
captaincy for the passion he brought to the team and for giving the hope and belief that we can win anywhere! We need the same passion and belief in everything we do as a country.
When Virat took over as Test captain, India winning a test overseas was an achievement, now if India lose an overseas test series it is an upset. And that's how far he has taken Indian cricket forward, and that will be his legacy. Congratulations on successful reign
@imVkohli
👏🏻
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There is a strong emphasis on the need for secure
#digitalpayments
in India & to enable consumers to place their trust in the
#digitaleconomy
. Now, all banks are going to provide a dashboard to consumers to check the mandates they have registered with merchants instantly 4/n
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Completed another 10k with
#TCSW10K
Bengaluru run yesterday.
Kudos to thousands of people who showed up at the run at 5 am in the morning with infectious energy and enthusiasm! Thanks to
@TCSWorld10K
for running a smooth event.
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Let us handle your payroll & compliance so you can focus on your business!
@twitellectual
has the best expressions to show how founders feel frustrated when dealing with payroll!
#payrollfixed
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Congrats
@Ishaanmittal2
! You have been an amazing partner to
@Razorpay
and completely changed my perception on how helpful and understanding an investor can be.
We are excited to welcome 5 new MD’s to our leadership team, a move that underscores our commitment to serve founders better across stages & sectors. Congrats
@dvbydt
,
@HarshjitSethi
,
@Ishaanmittal2
,
@i_sakshichopra
and
@tejeshwi_sharma
on your promotions!
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Had to visit
@NIMHANSIndia
Bangalore today with a relative. At this point, we have taken tickets from 4 different lines in 3 hours and yet to see the doctor.
The amount of inefficiency that can be solved through technology is extremely high and needs govt. attention
@MoHFW_INDIA
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Trust of customers, makes every hardship worth it 💯
100% of D2C brand purchases I've done in the last year, had Razorpay on checkout. Be it Product pull or Sales push, might as well declare it India's National PG and be done with it 🙂
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Till date, rules on recurring payments via cards were not clear. Recurring payments worked on credit cards but not on debit cards. There are 900 million debit cards that are now eligible for supporting recurring payments under the new guidelines. 2/n
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Our education system doesn't teach us how to handle failures well. Even though all of us go through failures and there is no escaping it.
The regular academic life has a set path where you are excpected to progress at a steady pace otherwise you are left behind. The high…
Strangulation by your own achievements
Was discussing with friend from BCG, who spent enough years in consulting, the matter of the McK analyst who ended his life. It’s your own CV that strangulates you.
A string of academic successes, Top rank at school, a top IIT degree,…
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To the team
@Razorpay
that works hard and helps us win recognitions!
It's never about one person but the team that keeps going above and beyond 🙂
Thanks
@FortuneIndia
for the honour 🏆
#FortuneIndia
#FortuneIndia40U40
#Razorpay
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@gokulns
You will be surprised that it doesn't 🙂
And for junior folks, it shouldn't too, they should get more chances.
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"It's hopeless but you should try anyways"
And try we must! 💯
Network Exclusive | Can a startup from India create a foundational model, building on a system like ChatGPT?
ChatGPT Founder Sam Altman answers the question by Peak XV Partners' Rajan Anandan; WATCH
@RajanAnandan
#ChatGPT
@sama
#AI
#ETChatWithSamAltman
@OpenAI
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What areas
@Razorpay
can focus on to improve lives of SMEs as businesses look to begin operations again?
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This is a massive change and along with the UPI Autopay, it will open the floodgates for recurring payments and subscription economy in India. 3/n
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Every Product Manager is a self-contained product roadmap. Hire good roadmaps! 😇
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"A black Ford Mustang, a lal battiwali gaadi and a unicorn called Razorpay" ... a fabulous feature by Darlington on how we got going in the early days of
@Razorpay
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Very well articulated by
@bhogleharsha
on the "New India" and the attitude to go for the win!
We must ensure this change is not limited to the top 10% and the Tier 1/2 cities but reaches the roots of the country.
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"Job hopping mindset (for few %) kills the long-term high hitting career opp" - this is truly underappreciated. Most leaders and execs are known for their loyalty and relationships they build in their career.
Few things are clearer:
1. It takes min 10 years to build career
2. Job hopping mindset (for few %) kills the long-term high hitting career opp
3. Good role in high growth co./start-up > salary, position etc in legacy
4. Talent retention in India > Indian talent outside
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A lot of folks in the ecosystem we talk to have negative impression of esops due to past experiences to the extent that they severely undervalue it. We are doing our bit to change that second year in a row 🙂 ... Plus, always good to see people who work so hard to be rewarded.
Two startups -
@Razorpay
&
@moglix
- are generating wealth for their employees through an ESOPs buyback program, a rarity in an ecosystem where liquidity events are far and few in between
@harshilmathur
@ragarg
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After months of effort, happy to announce
@Razorpay
has received ISO 27001:2013 certification. As a start-up it's always tough to focus on compliance and certifications, that too voluntarily. But commitments to security good practices pays off in the long term.
We are pleased to announce that Razorpay has received the ISO/IEC 27001:2013 certification. This reinstates the confidence that our customers and partners have vested in us, when it comes to data security and protection of confidential information
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Razorpay continues to invest in India's largest business
#neobanking
platform.
Latest launch🚀- Payout Links for processing instant payouts⚡️ to customers/vendors without collecting any bank account details.
RazorpayX Payout Links is here! 🚀
Now businesses can process payouts instantly without manually collecting bank account details.
Simplify payouts like:
🛒 CoD refunds
🎮 Customer Rewards
💰 Security deposit refunds
💼 Vendor Payouts
Learn more at
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An appreciation thread for Indian banks which went above and beyond during the
#yesbankcrisis
!
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For India to become a $5 trillion economy by 2025, we need a lot more entrepreneurs.
To encourage more founders to startup, we recently launched with the goal of incubating 1 lakh digital businesses - more than all the incubators put together across India.
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Humbled and excited to see
@Razorpay
on the
@ycombinator
Top 100 list. Thanks YC for the amazing support over the years.
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Wealth compounds with distribution to people who can help grow the company/wealth exponentially.
Wealth creation from ESOPs is still considered a lot more like lottery & for very valid reasons too.
Ultimately, whether it is a lottery or not comes down to one thing primarily:
*founders attitude towards ESOPs*
This is an appreciation thread for
@harshilmathur
@shashank_kr
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Our team
@Razorpay
is hard at work enabling NGOs and essential businesses to do what
they do best & help out during a time of crisis such as this one. I have no doubts that
there is always hope for something better, if we work together.
#Covid19Relief
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Handling employee insurance is cumbersome at any stage. We are now making it a one click process. And making it available at transparent prices whether you have 2 employees or 2000!
Thanks to
@getplumhq
and
@ICICILombard
for helping stitch together an amazing experience 🙌
Excited to announce that
@getplumhq
has partnered with
@Razorpay
and
@ICICILombard
to launch Employee Health Insurance for users of RazorpayX Payroll.
👉 Sign up today!
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With all that said, we are just getting started and there is a long road ahead. Buckle up and let's get back to work!
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There will be a short term pain of 3-6 months when banks take time to integrate with
@Razorpay
's MandateHQ to launch support for recurring payments for their consumers.Some banks have gone live while others will take few months to cross the finish line.7/n
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Doing
@ycombinator
mock interviews on weekend is a lot of fun, inspiration and a vibe.
Founders ooze so much optimism that they carry against the odds to launch and reach PMF.
If you want to schedule one, feel free to DM or fill the form below.
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"The only thing I have done in my life is buy low, sell high" -
@Nithin0dha
on investing.
#FTX2021
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While the Yes Bank moratorium came on a bit suddenly, I definitely want to thank our RMs and friends at the bank who have supported us through the years.
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Two interesting customer meetings in a day -
* A large govt institution, looking to digitise their collections
* A tech unicorn struggling and yet ramping massively on digital payments
The digital payments growth and journey continues.
#DigitalDesh
#cashlessindia
@Razorpay
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