Anupam Mittal opens up about investing in Porter, predicts company could hit Rs 33,000 crore valuation: ‘Will I wait till then?’

Anupam Mittal spoke about his lucrative investments in Ola and Porter, as he opened up about why he initially thought ride-sharing cabs would be a 'bekaar' idea in India.

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Shaadi.com CEO Anupam Mittal during a recent episode of Shark Tank India season 3. (Image: SET India/YT)

Shark Tank India’s Anupam Mittal opened up about his investment journey, and looked back on his smart decision to get into the mobilities industry. Anupam was an early investor in the ride-sharing company Ola, and revealed in a new interview that he could’ve exited Porter if he wanted to recently, but believes he stands to make more money if he’s more patient.

In an appearance on the Barbershop podcast, Anupam said that because he’d spent a decade in the US, he had an understanding about the trends that were certain to start in India. “I am, generally speaking, overtly optimistic. As an entrepreneur, you have to be. And that’s how Ola also happened fairly early on,” he said. Asked how he came to invest in Ola, Anupam said, “My friend told me about it, and asked if I’d want to consider being a part. But you know how it is, your own experiences shape your understanding of things, and I couldn’t imagine how someone would have any difficulty hailing a cab. I’d lived in Mumbai, where you can get a ride as soon as you step out of your house.”

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But, as luck would have it, Anupam was in Delhi at the time, and realised that getting a cab could actually be difficult for some people. “So I started calling Bhavish Aggarwal’s call centre, and half the time he’d only answer the phone. That’s how things are at the beginning. I found him to be passionate, determined, and I decided to invest Rs 20-3o lakh.” In a recent interview with CNN-News18, Anupam said that he exited the company with ‘several hundred crores’.

Anupam also spoke about investing in Porter, which recently hit a valuation of over Rs 3700 crore. “Porter is killing it. And see, you can’t always take an exit. With Porter as well, I could’ve exited at half-a-billion north. But I know with Porter, there’s dominance, there’s network, the team is solid. Many players have exited this industry after accepting defeat. So, I believe this is a $4-5 billion outcome. Will I wait until then? Probably not. But maybe the next year I’ll get out.”

Anupam can currently be seen on the third season of Shark Tank India. He has appeared in every season of the reality show, alongside Aman Gupta, Namita Thapar, Vineeta Singh and Peyush Bansal.

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