Let's Build a Company by Harpreet Grover

Author:Harpreet Grover
Language: eng
Format: epub
Publisher: Penguin Random House India Private Limited
Published: 2020-03-13T00:00:00+00:00

We forwarded the same to the India team at Aon.

Then Vibhore and I went out for a beer.

fifteen

project dollar

Nitin called us within an hour. We had just finished our afternoon beer. He said that while he was surprised to see the email, he understood where we were coming from. He added that we should hold on till the end of the day.

In another couple of hours Nitin called to say that a meeting had been set up for the evening. The head of M&A was keen to speak with us. We agreed to take the call. We lost nothing by doing that.

On the call, Aon shared that they had been involved in doing a big deal in the US and hadn’t had the time to spend on us. But this was important for them. And they wanted us to move forward. We responded by saying that it had been a year and a half since we had begun discussions, that this slow movement was distracting for us. Also, in the first half of the year we had grown by 63 per cent, so the existing valuation didn’t work. Aon said they were willing to look at all this if we could share our updated projections for the future. By midnight, we had sent them our future projected revenue, which was almost double of what we had submitted earlier.

In hindsight, the size of the deal was both a boon and a bane. Because the deal size was not hundreds of millions, it could be done and led from India. But at the same time, because the deal size was small, it didn’t get the attention of the global folks in the large company we were talking to.

Aon US scheduled a call over the next two days, sharing that they were considering the new data and would need two to three weeks to get all the approvals to give us a term sheet. We said all right and waited.

Mid-October, at the Mumbai airport, waiting for our flight back to Gurgaon after a meeting with a private equity firm, we got our first official letter of intent for buying what we had built over ten years.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.