Deloitte Senior Consultant Adarsh Samalopanan questioned the celebration of Kunal Shah's entrepreneurial journey due to continuous losses and lack of profitability over his 15-year career.
Kunal Shah co-founded Freecharge in 2010, which incurred significant losses despite being acquired by Snapdeal for Rs 2,800 crore and later purchased by Axis Bank for Rs 370 crore, a fraction of its earlier valuation.
Shah's current venture, CRED, has amassed Rs 5,215 crore in losses with Rs 493 crore cumulative revenue over seven years, spurring debates on the celebration of unprofitable ventures and inflated valuations.
Reactions to Adarsh's post varied, with some defending Shah's market-changing impact in digital payments and premium credit experiences, while others questioned the valuation metrics and profitability of such ventures.