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Meet man who started business from ordinary flat, now runs Rs 16000 crore company as...

Business success cannot be attained quickly. It calls for bravery, tenacity, and passion. This is the tale of a person who, despite all obstacles, turned an outdated flat into a profitable business worth Rs 16,000 crore in just four years. His name is Sumit Gupta, and he started his venture in a modest flat that now stands as an empire. Let us enlighten you about his tale.

In 2018, it all began in a modest Mumbai flat. Indian Institute of Technology (IIT) Bombay student Sumit Gupta and his college buddy Neeraj Khandelwal dreamed of accomplishing great things. His savings lasted only three months. They were having trouble making ends meet. Despite these challenges, he set out on a path that quickly elevated him to the status of one of the nation's most prosperous businessmen.

Sumit was employed by the Japanese electronics and technology company Sony prior to this business trip. At the same time, Bitcoin was becoming more and more popular worldwide. Sumit began to see the possibilities of blockchain technology. Neeraj, a longtime friend, was aware of this perspective. Neeraj had a role in the family business of Sumit. They had known one another since Kota's JEE (Joint Entrance Examination) days. Afterwards, they were accepted to IIT-B together.

He began researching the market for nearly four years before launching CoinDCX in 2018 out of an old Mumbai flat. They persisted in their journey in spite of early setbacks and India's undeveloped cryptocurrency market. Their specialised cryptocurrency trading platform quickly evolved into a marketplace for goods and services.

The global COVID-19 pandemic presented a significant obstacle for businesses everywhere. But even in those trying times, CoinDCX was able to prosper. The company reached a $1.1 billion valuation by 2021. It thus turned into the first cryptocurrency unicorn in India. Over 600 people work for CoinDCX as of right now. It caters to 1.5 crore users. In just four years after its founding, the company's valuation surpassed Rs 16,000 crore following another round of funding in April 2022.

Source : DNA India

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