Ecommerce, News

Erstwhile President, Rahul Sethi decides to plunge into e-enterpreneurship

Rahul Sethi - President ECom. - Ibibo

Rahul Sethi

Indian eCommerce industry is growing very fast and trend of deserting the plush professional career and step in to riskier and volatile space of entrepreneurship is also growing. Enticed by the growth with intent to fill the gap of growing demand in Indian eCommerce industry, one of the experienced, young and seasoned senior executive from Indian eCommerce industry has taken the plunge in to entrepreneurship. Rahul Sethi, the erstwhile, President of joins the bandwagon of e-entrepreneurship. iamwire exclusively caught up with Rahul to know more about his venture’s, status quo, plans and expectation. Here are the excerpts of the brief interaction.

What is the motivation to become an entrepreneur?

The opportunity is the motivation. At this point of time in my life, I decided to increase my risk coefficient and go for riskier opportunities with commensurate returns. The decision is very well planned and thought through. In fact I had decided on this route couple of months back and during this period I was working with my CEO on a smoother transition out of my role at ibibo. Tradus Shopping and Classifieds businesses are growing at a very high trajectory and at this point of time the number 1 objective for me was smoother transition so the ball doesn’t drop & Ibibo management has been very support during this period.

Why Entrepreneurship – At present, Indian ecommerce industry is growing with immense momentum and I firmly believe that inspire of so many new initiatives getting launched practically every week; the market is undeserved and there is potential and scope to accommodate new businesses. We have identified few gaps which need a little deeper evaluation before we take a plunge and go after them to create winning businesses.

What is your venture all about and what stage you are in? Throw some light

Very early stage at this point; in fact we have started to work on this project only since last 3 days. (Friday, 23rd Sept. was my last working day at ibibo).

The only two things clear at this point of time are –

  • The founding team. Yes – I have a co-founder and collectively we have 25yrs plus experience in the domain and have complementary skills. I have known my co-founder for last few years and we have good compatibility and go along well.
  • We would be focusing on a particular vertical and going deeper in it to create value for the end-user.

Apart from this we are already on a look out for good entrepreneurial talent who would be keen to partner with us on this project.

How is the venture being financed? Are you also looking to raise funds from VCs?

As of now the ventured is self- financed and we are not looking to raise any funds. Once the website is up and running and we hit certain threshold of transactions we might want to go for fund raising.

How do you see the trend of like minded professionals deserting their plush professional career and foraying in to e-entrepreneurship?

Internet industry is growing very fast, entry barriers are low and the innovations levels are very high. This certainly means that we would see the lot of individuals who can increase their risk coefficient would take entrepreneurial route in the near future.

E-Commerce industry in India – with the pace it is growing; existing players would not be able to absorb all the demand and would leave scope for new entrants. In addition – with initial phase of technology becoming a commodity (through open source options) the cost of setting up a business is comparatively very low and according to me, this is a right time to take the plunge into burgeoning Indian ecommerce space. And Believe me, it’s a different sea of opportunities altogether.

 In coming two – three years I am sure that more professionals would hop on to bandwagon of e- entrepreneurship.

Have content to share? Share with us for review