Beerud Sheth: A Journey of Perseverance, Entrepreneurship, and Humility

Beerud Sheth‘s entrepreneurial journey is a testament to the enduring spirit of innovation, resilience, and the pursuit of excellence. A brilliant mind with a relentless passion for creating something new, Sheth’s path to success has been a rollercoaster of highs and lows, ultimately leading him to the prestigious club of unicorn startups. This is the story of a man who never lost his hunger for success.

At the young age of 28, Sheth made a bold decision to leave his lucrative Wall Street career, having worked at Citibank and Merrill Lynch for four years. Armed with an engineering degree from IIT-Bombay and a master’s from MIT, he ventured into entrepreneurship by founding Elance in 1998. Elance aimed to create an online marketplace for freelancers, driven by Sheth’s desire for intellectual stimulation, a stark contrast to his previous finance-focused roles. Sheth’s journey began with immense promise. His visionary startup attracted early investors who poured millions into Elance. It was a time of euphoria as the young entrepreneur believed he was destined for greatness. But, as we know, entrepreneurship is never a straightforward path.

In the early 2000s, the dotcom bubble burst, and the world plunged into a recession. Money vanished from the system, and Sheth’s aspirations came crashing down. In the wake of this economic turmoil, Sheth realized the first critical lesson of entrepreneurship – some factors are beyond one’s control. However, he was determined to bounce back. In 2005-06, Sheth co-founded SMS Gupshup, a mobile-based community platform. The platform allowed users to join interest-based groups and receive updates via SMS, garnering a whopping 70 million users in just three years. But, once again, the road was rocky. In 2011, the company faced a severe cash crunch due to overspending on subsidizing user messages. This setback offered another valuable lesson – adaptability in the face of adversity.

To avoid impending failure, Sheth and his team made a critical pivot. SMS Gupshup rebranded as Gupshup and shifted its focus to enterprise messaging. The platform enabled businesses to engage customers through messaging, handling various aspects of marketing, sales, and support systems. It was a transformation that saved the company from extinction. Fast forward to April 2021, Gupshup achieved unicorn status with a valuation of $1 billion. Just three months later, another funding round elevated its value to $1.4 billion. Gupshup now powers over 6 billion messages per month, with an annual revenue of ₹760 crore and an Ebitda of ₹77 crore in FY21. What’s remarkable is that it has reached this milestone as a profitable unicorn.

Despite the excitement of entering the unicorn club, Sheth remains grounded. He recognizes the cyclical nature of entrepreneurship, where both successes and failures can be temporary. The lessons he’s gathered through decades of experience emphasize the importance of humility in navigating the unpredictable terrain of business. Sheth’s journey isn’t defined by age; it’s characterized by a relentless passion for innovation. Even at 51, he’s unwavering in his drive. He emphasizes that one should neither be carried away by euphoria nor crushed by despair. The key is to maintain a balanced perspective.

With maturity and experience on his side, Sheth has developed a keen sense of urgency and importance. He no longer feels compelled to respond instantly to every email, understanding that time management is a skill honed with time. In his mid-50s, Sheth believes that he’s learned to distinguish between what he can and cannot do. This self-awareness, he believes, is a superpower, and it’s what founders in their 50s bring to the entrepreneurial arena.

Beerud Sheth’s journey is a compelling narrative of determination, humility, and an unwavering appetite for success. His story exemplifies how entrepreneurship can be a lifelong pursuit that thrives on adaptability, resilience, and, above all, the relentless pursuit of innovation.