MobiKwik CEO Bipin Preet Singh says 'South Delhi was too expensive,' so he moved to Dwarka
When Singh decided to start MobiKwik, he moved out of his south Delhi home in order to save money. He also shared that the rent was expensive in the area.
Bipin Preet Singh, co-founder and Chief Executive Officer (CEO) of MobiKwik revealed the struggles he went through when he started the company. In a conversation with Masters' Union, Singh recalled how he had to move out of his South Delhi home to save money and grow his business.
Singh that he had the idea that the telecom industry is going to change the way in which people "live their lives and use money" thanks to the Internet. When Singh finally decided to start MobiKwik, he moved out of his south Delhi home in order to save money and fund his business.
Singh said, "We had an apartment in South Delhi earlier, but then we figured out that South Delhi was way too expensive - to pay the rent and run a startup. Then we moved to Dwarka. That apartment where we lived on rent, I still remember it was ₹10,000-12,000 rent. It was the first office, in a way, of MobiKwik. Because that's where we hired the first person." (Also Read: Mobikwik refiles draft IPO papers with SEBI to launch ₹700 crore issue; check details)
Watch Bipin Preet Singh's video here:
In the video, he further shared that they hired an enthusiastic employee who would come to work at 7:30 am. "In the drawing room, we had these tables set up. We hired another crazy guy who wanted to come at 7:30 in the morning, so he used to ring the doorbell. You would open, and he would come and start working. So that's what it takes. Basically, to bet everything that you have, your life, your everything to start something on your own," said Singh.
