Moonshot

DBS Group CEO Piyush Gupta has built his reputation by transforming DBS from a Singaporean bank into one of Southeast Asia’s largest, with a market cap of over $90 billion. While he’s had a 40-year career in banking, he also had a short stint as a startup founder. We had the pleasure of hosting him at our annual growth equity conference, PitStop, in September 2023.

In this episode of Moonshot, Peak XV Managing Director Shailendra Singh speaks to Piyush Gupta about the lessons learned from his startup journey, and the approach he’s taken to leading DBS Bank.

Show notes:

• On leaving Citi to launch a startup [01:18] 
• Speed to market is overrated [03:54] 
• Make technology the core of your business [05:07] 
• Find the right partner [05:51] 
• Having a safety net is not always a good thing [06:30] 
• Change your attitude towards failure [07:39] 
• The fundamentals of being a great CEO [08:29] 
• Focus on your strategy and learn to say “no” [14:30] 
• Engaging with regulators and policy-makers [18:58]

Michelle Zatlyn, Co-founder, President, and Chief Operating Officer at Cloudflare, chats with Peak XV CMO Gayatri Yadav about building Cloudflare, the global powerhouse that stops 209 billion cyber threats a day. 

In this conversation, Michelle reflects on the initial struggle to garner support for Cloudflare’s offerings and emphasizes the importance of perseverance, especially in the face of skepticism from potential investors, customers, and employees. She delves into why founders should listen to their own voice and not be deterred by doubters. Michelle also talks about Cloudflare’s approach to customer acquisition as well as the evolution of the company’s go-to-market strategy. While talking about the complexities of building and scaling a company, she also delves into the importance of hiring the right people, as well as the leadership principles that guide her.

• Founders, it’s ok if others don’t see what you see  [04:19]
• Finding PMF isn’t always a slam dunk [07:20]
• Understand why potential customers don’t buy your product [12:53]
• The importance of tracking progress against a goal [16:29]
• Reimagining archetypes: “The world needs a new definition of leaders” [20:53]

Brands rarely interact directly with customers in the digital world, making it a challenge to create personalized customer experiences and retain clients. While working at a media company in 2013, Anand Jain, Sunil Thomas, and Suresh Kondamudi, were faced with the same problem. They struggled to find a product that could leverage data to meaningfully engage with customers. To address this gap, they set out to build CleverTap, an all-in-one customer engagement platform that leverages data, analytics, and automation to empower digital brands. In this episode of Moonshot, we speak with CleverTap's Anand and Sunil about what it takes for founders to build products that can adapt to changing markets.

Show notes:

• “What if it works?”: Find a spark to get you started [1:38]
• Adapt your product to changing markets and channels [5:25]
• What “build for the world” actually means [9:36]
• Co-founder dynamics: Give each other space and establish extreme trust [12:32]
• Hire the right people and then let go [16:11]
• Having a good VC-founder relationship [23:02]

Paying for things digitally is now a part of daily life – but this wasn’t always the case. In 2013, long before the reality of cashless payments had become the norm in many parts of India and the world, Amrish Rau co-founded Citrus Pay, an online payment provider built with a mobile-first focus. This was one of many ventures in his two-decades-long journey to pioneer India’s payment ecosystem in the digital age, culminating in his most recent appointment as CEO of Pine Labs. On this episode of Moonshot, Peak XV Managing Director, Shailendra Singh, speaks with Amrish about his early life and how it defined his approach to company-building, his transition from Citrus Pay to Pine Labs, and how building a company with a heart will help a startup as it scales.

Show notes:

• From passbook printer salesman to CEO [4:04]
• Focus on product-market fit and get cheesy [8:36]
• Retiring at 40 and other startup exit myths [15:02]
• The Pine Labs approach to digital payments [21:20]
• “Be nice to everybody” and other advice for startup founders [26:30]
• Stay unsatisfied [29:10]

Artificial Intelligence and machine learning are transforming the world of business intelligence and marketing. But before ‘AI’ became a buzzword, it was not easy to convince businesses that the technology could be a game changer for their enterprise. In 2012, Chih-Han Yu launched Appier with a vision to make AI accessible for all. That vision was tough to sell as it was a technology the world had yet to discover. In the years that followed, Appier pivoted many times on its mission to help companies adopt AI and big data to power business decision-making. On this episode of Moonshot, we speak to Appier co-founder and CEO Chih-Han Yu about what it takes to build a global AI-as-a-service company, and how he tapped on his team’s deep technical roots to build a product focused on customer-centricity.

• Introduction [00:31]
• Appier’s first-mover advantage [01:26]
• A race against time to find product-market fit [11:27]
• Developing software prowess in a hardware kingdom [13:55]
• Maintain a learning mindset and tap on the best [16:42]
• Going public: The transition from startup founder to public company CEO [27:00]

The dawn of AI is upon us and Enterprise AI is finally getting its time in the sun. With more people experimenting with the likes of Chat GPT, Dall-E, and Midjourney, companies are also moving swiftly to implement AI tools to help them drive productivity and efficiency. One person who’s been building AI tools for over a decade is Ashwini Asokan. In 2013, she left her job as a designer at Intel and teamed up with her husband, Anand Chandrasekaran, a neuroscientist, to launch Mad Street Den, a computer vision and artificial intelligence company. On this episode of Moonshot, we chat with Ashwini about the current state of Enterprise AI, how Mad Street Den is setting itself apart from its competitors, and what it takes to build a global artificial intelligence company out of India.

• Introduction [00:30]
• Consumer AI vs Enterprise AI [03:26]
• Different industries have the same data problems [09:55]
• AI automation: Freeing you up to do “the job you should have been doing in the first place.” [13:58]
• Entering the era of Enterprise AI [22:44]
• Do you need to raise a ton of capital to get into Artificial Intelligence? [26:59]
• Raising the next generation to be AI native [31:03]

“The best leaders and founders I’ve worked with have the ability to have conviction about a vision and an opinion, but also the ability to open up the decision or the moment and say, ‘OK, is there something I'm not thinking about?’ or ‘What could I have done differently?’” Claire Hughes Johnson draws on her experience leading and managing teams at Google and Stripe, and reflects on all things people management on this episode of Moonshot. Delving into insights published in her book, Scaling People: Tactics for Management and Company Building, Claire discusses the difference between leadership and management, how to build trust and set expectations with early hires, and how startup founders can effectively give and receive feedback.

Show notes:

• The four operating principles of leaders and managers [03:34]
• Seek feedback: “What could I have done differently?” [12:19]
• How self-awareness helps you receive feedback [15:43]
• Scaling: “Repeatedly being able to do something incredibly well.” [25:29]
• Play to your strengths when developing your leadership style [33:16]
• Build trust and set expectations with early leadership hires [35:21]

Launching a new software product and successfully driving user adoption and retention is a challenge for many startups. According to sales engagement platform Vymo’s co-founder and CEO Yamini Bhat, the secret is to ‘go live’ quickly and show users their return on investment. On this episode of Moonshot, we take a peek into Vymo’s playbook to learn about some of the key product and sales design choices the startup’s team made to attract and retain users across large enterprise customers.

Show Notes:

• The problem statement thesis: “Sellers hate any tool that is given to them.” [6:30]
• Use the challenger sales approach to build credibility [11:33]
• Narrow your focus: Look for indicators to hone in on a specific market [18:29]
• Take a DIY approach and allow for the customization of your product [22:39]
• Adapt to different cultures when launching your product internationally [30:04]
• “Why not the US?: Weighing up which market to break into first [36:38]
• Communicate the magic of your product and ‘go live’ quickly [39:24]

"If you are deciding everything, then you are limited by your own speed". That’s a belief Groww co-founder and CEO, Lalit Keshre, keeps front and center as he and his co-founders scale the investment platform. Keshre believes that by having a decentralized structure, team members are empowered to make quicker decisions around products. On this episode of Moonshot, we chat with Lalit Keshre and Ashish Agrawal, Managing Director at Sequoia India, about key design choices Groww made to take on a market with strong incumbents.

Show Notes:

• Financial services is a basic human need [01:16]
• When engineering and finance converge [05:20]
• Set up a decentralized structure and empower your teams to make quicker decisions [14:03]
• Taking a pull-driven approach to building an investment platform [18:12]
• Bake customer-centricity into every product decision [ 21:44]
• Don’t sell, educate instead [23:43]
• Pursue long-term success over short-term gains [26:04]
• Attract talent by offering purpose, autonomy, and growth [28:16]
• Trust in your own convictions [30:35]

India's manufacturing sector, which contributes 18% of the country’s GDP, is on the cusp of change. This highly labor intensive sector, which is plagued with logistical and technical issues, is undergoing a transformation as workers upskill and companies start to digitize their processes to improve efficiency. In 2018, Amrit Acharya, Srinath Ramakkrushnan, Vishal Chaudhary, and Rahul Sharma launched Zetwerk, a B2B manufacturing network that offers companies manufacturing solutions across a wide variety of products. On this episode of Moonshot, we speak with Amrit Acharya, Co-Founder and CEO of Zetwerk and Shailesh Lakhani, Managing Director at Sequoia India, about how the startup is taking a bold bet to bring a centuries-old industry into the digital age.

Show Notes: 

• Fall in love with unsolved problems (5:40)
• “We built exactly what you wanted.”: The challenges of selling software in India (9:40)
• The answer to how you pivot your startup lies in user behavior (11:15)
• Taking on a centuries-old industry (16:28)
• Finding opportunity in adversity (20:24)
• Taking a software approach to building hardware (among other things) (23:39)
• Running an international business without an overseas footprint (27:30)
• “Done is better than perfect.” (29:30)
• Showcasing India’s manufacturing potential (33:28)
• Paying it forward with Zetwerk Build (34:34)