Praveen Sinha
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| Praveen | |
|---|---|
 | |
| Nationality | Indian |
| Alma mater | IIM Calcutta |
| Occupation | Businessman |
Praveen Sinha is an Indian businessman and investor, who is the Managing Director of PinCap [1][2] and Angel investor firm focused on bridging the debt financing gap for SMEs.
In 2012, Sinha was one of the co-founders of Jabong.com,[3] an Indian fashion and lifestyle e-commerce portal, where he served as Managing Director. In July, 2016 Flipkart acquired Jabong and the co-founders left the company.[4] Sinha has also worked for McKinsey & Company as a consultant for transformation projects in South East Asia and India.
Contents
1 Career
2 Accomplishments
3 Awards and recognition
4 Controversies and fraud at Jabong
5 References
Career
After graduating from Delhi College of Engineering, Sinha got placed in Maruti Suzuki in 2001. He served the company for five years before deciding to pursue MBA from Indian Institute of Management, Calcutta.[5]
In Jan 2012, he cofounded Jabong with Lakshmi Potluri and Arun Chandra Mohan. The online portal is now one of India’s leading e-commerce fashion destinations for apparel, shoes, accessories, etc.[6][7]
In 2015, Sinha moved out of Jabong by mutual agreement to pursue a new business venture. Before his entrepreneurial debut, Praveen Sinha worked with McKinsey & Company on transformation projects in South East Asia and India.[8]
Accomplishments
Sinha has become a turnaround specialist in energy efficiency and startups ecosystem. He has worked in numerous transformation projects across different sectors including mines, steel, automotive, etc. Praveen Sinha has also conducted energy audits across Asia (China, HongKong, South East Asia and India).
He is the founder of the startup – Aquabrim, a water management device for residential and commercial users.
Praveen launched Jabong with a small team in 2012, and scaled it up to a leading market leader within a few years. His venture is the third most visited online shopping portal that is currently valued at $450–500 million.
Sinha has also funded numerous profit-making startups like Tapzo (‘All-in-One’ smartphone app), Zimmber (home services company), Wassup (laundry), Kidsstoppress (parenting website) and many more.[9]
Awards and recognition
Under Sinha’s guidance, Jabong has won several awards: Pure-Play eRetailer of the Year at Indian eRetailer awards 2013, Excellence in eCommerce by Etailing India Expo 2013 and “Online Retailer of the Year by Etailing India Exhibition 2014.[10][11]
Controversies and fraud at Jabong
As per various reports that came out in 2016, Rocket Internet started an investigation against Praveen Sinha, the company's ex-CEO Arun Chandra Mohan and former Rocket Internet India managing director Heavent Malhotra for financial impropriety at the firm.[12] There were reports of Praveen siphoning off more than INR 100 Cr from Jabong.[13]
In 2017, Snapdeal filed FIR against Praveen and other GoJavas promoters for forgery, cheating and misappropriation of funds.[14]
References
^ "Who We Are". pincap.
^ "Praveen Sinha". Starup. 2015-03-19. Retrieved 2017-05-30.
^ "Praveen Sinha". Indian Institute Of Management Calcutta.
^ "Flipkart-owned Myntra acquires Jabong for $70 mn". Times Of India. Retrieved 2017-05-30.
^ "Praveen Sinha". IIM Calcutta.
^ "Indian businesses have patience tested over online ventures". BBC News.
^ "Jabong bangs into top rung of Indian e-commerce; Can it sustain?". VCCircle.
^ "Jabong co-founder quits to launch own venture". Financial Express.
^ "Meet the Jabong founder: A man who wears many hats". Financial Express.
^ "Franchise India held annual Indian eRetail Awards 2013". India Infoline News Service.
^ "eTailing India announces first e-commerce industry awards". DNA India.
^ http://economictimes.indiatimes.com/small-biz/startups/internal-audit-finds-lapses-by-ex-jabong-executives-transfer-of-logistics-unit-gojavas-under-lens/articleshow/53257520.cms
^ https://inc42.com/buzz/jabongs-financial-irregularities/
^ http://www.business-standard.com/article/companies/snapdeal-parent-firm-files-fir-against-former-gojavas-promoters-117062400868_1.html