Hitesh Kyal

237 days, 460 micro startup deals reviewed, 70 seller meetings, and 25 buyers mentored. 2024 has been a wild ride Here’s the story of how a 20-year-old from Delhi broke into PE and learnings along the way: — April: Coming across Pocket Fund While researching how to buy a business even with limited funds and resources, I came across acquire.com. So, I created a free account and began exploring all the listings, and immediately fell in love with the platform. My curiosity landed me at Pocket Fund which was the only student-run micro PE at that time so I reached out to Dev Shah (who had already bought his very first business for $4,000 and scaled it from $ 400 MRR to $ 4,000 MRR) to learn the tricks of the trade and joined as an intern. Within a month, I was the Head Analyst, and most of my time was spent reviewing deals from acquire.com, Flippa.com, Microns, and other marketplaces May: Launching a Cohort Program While growing Pocket Fund, one of our core beliefs was to share our learnings with the community, especially college students who wanted to start a business but couldn't due to lack of time and resources so within a week we mapped out the structure of the cohort and released the form Honestly, we didn’t know what to expect, but the response blew us away—120+ team applications from a single Instagram story. We had 100 applicants from 8 countries, from NYU, UT Austin, UC Berkeley, etc. After reviewing all applications we narrowed it down to 5 teams. After meeting them all we chose 3 teams. June: Running the Cohort We kicked off in June with 4 weeks of sessions - 2 per week - covering how to buy a business, due diligence, and negotiations. By week 3, one team sent their first LoI. July: Experimenting with AI - Acquisition AI, a free chatbot with buyer/seller personas. - Finance Prep, an AI tool to help students prep for high-finance interviews August: Working on LinkedIn and X I started a 50-day series of writing about interesting deals on X but they didn't do quite well. I ended up gaining 60 followers Building Communities: During the latter half of the year, community-building became a big focus for us. In the process, we launched: - Pocket Deals, a paid newsletter curating niche deals. - Acquisition Accelerator, a Skool community teaching how to buy/sell businesses. We hit 30 paying members by December. 5 members acquired a business in 1 month after joining us. - r/microacquisitions,a subreddit where buyers and sellers connect. In just 28 days, it crossed 1k followers. Not everything we planned played out as we planned and we had a few setbacks as well. One of our deals, which we were pursuing for 2 months (a VC-backed WhatsApp bot), fell apart. The business seemed interesting to us cuz it had found a niche among lawyers for storing voice notes and docs on Google Drive. But in the end, the deal fell apart. 2024 was a year of experiments, wins, and lessons. Here’s to doubling down in 2025!

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🚨 #BoycottPhonePe: CEO Sameer Nigam’s Comments Spark Backlash 🚨 PhonePe's CEO Sameer Nigam criticized the Karnataka jobs quota bill, and the internet is buzzing with reactions! With hashtags like #BoycottPhonePe and #UninstallPhonePe trending, here's what you need to know: 🔹 Karnataka Jobs Quota Bill: Reserves 70% non-management and 50% management jobs for local Kannadigas. Kannada proficiency required for candidates without Kannada in secondary school diplomas. 🔹 Sameer Nigam’s Remarks: Criticized the bill, sharing personal experiences of frequent relocations due to his father’s Navy career. 🔹 Social Media Storm: Pro-Kannada groups and individuals criticizing Nigam. #BoycottPhonePe and #UninstallPhonePe trending as users express dissatisfaction. 🔹 Wider Implications: Debate on local job reservations vs. national mobility. Mixed reactions from industry and concerns from NASSCOM. 🔹 Industry Reactions: Companies worried about attracting top talent. Supporters highlight regional disparities and local benefits. Dive deeper into this controversy and share your thoughts on the Karnataka jobs quota bill and Sameer Nigam’s comments. Read our full blog for more insights! 📖 Read the full blog post: https://lnkd.in/eCssqN8U #BoycottPhonePe #UninstallPhonePe #KarnatakaJobsQuota #LocalEmployment #EconomicDebate #JobMarket #FacebookNews #IndustryReactions #BusinessControversy

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I first met Aditya and Dhiraj from Campus Sutra at an event in Goa, back in 2022. The thing that stuck with me about their style was their relentless focus on profitability and experimentation. Since 2023, we’ve partnered with Campus Sutra to make WhatsApp a powerhouse for their D2C revenue. For two years, we’ve run 2-3 high-impact experiments monthly, always targeting key outcomes. Now, in 2024, their D2C business is scaling fast—and WhatsApp is a big part of this growth! Check out our case study to see how they drive revenue, reduce RTO, and automate support with WhatsApp.

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As I interact regularly with founders and CMOs of many new age brands, one aspect where I find many marketing teams lacking is on the quality of research done to arrive at product development/creative development/packaging development etc. And because of this, many founders end up believing that research does not work/research is not needed A very common mistake I have seen people commit is to use qualitative and quantitative research for the exactly opposite reasons and that stems from not understanding the difference between the two and when to use what If I were to summarize in a sentence , “Qualitative research is done to build hypothesis, quantitative research is done to confirm/reject the hypothesis” The objective of qual is to examine and explore issues. The objective of quant is to explain, confirm or predict something through statistically proven measures of validation The small size of qual is small, purposeful and can never be representative of your total consumer base. In quant, the sample size has to be large, representative of your target consumer base, and comprehensive enough to meet statistical accuracy standards Qual often unearths perceptions via non direct interviewing (needs a lot of practice and experience ) and draws inferences from observations. It is an unstructured and interactive process. Quant on the other hand is explicit and same questions are asked in a same sequence to a statistically significant sample size What many startup marketing teams does (mostly because there is no CMI and no one who experienced how research is done ) is exactly the opposite. They will end up trying to do find a representative set of consumers for qual. They often end up asking explicit and same questions in same sequence to the qual respondents. And believe it or not, also sometimes end up with conclusions (“50% of consumers said this”- after speaking to 25 consumers through depth interviews) And naturally this leads to poor outcomes. And because research is expensive, teams give up on research. So, next time onwards, use qual to explore issues in depth and build hypotheses. Qual seldom leads to closure and often leads to a quant to complete the investigation. And use quant to validate them, build confidence and move to execution

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Massive respect for all those in the Indian B2B space where revenues aren't received upfront or immediately after service/goods rendered [like a card on subscription]. Dealing with a situation at workplace to collect the money owed from a vendor and I am like 'How do people even do this as a job every month?' What does one typically do, when email, phone and even in-person visits dont bear fruit? Pursuing it legally is a necessary but not sufficient condition, I guess. Reach out to their investors? other customers? common linkedin connections? call them out publicly? (which I guess is what one does when you write it off). Would love for some actionable ideas and advice.

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One frequently asked question I get from many new age consumer brands founders: How to learn about TV media planning? As someone who has never worked at a large company to learn media planning by doing, I have relied on fundamental text books And this one by Arpita Menon was easily the best

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Indian social media app Koo has announced its decision to shut down operations. The platform, once positioned as a strong competitor to X / Twitter, faced insurmountable hurdles that ultimately led to its demise. Here are the key points: 1)- Koo’s journey took a downward spiral due to unsuccessful attempts to sell or merge the platform. Negotiations with DailyHunt etc 2)- Being valued at $275 million and raising over $66 million from investors like Tiger Global and Ashneer Grover etc, Koo struggled to secure the necessary long-term capital. The fluctuating capital market proved insufficient to sustain its operations and compete with global giants like X. 3)- Koo boasted an impressive 1 crore monthly active users and over 9000 VIP accounts, including celebrities and politicians. However, even this substantial user base couldn’t shield it from financial challenges. 4)- Shutdown raises critical questions about India’s ability to run successful social media platforms. Foreign companies continue to dominate the landscape, leaving us pondering whether our startup ecosystem can truly compete on a global stage. In his LinkedIn post, Koo’s founder, Aprameya Radhakrishna, emphasized the need for patient, long-term capital for ambitious ventures. These projects, shouldn’t be treated as profit machines but as significant investments in India’s future. Let’s reflect on this moment—a reminder that innovation requires more than just ideas; it demands sustainable support. 🌟 #KooShutdown #IndianTech #StartupEcosystem

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Finding some interesting startups emerging in India, more tangible, interesting R&D, less software, more physicality. Hope the VC ecosystem and its inverted incentive structure does not force a winner take it all rockstar, overfunding climate and nip these possibilities in the bud with a singular focus on valuation. There are great possibilities in import substitution, climate, renewables, cybersecurity, EVs etc etc - feasible 100-1000 cr companies with corresponding positive cashflows rather than billion dollar unicorns full of hype and future potential. Wonder which way does this cycle go. Every company needs capital. It’s just about the appropriate dose and the metrics which are incentivised.

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Highperformr.ai, a marketing SaaS startup floated by former Freshworks executives Ramesh Ravishankar and Srivatsan Venkatesan, has raised $3.5 Mn (INR 29.2 Cr) in a seed funding round 👇 The startup’s first product, Highperformr for Teams, leverages generative AI and LLMs to help B2B businesses maximise their return on investment (ROI) on social media campaigns. The fresh capital will be deployed to further the startup's research and development activity, build the platform's native AI capabilities, and expand its distribution network. To read more in detail, click here: https://lnkd.in/gV8tqWyU #startups #fundraising #growth #saas

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Winning Sales Strategy Work on 5 emotions, your #sales will be crazy. >> HUNGER : apps like #zomato #swiggy #ubereats work because people are hungry. >> ANGER : apps like #twitter and #Reddit work because you can burst your anger which solves the problem ultimately. >> PRIDE : if people own your product and they can have a sense of social status and pride, they will pay for it. >> ENVY : if people have a blue tick or more followers that creates jealousy for people. >> Laziness : apps like #blinkit work because people are lazy. They don’t want to go to a departmental store to get something. So, when you take advantages of all these 5 emotions #hunger #anger #pride #envy #laziness #sales go crazy. They will come and buy your service / product without you having to sell to them. #salestip #communicationcoach #salesteam #entrepreneurship #linkedinpost #leadership

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In a market like India which has always been underserved and there are so many unsolved/poorly solved used cases( I call them invisible problems) the TAM can expand significantly if you get the 4Ps - (product, price, distribution and advertising/comms) spot on Lenskart has done it beautifully with specs. Decent product, good designs, attractive prices, excellent distribution and good advertising Giva is doing it with silver jewellery At scale, Xiaomi and other chinese players have done it with smartphones Jio has done it with mobile internet and now doing it with broadband There are multiple ways of expanding TAM. It is usually a combination of product and price. Some overindex on product( Lenskart, Giva etc), some overindex on price( Jio). Great distribution and advertising/communication is a must And we are only started. I can see so many opportunities of the same happening in the next decade Wholetruth could do it with healthy snacking and whey protein If someone builds a great air fryer with some basic functionality of microwave ( India is a frying nation, not baking) and launch at affordable price, it can explode If someone launches affordable rechargeable battery operated pedestal fans, most rural home with power cuts will buy So, while evaluating categories, don’t look at current TAM. Look at TAM with the use case/problem being solved. And product price isn’t enough. Its a trust deficient society and hence distribution and brand has to be top notch The key is to do it while not burning a lot of money( unless you are Jio) as the TAM expands, but sometimes it takes more time than you would think But I have seen this across categories enough times to conclude that Great supply often will unlock good demand, provided the 4Ps are spot on

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Any HR tech/Fin tech/Ed tech/Health tech founders in India or US looking to start their Responsible AI journey, DM me. (I ll be happy to help pro bono) After spending the last few months studying about this, AI Governance will become inevitable. While 2023 was about building, 2024 is about shipping compliant, reliable and trustworthy AI. Hence we believe that the next decade of AI development presents a fundamental challenge: how to cultivate trust in AI models and build AI responsibly. So to all my fellow founders, don't wait. This might make your company "Untrustworthy" sooner than your realise. Feel free to drop a mail as well at [email protected]

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US GTM focused founders from India An important learning for me has been the need for a sound body so that there’s a sound mind, when selling to North America, during NA business hours. - Prep the body and mind for those hours (4pm - pst midnight IST) - Eat foods that agree with you and help you have optimal energy during those hours (eg I rarely start my breakfast without a good dose of dry fruits, nuts and kanji/porridge before I eat idli/dosa/etc) - Listen to your body seeking rest and give it adequate rest (like a dear friend of mine Ian Anderson would often say “don’t burn the candle at both ends”) I have felt a visible difference in my energy, mindset and focus as I progressively made these changes Often, in the adrenaline rush filled startup journey, we founders give the short shrift to our health. I didn’t realise it’s toll on me until end of 2021. Went through a fairly transformative phase during 2022. Several changes I made then have now become “habits” and hence second nature. What have you changed in your lifestyle to enable a better you?

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🚀 Masterclass on navigating 0 to 1 product building + GTM for startups. 🚀 Here is the WEEKEND OFFER valid till Sunday Midnight only. Join our Product Management Workshop on Building Product Startups and gain the skills to take your startup to the next level. 📅 June 29th, Saturday 📍 IIM Kozhikode ⏰ 10 AM - 5 PM 🎟 https://bit.ly/HSKwkp3 Who is this for? For Founder/Teams building: 1. B2C/B2B Marketplaces 2. B2C Tech Solutions 3. SaaS Products Not Relevant For: - Offline-first distribution startups - Tech/Non-tech services businesses - Hardware Startups Hands-on session to cover: 1. Problem Discovery & Qualification: 2. Finding the First 10 Power Users & Defining Tablestakes Roadmap for V0 3. Identifying Metrics That Matter 4. Hard Skills That Matter for Founders/Founding PMs 5. Development Approach 6. Building your team Register Now: https://bit.ly/HSKwkp3 Hamad Jowher Nevin Robert Mittu Tigi Sana Thayyil Rabin Baby Murshid Basil Muhammed Haris T M Reema A Raheem Ashwathy Venugopal Geethu Agit Vaishnav Nair S IIMK LIVE Abraham Varghese Jofin Joseph

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Q&A Section on Google Business Profiles removed in India Until a while back, any customer could ask a question specific to that business location and get them clarified. As an example, a leading pan India Diagnostic Chain customer of ours used Zceppa to centrally respond to all questions - cost of a CT Scan, home collection etc. They found it super useful and also a very meaningful way to engage with their customers. Alas, due to some policy violation and without any notification, this feature has been abruptly removed in India (not sure about other countries). Are you a business which has been impacted due to this change? Do let us know, would love to listen! 

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