Manish Taneja | Leading a second highest billion-dollar company – Purplle

Beauty is something that everyone admires, whether it is a thing or a person. That’s what brings an enhancement in the surroundings and sometimes inspires too. To enhance those beauties, we have beauty products through various platforms such as Maybelline, Mamaearth, Loreal, etc. Around 1000+ brands are present in India itself, counting to the world would be much more. So searching for one product in all those brands instead would win the world marathon. Having all those in one access is such an excellent idea put by Manish Taneja, one multi-brand beauty spot is Purplle. 

The idea of Purplle is the ensemble of three men in one group led by Manish Taneja as CEO.  This adventure of entrepreneurship wasn’t easy. It consists of many sacrifices and efforts to make the brand a billion. 

The early life of Manish Taneja 

Manish Taneja completed schooling at Modern Vidya Niketan School from 1997-2002. From there,  he attended IIT-Delhi for a dual degree of B.Tech and M.Tech in Electrical Engineering, and in  2007 he graduated. Later, admitted to CFA Institute and completed level 3 in Finance.

During his graduation career, Manisha used the handle as the placement coordinator. Which helped him get an intern in Ittiam systems, where he worked on USB device drivers. Moving further, he focused on career enhancement in different professions.

Manish Taneja career

As an intern, his career started further. He joined as an Analyst in Lehman Brothers, where he handled financial market stock price,  interest rate, and product price structure. After working for a year in 2008, he switched to Avendus Capital with the same designation as microfinance and logistic industry across media. Secondly, in a same company, he was promoted to an associate to handle significant client and investor interaction to process and pitch the deals. In 2010 Taneja decided to move out to join Private Equality and served for around a year as an Analyst. 

Summoning all those experiences and the urge to build something on his own and be self-employed. He started the brand with the help of some of his friends.

Invention of Purplle 

It all started with a discussion between like-minded people who accidently met in Delhi’s room as roommates. Manish met Rahul, who had the same intention to build a brand. Along with this, a colleague of Rahul Suyash also joined this entrepreneurship venture. 

Staring a business was challenging as choosing the field. So keeping few needs such as large industry. That brings share would bring in the large company should have very high gross margins. Finally, the field should have repeatability in the hype.

With savings of an initial 4 lakh, the company started in 2012, and from there, it took unmatchable growth year on year as Beauty products kept resonating high. It has collected a fresh high round of investment, bringing the total funding to over $215Mn at a valuation of $1.1Bn, standing as a billion-dollar brand.

Quick information on Purplle 

Since 2012 Purplle has been an excellent marketplace for beauty brands. Purplle, including national and international, is fully aided with tech and recommendation engines to enable brands to target the right consumers. It started to gain over 7 million daily active users with 1000+ brands with over 60,000 products, handled by around 200 people, and is present in 10 major cities across India.

Recognized as India’s unicorn business with billions of investments. So Taneja is looking forward to raising more funds to support the company’s growth to expand the industry with more products in different places worldwide.

Manish Taneja recognized as

In 2017, Ernst and Young Manish rewarded as ‘Entrepreneur of the Year.’ And Forbes announced him in a list of Forbes India’s ‘30 Under 30’ for his outstanding work in building multi-brand beauty brand e-tailers. The below video shows a quick walk-through on being a Indian Entrepreneur

Personal inspiration 

Manish Taneja always believed in “pursuing dreams and rest can wait” this is what made him a successful Indian entrepreneur and business leader.  From convincing beauty brands to sell their products on the platform to building a sizeable omnichannel beauty business. Shows ambitious entrepreneur’s strengths and strategies to grow never let self hold on, he always followed learn and move on.