Blume Podcast

How Square Yards Moves ₹18,000 Cr of Real Estate Every Year | S4E8 | Destiny Avenged | Weekday Episode

What does it take to build a category-defining real estate company in India—starting from scratch, without hype, and going truly all in?   In this episode of the Blume Podcast, Karthik Reddy sits down with Tanuj Shori, Co-founder & CEO of Square Yards, to unpack the long, invisible journey behind one of India’s largest real estate and financial services platforms.   This is not a story about overnight success or fundraising theatrics. It’s about:   •  How brutal work ethic during the Global Financial Crisis reshaped ambition •  Why exposure to China’s Lianjia helped connect the dots for Square Yards •  The moment obsession turned into a 48-hour decision to quit banking •  What “going all in” really meant—selling homes, including their parents’ •  Building only where you have a clear right to win   Today, Square Yards moves ~₹18,000 Cr of real estate annually while refusing to chase adjacencies without category leadership.   If you’re building for decades, thinking about conviction, or wondering how founders cross the line from comfort to commitment—this episode is a masterclass.   🔔 Don’t miss more founder stories from Season 4: Destiny Avenged.   ⏱️ Timestamps (Weekday Episode)   00:00 — “What is equity?”: early career confusion and learning the hard way 04:10 — Lehman, GFC, and why hard work changed everything 07:30 — China’s Lianjia, angel investing, and connecting the dots 11:40 — Going all in: selling homes and building Square Yards with conviction   Season Partners   This season is brought to you by IDFC FIRST Bank and Ultrahuman.   Disclaimer   The views and opinions expressed in this content are for informational purposes only and do not constitute investment, legal, tax, or accounting advice, nor an offer or solicitation to buy or sell securities. References to companies or outcomes are illustrative only and should not be construed as endorsements. Past performance is not indicative of future results.

How 15 Co-Founders Built an ₹18,000 Cr Company | S4E8 | Destiny Avenged | Weekend Ep.

What does it take to build a full-stack real estate platform in India, a market defined by broken processes, low trust, and extreme fragmentation, without following the traditional VC playbook? In this Season 4 finale of the Blume Podcast, Karthik Reddy sits down with Tanuj Shori, Founder of Square Yards, to unpack a decade-long journey of building one of India’s most quietly scaled businesses, now moving ~₹18,000 Cr of real estate annually. This is not a story of blitzscaling or overnight success. It’s a story of risk taken early, course-correction done fast, and patience sustained over decades — in a market most founders actively avoid. This episode dives into: - Why Square Yards refused to build “just another” property search platform - The decision to go full-stack in a deeply interdependent real estate ecosystem - Why category leadership mattered more than adjacency or incremental revenue - Hiring co-founders, not employees, and building a 15-person founding bench that’s still intact a decade later - A capital philosophy rooted in the belief that equity is the most expensive thing in the world - How retail distribution — not product or tech — became the hardest problem to solve - Why the team is building with a 20–40 year horizon, not for milestones or exits From selling their own homes and going all-in, to building an IPO-ready platform designed to outlive its founders, this conversation offers rare insight into what it takes to organise a broken market at national scale. Timestamps 00:00:00 – From Lehman Brothers to questioning “what is equity” 00:04:24 – Risk appetite, early course-correction, and being “all-in” 00:08:15 – Banking years, hard work, and why competence creates passion 00:14:29 – The accidental entrepreneur and the Square Yards origin story 00:20:20 – Selling personal and family assets to go all-in 00:31:01 – Why search & discovery failed — and full-stack was necessary 00:37:25 – Category leadership as a non-negotiable mandate 00:44:20 – Cracking scale: retail distribution, COVID tailwinds, and growth 00:54:38 – Destiny avenged, IPO as governance, and building for decades This season is brought to you in partnership with IDFC FIRST Bank and Ultrahuman. ------------------------------------------ The views and opinions expressed in this content are for informational purposes only and do not constitute investment, legal, tax, or accounting advice, nor an offer or solicitation to buy or sell securities. References to companies, transactions, or market events are illustrative only and should not be construed as endorsements or statements of value. Any views expressed by individuals are solely their own and do not represent those of Blume Ventures, its affiliates, partners, or employees. Past performance is not indicative of future results.

How Minimalist Hit ₹100Cr in Just 8 Months from launch | S4E7 | Destiny Avenged | Weekday Ep

What does it take to build a ₹100-crore skincare brand in under a year — in one of the most crowded consumer categories in India? In this episode of the Blume Podcast, Karthik Reddy sits down with Mohit Yadav, Co-founder of Minimalist, to unpack the long, invisible journey behind the brand’s seemingly overnight success. This is not a story about hype, influencers, or clever marketing. It’s about: - Why transparency became Minimalist’s core competitive advantage - How two years of “failed” experimentation at Freewill laid the real foundation - The shift from personalised haircare to problem-led, science-first skincare - Why Minimalist focused only on “need-to-have” products in its first year - How referrals, repeats, and honest customer conversations compounded growth - Why Tier-3 India surprised them the most — and what it says about knowledge parity If you’re building a consumer brand, thinking about PMF, or wondering how trust scales faster than ads — this episode is a masterclass. 🔔 Don’t miss more founder stories from Season 4: Destiny Avenged. ⏱️ Timestamps (Full Episode) 00:00 — Why Minimalist believed it could stand out in a crowded beauty market 01:00 — From Freewill to Minimalist: the pivots, mistakes, and COVID reset 08:30 — Radical transparency, clinically proven products, and black-and-white design 10:30 — The surprise insight: 50% of customers came from tier-3 India Season Partners This season is brought to you by IDFC FIRST Bank and Ultrahuman. Disclaimer The views and opinions expressed in this content are for informational purposes only and do not constitute investment, legal, tax, or accounting advice, nor an offer or solicitation to buy or sell securities. References to companies or outcomes are illustrative only and should not be construed as endorsements. Past performance is not indicative of future results.

How Minimalist Won India’s Skincare Market By Being Transparent | S4E7 | Destiny Avenged | Weekend Ep.

What does it take to build a ₹3000Cr skincare brand in the middle of a global pandemic — without celebrity endorsements, influencer hype, or big-budget marketing?   In this episode of S4 of the Blume Podcast, Karthik sits down with Mohit Yadav, Co-founder of Minimalist, to unpack the years of quiet compounding behind the brand’s breakout — from two brothers experimenting across multiple businesses, to launching a science-first skincare brand during COVID.   This is not a story of overnight virality or growth hacks. It’s a story of:   •  Winning trust through ingredient transparency and product clarity •  Why India has wealth disparity, but skincare “knowledge parity” is rising fast •  What Minimalist got right (and what actually differentiated them) •  Why they chose to grow without influencers — and the flywheels that worked instead •  The underrated advantage of building from Jaipur •  The prior years of work that made their rapid growth possible   In a category built on hype and advertising, Minimalist won by respecting the consumer’s intelligence — and letting the product do the talking. Chapters: 00:00:00 – Why Minimalist thought it could stand out (problem-first, “knowledge parity”)   00:04:21 – Jaipur roots, humble background, and why the two brothers chose “dhandha”   00:11:04 – First business: Scopial (design community) and how it started   00:13:31 – Snapdeal’s Kunal invests → pivot to Mango Street kidswear → acquisition exit   00:17:04 – CarDekho years: scaling up + Indonesia chapter + deciding to start again   00:25:07 – Freewill (personalised haircare) → regulatory roadblock → COVID → Minimalist is born   00:32:40 – Minimalist’s brand DNA: clinical proof, radical transparency, black-and-white design language   00:50:53 – Going global (GCC/SEA/US), Target rollout, building from Jaipur, Unilever deal + rapid-fire + advice (till end) This season is brought to you in partnership with IDFC FIRST Bank and Ultrahuman.

Ather Didn’t Copy. They Rebuilt EVs From Scratch into a ₹26,000 Cr Company | S4E6 | Destiny Avenged | Weekday Ep.

What does it take to build an EV in a country that had no supply chain, no ecosystem, and no conviction that world-class hardware could be engineered locally from scratch?   In this episode of Destiny Avenged, Tarun Mehta takes us back to the true origins of Ather — long before the scooters, the charging grid, or the brand India now knows.   It begins inside IIT Madras’ CFI lab, where a new culture of weekend building, late-night experiments, and first-principles engineering quietly took hold. Tarun and Swapnil spent years sleeping on yoga mats in the department, teaching themselves battery design, building swappable packs, and prototyping chargers.   But one insight changed everything: India didn’t want batteries. It wanted a world-class electric scooter. That leap — from component to full-stack — is what eventually became Ather Energy.   This conversation dives deep into:   •  How CFI and IIT Madras accidentally engineered a startup culture •  Why Ather took five years before launching anything •  The battery-first approach and the pivot to full-stack EVs •  Why building hardware requires long gestation and no shortcuts •  The engineering advantages EVs unlock that ICE can never match •  Why Ather chose the hardest possible path — and how it paid off Chapters: 00:00 – Building Ather’s first batteries 02:23 – How IIT Madras accidentally created a startup factory 06:03 – Quitting jobs, sleeping on yoga mats, and early swappable battery ideas 09:11 – Pitching the full scooter & why deep tech isn’t a capital problem If you’ve ever wondered how an engineering-first company gets built in India, this is the blueprint.   🎧 Watch the full episode and explore more founder stories in Season 4: Destiny Avenged.   Season Partners: IDFC FIRST Bank and Ultrahuman (Blume portco)