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Saturday, June 3, 2023

Sudheer Koneru founded India’s first unicorn in wellness industry after retiring at 40

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The majority of people reach the age of 40 at a point in their professional and financial lives when they are just beginning to establish themselves. Despite this, Sudheer Koneru, a graduate of IIT Madras, came to the conclusion that it was time for him to put up his boots.

After nearly two decades spent building a successful career, which includes significant time spent at Microsoft and leadership roles in the establishment of two separate businesses, Koneru retired.

After graduating with a bachelor’s degree in computer science engineering from the illustrious Indian Institute of Technology Madras, Koneru continued his education in the United States, receiving a master’s degree in computer science from the University of Texas in Austin.

After that, he started his professional life with Microsoft, where he eventually became a Director. After leaving Microsoft, he went on to form Intelliprep Technologies and eventually became the company’s Chief Executive Officer. His company merged with Click2learn, which was founded by Paul Allen, a business partner of Bill Gates.

SumTotal, Koneru’s subsequent firm, had grown to the point that it was generating revenue in the neighborhood of $100 million when he made the decision to leave in 2007. After beginning his career in the information technology industry around sixteen years ago with a position at the colossal company created by the legendary figure in the field of technology Bill Gates, Sudheer Koneru made the decision to retire in 2008.

However, it wasn’t too much longer before Koneru came back as an entrepreneur. This time with what is most likely the most powerful business concept he has. During that period, he worked in Hyderabad on a spa and gym chain, where he filled a gap in the market that had enormous potential.

During that time, he was in India. After taking a break from working for two years to enjoy retirement, Koneru started a company that serves the health, salon, and spa industries. His offering was a piece of software known as ManageMySpa. In 2015, the business that was once known as Koneru became known as Zenoti.

After raising $160 million in Series D fundraising in the year 2020, Koneru’s Zenoti became the newest member of the exclusive unicorn club when its worth surpassed $1 billion. It made history by being the first startup company in the beauty and wellness industry to reach a valuation of one billion dollars.

Over 12,000 different companies in fifty different countries make use of his software. In the past, Koneru has discussed his intention to bring his firm public by means of an initial public offering (IPO) in the years to come. As per Venture Intelligence, Koneru is valued at about Rs 12,000 crore ($1.5 billion).

Taushif Patel
Taushif Patelhttps://taushifpatel.com
Taushif Patel is a Author and Entrepreneur with 20 years of media industry experience. He is the co-founder of Target Media and publisher of INSPIRING LEADERS Magazine, Director of Times Applaud Pvt. Ltd.

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