Biography of Jasveer Singh: Founder & CEO of Hood (
Biography of Jasveer Singh:
Jasveer Singh, a visionary entrepreneur, had always dreamed
of creating something impactful. Born in Agaunapur village, located in the Etah
district of Uttar Pradesh, his early education was a challenge. He learned
English only when he reached college, and this experience inspired him to read
Richard Branson’s autobiography Losing My Virginity. The book left a profound
mark on him, driving him to pursue entrepreneurship despite the odds. "If
Branson could do it, why can't I?" he thought. With this mindset, he set
out to build businesses that would stand the test of time.
From Small Beginnings to Big Dreams
In 2011, while still pursuing his MBA, Jasveer started his
first venture—Abhilaya, a fruit and vegetable delivery startup. His inspiration
came from Branson's ability to start ventures and experiment with ideas.
However, Abhilaya was ahead of its time and faced difficulties scaling. After
four months of trying, the venture closed. Jasveer returned to college,
realizing that survival was his priority before embarking on another
entrepreneurial journey. This early setback didn’t discourage him; rather, it
fueled his ambition to try again.
The First Successful Venture: Qik Sta
After his short-lived first startup, Jasveer went on to
co-found Qik Stay in 2015, an online aggregator of affordable premium hotels.
This venture marked a significant turn in his entrepreneurial journey. In just
a year, Qik Stay expanded rapidly, boasting over 30 hotels and a presence
across multiple cities. By 2016, Qik Stay had grown to include 200 hotels,
3,000 rooms, and a presence in 50 cities. The growth was “crazy,” as Jasveer
recalls. Yet, the competitive landscape began to shift when giants like Oyo
raised massive funding, and Qik Stay found it difficult to keep pace.
Facing the Giants: Oyo and MakeMyTrip
While Qik Stay grew at a fast pace, the industry saw even
bigger players gaining momentum. Oyo, for instance, raised significant funding
from SoftBank, making it a formidable competitor. By 2016, Oyo raised $250
million, and its influence in the industry expanded rapidly. With such heavy
competition, Qik Stay struggled to sustain its growth, and without the backing
of venture capital, it became clear that the business could not scale as
desired. Jasveer made the difficult decision to exit the company in 2019,
marking the end of a chapter but not the end of his entrepreneurial
aspirations.
The Birth of Hood: A New Vision
After exiting Qik Stay, Jasveer didn’t stay idle for long.
In 2021, along with Abhishek Asthana and Deepak Kumar, he co-founded Zorro, a
pseudonymous social networking platform. Zorro was designed to be a safe space
for people to have honest, anonymous conversations. The platform allowed users
to engage in discussions on various topics ranging from mental health to
entertainment. This new venture aimed to address the growing need for privacy
and honesty in social media interactions
A New Approach to Social Media
Zorro, which later rebranded as Hood, set itself apart by
offering anonymity. In a world dominated by highly curated and often
inauthentic social media profiles, Hood’s pseudonymous approach provided users
with a safe space to express their true selves without fear of judgment.
Critics, however, questioned the viability of such a platform. With heavy
competition from established social media giants, many wondered whether Hood
would be able to find users, let alone scale. Jasveer and his team were determined
to prove them wrong.
Biography of Jasveer Singh: Founder & CEO of Hood (Zorro)- Entrepreneur/social networking platform/age/net worth/investor/startup/Hood story
Rising to the Spotlight on Shark Tank
In 2022, Hood received a massive boost in visibility when it
appeared on Shark Tank India season 2. During the show, Jasveer pitched the
idea of Hood and successfully secured an investment of ₹60 lakh from Aman
Gupta, co-founder of boAt, and Peyush Bansal, co-founder of Lenskart, in
exchange for 0.54% equity. This investment came at a valuation of ₹111 crore,
far lower than the ₹600 crore valuation Jasveer had initially sought, but it
still marked a significant step forward for Hood.
Leveraging Shark Tank Fame
The appearance on Shark Tank India proved to be a
game-changer for Hood. The publicity brought the platform into the top 10 apps
on the App Store, attracting new users and investors alike. The backing of
prominent investors like Kunal Shah, Vijay Shekhar Sharma, and Ritesh Agarwal
further strengthened the company’s credibility. With these new resources,
Hood’s mission to build a safe, anonymous space for social interactions gained
more momentum, and the team was ready to scale.
Serial Entrepreneurship: A Pattern of Exits and New
Beginnings
Jasveer Singh’s entrepreneurial journey has been anything
but linear. From his early venture Abhilaya to his successful exit from Qik
Stay, and now with Hood, he has demonstrated a unique pattern—launching
businesses, scaling them to a certain point, and then pivoting or exiting when
the time feels right. Each venture has brought its own set of challenges and
lessons, but through it all, Jasveer has maintained a clear focus on building
something meaningful and scalable.
Navigating the Startup Ecosyste
Jasveer’s experience in the Indian startup ecosystem has
given him a deep understanding of the challenges and opportunities in the
market. He has had a front-row seat to the rise of major players like Oyo and
MakeMyTrip, and he knows how difficult it can be for smaller players to compete
without the necessary capital or resources. Despite these challenges, Jasveer’s
resilience and ability to pivot have been key to his success. His ventures have
often defied expectations, and his willingness to embrace new ideas has kept
him at the forefront of the entrepreneurial scene.
Learning from Past Ventures
Looking back at his earlier ventures, Jasveer acknowledges
the lessons he learned from his failures. The exit from Qik Stay, for example,
was not a defeat but rather a lesson in understanding when a business has
reached its potential and when it’s time to move on. This mindset has helped
him avoid getting stuck in unsuccessful ventures and instead focus on creating
new opportunities. His ability to learn from the past and quickly adapt has
been one of the reasons behind his continued success.
The Power of Mentorship
Throughout his entrepreneurial journey, Jasveer has been
fortunate to have access to mentorship from some of the most influential
figures in the startup ecosystem. From his interactions with investors to his
time on Shark Tank, Jasveer has learned the value of strong guidance. He often
cites the importance of surrounding himself with people who can offer valuable
insights, whether it’s in terms of strategy, branding, or business development.
These experiences have shaped his approach to building startups and have given
him a unique perspective on growth and scalability.
A Resilient Entrepreneur
Jasveer’s resilience has been one of his defining
characteristics. He has repeatedly bounced back from failures and challenges,
each time with a more refined approach. From his first failed venture to his
success with Hood, his journey is a testament to the power of perseverance. He
has learned that building a business is not just about success but also about
how one handles setbacks and keeps pushing forward. This attitude has made him
a respected figure in the Indian startup ecosystem.
Building a Legacy Beyond Profit
For Jasveer, entrepreneurship is not just about making
money—it’s about creating something that has a lasting impact. With Hood, he is
not only addressing the need for privacy and safety in social media but also
helping people express themselves freely and without judgment. The goal of Hood
is to provide a platform where users can find truth and connection, regardless
of their background or identity. In doing so, Jasveer hopes to create a legacy
that extends far beyond financial success.
The Road Ahead: Scaling Hood
With the backing of investors and the momentum from Shark
Tank, the future of Hood looks promising. Jasveer and his team are focused on
scaling the platform and expanding its user base. The challenge, however, will
be maintaining the unique value proposition of anonymity and trust while
growing the platform. As he continues to build Hood, Jasveer is mindful of the
lessons he has learned from his previous ventures and is committed to ensuring
that Hood becomes a lasting success.
Timeline for Jasveer Singh's Entrepreneurial Journey:
2011: Jasveer starts his first venture, Abhilaya, a fruit
and vegetable delivery startup.
2015: Co-founds Qik Stay, an online hotel aggregator, which
rapidly expands.
2016: Qik Stay grows to 200 hotels across 50 cities but
faces heavy competition from giants like Oyo.
2019: Exits Qik Stay due to inability to compete with larger
players in the industry.
2021: Co-founds Zorro, a pseudonymous social networking
platform, later rebranded as Hood.
2022: Hood appears on Shark Tank India, securing ₹60 lakh
investment from Aman Gupta and Peyush Bansal.
2023: Hood gains massive visibility, attracting more users
and investors after Shark Tank appearance.
2024: Focuses on scaling Hood while maintaining its unique
value of anonymous social interactions.
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