Anupam Mittal Reflects on Dot-Com Bubble: From Ferrari Dreams to Financial Ruin, How the Shaadi.com Founder Rebuilt His Fortune

Mittal, who became a millionaire at a young age during the height of the dot-com boom, recounted how his life in America seemed like a dream, complete with the purchase of a Ferrari.

By Gaurav Santosh Aug 30, 2024, 16:45 IST

New Delhi, August 30 – Anupam Mittal, the founder of Shaadi.com, recently shared a poignant reflection on LinkedIn about his rise and fall during the dot-com bubble, offering a glimpse into his journey from millionaire to financial ruin and his eventual comeback.

Mittal, who became a millionaire at a young age during the height of the dot-com boom, recounted how his life in America seemed like a dream, complete with the purchase of a Ferrari. However, the bubble burst with alarming speed, wiping out his wealth and leaving him with massive debts. "As quickly as it came, everything was gone," Mittal wrote, reflecting on the collapse of his once-thriving fortunes.

At the peak of his success, Mittal was part of MicroStrategy, a company valued at $40 billion. "Life in America felt like a dream, and I even bought a Ferrari," he shared. But the dream turned into a nightmare when the dot-com bubble burst, leaving him with nothing but memories of a significant win and an even more significant loss.

Returning to India in 2003 with little more than $30,000 to his name, Mittal faced the daunting task of rebuilding his life. Despite the odds, he decided to launch Shaadi.com, a platform for people seeking marriage, even though the domain name alone cost $25,000 at the time—a substantial portion of his remaining capital.

"People called me crazy and questioned my business sense," Mittal recalled in his post. "But I saw Shaadi.com as a game-changer and pushed forward with courage. It turned out to be the right decision."

Mittal emphasized that his journey was never just about the money. "It wasn't about the money for me. I had to prove to myself that I could rise from the depths. My entrepreneurial spirit wasn't tied to any single success or failure. That’s the mindset I continue to work with today," he concluded.

Anupam Mittal's story serves as an inspiring reminder of resilience and determination, demonstrating how even the most devastating setbacks can lead to new opportunities and success.