The story of boAt founder Aman Gupta, Struggle Behind the Success

Who is Aman Gupta?

Aman Gupta, co-founder of boAt, is a name synonymous with innovation and the spirit of Indian entrepreneurship. Gupta's journey from a middle-class boy with a passion for technology to the co-founder of one of India’s leading consumer electronics brands is nothing short of inspiring.

Finding multibagger stocks is important for building wealth. Discover potential multi-baggers at Sovrenn Discovery.

Early Life and Education 

Aman was born on March 4, 1982 in Delhi. He completed his schooling at Delhi Public School of R.K. Puram. He graduated from the University of Delhi with a bachelor’s degree in commerce. His father suggested him, pursue a career in Chartered Accountancy and He was the youngest person to pass the CA exam in 1999. 

But, he was not so happy in doing CA, as he said in some of his interviews that he was not finding a kick in it. He applied to a few companies but got rejected. finally, he got a job and worked there for 2 years. But Aman did not find it interesting as well. He talked to his father and decided to start a business, he was doing well and worked for around 5 years in it. He learned a lot of things from his father about business.

Despite his achievements, Gupta harboured a deep interest in technology and consumer electronics. This interest and passion led him to the Indian School of Business, where he earned an MBA in finance and strategy, and later to the Kellogg Graduate School of Management in the USA, where he pursued another MBA in management and marketing.

Investing has built huge wealth for several HNI investors. Learn investing FREE OF CHARGE at Sovrenn Education

Aman Gupta wife 

Aman married his college friend Priya Dagar when he was 27. He really loved and convinced her to marry after 3 years. It was the time when he was doing business with his father. Priya balanced him at every moment of life even when he was not happy with the business. 

She suggested him pursue MBA. She was working when Aman was busy in his startup and always helped him in finding direction. The couple are also blessed with two daughters.

Entrepreneurial Initial Struggles

Gupta’s entrepreneurial journey was not a straightforward path. Before founding boAt in 2016, he faced several setbacks. He started and shut down five businesses, each failure serving as a stepping stone and learning experience. 

These early ventures included a stint at Citi Group as an Assistant Manager and roles in various other organizations. Aman’s persistence and willingness to learn from each of his failures set the foundation for his future success.

The Birth of boAt

The idea for boAt was born out of a simple observation by Aman in the India Market: the need for affordable, stylish, and high-quality audio products in the market. Aman at the age of 36 with his friend Sameer Mehta co-founded boAt with an initial investment of approximately 30 lakh rupees. They started working out of a co-working space in Hauz Khas Social, at that time they were unable to afford larger offices. Sameer used to work from Mumbai.

The company began as a seller and manufacturer of cables, gradually expanding its product line to include headphones, earphones, speakers, and other accessories. Aman’s experience at JBL, where he was responsible for offline distribution and product management, proved invaluable. His insights into the Indian market helped shape boAt’s product offerings.

Also Read: Mukul Agrawal's Journey, From a Mumbai local to a prominent Investor and Financial Maverick

Challenges

The journey of boAt was fraught with challenges. One of the significant hurdles was the geopolitical tensions with China, a major production hub for boAt’s products. The COVID-19 pandemic further exacerbated these issues, causing delays in product development and production.

Economic and supply chain challenges also posed threats. boAt relied heavily on e-commerce platforms like Amazon and Flipkart, which accounted for over three-quarters of its revenue. Aman’s strategic vision and resilience helped him navigate through all these tough times.

Key aspects of boAt’s success

A key aspect of boAt’s success has been its ability to innovate based on customer preferences. The company adopted an agile business model and focused on consumer needs and behaviour patterns. For instance, they identified and addressed the issue of low-quality iPhone charging cables by offering stronger alternatives. 

In the starting, they even hired young interns as their customers were also young people, they focused on the needs and demands of young customers. Gupta’s approach to business was centred on problem-solving and real-time adaptation to customer feedback. This customer-centric approach helped boAt build a loyal customer base and maintain a competitive edge in the market.

The company also emphasized a lot on digital marketing and social media to promote its brand. They collaborated with famous social media influencers and celebrities like Virat Kohli, Shikhar Dhawan, and Rishabh Pant which helped to boost its visibility. 

Also Read: Ghazal Alagh: From Motherhood Challenges to Mamaearth's Billion-Dollar Triumph

Partnerships with events like Lakme Fashion Week further established boAt as a lifestyle brand rather than just an electronics company. boAt’s growth story attracted significant investment, including a $60 million investment from Malabar Investments and Warburg Pincus. 

This funding enabled boAt to expand its presence across channels and geographies, strengthen its position in the audio market, and support local manufacturing under the Make In India initiative.

Aman Gupta net worth

Aman Gupta’s success has made him a prominent figure in the Indian startup and business ecosystem. He is one of the famous and cool sharks at Shark Tank India. With a net worth of ₹700 crores, he emerged as the highest investor in the initial season of Shark Tank India. His journey serves as an inspiration for entrepreneurs, he has shown if you want it then you can achieve it.

He is very much interested in startups and his investments in various startups, including Shiprocket, WickedGud, and Skippi Ice Pops, demonstrate his commitment to fostering the startup culture in India.

Aman Gupta’s journey from a middle-class boy to the co-founder of boAt is a story of innovation, resilience and entrepreneurial spirit. Despite facing numerous challenges, his strategic vision and deep understanding of the market helped boAt become a household name in India.

Also Read: Man from Bihar Azhar Iqbal, who changed the reading news habit and made Inshorts worth over 4000 cr