Vivek Oberoi's student loan business now valued at ₹3,400cr
What's the story
Bollywood actor and entrepreneur Vivek Oberoi recently made a revelation that his student loan business is now worth about ₹3,400 crore.
He credited the success to the smart use of his personal brand and the launch of a zero-interest payment plan.
"When I leveraged my brand, it had a positive social impact which was authentic to who I am," he said at an event in Mumbai.
Business expansion
Oberoi's startup reached 12,000 educational institutions
Oberoi's startup, which offers education fee financing without collateral, scaled to 12,000 schools, colleges, and universities via a B2B network.
This customer connection gave the company access to rich data from around 45 lakh people studying at these institutions.
"That was very rich data, and that's how the company was valued at almost $400 million (around ₹3,400cr)," he explained.
Leadership style
Oberoi's unique approach to business and team-building
Oberoi stressed that his personal involvement in the business made all the difference.
He said, "Whenever I fly personally, I fly first class or business class. But whenever I fly for a company that I'm a co-founder of, I fly economy with the whole team."
He believes this not only boosts team morale but also instills fiscal discipline within the organization.
Career shift
Oberoi's transition from cinema to entrepreneurship
In a recent interview with the Indian Express, Oberoi opened up about his transition from acting to entrepreneurship.
He revealed that business was always his Plan B and he decided to make cinema his passion.
"My livelihood should be my business, which helped me earn my independence and get out of that whole trap of lobbies, or having to sell your soul or suck up to somebody," he said.