Caratlane: Anatomy of a glittering exit
SummaryIn a rare event for the Indian startup ecosystem, founder Mithun Sacheti has exited online jeweller Caratlane for a cool $556 million. Most founders have their net worth tied up in their companies’ shares.
Mumbai/ New Delhi: He started his business in 2008, at the height of the Lehman Brothers collapse, and he’s walking away in 2023, at the height of the startup funding winter. When news of the Titan-Caratlane deal broke over the weekend, observers were struck by founder Mithun Sacheti’s timing, and, of course, how he would walk away with a cool $556 million, in a rare, clean, cash exit.