Sriharsha Majety Net Worth: Bio, Education, Career, Family And More
Sriharsha Majety, an Indian entrepreneur, serves as the co-founder and CEO of Swiggy, a prominent food delivery platform. Prior to establishing Swiggy, he co-founded Bundl and gained experience as an associate at Nomura International’s offices in India and London.
Early Life and Family
Born in 1988 in Vijayawada, Andhra Pradesh, Sriharsha Majety hails from a well-to-do family background. His father owned a restaurant in Andhra Pradesh, while his mother pursued a career in medicine.
Education
After completing his secondary education in Andhra Pradesh, Majety moved to Jaipur for further studies. He obtained a Bachelor of Engineering in Electrical and Electronics from Birla Institute of Technology, Pilani, followed by a Master of Science in Physics from the same institute. Driven by a family history of entrepreneurship, he pursued a postgraduate diploma in management at the Indian Institute of Management, Kolkata.
Career
Early Career
Initially, Majety worked as an investment banker in London. However, his passion for entrepreneurship drew him back to India.
The Foundation of Startup: Bundl
Returning to India, Majety sought opportunities in the startup scene. Failing to find a suitable venture, he decided to create his own. In 2013, along with his college friend Nandan Reddy, he established Bundl, a courier service aggregator. Despite their efforts, Bundl faced challenges, including the absence of a technical co-founder and shifting market dynamics, leading to its closure within a year.
The Pivot: Swiggy
Undeterred by Bundl’s failure, Majety and Reddy pivoted to another idea—hyper-local food delivery. Thus, Swiggy was born in 2014, with the addition of Rahul Janmini as a tech co-founder. Operating from a modest office in Bangalore, Swiggy quickly gained traction, raising $2 million in its first funding round in 2015. By 2018, it achieved unicorn status, and by 2024, it reached a valuation of $10.7 billion, earning the distinction of a decacorn.
Net Worth
As of 2024, Sriharsha Majety’s estimated net worth stands at INR 14,000 crore, while Swiggy boasts a valuation of $10.7 billion. Additionally, Majety earned a monthly salary of INR 3,000 in 2019.
Personal Life
Majety married Neetha, his college sweetheart, with whom he shares a child. Their relationship blossomed during their days at IIM, culminating in a love marriage.
Lesser-Known Facts
- Following his completion of a Master’s program at Birla Institute of Technology, Pilani, Sriharsha Majety ventured into the CFA program, only to discover that his true passion lay elsewhere.
- Swiggy made its debut in Koramangala, Bengaluru, with a modest fleet of 6 delivery partners and a selection of 20 restaurants. The company actively recruited these partners and restaurants to integrate into its burgeoning platform. While the delivery partners ensured prompt delivery to customers, the restaurants diligently prepared the orders.
- In addition to his stellar academic journey, Majety delved into numerous extracurricular pursuits. At university, he played an integral role as both an active member and coordinator within the inaugural photography department.
- Amidst his academic pursuits, Majety also embraced professional experiences, working as a summer analyst during breaks between classes.
- During his downtime, Majety finds solace in traveling. Remarkably, he dedicated six months to traversing Europe and Asia on a shoestring budget.
- Further underscoring his adventurous spirit, Sriharsha Majety embarked on a three-month bicycle journey from Portugal to Greece. His global odyssey spanned a year from 2012 to 2013, encapsulating his zest for exploration.
