Peyush Bansal: From College Dropout to Shark Tank Judge

Peyush Bansal is one of the judges on the Indian version of the popular reality TV show Shark Tank. He is the co-founder and CEO of Lenskart an online retailer for eyewear. Despite dropping out of college Bansal has become a successful entrepreneur and investor.

Early Life and Education

Peyush Bansal was born in 1983 in a middle-class family in Delhi, India. He studied computer engineering at McGill University in Canada but dropped out after the first year. Even though he did not complete his degree, Bansal learned important skills like coding which later helped with starting his business.

Founding Lenskart

After returning to India, Bansal worked briefly at Microsoft. In 2010, at age 27 he started Lenskart with just $400. Lenskart is an online retailer selling prescription glasses, sunglasses and contact lenses. The company has grown rapidly and now has over 750 stores across India.

Bansal came up with the idea for Lenskart after struggling to find stylish and affordable glasses himself. He saw a gap in the Indian market as buying glasses was an inconvenient process. Lenskart provides a much wider range of frames online and delivers the glasses to the customer’s home after fitting them at a Lenskart store.

Success with Lenskart

Lenskart has been a major success under Bansal’s leadership. Here are some key milestones:

• 2014 – Received $10 million in funding from venture capital investors. Opened first 50 stores.
• 2015 – Expanded to over 100 offline stores. Launched own private labels.
• 2017 – Received $30 million in funding. Grew to over 350 stores.
• 2021 – Became a unicorn startup with over $1 billion valuation. Now has 750+ stores across India.

Bansal has guided Lenskart’s rapid growth while also focusing on profitability, a rare achievement for a startup. Lenskart is now the leading player in India’s online eyewear market.

Investing in Shark Tank India

With his success at Lenskart, Bansal was selected to be an investor judge on Shark Tank India in 2022. The show gives aspiring entrepreneurs a chance to pitch their business ideas to investors.

On the show, Bansal has invested over $2.5 million so far in promising startups. He looks for businesses with an innovative product or services and a passionate founder. Some of his investments include:

• PocketPills – Online pharmacy delivery platform
• Sippline – Beverage dispensing machine company
• PraSaga – Unique eco-friendly kitchen products

Bansal has become a popular “shark” known for his sharp business insights and for giving inspiring advice to entrepreneurs.

Net Worth

According to estimates, Peyush Bansal has accumulated a net worth over $600 million. The vast majority comes from his significant stake in Lenskart which is now a unicorn valued at over $1 billion. He also has earned money from his investments in various startups.

At just 40 years old, Bansal’s net worth is expected to continue rising rapidly given Lenskart’s growth trajectory. His success proves that with determination and the right business idea, college dropouts can still achieve their entrepreneurial dreams.

Key Takeaways

• Dropped out of college but learned coding skills.
• Founded Lenskart in 2010 at age 27 with just $400.
• Grew it into the leading online eyewear retailer in India.
• Became a star investor on Shark Tank India in 2022.
• Estimated net worth over $600 million.

Peyush Bansal’s journey from college dropout to leading entrepreneur and Shark Tank judge demonstrates how perseverance and strategic thinking can create massive success in business and investing.CopyRetry