LawSikho, an edtech company headquartered in Gurugram claims to have achieved a double revenue in FY 22-23 to Rs 37 crore, up from Rs 18.57 crore the previous year. With this significant growth, the company is eyeing a revenue of Rs 100 crore by 2023-24.
So is Ramanuj then one of the richest NLU grads? Certainly the richest NUJS grad and possibly the richest Gen Y grad from all NLUs? What a success story! Comes from a pretty humble background in terms and wealth and schooling, yet took a high-risk career path instead of the typical middle class job mentality.
Lawsikho is not very old, started in 2019, after flame out with NUJS. No point comparing with a 100 year old law firm. But doubling every year pretty impressive acceleration for any startups, especially given that in legal edtech much better funded startups have failed while lawsikho is bootstrapped
Ramanuj doesn't earn 100% of the revenues! He has employees to pay, IT costs, advertising costs etc. Plus there is another director too. If I assume that Ramanuj is around 35 and started iPleaders/LawSikho when he was around 25, and suffered a few hiccups along the way, then I think his personal earnings over 10 years will be around 4.5 crores. Don't be fooled by media and PR hype (which projects every startup as a unicorn) and Ramanuj's LinkedIn swag (like most LinkedIn bros, he has an attitude of faking it before making it).
Of course, 4.5 crores earnings by age 35 is still pretty good. If he invested wisely (e.g. buying apartments or shares) he could have doubled that amount. Also, if his new venture pays off, then from age 35 to 45 he could make 12-15 crores.
Bottomline: Even though Ramanuj's rants against NLUs, wokes, liberals and elites may be annoying, he's got a lot of guts and has set up a good business. He is his own boss and doesn't need to take orders from Cyril or Vandana or Paridhi Shroff. Many NLU grads are secretly envious of him and would love to set up their own successful business like him. Also, pretty much all startup founders have an aggressive bro attitude: Asheer Grover, Nikhil Kamath etc. Don't grudge Ramanuj for it.
In a case of a startup, its not the salary that makes founders rich, but the equity. If he owns enough equity, he will make money on an exit event. Given that it’s a bootstrapped company, it’s likely he has significant equity. Can he reach 500 cr valuation for his company? That will be key.
Link: https://www.financialexpress.com/jobs-career/education-lawsikho-achieves-double-revenue-in-fy-23-targets-rs-100-crore-by-2024-opens-new-vertical-3116297/lite/
They are becoming bigger than many firms? Just a few years ago Khaitan was making around 300 cr.
Also Skill Arbitrage is another vertical thats not law
I guess not more than 50% of the revenue comes from just legal education
Law students are about 10%
Another 10% recent law grads who want to land a job
70% lawyers above the age of 30, half of them over 40
So give where credit is due and don’t be salty
They are catering to a global market and thats how they will reach those numbers
Of course, 4.5 crores earnings by age 35 is still pretty good. If he invested wisely (e.g. buying apartments or shares) he could have doubled that amount. Also, if his new venture pays off, then from age 35 to 45 he could make 12-15 crores.
Bottomline: Even though Ramanuj's rants against NLUs, wokes, liberals and elites may be annoying, he's got a lot of guts and has set up a good business. He is his own boss and doesn't need to take orders from Cyril or Vandana or Paridhi Shroff. Many NLU grads are secretly envious of him and would love to set up their own successful business like him. Also, pretty much all startup founders have an aggressive bro attitude: Asheer Grover, Nikhil Kamath etc. Don't grudge Ramanuj for it.