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Impressed with their ability to extract insane fares, Startups to hire Chennai Autowalas to extract funding from investors

08, Jan 2016 By Hemant Bijapurkar

Chennai: In a bid to negotiate better deals with Venture Capitalists and Angel Investors, most startups are now all set to hire Chennai autowalas to get maximum amount of funding.

Parking lot of Indian Silicon Valley
Parking lot of Indian Silicon Valley

This idea to hire Chennai autowalas came to the founder and CEO of a newly launched e-commerce website who inexplicably decided to take an auto from Chennai central railway station to Anna airport and had to sell all his equity to come up with the Auto fare.

He reportedly had to haggle with the autowala for about 2 hrs before the autowala agreed to swap his shares for the auto ride. He then came up with an idea of hiring the autowala and make him negotiate with the investors during the 5th round of funding for his latest startup.

We spoke to one such autowala who has been hired by another startup, he told us,”Well honestly I don’t understand why everyone makes such a fuss about our charges. Our rates are fixed. Like if you book a luxury sedan it costs you a fixed rate of about Rs 20 per KM and no one disputes it. Now if you sit in my Auto I will also charge you Rs 20, but for every centimeter. Somehow it impressed these startup guys and they hired me.”

When we asked him about his fees for working for the startup he said, “Well you can say that I virtually own the company now. But I am good value for the money I get. I was recently going over the funding history for this startup and found that they had just raised Rs 30 crore in the last fiscal when as there was a scope to raise about Rs 3000 crores. With some of my haggling skills to help them, we would easily raise about 1 Billion dollars in the next round of funding.”

After the initial surprise, Venture Capitalists have also started preparing to counter this tactic of bringing Chennai autowala to the negotiation table. They have started hiring Bangalore autowalas as a counter measure in the hope that both sets of autowalas would nullify each other’s effect.