Ep218 - Nipun Mehra (Co-founder & CEO - Ula) On Ula’s hypergrowth, Bezos backing & the hard call to shut down

The Startup Playbook PodcastInsights and lessons from the world's best entrepreneurs and investors Twitter Facebook YouTube Instagram Ep218 – Nipun Mehra (Co-founder & CEO – Ula) On Ula’s hypergrowth, Bezos backing & the hard call to shut down August 7, 2025 rohitbhargava Podcast My guest for Ep218 of The Startup Playbook Podcast was Nipun Mehra. Nipun has had an incredible track record in his career. At Amazon he launched their first ever real time inventory management system, was an early team member at Flipkart helping build and scale one of India’s most successful and iconic startups before joining Sequoia India as an investor. In 2020, he Co-founded Ula, a B2B e-commerce platform that set out to modernise retail supply chains for millions of small businesses starting in Indonesia. Ula quickly become one of South East Asia’s fastest growing startups. They went from $0 to $300M in revenue within 2 years. Ola also raised over $140M from leading investors including Sequoia, Lightspeed, Tencent and even raised capital from Jeff Bezos himself, his first investment into this part of the world. But in a candid and deeply honest conversation, Nipun shares – for the first time publicly – the full story of what happened behind the scenes from Ula when he decided to shut down the company and return the remaining capital to investors. From hypergrowth to hard calls, this episode dives into the reality of building a company at scale and the weight of leadership at challenging times. In this episode we cover: Nipun’s lessons from his time with Amazon, Flipkart and Sequoia The hypergrowth journey behind Ula Why he decided to shut down Ula and return the capital vs find another path Coming to terms with the ups and downs of the journey & much more I’m also excited to announce that Nipun will be joining The Komo Club as a speaker for Cohort 2. The program is the world’s first human accelerator, designed to help high performing founders and executives implement the right system and frameworks to help them succeed in business and all areas of their life. You can find out more at thekomoclub.com Timestamps: 00:03:08 Nipun’s background: Early entrepreneurial drive 00:07:00 College startup attempts and discovering India’s nascent internet scene 00:14:47 What Amazon & Flipkart taught him about audacious targets and culture 00:20:38 How to set “aggressive but achievable” goals without crossing into folly 00:29:23 Why Indonesia? The leap of faith that launched Ula in Southeast Asia 00:38:37 Securing Jeff Bezos’ first SEA investment and the six-page memo that closed the deal 00:41:31 Scaling to ~US $300 M GMV in two years during COVID 00:43:20 The decision to shut down Ula and return the remaining capital to investors 00:55:13 Lessons on investor alignment 01:04:45 Nipun’s new venture, lessons from Ula he’s applying Our partners: Thank you to Karl Noronha, Ganesh Rengaswamy and Prithvi Rajaram for their help with research for this interview! A big shout out to our long-term partners for the show: Scendar  Scendar is the OG startup accounting firm in Australia catering to all stages of your business’ life. If you’re busy running your startup, you don’t have time to do your own books and forecast. Instead, fully outsource your finance function, giving you time and resources back to focus on what you do best in growing your business. Find out more at Scendar.com Vanta Vanta helps businesses get — and stay — compliant by automating up to 90% of the work for the most in-demand compliance frameworks. And with over 300 integrations, you can easily monitor and secure the tools your business relies on. Join over six thousand fast-growing companies that use Vanta to manage risk and prove security in real time. The Startup Playbook Podcast listeners get access to an exclusive offer of USD$1000 off their plans. Head over to vanta.com/podcast to get access to this exclusive discount. Links mentioned: The Komo Club: The world’s first human accelerator Nipun’s links: Nipun on LinkedIn People mentioned: Jeff Bezos Larry Page Marissa Mayer Elon Musk Karl Noronha Ganesh Rengaswamy Prithvi Rajaram Companies mentioned: Ula Amazon Flipkart PhonePe Sequoia Capital India / Peak XV Partners Lightspeed Venture Partners Boston Consulting Group Tiger Global Tencent Prosus Bezos Expeditions Udaan Shopee Mercado Libre Coupang Google Meta Reliance Jio Reliance Industries Gojek Tokopedia Playbook Ventures Feedback/connect/say hello: Rohit@startupplaybook.co @RohitBhargava7 (Twitter) /rohbhargava (LinkedIn) @rohit_bhargava (Instagram) My Youtube Channel Credits: Music: Paycheck Other channels: Find all of the links for the podcast on Linktree here https://traffic.libsyn.com/secure/startupplaybook/Ep218_-_Nipun_Mehra.mp3 Podcast: Play in new window | Download | Embed Subscribe: RSS admin January 1, 2014 Reply Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat admin January 1, 2014 Reply Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat admin January 1, 2014 Reply Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. 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