Founder: Manav Sethi (key leadership by Sanjiv Gupta)
Founded: 2010
Shut Down: 2016
Founded: 2010
Shut Down: 2016
A Vision for Local Discovery
Manav Sethi, a young entrepreneur with a knack for spotting trends, launched AskMe in 2010 from Mumbai. Growing up, he’d watched his parents struggle to find reliable local businesses—plumbers, tailors, or restaurants. Manav dreamed of a platform that would connect Indians with nearby services and deals, a digital yellow pages for the smartphone era. Joined by Sanjiv Gupta, a seasoned executive, Manav poured his energy into making AskMe a one-stop app for local discovery, e-commerce, and deals. His goal was simple: make life easier for India’s bustling urban crowd.
Manav Sethi, a young entrepreneur with a knack for spotting trends, launched AskMe in 2010 from Mumbai. Growing up, he’d watched his parents struggle to find reliable local businesses—plumbers, tailors, or restaurants. Manav dreamed of a platform that would connect Indians with nearby services and deals, a digital yellow pages for the smartphone era. Joined by Sanjiv Gupta, a seasoned executive, Manav poured his energy into making AskMe a one-stop app for local discovery, e-commerce, and deals. His goal was simple: make life easier for India’s bustling urban crowd.
The Moment It Clicked
The idea crystallized when Manav, stuck in a new city, couldn’t find a decent electrician. Why wasn’t there an app for this? With $300 million from investors like Astro Malaysia and Tiger Global, AskMe took off. Its “AskMeBazaar” let users shop from local stores, while its search feature listed everything from salons to cafes. By 2015, AskMe was serving 18 million users monthly, and Manav’s team celebrated stories like helping a small bakery triple its orders. The app’s jingle became a radio hit, and Manav felt unstoppable.
The idea crystallized when Manav, stuck in a new city, couldn’t find a decent electrician. Why wasn’t there an app for this? With $300 million from investors like Astro Malaysia and Tiger Global, AskMe took off. Its “AskMeBazaar” let users shop from local stores, while its search feature listed everything from salons to cafes. By 2015, AskMe was serving 18 million users monthly, and Manav’s team celebrated stories like helping a small bakery triple its orders. The app’s jingle became a radio hit, and Manav felt unstoppable.
The Unraveling
Behind the success, trouble brewed. AskMe’s parent company, Getit Infoservices, relied heavily on its Malaysian investor, Astro, which held a 56% stake. When Astro faced financial woes in 2016, it stopped funding, leaving AskMe cash-strapped. The company owed Rs. 100 crore to vendors, who protested outside its Gurugram office. Employees went unpaid for months, and Manav faced heartbreaking confrontations with his team. Mismanagement and a bloated cost structure—fancy offices, aggressive ads—worsened the crisis. By August 2016, AskMe shut down, leaving 4,000 employees jobless and vendors in despair.
Behind the success, trouble brewed. AskMe’s parent company, Getit Infoservices, relied heavily on its Malaysian investor, Astro, which held a 56% stake. When Astro faced financial woes in 2016, it stopped funding, leaving AskMe cash-strapped. The company owed Rs. 100 crore to vendors, who protested outside its Gurugram office. Employees went unpaid for months, and Manav faced heartbreaking confrontations with his team. Mismanagement and a bloated cost structure—fancy offices, aggressive ads—worsened the crisis. By August 2016, AskMe shut down, leaving 4,000 employees jobless and vendors in despair.
The Emotional Aftermath
Manav was devastated. “We wanted to simplify lives, but ended up complicating so many,” he later reflected. Employees felt betrayed, with some taking legal action for unpaid dues. Small businesses that relied on AskMe’s platform struggled to recover. Yet, AskMe’s impact endured—it pioneered local search in India, inspiring platforms like Justdial to innovate. Manav moved on to new ventures, carrying the scars of failure but also the wisdom to prioritize financial health.
Manav was devastated. “We wanted to simplify lives, but ended up complicating so many,” he later reflected. Employees felt betrayed, with some taking legal action for unpaid dues. Small businesses that relied on AskMe’s platform struggled to recover. Yet, AskMe’s impact endured—it pioneered local search in India, inspiring platforms like Justdial to innovate. Manav moved on to new ventures, carrying the scars of failure but also the wisdom to prioritize financial health.
Lessons from the Fall
- Diversify Funding: Over-reliance on one investor can be fatal.
- Prioritize Vendors: Pay partners on time to maintain trust.
- Lean Operations: Avoid overspending on non-essentials during growth.
A Founder’s Reflection
“AskMe was my heart and soul,” Manav said. “Failure hurts, but it taught me to build with caution and care for those who believe in you.”
“AskMe was my heart and soul,” Manav said. “Failure hurts, but it taught me to build with caution and care for those who believe in you.”
Call to Action
Ever used a local search app or faced a funding crunch? Drop your story in the comments and join Untold Founders to share and learn from bold journeys!
Ever used a local search app or faced a funding crunch? Drop your story in the comments and join Untold Founders to share and learn from bold journeys!