The BNPL winter killed our weaker competitors. It made us stronger because we had to get profitable. We did.
Profitability isn't something we discovered recently. We've been profitable since 2017. We just didn't make it our personality.
We were profitable before we took a dollar of venture capital. SoftBank didn't save us — they accelerated us. That's the only reason to take outside money.
We were profitable before we went public. That wasn't an accident. We don't believe in growing at all costs.
When I became CEO, people said Etsy was a charity pretending to be a company. We proved you can have values and margins. They're not mutually exclusive.
We went public via SPAC in 2021. People called SPACs a scam. Our stock dropped 80%. Then we posted five straight profitable quarters and the stock 10x'd. Execution beats narrative.
We hit profitability in France before expanding. That was intentional. We didn't want to be another neobank burning cash in five countries at once. Profitable in one, then expand. Old school. It works.
When the market crashed, we cut costs, shut down Shopee in France and India, and focused on profitability. Q4 2022 — first profitable quarter. Sometimes the best growth strategy is knowing when to stop growing.
Monzo has the brand. Revolut has the hype. Starling has the profitability. We became the first UK neobank to turn a profit. Not revenue — profit. In banking, that's the only metric that matters.
We have never raised a single rupee of external funding. Zero. Every broker in India was chasing VC money and we just built a profitable business from day one.
We were profitable before we raised a single dollar of venture capital. I bootstrapped for 7 years. The VCs did not discover us — we let them in after we had already won.
People ask me why we did not raise more money. Raise more money for what? We were profitable. We were growing. More money just means more people telling you what to do.
We raised $15 million in an ICO. That is all the outside capital Binance has ever taken. We never needed VCs because we were profitable from month one. When you charge 0.1% on $76 billion in daily volume, the math works.
I would rather own a boring business that makes $10 million a year than a sexy startup that burns $10 million a year.
The scooter graveyard narrative is over. We are profitable, growing, and the last company standing. That is how you win a category.
Bird went bankrupt. Spin shut down. Jump was sold. We survived because we obsessed over unit economics when everyone else obsessed over growth.
Profitability is not a dirty word. We proved you can grow fast and make money in India. Just not at the same time.
Profitability is not optional in India. Investors will not subsidize you forever. We were profitable before IPO and proud of it.
We became the number one brokerage in America by volume. Now we need to become the number one in profitability.
We made 6.2 billion dollars in profit in the first half of 2024. With fewer than 100 employees. Find me a more efficient business.
Revolut has 40 million users and billions in losses. Bunq has 12 million users and is profitable. I prefer our model.
We became the most valuable startup in Latin American history. Then we learned that valuations aren't profits.
Fashion rental is inevitable. The only question is whether we prove the economics before we run out of money.
Profitability wasn't optional — it was survival. We had to prove food delivery economics work.
Profitability requires discipline. We laid off thousands and cut spending. It was painful but necessary.
An 80% stock decline teaches you that growth without profitability is just expensive marketing.
Profitability is not a destination. It is a discipline. We got there by cutting what didn't work and doubling down on what did.
They said food delivery couldn't be profitable. They said gig economy was a race to the bottom. We proved both wrong.
Profitability in delivery is not impossible. It just requires making advertising revenue larger than delivery losses. That's what we did.
We never raised venture capital. We were profitable from year one. In fintech, that makes us a unicorn and an alien.
We became profitable faster than any Indian insurtech because we focused on unit economics from day one. Growth without profitability is just expensive marketing.
We compete with Microsoft and Salesforce. We are a fraction of their size. But we are profitable and they depend on Wall Street. I like our position better.
Profitable, fully autonomous vehicles at scale are still a long way off. We're being honest about that.
Profitability before IPO is not conservative. It is respectful. It means you are not asking public investors to fund your experiments.
The most important thing for us is to get to profitability in streaming. We are laser-focused on that.
If a customer is not profitable for UPS, we need to have a conversation about pricing. Every customer relationship has to work for both parties.
Autodesk was not a sexy story. But it was a real story. Every year, real revenue, real profit.
Somehow, we have come to equate profitability with a lack of ambition.
As we look ahead to the new year and drive towards profitable growth, I am confident that we can cement our position as our country's leading tech company for many years to come.
As one of the early investors in Gojek and a commissioner of GOTO, I have always had great confidence in the company. If my nomination is approved by the shareholders, I will dedicate myself fully to GOTO and work together with other members of the board to drive progress across business units, continuously optimize the company's strategy towards profitability targets, and strengthen the foundation for long-term growth.