Vinayak Shrivastav is the CEO and Co-founder of VideoVerse, a video technology company that encapsulates an ecosystem of smart video editing tools using AI and provides next-generation platforms for all enterprise and individual creators. He, along with his partners Saket Dandotia, and Alok Patil identified a need for automation in the video content category, giving way to the inception of VideoVerse. In his current role, Vinayak spearheads the strategic goals of the company to create a profitable future roadmap. He has built the sales and marketing strategy from scratch and under his leadership, the company has witnessed a significant growth of over 200% year on year.
Tell us about your childhood and where you grew up?
I grew up in Pune, a city in west India; a hub for a lot of technological innovation and automobile companies. Living in a diverse neighborhood, it was easy for me to be influenced by the technology that surrounded me at an early age. My childhood was conventional, I grew up with a supportive family who believed in the ethics of hard work and perseverance. Though it was the university that shaped the innovator I have become. When I moved on to business school my initial internships exposed me to the investment and innovation side of the industry.
How did you get started as an entrepreneur?
After business school, I began work as a Venture Capitalist, steering high-growth start-ups towards profitability. Working closely with the media sector, I experienced first-hand the slow innovation and adoption of new-age technologies. It was through this experience, and my background in engineering, that I was inspired to partner with Alok Patil and Saket Dandotia; I met the pair at an industry party and we realized we had similar thoughts on bridging a solution, which became Magnifi.
What is one business lesson you would tell a startup founder?
As a founder myself, I have learned that perseverance, hard work, and conviction in your vision are the best practices to find success. If I had to pick one to home in on, I would select hard work. No matter how cliché it may sound, if you don’t put in blood and sweat into what you truly believe in, you will not succeed. That doesn’t mean you have to stop learning. It’s important to remember our journeys are always evolving, never believe you have fully mastered the work culture or anything else.