Startup Case Studies¶

Learn from the successes and failures of 90+ real-world startups. Our case studies cover funding rounds, term sheet negotiations, founder-investor conflicts, and exit outcomes from both Indian and global companies.

Indian Startups¶

Flipkart-Walmart ($16B Exit)¶

India's largest startup acquisition. How liquidation preferences affected founder and early investor returns. A masterclass in building a company to a successful exit.

• Key Lessons: Liquidation preference impact, exit negotiations, multiple funding rounds
• Read in Chapter 23

Housing.com¶

The dramatic founder-board conflict that led to CEO removal. A cautionary tale about board composition and investor relationships.

• Key Lessons: Board dynamics, founder-investor conflicts, governance failures
• Read in Chapter 12

Stayzilla¶

How predatory debt terms led to founder arrest. A stark warning about personal guarantees and liability exposure.

• Key Lessons: Debt structures, personal guarantees, founder liability
• Read in Chapter 11

BYJU'S¶

Over-valuation challenges and governance issues. Lessons on sustainable growth vs. aggressive fundraising.

• Key Lessons: Valuation discipline, governance, growth sustainability
• Read in Chapter 13

BharatPe¶

Co-founder conflicts and board dynamics. How internal disputes can derail a high-growth company.

• Key Lessons: Co-founder agreements, board management, conflict resolution
• Read in Chapter 4

Global Startups¶

Facebook¶

Zuckerberg's dual-class structure that maintained founder control through IPO and beyond. The gold standard for founder protection.

• Key Lessons: Dual-class shares, founder control, voting rights
• Read in Chapter 10

WeWork¶

The governance failure that destroyed $40B in value. Unchecked founder power without proper board oversight.

• Key Lessons: Governance failures, board oversight, investor due diligence
• Read in Chapter 12

Uber (Travis Kalanick)¶

How board dynamics led to founder removal. The power of investor coordination against a dominant founder.

• Key Lessons: Board composition, investor alignment, founder removal
• Read in Chapter 12

Snapchat IPO¶

No-vote shares for public investors. An extreme approach to maintaining founder control post-IPO.

• Key Lessons: IPO structuring, public market dynamics, control retention
• Read in Chapter 21

Browse by Outcome¶

🟢 Success Stories¶

Companies that navigated funding successfully and achieved positive exits:

• Flipkart-Walmart exit
• Zomato IPO
• PhonePe valuation growth
• Facebook's founder-controlled growth

🟡 Cautionary Tales¶

Companies that survived but faced significant challenges:

• BYJU'S valuation corrections
• Uber leadership transition
• BharatPe founder disputes

🔴 Failures and Warnings¶

Cases where things went seriously wrong:

• Housing.com founder removal
• Stayzilla founder arrest
• WeWork governance collapse

Browse by Topic¶

Liquidation Preference Impact¶

• Flipkart-Walmart payout analysis
• Down round case studies

Founder-Board Conflicts¶

• Housing.com CEO removal
• Uber's Kalanick ouster
• WeWork board failure

Valuation Lessons¶

• BYJU'S over-valuation
• WeWork pricing collapse
• Paytm IPO challenges

Governance and Control¶

• Facebook dual-class success
• Snapchat no-vote structure
• BharatPe co-founder conflicts

Where to Find Full Case Studies¶

Our case studies are woven throughout the guide to provide context for each topic. The most comprehensive case study coverage is in:

• Chapter 23: Success Stories and Lessons from India - Deep dive into Indian startup case studies
• Chapter 11: Recognizing Dark Patterns - Cases of predatory terms
• Chapter 12: Board Dynamics and Governance - Board conflict case studies
• Chapter 13: Navigating Down Rounds - Companies that faced valuation challenges

Each chapter in our complete guide includes relevant case studies to illustrate key concepts. Explore the full 25-chapter guide for comprehensive coverage of 90+ real-world examples.