Didn't take ₹6,840-cr funding in 2014 but then Chinese came: Micromax's Rahul on downfall
Micromax Co-founder Rahul Sharma, during Nikhil Kamath's podcast, revealed rejecting $800-million (₹6,840 crore) funding from Alibaba in 2014. "The business was throwing so much of cash. We said, 'We don't need money'," he added. Rahul said they thought they need to look after Finnish and Korean competitors, adding, "[But] when the Chinese came, they came with so much gunpowder."