This woman turned down Rs 145 crore offer but she refused it. She worked hard and turned her company into a Rs 8300 crore firm. Know her story here.
There was a time in America when the immigrants, people of colour would not even imagine building a start-up let alone any immigrants' company being a multi-million dollar company. In times like that, a determined woman living in Florida set up her company and turned it into a Rs 8,308 crore company, as per Forbes.
Suneera and her brother Sal Rehmetullah started Stax in 2014. It is an all-in-one payment platform which charges fees on a monthly subscription basis rather than a percentage of sales model like other platforms.
Suneera is originally from Pakistan. Her parents hail from Karachi. Suneera graduated in finance from the University of Florida. After graduation, she worked with Atlanta-based payment processor First Data. While working there, the idea of doing away with the percentage-based transactions came to her.
She approached her bosses and around 12 banks but none of them took her seriously. She then shared her idea with her parents and they encouraged her to work on her idea. The siblings then started working on a platform that charges on a monthly subscription basis.
She went to Orlando and pitched her idea to the business, and they were able to sign 100 clients. While the sibling were pitching their idea, they were offered a Rs 145 crore deal to buy Stax. Although, they refused the offer it gave them the confidence to go ahead with the business.
Read: Meet IIT dropout who co-founded $ 2.9 billion company at 19 with Ashneer Grover, became youngest person to...
Both of the siblings had left their jobs, hence, money was tight. They took a loan of USD 50,000 from family and friends and invested the money in their company. The company has employed over 300 people as of now, suggest reports.
After 10 years of working in the company as CEO, she parted ways. She then founded a group called CEOSchool. She also runs a podcast channel. She is the mother of two daughters -- Mila and Aana. She is a wine enthusiast and an avid reader.
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