Starting of IRIS

After completing MBA from IIM Ahmadabad she join

American express bank and later moved to CRISIL. The idea of starting something of own is come in 1994 but the primary idea it is of swaminathan . The idea was discussed couple of month .The team of people from CRISIL got interested in the idea of stating something entrepreneurial.

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After all discussion the Deepta and some of

colleagues quit CRISIL and swami quit business India and that how the IRIS was born. Iris started with very little money no venture capital ,little savings ton draw on..the team started with seed funding from some friends involved in financial market who like the idea. It started with no ownership in the company . the first office of IRIS was at Narman point with single room.

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IRIS was primarily working on project in the earlier

days with city bank and Morgan Stanley were their earliest customer. From 7 people who started together a company 1994,iris grew to 40 by 1999. In 1 or 2 year more IRIS quickly grew to 200 people

Challenges faced by IRIS

In 2003 all of sudden , there was huge crises. The

funding which was already committed by investors suddenly dried up on account of poor treasury management by the seed investors. The difficult bit was that the founders of IRIS never really owned the company. Incredible as this may sound , they got to buy a small amount of equity just before funding come in .but the majority stake was still with the seed investors.

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The company managed to pay salaries and to continue

operation , there was only one time when company delayed salaries close to a month. In the next 2 and half year company IRIS went from 180 people to 20 The 2004 is the roughest year and since then revenue has been ramping up rapidly .from 2005-2007 revenue has been jumped 17 times and now things are coming on track