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LASDAX
FROM HUMBLE BEGINNINGS TO SOARING HEIGHTS
LASDAX: The little-known startup redefining 'Investing'
Author: Muneer Sharif Hasan Written on: 11 Sep 2023
'Fortune', one of the best-known global magazines awarded its Young Entrepreneur of The Year-2023 in MEA Region to the founder of a little-known startup, LASDAX. Despite beginning its operations just a couple of years ago, LASDAX, an investment firm founded and led by its talented CEO, Perati Anup Reddy, is setting new benchmarks in the industry.
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Anup Reddy Perati
About LASDAX -
LASDAX is a bootstrapped startup founded by former MIT Engineer, Anup Reddy Perati. It is an investment firm that trades in the equity markets in the U.S., Europe, and certain parts of Asia. It began operating with half a dozen employees at the founder's residence in New York and then expanded to Dubai in November. Lasdax's Dubai office currently has around 55 employees and now serves as its primary operations hub. After finding its feet in the equity market, Lasdax also started investing in early-stage startups and as per the information available, it has investments in at least 4 US-based companies.
Lasdax initially gained popularity after it became the first start-up in history to bag more than a single nomination for The Bloomberg Regional Awards. It went on to win the award as the best startup while its CEO, Perati Anup Reddy, received an honorary mention for his outstanding leadership capabilities. Such has been the scale of its growth that it is now valued at $200 Million on the backdrop of outstanding financial results during the past year. Lasdax reported a $7 Million profit for the year 2022 and this puts the firm’s valuation well over $200 Million given the current financial metrics in the industry. With its presence in financial hubs like Dubai and New York, coupled with healthy cashflows and expansion plans, LASDAX is well placed to achieve the coveted 'Unicorn' status within the next 3-4 years.
What we know about it's CEO, Anup Reddy Perati
The firm is being led from the front by its talented CEO, Anup Reddy Perati. He is said to come from a very humble background in India and made his name during his time as a student at the Massachusetts Institute of Technology. He graduated with a bachelor’s degree in Computer science and with a place on the prestigious Dean’s list. He had interned at NASA and then went on to take a senior role at Facebook in Singapore before joining hospitality giant Accor as their Partner Independent Director in Europe. He is a member of the Prometheus High IQ Society (which has less than 35 members throughout the world) and was also a recipient of the Presidential Award of Excellence in 2014. Forbes Magazine, in 2012, ranked him as the best technical student at that time. He is regarded as an exceptional leader and a visionary, partly explaining Lasdax's success in such a short time.
In a TV Interview with The Khaleej Times Network, LASDAX's COO, Hayley Mathews, credited their success to the way things are set up by their CEO, Anup Reddy Perati. She said that there is zero employee churn and that every employee is asked to prioritize their work-life balance. She even mentioned that the company was completely shut for trading for 2 weeks in December 2022 where employees were asked to spend their entire time with their families. She said that there is freedom, ownership, and decision-making power, and even when things go wrong, Anup does not blame his team. “He always carries a smile and is literally the most humble person I've ever come across”, she quoted.
More about LASDAX:
LASDAX is working to shift its operations hub from Dubai to Switzerland and that is expected to take shape by the end of the first quarter of 2024. It is also looking to expand into India and Thailand in the near future. Several Financial giants such as Softbank Inc., EIM, and Bridgewater have failed in their attempts to purchase a stake in LASDAX. It is believed that LASDAX has the support of the U.S. hierarchy and as such can rebuke any advances being made by these MNCs. LASDAX, in the COO Hayley’s words, will never be put for sale nor listed publicly.