I did it My Way

Posted by Channel 6
July 2, 2012

Success sits easily with him and this is evident from the super beast called the S60 D5 Volvo sports sedan that he drives. Minal Khona talks to Parikshit Madishetty, whose company develops online games for clients in the United Kingdom.
As Managing Director of Grid Logic Software Pvt. Ltd, Parikshit Madishetty, at just 29, can well afford to put his feet up. But given his drive and a head abuzz with ideas, this is something he is not likely to do. His company, which started as Grid Logic Technologies in 2008 with an investment of Rs 1.6 crore, is today worth US$ 5 million.
Seated at the desk in his office, Parikshit recalls, “I always had a passion for online gaming. After my engineering degree in Information Technology, came internship with a gaming company in the UK. Then I worked with Dell for three years, after which I enrolled for an Executive Progamme with IIM Calcutta.
“With savings I set up this company which provides a gaming platform, and called it Gamando. It is a platform that supports online gaming companies. The vision and the plans were all mine. I started with one person; then my friend Harish Beeram joined me. Today we have 30 people working with us.”
Grid Logic Software’s product supports online games like bingo, poker, rummy, casino and social games. Since gaming of this nature is illegal in India, his company only deals with companies in the UK, he explains, adding: “We help providers in the UK with flexible services — games, technology and ePayments.”
Though the company was started in 2008, it was only in 2010 that they launched in real time. The revenue model is one where people pay money to play these games online and Grid Logic Software handles the back office operations along with development and maintenance.
Parikshit now plans a foray into the Indian media scene with games for phones and television. This future focus, however, has not won him many fans. When I quiz him about whether he has had to face jealousy and criticism, he smiles wryly. Obviously, it is something he is used to.
He says, “I come from a family of bureaucrats. Initially, there was resistance to my ideas, but my parents gradually came around. Today they are supportive of me. I have learnt to ignore the things said and am very protective of myself and my family. The most common reaction I get to my ideas is ‘What is so special about your product?’ and ‘What makes you think you can do it?’ I get this from my advisory board too. But my conviction is that I can do it better my way.”
As a boss, Parikshit believes in delegating. “I give my team a lot of freedom and very few of them report to me. I like to leave my mind free and uncluttered so that the ideas can flow in. ” Testimony to the efficacy of his approach is the fact that all the people who joined him are still with him. There has been no attrition. “I pay my team more than the market rate so they think twice before wanting to leave.”
While leaving, I ask him which is the best phone for games. Pat comes the answer, “Nothing beats the iPhone. It is a class apart.”

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