The Daksh Business Plan Case (A) enables the study of early business formation and venture capital funding within an international setting. This case relates to the company's first round of funding in December 15, 1999. Sanjeev Aggarwal co-founded Daksh as one of the first independent India-based BPO (Business Process Outsourcing) companies that targeted U.S.-based customers from the outset. The case introduces the industry, Daksh's founders, the company's initial formation, and its first business plan—as presented to a small number of angel investors in India. Students are asked to evaluate Daksh's investment opportunity from the perspective of India- and U.S.-based investors, while focusing on its financial projections, term sheet, and expected returns. This case is part of a 2-case series. Since both cases are intended to be used together in class, it is important that students be advised to refrain from letting subsequent information from case (B) severely 'contaminate' the discussion of case (A). The Daksh Business Plan Case (B) enables the study of business formation and venture capital funding within an international setting. This case relates to the company's third round of funding in September, 2002. It introduces India's rapidly-evolving Business Process Outsourcing (BPO) industry, Daksh's growth, its acquisition of marquee customer Amazon.com, and Daksh's third business plan—as presented to potential investor General Atlantic. Students are asked to evaluate Daksh's investment opportunity from the perspective of a U.S.-based investor, while considering its financial projections, strategic investors (Amazon.com), human resource policies, term sheet, and expected returns. This case is part of a 2-case series. Both cases (A and B) are intended to be used together in class, and each one describes Daksh at a different round of funding. This case (B) will also highlight some differences from the time of case (A), and should accompany a complementary reading: the Letter of Intent/Term Sheet submitted by General Atlantic for the company's third round of venture financing.
