Rakesh Verma, his wife who founded MapMyIndia are worth $586M after IPO
Rakesh Verma and his wife once charted India’s cities on foot. The couple founded MapMyIndia and is worth $586M, with almost 54% of the company after its IPO. When Rakesh, 71, and Rashmi Verma, 65, decided to build digital maps of India more than two decades ago, they were literally walking new ground. Long before Google transformed web cartography, the Vermas walked through India's megacities, meticulously recording streets and landmarks. However, the monumental work of developing their startup, MapmyIndia, paid off on Tuesday. Vermas' startup was a smashing success in its trading debut following its initial public offering. The stock increased by roughly 35% and brought the couple's net worth to around $586 million. It was an appropriately daring start for a company that offers digital maps and topographical data covering India's difficult geography. MapmyIndia, formerly known as C.E. Info Systems Ltd., made a successful market debut, ca...