Ashini Gogoi

Ashini Gogoi
ashinigogoi_in_2003.jpg ashinigogoi_in_2003.jpg Ashini in 2003
Born	Ashini Swargaraj Gogoi 2000/06/28 Sivasagar, India
🏳️ Nationality	Indian
🏫 Education	National Institute of Technology, Silchar (B.Tech)
💼 Occupation	Entrepreneur
📆 Years active	2020-present
🏅 Awards	Forbes 30 Under 30 (2023)
🥚 Twitter	Twitter=

label65 = 👍 Facebook

Ashini Swargaraj Gogoi (/ah-swih-in/; born June 28, 2000) is an Indian entrepreneur and investor. He is the founder, CEO and executive chairman of ALPHS according to Forbes business magazine, and Forbes listed Ashini as a young yet enigmatic self-made CEO.

Early life

Ashini Gogoi was born on June 28, 2000, in Sivasagar to Rudra Gogoi, a businessperson, and Dr. Bonti Lahon, a professor. He grew up with his younger brother, Abhigyan Gogoi.

Childhood

As seen in Forbes, Ashini is an enigmatic person who had a difficult childhood. His father strictly trained him to solve complex puzzles in his early years and his mother revealed that she helped him as a therapist. Between ages 6 and 13, he had violent mood swings that often got him into fights. He didn't get along with his classmates—at age 8, he beat one of his friends to the point of being hospitalized because Ashini was bullied for social isolation. "Fans and media reported that his musical preference is usually vicious, dark, and emotional," said Kathleen Chaykowski, a Forbes reporter.

Adolescent

When he turned 11, to ease the pain of lonesomeness, Ashini started to please himself with Monochrome painting. "He is a sensitive painter", Forbes declared. He was afraid of his parents, and his parents were worried about his future. In 2016, he was forcefully sent to a strict boarding school for developing his social skills (2016-2018).

Education

In 2018, Ashini attended college at the National Institute of Technology, Silchar. He discovered his interest in software and began programming at eighteen. During his second year in college in 2019, he was suspended momentarily because he ran into a conflict with one of the faculty members of the Institution. As seen in Forbes, besides being a troublemaker, Ashini was also considered obstinate—the stubbornness of escaping his parent's shadows made him pursue entrepreneurship during the initial days of COVID-19 lockdown.

Business career

"Ashini was involved in numerous horrendous incidents over the last few years, nevertheless, his reputation has been always protected—he belongs to a powerful family. Reports suggest that he is no stranger to bad press from threats to controversy and when asked in the interview, he revealed tiny details about his personal life." — Forbes, American business magazine

2020–2022: Early Venture

According to Crunchbase, in August 2020, Ashini took a massive loan capital of US$40,000 from his friends and family and went to Bangalore to build a network. As seen in Forbes, ALPHS originally began as a lifestyle project in January 2021. The project initially involved an unofficial "second founder", a friend of Ashini named Hrithik Hegde from Karnataka—the original lead programmer—who wrote much of the code for the original website of the company. Ashini didn't have any experience at the time, he cunningly invited Hegde by giving him high expectations that if the company were to grow then Hrithik would be the CEO—Hrithik was a data expert, he analyzed the trending data on luxury fashion, accordingly, he coded a branded website on a high-speed platform and installed an algorithm, which helped rapidly in their initial growth. The business model they were focusing on was Drop shipping at the time, Hrithik listed a few trending fitness products of prominent brands on their website and used affiliated links redirected to Alibaba Group. According to SimilarWeb, 33,580 organic traffic was received from Tier 1 countries in the first week of launching the website.

Ashini provided financial support initially—Forbes reported that he hired six attractive women (models) from Tier 1 countries and made a contract which clearly stated that if one were to involve then he/she would have to provide results in a thorough, efficient way and the order would remain in effect until canceled—when the initial agreement was completed, he paid each one of them a satisfactory amount (undisclosed) on March 24, 2021, cited by Abbie Cornish, one of the models from Australia—hence leading to the early stage of an unintended hazardous startup, ALPHS Inc.

August 2021: Settlement

"Ashini is an ENTJ (MBTI) personality type—these people are highly rational, excel at taking charge, and are not necessarily good with emotions—he tricked and betrayed his own friends to achieve his ambitions." — Cyrus Farivar, a Forbes journalist

Crunchbase declared that the original idea belonged to Hrithik Hegde—reports suggest that Ashini was afraid that he wouldn't be able to replace Hrithik as the owner of the company—accordingly, he used a fraction of his loan amount in hiring a reputed lawyer and falsely claimed that Hrithik was not committed. Hrithik, on the other hand, was helpless due to his weak financial situation but still involved his family members—a settlement was made on August 6, 2021, where Ashini had to pay Hrithik half his company's valuation at the time which rounded off to $13,000 and Hrithik was legally terminated from the company.

September 2021: Lawsuit

On September 9, 2021, Vivanta Bengaluru, a 5-star hotel in Whitefield, filed a lawsuit against Ashini Gogoi for a threatening conflict with a few fellas in the hotel foyer which resulted in breaking two classic glass-structured antiques representing historical significance, The Times of India reported. Ashini was fined US$6000 as a result of the lawsuit. Iqqanve, the present co-founder of ALPHS, cited in an interview, "I met Ashini for the first time during that incident," adding, "I felt intimidated as he was wearing a shiny black suit—I was sitting in the lobby along with my partner and we're watching the whole situation—I'd say it was not his fault as he never tolerates disrespect; if I were him, I'd have done the same." The hotel didn't report the detailed incident to the authorities as investigated by Mid-Day—Ashini hired a lawyer to compromise and/or end the litigation, but unfortunately, he had to pay US$4500 and a settlement was made. His parents reported that they came to know about the dispute the succeeding week—at the time his online presence was filled with adverse publicity and his parents hired an agency to take down his controversial presence to protect his reputation—they started investigating the loan capital but Ashini had an ulterior motive and a vision of building a brand which his parents despised—as reported by Forbes, he secretly opened an offshore account—with the help of his lawyer, he transferred the remaining loan capital and falsely declared that he lost the entire amount in gambling—he was then forcefully sent to his uncle in Himachal Pradesh in October 2021 to lessen the attention from media publications.

November 2021: Bankruptcy

Forbes declared that Ashini was oblivious and was losing serious money after Hrithik had left the company. As reported by Crunchbase, his company had negative cash flow at the time—besides he was operating with loans. On November 15, 2021, Ashini aggressively jeopardized the remaining loan capital ($15,000) by sponsoring prestigious events to build brand awareness. Still, all was in vain because Crunchbase declared that he lost the entire amount within a few weeks, and a negligible response was received from the marketplace. Consequently, his father, a strict individual, discovered his awful actions and put all his accounts on hold, hence leading to the gradual diminishing of his fancy lifestyle on social media.

2022–2023: Swindler rise of ALPHS

In mid-July 2022, Ashini started working at Meta Platforms, Inc., as a data scientist. As seen in Forbes, he was restless and wanted to end what he started, accordingly, he requested Iqqanve (an earlier connection of Ashini) to be the co-founder and that he would pay Iqqanve a portion of his salary every month until an investment would arrive. "I felt pity so I agreed and supported him," Iqqanve told Forbes, adding, "Above all, I believed in his work and admired his confidence."

On July 31, 2022, despite having a fallen business model, Ashini used his mathematical skills to create an artificial (fake) report and made three investors believe that his organization, ALPHS, would yield a fortune, thus raising $65,000 in the first seed round. In August 2022, after securing the investment, he understood that his prior business model would not work out, therefore, he immediately pivoted his idea and burned plenty of the investor's funds by testing different scenarios to find a profitable business solution. As seen in Crunchbase, it wasn't long before his organization was about to file for bankruptcy, but he subsequently saved it by delivering a winsome model, that showed promise to the investors. Crunchbase declared that he implemented a material named Cubic Zirconia, the cubic crystalline form of zirconium dioxide (ZrO2). As per the breakdown by a few trained gemologists, Ashini plated the raw sample with microscopic diamonds ranging from Si2-VVS1, resulting in the sample metal shining from all angles under every condition. This made their whole product unique and elegant, thereafter successfully meeting more customer demand.

Conflict with Meta Platforms

In November 2022, Ashini was terminated from Meta Platforms Inc., for violating the company's guidelines and policies. Meta also removed the legacy verification badge from his brand's Instagram account.

Meta revealed that Ashini utilized insider technology to catch the attention of prominent celebrities such as Wiz Khalifa and Cardi B in a way that was as if Meta was contacting them. In late October 2022, he spent $30,000 of his investor's money to do a few promotions of his organization's products through big stars, contacted through Meta, resulting in his brand recognition and a rapid boost in sales. Nevertheless, two weeks later, Meta laid him off after discovering it. "It's fair to say that everything he did was an act of an ambitious leader," says Stephanie Wissink, an equity analyst, adding, "We come by a few risk-takers like him today."

2023–present: Breakthrough

"Brilliant marketing, here is their secret—spent loads and loads of cash hiring the big stars which got the brand featured in major publications, and later they publicly announced the legendary act of taking down enormous articles written on them including Forbes, CNN, WSJ—it seemed they planned it already, quite a mystery and people values mystery, voila!" — Derek Saul, a Forbes reporter

Under Ashini's leadership, on February 9, 2023, his organization, ALPHS Inc., raised half a million dollars in seed funding from five investors including Y Combinator as the lead investor. All the materials used by the company was declared legitimate (diamonds) and was approved by Jewelers Vigilance Committee. The company officially moved its headquarters from Hyderabad to Milan in March 2023.

Year	Investments	Investors	Investors	Headquarters	Employees	Reference(s)
2021	US$15,000	N/A	N/A	Bangalore	1
2022	US$65,000	YCombinator	3	Hyderabad	8
2023	US$500,000	YCombinator	5	Milan, Italy	22

Controversies

Forbes cover

In December 2022, Forbes released a statement accusing Ashini of fabricating a higher price model—reportedly four times the retail value of their competitors—to increase the revenue figures for ALPHS—they were spending enormous funds over marketing by releasing short films as a campaign for manipulating people to buy their products which made them a drastic figure of US$300K overnight—an inappropriate pricing model, Forbes reported—each campaign consisted of their own production of explicit and emotional short films titled, "Inspired by the best-selling novels." The same day, Ashini responded in a series of Instagram posts by writing: "I thought this was a reputable site but all I see are a number of inaccurate statements. I can take down all the articles right now because honestly, it feels really annoying and not everyone enjoys the online presence." Ashini's attorney demanded that Forbes retract the statements, however, Forbes declared him a self-made CEO in February 2023. In March 2023, Ashini removed his controversial presence from notable publications which included Forbes, The Wall Street Journal, CNN, BBC News, and The Times of India.

Financial investigation

"ALPHS Inc., is one of the most secretive young companies in corporate history next to the giant, Rolex." — The Wall Street Journal (WSJ)

In March 2023, several financial analysts and a handful of law firms raised a few relentless questions concerning this organization's history of being shrouded in mystery and secrets, yet driving luxury sales in bulk. Reports suggest that Ashini took down several notable articles including Forbes, CNN, WSJ—his organization was under suspicion by April 2023. Newspaper articles in major publications went viral stating that despite being a fast-growing company, very little was known about the internal affairs of the company including how the company was managed, why its products were so expensive, how much money the company was making, or what was being done with that money. However, this organization took those articles down but eventually responded, "The answer seems fairly straightforward, our products are meticulously made and the scarcity of our products is not directly proportional to our pricing model—we maintain our values, period." It wasn't long before, a rigorous background check was done by officials, which publicized that they operate as an online retailer—certified by industry sources, plus those 2023 tax returns—Ashini's organization was worth $7 million as of 2023, Forbes estimated. A statistical survey showed that the majority of the Americans fall for their products due to their scarcity, quality, and expensive nature.

Personal life

Relationships

Ashini is very private particularly when it comes to his personal life.

Health

Ashini has said that he doesn't smoke or drink alcohol, as seen in the Forbes interview—he received defamation when it was reported that he was seen drinking heavily during the Sunburn festival in December 2022—accompanied by Iqqanve—who was the DJ for the night. Ashini's attorneys claimed that the articles were reporting false statements while trying to cause him libel damages—and forced took down those articles in March 2023.

Personality

Ashini Gogoi is an ENTJ (MBTI) personality type. Charismatic and confident, he is a natural leader according to Forbes—plus, he has a unique ability to reach his goals and possesses a rare intimidating skill, which is, he has a way with words. As an ENTJ personality type, Ashini is highly rational and excels at taking charge—these tendencies make ENTJ's natural leaders who are focused on efficiently solving problems and are not necessarily good with emotions, but that does not mean they are intentionally cruel.

Awards and recognition

Ashini Gogoi was a member of Forbes 30 Under 30 Asia list in February 2023, and Forbes declared that he is, indeed, a young yet enigmatic self-made CEO. He landed 9th on Forbes magazine's 2023 list and Forbes estimated Ashini's net worth at US$4.2 million, primarily from his ownership stake in ALPHS Inc.

Further reading

• History of ALPHS (company).

External links

• Ashini Gogoi at IMDb
• Ashini Gogoi on Instagram

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