Zerodha, India’s largest brokerage firm, has come up with a new feature 'Kill Switch', a new nudge on its Kite app.
Zerodha recently made headlines as the stock brokerage company gave itself a $1 billion valuation, without having ever gone out to raise money from investors. And now, the Hurun Global Unicorn List of 2020 values the startup at a whopping $3 billion.
Earlier in June, the startup announced that it had decided to buy back the company’s shares given to its employees at a price that took the valuation of the online broking firm to ₹7,000 crore, nearly $1 billion. Even then the founder Nitin Kamath had said that the valuation is ‘conservative’, comparable to a listed peer like ICICI Securities, and backed by the strong growth in revenue last year.
Zerodha is the new entrant in the Hurun list and ranks 108th rank in the global unicorn ranking
And even with the high valuation from Hurun, Zerodha remains modest.
“Valuation etc really matter only if you intend to sell a portion of your company, otherwise it is just a vanity metric which doesn’t really mean anything. That said it is good to know that someone values us as much,” Kamath told Business Insider.
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Mr. Askan Sheikh is Founder Director - Befree Co. Mangalore . He is an Indian Motivational Speaker who lives with a vision and purpose to help people across the world to ignite their inner powers and achieve results that matter.