Young Indian Unicorn-Apna reports Rs. 17 Crore Revenue in FY 21
- ByStartupStory | November 6, 2021
India’s youngest unicorn startup Apna has recorded total revenue of Rs. 16.95 crore in the fiscal year 2021 as against Rs. 5.22 crore in the fiscal year 2020 thus reflecting a 70% increase in the revenue earned.
Apna became a unicorn just 22 months after its inception thus naming itself India’s youngest unicorn. The market valuation of the company has doubled in just three months from $570 million to $1 billion. The company currently caters to 16 million users on its android app.
Founded in 2019 by Nirmit Parikh, Apna is a Mumbai based professional networking and jobs platform that helps blue and gray-collar workers find communities and bag jobs.
The financial reports of the young startup reveal a 3.24 time jump in operating revenue. Further, the company has reported an increase in the expenses from 4.92 crores in the previous year to 45.40 crore in FY21. A major contributor to the rise in expenses is the expansion of the workforce.
While the company has earned significant revenue just within months of its inception, the company is likely to incur losses in the company years due to its growth trajectory. However, the current growth pattern of Apna reflects a bright future for the startup.
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