Apna: A Billion-Dollar Startup Unicorn Within Two Years

Article Image referred from startupfortune.com

Apna (named after the rap song Apna Time Aayega from India’s Oscars submission Gully Boy) is a billion-dollar startup based in Bengaluru, launched in 2019 by former Apple executive Nirmit Parikh. This startup is still in its early stages and is yet to generate any income. 

Image referred from @timesofindia

However, this has not deterred Indian and foreign investors from placing large stakes. Several VCs have supported this business, from Insight Partners and Owl Ventures to Sequoia Capital India and Lightspeed India partners.

Apna became a startup unicorn on September 15 after raising $100 million in Series C investment led by Tiger Global for a total valuation of $1.1 billion. It is also one of the quickest times an Indian firm has become a unicorn. It is currently focusing on three areas. There is a job marketplace, a professional social networking platform, and an upskilling business, all of which Parikh says will be stand-alone multibillion-dollar businesses.

Image referred from techcrunch.com

Target Market for Apna

Hundreds of millions of low-skilled laborers migrate from rural areas in quest of jobs in Indian cities. Due to the coronavirus pandemic, which has halted numerous economic operations in the South Asian countries, many from amongst them have lost their employment. This startup unicorn has created a platform that provides communities for trained workers such as carpenters, painters, sales agents, among others – giving them a sense of belonging. 

With the help of Apna, a job seeker may search for open positions and connect with other job seekers. They interact with one another in the community, exchanging notes on how to perform better in interviews and suggestions on how to negotiate a higher salary. 

In the last 15 months, the platform claims to have grown around 125 times. Zomato, Urban Company, Byju’s, PhonePe, Delhivery, Burger King, and Teamlease are among the companies that claim to have 16 million users and 1.5 lakh recruiters on their platform. Every month, it promises to conduct 18 million interviews.

@FinSpaceIndia

Competition Faced in the Market.

Apna. Any of the significant HR sites do not generally look at the market Apna is targeting. It is solely dedicated to the blue and grey collar employees, offering job possibilities depending on their qualifications. Co would staff delivery guys for a company like Zomato-while Naukri would handle a company’s demand for IT or financial specialists. 

As a result, the interests of these companies do not overlap, and thus there is no competition. On the other hand, Zippia, Multi Recruit, Top Hire, and Just Jobs are a few companies from which Apna faces direct competition.

Conclusion

The billion-dollar startup, Apna, is on a social mission dedicated to discovering and creating possibilities that will improve people’s lives worldwide. The business has begun to monetize the platform and is gearing up for a rapid expansion. It will continue to expand in India, according to Parikh, and plans for worldwide growth early next year.

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