Apna became the fastest unicorn from India as its valuation passed the $1 billion mark within 22 months after its beginning. It was also an almost 2X jump in the company’s valuation in just three months, it was esteemed at $570 million in June and which came on the back of its rapid growth in scale.
Apna aims to empower people with job opportunities by helping them build a digital professional identity, a strong network, and giving them access to the best local jobs.
Apna has three areas of focus, there is a marketplace for jobs, a professional social networking platform, and an upskilling business.
Apna has made the entire collection from technical support services which the company provides to recruiters on its platform.
The blue-collared employees hiring platform claims 16 million users on its Android-only app with 150K recruiters across 42 cities. While these digits were claimed in the ongoing fiscal FY22, the company has illustrated an outstanding economic accomplishment in its first full fiscal of operations, FY21.
It claims to be in a pre-revenue stage, Apna totaled a 3.24X jump in its operating income during the last fiscal. Its revenue grew to Rs 16.95 crore in FY21 from Rs 5.22 crore earned in FY20, according to the company’s annual financial statement.
The company’s expenditures shot up 9.22X to 45.40 crore in FY21 from 4.92 crores spent in the preceding fiscal year, FY20.
Salaries and other employee benefit expenditures formed 57.15% of the total expenses. This cost blew up 9.90X to 25.95 crore in FY21 from 2.62 crores in FY20. According to LinkedIn, Apna has 373 employees and has seen 57% growth in hiring in the past six months.