In the latest episode of TechThisWeek, Zerodha co-founder and CEO Nithin Kamath talks about what may have driven the birth of six unicorns this week-- Pharmeasy, Meesho, Cred, Mohalla Tech, Gupshup, and Groww.
“Raising funding just incrementally improves the odds of the succeeding just a tiny bit of amount. And raising funds alone isn't equal to raising a successful and sustainable business... I think one of the main reasons for all of this happening is the excess liquidity in the entire ecosystem around the world... I think what people have to remember is that this is not going to last forever, and eventually, you'll have to build a business that's sustainable,” Kamath said.
Bootstrapped, debt-free and profitable Zerodha turned unicorn in 2020, after 10 years since founding of the Bengaluru-based online brokerage business. Kamath also founded Rainmatter, a fintech focused fintech fund and startup incubator.
Separately, TechCircle reporter Debangana Ghosh joins in to clear the air around the social media faux pas that was an alleged bankruptcy at budget hotels aggregator OYO.
Catch up with all the big technology and startup news from the week.