Unicorn incipiency Darwinbox may go for IPO in coming 3yrs
HR tech company Darwinbox, which is valued at over USD 1 billion, may go for an original Public Offering (IPO) in the coming three years, its co-founder Rohit Chennamaneni said on Monday then. Speaking to media persons in a press conference, he said the megacity- grounded establishment is anticipated to achieve profitability by 2025 with Indian operations getting profitable by coming financial.
The promoters of Darwinbox presently hold further than 30 per cent stake in the company while the rest is held by investors, including TCV, Salesforce Ventures, Sequoia, Lightspeed and Endiya mates. “At this point of time the plan is to get to an IPO in the coming three times. That’s how we’re planning our expansion at this point of time. And when you look at the IPO as well, I suppose astronomically as a business, we want to be a global business serving enterprise across the world and contending with the likes of SAP Oracle and Workday,” he said.
This is the positioning in which we want to get an IPO, Chennamaneni refocused out. Declining to partake profit details, he said Darwinbox doesn’t have plans presently to raise any finances but constantly looks for some strategic investors.
With the USD 72 million fundraising in January this time, Darwinbox’s valuation crossed USD 1 billion therefore placing it in the club of unicorns. Chennamaneni said in terms of business, the establishment has strong presence in India followed by Southeast Asia — Singapore, Thailand, Indonesia, Philippines and Malaysia and the Middle East regions. Darwinbox lately launched its operations in the United States and will be launching in Japan, Australia and New Zealand, he further said.
The company has about 700 workers in Hyderabad and will add another 300 in the coming six months, he said. Darwinbox on Monday blazoned the induction of its global headquarters in Hyderabad. The new 1,000- seat point gauging 75,000 square bases will empower the brand’s harmonious business growth encyclopedically while enabling it to further tap into original gift.
About Darwinbox
We Believe in The Power Of People – People build The Next Big Thing. The New. The Never-Seen-Before. People push the boundaries of what is possible and imaginable and, empowering your people to become their best is the biggest competitive advantage your organization can build. It is this unshakeable belief that drives our passion to build Technology for your People – Technology that is unbelievably easy to use, is designed for any and every kind and is relentlessly innovating to evolve faster than change.
We Believe There is Always a Better Way – There’s always a better, sharper, faster, simpler way to do things. We question every assumption, cherish bright ideas and make new things happen.
We Think Like Our Customers & Act Like Their Partners – Our clients’ shoes are too big to fill, but we never learnt to walk without putting ourselves in them. Our endeavour is to empower our customers to engage more meaningfully with their colleagues across levels, and take more informed decisions.
We Never Learnt to Pass the Buck – Ownership for us is not just building the product – it is ensuring we are solving a problem, managing the change, helping the user drive results and seeing it through to the end.
We Value Reason Over Designation – Reason always trumps designation. We believe in crediting every valid point no matter how young the source may be. We value consistent high performance and expect everyone to be the best version of themselves.