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.
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