Young Turks: 2019 LinkedIn Top Startups List — What makes them tick
The world's largest professional network, LinkedIn, has announced its 2019 Top Startups List for India. The list is created using proprietary LinkedIn data including employment growth, engagement, job interest and attraction of top talent.
It is a big day for startups. The world's largest professional network, LinkedIn, has announced its 2019 Top Startups List for India. The list is created using proprietary LinkedIn data including employment growth, engagement, job interest and attraction of top talent.
LinkedIn India found that the top 25 startups collectively created about 18,000 jobs in the last one year and they are expected to create more than 19,000 new jobs in the next year.
Topping the list is the world's third-largest and fastest-growing hotel chain, Oyo Hotels and Homes, founded by Ritesh Agarwal when he was 18. This unicorn is already India's largest hotel network with more than one lakh rooms in 230 cities. CureFit, the Bengaluru-based wellness start-up, is number 2. It has hit the $100 million mark in annual revenues within just 3 years of inception. The top three are rounded up by networking platform for professionals, TapChief. This Bengaluru-based company backed by PayTM's Vijay Shekhar Sharma connects individuals and businesses with domain experts or 'solopreneurs'.
Oyo has retained its top spot, backed by expansion of operations into 80 countries. The firm is also foraying into the co-working space while simultaneously looking to expand its footprint across the US and Europe to become the world's third largest hospitality chain.
Speaking to CNBC-TV18, Gazal Kalra, co-founder of Rivigo, Harshil Mathur, co-founder and CEO of Razorpay and Anil Giriraju, co-founder of Bounce, shared their views and outlook on startups in India.
“The economic environment is tough right now, but we are not as much impacted as many others,” said Kalra.
Razorpay powers a lot of technology companies in the country on the payment side. "In the last couple of months, even though there have been talks of slowdown in the public space, in the private companies that we power, we haven’t seen any business coming down. In fact, business has been growing much more rapidly than usual,” said Mathur.
“A lot of companies are getting funded, there is no significant dearth of capital on the private side primarily because as long as your company is growing and scaling well, there is a significant amount of private capital, there are a lot of funds moving away from the US and China and coming to India right now,” he added.
According to Giriraju , the impact of slowdown is industry-specific. “We have been growing, we did really well in terms of numbers in the last two months. We cracked about 80,000 rides a few weeks back. So the business hasn’t impacted as much as other sectors,” he noted.
First Published: Sept 4, 2019 9:26 PM IST
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