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Tuesday, December 5, 2023
HomeUncategorizedIndian startups with valuation of over $1 bn on hiring spree

Indian startups with valuation of over $1 bn on hiring spree

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Indian startups AVThe top Indian startups with valuation of over $1 billion each are on a hiring spree and more than half of all job postings by these unicorns are for fresh graduates, says a report.

According to recent data from global job site Indeed, four unicorns – Snapdeal, PayTM, ShopClues and Flipkart – make up around 90 percent of all job postings.

A unicorn is a startup company valued at more than a billion dollars, typically in the software or technology sector.

“Indeed’s latest study reveals that more than half (57 per cent) of all job postings by unicorns are for fresh graduates. This is encouraging for millions of young freshers who are looking to jumpstart their careers with young companies, and being a part of the exciting start up ecosystem,” Indeed India Managing Director Sashi Kumar said.

With the Indian e-commerce market expected to grow at 30 per cent a year, and attain a valuation worth USD 200 billion by 2026, companies such as Snapdeal, ShopClues and Flipkart are experiencing a boom in business, it said.

Moreover, digital service providers like PayTM and Zomato too are thriving, given the government’s demonetisation drive and push for cashless transactions and the widespread penetration of mobile literacy.

Kumar further said “our earlier study on job flexibility also indicates a trend towards contractual hiring in these firms, which reaffirms the growing affinity among today’s new-age job seekers, who look at striking a balance in work- life integration”.

Snapdeal topped the chart in terms of percentage of total job postings at 53 percent, followed by PayTM at 23 per cent, ShopClues (11 percent), Flipkart (4 percent), Zomato (4 percent), Ola Cabs (3 percent) and InMobi (2 percent) among others.

While the top four firms in terms of hiring together make up over 90 percent of all jobs posted, the region that saw maximum number of postings from these companies is Delhi NCR, with an overwhelming majority of 83 percent.

The study included an analysis of job postings from Flipkart, Hike Messenger, InMobi, Mu Sigma, Ola Cabs, PayTM, ShopClues, Snapdeal, RenewPower and Zomato, which were identified as the top Indian startups valued at over USD 1 billion.

All job queries posted within the timeframe of October 31, 2016 to October 31, 2017 were considered for this study.

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