Darwinbox plans IPO in next 3 years, says co-founder Rohit Chennamaneni

Market


Hyderabad: HR tech company Darwinbox,may go for an Initial Public Offering (IPO) in the next three years, its co-founder Rohit Chennamaneni said today. Speaking during the virtual media meet, he said the firm is expected to achieve profitability by 2025 with Indian operations becoming profitable by next fiscal. 

That’s how we are planning our expansion at this point of time. And when you look at the IPO as well, I think broadly as a business, we want to be a global business serving enterprise across the world and competing with the likes of SAP Oracle and Workday,” Co-founder Rohit Chennamaneni said.

The promoters of Darwinbox currently hold more than 30 per cent stake in the company while the rest is held by investors, including TCV, Salesforce Ventures, Sequoia, Lightspeed and Endiya Partners. “At this point of time the plan is to get to an IPO in the next three years. 

In January this year, Darwinbox’s valuation crossed USD 1 billion thus placing it in the club of unicorns. 

The HR tech firm also announced the inauguration of its global headquarters in Hyderabad. The new 1,000-seat site spanning 75,000 square feet will empower the brand’s consistent business growth globally while enabling it to further tap into local talent.

-With agency inputs

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