Aditi Shrivastava
Aditi Shrivastava
Within two years, the digital hiring startup has brought millions of jobseekers and tens of thousands of recruiters on one platform. But its social communities, a key element of its broader strategy, are yet to see meaningful engagement. So, what makes it worth $1 billion?
February 23, 2022
11 Min Read“Network effects of Apna.” That’s the header of a slide the digital hiring startup has maintained on its deck from day one. It was there during last year’s $100-million funding round, which won Apna admission to the unicorn club.
The statement sums up its firm belief in a chain-reaction strategy for platform play and growth: blue-collar workers will use its app to find jobs and hopefully stick around to discover communities and connections.
The startup, founded by Stanford MBA grads Nirmit Parikh and Aryan Kenchin, is barely three years old, which makes its valuation of over $1 billion notable. Kenchin abruptly left a year into operations, selling his stake before the large funding rounds. More on that later.
Apna seeks to organise the fragmented and often unfair recruitment process for wage earners on the lower rungs of the economic ladder. Many funded startups, including Babajob and Aasaanjobs, attempted to tackle this problem, but folded or were acquired.
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