Nithin Kamath, CEO and co-founder of Zerodha, announced that nearly 950 of the company’s 1100 employees would work from home permanently.
According to CEO and co-founder Nithin Kamath, over 950 of Zerodha’s 1100 employees will work from home on a regular basis.
Following the shutdown of numerous offices and businesses due to the epidemic, the company has transferred activities online. He had previously said that the corporation had begun putting up satellite offices in smaller towns in Karnataka for its workers who worked from home. “85-90 percent of our team is working from home, and we will continue to do so,” Kamath added. We have also opened an office in Belagavi (Karnataka).”
“We have a taken a call that we would do permanent work from home and people are enjoying living in their small towns. Belagavi has amazing talent and we have a large team working there. Folks are enjoying Belagavi as a city, are having maids and independent houses which they could never think of affording in Bengaluru,” he said
Zerodha is one of India’s most valued businesses and one of the few Indian unicorns that has not received any outside capital. Furthermore, it is profitable, and the founders — billionaire brothers Nithin and Nikhil Kamath – retain a large stake in the firm.
It was formed in August 2010 and is now India’s largest brokerage, with over 9 million clients accounting for more than 15% of retail trading volumes in the nation. Rainmatter, a fintech fund and incubator that has invested in businesses, is also administered by the company.
Zerodha startup story
Before starting Zerodha, the Co-Founder “Nithin Kamath” worked at a contact centre at night and traded in the morning. His friend introduced him to the stock market when he was 17, and he has been trading ever since.
Although he gained a lot of money trading stocks, he lost it all when the markets plummeted in 2001 and 2002. Over time, he received a check from a foreign HNI to manage his money. He eventually joined Reliance Money as a sub-broker and made a lot of money by bringing in significant clients.
Nonetheless, lost a considerable amount of money in the second market crash in the heart of the global financial crisis in 2008-09. After trading full-time for over ten years, this Maverick chose to become a broker because he felt the moment had come to give a distinct type of stockbroking service that he had never encountered throughout his ten years of trading.
When he originally considered creating Zerodha, he believed that digitalization and an online user-friendly platform were urgently needed. Nitin Kamath also remarked that the hefty brokerage costs placed on transactions are one of the reasons why the younger generation is hesitant to begin trading.
The name Zerodha comes from the Sanskrit word Rodha, which meaning Obstructions. Zerodha is a Sanskrit word that signifies “No Obstructions.” As a result, the creator wanted to provide a simple, low-fee trading platform. He sought for younger, more tech-savvy clientele to contribute to the capital market ecosystem.
