Jobaaj Stories
Do you trade in stocks as well?
Today, different alternatives in front of us help us in trading stocks and marking insights. To name a few, they are Zerodha, 5Paise, Groww, AngelOne, ICICI securities, and Upstox. In this article, we will focus on one such application which is, Upstox. In the past few months, we have seen various changes and exits in leadership roles across many companies. Upstox, on the other hand, had more exits. Let’s have some insights about the company’s past performances, be it in the Market share or Company’s goals.
(Please be informed that the below-mentioned data is based on some other sources of research structured to provide details only.)
More on Upstox
Upstox is an online trading platform that provides services to expert traders, part-time traders, and long-term investors to help them with portfolios. Established in 2011, Upstox was founded by Shrini Viswanath, Ravi Kumar, and Kavitha Subramanian. In past years, Upstox gained a lot of popularity because of its HTML based trading-solutions for investors.
Recent Trends in Upstox
As per a report by Entrackr, Upstox's revenue grew by about 77.4% in Financial Year 2022 which was higher than FY21. Still considering Zerodha as a main rival, the firm bleeds immensely for market share and scale.
Many top tech executives in Upstox have exited from the company now. There was even news about Data Breaches leading to many requests for increased safety measures. As per an article, recently posted by Your Story, company executives had different reasons for leaving the organization. Recently, Many Top Hires constituting Senior Vice President-Finance, CTO exited the company.
Ratan Tata and Tiger Global have invested in Upstox. The Company aggressively hired some top management with different plans. Later, made significant changes in both its business approach and hopes to grow in the United States.
Due to these shifts, Many Top hires got some of their priorities challenged. As per some sources, Upstox's competitors are rapidly increasing in terms of market share, the company itself has been worried about some major exits. This mainly happened due to some changes in priorities on the part of the company. There was some disapproval on the former tech team’s end as well.
In the same article released by YourStory, some former top recruits mentioned their enthusiasm before joining and later having disagreements with the company’s management.
As per the statistics, the target customers decided for 2022 were not achieved and stood very low than the target. Even the employee number stood very low. Dyamappa, a former executive told the respective news team.
Without any management at the top, Now, Upstox seems to be under the guidance of its founders.
Further, Upstox has been an IPL sponsor since 2021, and it has benefitted Upstox much in its transformation compared to some past years. The partnership is known to be Multi-year.
Also, Read, These E-commerce are additions to the layoff chronicles
