In India, Frugal Tech 'Camels' Outpace Unicorns in Profitable Growth
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Forget unicorns. To thrive in India's market you need a camel - that is, a practical, profitable tech firm like Zerodha or Zoho.
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Indian "unicorns" pursuing growth over profits are struggling - 63 of 83 lost over $8bn in 2022.
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Frugal tech camels like Zerodha and Zoho focus on revenue and capital efficiency, not growth at all costs.
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These firms charge for services, avoid outside funding, keep costs low with open source tools and cheap talent.
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This slower approach may better suit India's long runway to profitability versus the Silicon Valley blitzscaling model.