Fat remuneration cheques are on the way for Zerodha founding brothers Nithin and Nikhil Kamath and director Seema Patil Kamath. Nithin Kamath claimed that being a bootstrapped unicorn, the only way to encash their glaring success was via increasing their salaries. With the revised salary structures, the Kamaths will be placed amongst the highly paid executives in Indian corporates. What are your thoughts on this? Let us know in the comments below.
Crux of the Matter
Seema Patil, the newly appointed whole-time director and Nithin Kamath’s wife, will also be paid up to ₹100 cr. The entire Kamath family will be taking a lump sum amount up to ₹300 cr, making them the highest paid co founders and directors amongst Indian startups.
- Zerodha’s revenue for FY ‘20 scaled to a whopping ₹1000 cr, while its profits for the same period stood at ₹442 cr.
- Currently, Zerodha hosts 5 million users on its platform and manages 15% of India’s total trade volume.
- It is India’s only profitable bootstrapped unicorn that never raised external funds. The only way for founders to encash their success is via salaries/dividends.
- Moreover, Zerodha will buy back ESOPs worth $25 million at a valuation of $2 billion.
Salary Of Other Indian Startup Founders
- The name Zerodha is a combination of the words ‘Zero’ and ‘Rodha’. ‘Rodha’ is a Sanskrit word for barrier, so Zerodha means Zero Barriers.