As India’s tech sector continues to boom, one company is seeing its profits soar.
The San Francisco-based startup Thesaurus has seen a sharp rise in its annual revenues, as the country’s tech industry has exploded in the past decade.
Its annual revenue in 2020 was Rs. 5,000 crore, and in 2021 it is expected to hit $3 billion, the company said.
The company had reported revenues of $1.5 billion in 2017.
Thesaurus is a social media analytics company that has a product that helps companies find out who is using their services.
In 2017, the startup had launched its app, which helps them analyse their users’ behaviour, which is then used to target advertisers.CEO and cofounder Ravi Narayanan said that while the growth in revenue and revenue per user (rur) are the key metrics, revenue and profit are also important metrics.
“For instance, in a market where there is only one or two platforms, if you can get 100 million users in a month, you are not going to make any money, and if you have 50 million users, you can make more money,” he said.
According to Narayanant, if there are two platforms with 500 million users and two platforms that have a combined 1.2 billion users, it is unlikely that one of them is going to be successful, and therefore, Thesauruses growth is a sign that more platforms are on the way.
“There are three or four platforms, and they are not doing well.
They are all the same.
They all are trying to get 100 crore users in six months.
If you have a platform that has 50 million, you cannot get 100 millions users,” he added.