Leaving a lucrative job to embark on one’s own entrepreneurial journey is no easy decision. However, Ravi Kumar didn’t hesitate. The young businessman left a high-paying job to start his own business, and became the co-founder of a company, with Ratan Tata as an investor…
Meet Upstox co-founder Ravi Kumar
Ravi Kumar is the co-founder of Upstox along with his brother Raghu Kumar, Kavitha Subramanian and Shrini Viswanath. Upstox is one of India’s fastest-growing investment platforms, valued at Rs 30,000 crore, according to DNA India. The discount broking company broke even in FY 22-23 with its overall revenue crossing Rs 1,000 crore, according to Economic Times. Ravi is responsible for overseeing key business decisions and driving corporate strategy at Upstox.
Ravi Kumar’s educational qualifications and US job stint
Ravi Kumar, who was brought up in the US, started trading at the young age of 16. He holds a Bachelor’s Degree in Computer Science from the University of California, Irvine (UCI), USA. He had a short stint at TD Ameritrade’s flagship Thinkorswim trading platform, which was a high-paying job.
After quitting his job, Ravi and his brother Raghu started a business of their own; an automated proprietary trading desk in Chicago. The brothers swiftly transformed their company into a million-dollar firm in just three years. However, a recession struck the US in 2008 and the market crash forced the siblings to move to India. In 2009, Upstox was launched.
Ratan Tata’s investment & IPL sponsorship elevated Upstox’s success
Upstox, which became a unicorn in 2016, caught Ratan Tata’s attention. The Chairman Emeritus of Tata Group came on board as an investor at Upstox in the same year. As of January 2020, Ratan Tata holds a 1.33% stake in the investment company.
Under Ravi Kumar’s leadership, Upstox is currently the second-largest stock brokerage firm in India and has more than 1.3 crore customers on its app. According to The Hindu Business Line, Upstox plans to launch an IPO (initial public offering) in the next 2-3 years. The company recently made headlines for announcing its entry into the insurance distribution business with the goal of simplifying wealth management in India.
Another factor for Upstox’s profitable growth can be attributed to their sponsor partnership with IPL, over the years. In an interview with Business Today, Ravi Kumar shared how his company benefited from their collaboration with IPL: “The goal of Upstox is to enable hundreds of millions of Indians to reap the benefits of India’s remarkable economic expansion. This is why we have invested in prominent global platforms like the IPL and the ICC. The partnership with IPL has helped us boost brand recognition and loyalty, contributing to over 30 per cent revenue growth in FY23 compared to FY22.”
