Startup Zerodha Launches Mobile Application to Educate Users About Stock Market
By Sharad Singh
The roar of the stock market, fluctuations of the market, and the threat of losing stock investment: this is the picture that comes to mind when we think about stock trading and investments. However, the picture is bound to change as digitization has hit every sector in the world, including the stock market and most of the credit goes to rapid developments to launch novel mobile applications that help understand the uncertainty of the stock market.
From the apps that offer entertainment such as Instagram and Facebook to apps that offer education regarding the stock market, the mobile apps industry has evolved drastically in the last decade. However, with the growing need to understand how the stock market works, the mobile apps industry is now focused on launching novel applications that could become boon to stock investors and new market entrants.
Recently, the online stockbroking startup, Zerodha, launched its learning program name “Varsity” in a format of mobile application. The app is available in the app store for a limited audience and so far, it has more than 10,000 downloads. The Bengaluru-based Zerodha has decided to expand the education ecosystem around stock trading and investments. The CEO of Zerodha, Nithin Kamath, has confirmed the development of the app and stated that the company is aiming to attract millennials on to its platform.
Karthik Rangappa, the leader of the Varsity programme at Zerodha, stated, “In the coming six months, the company will primarily work on Varsity to make it better and more powerful than what it is now. As it targets the millennial crowd, we want to gather up to million users on the platform as soon as possible.” He added that despite the application is currently using English as a primary language, it will introduce other vernacular dialects soon, including Hindi and Gujarati.
At the start of this year, the startup had managed to be at the top position in terms of number of active traders on its platform. Kamath stated that although the rate of addition of new clients has decreased for the market, his platform still processes about 13% of the retail trades in the country. If you look at the number, the platform has added 40,000 clients in March and is projected to add 50,000 this month.
Apart from trading, the company has also invested in other offerings such as “Coin” that has about 200,000 users and Rs. 2,700 crore assets under management, which is now competing with well-established firms such as Paytm Money and ET Money.
The mobile applications have gained utmost importance in the last few years, owing to its simplicity and user-friendliness. As the mobile apps offer the required information with just a tap, they have become the basic need for anyone using portable devices including smartphones and tablets. According to Allied Market Research, the global market for mobile application accounted for $108.44 billion in 2016 and is expected to garner $311.25 by 2023.