Nykaa founder is India’s richest self-made female billionaire
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Do you use the Nykaa website? This is a popular website in India where you can buy beauty and fashion products online. Nykaa was founded by businesswoman Falguni Nayar in 2012.
Yesterday, 10 November, Nykaa started trading on the National Stock Exchange of India. Here, the public can buy stocks (shares) of the company. And this has made Nayar a billionaire.
Nayar is now India’s wealthiest self-made female billionaire, according to the Bloomberg Billionaires Index. This index is a ranking of the world’s 500 richest people. “Self-made” here means she started the company on her own, and not inherited from family.
Nayar owns about half the company right now while investors own the rest. According to the Bloomberg Billionaires Index, her fortune is currently valued at US$12.9 billion.
Moreover, Nykaa is also the first unicorn startup headed by a woman in India.
What is a unicorn startup?
In business, a unicorn is a privately held startup company valued at over US$1 billion. Meanwhile, a startup is a company that starts small but expands business as it grows.
Falguni Nayar’s story
Nayar used to work at a top Indian investment bank but left that. And founded Nykaa in 2012 when she was around 50 years old. So, her story is an inspiration to many people who feel that they are too old to do something.
When Nykaa first started, the company was small but now it is the biggest beauty products seller online in India. The word nykaa comes from the Sanskrit word for “heroine”.
The NSE Bell has been rung in celebration of the FSN E-Commerce Ventures Limited (@MyNykaa) listing on the Exchange! #NSE #Listing #NYKAA pic.twitter.com/fkHWkrUDcI
— NSEIndia (@NSEIndia) November 10, 2021
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