When the online brokerage platform was started, Zerodha was not advertised. The reason for this is that there was no money to add add. This has been said by Jirodha’s co-founder and CEO Nitin Kamat in a social media post. He explained how the lifespan went ahead without an ed. Zirodha is considered to be India’s largest stock brokerage firm in today’s time.
Nitin Kamat wrote in a post on X, when we started Zirodha online, we did not have the money to advertise. Nor was it certain that it would work. Therefore, our only way to move ahead was the propaganda and customer referrals. And this was the only way that we should present such products and services, that customers talk about them. ‘
Kamat said that we started our referral program in 2010 and since then, referral incentives have changed many times due to the rules. For example, due to a regulatory change in 2018/19, we were refused to give referral incentives.
A large number of accounts are connected to the referral
In the post, Jirodha Co-Founder further wrote, ‘Despite so many changes in incentives, a large number of accounts are connected through referrals. Today, we do not offer any incentives. Despite this, referrals have been more or less stable. This photo does not reflect a large part of indirect referrals, and the love of customers is a big force for us. ‘
Jirodha was started by Nitin Kamat and Nikhil Kamat in 2010. No external investor has money in his company. In his business partnership, Nikhil Kamat focuses on the stock market and investment. At the same time, Nitin handles products, brokerage and People’s operations.