Online astrology platforms are seeing a boom! Why young professionals, startup founders are seeking career guidance india business news
Rise of Online Astrology Platforms: young professional And startup founder Guidance is increasingly being sought in India Astrologers To deal with the challenges of your career. With salary cuts, career stagnation and prospects retrenchmentThis person is turning Online Astrology Platform To gain information about their future prospects.
something online Astrology Forum told ET that he has noticed that more young professionals and startup founders are seeking mentorship recently. They’re curious about their future prospects, asking about things like Salary increment, job promotion, career advancement, and even considering a job change. Startup founders are also interested in how their fundraising efforts will succeed and what the dynamics will be like with their co-founders.
One such astrology platform, GaneshaSpeaks, reported a 58% year-on-year growth in revenue last financial year. Founder Hemang Arunbhai Pandit said that in recent years, his astrology platform has experienced a tenfold increase in consultations by young professionals and entrepreneurs, primarily in the age group of 23 to 35, on career and business matters. Want guidance.
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Pandit mentioned that their live chat business with astrologers grew by 58% from FY20-21 to FY22-23 and 70% from FY19-20 to FY22-23.
Nearly one-third of the consultations on platforms like Astrotalk and Astroyogi focus on topics like performance appraisal, salary hikes and concerns about losing one’s job.
AstroTalk received $20 million in Series A funding from New York-based venture capital firm Left Lane Capital, leading to significant revenue growth from Rs 65 crore in FY2011 to Rs 282 crore in FY2013. Similarly, net profit increased from Rs 11.2 crore to Rs 27 crore during the same period. Furthermore, its user base grew from 2.5 million in FY2011 to 19 million in FY2014.
AstroTalk Founder, Punit Gupta noted a large number of queries regarding layoffs, salary hikes, possible job changes and similar topics.
As demand is increasing and user base is expanding, astrology and spiritual technology platforms are experiencing rapid business growth.
AstroTalk’s Gupta estimated revenue growth at Rs 630 crore and net profit growth at Rs 130 crore for FY24. Astrotalk plans to achieve this through strategic acquisitions to expand into international markets, establish new business verticals and recruit key leadership positions.
Aditya Kapoor, COO of AstroYogi, also reported a ten-fold increase in the user base compared to the pre-pandemic period. In cities with high social media usage, 60% of online astrology users are from Gen Z, while non-Gen Z users make up the remaining 40%.
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Experts say youth in both metropolitan areas and small towns are looking for answers amid growing stress and uncertainty in the external business environment.
Major cities like Delhi, Mumbai, Bengaluru, Lucknow, Jaipur, Chandigarh and Ludhiana contribute significantly to user traffic on these platforms.
Consultations are offered at different price points, ranging from Rs 10 per minute to Rs 200 per minute, depending on the astrologer’s expertise. Interestingly, many of these astrologers are not only qualified in astrology, but also have a background in fields like engineering and chartered accountancy.
While astrologers use planetary positions to predict the career paths of young individuals and the fortunes of entrepreneurs, describing their practice as a blend of mathematics and statistics, some critics remain skeptical about its scientific basis.
Avinash Patil, president of Maharashtra Andhashraddha Nirmoolan Samiti, was quoted as saying, “Due to the increasing uncertainty, insecurity and anxiety all around, many people of the younger generation are turning to astrology and spirituality for answers, but rational analysis says that There is no scientific basis. ,
something online Astrology Forum told ET that he has noticed that more young professionals and startup founders are seeking mentorship recently. They’re curious about their future prospects, asking about things like Salary increment, job promotion, career advancement, and even considering a job change. Startup founders are also interested in how their fundraising efforts will succeed and what the dynamics will be like with their co-founders.
One such astrology platform, GaneshaSpeaks, reported a 58% year-on-year growth in revenue last financial year. Founder Hemang Arunbhai Pandit said that in recent years, his astrology platform has experienced a tenfold increase in consultations by young professionals and entrepreneurs, primarily in the age group of 23 to 35, on career and business matters. Want guidance.
Read this also Salaries 20-30% higher than industry standards! Why is Paytm wary of hiring talent from rival embattled fintech firms?
Pandit mentioned that their live chat business with astrologers grew by 58% from FY20-21 to FY22-23 and 70% from FY19-20 to FY22-23.
Nearly one-third of the consultations on platforms like Astrotalk and Astroyogi focus on topics like performance appraisal, salary hikes and concerns about losing one’s job.
AstroTalk received $20 million in Series A funding from New York-based venture capital firm Left Lane Capital, leading to significant revenue growth from Rs 65 crore in FY2011 to Rs 282 crore in FY2013. Similarly, net profit increased from Rs 11.2 crore to Rs 27 crore during the same period. Furthermore, its user base grew from 2.5 million in FY2011 to 19 million in FY2014.
AstroTalk Founder, Punit Gupta noted a large number of queries regarding layoffs, salary hikes, possible job changes and similar topics.
As demand is increasing and user base is expanding, astrology and spiritual technology platforms are experiencing rapid business growth.
AstroTalk’s Gupta estimated revenue growth at Rs 630 crore and net profit growth at Rs 130 crore for FY24. Astrotalk plans to achieve this through strategic acquisitions to expand into international markets, establish new business verticals and recruit key leadership positions.
Aditya Kapoor, COO of AstroYogi, also reported a ten-fold increase in the user base compared to the pre-pandemic period. In cities with high social media usage, 60% of online astrology users are from Gen Z, while non-Gen Z users make up the remaining 40%.
Read this also Byju’s founder and CEO’s troubles increase! ED wants lookout circular against Byju Raveendran, report says
Experts say youth in both metropolitan areas and small towns are looking for answers amid growing stress and uncertainty in the external business environment.
Major cities like Delhi, Mumbai, Bengaluru, Lucknow, Jaipur, Chandigarh and Ludhiana contribute significantly to user traffic on these platforms.
Consultations are offered at different price points, ranging from Rs 10 per minute to Rs 200 per minute, depending on the astrologer’s expertise. Interestingly, many of these astrologers are not only qualified in astrology, but also have a background in fields like engineering and chartered accountancy.
While astrologers use planetary positions to predict the career paths of young individuals and the fortunes of entrepreneurs, describing their practice as a blend of mathematics and statistics, some critics remain skeptical about its scientific basis.
Avinash Patil, president of Maharashtra Andhashraddha Nirmoolan Samiti, was quoted as saying, “Due to the increasing uncertainty, insecurity and anxiety all around, many people of the younger generation are turning to astrology and spirituality for answers, but rational analysis says that There is no scientific basis. ,
