Nykaa, founded by self-made billionaire Falguni Nayar, enters TIME100 most influential companies list

Nykaa has made it to the latest TIME100 most influential companies in the world.

New Delhi: Nykaa, the online commerce platform founded by investment banker Falguni Nayar, has made it to the latest TIME100 most influential companies in the world, months after the company made a blockbuster public debut. 

On its official website, TIME said that ten years after being founded by entrepreneur Falguni Nayar with the goal of inspiring Indian women, Nykaa has evolved into one of India’s largest cosmetics and lifestyle brands. 

“Nearly 10 million people shop there, and a November IPO raised $700 million at a $13 billion valuation—turning Nayar, the CEO, into India’s richest self-made businesswoman. Expansion and marketing led to a 23% drop in net profits in the nine months to December, but revenue grew 65% year-over-year to $376 million, the publication said. 

Nayar is the wealthiest Indian self-made woman billionaire. She is also the latest entrant in Hurun’s Global Rich List for 2022. Her personal wealth has soared manifold in the past few years, especially after the initial public offering (IPO) of the ecommerce platform in November 2021.

How TIME Selects the TIME100 Most Influential Companies of 2022? 

TIME features businesses that are reshaping our future in the TIME100 Most Influential Companies of 2022. The publication said that it solicits nominations across sectors including health care, entertainment, technology, and more. Also Read: OnePlus 10 Pro 5G with 6.7-inch QHD+ display launched in India: Price, specs

The nominations are shortlisted by its global network of editors and correspondents, as well as from industry experts. The step helps the publication in the list. "Then we evaluate each on key factors, including relevance, impact, innovation, leadership, ambition, and success. The result is a diverse array of 100 businesses helping chart an essential path forward," the publication added. Also Read: Veranda Learning IPO: Check latest subscription status, GMP, other details