As the Sensex and Nifty hit record highs earlier this week, popular investing application Zerodha faced multiple outages, as people were logged out of their accounts and were unable to track their investments.
The most recent outage experienced by users was on December 4, a day after the release of the Assembly Election results when the Indian market hit record highs.
Many users complained they were not able to log into their apps and track their investments.
Nithin Kamath, Zerodha co-founder and CEO, apologized to users
Zerodha users took to social media to express their discontent with the platform.
Zerodha CEO Nithin Kamath apologized to users in a letter, saying ‘In the business updates post I shared in August this year, I mentioned how we hadn’t had any large tech issues for a couple of years. Unfortunately, we have had two episodes in quick succession in the last two months, affecting between 5 and 20% of our active customers.’
Kamath further revealed that the platform experienced outages on November 6 and other on December 4. The outages were attributed to ‘edge cases’ with the ‘external dependencies’ of the platform.
Kamath said, ‘The issues on Nov 6th and Dec 4th were triggered due to edge cases with our external dependencies. This is no excuse, and I understand that, as a platform, we are responsible for all the issues you face. But I wanted to share with you what went wrong and what we are doing about it.’
Ending the letter with an apology, Kamath said that the company ‘continually works toward improving the user experience, and stability and reliability by the users is its top priority.’
‘We are working hard towards that in whatever way possible. We are extremely sorry for the inconvenience to those who were affected. If there have been any losses due to the incidents, create a ticket, and our team will try to get back to you as soon as possible with the best way to resolve them. Sorry again,’ he said.