BUSINESS
Exclusive: Zomato may not need CCI nod to merge Blinkit's India ops, will use 'De Minimis' exemption
Moneycontrol learns that Zomato may not need CCI's nod to acquire online grocer Blinkit. Both parties have already signed a preliminary term sheet, and the next step now is to sign a definitive agreement
BUSINESS
EXCLUSIVE | Trell exits AppsForBharat, sells 10% stake to Mirae Asset and MSANovo
AppsforBharat was founded by Prashant Sachan, one of the co-founders of Trell.
BUSINESS
Zoho's Sridhar Vembu, Zerodha's Nithin Kamath warn of tough times ahead for economy, startups
Zoho's Sridhar Vembu and Zerodha's Nithin Kamath, who run bootstrapped ventures, spoke to Moneycontrol on the 25th episode of the show, Moneycontrol Masterclass.
BUSINESS
MamaEarth awarded as the Young Turks Startup of the year at IBLA 2022
Mamaearth became the first unicorn of 2022 when its parent Honasa Consumer raised $52 million on January 1 in a round led by Sequoia, at a valuation of $1.2 billion
BUSINESS
Trell mulls sale of its stake in AppsForBharat
Trell was founded in 2016 by Pulkit Agrawal, Arun Lodhi, Prashant Sachan, and Bimal Kartheek Rebba. It is a community-based social network to discuss and exchange lifestyle trends.
INDIA
IPO-bound Oyo files request for exemption with SEBI amid delay in listing
The request is under process according to the posting on SEBI's website, which did not provide details on the type of exemption sought.
BUSINESS
Brother to the rescue: Ola to buy founder Bhavish Aggarwal brother's firm Avail Finance for $50 million
A share swap deal, the merger comes even as the SoftBank-backed firm, which was planning to list on the public market this year, now plans to raise a new round of funding at a lower valuation
BUSINESS
Oxyzo Financial Services raises $200 million Series A at a valuation of $1 billion, enters unicorn club
Kalra becomes one of the rare Indian female founders of a profitable fintech unicorn and, together with husband Asish Mohapatra, makes a rare couple behind the making of two unicorns
BUSINESS
SoftBank-backed Ola mulls down round amid delay in listing plans
Ola is paying interest on debt that it is yet to receive, due to delays in regulatory approvals.
BUSINESS
Exclusive | Groww in talks to raise $150 million at a valuation of $4-$5 billion
Groww is said to have received interest from sovereign wealth funds of Abu Dhabi and Qatar, besides the Canadian Pension Plan Investment Board (CPPIB).
STARTUP
Rs 2,000 in co-founder's home, no unaccounted cash, assets at any location: What Income Tax sleuths found after a 3-day raid on Infra.Market
The department is also learned to have conducted similar searches on the offices and residences of another B2B unicorn, Zetwerk, within a day of its searches at Infra.Market
BUSINESS
Pure aggression: Inside Gaurav Munjal and Unacademy’s quest for growth
Gaurav Munjal, the maverick founder of Unacademy, is building a company using unconventional methods. Moneycontrol profiles one of India's most important and divisive entrepreneurs with tons of never-before-reported details
BUSINESS
National Payments Corp prepares on-device wallet to debut UPI Lite for small offline transactions
UPI Lite for transactions up to Rs 200 will happen in two phases
BUSINESS
Paytm says SoftBank's Munish Varma steps down from board
The action is consistent with Softbank's move globally—it steps away from board positions after its portfolio companies get listed.
BUSINESS
Zomato to extend $150-million loan to cash-strapped Blinkit
Blinkit last raised $100 million from Zomato in a round which gave the company a unicorn status.
BUSINESS
Zomato, Blinkit sign deal for merger, to move CCI soon for approval
The development happens at a time when Blinkit has laid off employees, shuttered dark stores, and delayed some vendor payments, amid intense competition in the quick commerce space.
BUSINESS
Exclusive: SoftBank's Munish Varma to step down from Paytm and PB Fintech boards today
The move is in line with SoftBank's move globally to step away from board positions after its portfolio companies go public
BUSINESS
Short videos will be as large as WhatsApp in India, will start monetising Moj this year: ShareChat’s Ankush Sachdeva
ShareChat-owned short video platform Moj recently closed a deal to buy out and merge Times Internet-owned MX Takatak for about $600 million in a move to strengthen and consolidate its position in the market, amid growing competition from local and global rivals.
BUSINESS
Accel raises $650 million seventh India fund, broadens to Southeast Asia
Accel will also invest in Southeast Asia from this fund, in a first, at a time when a funding downturn is on the minds of most venture capitalists.
BUSINESS
Metaverse no longer a buzzword. Retail, shopping, gaming adapting very quickly: Infosys’ Ravi Kumar S
From Meta, formerly Facebook, and Microsoft, to gaming giants, everyone wants a slice of the rapidly evolving and growing Metaverse. Infosys, which counts clients in industries such as retail, banking, and financial services, among others, sees opportunities to redefine the way people shop, work, transact and learn.
BUSINESS
Infosys launches Metaverse Foundry, says has already developed 100 use cases
The move comes at a time when companies around the world are putting a huge focus on the metaverse. From Meta, formerly Facebook, and Microsoft, to IT services providers, the companies are investing significantly in the space.
BUSINESS
Every SaaS company will become a fintech: Chargebee co-founder and CEO Krish Subramanian
The Chargebee CEO says that while the war for talent is very real, it is also bringing many more people into the industry, particularly from IT services to software products.
BUSINESS
Not enough questions on startup culture being asked in boardrooms: InMobi’s Naveen Tewari
Building out the right culture is important because only that will help startups sustain tough times, navigate strategy and build better products. Founders must surround themselves with people who have built companies so that they can be guided well, says Tewari
BUSINESS
SoftBank-backed InMobi IPO in wait and watch mode amid market rout
It was reported in March last year that the provider of mobile ad services and India’s first unicorn was aiming for a US listing by the end of 2021
