BUSINESS
Exclusive | Getting ready for IPO, but no timeline yet: Pine Labs CEO Amrish Rau
Pine Labs that is backed by Mastercard, Sequoia, Actis Capital, PayPal and Temasek, has been in touch with law firms, auditors and bankers for a year but it is not yet in a position to say when it would go for the IPO.
BUSINESS
Groww raises $83 million at a valuation of over $1 billion, enters unicorn club
India has seen eight unicorns in the first four months of 2021, compared to 11 in 2020; accelerated digitisation during pandemic has triggered rapid growth in this space.
BUSINESS
PharmEasy parent API Holdings raises $350 million at $1.5 billion valuation, enters unicorn club
API Holdings is the third startup to join the billion-dollar club this week after Meesho and CRED.
BUSINESS
Cred turns unicorn, raises $215 million at a valuation of $2.2 billion
The company, which bought back employee stock options worth $1.2 million during its Series C round of funding, has announced an ESOP buyback worth $5 million with the current round.
BUSINESS
Exclusive | Meesho CEO Vidit Aatrey: Will focus only on India for next few years
The social commerce firm wants to focus only on India- a change in strategy- and enable 100 million small businesses to come online. The Facebook-backed startup also wants to be platform agnostic and be wherever the user goes, not just WhatsApp or Instagram,
BUSINESS
Meesho raises $300 million led by SoftBank, enters unicorn club
Meesho, the Bengaluru-based social commerce startup, helps small businesses and individuals become sellers on social platforms such as WhatsApp, Facebook and Instagram.
BUSINESS
Moneycontrol on Clubhouse: Future of Digital Payments in India
With over 200 million active digital payment users of in India, UPI transactions crossed 5 lakh crore in value for the month of March 2021.
BUSINESS
UPI transactions touch new high, cross Rs 5 lakh crore in March
UPI, which has been clocking over two billion transactions a month since late in 2020, has ambitions of touching two billion transactions a day in the next few years.
BUSINESS
Exclusive | Chinese investors, angels eye exit from Cred in secondary share sale
After social media app Koo and fintech firm Krazybee, Chinese investors in Kunal Shah-led Cred are selling their entire stake
BUSINESS
Wipro hires former PayPal, Walmart executive Subha Tatavarti as chief technology officer
US-based Subha Tatavarti worked at PayPal for nearly a decade before moving on to Walmart in 2020
BUSINESS
Level 1, Level 2, Level 3: How NPCI plans to cap market share of apps like PhonePe and Google Pay
The move is aimed at providing an opportunity for multiple players and mitigate systemic risks that could arise out of a few dominating the space.
BUSINESS
SEBI clarifies on definition of startup, eases norms for AIFs
The market regulator has also allowed AIFs to simultaneously invest in units of other AIFs and directly in the securities of investee companies subject to certain conditions.
BUSINESS
SEBI eases norms for public listing of startups
The revised norms will also provide early-stage startup investors an easier route to exit.
BUSINESS
Bharat Biotech to expand manufacturing capacity to meet Covaxin demand: Report
Currently, the company is producing 40 lakh doses of Covaxin per month at its Hyderabad plant.
BUSINESS
Metapurse's Twobadour Paanar opens up on why they bought Beeple for $69 Million
India has a large bunch of blockchain developers, this is an opportunity to stay ahead of the curve, and spark an environment of entrepreneurship out of India, says crypto entrepreneur duo Vignesh Sundaresan and Anand Venkateswaran
BUSINESS
Exclusive | Accelerate with caution, do not fall into bad habits of the past: Sequoia India’s GV Ravishankar
Sequoia India’s GV Ravishankar, one of India’s most successful investors, says founders should not fall into bad habits of the past due to easy access of capital. He has also said it is a very difficult environment for founders and investors, as one is not able to understand what all the funding interest means.
BUSINESS
I got my vaccination certificate digitally. My friend in Seattle got it on a piece of paper: Nandan Nilekani
Talking about his journey from a software czar to a technocrat who played a central role in building India's digital rails, Nilekani said the most crucial trait a technocrat needs to have is the ability to build consensus.
BUSINESS
Indians should be allowed to have crypto as an asset class: Nandan Nilekani
Nilekani's stance is significant, as he is one of India's most prominent technocrats and has played a central role in building India's digital rails- be it Aadhaar, the UPI payment infrastructure, GST or FASTag.
BUSINESS
Indian investors give Govt's move to widen capital pool a thumbs up
The Finance Ministry, in a circular on March 17th, 2021, allowed privately managed provident, superannuation, and gratuity funds to invest up to 5 percent of their corpus in alternative investment funds (AIFs) such as SME funds, venture capital funds, social venture capital funds, and infrastructure funds.
BUSINESS
Valli Arunachalam moves waiver application to sue Murugappa Group
Valli Arunachalam's family owns 8.21 percent in Ambadi Investments, thus falling short of the minimum requirement by 1.79 percent.
BUSINESS
Women's Day 2021: Three female gig economy workers on what their jobs mean for them
This Women's Day, Moneycontrol brings you the story of three women who braved the odds and are part of the gig economy today:
TRENDS
Interview | Byju's Co-Founder Divya Gokulnath on global listing plans, work-life balance, future of teaching, and more
The co-founder of the $12 billion edtech behemoth tells Moneycontrol all about her plans to take her company global, how she deals with criticism and why she thinks the golden age of teachers is coming back.
BUSINESS
Wipro started as an oil mill 75 years ago. Today it bought a UK consulting firm for $1.45 billion
While analysts and industry watchers concurred that it was a bold move, they also expressed concern because integrating a consulting firm is not easy, simply because the culture and cost structure are completely different.
BUSINESS
PhonePe & Paytm lock horns: Both claim market leadership
Paytm is yet to put out a breakup of its numbers for February, so it’s hard to tell who really was No. 1 last month with both claiming to have recorded over a billion transactions.
