BUSINESS
Why Toppr had to sell to Byju’s — the inside story
Toppr was growing, but not quickly enough; it had revenues but they were not large enough. And it has never been profitable. Given this it had to either keep raising money or get taken over. This is the story of how Toppr was gobbled up by Byju’s, pieced together by weaving disparate strands from investors, competitors, people inside the two companies, and others.
BUSINESS
Exclusive | Bounce lays off 80% employees, including senior leaders
Bounce now has 70 employees remaining to run a business that was last valued at $450 million. At its peak, the company had 600 people on its rolls.
BUSINESS
The new internet, social media rules: All the key things you need to know
Now on, Netflix, Amazon Prime and other OTT platforms will have to classify all content suitable for viewing by age -- U (Universal), U/A (above 7), U/A (13+), U/A (16+) and A for Adults.
BUSINESS
Infra.market turns unicorn, raises $100 million led by Tiger Global
Its other investors including Accel Partners, Nexus Venture Partners and Sistema Asia Fund invested as well.
BUSINESS
Innovaccer turns unicorn, valued at $1.3 billion after Tiger funding
The deal also makes Innovaccer India’s fifth SaaS unicorn after Freshworks, Druva, Icertis, Postman, and most recently, Zenoti.
BUSINESS
Why Indian SaaS startups are stealing the show, why they matter and what next, explained
They hold much promise and are profitable, but enterprise startups tend to remain out of the spotlight, unlike their better-known consumer internet counterparts such as Flipkart, Uber and Swiggy. Moneycontrol decodes what SaaS companies do, why they are different, and what all the hype is about.
BUSINESS
Exclusive: SaaS firm Chargebee guns for unicorn status with $1.4 billion valuation in fundraise
The fundraising round will likely be led by a fresh US-based investor, with existing backers Tiger Global Management, Steadview Capital and Insight Partners doubling down on their bets.
BUSINESS
Crypto industry agrees to be regulated, but government needs to engage actively
While talks of a bitcoin ban have been swirling around, experts stressed that regulation is far more important and welcome, and everyone would lose from a bitcoin ban.
BUSINESS
Despite pandemic, startups choose growth over profit
Temasek-owned InnoVen Capital's annual report says that about 77 percent of startups consider growth a focus area over profitability. While surprising, there is more to it.
BUSINESS
Zomato files for IPO: Here is why it is a landmark moment for the startup ecosystem
The first couple of IPOs could set the stage for a number of things. Where valuations settle could determine whether other privately held unicorns can continue commanding rich valuations or whether there will be a correction. Most importantly, the initial IPOs could shape the narrative and decide the legitimacy of the startup ecosystem at large for years to come.
BUSINESS
Avataar Ventures raises $100 million opportunity fund
From this fund, Avataar plans to continue its strategy of investing $10–$30 million in B2B and SaaS companies that have at least $15 million of Annual Recurring Revenues and are looking to scale globally.
BUSINESS
Unacademy acquires Blume-backed TapChief
The deal continues Unacademy's acquisition spree across sub segments of online education, and widens its reach significantly.
BUSINESS
Amazon to make in India, to start production in Chennai by 2021-end
In a huge shot in the arm for the government effort to boost local manufacturing, Amazon India said it would open its first manufacturing outlet in Chennai.
BUSINESS
EXCLUSIVE: Healthcare startup Innovaccer to enter unicorn club, in talks with Tiger Global for $100-$150 million funding
The SaaS startup was valued at $400 million last February, when it raised $70 million from a clutch of investors including Tiger Global and Steadview Capital. Innovaccer takes millions of data points such as patient profiles, risk factors and types of disease, and channels that data to digitise solutions for hospitals, clinics and patients
BUSINESS
Last week in startup funding | Dailyhunt gets $100 million more; D2C brands, meat delivery continue to attract investors
Dailyhunt has now raised $200 million in two months, a well-known makeup brand got funded and a gaming IPO may be on the way.
BUSINESS
India Quotient in talks to raise $80-million fourth venture fund
India Quotient wants to be among the country's top VC firms by returns, a challenge given the multinational heavyweights involved. Moneycontrol looks at what has worked and what has changed for the eight-year-old firm.
BUSINESS
Sequoia-backed MoneyTap to launch ‘Buy Now Pay Later’ model
BNPL is becoming used increasingly by millenials for shopping online and traveling, but its risk needs to be fully understood
BUSINESS
Cryptocurrency ban will be unprecedented, govt bitcoin defeats purpose, say experts
They believe it makes sense to regulate rather than proscribe one of the fastest growing sectors in fintech globally; to consider a draconian piece of legislation will deprive investors and entrepreneurs of participating in a great wealth creation opportunity
BUSINESS
Fear, panic and bounce-back: Inside a transport startup's pandemic rollercoaster
Mumbai-based transportation startup Cityflo was growing at a steady pace when the Covid pandemic hit. The lockdown that followed crippled the bus aggregator, with its services coming to a screeching halt overnight. However, as many a business fell by the wayside, Cityflo battled, survived , learnt lessons along the way, and is now looking to thrive. This is its story
BUSINESS
Blume Ventures to raise new fund to offer exits to existing investors in rare startup move
Blume Ventures, the Mumbai-based startup investor, is preparing to raise a secondaries fund to replace existing investors with new ones and pump money in up to 12 businesses.
BUSINESS
Cannabis startup Hemp Horizons raises Rs 2 crore in seed funding
Founded by Rohit Shah, Kartikey Dadoo, and Kanishk Yadav, the company wants to make use of cannabis for medicinal purposes.
BUSINESS
Spotify nears 350 million users driven by India
Spotify’s growth in India has been driven by its Spotify Premium Mini, where for Rs 7 or 25 users can have daily or weekly subscriptions to ad-free music and download upto 30 songs on a device.
BUSINESS
Exclusive | Temasek in talks to back Ronnie Screwvala’s upGrad at valuation of nearly $500 million
upGrad looks to ride the online education boom and join companies such as Byju’s and Unacademy that raised funds from overseas investors in recent months.
BUSINESS
Budget 2021 | With a few reforms, Nirmala Sitharaman leaves startup ecosystem asking for more
Though Nirmala Sitharaman announced some reforms for startups, a lot of key issues, including on foreign listing and cryptocurrency, were not addressed.
