BUSINESS
Etsy’s India gamble falters amid leadership exit, freeze on seller onboarding
The exit of India Head Pankaj Jathar comes at a time when Etsy is grappling with a strategic shift away from the Indian market, facing significant global challenges, including declining sales, a plummeting stock price, and increasing competition.
BUSINESS
Secondary funds bloom as venture capital investors seek more exit options
A majority of secondary players aren't necessarily looking for distressed sales anymore. They're looking for great businesses but distressed investors, a fund manager told Moneycontrol.
BUSINESS
Big Billion Day: Zepto about to close fresh $340 million round led by General Catalyst, surpassing $1 billion funding in two months
Zepto's new round comes weeks after Moneycontrol first reported on July 2 that the company has received interest for a $250 million cheque from General Catalyst as part of a larger round.
BUSINESS
Is quick commerce eating into kiranas or e-commerce? Blinkit, Swiggy, Zepto, DMart, Delhivery weigh in
While it is difficult to pinpoint, Neville Noronha, MD and CEO of Avenue Supermarts, which runs DMart, said the advent of quick commerce has resulted in a 1-1.5 percent impact on the company.
BUSINESS
Having a listed competitor is both good and bad, says Swiggy chief Majety
The comments come as Swiggy gets ready to launch its initial public offer later this year, while rival Zomato has seen the share price rocket on improving profits
BUSINESS
Leading Flipkart Fashion, Myntra two very different jobs, says chief Nandita Sinha
India's e-lifestyle market is estimated to be around $40-45 billion in size by 2028, up from $16-17 billion currently.
BUSINESS
Power struggle? Amit Agarwal in control of Amazon India as Manish Tiwary bows out
Over the past year or so, Amazon’s competitive intensity has reduced, according to a founder who is a top seller on both Amazon and Flipkart.
BUSINESS
Mumbai’s loss is Bengaluru’s gain: Zepto to move headquarters to tech capital
Zepto is expected to save around Rs 40-50 lakh in rent a month because of its move from Mumbai to Bengaluru, sources have told Moneycontrol
BUSINESS
Flipkart Fashion head Arief Mohamad to quit; Myntra CEO Nandita Sinha will lead operations
Flipkart Fashion and Myntra will retain their independent structure, even though they will be led by the same person.
BUSINESS
FirstCry IPO enhanced our corporate governance and disclosures, says founder and CEO Supam Maheshwari
"There is no pressure for a company of our stature, size and maturity curve. What is the pressure if you have been delivering operational profitability for the last four years," says FirstCry founder Supam Maheshwari.
BUSINESS
Neobanking startup Zolve to raise $25 million from Creaegis as part of larger round
The new round values the company at around $330-360 million, one of the people in the know told Moneycontrol.
BUSINESS
Dunzo co-founder Mukund Jha in talks to raise Rs 80 cr for his Gen AI startup
Jha, who was with Dunzo from 2015 until 2023, has previously worked with Google in New York, where he tried starting up two of his own companies.
BUSINESS
FirstCry likely to list on stock exchanges on August 13
The startup will launch the anchor book for its IPO on August 5, with the issue likely to open for public subscription between August 6 and August 8, sources told Moneycontrol.
BUSINESS
Unicorn alert! Trading startup Dhan in discussions to raise $100 million at $1.5 billion valuation
For Dhan, the new round will be its largest since its inception in 2021 and even the company’s valuation will increase significantly from around $150 million to a staggering $1.2-1.5 billion.
BUSINESS
TPG NewQuest India MD Nitin Agarwal resigns
Agarwal has invested in companies across industries, including financial services, consumer, education, business services, logistics and more, over the past years.
BUSINESS
Eight Roads Ventures Asia managing partner Raj Dugar quits
While not finalised yet, Dugar has been engaging with investors within the ecosystem and may start his own secondaries fund to tap into a growing market, sources told Moneycontrol.
TECHNOLOGY
Dairy Dreams: Milky Mist eyes IPO at Rs 20,000 crore valuation months after WestBridge talks fall through
Founded by a school dropout T Sathish Kumar, Erode-based Milky Mist ended FY 24 with a turnover of Rs 2,000 crore and a profit of around Rs 50 crore
TECHNOLOGY
General Atlantic's India COO Alok Misra quits
Anand Agarwal, former chief financial officer of Amazon’s consumer business in India, has been handed over Misra's responsibilities.
TECHNOLOGY
Swiggy shares on the menu: Secondary transactions gain steam ahead of IPO
Prosus, Accel, Elevation are among the sellers and 360 One, HNIs are the ones buying shares in Swiggy, sources told Moneycontrol. During negotiations, the company has signalled confidence that it can IPO at a valuation of about $10-13 billion later this year, they added. Secondary transactions currently value the company at $9.3 billion.
TECHNOLOGY
Premji Invest in talks to invest Rs 200 crore in omnichannel furniture company Wooden Street
Wooden Street has remained profitable and caters to the customers in the premium space. Its make in India approach has helped it attract investor money, sources told Moneycontrol.
TECHNOLOGY
Former Zepto executive Ashish Shah joins DealShare as CFO
Apart from Ashish Shah, Chief Business Officer (CBO) and Chief Growth Officer (CGO) Viral Jhaveri and VP Manik Oberoi have also left Zepto in recent months. Chief Marketing Officer Amritansu Nanda too quit last year.
TECHNOLOGY
Zepto draws interest for $250 million more following $665 million raise; General Catalyst, Sovereign Funds queue up
If the round closes, Zepto will become the only company to have raised over $1 billion in such a short span this year, surpassing Flipkart which raised $950 million in May. Such funding frenzy was last seen in 2020 and 2021.
TECHNOLOGY
Draft gig worker bill: Karnataka likely to impose per transaction fee for welfare fund
The fee will be decided after considering feedback from the aggregators and unions. Officials said the idea is not to control businesses, but to ensure that gig workers are protected.
TECHNOLOGY
Former SoftBank partner Lydia Jett is back on Flipkart board
This is Jett’s second stint as a board member at the e-commerce giant. She was a SoftBank representative before Walmart acquired Flipkart
