BUSINESS
Meesho revenue jumps 33% to Rs 7,615 cr in FY24, adjusted loss declines 97%
Costs during the year went down since the launch of Valmo, its in-house logistics service, which has helped the company reduce reliance on 3PL players for shipments, and gave it more bargaining power.
BUSINESS
India needs to invest more on public and private sector side to catch up with the US, says GitHub CEO Thomas Dohmke
As of June, India was estimated to have more developers than the US by 2027. That timeline has now been pushed out by a year to 2028. The latter’s acceleration and innovations continues to put it ahead of the others.
BUSINESS
GitHub’s developer base in India crosses 17 million, retains tag of fastest growing community in the world
India's booming developer community is using AI to build AI in record numbers, making it evermore likely that the next great multinational will come from the region, GitHub CEO Dohmke said.
COMPANIES
Vridhi Home Finance nears deal to raise Rs 300 crore from Norwest Venture Partners
The two-year old company, founded by veteran mortgage bankers, is commanding a valuation of $150 million, nearly double of $70-80 million from last year, sources told Moneycontrol
BUSINESS
Captain Fresh picks Axis Capital, BofA as bankers for $400 million public listing; prepares for pre-IPO fundraise
Captain Fresh is preparing to raise $50-60 million in a pre-IPO round led by existing investor Accel. Others like Tiger Global, BII and Prosus will also participate, sources told Moneycontrol.
BUSINESS
Zomato-owned Blinkit to set up express dark stores for 30-minute delivery of high-value items
Internally, Blinkit plans to facilitate these deliveries through a chain of “express dark stores” and is aiming to launch the offering around the middle of FY26, sources told Moneycontrol.
BUSINESS
Zomato founder Deepinder Goyal registers Continue, a longevity venture focussed on health tracking, mental wellness
To be sure, this is Goyal’s personal passion at this point. In a statement to Moneycontrol, a company spokesperson said, “Zomato isn’t venturing into any new space, and continues to focus on its four businesses.”
BUSINESS
Zepto likely to raise up to $150 million from Motilal Oswal, others in third funding round in 4 months
Of the $40 million that Motilal Oswal will invest, Raamdeo Agrawal, chairman and co-founder of Motilal Oswal, will put in around $15 million in his personal capacity and increase his stake in the company, sources told Moneycontrol. Agrawal is already an investor in Zepto.
BUSINESS
IPO-bound OfBusiness co-founder Nitin Jain to start AI venture
Jain, however, told Moneycontrol that he is “very much part of OfBusiness, (and is) just exploring options" with OfBusiness as a partner. "I’m still a proud OfBian.”
BUSINESS
Blinkit junks 'zero notice period' policy as talent hunt simmers in quick commerce
Since the policy's introduction in July, Blinkit's rival Zepto has raised $340 million, Flipkart Minutes has scaled beyond Bengaluru to other parts of India and Swiggy has received approval for its IPO.
STARTUP
Licious to acquire My Chicken and More for Rs 200 crore and deepen offline play
As part of the acquisition, Licious will have an additional 22 physical stores which will give it an edge over industry peers like Zepto, Tata BigBasket and help it compete closely with legacy players like Venkys, Nandus and others.
BUSINESS
Good Glamm Group puts three of its companies on sale to stay afloat; taps Mamaearth, Nykaa, Purplle, among others
Organic Harvest, The Moms Co, and Sirona, all owned by The Good Glamm Group, are up for sale. Good Glamm Group’s Darpan Sanghvi has met Mamaearth’s Varun Alagh, Purplle’s Manish Taneja and top executives at Nykaa, sources told Moneycontrol.
BUSINESS
People took us seriously once Ratan Tata came on board: Startup founders and investors pay tribute to the legend
Ratan Tata’s bets have earned him handsome returns. While Upstox delivered a return of over 23,000 percent, an early bet on Lenskart reportedly gave him a 28X return on his investment. Similarly, Ola Electric and Firstcry, new-age companies that went public this year, gave him returns of 10X and 450 percent respectively.
COMPANIES
How Zomato plans to win events biz: Invest in stadium infra, hope Swiggy doesn't buy BookMyShow
Zomato was earlier the number three player in the events and ticketing business. But has now become number two, only behind BookMyShow, Goyal said
BUSINESS
MC Interview: Food delivery will have to change, 10-minute deliveries can be a gamechanger, says Zomato’s Deepinder Goyal
“We just stuck to our jobs and continued moving forward day by day. I can't see anything special we have done, to be very honest," Goyal tells Moneycontrol in an hour-long conversation in Bengaluru
BUSINESS
Swiggy IPO: Good for the sector to have multiple players, says Zomato’s Deepinder Goyal
Goyal, in an interview to Moneycontrol, said that navigating public markets is easier as companies get to think more long term and are not bound by weekly reviews by VCs
BUSINESS
Zepto zeroes in on shopping mall for head office on Bengaluru's Sarjapur road; to move all employees by February
While the larger move will take time, Zepto has started moving some roles into an adhoc office in Bengaluru where operations will begin from around November 11, one of the persons cited told Moneycontrol.
BUSINESS
Swiggy to sponsor Shark Tank Season 4, excludes Zomato founder Deepinder Goyal as part of deal
Swiggy’s bid to block Deepinder Goyal from Shark Tank underscores the intensifying rivalry between the two companies, which compete in food and grocery delivery.
BUSINESS
Swiggy gets shareholders' nod to increase IPO size to Rs 5,000 crore
Only the size of primary issue has been increased from Rs 3,750 crore to Rs 5,000 crore. The offer for sale (OFS) component remains unchanged at Rs 6,664 crore.
BUSINESS
Karnataka CID takes over probe into Swiggy’s Rs 33-crore graft complaint against ex-employee
Srikhara KM, the main accused, was finance manager at the company's B2B arm, says the FIR. He colluded with 12 other people and firms to defraud Swiggy over a period of time
BUSINESS
Is Zepto’s meat brand Relish on track to become a Rs 500 crore business? What the numbers say
Relish’s monthly sales were in the Rs 12-15 crore range from April to September which translates to an annualised revenue run rate (ARR) of Rs 144-180 crore, in contrast to Zepto’s recent comments on the vertical being a Rs 500 crore business, per internal documents accessed by Moneycontrol.
BUSINESS
Peak XV cuts fund size by $465 million, reduces partner payout amid market frenzy
Peak XV will now have a 2/20 compensation structure, with a provision to catch-up on carry to 30 percent, in a move that will bring the investor on par with its industry peers.
BUSINESS
Swiggy IPO: 7 key takeaways from updated DRHP
Swiggy's IPO is among the biggest public offers in India this year and is one of the largest offers by a new-age company
BUSINESS
IPO-bound Swiggy sees losses widen to Rs 611 cr, despite 36% surge in Q1 revenue
Swiggy Instamart, the company's quick commerce arm, had a revenue of Rs 374 crore (up 108 percent) in Q1FY25 while its rival Zomato-owned Blinkit clocked a revenue of Rs 942 crore (up 23 percent) during the same period.
