All of Spinny’s employees irrespective of role and designation, including blue-collar workers, would be eligible to receive stocks through the Spinny Stock Option Plan for All
Rising inflation, geopolitical situation and looming recession in the US and Europe deter investors. However, early-stage deals would rebound faster and niche and emerging sectors would gain prominence over the next 12-18 months.
The acquisition of PoshVine would enable Razorpay to encourage more interaction between merchants, banks, and consumers by driving additional channels for rewards and driving additional spending digitally.
Unacademy has slashed its monthly burn to Rs 50-60 crore from more than Rs 200 crore previously, sources said requesting anonymity. This has come on the back of various measures that it undertook as funding slowed down and investors turned cautious.
Nigam pointed out that when payment modes are made free of cost there is an underlying assumption that companies involved in these businesses will have alternate sources of revenue. However, that may be possible for banks, but not startups, he added.
With the growth engine sputtering, funding slowing down and the spectre of regulation looming large, there are many curveballs that Unacademy and its peers will have to grapple with in the coming months. At a time like this, Gaurav Munjal has been extremely bullish on Relevel
Byju’s’ FY21 revenue released last week showed that the company has a revenue multiple of over 40 for the year as it was valued at about $13 billion as of March 2021.
The investment will enhance Cred's partnership with LiquiLoans, which enables Cred's users to participate in P2P lending opportunities through the Cred Mint product.
This year, the company thus changed it to ‘sale of edutech products.’ Byju’s got Rs 1,848.74 crore from sale of edutech products that comprises tech embedded devices, tablets, SD cards and laptops. Sale of edutech products still accounts for the most of Byju’s revenue.
If Byju’s fails to complete the payment by September 23, the company will have to seek an extension from the RBI for closing the transaction, according to lawyers Moneycontrol spoke with.
The company's revenue fell 3 percent year on year to Rs 2,428 crore on a consolidated basis, down from Rs 2,704 crore the previous year, according to the FY21 results. Byju's reported a Rs 4,500 crore loss in FY21, nearly 17 times the Rs 262 crore loss in FY20 (2019-20).
Nearly 25 per cent of the start-ups in the Silicon Valley were managed by people of Indian origin and it was a matter of pride, Nirmala Sitharaman said in an event.
Ronnie Screwvala-backed edtech startup failed to pay back debts and defaulted on payments to former employees
Nandan Nilekani's Fundamentum Partnership stayed away from any new investment in 2021 as the firm couldn't find companies where it thought it would be able to generate returns.
Shroff was elevated as Unacademy's CMO in September 2020. Before Unacademy, Shroff was with Xiaomi as its head of brand marketing in India for a little over four years.
The funding slowdown is healthy because nothing was changing in the business but valuations were going up because of the fear of missing out for venture capital firms
Executives from the hedge fund company’s US office have met investors many times in Bengaluru. The meetings are happening at a time when the company is increasingly looking at investing in younger startups across the world as some of its late-stage bets are turning sour.
Schola’s acquisition will help Brightchamps in adding English speaking and communications vertical, a segment that will help it scale faster in its key markets--Southeast Asian countries such as Vietnam, Thailand and Indonesia.
PhysicsWallah’s comments on profitability and the company’s expansion plans come at a time when edtech companies in India have struggled with softening demand post the pandemic amid reopening of schools, colleges and physical tuition centers.
Fundamentum joins a growing list of early-stage venture capital investors in India to have raised large funds for Indian-focused startups. Earlier this year, VC firms Accel and Elevation Capital had also closed their largest-ever India-focused funds.
The Infosys chairman’s comments on profitability come at a time when venture capital and private equity firms, investment bankers and veterans are advising startups to prioritise profitability over growth
In its fifth acquisition in less than four years, Razorpay picks up an 80 percent stake in Ezetap Solutions Pte Ltd, the parent entity of Ezetap Solutions Pvt Ltd, which will see it go up against Pine Labs, MSwipe and BharatPe among others
"I wish startups focus more on a business model that produces cash rather than taking money at $2 billion, $3 billion in valuation. That is not the capital that will build great companies in the world. So capital is not very important, it’s your business model," Jhunjhunwala said
upGrad's multi-million dollar fundraise and aggressive hiring plans come at a time when edtech companies in India including some of the highest-valued unicorns like Unacademy, Byju's and Vedantu are firing hundreds of employees amid a decline in demand for their services
LetsVenture was selected for the accelerator program earlier this year, through which the VC plans to support around eight startups in the first phase