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  • Tiger Global-backed Spinny launches ESOP plan for all employees Oct 04, 2022 07:44 AM IST

    Tiger Global-backed Spinny launches ESOP plan for all employees

    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

  • Indian startups stare at two years of funding winter even as investors sit on a $9 billion dry powder Sep 28, 2022 10:48 AM IST

    Indian startups stare at two years of funding winter even as investors sit on a $9 billion dry powder

    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.

  • Razorpay buys customer loyalty and rewards platform PoshVine in 7th acquisition Sep 27, 2022 05:10 PM IST

    Razorpay buys customer loyalty and rewards platform PoshVine in 7th acquisition

    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.

  • SoftBank-backed Unacademy cuts monthly burn down to a fourth, eyes breakeven by January Sep 26, 2022 08:25 AM IST

    SoftBank-backed Unacademy cuts monthly burn down to a fourth, eyes breakeven by January

    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.

  • PhonePe CEO Sameer Nigam makes renewed pitch for MDR, warns there is no path to recovery otherwise Sep 22, 2022 05:37 PM IST

    PhonePe CEO Sameer Nigam makes renewed pitch for MDR, warns there is no path to recovery otherwise

    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.

  • A difficult candidate test, broken job promises and refund dispute: Unacademy’s Relevel comes under fire Sep 22, 2022 06:49 AM IST

    A difficult candidate test, broken job promises and refund dispute: Unacademy’s Relevel comes under fire

    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 becomes the world’s most-expensive edtech after FY21 revenue decline Sep 20, 2022 07:04 AM IST

    Byju’s becomes the world’s most-expensive edtech after FY21 revenue decline

    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.

  • Kunal Shah's Cred to invest $10 mn in LiquiLoans to strengthen P2P lending capabilities Sep 16, 2022 05:14 PM IST

    Kunal Shah's Cred to invest $10 mn in LiquiLoans to strengthen P2P lending capabilities

    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.

  • MC Explains | Byju’s: How does it earn money and where does it spend? Sep 16, 2022 07:35 AM IST

    MC Explains | Byju’s: How does it earn money and where does it spend?

    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.

  • Byju’s has a week left to pay Blackstone Rs 2,000 crore for Aakash deal Sep 15, 2022 02:43 PM IST

    Byju’s has a week left to pay Blackstone Rs 2,000 crore for Aakash deal

    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.

  • Byju’s logs in surprise fall in FY21 revenue, losses widen 20 times Sep 14, 2022 03:53 PM IST

    Byju’s logs in surprise fall in FY21 revenue, losses widen 20 times

    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).

  • India has over 100 unicorns with a value at $250 billion: FM Sitharaman Sep 10, 2022 08:08 PM IST

    India has over 100 unicorns with a value at $250 billion: FM Sitharaman

    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.

  • Lido Learning files for bankruptcy, 6 months after asking over 1,200 staffers to quit Sep 08, 2022 01:46 PM IST

    Lido Learning files for bankruptcy, 6 months after asking over 1,200 staffers to quit

    Ronnie Screwvala-backed edtech startup failed to pay back debts and defaulted on payments to former employees

  • Tiger Global coming at early-stage investing is good for us: Fundamentum's Sanjeev Aggarwal and Ashish Kumar Sep 05, 2022 12:06 PM IST

    Tiger Global coming at early-stage investing is good for us: Fundamentum's Sanjeev Aggarwal and Ashish Kumar

    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.

  • Unacademy's CMO Karan Shroff, who was elevated as Partner last year, quits Sep 01, 2022 04:38 PM IST

    Unacademy's CMO Karan Shroff, who was elevated as Partner last year, quits

    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.

  • Slowing in startup funding is healthy, signals return to basics: Sanjeev Aggarwal of Fundamentum Sep 01, 2022 12:07 PM IST

    Slowing in startup funding is healthy, signals return to basics: Sanjeev Aggarwal of Fundamentum

    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

  • Tiger Global meets early-stage investors as it looks to double down on young startups in India Aug 29, 2022 10:26 AM IST

    Tiger Global meets early-stage investors as it looks to double down on young startups in India

    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.

  • Binny Bansal-backed Brightchamps buys Singapore-based startup for $15 million Aug 24, 2022 06:50 AM IST

    Binny Bansal-backed Brightchamps buys Singapore-based startup for $15 million

    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.

  • Edtech unicorn PhysicsWallah sees FY23 revenue to top Rs 1,200 cr; to launch new offerings Aug 19, 2022 03:50 PM IST

    Edtech unicorn PhysicsWallah sees FY23 revenue to top Rs 1,200 cr; to launch new offerings

    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.

  • Nandan Nilekani’s Fundamentum Partnership raises $227 million in second fund Aug 19, 2022 03:04 PM IST

    Nandan Nilekani’s Fundamentum Partnership raises $227 million in second fund

    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.

  • Startups need to make money organically, not by putting ads: Nandan Nilekani Aug 16, 2022 06:50 PM IST

    Startups need to make money organically, not by putting ads: Nandan Nilekani

    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

  • Razorpay makes offline foray, acquires PoS player Ezetap Aug 16, 2022 02:31 PM IST

    Razorpay makes offline foray, acquires PoS player Ezetap

    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

  • Remembering  Rakesh Jhunjhunwala: Why the Big Bull was a bear when it came to startups, cryptocurrencies Aug 14, 2022 12:56 PM IST

    Remembering Rakesh Jhunjhunwala: Why the Big Bull was a bear when it came to startups, cryptocurrencies

    "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 raises $210 million at $2.25 billion valuation in round led by ETS Global, Bodhi Tree Aug 08, 2022 10:07 AM IST

    upGrad raises $210 million at $2.25 billion valuation in round led by ETS Global, Bodhi Tree

    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 joins Centre's Samridh scheme, to invest up to $100,000 in startups Aug 06, 2022 07:03 AM IST

    LetsVenture joins Centre's Samridh scheme, to invest up to $100,000 in startups

    LetsVenture was selected for the accelerator program earlier this year, through which the VC plans to support around eight startups in the first phase

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