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The Arc

@thearc_hq

11 months

🚨 Deloitte has resigned as Byju's auditor "We have not been able to commence audit (for FY22) as on date"

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@thearc_hq

1 year

🚨 Reliance is set to up its stake in Viacom18, the corporate home of IPL streamer JioCinema. Reliance’s stake in Viacom18, where US giant Paramount is also a major shareholder, will rise from 51% to 74%. What led to this?

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1 year

Reliance Industries' JioCinema has caught up with Disney+Hotstar in terms of active users As of March end Disney Hotstar: 122 million JioCinema: 118 million

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The Arc

@thearc_hq

10 months

🚨 Just in: 127 gaming startups and industry bodies have written an open letter pleading against the 28% GST on deposit value Says the move will lead to "significant job losses" They have urged the government to consider 28% GST on platform fee instead Full letter 👇

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The Arc

@thearc_hq

1 year

🚨 Softbank says it is close to completely exiting Alibaba Investment since 2000: $55 million Total monetisation: $72 billion 57% IRR over 22 years 📈 Or 1300 times returns 💰 Source: Softbank Results presentation

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The Arc

@thearc_hq

10 months

🚨 Paytm reports a 39% increase in revenues to Rs 2,342 crore for the June quarter as compared to last year Net loss down by 45% to Rs 358 crore Loan disbursals up by 167% to Rs 14,845 crore

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The Arc

@thearc_hq

1 year

🚨 PE firm General Atlantic is expected to lead a funding round of $120-150 million in Acko. It may pump in $50 million, two years after first investing in the insurtech unicorn, sources tell The Arc. Acko has spoken with more investors, including Azim Premji’s family office.

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The Arc

@thearc_hq

1 year

😲 Zerodha founder Nithin Kamath believes the revenues of India’s largest brokerage may decline by 40% in FY24 as investors seek comfort in less risky assets (bonds, gold). Industry watchers tell @madhavchanchani that another factor is weighing on Zerodha’s numbers.

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The Arc

@thearc_hq

1 year

🚚 Delhivery is in the final leg of integrating Spoton, the B2B logistics firm it bought for Rs 1,511 crore in 2021. The union has been chaotic: the combined entity’s losses rose in FY23. And now, Spoton CEO and Delhivery’s top customer relations officer, Abhik Mitra, has quit.

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The Arc

@thearc_hq

3 months

🚨 Google has threatened to delist the apps of 10 companies that are not paying Play Store commissions The Alliance of Digital India Foundation (ADIF) is the body fighting a court case against high service fee ADIF members include Paytm, Matrimony and MapmyIndia among others

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The Arc

@thearc_hq

11 months

🚨 Zomato gains marketshare in food delivery biz, now stands at 55% : JM Financial "Swiggy’s inability to capitalise on the opportunity to gain market share in the food delivery business in 2HCY22 confounds us," the report said.

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The Arc

@thearc_hq

1 year

🚨 Aurum Proptech is acquiring co-living startup NestAway for $11 mn (Rs 90 crore) in cash NestAway was once valued at $220 mn. This deal represents a 95% fall in valuation The startup had raised over $110 million from Goldman Sachs, Tiger Global, Ratan Tata's RNT Capital

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The Arc

@thearc_hq

7 months

🚨 Reliance Brands will acquire 76% of Superdry India biz for $37 million, giving it a valuation of $49 million Reliance Brands and Superdry had entered into a "long-term franchise agreement" back in 2012

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@thearc_hq

3 months

🚨 Reliance and Disney announce merger of India operations Combined unit to be valued at $8.5 billion Shareholding Disney - 37% Reliance - 16% Viacom18 (Reliance subsidiary) - 47%

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The Arc

@thearc_hq

6 months

🚨 PhonePe restructures org, announces four CEOs across multiple units Hemant Gala - Lending unit CEO Vishal Gupta - Insurance unit CEO Ujjwal Jain - Wealth unit CEO Vivek Lohched - Marketplace (Pincode) CEO Company has also crossed 500 million registered users

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The Arc

@thearc_hq

1 year

🚨 Byju Raveendran writes to employees after ED raid "We are funded by 70+ impact investors who have satisfactorily done due diligence on our operations, including all FEMA compliance, we are confident that the authorities will also come to the same conclusion." Full email 👇

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The Arc

@thearc_hq

1 year

Byju's raided by Enforcement Directorate (ED) Three premises relating to founder Byju Raveendran and the company - "Think & Learn" - have been searched for FEMA violations "During the search, various incriminating documents and digital data was seized" - @dir_ed

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The Arc

@thearc_hq

1 year

🚨 A seller on Meesho has fired off a legal notice, accusing the ecommerce unicorn of unfair trade practices. The row confirms growing seller unrest on the platform. The timing of it all is terrible for Meesho, which has cut its cash burn, including incentives for merchants.

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The Arc

@thearc_hq

9 months

🚨 China's Ant Financial to transfer 10.3% stake in Paytm to founder Vijay Shekhar Sharma Sharma's stake will increase to 19.4% after this deal, becoming the largest shareholder Ant Financial will not be the largest direct shareholder, now with a 13.5% stake

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@thearc_hq

1 year

🚨 Delhivery is buying an 11% stake in software startup Vinculum for Rs 25 crore Vinculum makes software for omnichannel brands and retailers Delhivery wants to strengthen its offerings to direct-to-consumer (D2C) brands with the deal 🛒

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The Arc

@thearc_hq

1 year

🚨 The Arc Exclusive 🚨 BlackRock has slashed Byju’s mega valuation by 50%. $22 bn ➔ $11 bn in internal reviews. @madhavchanchani reports:

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The Arc

@thearc_hq

11 months

🚨 Zomato's shares closed at Rs 77.9 on Friday, surpassing the IPO price of Rs 76 after over 15 months The gains reflect Zomato's increased focus on profitability, even as the growth in the food delivery business has stopped. 🍽️ 🛑

Zomato targets plateful of net profits by March 2024 | The Arc

Smartest takes on tech companies

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The Arc

@thearc_hq

7 months

🐰 Rare Rabbit hops towards first external round at $300-mn valuation VC fund A91 Partners may lead the deal, say The Arc’s sources. Menswear brand Rare Rabbit, women’s apparel range Rareism and athleisure line Articale are part of Radhamani Textiles.

Rare Rabbit hops towards first external round at $300-mn valuation | The Arc

Smartest takes on tech companies

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The Arc

@thearc_hq

11 months

🚨 Tata Communications to acquire NYSE-listed mobile communications (SMS marketing) Kaleyra for $100 million Kaleyra had revenues of $339 million for the year ending December 2022 The company also had gross debt of $225 million

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The Arc

@thearc_hq

1 year

Hello, world! We are The Arc. Your new go-to platform for understanding how influential tech businesses are remaking India’s economy.

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@thearc_hq

11 months

👀 Crypto startup Pillow, founded in 2021, has discontinued services. ⛔️ The company had raised about $22 mn from investors such as Elevation, Accel and Quona.

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The Arc

@thearc_hq

8 months

🚨 Saregama to acquire 52% in digital entertainment company Pocket Aces for Rs 174 crore The deal values the company at about Rs 340 crore

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The Arc

@thearc_hq

11 months

🚨 Mukesh Bansal preps $50-mn seed round for new venture. Former Zomato exec Mohit Gupta may hop on as a co-founder. The new venture will operate as a holding entity with two businesses managed separately by Bansal and Gupta, sources tell @AditiS90 .

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@thearc_hq

10 months

🚨 Reliance Retail is in talks to acquire actress Alia Bhatt's kidswear brand Ed-a-mamma for Rs 300-350 cr, reports ET Ed-a-mamma had revenues of Rs 16.2 cr in the year ending March 2022 Details 👇

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The Arc

@thearc_hq

1 year

🚚 Delhivery says its chief compliance officer and company secretary Sunil Kumar Bansal has resigned The company is looking for a replacement by May 31 Bansal joined Delhivery just before the IPO filing in August 2021 Second major exit in two weeks 🧑‍💼 ➡️

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The Arc

@thearc_hq

7 months

🚨 Anchor investors have subscribed to about 45% of Mamaearth's IPO book Investors like Capital Group, Abu Dhabi Investment Authority and Fidelity have picked up shares worth Rs 765 crore in the Rs 1,700 crore IPO

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The Arc

@thearc_hq

1 year

On Friday, we broke the news that BlackRock has slashed Byju’s valuation by 50% to $11 billion. So, what are the likely implications?

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The Arc

@thearc_hq

2 months

💸 Rs 21,534 crore! That’s what China’s Alibaba is packing for its flight from India, where it invested Rs 15,264 crore between 2015 and 2020. 🇮🇳 ➡ 🇨🇳 Plus, there are unrealised gains of Rs 12,600 crore💰

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The Arc

@thearc_hq

1 year

🚨 PhonePe has closed its third tranche of funding from PE firm General Atlantic General Atlantic has now invested $550 million out of the $850 million raised by PhonePe It is targeting a $1 billion raise 💰

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The Arc

@thearc_hq

10 months

🚨 Reliance, Blackrock form joint venture for asset management in India The two companies will invest $300 mn in the business

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The Arc

@thearc_hq

10 months

🚨 Swiggy has acquired Lynk Logistics to expand into the retail distribution market The transaction is primarily a share swap deal Lynk works with FMCG players like HUL, Marico, Dabur and Britannia

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The Arc

@thearc_hq

9 months

🚨 Reliance Industries announces the appointment of Isha, Aakash and Anant as non-executive directors on the board of the company

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The Arc

@thearc_hq

10 months

🚨 Cartrade to acquire the auto business of Olx for Rs 537 crore

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The Arc

@thearc_hq

7 months

🚨 Lending startup Slice says it has got RBI approval to merge with North East Small Finance Bank

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The Arc

@thearc_hq

1 year

Paytm promotes Bhavesh Gupta to president and COO (chief operating officer) Gupta has been spearheading the lending business, a key unit driving its growth since IPO and operating profitability He was also given responsibility for offline payments in December 2021

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The Arc

@thearc_hq

1 year

🏩Oyo’s confidential IPO filing pegs its target valuation at $4-6 billion. That’s well below the $10-billion decacorn valuation that the startup, backed by SoftBank, scored in 2019.

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The Arc

@thearc_hq

1 year

🚨 Dream11's Harsh Jain appointed as the new chairman of tech industry lobby IAMAI He takes over from Google India head Sanjay Gupta MakeMyTrip's Rajesh Magow replaces Meta's Shivnath Thukral as vice chairman

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The Arc

@thearc_hq

11 months

🚨 Arc Exclusive Prosus, Swiggy’s largest investor, plans to sell a chunk of its 32% stake in the company, say sources. The move will help Prosus avoid the promoter tag and limits during Swiggy’s planned IPO, reports @madhavchanchani . Scoop 👇🏾

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The Arc

@thearc_hq

6 months

🚨 Warren Buffett's Berkshire has exited Paytm with a 40% loss Total Invested - $261 million Total Exit - $158 million

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The Arc

@thearc_hq

10 months

🚨 Just in: Byju's has appointed former Infosys CFO Mohandas Pai and former SBI chairperson Rajnish Kumar to its advisory board

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The Arc

@thearc_hq

1 year

India’s tech landscape saw some seismic shifts this week. 🔻 Valuation markdowns 😢 More layoffs 🏃‍♂️ Investor exits 🧐 New unicorn priorities (EBITDA over growth). 📠 Last-ditch funding deals The Arc decoded crucial developments. Explore our coverage — it’s free to read! 🧵

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The Arc

@thearc_hq

8 months

🚨 Reliance and Nvidia partner to build LLM in local languages of India Reliance will create AI applications and services for 450 million Jio customers It will also provide energy-efficient AI infrastructure to scientists, developers and startups

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The Arc

@thearc_hq

1 year

🧮 Softbank's India bets over the last 3 years The last investment was software company in April 2022 Source: BofA Research

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The Arc

@thearc_hq

11 months

🚨 “Markets won’t carry a company making losses for 5-10 years.” Info Edge’s Sanjeev Bikhchandani offers a blunt assessment of the task before listed and IPO-bound unicorns. In a chat with @AditiS90 , he also talks about founder ESOPs and adjusted EBITDA.

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The Arc

@thearc_hq

1 year

James Murdoch and Uday Shankar’s Bodhi Tree was supposed to enter Viacom18 with a hefty cheque. But Bodhi Tree is now investing 70% less. So, Reliance is stepping up with a $1.3-billion infusion, 6X more than what it had planned. We have the details👇

Reliance to hike stake in Viacom18, owner of JioCinema, to 74%

Arc Notes JioCinema is a part of Viacom18, which is co-owned by Reliance and US media giant Paramount. Bodhi Tree, a venture by James Murdoch and former Star India chief Uday Shankar, was supposed to...

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The Arc

@thearc_hq

11 months

🚨🔥 Byju's has now filed a case against lenders in its $1.2 billion term loan B (TLB) in the New York Supreme Court Lenders have demanded repayment of the entire TLB Fight primarily with distressed debt investor Redwood Byju's has stopped making any debt repayments

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The Arc

@thearc_hq

10 months

🧐 PharmEasy’s five founders collectively own 4.2% of the company. Acquisitions, debt, and more debt left the unicorn without favourable options. It’s headed for a down round to raise much-needed capital. Read The Arc’s quick analysis: 🔗

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The Arc

@thearc_hq

6 months

🤑 Mamaearth IPO: The pack of early winners 💥 Return multiple at Rs 324 share price - Fireside Ventures: 44X - Titan Capital: 100X - Stellaris: 41X - Rishabh Mariwala: 54X - Shilpa Shetty: 8X - Peak XV: 3X @madhavchanchani analyses the bets.

Mamaearth IPO: Fireside Ventures leads pack of early winners | The Arc

Smartest takes on tech companies

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The Arc

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10 months

🚨 Sleepwell mattress owner Sheela Foam to acquire 35% stake in Furlenco for Rs 300 cr: BSE filing The deal valued the company at about Rs 860 cr The deal will help will Sheela Foam enter "the fast-growing branded furniture market" Furlenco's revenue was up 18% in FY23

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The Arc

@thearc_hq

11 months

🛍️ Meesho’s quarterly income is up 6%: Sources The ecommerce unicorn is growing despite slashing its high spend on marketing and incentives. Though flattish, Meesho’s figures for the first quarter of CY23 exceed dire expectations about its performance.

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The Arc

@thearc_hq

1 year

PhonePe's @_sameernigam has said that it has - Hired 130 employees of ZestMoney - Bought a copy of the technology IP PhonePe doesn't plan to take over any assets of ZestMoney PhonePe has extended a loan of $18 million to ZestMoney as a "lifeline", as per earlier reports

The Arc

@thearc_hq

1 year

🚨 ZestMoney’s founders - Lizzie Chapman (CEO), Priya Sharma (CFO) and Ashish Anantharaman (CTO) - are stepping down from their operating roles They will transition over the next 4 months A new management team is expected to take over

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@thearc_hq

10 months

⚡️🚗 Tesla has proposed establishing a car factory in India with an annual capacity of 5 lakh units, according to TOI. The starting price of EVs may be Rs 20 lakh. In the US, the entry-level Tesla, called Model 3, sells for Rs 43 lakh.

Tesla plots India entry, may sell cars from Rs 20 lakh | The Arc

Smartest takes on tech companies

thearcweb.com

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1 year

#ArcExclusive 💥WestBridge Capital strikes again! 💼🚀 It has bought over $200 million worth of shares in Nasdaq-listed cloud security player, Zscaler! 💰💻 This comes after a massive bet on Freshworks

WestBridge bets over $200 mn on software firm Zscaler | The Arc

Smartest takes on tech companies

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@thearc_hq

5 months

🛵 Hero MotoCorp drives up Ather stake Hero bought Ather shares from an existing investor, thought to be Sachin Bansal, for Rs 140 cr. Its total stake now nudges 40%. The transaction values Ather, which makes e-scooters, at $560 mn, down from $740 mn.

Hero buys another 3% in Ather at $560-mn valuation | The Arc

Hero’s total stake in the startup is approaching 40%.

thearcweb.com

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@thearc_hq

11 months

🚨 Lenskart raises $100 mn from ChrysCapital in a mix of primary & secondary share purchases. This latest investment brings Lenskart's total capital infusion to nearly $850 mn within the past year.

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@thearc_hq

7 months

🚨 PhonePe says that revenues went up 77% in FY23 to Rs 2,914 crore But the EBITDA loss went up by 9% to Rs 1,755 crore, primarily driven by higher ESOP costs

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The Arc

@thearc_hq

10 months

🚨 Swiggy announces ESOP buyback of $50 million 💰 This is Swiggy's fourth liquidity event since 2018

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The Arc

@thearc_hq

1 year

🚨 Arc Exclusive 🚨 Investment platform Groww has reached a revenue run rate of $200-250 million, becoming profitable, say sources. But oddly for the company, its large base of new-to-investing users, built with significant resources, hasn’t delivered this win. 🤔Then who…⁉️

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@thearc_hq

11 months

📚 💲 PhysicsWallah makes its sixth acquisition in a year. 50% stake in Xylem for Rs 500 cr. What does Xylem, a hybrid-learning firm based in Kerala, bring to the table?

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The Arc

@thearc_hq

10 months

🚨 EY & BDO have valued Reliance Retail at $92.5-96.3 bn That’s a 50% premium to its last valuation of $63 bn it got in 2020 The valuation exercise comes as Reliance wants to buy out those trading its shares in the private, unlisted market

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@thearc_hq

10 months

🧳Makemytrip clocks record gross bookings of $2 billion in April-June quarter ✈️ $1.2 billion, up 31% 🏖️ $498 million, up 38% 🚍 $277 million, up 25%

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@thearc_hq

8 months

🍝 Veeba approaches sales high, but may see early backer cash out Bittersweet 🎭 - The maker of sauces will log Rs 1,000 cr in annual sales and has lined up new brands. - Veeba’s first institutional investor, DSG, is likely to sell much of its 17% stake.

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6 months

🚨 Delhivery acquires an additional 4.75% stake in warehouse automation company Falcon Autotech for Rs 52 crore Stake in the company now at 39% FY23 Revenues: Rs 281 crore, up 38%

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The Arc

@thearc_hq

10 months

🚨 IndiaMart is considering a buyback of equity shares in their board meeting on July 20 The company had Rs 2,202 crore of cash & investments as of March 2023

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10 months

🚨 PayU to sell its global payments business for $610 million in an all cash deal to fintech co Rapyd PayU will now focus on the India business 🇮🇳

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@thearc_hq

10 months

🚨 Dunzo partly shifts away from a dark stores-only model Dunzo now also uses local retail shops for grocery orders. It invests in dark stores only in areas with high demand. The changes follow a $75-mn round, where Reliance and Google set strict terms.

Dunzo reworks business model after tough round from Reliance, Google | The Arc

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The Arc

@thearc_hq

1 year

🕯️🔻 Trell is just about keeping the lights on, a year after an EY audit alleged financial irregularities in its books. With the social-commerce player’s core biz declining markedly, fresh funding is out of its reach. Desperate for movement, it’s now entering the software space.

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The Arc

@thearc_hq

3 months

🚨 Four top investors in Byju's have moved to NCLT to stop the $200 million rights issue 🧑‍⚖️ These investors include Prosus, General Atlantic, Peak XV and Sofina 💰 The investors have also asked for a forensic audit 🔍

Byju’s top investors vote to remove founder, stop rights issue | The Arc

Smartest takes on tech companies

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1 year

💪🏽 WeWork India may be valued higher than troubled US parent NYSE-listed WeWork’s market cap: $400 mn Indian unit’s valuation ask in new round: $600 mn This dynamic is unfolding because parent WeWork’s share price has dived 60% after CEO and CFO’s exits.

WeWork India’s valuation may overtake troubled US parent | The Arc

Smartest takes on tech companies

thearcweb.com

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7 months

🚨 Reliance Retail partners with SBI Cards to launch two co-branded credit cards Amazon has a co-branded card with ICICI Bank while Flipkart has a card with Axis Bank

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8 months

☕️ Fresh funding of $35 mn pours into Third Wave. The café chain’s valuation is likely to reach $150 mn following the round, which was led by Creaegis. Third Wave plans to add 50-60 stores this year as intense competition brews in the coffee space.

Third Wave bags $35 mn, chases Starbucks’ store expansion rate | The Arc

Smartest takes on tech companies

thearcweb.com

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The Arc

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10 months

🚨 Fino has initiated the process to apply for a small finance bank license The move will allow Fino to start lending to its 8.3 million customers Fino got a payments bank license in March 2017 Fino is exploring a reverse merger with the parent company

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8 months

🚨 KKR invests another $250 million in Reliance Retail at $100 billion valuation Comes after the recent $1 billion raise from Qatar Investment Authority (QIA)

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11 months

🤯 PharmEasy’s $5.5-bn valuation may plummet to $500-750 mn after down round The medicine-delivery player plans raise Rs 2,400 cr through a rights issue at a 90% lower share price, say reports. Temasek and Manipal Hospitals are driving the deal.

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11 months

🧐 2 years after Thrasio-style aggregators in India bought dozens of consumer brands, disputes are emerging over deal terms and payouts. Personal-care range Florona’s former owner has accused Mensa of failing to promote the brand and maximise revenues.

Lawsuit against Mensa highlights pitfalls in Thrasio-like play | The Arc

Smartest takes on tech companies

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2 months

🚨 Third Wave Coffee has appointed Rajat Luthra, formerly head of KFC India and Nepal, as CEO of the company, Founder & CEO Sushant Goel will undergo a nine-month handover period before transitioning into a board member role.

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11 months

🚨 Arc Exclusive Swiggy’s food-delivery CEO, Rohit Kapoor, will also manage Dineout. At $150 mn, Dineout is Swiggy’s biggest acquisition. Kapoor has been given the keys to another business just nine months after joining the unicorn. Scoop by @AditiS90

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11 months

🚨 Beauty and skincare brand VLCC to acquire men's grooming brand Ustraa The deal includes the purchase of shares and share swap by investors - Info Edge, IIFL and Wipro - who will become shareholders in VLCC

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The Arc

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1 year

🏃🏾‍♂️ SoftBank has been on an exit spree in India, raking in $1.04 billion in 18 months. Take a look at its cashouts and positions in listed unicorns Paytm, PB Fintech and Delhivery. Also, read all about the Japanese giant’s new strategy of ‘total defence’:

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10 months

🚨 Flipkart's 30,000 current and former employees are expected to get a piece of the $700 million payout as part of the ESOP buyback💰 The massive payout is being driven by the demerger of PhonePe. Details and an excerpt from the ESOP letter 👇

PhonePe split: Flipkart employees to get $700-mn payout this month | The Arc

Smartest takes on tech companies

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The Arc

@thearc_hq

11 months

🚨 Prosus has written off its entire stake in ZestMoney. It held about a 15% via PayU. In May, the founders of Zest announced that they would be stepping down from their roles following unsuccessful acquisition talks with PhonePe.

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1 year

Zomato Hyperpure's auditor has resigned, the company informed stock exchanges Reason: Zomato wants to appoint one of the bigger firms as statutory auditor

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The Arc

@thearc_hq

11 months

🚨 Prosus says that its representative - Russell Dreisenstock - has resigned from the board of Byju's (Think & Learn Private Limited) "The Company is required to file the resignation letter with the MCA in India within the required time period” Prosus spokesperson

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The Arc

@thearc_hq

1 year

🚨 Info Edge has increased the size of its two venture capital funds Singapore's DFSOG has committed Rs 211 crore across two funds 💰 It has come in as the second external LP after Temasek (MacRitchie)

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The Arc

@thearc_hq

8 months

🚨 Dunzo edges closer to $35-mn funding The grocery app, which is behind payroll and vendor bills, is getting a lifeline from Reliance, Google and others. The infusion will aid its switch from quick commerce to local commerce, reports @madhavchanchani .

After salary delays, Dunzo to raise $35 mn from Reliance, Google | The Arc

Smartest takes on tech companies

thearcweb.com

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The Arc

@thearc_hq

1 year

🕴️Phani Kishan’s appointment as Instamart boss comes at a critical time: Instamart and Blinkit are almost neck and neck in gross order value, as per HSBC’s report. Zepto and Dunzo are the other main contenders.

Inside Swiggy’s call to change Instamart leadership

Swiggy co-founder Phani Kishan will now head the quick-grocery arm. He will also continue helming the morning delivery service, SuprDaily (now called Insanely Good).

www.linkedin.com

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The Arc

@thearc_hq

2 months

Instamart and Swiggy’s IPO fate 🛵🍞🍅 As Swiggy prepares for a stock listing, its key businesses will be closely scrutinised 🔍 Analysts may pay more attention to Instamart, its big play in quick commerce, than food delivery. Here’s how the numbers stack up 🔢

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The Arc

@thearc_hq

10 months

IdeaForge’s shares pop over 90% on debut. The drone maker notched a market cap of Rs 5,398 cr. IdeaForge is among the first startups from a campus incubator to go for an IPO.

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The Arc

@thearc_hq

1 year

🚨 PB Fintech, which owns Policybazaar and Paisabazaar, reports a 95% fall in net loss to Rs 9 crore in Q4 The company said it will turn PAT positive in FY24

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The Arc

@thearc_hq

1 year

🚨Invesco halves Swiggy valuation to $5.5 bn🚨 Invesco led the $700 mn round in the Bengaluru-based company in January 2022, valuing it at $10.7 bn

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The Arc

@thearc_hq

1 year

🚨 ZestMoney’s founders - Lizzie Chapman (CEO), Priya Sharma (CFO) and Ashish Anantharaman (CTO) - are stepping down from their operating roles They will transition over the next 4 months A new management team is expected to take over

ZestMoney founders to step down after failed PhonePe deal | The Arc

Smartest takes on tech companies

thearcweb.com

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The Arc

@thearc_hq

11 months

🚨 Tanla has acquired communication services platform Valuefirst for $42 million from Nasdaq-listed Twilio The deal comes 2 years after Twilio, now undergoing a restructuring, acquired ValueFirst for close to $100 million 💰 ValueFirst had revenues of $115 million in FY23

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The Arc

@thearc_hq

7 months

🚨 RBI imposes Rs 5.39 crore fine on Paytm Payments Bank The fine has been imposed because Paytm did not complete proper KYC for companies using its services and also delayed reporting of a cyber security incident

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The Arc

@thearc_hq

1 year

🚨 The parent entity of Byju’s, Think & Learn, took out a term loan B (TLB) of $1.2 billion about 18 months ago. It must transfer an instalment of $40 million to avoid a default, according to Bloomberg. More -

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The Arc

@thearc_hq

5 months

🛑 Byju’s reveals Rs 8,300 cr loss at heated AGM Audited FY22 results were presented at the meet with shareholders. Consolidated revenues came in at Rs 5,000 cr+. The edtech faced investor ire over delays in creating systems for finance and governance.

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