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Can Girish Mathrubootham spot the next Girish Mathrubootham?

The Freshworks founder switched roles to be a venture capitalist at Together Fund. Here, with his partner Manav Garg, he wants to find a $100 billion Indian AI firm

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This $800M Indian SaaS firm is winning over Microsoft and Cisco against global rival Walkme

Digital-adoption platforms are set for exponential growth soon and Whatfix is doing whatever it can to outdo its rivals

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Waycool’s pivot and the false promise of agritech

The US$700 million-worth startup wanted to reshape the food supply chain. But it increasingly looks like an FMCG company

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How an Indonesian SaaS startup’s destiny may be rewritten by Sequoia India

Lummo raised nearly US$130 million in venture capital in over three years but couldn’t generate substantial revenues. Unable to find a fit-for-market product, it is chewing over two options to save its face

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How Freshworks is going from being a ‘people-first’ to a ‘profits-first’ company

Freshworks wanted to achieve US$1 billion in recurring revenue by 2023-24. But it's only halfway there. Meanwhile, a tech-sector slowdown and a pursuit of profits is seeing the SaaS company painstakingly change it’s employee-friendly DNA

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Torn between growing competition and Tatas’ ambitions, $3.2B BigBasket is at a crossroads

The 11-year-old e-grocer is fighting off challenges on its home turf from the likes of Swiggy Instamart, even as it takes on new roles and responsibilities in the Tata universe

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The Indonesian locals lining up for a bite of AWS, Azure, GCP’s cloud pie

Indonesia wants SMEs and government agencies to adopt cloud services. Up against global giants, local companies like the Bukalapak-backed IDCloudhost are looking for a sweet spot to break into the big leagues

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Shopify, Lummo, and why e-commerce SaaS refuses to die in SEA

Southeast Asia has 70 million merchants that could benefit from having an online storefront they can manage personally. But the companies offering this service, from local startups like Lummo to global giant Shopify, have struggled to win over the region. It’s not game over yet, though

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The product-market-fit hole in Unacademy’s SaaS offering, Cohesive

After multiple acquisitions and business models, edtech giant Unacademy has ventured into SaaS. This experiment leads to more questions than customers, and it will be difficult for Unacademy to pass this test

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The Smokescreen acquisition and India’s long wait for a cybersecurity unicorn

When deception tech startup Smokescreen was acquired by US cybersecurity leviathan Zscaler in mid-2021, it went largely unnoticed. Smokescreen’s story, however, perfectly encapsulates the struggle of Indian cybersecurity firms to break out of anonymity and into the unicorn club

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HDFC rescue mission gives wings to Zeta’s banking tech ambitions

Bagging India's largest private lender as a client has boosted Zeta's ambitions and helped it bag funding. But what the firm promised HDFC Bank is yet to be delivered. Success could be the proof-of-concept for Zeta's ambitions but failure could hobble its flight

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Squeezed by startups and Covid, Indiamart goes shopping

With India’s B2B e-commerce space birthing a host of aggressive unicorns, 25-year-old Indiamart faces an uphill battle to stay relevant. To compete with the Zetwerks, Udaans, and Moglixs of the world, it has embarked on an aggressive investment and acquisition spree to move beyond the simple lead generation business model that got it this far

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The Interview: Mapping the world with NextBillion.ai’s Ajay Bulusu

After helping build the mapping team of recently-listed Grab from scratch from 2017 to 2019, Ajay Bulusu decided to strike out on his own. In February 2020, with two fellow Grabbers—Shaolin Zheng and Gaurav Bubna—he launched enterprise-focused mapping solutions startup NextBillion.ai

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From Hotmail.com to Ally.io: how startup acquisitions have evolved in two decades

Two companies, same price tag—US$500 million, acquired by the same company—Microsoft. And yet, while Hotmail’s was a much-talked-about acquisition, Ally.io’s flew under the radar. Microsoft has changed in the intervening 20 years, but so has the future of work as we know it

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From SBI to Salesforce: Arundhati Bhattacharya’s unlikely SaaS voyage

Arundhati Bhattacharya spearheaded the digital transformation for India’s largest public sector bank, SBI. She’s now trying to pull off an audacious US$1 billion revenue dream for Salesforce India

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Fresh off the SaaS boat: tracing Girish Mathrubootham’s journey from initial public appearance to initial public offering

When Freshworks goes public in the US later this month, it’ll be the first Indian SaaS company to do so. Girish Mathrubootham set sail on this decade-long journey by “dreaming in instalments”, and in doing so, shaped India’s SaaS ecosystem

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The 100X club: why Postman merits a triple-digit valuation multiple

Postman’s recent fundraise valued it at a mammoth $5.6 billion, 100X its annual recurring revenue. But the steep valuation, which helped it become India’s highest valued SaaS startup, is not just due to the plentiful capital in the market

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CXA’s insurtech revolution risks fizzling out

Once Asia’s fastest growing startup, Singapore-based insurance business CXA seems caught in a downward spiral. Having laid off employees and sold its brokerage business, CXA must now script an unlikely turnaround

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The Interview: Postman’s Ankit Sobti on how API is eating software

APIs may have emerged as a critical part of the software ecosystem lately, but SaaS unicorn Postman—which ratcheted up half a million users even before the company was incorporated—was one of the first to recognise their potential

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Exotel’s US$5.4 million Series B—an unusual startup funding story

The traditional funding playbook for SaaS startups is to raise big, raise early and raise often. Exotel, an Indian cloud telephony startup, didn’t follow these rules but managed to build a profitable business with a US$16.5 million topline. Eight years after a small Series A, it decided to raise funding again

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‘The Uber of wellness’: How Zenoti became India’s first vertical SaaS unicorn

India now has five Saas unicorns, but Zenoti is the only company offering its services solely to the narrow wellness vertical. To get there, it had to put its market size, valuation, and unit economics to work—despite the India market contributing only single digits to its business

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Ashok Varma—the life and death of a startup founder

Not all startup success is of the unicorn kind, nor every failure riches-to-rags. Sometimes the highs are modest but impressive, and the lows a reminder that valuations and exits count for little in the larger scheme of things

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How Chargebee survived (and thrived) against a behemoth like Stripe

The SaaS startup that offers a subscription billing solution raised $55 million in the middle of a pandemic. It’s up against a $36-billion global payments giant. But they’re not just competitors

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The Interview: Capillary’s Aneesh Reddy on profitability and defying funding gravity

Twelve-year-old Capillary Technologies raised too much, too soon. And despite success in India and Southeast Asia, it had to shut down its US operations for want of product-market fit. Founder and CEO Aneesh Reddy tells us how the company learnt to balance growth with profitability

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Khatabook’s free-now, monetise-later fundraising hack

The story of how a Series B-funded startup with a simple bookkeeping app got valued at nearly $300 million in just 18 months of its existence

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How Postman delivered a US$2 billion valuation

API platform Postman has become India’s fourth SaaS unicorn just six years after incorporation. At the heart of its success is understanding and making what people want

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Covid-19’s impact on startups: Black Swan or something else?

There’s a palpable sense of fear following Covid-19. Businesses are spending less. VCs are waiting and watching. Startups have reported drops in their toplines ranging from 5% to 50% in under a week

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Startup school to SaaS: Binny Bansal’s xto10x stepping stone

For his second act, erstwhile Flipkart co-founder and newly-minted billionaire, Binny Bansal didn’t choose investing or a new consumer startup. Instead, he set up xto10x, a school for growth-stage startups in India. This school, though, lays the foundation for a SaaS company

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Passing the IPO rubicon—The importance of Slack’s public offering

As Slack goes from a tiny speck to a public listing, it could well be the most important IPO of our time

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Measuring Mettl’s mettle: The anatomy of a startup exit

Mettl, a SaaS startup operating in the HR technology space, was recently acquired for by Mercer, a subsidiary of professional services firm Marsh and McLennan. For $40 million. Doesn't sound like much, right? Well, don't go by its face value

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Mobisy: The algorithmic jugaad company that refuses to die

Lalit Bhise has started, shut down, restarted and pivoted Mobisy many times since 2010. Will its recent $3.5 million venture round prove to be the rocket fuel it needed?

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No exit wounds: Minjar parlays $2-million funding into a $50-million acquisition

In a world dominated by funding shenanigans and unicorn obsessions, Vijay Rayapati of Minjar shows us a different template for startup success

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Dropbox: SaaS lessons from a revenue unicorn

Dropbox, the popular file-sharing application, has just filed its S-1 document as a precursor to going public. What can Indian SaaS startups learn from this?

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Zarget’s journey from VC magnet to acquisition target

The intriguing story of a young SaaS company that had the nation’s top venture capital firms chasing it for an investment. The story of its short and eventful journey towards an acquisition by Freshworks

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