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Gaurav Munjal wants to save Unacademy by doing that very thing he once ‘hated’

Unacademy changes its own DNA for its offline centres to do well to survive the edtech downturn

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Lenskart’s CEO and chief people officer Peyush Bansal has a people problem

Bansal’s managerial style has purportedly led to several high-level exits and unfilled senior positions at the $4.5 billion eyewear retailer. And yet, he is the one tasked with fixing Lenskart’s talent quandary

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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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What the turn in Tiger Global’s fortunes means for Indian startups

Though younger startups are set to gain from Tiger Global’s smaller cheques and early-stage bets in India, they are wary of working with the investment giant

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A $4.7B exit wound: why Prosus pulled the plug on buying BillDesk

The Dutch investor’s decision to call off a merger of India’s largest payments company with its fintech arm, PayU, had more than valuation at the root of it

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What SoftBank’s US$700M valuation cut means for OYO, its investors, employees

With the venture-capital giant’s reported write-down, the hospitality startup’s narrative of a post-Covid rebound faces challenges ahead of its IPO

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Out of options, Unacademy forces teachers to sell courses

With slowing growth and a funding crunch, edtechs like Unacademy and Vedantu have made tutors their new sales force. But the pressure to create viral videos and the fear of not meeting targets are too much to handle for many

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$1bn lender Oxyzo’s long stride out of $5bn parent OfBusiness’ shadow

Being birthed in OfBusiness’ B2B ecosystem got the SME financier to a $1bn valuation. But now, Oxyzo wants to diversify its product range and borrower base, only to wade into a chaotic lending landscape

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Shopsy: Flipkart’s pricey social commerce bet on India’s hinterland users

Shopsy was Flipkart’s answer to social commerce unicorn Meesho’s entry into its territory. But in its attempt to draw in low-income, tier-2-and-beyond users, the Indian e-commerce giant is burning cash faster than it can say “monetisation”

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Polygon needs it, investors love it, but blockchain games underwhelm users

Blockchain firm Polygon is betting big on blockchain-based games, or GameFi. It earmarked $200 million to develop the space, and has hired a host of gaming industry veterans like Electronic Arts and YouTube. Users, however, say that beyond the potential to earn, blockchain-based gaming is both cumbersome and dull

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Why SoftBank wants in on OTP killer Juspay

Nine-year-old Juspay has been quietly solving digital payment-related issues, focussing on its product over valuations. But payments margins are razor-thin—Juspay’s revenues touched $10 million in 2021. SoftBank’s $50 million backing could be the spark it needs

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In a Rush: Hike pins its survival on real money gaming

It's been a miserable few years for Hike. Once harbouring ambitions to rival WhatsApp, it has spent the last few years in the wilderness, experimenting with different avatars to rediscover its magic. With Rush, its real money gaming app, it finally has a monetisation strategy and a new lease on life. But is this enough to finally arrest Hike's slide into irrelevance?

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Paytm IPO tells, and tells a lot, but doesn’t show

Seeking an audacious valuation of $25-30 billion, the IPO is Paytm’s chance to showcase its growth. But founder shareholding patterns, a maze of related party transactions, and the lack of segment reporting leaves one with more questions than answers

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The return of the dragon—SoftBank’s role in a new India

Three years after exiting Flipkart, SoftBank is back in India with a bang. Just in 2021, it has created four unicorns. While this sounds like business as usual for the mammoth VC, this is a new SoftBank and a new India

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Buying SoftBank’s energy unit not enough to recharge Adani Green’s shine

The acquisition of SoftBank’s Indian clean energy business for $3.5 billion has cemented Adani Green’s top dog status. But with 80% of its capacity yet to become operational and its largest project hanging fire, continuing its dream run is bound to be hard

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The non-obvious takeaways from Zomato’s IPO prospectus

The pandemic was meant to be boom time for food delivery giant Zomato. However, while average order value has spiked and contribution margins have turned positive, a closer look at the numbers reveals a company with falling revenue, shaky unit economics, and no clear path to profitability. Could Zomato's public listing dream turn into a nightmare?

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Piecing together SoftBank’s US$300M social commerce bet on Meesho

Unicorn status in six years and a 3X jump in valuation in two—there’s something about Meesho and social commerce that has gotten SoftBank to hang its hat on. Meesho’s numbers, however, tell a different tale

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Kalaari Capital’s US$200 million Faustian deal with Reliance

The announcement that Jio Platforms will anchor Kalaari’s new fund is an oddity. Jio is too big and powerful to really need Kalaari, and the latter is well past its prime. What explains the odd marriage?

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SoftBank bet big on harnessing the sun. Then it got scorched

In 2015, SoftBank said it would lead a venture that would spend $20 billion to build the biggest solar power portfolio India had ever seen. Two years ago, its CEO promised free electricity to India. Today, SoftBank’s Indian solar plans have gone up in smoke

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Why Tiger Global is (once again) India’s most important VC

Tiger Global once changed the funding landscape in India by “breaking the mould”—resetting expectations about amounts, valuations, and ambitions. With India’s relationship with China eroding and SoftBank’s influence waning, can it repeat its exploits?

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India’s co-working spaces are open for (big) business

Co-working companies’ bet on enterprises—and consequently, enclosed private offices—may have given them a slight edge in weathering the current storm. But they still need to make lasting changes to their business to bounce back

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Can OYO save Ritesh Agarwal?

The Covid-19 pandemic gives OYO a chance to reset its business. The real question, though, is whether it will be enough for the company to save its CEO

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PolicyBazaar group set to hand DocPrime reins to new investor

A new investor looks set to clinch majority control over virtual doctor consultation platform DocPrime. Announced just after SoftBank invested $200 million into the company, what made the PolicyBazaar group sour on its next big hope?

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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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OYO’s Battle of the Bulge

OYO’s latest audited financials show a company struggling both home and away. These numbers highlight the long and winding path to profitability OYO must walk

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The Interview: Hari Menon on bucking trends & BigBasket’s bigger plans

How did a bunch of 1999-vintage retail veterans become the largest players in India’s most lucrative e-commerce space, groceries?

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The charge of India’s unicorn brigade

From none in 2010 to 28 as we enter 2020, India's stable of unicorns has grown to become the third largest in the world—beaten only by China and the US

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OYO’s got five big problems. And WeWork is barely one

OYO has submitted a valuation report to RoC as part of its long-in-the-making $1.5-billion funding round. While it is yet to formally file its financial statements for the last financial year, the report reveals a fair bit. The clock is ticking for OYO

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Paytm wants to hit escape velocity

India’s largest payments company is working furiously to escape UPI disruption, transient users, growing losses, unicorn narratives and country risk

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Show me the money: 5 data points reveal what attracts VCs in India

Venture capitalists often let their investments do the talking. And talk they do. From $100-million Series A rounds to $500+ million funding rounds, India has had enough and more investor interest and shifting investment patterns of late. We decided to map that interest with data from the last three years

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RedDoorz: The unlikely David to OYO’s Goliath in Southeast Asia

After years of growing in the shadows, budget hotel aggregator RedDoorz made a statement of intent by raising $115 million in 2019. Now, as it looks to conquer SE Asia, it’s on a collision course with OYO.

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Zomato faces dark clouds with a Gold lining

In just two years, Zomato has gone from a company claiming profitability to one that is losing hundreds of millions of dollars annually. How and why did it get here? What lies in the future?

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Grab plays up social impact as SoftBank unicorns face a reckoning

Battling Uber—the world’s ride-hailing leader—gave Grab a valuation and a cause investors could get behind. But what happens when the battle ends? Grab is the biggest fish in its pond and now it is set on wooing regulators and governments at a time of crisis for unicorns focused on growth rather than sustainability

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The SoftBank fault line

With WeWork’s planned IPO seemingly doomed—at least for the foreseeable future—it’s time to look at how SoftBank’s big Indian bets are positioned for the future

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PEs are recoding the internet business double helix

As private equity funding floods India’s tech startup ecosystem, it’s transforming everything from company to VC behaviour

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B2B in vogue as Zilingo looks to enter the unicorn club in style

From a consumer-facing e-commerce platform, Zilingo is realising its true potential by moving away from its roots towards seller services

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Of SoftBank, Amazon and AI – Engineer.ai’s tangled web

A recent report claimed that Indian startup Engineer.ai was making exaggerated claims about its AI capabilities. It turns out this was just the tip of the iceberg

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Distribution or not? PharmEasy joins hunt for a USP for investment

Rumour has it that Naspers, SoftBank and Temasek, all want to invest in the Indian e-pharmacy PharmEasy. $100 million or more. Because PharmEasy mirrors one of the oldest and the largest e-pharmacies in the world—111 Inc. But following 111 Inc all the way may not be the best idea, and other Indian e-pharmacies have made a mental note of it

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Ola-SoftBank on its tail; Savaari straps in for the long haul

The intercity cab segment is not for everyone. And Ola-Uber are painfully aware of this. With Savaari’s experience and newfound profitability, SoftBank’s interest can’t be too far behind

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Go-Jek and Grab are turning Southeast Asia’s startup ecosystem tribal

If you thought Uber’s exit from SE Asia marked the end of the region’s ride-hailing battle, think again. Post-Uber, Grab and Go-Jek are locked in a battle that has parallels with the way Tencent and Alibaba dominate China’s tech scene

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