Third Wave Coffee said it raised $43 million in a funding round led by existing investor WestBridge Capital, comprising a mix of primary and secondary capital, Creagis and other angel investors. Â The new funding will help the domestic coffee outlet chain grow in existing markets, build greater density in high-potential cities and strengthen its … Read more
Bajaj points out that the company knew early on that long-term growth in the country lay in domestic tourists and so had spent years building supply. While Airbnb does not disclose the number of listings, a company executive, who did not want to be identified, says the number of listings have grown from about 15,000 … Read more
Deepinder Goyal, the founder and Group CEO of Eternal, which runs Zomato and Blinkit, in a letter to the shareholders announced that he is stepping away from the top executive role and handing over the reigns to Albinder Dhindsa. Goyal will move to the position of Vice Chairman He said the decision is driven by … Read more
The proposed reorganization separates ownership from management. Lemon Tree (LTHL), to become a pure-play asset-light company focused on hotel management, brand & loyalty, distribution and digital services; and Fleur Hotels (FHL), a hotel ownership / leasing platform To achieve the separation, all hotel properties of the group will be transferred to FHL, currently a subsidiary … Read more
Zomato CEO Deepinder Goyal shared a fact sheet detailing the average income of the company’s delivery partners, among other details, following a recent exchange with popular YouTuber Dhruv Rathee on X (formerly Twitter). The move came after Rathee questioned the company’s pay practices and called for transparency around gig workers’ earnings, prompting Goyal to publicly … Read more
Key Highlights of the Proposed Transaction: Merger of Sapphire Foods India Limited (SFIL) with and into Devyani International Limited (DIL) through a share-swap mechanism. Swap Ratio: 177 equity shares of DIL to be issued for every 100 equity share of SFIL. This is similar to their current respective valuations and there is no real arbitrage … Read more
Swiggy and Eternal (formerly Zomato) told stock exchanges that India’s new labour codes, rolled out Friday with immediate effect, would not have any “material impact” on their business. But analysts say the math points the other way: once the mandated contributions kick in, the Code on Social Security 2020 (CoSS), levy is likely to push … Read more
In a win for the restaurant industry, Zomato has agreed to share customers’ phone numbers with eateries after seeking consent from users, the National Restaurant Association of India (NRAI) said. The restaurant industry had been at loggerheads with food delivery platforms – Zomato and Swiggy – over their refusal to share consumer data, which the … Read more