C.E. Info Systems (MapmyIndia) has made some surprise announcements. Rohan Verma, the CEO and Executive Director of the Company is stepping down from the CEO position to float a new B2C Venture He however, will continue to the Non-Executive Director of MapmyIndia MapmyIndia will provide the following support to the new B2C Venture by Rohan … Read more
Along with it’s Q2 FY 25 results,. Zomato’s board has approved a QIP raise. QIP is for Rs 8,500 cr Raise is to strengthen the balance sheet As per Company – “While the business is now generating cash (vis-a-vis a loss making business at the time of IPO), the company believes that it needs to … Read more
Hyundai Motor India has obtained approval for its initial public offering from the Securities and Exchange Board of India, according to two sources familiar with the situation. Â The South Korean automaker plans to raise $3 billion at a roughly $20 billion valuation, sources previously told Reuters. This would make it the first carmaker to go … Read more
Schmooze, an AI-powered meme-based dating platform, has closed its series A round of $4 million, led by Elevation Capital. The round also saw participation from angel investors, including the founders of UltraHuman, The Souled Store, Mosaic Wellness, and Paytm. Powered by over 1 billion meme interactions, the platform will use the funding to further enhance … Read more
Zomato has launched intra-city parcel delivery app Xtreme the service will allow merchants to send and receive small parcels within the city packages can weigh up to 10 kgs with the price starting at Rs 35 aim is to leverage Zomato’s existing fleet of 3lakh+ riders for additional revenue it will compete with Swiggy’s Genie, … Read more
Lyft’s app will now feature ads when a user is booking a ride and during the trip. Its main competitor, Uber, launched video ads on several of its apps back in June. Advertisers will be able to target riders based on location, payment type, and lifestyle. The next time you take a ride with … Read more
Paytm has informed that it’s Founder MD & CEO, Vijay Shekhar Sharma (VSS) is acquiring 10.30% stake from Antfin. Stake is being acquired through a 100% foreign entity owned by VSS – Resilient Asset Management B.V. In lieu of the acquisition, Resilient is issuing Optionally Convertible Debentures (OCDs) to Antfin Post transaction – VSS’s shareholding … Read more
One way to see how private companies are faring is to look at secondary exchanges. The fallen giants are led by former fintech darling Plaid, which has plunged almost 80% in 2023. Buyers who had been sitting on the sidelines are eager to snap up bargains in battered startups. While investors can measure the value … Read more