Jio is investing $200 mn into Glance. Key points to note – Glance, founded in 2019 is a subsidiary of inmobi. Glance has two platforms: Roposo – creator led live entertainment commerce Glance – live entertainment, commerce and gaming on mobile lock screen For it’s investment, Jio willl get about 17% stake in Glance, implying … Read more
Nykaa’s promoters have successfully been able to change the Article of Association (AoA) to give themselves special powers. What are the powers? As per the previous AoA, the promoter group had the right to nominate up to 50% of the directors on the board if they held in excess of 25% of the company’s paid-up … Read more
The founders Yashish Dahiya and Alok Bansal are together selling 2.3% of their stake into the Company. Key points to note – After sale, the founders’ cumulative stake will reduce from 10.33 % to 8.01% percent on a fully diluted basis. Sale will be executed on February 11, 2022 through block deal. Expected realisation from … Read more
Zomato continues to make more investments into start-ups/ emerging companies. 1. Rs 112.2 crore for 19.48% into Adonmo Private Limited Founded in 2016, Adonmo is focused on outdoor digital advertising. The Company reported a revenue of Rs 3.3 crore in FY 21. Investment by Zomato is cash consideration and values Adonmo at Rs 576 crore. … Read more
Marc Andreessen is among the biggest defenders of the prospects of Web3. Web3 is proving to be the most divisive idea in the tech sector in years. Proponents see it democratizing the internet, while critics view it as a VC plaything. Investors say there are challenges to overcome, but the adoption of Web3 could be … Read more
Micro Services aims to take on AWS. M30. The firm has launched M30, a cloud computing platform designed to challenge Amazon’s dominance. Insider got an exclusive look at the pitch deck Micro used to bring investors on board. Micro Services, a cloud computing firm founded by an ex-Googler, has raised $2 million in seed funding … Read more
Tiger Global-backed Byju’s is in talks for a U.S. listing through a deal with veteran dealmaker Michael Klein’s blank-check firm that could value the Indian edtech firm at $48 billion, a source told Reuters on Thursday. Byju’s, which offers online education and caters to all age groups, has benefited from a boom in online education … Read more
Zomato recently had invested $75 mn into Shiprocket as a part of it’s start-up investing strategy. T V Mohandad Pai (ex Infosys CFO) in a tweet raised concern that whether there is a conflict of interest in this investment by Zomato as Deependier Goyal (Founder CEO) had previously invested into Shiprocket in his personal capacity. … Read more
Social media giant Twitter has acquired Quill that experts suggest might let Twitter DMs better compete with other messaging apps. As per GSM Arena, this new acquisition might result in Twitter offering more robust messaging features. For the unversed, Quill is a messaging app for collaboration and communication with teams, one that competed with other … Read more