India a tough market to operate: Zomato’s Deepinder Goyal

Zomato co-founder Deepinder Goyal said India is a tough market to operate in but the company will not focus on short term profits at the cost of long term success of the food delivery company. “India is a tough market to operate in, but if you are building to succeed in India, you are already … Read more

SoftBank-backed Better to go public in $7.7 billion SPAC deal

SoftBank Group Corp-backed Better HoldCo said on Tuesday it will go public through a merger with a blank-check firm sponsored by investment firm Novator Capital, valuing the mortgage startup at $7.7 billion. As part of the deal with Aurora Acquisition Corp, SoftBank will invest $1.5 billion, giving Better a pre-money valuation of $6.9 billion. Novator … Read more

Vaccitech, startup behind Oxford Covid vaccine tech, falls 20% in Nasdaq debut

American depositary shares of Vaccitech fell nearly 20% in their Nasdaq debut on Friday, giving the co-inventor of the Covid-19 vaccine developed by AstraZeneca Plc and Oxford University a market value of about $464 million. The biotech firm’s shares opened at $13.62, below the initial public offering (IPO) price of $17 apiece for 6.5 million … Read more

Zomato files papers for ₹8,250 crore IPO

Zomato said revenue from operations rose from ₹466 crore in FY18 to ₹2,604 crore in FY20. Food delivery app Zomato Ltd., backed by China’s Ant Group, on Wednesday filed a draft red herring prospectus (DRHP) with the Securities & Exchange Board of India (SEBI) to raise ₹8,250 crore. The IPO would comprise fresh issue of … Read more

Grab to unveil world’s biggest SPAC merger, valued at nearly $40 bn: report

Southeast Asia’s biggest ride-hailing and food delivery firm Grab Holdings will announce as early as Tuesday a merger with U.S.-based Altimeter that will value Grab at nearly $40 billion and lead to a public listing, four people told Reuters. The merger, which will be the biggest blank-check company deal ever, underscores the frenzy on Wall … Read more

ByteDance valued at $250 billion in private trades

Shares of ByteDance Ltd., the Chinese parent of hit video app TikTok, are trading at a valuation of more than $250 billion in the secondary market, according to people familiar with the matter. The Beijing-based company’s value has surged in recent weeks as investors gain confidence in the business and founder Zhang Yiming weighs options … Read more

IPO-bound Delhivery sees exit of 2 co-founders

Two of the co-founders of new-age logistics major Delhivery have left the firm just as the startup is readying for its initial public offering (IPO), two people aware of the matter said. Bhavesh Manglani (top) and Mohit Tandon, two of the five original co-founders of Delhivery, have ‘stepped aside’ from day-to-day operations. They have also … Read more

Analysts say $35 billion AI startup’s UiPath’s pending IPO will be a monster hit if it can help companies automate post-COVID-19

The company, which automates mundane office tasks with robotic software, filed Securities Exchange Commission paperwork on Friday to sell stock on the New York Stock Exchange under the ticker symbol PATH. More than three-dozen investors – including Accel Partners, CapitalG (formerly Google Capital), Sequoia Capital, and Kleiner Perkins – have put nearly $2 billion into … Read more