Freshworks m-cap crosses $13 bn; over 10% employees turn ‘crorepatis’

With the market capitalisation of Freshworks crossing over $13 billion on its debut day at Nasdaq Stock Exchange, around 500 employees or around 12 per cent of the company’s total staff strength of around 4,300 have become ‘crorepatis’ in India and more interestingly over 70 of them are below the age of 30 years.   … Read more

Nykaa IPO: first profitable unicorn, led by women, to tap public markets

India’s first women led profitable unicorn startup is going in for its initial public offering. Nykaa, the online beauty aggregator is looking to raise Rs 525 crore via fresh equity issuance. According to media reports the company intends to raise a total of Rs 4,000 crore. According to the company’s draft red herring proposal (DRHP) … Read more

Verizon selling Yahoo, AOL unit to Apollo in $5-billion deal

AOL and Yahoo are being sold again, this time to a private equity firm. Verizon will sell Verizon Media, which consists of the pioneering tech platforms, to Apollo Global Management in a $5 billion deal. Verizon said Monday that it will keep a 10 per cent stake in the new company, which will be called … 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

‘I’ve never seen it this frenzied

In the first quarter this year, U.S. startups raised $69 billion from investors—41% more than the previous record, set in the fourth quarter of 2018, according to data firm PitchBook Data Inc. The average valuation for startups at all stages also reached a new high, and more than tripled from last year to $1.6 billion … Read more

Razorpay’s valuation triples in six months on latest fundraise

Business payments and financial services startup Razorpay has raised $160 million as part of its Series E round co-led by existing investors, Singapore’s sovereign wealth fund GIC and Sequoia India, at a valuation of $3 billion. Last October, the firm had secured $100 million in a round led by GIC and Sequoia India at a … Read more