BharatPe, the rising star in the fintech world, is making headlines for all the right reasons! The company has reported a significant decline in its losses during the first nine months of the current financial year, and the latest updates show that it’s on the fast track to profitability. Let’s dive into the numbers and understand why BharatPe’s journey from losses to gains is a story…
Introduction: The race for dominance in India’s fast-growing ride-hailing market just got even more exciting! Rapido, the popular two-wheeler and three-wheeler ride-hailing platform, has unveiled bold plans to expand its operations to 500 cities across India. This marks a massive leap from its current footprint of 120 cities. With $200 million in fresh funding secured just months ago, the…
In a massive move that could redefine the global gaming landscape, Nazara Technologies, India’s only publicly-listed gaming and esports company, has raised a staggering Rs 495 crore (around $60 million) from Axana Estates LLP, a firm led by high-profile investors Arpit Khandelwal and Mithun Sacheti. This bold investment is set to help Nazara ramp up its operations and expand its global footprint…
Oyo’s Valuation Soars to $4.6 Billion After Nuvama Wealth Buys Rs 100 Crore Stake
In a significant development for India’s leading hospitality giant, Oyo, the company’s valuation has reached an impressive $4.6 billion following a major investment. Nuvama Wealth and Investment Limited has acquired a stake worth Rs 100 crore in Oravel Stays Ltd (the parent company of Oyo) at Rs 53 per share in…
Mumbai-based Nazara Technologies, a leading player in the gaming and sports media sector, has successfully raised Rs 855 crore (about $100 million) in a funding round aimed at supporting its global expansion and acquisition strategy. This move is set to propel the company further into the competitive gaming industry, while providing the necessary resources for strategic growth and market…
Yubi, formerly known as CredAvenue, is making waves in the financial technology sector, showcasing impressive growth and strategic improvements in its financial performance for the fiscal year 2023-24 (FY24). The company, which operates as a debt platform for enterprises, banks, and fintech firms, has reported a 47.6% growth in its revenue from operations, reaching Rs 484 crore. At the same time…
CarTrade Tech Reports Strong Financial Performance
CarTrade Tech, a leading online automobile marketplace, has seen its share price soar by 14% following a remarkable 50.5% increase in net profit for the fourth quarter of FY24. The company’s net profit reached ₹22.51 crore, a significant jump from ₹14.95 crore in the same quarter last year.
Revenue and Operational Growth
The company’s…
Introduction:In a surprising turn of events, Jayant Chauhan, the Chief Product and Technology Officer at Mamaearth’s parent company, Honasa Consumer Limited, has announced his resignation. Set to leave by November 30, 2024, Chauhan cites “personal reasons” for his decision.
Why Did He Resign?Mamaearth shared the news in a stock exchange filing, emphasizing that Chauhan’s departure is due…
Bengaluru-based quick-commerce platform Swiggy has received approval from the Securities and Exchange Board of India (SEBI) for its proposed $1.25 billion Initial Public Offering (IPO). According to reports from the Economic Times, Swiggy filed draft papers for the IPO using the confidential route back in April.
Following this approval, Swiggy must submit an updated draft red herring prospectus…
In a significant move to bolster its presence in the U.S. hospitality market, OYO has announced its acquisition of G6 Hospitality, the parent company of the well-known Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million in an all-cash transaction. The deal is anticipated to close in the fourth quarter of 2024, pending customary closing conditions.
This acquisition positions…
