Lenskart, the $6.1 billion eyewear giant gearing up for its IPO, has just made a major move in its boardroom — and it’s raising eyebrows across the Indian startup world.
SoftBank’s Sumer Juneja has officially stepped down from the board, while two new heavy-hitters are stepping in: Ashish Kashyap, founder of INDmoney and former CEO of Ibibo Group, and Sayali Karanjkar, co-founder of digital…
Paytm’s Big Move: Selling Stake in PayPay to Boost Cash Reserves
In a significant business decision, Paytm, India’s leading fintech company, is selling its stake in the Japan-based PayPay Corporation to SoftBank Group for a whopping $250 million (over Rs 2,000 crore). The move is part of Paytm’s strategy to streamline its investments and strengthen its balance sheet. The sale will likely see…
Whatfix, a leading digital adoption platform, has successfully raised $900 million in its Series E funding round, spearheaded by private equity giant Warburg Pincus, with additional support from existing investor SoftBank Vision Fund 2. This new capital is set to fuel the company’s expansion into markets across the US, EMEA (Europe, the Middle East, and Africa), and APAC (Asia-Pacific)…
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…
A recent profile in the Financial Times highlights SoftBank CEO Masayoshi Son’s journey from a low point to a potential comeback. Once feeling disheartened by the losses from the Vision Fund’s investments, such as WeWork, Son candidly reflected on his past, admitting, “I have done nothing I can be proud of.”
Following a series of high-profile failures and a significant drop in SoftBank’s…
SoftBank Group, based in Japan, has acquired Graphcore, a prominent player in the AI chip market, in a move expected to redefine the landscape of artificial intelligence hardware. The acquisition, finalized for an undisclosed sum, resolves uncertainty surrounding Graphcore’s future and positions it to challenge industry leaders like Nvidia.
Graphcore, once valued at $2.77 billion by the end of…
Business to business e-commerce stage OfBusiness has raised a new round from SoftBank Vision Fund II and existing investor Alpha Wave Incubation. This is the second investment round for the Gurugram-based startup in 2021 which scooped up $110 million in a round led by Alpha Wave in April.
OfBusiness has allotted 41,675 of Series E CCPS at a face value of Rs 10 and a premium of Rs 28,3585.11 per…
OYO Hotels and Homes Ltd CEO Ritesh Agarwal, who is one of the youngest billionaires in the nation, has shared a piece of advice for the entrepreneurs on Tuesday.
The 27-year-old Agarwal, who started Oyo Rooms in 2013, said that around 80% of the venture business people rejected his organization in the underlying days.
Therefore, Agarwal said that “As an entrepreneur, you will face rejection…
Paytm has been preparing for its first sale of stock likely in the following three-four months and the computerized installments firm has now begun compensating its current and previous representatives through worker stock proprietorship plan.
The leading group of Paytm has passed an uncommon goal to apportion 47,042 value shares vested under its ESOP Scheme 2008 and ESOP Scheme 2019 to almost 60…
Present day banking tech organization Zeta has brought $250 million up in its Series C round from SoftBank Vision Fund 2.
As per the Mumbai-based organization, it has been esteemed at $1.4 billion and entered the pined for club of unicorns. Zeta has become the fourteenth startup to cross the valuation of $1 billion of every 2021. A week ago, B2B mechanical products commercial center Moglix…
