UNICORN DEFINITION
Livspace to file for domicile flip from Singapore for IPO in 2025-26
Ikea-backed Livspace is set to become the latest startup to file for flipping its domicile to India from Singapore and has secured the board¡¯s in-principle approval for the same, founder Ramakant Sharma told ET. The home decor startup plans to launch its initial public offering (IPO) by the end of 2025 or early 2026, but the timeline is subject to change.
12,847 active startups and over 120 soonicorns in Karnataka: ET Soonicorns Summit 2024 returns to Bengaluru with ¡®From Resilience to Resurgence¡¯ theme¡ªhere¡¯s why this summit matters
With the overarching theme ¡®From Resurgence to Resilience,¡¯ the ET Soonicorns Summit 2024 is poised to pave the path for strategic resurgence and sustainable recovery through the lens of ¡®Recalibrate. Rebound. Reinvent¡¯. Scheduled to take place in Bengaluru on September 20, 2024, get ready for an exciting edition dotted with power-packed sessions and speakers leading innovations in India today.
The road to resurgence: Here¡¯s why you should register for the ET Soonicorns Summit 2024 with a clarion call for startups to Recalibrate. Rebound. Reinvent
Discover how the ET Soonicorns Summit 2024 with its core theme ¡®From Resurgence to Resilience¡¯ is set to identify key trends, map the next wave of opportunities, and share solution-centric strategies for Indian startups to build upon sustainable growth metrics and chart a journey towards recovery. Here, we decode the key themes of the summit scheduled for 20 September and tell you why you should rush to register!
Zepto sees 14x surge in FY23 revenue while losses triple
The Mumbai-based company incurred a loss of Rs 1,272 crore in FY23, over three times wider than the Rs 390.4 crore posted in the previous year. The firm¡¯s total expenses jumped over six times to Rs 3,350 crore in FY23, up from the Rs 532.7 crore it spent in the previous year.
India not for the fainthearted, but worth it: Lightspeed¡¯s Bejul Somaia after Sequoia¡¯s exit
In a lengthy note posted on Twitter, he said India is not for the fainthearted, but its potential is compelling.
Edtech: M&A talks gain momentum amid a prolonged funding crunch
Even as the winter recedes from the capital, the chilly undercurrent of the funding winter was palpable at the GSV Emeritus India Summit, organised earlier this week at Gurugram, which saw participation from executives representing edtech startups and investors from across the country and overseas.
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Sanjay Arya on Morningstar unicorn index and how it can help investors
¡°The index we launched ¨C the India 25, picks up the top 25 unicorns by their market valuations. So with 25 companies, it broadly represents the whole industry or the whole marketplace and this index is going to be calculated on a daily basis as well. We have created a proprietary pricing model that looks at the last funding round and the last valuations.¡±
Unicorn up for sale; egaming policy coming soon
Just three years after it hit a valuation of $1 billion, new-age trucking logistics firm Rivigo is in deep trouble. Unable to raise funds, the startup is exploring a sale and has held talks with Flipkart or FirstCry, sources told us. We have more in the edition.
RBI¡¯s new mandate sparks confusion among fintechs; Foxconn may make EVs in India
The regulator¡¯s directive quickly sparked confusion and frustrations among fintech startups, which told us the RBI appears to be giving banks full control over innovation in the fledgling sector.
¡®Why is medium a part of MSME definition?¡¯: As inflation pushes small firms to medium, incentives run dry
Some small firms recently crossed over to the medium category as their turnover increased due to high input costs and inflationary pressures. Such firms are feeling the brunt of policies that favour smaller enterprises.
Commodity inflation a double-edged sword? Deven Choksey on how to play it
¡°Should there emerge a situation where the global investors are not being able to exit from Russia, they may be forced to exit from other emerging markets, then those funds can create further selloff in the market and that could lead to a capitulation situation in the Indian market as well.¡±
40th unicorn at the door; Dorsey blocked over Web3 trolling
The new year may be just a week away, but there might yet be time for one last startup to join the coveted club and make it 40 unicorns in a landmark 2021.
Banning all crypto unwise move: ORF report
India now has two crypto unicorns and over 350 crypto startups in what is clearly a flourishing industry.
Play-to-win and perpetuate innovation: Kris Gopalakrishnan to ILC Members
The amalgamation of India¡¯s conducive demography, a rising culture of entrepreneurialism, and expeditious digitization foreground India¡¯s potential to become a global economic leader.
Reopening trade is for real; lots of engines still to fire: Mihir Vora
¡°Everything which is travel related is opening up and that along with anything consumption led should do well including the underperforming sectors like automobiles.¡±
Pristyn eyes unicorn club; Celebs join the NFT craze
Healthcare startup Pristyn Care is in talks with investors to raise $90-110 million. If the latest funding round goes through, it will book itself a spot in India¡¯s very rapidly growing unicorn club.
Every second founder of a unicorn this year is an IITian
Every second founder of Indian startups that turned a unicorn this year is an alumnus of one of four oldest Indian Institutes of Technology. Twenty-six startups entered the unicorn club this year till end-August with a valuation of $1 billion or more.
Most unicorn founders this year are IITians
As many as 30 of the 58 founders of these are engineering graduates from the IITs of Delhi, Bombay, Kharagpur or Kanpur, according to a study conducted by EMA Partners.
Facebook¡¯s silent deal with Accenture; turning unicorns into dragons
Facebook has long had a relationship with Accenture, the global consulting group, but neither company talks about it much.
Zomato's express delivery
From Zomato's IPO debut to BlackBuck becoming the latest startup unicorn and RBI outlining its digital rupee plans, here's a quick look at the top tech news today.
Nithin Kamath has a concern about unicorn startups queuing up for IPOs
¡®It is very exciting in terms of having all these new-age businesses getting listed. It will definitely help expand the market in terms of participation¡¯
What¡¯s behind the insurtech boom?
In today's ETtech Morning Dispatch: Acko raises $200 million to become India's latest startup unicorn, Govt-Twitter spat set up escalate over distorted India map, Shuttl likely to shut down, and Quadria plans to invest $400-500 million in India.
Chargebee enters unicorn club with $125 million funding from Tiger Global, others
Chargebee plans to utilise the funds to expand its global operations and add to its partnership network.
Tiger mints another unicorn
Also in today's ETtech Top 5 newsletter: Chargebee becomes unicorn after Tiger Global funding; Mobile Premier League buys GamingMonk in online gaming and esports push; and Flipkart launches Quick hyperlocal delivery services in six cities.
Startup funding hits two-year high in Q1 at $4.2 billion
Indian startups are clearly emerging strongly from the Covid-19 induced slump in the middle of last year.
How 100 unicorns are propelling India forward
Never before has India witnessed such a broad-based upsurge of massive new businesses unconnected with old wealth, political contacts or dirty deals with public sector banks. The unicorns have raised billions of dollars from global investors keen to invest not in venerable names but newcomers with ideas capable of dominating the 21st century.
ETtech Evening Briefing on Feb 25, 2021: Govt plans to tighten online rules, experts worry
The government announced its plan to enact stricter rules for social media platforms, online news portals and streaming services. India's unicorn club saw another entrant. And Amazon's Amit Agarwal said they don't favour large sellers.
Vocal for local: Govt plans to revise definition of Indian app companies
New terms may include cos with local IP rights, most of the staff in India; industry wants foreign funding criteria out
Chinese-funded unicorns like Paytm, Ola face users' ire
Most of these mobile applications have seen over the last one week increasing comments and lowest possible ratings from consumers.
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