Manu P Toms

Executive Editor, ET Prime

I track the internet economy and venture capital. In my most recent role, at News Corp VCCircle, I led a team of reporters chasing fundraising, mergers and acquisitions, top level exits, and shutdown ...

I track the internet economy and venture capital. In my most recent role, at News Corp VCCircle, I led a team of reporters chasing fundraising, mergers and acquisitions, top level exits, and shutdowns in India’s bustling startup ecosystem. The way the new economy is redefining everything from commerce to transport fascinates me. I previously tracked large corporations, automotive, and IT for Hindustan Times and the Hindu Business Line. After a decade in business journalism, I remain a mystified but diligent student of the intricacies of business, while secretly cheerleading for the empowerment potential of enterprise. What keeps my spirits high is a good story, a long run, or a delightful conversation.

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Stories by the author

• From setbacks to second wind, what next for Ola and Bhavish Aggarwal?

  
  12 Apr 2026 09:28 AM IST
• Bajaj Finserv plans AI-only fund, direct bets in concert: Sanjiv Bajaj, Chairman & MD

  
  30 Mar 2026 06:00 AM IST

• Private Equity and Venture Capital

  How an INR5 snack made Haldiram’s, Balaji private equity darlings

  
  10 mins read18 Feb 2026

• Venture capital

  How SoftBank, Prosus quietly changed their India playbook

  
  7 mins read11 Feb 2026

• Taxation

  Why Tiger Global tax verdict made every VC squirm

  
  11 mins read19 Jan 2026

• Tech and Gadgets

  What Paytm, Ola and FirstCry stumbles say about founder hubris of conglomerate play

  
  10 mins read13 Jan 2026

• Politics

  Are Kitex’s Jacobs stalling after 10 yrs professional politics?

  
  10 mins read12 Jan 2026

• Under the lens

  How Rahul Narvekar sold a startup dream, but delivered a nightmare

  
  13 mins read24 Dec 2025

• Markets

  Meesho is Aam Aadmi's Amazon, will its IPO be as good for investors?

  
  11 mins read3 Dec 2025

• IPO/Secondary Market

  You bought IPOs of loss makers; check out what kind of companies are lining up

  
  6 mins read28 Nov 2025

• Ed-tech

  How friendship plays out in billionaires Pai and Screwvala battle for bankrupt Byju's

  
  7 mins read18 Nov 2025

• Ed-tech

  PhysicsWallah IPO: Edtech cos have burnt investors in the past, what will this do?

  
  10 mins read13 Nov 2025

• Investing

  Groww = Angel One+ IIFL Capital + Nuvama. Should you bid?

  
  8 mins read4 Nov 2025

• Investing

  Why investors are angry over Lenskart IPO?

  
  5 mins read31 Oct 2025

• Electric vehicles

  Stuttering Ola: Can energy storage venture offset struggles in scooter?

  
  5 mins read30 Oct 2025

• Disputes

  Bira 91 – From challenging king of good times to fight for survival

  
  4 mins read17 Oct 2025

• Digital economy

  ONDC, swadeshi rival to Amazon, hits a bump. Can this Paytm executive revive its fortunes?

  
  7 mins read17 Oct 2025

• Strategy

  Inside Amazon’s twin-track strategy to home-deliver grocery

  
  7 mins read7 Oct 2025

• Investing

  INR10 lakh crore value unlocked. Who made the most of startup IPOs?

  
  9 mins read25 Sep 2025

• Policy and regulations

  Trump’s H1-B shock was short-lived but it’s just a sample

  
  6 mins read20 Sep 2025

• Artificial intelligence

  Aggarwal aspired to rival Amazon, Google, OpenAI; now he must ensure Krutrim’s survival

  
  8 mins read18 Sep 2025
• Arm eyes tieup with India to widen AI tech reach

  
  17 Sep 2025 06:44 AM IST

• Strategy

  The foresight of Peyush Bansal made Lenskart IPO-ready. What next?

  
  9 mins read10 Sep 2025

• Strategy

  Swiggy, Tencent backer Prosus gets Rajinikanth fan to script India AI play

  
  7 mins read20 Aug 2025
• AI isn't the only culprit: GCCs in the spotlight in India's IT layoff story

  
  10 Aug 2025 08:49 AM IST

• Investing

  Zomato delivered, but did the other listed unicorns?

  
  6 mins read31 Jul 2025

• E-commerce

  Amazon is making stealthy moves in healthcare, here’s why

  
  7 mins read23 Jul 2025

• People

  Leadership shakeups cloud Ola Electric’s revival attempts

  
  6 mins read16 Jul 2025

• People

  Rumblings at the top of Ola Electric

  
  3 mins read15 Jul 2025

• Strategy

  Markets need to see more than profits from Oyo

  
  9 mins read10 Jul 2025

• E-commerce

  Zepto has slowed, and Aadit Palicha needs more than a big fund raise to fix it

  
  8 mins read30 Jun 2025

• Auto

  The bike taxi dreams of Rapido, Uber, and Ola just got a jolt. But they’re winning public favour

  
  9 mins read24 Jun 2025

• Interviews

  Aadit Palicha on Zepto dark store raid, dark patterns, and IPO

  
  10 mins read17 Jun 2025
• HSBC plans venture debt fund for Indian startups

  
  05 Jun 2025 06:16 AM IST

• Venture capital

  HSBC’s next move could shake up India’s venture debt play

  
  5 mins read5 Jun 2025

• Auto

  How Uber came back from the brink to dislodge Ola

  
  9 mins read2 Jun 2025

• Venture capital

  ET Prime Unicorn 100: Growth slowed for India’s leading startups

  
  1 min read27 May 2025

• Venture capital

  ET Prime Unicorn 100: A fifth of Indian unicorns saw revenue decline

  
  5 mins read27 May 2025
• New pope has a Kerala headache as schism widens at Syro Malabar Church

  
  17 May 2025 11:01 PM IST

• E-commerce

  Despite losing market share, why BigBasket is still a good bet

  
  8 mins read12 May 2025

• Under the lens

  How the BluSmart fiasco puts BP Ventures in a bind

  
  6 mins read21 Apr 2025

• Venture capital

  We've generated USD3.6 billion in cash exits in 5 years: Shailendra Singh, Peak XV

  
  11 mins read15 Apr 2025

• Under the lens

  How February sales figures created a credibility crisis for Ola Electric

  
  6 mins read10 Apr 2025

• Auto

  A full-blown crisis engulfs Gensol, Blusmart

  
  10 mins read2 Apr 2025

• Under the lens

  Ola Electric settled with Rosmerta, but raids, notices put the co under intense scrutiny

  
  9 mins read21 Mar 2025

• Strategy

  Inside IPO-bound Ola’s revenue model shift and lower take rate for cab rides

  
  8 mins read17 Mar 2025

• E-commerce

  Amazon's secret weapon against Blinkit, Zepto and Instamart in Q-commerce race

  
  7 mins read4 Mar 2025

• Strategy

  Why Uber gives up commission revenue on autorickshaw rides

  
  5 mins read20 Feb 2025