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ZESTMONEY BYJUS
Amazon to acquire fintech lending startup Axio in a $200 million all-cash dealAxio announced in a blog post that it had signed an agreement with Amazon for a proposed acquisition in December, following the successful ...- Prosus writes off investment in Byju's marking $493 million lossProsus writes off 9.6% stake in Byju's worth $493 million due to value decrease as per HSBC note. Also marks investment in Primrose Hill (Z...
- No NCLT stay on Byju's Friday EGM; reality check for laid-off startup CXOsFour investors — led by Prosus — moved the NCLT, seeking a stay on the planned EGM to effectively block the rights issue. The matter will n...
- Pool of ‘unemployed CXOs’ grows as old firms refuse to match startup salariesSeveral CXOs laid off by startups are struggling to find new roles as traditional companies are unwilling to hire them at the inflated sala...
- Govt may tweak rules for AI firms, LLMs; FY23 financials for Unacademy, MyntraThe amendments, to be notified soon by the IT ministry, could mandate that platforms that use artificially intelligent algorithms or langua...
- FY23 earnings for Unacademy, Myntra; Union Bank staff spurn digital currency perksFY23 results for Myntra, ZestMoney, Curefoods, Unacademy, Sugar Cosmetics, and Kapiva presented a mixed picture on Wednesday, with surging ...
- Funding in Indian startups sinks to $7 billion, lowest since 2017Investments till date at $7 billion for 2023; Oct-Dec least funded quarter since July-Sept 2016, show data
- Startups’ annus horribilis; and other top tech stories this weekIndian startups are closing 2023 with a cloud of uncertainty looming large over them.
- Byju’s CEO says will tide over crisis in 45-60 days; BNPL startup ZestMoney to shut downAmid the ongoing cash crunch at Byju’s, founder and CEO Byju Raveendran told senior executives that he is aiming to address the crisis over...
- Byju’s term loan gets more expensive; MPL lays off 350 post GST hitByju's quest to settle the $1.2 billion TLB feud might come at a steeper price. The embattled edtech firm might have to pony up an addition...
- Till debt do us part: will startups go the PharmEasy way, and other top tech & startup stories this weekThis week’s ETtech newsbreak on PharmEasy going for a rights issue at a price 90% lower than its peak valuation of $5.6 billion to repay de...
- Rajeev Misra’s $7 billion fund eyes more India play; SRK may say bye to Byju’sIt's been exactly a year since Rajeev Misra stepped back as the top boss of Japanese multi-billion dollar conglomerate SoftBank’s tech-focu...
- The unbooming of crypto boom and other top tech & startup stories this weekBy calling out the widespread adoption of private crypto currencies as a risk to monetary stability, the RBI has indicated to the market th...
- Expect further corrections in startup valuations: Prosus CEO Bob van DijkThe froth of the low-interest rate regime hasn’t fully been washed away and the startup ecosystem is likely to see valuations drop further,...
- Byju’s sighs, in relief; Prosus writes off ZestMoney investment; and BGMI’s India returnAfter a long time, it was Christmas at Byju’s as a US court rejected a plea by its Term Loan B (TLB) lenders to probe a $500-million transf...
- Prosus cuts Byju’s valuation to $5.1 billion, writes off ZestMoney investmentProsus, earlier Naspers, owns little over 9% in Byju’s and readjusted the fair value of its investment in the firm to $493 million as of Ma...
- Byju’s breaking bad: Will Indian startups feel the aftershocks, and other top stories this week“Are you really surprised?" an edtech founder said, implying that industry executives have seen this blow-up coming for a while. “This will...
- PhonePe goes live with merchant loans; Government probing Byju’sAfter its failed ZestMoney acquisition, PhonePe is kickstarting its credit journey with merchant lending.
- Zomato goes live with UPI offering, Flipkart to follow; ZestMoney gets new leadershipGurgaon-based food-delivery company Zomato has gone live with a third-party Unified Payments Interface (UPI) application for some of its us...
- India continues to be a big growth driver for NaspersTerming FY19 as “transformational”, the company said almost all its revenue came from online activities.
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