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TECH VALUATION MARKDOWN
UpGrad-Unacademy deal closes; India’s largest private satellite lifts offHappy Monday! Upgrad is set to acquire Unacademy at a 90% markdown of its peak valuation. This and more in today's ETtech Morning Dispatch.- Rupee slide boosts IT; Gupshup’s valuation markdownThe rupee’s sharp slide could give IT firms a surprise Q4 bump. This and more in today’s ETtech Top 5.
- From $22 billion to $1 billion: Byju’s valuation at BlackRock bottomPreviously, BlackRock had valued Byju's at $8.2 billion at the end of the March quarter of 2023. For Byju's, this is not the first valuatio...
- Byju Raveendran among big names exiting 2023 Hurun India Rich ListRaveendran's exit was attributed to markdowns by the company's investors. A few days earlier, there were reports in the media that that onl...
- Tata Cliq continues to bleed; Ola’s valuation trimmed to $3.5 billionSmoke is billowing as the Tata Group continues to burn cash on its first ecommerce platform — Tata Cliq. Tata UniStore Ltd, which owns and ...
- Fidelity halves Gupshup’s valuation to roughly $697 millionFidelity Blue Chip Growth Fund’s stake in the San Francisco-headquartered startup was valued at nearly $11.09 million as of April 30, 2023,...
- Fidelity cuts Gupshup’s valuation by 37% to $876 millionSaaS firm was valued $1.4 billion in 2021
- Byju’s, Meesho face valuation cuts; electric two-wheeler beneficiaries’ tally under FAME slashedOn Tuesday, BlackRock further marked down the valuation of edtech firm Byju’s, while Fidelity Investments slashed Meesho’s valuation by 10%...
- Fidelity Investments cuts Meesho's valuation by 10% to $4.4 billionNotably, Fidelity’s funds had valued Meesho at $4.98 billion as of December 2022. Prior to that, as of September 2022, the investor had asc...
- System of a down round: valuation markdowns hit Indian startups; to affect fundraising, IPO plansSome of India’s biggest startup stars have seen their valuations slashed, and fallout is likely to impact fundraising, public offerings and...
- US investor Janus Henderson cuts PharmEasy valuation by half to $2.8 billionThe global investor, which picked a stake in PharmEasy in September 2021, has reduced the valuation of its holding in the firm by half, whi...
- Exclusive: Pine Labs, PharmEasy face markdowns by Neuberger Berman as tech valuations tumbleThe chill in the consumer Internet investment ecosystem and the subsequent cooling down in startups’ growth in India are now being felt thr...
- Valuation markdowns hit Pine Labs, PharmEasy; Paytm’s boost to ONDC; and Netflix India under tax netContinuing with the trend of valuation markdowns at large tech companies, fintech firm Pine Labs and online pharmacy PharmEasy became the l...
- Zomato slides 7% on fears ONDC may hit profitabilityAnalysts said the disruption by ONDC, where consumers are buying food and grocery at cheaper prices, has hurt investor sentiment in loss-ma...
- Invesco slashes Swiggy’s valuation by 33% to $5.5 billionThis is the second time Invesco has cut down its valuation in the food delivery firm. We reported last month that Invesco had marked down i...
- Oyo founder Ritesh Agarwal gets easier terms for 2019 share buybackThe revised conditions include a reduced quasi-equity component of $950 million, down from $1.8 billion previously, due to an $850 million ...
- IPO-bound Oyo valuation dips in pvt market after reported markdown by investor SoftBankOyo said its total number of 'storefronts' was down at 1,68,012 in the quarter ended June 30, 2022 from 1,68,639 as on March 31, 2022 due t...
- Why Ola, Snapdeal should look to raise debtAnt, which operates Alibaba's Alipay payments service, is the world's second-biggest unicorn, with a $60 billion equity valuation that trai...
- Indian unicorns unwilling to bring in professional CEOs: Ex-Flipkart executive Punit SoniIndian unicorns are grappling with leadership challenges but are unwilling to bring professional chief executives on board.
- Valuation review of technology and ecommerce companies like Flipkart new normValuations of tech and ecommerce companies like LinkedIn, Twitter and Alibaba taking hits, markdowns have become routine.
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