india

Once-dominant Swiggy seeks $11.3B value at IPO, less than half Zomato’s worth

Startups /

Swiggy, one of India’s largest food delivery and quick commerce startups, is seeking a valuation of up to $11.3 billion in its initial public offering, marking a 57% discount to rival Zomato’s market cap. The lossmaking Bengaluru-based company has set an IPO price band of ₹371 to ₹390 ($4.41-$4.64) per share for next month’s IPO. […]

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Meesho claims Indian e-commerce first with positive cash flow

Commerce /

Meesho has become India’s first horizontal e-commerce firm to generate positive cash flow, marking a significant shift in a market where profitability has long remained elusive even as new competitive threats emerge. The SoftBank and Prosus-backed startup, which serves customers in smaller Indian cities and towns, reported positive operating cash flow of ₹232 crores ($27.6

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YouTube brings its affilate program to India, partners with Walmart-owned Flipkart

Commerce /

YouTube is bringing its affiliate program to India so creators can tag products in their videos and earn referral money just ahead of the festive season. The company is partnering with Walmart-owned Flipkart and fashion and lifestyle e-commerce service Myntra, which is owned by Flipkart to open up their product catalogs to creators. The company

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India’s Paytm wins approval to resume payments growth

Fintech /

Paytm, a leading Indian financial services firm, has received regulatory approval to resume adding new UPI payments users, following an eight-month restriction on many of its operations. UPI, which processes over 15 billion monthly transactions, dominates India’s online payments. Walmart-owned PhonePe and Google Pay process about 87% of UPI transactions, whereas Paytm’s market share has

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Groww pays $160M tax as it returns to India amid a startup relocation wave

Fintech /

Indian stock trading and mutual fund startup Groww paid $159.4 million in taxes as it shifted its domicile from the U.S. back to India, the company said in a statement on Monday. Nearly a dozen Indian startups are in the process of relocating their headquarters to India from the U.S. and Singapore to better comply

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Byju’s founder says his edtech startup, once worth $22B, is now ‘worth zero’

Startups /

Byju Raveendran, the founder of the embattled edtech group Byju’s, acknowledged on Thursday afternoon that he made mistakes, mistimed the market, and that his startup, once valued at $22 billion, is now effectively worth “zero.” Speaking to a group of journalists, Raveendran said the company’s aggressive acquisition of more than two dozen startups to expand

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Zepto eyes $100M from Indian offices in third funding in 6 months

Startups /

Zepto is in advanced stages of talks to raise $100 million in new investment, its third in the last six months, as the leading Indian quick commerce startup looks to rope in more domestic investors, sources familiar with the talks told TechCrunch. The Mumbai-headquartered startup, which allows customers in multiple Indian cities order grocery, office

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