Paytm has agreed to sell its stake in Japanese payments firm PayPay to SoftBank for $279.2 million, as the Indian firm sheds non-core assets following a bruising regulatory clampdown earlier this year. The sale of Paytm’s stake in PayPay, which it received through acquisition rights six years ago, follows months of restructuring at the Indian […]
Paytm sells PayPay stake to SoftBank for $279.2 million Read More »
MobiKwik, an Indian financial services startup, has cut the size of its planned IPO for the third time, setting a price band of ₹265-₹279 ($3.1-$3.3) that values it at $250 million — down sharply from its last private valuation of $924 million in 2021. The Gurugram-based fintech, backed by Peak XV and ADIA, is seeking
MobiKwik downsizes its IPO for the third time Read More »
Apparel and accessories platform Myntra on Thursday launched “M-Now,” its quick-commerce offering that promises to deliver apparel and accessories within 30 minutes. Retailers in India are rushing to meet changing consumer behavior and expectations, particularly fast deliveries of groceries, beauty and lifestyle products within an hour. Myntra said M-Now will offer customers access to 10,000
Myntra enters India’s quick-commerce race with 30-minute apparel delivery Read More »
Signzy, a popular vendor offering online “know your customer” ID verification and customer onboarding services to several top financial institutions, commercial banks, and fintech companies, has confirmed a security incident. The Bengaluru-based startup, which serves over 600 financial institutions globally — including the four largest Indian banks, was hit by a cyberattack last week, according
Indian online ID verification firm Signzy confirms security incident Read More »
Prosus anticipates as many as five potential IPOs from its Indian portfolio over the next 18 months, signalling growing momentum in the world’s second-largest internet market. The Dutch technology investment group on Monday named payments giant PayU, e-commerce startup Meesho and online jewelry seller Bluestone among startups preparing for public listings. TechCrunch reported last month
Prosus eyes 5 Indian IPOs in next 18 months Read More »
Sequoia is closing in on making its first deal in India and the broader Asia Pacific region since its split with former partners, according to four sources familiar with the matter. The investor, one of the world’s largest venture capital firms, is in advanced talks to back Vance, a Bengaluru-based cross-border payments startup, the sources
Sequoia nears first Asia-Pacific deal since regional split Read More »
Reddit is concentrating on international markets such as the U.K., India, Brazil, and the Philippines to bolster its user base. More than 50% of Reddit’s user base is outside of the U.S., the company’s chief operating officer, Jen Wong, told CNBC in an interview. Wong highlighted India, signaling that English-speaking users from the country are
Reddit looks to UK, India, Brazil and the Philippines to spur international growth Read More »
Zomato has raised $1 billion through a so-called qualified institutional placement, completing its first major fundraise since its 2021 IPO. The $30 billion food delivery and quick-commerce giant, which leads both those categories, issued approximately 336.5 million shares at ₹252.62 each ($3), according to a stock exchange filing on Friday. The placement, which opened on
Zomato raises $1 billion in first major fundraise since 2021 listing Read More »
India has bucked the global trend in initial public offerings this year, establishing itself as a rare bright spot for tech listings while other major markets face continued headwinds. The world’s most populous nation is now preparing for an even more substantial wave of startup IPOs in 2025. More than 20 startups are preparing to
India, already an IPO bright spot, prepares for bigger surge in 2025 Read More »
Flipkart co-founder Binny Bansal has stepped down from PhonePe’s board of directors, three quarters after making a similar move at the e-commerce giant. Bengaluru-headquartered PhonePe said it had appointed Manish Sabharwal, an executive at staffing and HR firm Teamlease, as an independent director and audit committee chair. Bansal played a key role in Flipkart’s acquisition
Flipkart co-founder Binny Bansal leaves PhonePe board Read More »
