2025-01-01
The next question: Will PhonePe, backed by Walmart, move on its IPO. Founder @_sameernigam had said UPI market cap issue as a hindrance to a potential public issue. From August: on why this was on the cards. [image]
TechCrunch
India extends a deadline for implementing a 30% cap on any company's share of transactions on UPI payments network, providing relief to Google Pay and PhonePe
India has once again pushed back a contentious plan to limit big technology companies' control of the nation's digital payments system …
Confirmed and breaking : 30% UPI market cap on UPI volumes deferred by another two years till Dec 31, 2026! This is the second extension of two years. PhonePe and Google Pay corner 85-90% market share
TechCrunch
India extends a deadline for implementing a 30% cap on any company's share of transactions on UPI payments network, providing relief to Google Pay and PhonePe
India has once again pushed back a contentious plan to limit big technology companies' control of the nation's digital payments system …
2024-09-25
FBI is investigating Hone Capital, an investor in Stripe, Cruise, if the fund used Chinese money to become one of Silicon Valley's most prolific early investors and allowed Beijing to obtain the trade secrets, tech and client data, of tech startups. https://www.ft.com/...
Financial Times
Sources: the FBI is investigating whether China-backed Hone Capital, a US VC firm that invested in 360 US tech startups, allowed Beijing to obtain trade secrets
Hone Capital became the most prolific early investor in US tech start-ups — The FBI is investigating whether a US venture capital fund …
2024-07-24
From @SiddarthMPai on Angel Tax being abolished: This is essential for startups to remain in India and build form here. While the fine print as to class of investors is awaited, this is a major step forward for Indian startups. It is a watershed moment in the Indian startups
TechCrunch
India scraps “angel tax” for all classes of investors, a major victory to the country's startup ecosystem that had lobbied for years against the measure
Manish Singh / TechCrunch :
Alright, another significant one for startups from #BudgET2024 is The Long-Term Capital Gains (LTCG) brought down to 12.5% vs 20% earlier for unlisted stocks.
TechCrunch
India scraps “angel tax” for all classes of investors, a major victory to the country's startup ecosystem that had lobbied for years against the measure
Manish Singh / TechCrunch :
2024-01-27
. @binnybansal wrote to the board earlier this week resigning from the board. He also sits on PhonePe board which has forayed into ecommerce after separation from erstwhile parent Flipkart.
TechCrunch
Co-founder Binny Bansal steps down from Flipkart's board, after selling his entire stake in the company, which was acquired by Walmart in 2018, in recent years
Manish Singh / TechCrunch :
2023-07-10
HongShan told FT it had a “strong foundation of trust” with PeakXV and there would be opportunities for both teams to collaborate. Peak XV said: “The opportunities for collaboration [with HongShan] are far greater than the scope for competition.” https://www.ft.com/...
Financial Times
Sources: Sequoia's China unit HongShan set up an office in Singapore and may compete with Sequoia's India-based Peak XV Partners for Southeast Asia investments
2023-04-12
“The Four Seasons in Riyadh is basically Palo Alto,” https://www.ft.com/...
Financial Times
Sources: a16z, Tiger Global, IVP, and other VCs are touring Saudi Arabia, the UAE, and Qatar to build ties with sovereign wealth funds during the funding crunch
Liquidity crunch leads investors such as Andreessen Horowitz to sovereign wealth funds in Saudi Arabia, Qatar and UAE
2023-01-26
Another Flipkart exit out for delivery A significant moment in the making at Flipkart, the startup posterchild, where two of its early backers—Accel and Tiger Global—are in talks to fully exit the etailer by selling remaining stake to parent Walmart. Newsbreak at @ETtech & 🧵 https://twitter.com/...
The Economic Times
Sources: Accel and Tiger Global are in talks to sell their remaining Flipkart stakes, around 1% and 4%, respectively, to parent company Walmart for ~$1.5B
Happy 74th Republic Day! — Two early backers of Flipkart - venture fund Accel Partners and New York-based investment firm Tiger Global …
For Tiger Global-This will deliver a significant payout and mark the culmination of an investment cycle triggered by Lee Fixel, a former partner in the NY firm who led its investments in Flipkart. He would later deepen Tiger Global's India bets with Delhivery, Ola and Razorpay.
The Economic Times
Sources: Accel and Tiger Global are in talks to sell their remaining Flipkart stakes, around 1% and 4%, respectively, to parent company Walmart for ~$1.5B
Happy 74th Republic Day! — Two early backers of Flipkart - venture fund Accel Partners and New York-based investment firm Tiger Global …
For Accel, which first invested in Flipkart in 2009, the latest deal is expected to fetch returns of around $350 million as it completely exits the company. Beginning with an initial investment of $1 million, Accel had over time pumped in a total of about $100 million in FK
The Economic Times
Sources: Accel and Tiger Global are in talks to sell their remaining Flipkart stakes, around 1% and 4%, respectively, to parent company Walmart for ~$1.5B
Happy 74th Republic Day! — Two early backers of Flipkart - venture fund Accel Partners and New York-based investment firm Tiger Global …
US retail giant Walmart may shell out around $1.5 billion in what would be another mega exit for Flipkart's early investors. Both investment firms are exiting from Flipkart largely because they need to return money to their limited partners or sponsors. https://twitter.com/...
The Economic Times
Sources: Accel and Tiger Global are in talks to sell their remaining Flipkart stakes, around 1% and 4%, respectively, to parent company Walmart for ~$1.5B
Happy 74th Republic Day! — Two early backers of Flipkart - venture fund Accel Partners and New York-based investment firm Tiger Global …
2022-07-25
Zomato down more than 12% as investor lock in expiring. This is also lower than Zomato's last private valuation. https://twitter.com/...
TechCrunch
Zomato stock dropped 14%+ to a record low after a lock-in period expired, giving the company a market cap of $4.2B, down from $13.2B on its IPO debut year ago
Manish Singh / TechCrunch :
2022-05-14
All said, execution holds key for the network whose parallels are being drawn to UPI and what it did to e-payments. Details here. https://economictimes.indiatimes.com/ ...
The Economic Times
Sources: Amazon, Flipkart, and Reliance Retail are in talks to join India's open e-commerce network, which aims to break the dominance of large e-commerce firms
Logistics providers Ekart, Dunzo sign up on network; PhonePe in final stages of integration — Bengaluru: Ecommerce majors … Tweets: @sarthakgh , @ettech , @digbijaymishra1 , @dig...
We also spoke to ONDC CEO on roadmap for the the much ambitious network and what's on cards after the pilot has begun in 5 cities including Blore. Trivia: One of the first orders via ONDC network in Blore was coriander from an organic farm. More Here: https://economictimes.indiatimes.com/ ... https://twitter.com/...
The Economic Times
Sources: Amazon, Flipkart, and Reliance Retail are in talks to join India's open e-commerce network, which aims to break the dominance of large e-commerce firms
Logistics providers Ekart, Dunzo sign up on network; PhonePe in final stages of integration — Bengaluru: Ecommerce majors … Tweets: @sarthakgh , @ettech , @digbijaymishra1 , @dig...
🚨🚨We are breaking the most imp story on ONDC so far! Flipkart, Reliance, Amazon may join India's open ecommerce network, ONDC. 🛻🏍️Ekart, Dunzo have already plugged in while PhonePe is in final stages of integration on the network. W/@prnvbal https://economictimes.indiatimes.com/ ... https://twitter.com/...
The Economic Times
Sources: Amazon, Flipkart, and Reliance Retail are in talks to join India's open e-commerce network, which aims to break the dominance of large e-commerce firms
Logistics providers Ekart, Dunzo sign up on network; PhonePe in final stages of integration — Bengaluru: Ecommerce majors … Tweets: @sarthakgh , @ettech , @digbijaymishra1 , @dig...
Among the biggies, we have confirmation from Amazon and PhonePe on their engagement with ONDC with the latter being in very advanced stages of integration into the network. No-jargon graphic to simplify ONDC a bit here 👇 https://economictimes.indiatimes.com/ ... https://twitter.com/...
The Economic Times
Sources: Amazon, Flipkart, and Reliance Retail are in talks to join India's open e-commerce network, which aims to break the dominance of large e-commerce firms
Logistics providers Ekart, Dunzo sign up on network; PhonePe in final stages of integration — Bengaluru: Ecommerce majors … Tweets: @sarthakgh , @ettech , @digbijaymishra1 , @dig...
2022-02-08
. @Ashneer_Grover has begun talks to sell his stake in BharatPe, potentially looking at a full exit.But exiting at a discount looks tough, key investors hold right of first refusal (Rofr) on founder's shares and tag along rights. @samidhas and I report. https://economictimes.indiatimes.com/ ...
Inc42 Media
BharatPe, an Indian fintech unicorn backed by VCs such as Sequoia and Coatue, is facing allegations of embezzlement, impropriety in merchant dealings, and more
Calling CEO Suhail Sameer “a puppet of investors”, Grover has alleged a conspiracy behind sending him away and instituting a probe
2021-12-28
In a rare move, Tiger Global has agreed to not invest in any direct rival of consumer-neobank Jupiter till it stays invested in Jupiter founded by fintech veteran @guptajiten Details here: Will we see more of this in 2022? https://twitter.com/...
TechCrunch
Indian neobank Jupiter raises an $86M Series C at a $711M valuation, up from ~$300M in August, as it prepares to launch lending and wealth management services
Manish Singh / TechCrunch :
2021-11-02
Delhivery seeks Sebi nod for Rs 7,460 crore. Besides SoftBank and Carlyle, three Delhivery founders are also selling share in the OFS of the IPO. @SnehaShahET @samidhas https://economictimes.indiatimes.com/ ... https://twitter.com/...
Reuters