Samidha Sharma

Synopsis Zomato's decision to raise additional funds via QIP, despite holding $1.5 billion in cash, has sparked intrigue in the quick commerce sector, with some viewing it as a strategic move to overshadow Swiggy's impending IPO. The slug of capital that will be needed to sustain growth in the high-burn quick commerce sector is resembling the trajectory of ecommerce a decade ago.

Alex Clavel is marking a year as co-CEO of SoftBank Investment Advisers, wherein he navigated through not only the tech investing reset but also SoftBanks shift towards greater financial prudence. Speaking to ET, Clavel termed India as one of SoftBanks top-performing markets in 2024. He said that conversely, the US public markets have remained largely flat for the past three years.

Synopsis Clavel took over his new role at the Japanese conglomerate a year ago, jointly leading its investing vehicle SoftBank Vision Fund ( SVF) with Rajeev Misra. While Clavel spearheads SVF-II, Misra who stepped away from day-to-day operations in 2022 and later launched One Investment Management, oversees legacy investments from SVF-I.

New age insurance company Acko is closing a $100-120 million secondary share sale deal through which a few of its early investors will sell their stake in the company. The deal will be done at a 5-10% discount over the valuation of $1.4 billion it had achieved in 2023.

Lahori, a Chandigarh-based beverage manufacturer, is in advanced talks with multiple investors to bag Rs 400 crore in funding, a deal which could triple its valuation since the previous round. Lahori sells carbonated non-alcoholic drinks in local flavours. Lahoris most famous beverage is Lahori Zeera, a cumin-flavoured carbonated beverage.

Synopsis Groww paid Rs 1,340 crore ($160 million) in taxes to the US government, based on the new fair market value (FMV), which is more than 30% lower than its $3 billion valuation during its last funding in 2021, sources told ET. Razorpay, which was last valued at $7.5 billion, is working with consulting firm Deloitte on the matter.

Synopsis The Bengaluru-based Unacademy, valued at $3.4 billion in 2021, will likely be merged with Allen; founders expected to exit. The edtech company has around $160 million of cash in the bank but revenues have been flat after the highs of Covid-19 even as its pivoted to an offline model.

Founded by two Stanford dropouts, quick commerce upstart Zepto has carved out its space alongside Zomato's Blinkit and Swiggy's Instamart. After Swiggy's November listing and Zomato's public debut in July 2021, Zepto remains the only private player among the big three.

Initial public offerings of eight new-age internet companies in 2024 revealed a significant disparity in wealth creation between startup founders and employees. Founders amassed nearly Rs 34,000 crore, compared to Rs 8,500 crore unlocked for staff through Esops. Concerns arise over disproportionate Esop distribution and the fairness of typical four-year vesting periods.

Stock broking platform Groww is in talks with investment banks regarding an upcoming IPO, targeting a $6-8 billion valuation. The fintech company aims to raise around $700 million. Recently, Groww relocated its parent entity to India from the US, leading to a tax payment of Rs 1,340 crore.