Here's we go with the Grapevine News Bulletin - 5 handpicked scoops! ๐๏ธ Devour these tidbits in under 3 minutes and get your brain buzzing!
Let's go!
๐.โ ๐ข๐ฑ๐ข๐ ๐จ, ๐ '๐๐จ๐๐ค๐ซ๐จ๐๐๐ก ๐ฌ๐ญ๐๐ซ๐ญ๐ฎ๐ฉ', ๐ข๐ฌ ๐ ๐จ๐ข๐ง๐ ๐ฉ๐ฎ๐๐ฅ๐ข๐ ๐๐๐ญ๐๐ซ ๐๐ ๐ฒ๐๐๐ซ๐ฌ ๐จ๐ ๐จ๐ฉ๐๐ซ๐๐ญ๐ข๐จ๐ง๐ฌ
Ixigo, an online travel aggregator, is going public next week, targeting Rs 740 crore ($89 million) primarily through a sale of shares by existing investors.
The IPO is expected to value Ixigo at Rs 3,600 crore ($430 million), 20% higher than its 2021 private valuation. Ixigo's financials show strong growth, with a 32% increase in operating revenue to Rs 501 crore in FY23 and a net profit of Rs 23 crore. Ixigo's valuation appears to be a potential bargain compared to peers like EaseMyTrip and MakeMyTrip.
Existing investors like Elevation Capital and Peak XV Partners are set to make significant returns, with Elevation expected to make a 13X return.
๐ ๐๐ค๐ง ๐๐๐ค๐ช๐๐๐ฉ: ๐พ๐ค๐ช๐ก๐ ๐๐ญ๐๐๐ค'๐จ ๐ข๐ค๐๐๐จ๐ฉ ๐ซ๐๐ก๐ช๐๐ฉ๐๐ค๐ฃ ๐๐ค๐ข๐ฅ๐๐ง๐๐ ๐ฉ๐ค ๐ฅ๐๐๐ง๐จ ๐ก๐๐ ๐ ๐๐๐ ๐๐๐ฎ๐๐ง๐๐ฅ ๐๐ฃ๐๐๐๐๐ฉ๐ ๐ ๐ข๐๐ง๐ ๐๐ฉ ๐๐ค๐ง๐ง๐๐๐ฉ๐๐ค๐ฃ ๐๐ฃ ๐ฉ๐ง๐๐ซ๐๐ก ๐ฉ๐๐๐ ๐ซ๐๐ก๐ช๐๐ฉ๐๐ค๐ฃ๐จ, ๐ค๐ง ๐๐ฃ ๐ค๐ฅ๐ฅ๐ค๐ง๐ฉ๐ช๐ฃ๐๐ฉ๐ฎ ๐๐ค๐ง ๐ฅ๐ค๐จ๐ฉ-๐๐๐ ๐ซ๐๐ก๐ช๐ ๐๐ง๐๐๐ฉ๐๐ค๐ฃ ๐ฉ๐๐ง๐ค๐ช๐๐ ๐ค๐ฅ๐๐ง๐๐ฉ๐๐ค๐ฃ๐๐ก ๐๐ญ๐๐๐ก๐ก๐๐ฃ๐๐?
Source: Inc42 - https://bit.ly/3KBzNEM
๐. โ ๐๐ง๐๐๐๐๐๐ฆ๐ฒ ๐๐จ-๐๐จ๐ฎ๐ง๐๐๐ซ ๐๐๐ฆ๐๐ฌ๐ก ๐๐ข๐ง๐ ๐ก ๐ฌ๐ญ๐๐ฉ๐ฌ ๐๐จ๐ฐ๐ง ๐๐ฌ ๐๐๐
The co-founder of the edtech platform Unacademy, Hemesh Singh, is stepping down from his role as Chief Technology Officer (CTO). He will continue in an advisory role at the company, but his future plans are unclear.
Unacademy's focus has shifted more towards the offline market, which is now a central part of their business. The online test-prep operation is expected to decrease in 2023.
There have been other top-level exits at Unacademy recently. The company has raised significant funding over the past few years, with its valuation reaching over $3 billion.
๐ ๐๐ค๐ง ๐๐๐ค๐ช๐๐๐ฉ: ๐๐๐ข๐๐จ๐'๐จ ๐๐ญ๐๐ฉ ๐จ๐๐๐ฃ๐๐ก๐จ ๐ ๐จ๐ฉ๐ง๐๐ฉ๐๐๐๐ ๐จ๐๐๐๐ฉ ๐๐ฉ ๐๐ฃ๐๐๐๐๐๐ข๐ฎ, ๐๐ค๐๐ช๐จ๐๐ฃ๐ ๐ข๐ค๐ง๐ ๐ค๐ฃ ๐ค๐๐๐ก๐๐ฃ๐ ๐๐ง๐ค๐ฌ๐ฉ๐ ๐ง๐๐ฉ๐๐๐ง ๐ฉ๐๐๐ฃ ๐๐ฉ๐จ ๐๐๐๐๐ฉ๐๐ก ๐ง๐ค๐ค๐ฉ๐จ. ๐๐ค๐ฌ ๐ฌ๐๐ก๐ก ๐ฉ๐๐๐จ ๐ค๐๐๐ก๐๐ฃ๐ ๐ฅ๐๐ซ๐ค๐ฉ ๐๐ข๐ฅ๐๐๐ฉ ๐ค๐ฉ๐๐๐ง ๐๐๐ฉ๐๐๐ ๐ฅ๐ก๐๐ฎ๐๐ง๐จ, ๐๐ฃ๐ ๐๐ค๐๐จ ๐๐ฉ ๐๐ฃ๐๐๐๐๐ฉ๐ ๐ ๐๐ง๐ค๐๐๐๐ง ๐ฉ๐ง๐๐ฃ๐ ๐ค๐ ๐๐๐๐๐ฉ๐๐ก-๐๐๐ง๐จ๐ฉ ๐๐ค๐ข๐ฅ๐๐ฃ๐๐๐จ ๐๐ข๐๐ง๐๐๐๐ฃ๐ ๐๐ฎ๐๐ง๐๐ ๐ข๐ค๐๐๐ก๐จ ๐๐ค๐ง ๐จ๐ช๐จ๐ฉ๐๐๐ฃ๐๐๐ก๐ ๐๐ง๐ค๐ฌ๐ฉ๐?
Source: The Arc - https://bit.ly/3VBjrCt
๐.โ โ ๐๐๐ง๐๐ข๐ง๐ ๐๐ฉ๐ฉ ๐ ๐ข๐๐ ๐ซ๐๐ข๐ฌ๐๐ฌ $๐๐ ๐ฆ๐ง ๐๐ฌ ๐ฅ๐จ๐๐ง ๐๐จ๐จ๐ค ๐๐จ๐ฎ๐๐ฅ๐๐ฌ
The lending app Fibe has raised $90 million in a new funding round, nearly doubling its valuation to close to $600 million. The round was led by TR Capital, Amara Partners, and Trifecta Capital, with existing investors TPG and Norwest also participating.
Fibe provides unsecured personal loans of up to Rs 5 lakh, competing with players like KreditBee and Moneyview. It is profitable, with a net profit of Rs 88 crore for the 9 months ending December 2023. Its loan book has more than tripled in the last 2 years, reaching Rs 3,431 crore as of December 2023.
The company had to write off loans worth Rs 94 crore in the 9 months ending December 2023, over twice the Rs 44.5 crore in FY23. Its NBFC had a gross NPA of 2.86% in December 2023, down from 3.5% in March 2023.
๐ ๐๐ค๐ง ๐๐๐ค๐ช๐๐๐ฉ: ๐๐๐๐'๐จ ๐๐ง๐ค๐ฌ๐ฉ๐ ๐๐ฃ๐ ๐ฅ๐ง๐ค๐๐๐ฉ๐๐๐๐ก๐๐ฉ๐ฎ ๐จ๐๐ค๐ฌ๐๐๐จ๐ ๐ฉ๐๐ ๐ข๐๐จ๐จ๐๐ซ๐ ๐ฅ๐ค๐ฉ๐๐ฃ๐ฉ๐๐๐ก ๐๐ฃ ๐๐ฃ๐๐๐'๐จ ๐๐๐๐๐ฉ๐๐ก ๐ก๐๐ฃ๐๐๐ฃ๐ ๐จ๐ฅ๐๐๐, ๐๐๐จ๐ฅ๐๐ฉ๐ ๐ง๐๐จ๐๐ฃ๐ ๐๐๐ผ๐จ. ๐ผ๐จ ๐๐๐๐๐ฉ๐๐ก ๐ก๐๐ฃ๐๐๐ง๐จ ๐ก๐๐ ๐ ๐๐๐๐ ๐จ๐๐๐ก๐ ๐ง๐๐ฅ๐๐๐ก๐ฎ, ๐๐ค๐ฌ ๐ฌ๐๐ก๐ก ๐ฉ๐ง๐๐๐๐ฉ๐๐ค๐ฃ๐๐ก ๐๐๐ฃ๐ ๐จ ๐๐ฃ๐ ๐๐ฝ๐๐พ๐จ ๐ง๐๐จ๐ฅ๐ค๐ฃ๐ ๐ฉ๐ค ๐ข๐๐๐ฃ๐ฉ๐๐๐ฃ ๐ฉ๐๐๐๐ง ๐ข๐๐ง๐ ๐๐ฉ ๐จ๐๐๐ง๐ ๐๐ฃ ๐ฅ๐๐ง๐จ๐ค๐ฃ๐๐ก ๐ก๐ค๐๐ฃ๐จ?
Source: Entrackr - https://bit.ly/3X9ezpg
๐.โ โ ๐๐๐ซ๐จ ๐๐จ๐ญ๐จ๐๐จ๐ซ๐ฉ-๐๐๐๐ค๐๐ ๐๐ญ๐ก๐๐ซ ๐ซ๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฅ๐๐ญ ๐ซ๐๐ฏ๐๐ง๐ฎ๐๐ฌ ๐ข๐ง ๐ ๐๐๐
Ather Energy's revenues were flat at โน1,753 crore in FY24, down 2% from the previous year
This is due to increasing competition in the Indian electric two-wheeler market, with players like Ola Electric, Bajaj, and TVS vying for market share
Ather had seen a massive 4x revenue growth in the previous year, from โน408 crore to โน1,784 crore
๐ ๐๐ค๐ง ๐๐๐ค๐ช๐๐๐ฉ: ๐ผ๐ฉ๐๐๐ง'๐จ ๐๐ก๐๐ฉ ๐๐ง๐ค๐ฌ๐ฉ๐ ๐๐จ ๐ ๐ฌ๐๐ ๐-๐ช๐ฅ ๐๐๐ก๐ก, ๐๐๐๐๐ก๐๐๐๐ฉ๐๐ฃ๐ ๐ฉ๐๐ ๐๐๐๐ง๐๐ ๐๐ค๐ข๐ฅ๐๐ฉ๐๐ฉ๐๐ค๐ฃ ๐๐ฃ๐ ๐ฅ๐ค๐ฉ๐๐ฃ๐ฉ๐๐๐ก ๐จ๐๐ฉ๐ช๐ง๐๐ฉ๐๐ค๐ฃ ๐๐ฃ ๐๐ฃ๐๐๐'๐จ ๐๐ก๐๐๐ฉ๐ง๐๐ ๐ฉ๐ฌ๐ค-๐ฌ๐๐๐๐ก๐๐ง ๐ข๐๐ง๐ ๐๐ฉ. ๐๐๐ฉ๐ ๐ข๐ช๐ก๐ฉ๐๐ฅ๐ก๐ ๐ฅ๐ก๐๐ฎ๐๐ง๐จ ๐ซ๐ฎ๐๐ฃ๐ ๐๐ค๐ง ๐๐ค๐ข๐๐ฃ๐๐ฃ๐๐, ๐ฌ๐๐ก๐ก ๐ฌ๐ ๐จ๐๐ ๐๐ค๐ฃ๐จ๐ค๐ก๐๐๐๐ฉ๐๐ค๐ฃ ๐๐ฃ ๐ฉ๐๐ ๐๐ ๐ฉ๐ฌ๐ค-๐ฌ๐๐๐๐ก๐๐ง ๐จ๐ฅ๐๐๐, ๐ค๐ง ๐ฌ๐๐ก๐ก ๐๐๐๐๐๐ง๐๐ฃ๐ฉ๐๐๐ฉ๐๐ค๐ฃ ๐ฉ๐๐ง๐ค๐ช๐๐ ๐ฉ๐๐๐๐ฃ๐ค๐ก๐ค๐๐ฎ ๐๐ฃ๐ ๐๐ง๐๐ฃ๐ ๐ก๐ค๐ฎ๐๐ก๐ฉ๐ฎ ๐๐๐๐ค๐ข๐ ๐ ๐๐ฎ ๐๐ง๐ค๐ฌ๐ฉ๐ ๐๐ง๐๐ซ๐๐ง๐จ?
Source: MoneyControl - https://bit.ly/3x98gY4
๐. โ ๐๐๐ฃ๐๐ฃ ๐๐จ๐ฎ๐ฌ๐ข๐ง๐ ๐ ๐ข๐ง๐๐ง๐๐ ๐๐ข๐ฅ๐๐ฌ ๐ฉ๐๐ฉ๐๐ซ๐ฌ ๐๐จ๐ซ ๐๐ฌ ๐,๐๐๐ ๐๐ซ ๐๐๐
The IPO will comprise a fresh issue of equity shares worth up to Rs 4,000 crore and an offer for sale of equity shares worth Rs 3,000 crore by parent Bajaj Finance.
The proceeds will be used to augment Bajaj Housing Finance's capital base to meet future capital requirements.
๐ ๐๐ค๐ง ๐๐๐ค๐ช๐๐๐ฉ: ๐ฝ๐๐๐๐ ๐๐ค๐ช๐จ๐๐ฃ๐ ๐๐๐ฃ๐๐ฃ๐๐'๐จ ๐๐๐ ๐ง๐๐๐ก๐๐๐ฉ๐จ ๐๐ง๐ค๐ฌ๐๐ฃ๐ ๐๐ฃ๐ซ๐๐จ๐ฉ๐ค๐ง ๐๐ค๐ฃ๐๐๐๐๐ฃ๐๐ ๐๐ฃ ๐๐ฃ๐๐๐'๐จ ๐๐ค๐ช๐จ๐๐ฃ๐ ๐๐๐ฃ๐๐ฃ๐๐ ๐จ๐๐๐ฉ๐ค๐ง, ๐๐ง๐๐ซ๐๐ฃ ๐๐ฎ ๐ช๐ง๐๐๐ฃ๐๐ฏ๐๐ฉ๐๐ค๐ฃ ๐๐ฃ๐ ๐ ๐ง๐๐จ๐๐ฃ๐ ๐ข๐๐๐๐ก๐ ๐๐ก๐๐จ๐จ. ๐๐๐ฉ๐ ๐ข๐ค๐ง๐ ๐๐ค๐ช๐จ๐๐ฃ๐ ๐๐๐ฃ๐๐ฃ๐๐ ๐๐ค๐ข๐ฅ๐๐ฃ๐๐๐จ ๐๐ค๐๐ฃ๐ ๐ฅ๐ช๐๐ก๐๐, ๐ฌ๐๐ก๐ก ๐ฉ๐๐๐จ ๐๐ฃ๐๐ง๐๐๐จ๐๐ ๐๐๐ฅ๐๐ฉ๐๐ก ๐ก๐๐๐ ๐ฉ๐ค ๐ข๐ค๐ง๐ ๐๐๐๐ค๐ง๐๐๐๐ก๐ ๐๐ค๐ช๐จ๐๐ฃ๐ ๐ค๐ฅ๐ฉ๐๐ค๐ฃ๐จ, ๐ค๐ง ๐ฌ๐๐ก๐ก ๐๐ฉ ๐ฅ๐ง๐๐ข๐๐ง๐๐ก๐ฎ ๐๐๐ฃ๐๐๐๐ฉ ๐๐๐๐-๐๐ฃ๐ ๐ง๐๐๐ก ๐๐จ๐ฉ๐๐ฉ๐?
Source: YourStory - https://bit.ly/3KBAj5G
Got a zesty take on our tangy ๐ ๐๐ค๐ง ๐๐๐ค๐ช๐๐๐ฉ? Discuss in comments below! โฌ๏ธ
Elevation making 13xโฆ damn
๐คฆ๐ป Elevation making 13x but still doing this ๐คฆ๐ป https://share.gvine.app/S7o67ZmhmoWTAmNs7
Pretty interesting around Hemesh leaving Unacademy - lots of focus for education startups is moving offline now with offline first, limited tech upside in EdTech now.
The key opportunities are in test prep, upskilling, and preschool education, where an offline-dominant approach can deliver better learner engagement, discipline, and outcomes compared to pure online models - Mesa, Master's Union, BitSOM leading this along with edtechs like PW, Unacademy etc aggressively moving offline now ๐ฅ
Exciting to see this shape up!
Very shocking move
Nice initiative of this Economy blog!
Love the fact that you're taking in feedback and reflecting it in the next day's roundup!
For what it's worth I liked the slightly longer briefs from before. Keep em going team!
L, jj Redick Redim. iIMHOOMCXCSSLO kothlo
While there are lot of VCs coming out with their โexpertโ outlook on 2024, letโs be real to share our own predictions. Idea is to share and learn and not just mudsling.
Let me go first with few of my own
Pathetic. How many times these so called another layoff? This is pure scam. Such kind of CEOs and CTOs have no rig...
Hey Everyone,
I'm Vaibhav Vardhan, Co-Founder & CEO at Inc42. We are Indiaโs #1 startup media & intelligence platform that informs, educates and empowers startup leaders & operators through our incisive reporting and industry-leading ...
