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Metal recycling startup Runaya ready with paper work for IPO launch, says CEO
The company, however, is yet to have any timelines or dates as far as its initial public offering (IPO) plan is concerned.
Zepto most preferred startup for professionals in India: LinkedIn ranking
LinkedIn on Wednesday released its 'Top 20 Indian Startups List', an annual ranking of emerging companies where professionals want to work, based on the hiring platform's data of almost 1 crore members.
BYJU’s to lay off up to 3,500 employees this fiscal
BYJU's had "over hired" people at the time of Covid pandemic due to sudden jump in online education, but the demand has now receded, for which the company needs to do the course correction, reported PTI quoting sources.
Finance Ministry notifies angel tax valuation rules for investments in startupsSubscriber Only
As per the changes in Rule 11UA of Income Tax rules, which comes into effect from September 25, the CBDT has provided that the valuation of CCPS can also be based on the fair market value of unquoted equity shares.
Investments in Indian agri-tech startups fell 45% between FY22 and FY23: FSG Report
Investments in Indian agri-tech startups fell by 45 per cent between 2021-22 and 2022-23 fiscal years, primarily due to a hike in global interest rates and heightened investor caution amid rising uncertainty, reveals consulting firm FSG's new report.
Byju’s hid $533 mn in obscure hedge fund, say lenders; firm says not proscribed to move funds
Byju's US-based subsidiary Alpha Inc transferred more than half a billion dollars to Camshaft Capital Fund in 2022, Bloomberg reported, citing a lawsuit in US court.
Zepto becomes India’s first unicorn in nearly a year in new funding round
Zepto said on Friday it has raised $200 million in fresh funding at a valuation of $1.4 billion, making it the first startup in the country to cross the billion-dollar valuation mark in nearly a year.
Sustainable products should not be luxury, but rather a choice available to everyone: Kikgerm founder Divya AroraSubscriber Only
Cost should not be a deterrent for people to make more conscious choices and live a better life, said Divya Arora in a chat on the sidelines of the the D2C Insider Women Summit in New Delhi.
Unilever’s venture capital arm invests in What’s Up Wellness
The funding round also saw participation from a few of What's Up Wellness' existing investors, it said.
BYJU’S sends legal notice to Aakash founders demanding share transfer
In 2021, BYJU'S acquired 33-year-old brick-and-mortar coaching centre AESL for nearly $40 million in a cash and stock deal.
Prosus NV says Byju’s ‘regularly disregarded’ former director’s advice
Prosus, which this year slashed its valuation of Byju's to $5.1 billion from $22 billion last year, said the decision for its director to step down from Byju's board last month was mainly because he was "unable to fulfil his fiduciary duty to serve the long-term interests of the Company and its stakeholders."
Byju’s, creditors agree to amend $1.2 billion loan terms
Byju's and its lenders, who own more than 85% of the edtech startup's $1.2 billion term loan, have agreed to work towards amending that loan by August 3, the steering committee of the creditors group said on Monday.
Byju’s downsizes Bengaluru office space to cut costs, ramp-up liquidity
The move comes as Byju's has already let go of thousands of employees this year, while grappling with multiple legal and financial woes.
Gaming start-ups ping Centre to reconsider uniform 28% GST levySubscriber Only
Taxing online gaming to the point of “unviability,” contradicts the Prime Minister’s vision to be a leader in the online gaming space, the letter, which was signed by Mobile Premier League, Winzo, and industry associations representing companies like Dream11, among others said.
Byju’s appoints ex-upGrad chief Arjun Mohan as CEO for international business
Edtech company Byju's has appointed upGrad's former top boss Arjun Mohan as its CEO for international business.
Byju’s promises investors to close FY22 audit by September, FY23 by year-end
In a call with shareholders on Saturday, BYJU'S CEO Byju Raveendran admitted his past mistakes and assured shareholders that his learnings far outweigh any missteps.
Byju’s in talks with investors who quit board to reconsider: Report
Byju's is asking three global investors to reconsider their decision to quit its board, as the edtech firm wrestles with the fallout of its auditor's resignation.
Govt ordered inspection of Byju’s last week: Report
Deloitte and three board members of Byju's severed ties with the company on Thursday amid an escalating legal battle with its lenders and its plummeting valuation in the eyes of some investors.
UpGrad forays into Pacific region with medical institute in Vanuatu
Edtech firm UpGrad on Tuesday announced that it has forayed into Pacific region with first-ever fully offline medical institute in the Republic of Vanuatu with an initial investment of $10 million.
Byju’s files suit against lender in New York court
Byju's, which filed the suit in the New York Supreme Court, said Redwood purchased a significant portion of the loan while primarily trading in distressed debt, which was contrary to the conditions of the term loan facility.
BYJU’S Aakash to launch IPO next year
Edtech major BYJU'S will launch the Initial Public Offering (IPO) of its test preparatory arm Aakash Education Services Limited by middle of next year, the company said on Monday.
I-T dept invites comments on draft rules for valuing startup investment by non-residentsSubscriber Only
Suggestions/comments have been invited from stakeholders and general public on the draft rules, which can be sent to ustpl2@nic.in latest by June 5, 2023, the CBDT said in a tweet. The rules would be effective from April 1, 2023.
PhonePe raises additional $100 million from General Atlantic
Including the latest round, PhonePe has raised a total of $850 million so far.
Swiggy’s food delivery business turns profitable: CEO
Bullish on India's journey of eating out and food delivery, Majety, in a blogpost, said, Swiggy is "very sanguine about the growth potential over the next two decades" and would continue to drive further growth in food delivery.
Pocket FM secures $16 million debt funding from US-based Silicon Valley Bank
Audio series platform Pocket FM has raised USD 16 million, about Rs 131 crore, in debt funding from US-based Silicon Valley Bank, which was recently acquired by First Citizens Bank, the start-up said.
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