Quick commerce platform Zepto lost INR 390.3 Cr on a standalone basis in its first year of operations in fiscal year 2021-22. (FY22).
The total revenue of the Nexus Venture Partners-backed startup in FY22 was INR 142.3 Cr. In FY22, Zepto, which began operations in April 2021, incurred total expenses of INR 532.7 Cr. In FY22, Zepto spent INR 175.5 Cr on advertising and promotional expenses, accounting for nearly 33% of total expenses. Zepto’s most recent valuation of $900 million is 48 times its total revenue in FY22. In FY22, Zepto spent INR 3.7 to earn a single rupee.
GoTo’s legal and corporate secretary said the company follows regulations for public companies and will prioritize the interests of shareholders. Source link
SUMMARY The due diligence is done, and both sides are negotiating final terms for the cash and equity transaction If the deal closes, it will mark one of the biggest consolidation in India’s auto tech sector Notably, CarDekho entered the unicorn club in October 2021 after raising $250 Mn at a $1.2 Bn valuation. It, however, shut down its used-car retail business in 2023 after high operating costs made it unviable Listed auto marketplace CarTrade is reportedly in advanced stages to acquire rival CarDekho in a deal valued at… Source link
From a brand known for its cool urban image and setting the Indian craft brewery benchmark, Bira 91’s survival hangs by a thread. The startup, which has raised more than $200 Mn in funding to date from investors such as Peak XV Partners, Sofina, and Kirin Holdings, among others, is struggling to move past the slowdown that hit its business last year. At the centre of the storm are 600 employees, the investors, and Ankur Jain, the CEO and founder of B9 Beverages Ltd, Bira 91’s parent company. Jain is under pressure to step down… Source link
