Flipkart

Representative image Walmart-backed Flipkart has completed full ownership separation of PhonePe as the payments and financial services unicorn is looking to raise its largest-ever funding round , which will make it the most-valued fintech startup in India. "Setting up these businesses as separate entities will also provide value and create new opportunities for investors to participate in the Indian tech ecosystem – helping unlock and maximize enterprise value for shareholders of the two companies," the two companies said in a joint statement on December 23. "As part of this transaction, existing Flipkart Singapore and PhonePe Singapore shareholders, led by Walmart, have purchased shares directly in PhonePe India. This also completes the move to make PhonePe a fully India-domiciled company, a process that started earlier this year," the statement said. In October, PhonePe moved its registered entity from Singapore to India ahead of its plans to launch an IPO in … [Read more...] about Flipkart fully hives off PhonePe ahead of fintech major’s multi-million dollar fundraise

(L-R) Accel India's Prashanth Prakash, Flipkart's Kalyan Krishnamurthy, Zerodha's Nikhil Kamath, Udaan's Sujeet Kumar, Prosus Ventures' Ashutosh Sharma After 2021's funding frenzy, 2022 has been the year of corrections for India's tech and startup ecosystem, as it deals with rising inflation, looming recession, and other macro environmental challenges. These issues will continue to impact startups and tech companies in the coming year as well, the country's top tech and startup executives said in a panel discussion at Bengaluru Tech Summit on November 18. Flipkart Group Chief Executive Kalyan Krishnamurthy said some amount of "moment of truth" will come into the market by April or May next year "People will have to go back and raise money. At that time, we will have to see what happens to valuations," he said. New-age domestic tech companies such as Paytm, Zomato, PB Fintech and Nykaa have taken a beating this year amid a broader meltdown of global tech stocks due to … [Read more...] about Moment of truth for Indian startups likely next year: Flipkart’s Kalyan Krishnamurthy

Xiaomi has officially unveiled the Redmi Note 12 series in India. The Redmi Note 12 5G, Redmi Note 12 Pro 5G, and Redmi Note 12 Pro Plus 5G arrive with MediaTek and Qualcomm processing hardware. The Redmi Note 12 Pro+ also marks new ground for the ‘Note’ series, falling in India’s sub-30K segment for the first time. Redmi Note 12 Pro+ Price in India The Redmi Note 12 Pro Plus price in India is set at Rs 29,999 for the base 8GB/256GB configuration, while the 12GB/256GB model will set you back Rs 32,999. The Redmi Note 12 Pro+ is available in Arctic White, Iceberg Blue, and Obsidian Black colours. Redmi Note 12 Pro 5G price in India The Redmi Note 12 Pro price in India is set at Rs 24,999 for the base 6GB/128GB model. The Note 12 Pro is also offered in 8GB/128GB and 8GB/256GB configurations that will set you back Rs 26,999 and Rs 27,999, respectively. The Redmi Note 12 Pro 5G is available in Stardust Purple, Frosted Blue, and Onyx Black colour options. Redmi Note … [Read more...] about Redmi Note 12 series launched in India with up to 120Hz AMOLED display, 200 MP triple camera setup and 120W charging

Representative image. Payments and financial services unicorn PhonePe has raised $350 million in a new funding round from General Atlantic at a valuation of over $12 billion, making the Walmart-backed startup, the most-valued fintech in India. The company would be raising as much as $1 billion in the current round in tranches, it said in a statement on January 19. Moneycontrol first reported in October about PhonePe eyeing a fundraise from General Atlantic at a valuation of $12 billion. PhonePe’s fundraise follows the company’s spin-off from e-commerce startup Flipkart , which was announced in December. The Flipkart spin-off also completes PhonePe's transition to a fully Indian-domiciled company, which began in 2022. PhonePe has now become a decacorn, or a startup valued at more than $10 billion, joining the ranks of Flipkart, which was acquired by Walmart, Paytm, which went public last year, Byju's, and Swiggy. PhonePe's valuation has also surpassed that of … [Read more...] about PhonePe raises $350 million from General Atlantic at a valuation of $12 billion

Share to Twitter Share to Linkedin Founder and Group CEO of Collective Artists’ Network, Vijay Subramaniam, runs one of the most exhaustive talent management agencies in India. In an exclusive interview, he talks about his journey and the challenges involved. Be it marrying his first girlfriend, or deciding to not sit for a single campus placement interview after completing mechanical engineering, Subramaniam has always been sure of the things he wanted in life. He credits it to his upbringing and the fact that his father was an army officer. The Indian talent management company Kwan was rebranded as Collective Artists’ Network with Dhruv Chigopekar and Subramaniam as the co-founders in 2021. They worked together at Kwan as well. Kwan was founded by Anirban Das Blah in 2009 and Madhu Mantena, alongwith Subramanium and Chitgopekar, were the among founding members of the agency. Blah and Subramaniam also worked together at Mahesh Bhupathi’s Globosport … [Read more...] about Mechanical Engineer To Managing Talent In Bollywood And Beyond: Vijay Subramaniam’s Journey

Fanory is a creator monetisation startup. (Representative image) Digital entertainment and technology firm JetSynthesys has acquired a majority stake in Fanory, a creator monetisation startup co-founded by former Twitter India head Manish Maheshwari. Fanory, which was in stealth mode until now, enables creators to connect with their superfans through a personalised app. Creators can sell premium content and experiences through a coin-based payment mechanism within the app. Maheshwari told Moneycontrol that he started this venture with two of his former colleagues about three months back. The names of other co-founders are yet to be disclosed. Maheshwari will focus on the global expansion of Fanory that will work closely with the digital entertainment vertical of JetSynthesys. "We are looking forward to expanding our horizons in the digital entertainment space. The social media creators market has grown exponentially, and we see this continuing for the foreseeable … [Read more...] about JetSynthesys buys majority stake in Fanory, ropes in ex-Twitter India head Manish Maheshwari as president

Representative image. PhonePe’s investors had to cough up almost Rs 8,000 crore in taxes as the firm decided to domicile in India, said PhonePe’s cofounder and chief executive officer Sameer Nigam. “I hope things will get easier. If you want to move from any other market to India as a domicile it is treated as a capital gains event for existing investors so they have to make a fresh mark to market valuation, you have to pay tax on the delta,” Nigam said during the firm’s first Youtube Live session on January 25 after it raised a huge round of $350 million last week . The fundraise made the startup the most-valued fintech in India with a valuation of $12 billion. In October 2022, Walmart-owned PhonePe announced that it has completed the process of moving its domicile from Singapore to India. ““The mission we are on is to solve for at-scale financial inclusion, digitization,  ecosystem building in the country…India is where we started and India is where we will focus going … [Read more...] about PhonePe’s investors coughed up Rs 8,000 crore in taxes to shift domicile from Singapore to India: CEO Sameer Nigam

Gaurav Kapoor, a New Delhi-based stand-up comedian, has over a million subscribers on YouTube. His channel is full of daily vlogs and occasional stand-up videos. Kapoor is usually the one cracking one-liners. But when it comes to promoting Mamaearth’s products, he becomes the butt of jokes. Kapoor and other influencers have promoted Mamaearth products extensively since the company was incorporated in 2016. For the average YouTube viewer, the sheer number of ads of the then-fledgling brand would easily have got on one’s nerves. Mamaearth is the flagship brand of Honasa Consumer, a beauty and personal care company that plans to come out with an initial public offering. The company filed its draft IPO papers on December 30. Also Read: Mamaearth parent files IPO papers; Sofina, Stellaris, Kunal Bahl, Shilpa Shetty to sell stake Read More The amount spent on advertising and influencer marketing stands out in the company’s draft red herring prospectus. As of … [Read more...] about P/E of 1,000? Investors cautious over huge valuation of Mamaearth IPO

Republic Day holiday offers you can choose. Republic Day 2023 falls on a Thursday, which will give many people the chance to enjoy a long weekend. If you are planning to take a mini-vacation next week, there are discounts on flights (which individual airlines have announced) and hotel stays that you can avail. Here is a look at some websites/hotel chains offering discounts in January. EasyMytrip The website is offering discounts on booking flights, bus and train tickets, cabs and hotels. The offers began on January 20 and will stay valid till January 26. Customers can avail discounts of up to 13 percent on both international and domestic flights and up to 20 percent on hotel bookings. Discounts differ depending on which bank's card you choose for payment. More details are available on their website. Read More Yatra.com Yatra.com's "Big Travel Sale" sale is offering booking discounts of up to 26 percent to mark Republic Day. Customers can avail … [Read more...] about Republic Day 2023 sale: Check offers on hotel stays, holiday packages