πππ¦π’ππ‘π ππ‘ππ«π¦π
@samidhas
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Editor @ETtech.π₯π₯Subscribe to ETtech newsletters https://t.co/YdhriWH4iE , π§π§ [email protected]
Bombay/Bangalore βοΈ
Joined November 2008
π¨π¨ Today, I finally got down to launching Full Stack, a separate space for my opinions, views & commentary on the new economy. Why Full Stack? Cos these will be rounded, balanced views & talk as much about tech companies & startups as the people who inhabit itβ¦.
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Sorry? This is a list of people who moved jobs, it is not a diversity contest. .
Not a single woman in this!!!!! It is a manβs world @EconomicTimes eh? Or are you a newspaper edited by men!!!
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𧡠#Zomato piloted a 10-min delivery service stirring a bunch of discussion. Itβs a good time to share some stories Iβve reported on since 2013β14 chronicling the sector. Itβs amazing how much things have changed but really havenβt.This is the history of food-delivery in India.
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Get the picture right for Sam Altman, at least.
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π¨π¨Just In: Dunzo cofounder Kabeer Biswas has joined Flipkart today to lead its quick commerce biz Minutes . @ETtech @digbijaymishra1.
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How can people be so irresponsible at a time like this & then blame the government for not doing enough. disgraceful! Via @timesofindia #COVID19india
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Iβve covered Falguni Nayar & Nykaa since she first raised external capital. Sheβs one entrepreneur who defies all templates drawn up for tech founders. Yesterday she spoke about a bunch of these biases, promoter vs professional, HNI capital vs VC money.
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π¨π¨Rare Rabbit, a Bengaluru-based omnichannel premium menβs apparel brand, is closing its maiden institutional funding round of Rs 500 crore. Deal details: The funding round, a mix of primary capital infusion and a secondary share sale by the founders Manish Poddar and wife
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Iβve now heard this from several ppl who returned to India from China & later from Europe in January & February, that they kept getting calls from local health authorities for 14 days, to check if they were okay or had developed any symptoms of #COVID19z This is very reassuring!.
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π¨π¨This evening we broke the news of lending apps like PayUβs LazyPay, Kissht, among others being a part of the 94 loan apps to be blocked by the Indian Govt. This has led to chaos among lending startups. Till yesterday it was seeming like only Chinese apps were being banned.
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Just an hour after we send queries to the two companies-- info leaks out to another publicationπ. π¨π¨Breaking: Food delivery company Zomato has held talks to acquire Paytmβs movie ticketing and events business as the Deepinder Goyal-led firm looks to double down on its βgoing.
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π¨π¨ AM Scoop: Chiratae Ventures, one of Indiaβs oldest VC funds, had put on the block a bunch of its portfolio firms for sale last year, amid pressure to return capital to LPs. This is significant cos most Indian VC funds are facing a similar situation.
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2020 looks so much better now compared to now.
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π¨π¨Our big Monday AM story. #TigerGlobal exits Flipkart with a $3.5 billion profit, selling its remaining stake to Walmart, the fund told its LPs on June 28 in a communication. W/@digbijaymishra1 @ETtech .
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Zomato and Delhivery have gotten together to source oxygen concentrators. ππ½ππ½.
Zomato Feeding India, our not-for-profit has kickstarted the βHelp Save My Indiaβ endeavour today in association with @delhivery to source oxygen concentrators and related supplies to help hospitals and families in need.
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This is hilarious!!
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UPI Autopay for recurring payments has been officially launched, @NandanNilekani #GlobalFintechFest @ETtech @Ashwin_ET.
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Almost three months into going public, Zomatoβs CEO says the IPO decision was not by design but the only option left for the company as it faced its worst crisis ever. This is a must read! β¦.
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Snubbed in Delhi but welcomed in Bombay!! Jeff Bezos with Mukesh Ambani, Sunil Mittal, Adi Godrej, Kishore Biyani, Rajnish Kumar, NRN, Kishore Biyani, Salil Parekh among others #jeffbezos #amazon #india
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Founders please stop calling your rounds Pre Series A and Pre Series B. There is no such thing. Also it makes me sure that your company wasnβt able to raise what they set out to raise. .
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The SoftBank congregation!
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Bengaluru-based startups like fintech player @instamojo , edtech platform @unacademy @gauravmunjal , urban mobility firm @Bounce, social commerce firm @Meesho_Official & @zerodhaonline have asked their staff to mandatorily work from home. #COVID2019 #WFH.
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π¨π¨Much is happening in the Indian venture capital industry. Exits of partners, secondary sale of portfolio, rise in secondary deals & some funds raising more capital. Over the last few weeks weβve had expansive coverage, news breaks, followed by others π§΅.
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Whatsapp is down? All this while I was thinking itβs my WiFi.
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π¨π¨Breaking now: 1. Byjuβs key board members resign: sources .2. Representatives from Peak XV ( formerly Sequoia Capital india), Prosus and Chan Zuckerberg, on Byjuβs board have tendered their resignation, @ETtech @digbijaymishra1.
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π¨π¨π¨ PharmEasy has informed its board and investors that it plans to raise around Rs 2,400 crore through a rights issue at a 90% lower stock price to help repay its loan from Goldman Sachs, sources aware of the matter told ETtech. Breaking with @digbijaymishra1.
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Quick update-Iβm returning to my old stomping ground,The Economic Times after a decade as we build @ETtech into a cross-media platform for startup & tech news, analysis and insights.Thanks to everyone for your support while I was at The Times of India, hope for more of the same:).
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Ecommerce players were forced to cancel/reschedule lakhs of orders for essential goods, food, groceries medicines on Sunday as local authorities and the police ordered them to shut warehouses, blocked trucks carrying supplies, @Alnoor_ET .
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π¨Reliance Retail has led a $240 million funding round in quick commerce firm Dunzo, according to a statement by the company. Reliance Retail said with an investment of $ 200 million it will own 25.8% stake in Dunzo, @ETtech @digbijaymishra1 @prnvbal.
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@yashpalmurar @bansal_dhanraj @albinder @achlendra @Grofers @Mcf_Faridabad @ArvindKejriwal @mlkhattar @cmohry @sonalgoelias What do you need in written approvals? Essentials goods like food and grocery are allowed exemptions?? Allow it on merit??.
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Swiggy cofounder Sriharsha Majety @harshamjty wins Entrepreneur of the Year at ET Awards for Corporate Exellence
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π¨π¨Monday AM Scoop: Tiger Global is batting for a very different kind of investment in India-away from tech. Per sources in the know it is in talks to invest in the Indian Premier League franchise Rajasthan Royals. Deal details in the story.
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My chat with an experienced CEO who has seen many economic cycles. Me: How are Indian founders dealing with the downturn?.CEO: What the world markets are saying is βI donβt care about revenue, I only care about EBITDA.β Many founders are searching for the full form of EBITDA ππ.
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Tiger is not buying a stake in the Indian cricket team. They are in talks to invest in an IPL franchise Rajasthan Royals. Even if youβre not crediting the original source of the info, at least get the copy paste part right.
Tiger Global Poised to Buy $40MM Stake in Indian Cricket Team. Quite a pivot when you miss the entire tech rally.
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π¨π¨Reliance Retail has acquired Urban Ladder for a cash consideration of Rs 182.12 crore giving it 96% stake. Reliance Retail has a further option of acquiring the balance stake, taking its shareholding to 100% of UrbanLadder, @ettech.
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How much have you saved by not paying your domestic help and staff? What a shame!!.
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π¨π¨NEWβ SoftBank is looking to write $20-30M cheques on the back of a bunch of its portfolio companies going company & clocking big gains, says Sumer Juneja. Itβs sitting on $2 billion unrealised gains on liquid stocks of Firstcry, Ola Electric and Unicommerce. More IPOs lined.
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π¨π¨AM Scoop: Startups and VC funds are back under the Income Tax scanner. A group of startups tell us that theyβve received notices and tax demands in some cases after submitting all docs. This is under Section 68 of the I-T Act and different from Angel Tax notices, demands.
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π¨π¨#ITC to acquire D2C health food brand Yoga Bar. ITC will acquire 100% of Yoga Bar over a period of three-four years. 47.5% stake in SFPL will be acquired, in tranches, by March 31st, 2025; and the balance stake will be acquired, basis pre-defined valuation criteria,.
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This morning I spotted my cook shooting a video in the kitchen. Her smartphone phone π± perched on top of the cooking pan π€¦π½ββοΈπ€¦π½ββοΈ as she made some pasta. I asked her what she was doing? She says sheβs uploading the video on TikTok.
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π¨π¨Big news coming from the Tata group. Titan buys remaining 27% stake in CaratLane for Rs Rs 4,600 cr.The latest transaction ascribes a valuation of Rs 17,000 cr to CaratLane, among the largest exits for an Ecomm founder after Flipkart . @pranavmukul @digbijaymishra1 @ETtech.
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From last evening when we hosted an evening with Sam Altman in New Delhi. What a rare sighting this was. Billdesk cofounder MN Srinivasu, popularly known as Vasu, along with @harshilmathur cofounder Razorpay.
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π¨π¨.@zomato has elevated Mohit Gupta, CEO, Food Delivery, by making him a cofounder. @deepigoyal said in an email sent Sunday. that makes it four cofounders at the company, @ettech
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Where did you shop during the e-shopping sale last few days?.
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π¨Some good news in these trying timesβIβm super excited to announce that @digbijaymishra1, my former colleague at @timesofindia is joining @ETtech. Digbijay is among the finest reporters covering the ever changing & fast paced technology and startup world. Pls welcome him!.
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π¨π¨AM Scoop: Logistics focussed software startup Loginext, where Tiger Global owned almost 50%, has sold its assets for a paltry $250K after raising $50 million in funding. We have all the details of the board resolution which passed the winding down and liquidation of the.
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π¨π¨Friday PM scoop. β¦@getpostmanβ© SaaS startup Postman is in talks with Insight Partners to raise funds at $2B valuation, w/ β¦@Alnoor_ETβ©
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π¨π¨About a year ago Mukesh Bansal and Mohit Gupta came together to build a fashion startup. This was to be housed under Meraki Labs, run by Bansal. Funding talks were on to raise capital at the hold co level & separately for a few ideas.
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π¨NEW: South Park Commons is setting up an India outpost for which it is working with Flipkart cofounder Binny Bansal. Ruchi Sanghvi and Aditya Agarwal will bring an early-stage incubation and venture project to India, they told me. Agarwal is also working with the Adani group.
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The big reveal this Monday AM. π π Zerodha is The ET Startup of the Year 2020. From being Bootstrap Champ to winning the most coveted award, what a run for the countryβs largest brokerage firm. Congratulations! @Nithin0dha
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π₯π₯VCs in India would die to hear this definition of unicorns. $1 billion of revenue for 100 Startups.
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π¨π¨AM Scoop: Flipkartβs top-deck is under pressure, shakeup underway in the top ranks as CEO Kalyan Krishnamurthy pushes for efficiency, agility, wants to cut top-heavy org structure. Many see this as 2016 all over again at Flipkart after years of exuberance. W/@digbijaymishra1.
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π¨π¨Sequoia Capital has announced a $1.35B fund for India and Southeast Asia. the two new Sequoia India funds: a $525M venture fund and a $825M growth fund will investor along its Surge fund. .
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Rs 1.25 lakh crore withdrawn by #EPFO subscribers till May 2 indicating the massive formal sector job losses due to the pandemic, @YogimaSethET Hardships faced by the salaried: 35 million workers tapped provident fund accounts since April 2020.
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Only Rs 5 crore worth of shares for Wiproβs number 2 exec ( now CEO)β¦ someone who has been with the IT major for three decadesβ¦.
CEO Srinivas Pallia sold all his #Wipro shares before taking charge. Read more at:. By @BekaarNews.
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Today my housemaid asked me which apps to download to buy a sari for herself. Iβd bought her one from an online store sometime back.She said itβs too inconvenient & time consuming to go to physical shops. Awesome insight into how consumer behaviour is changing across segments.
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π¨π¨EXCLUSIVE: Sahil Barua, founder & CEO, Delhivery spoke to us on the rise of quick commerce and why the unit economics of ultra fast deliveries wonβt make sense in the long run. He also spoke about growth moderating for Delhivery, issues surrounding SpotOn merger, their rapid.
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Itβs hard to recall a more unsportsmanlike event. It's shameful what US Open did to Naomi Osaka via @nypost #SerenaVsOsaka #UsOpenFinal #serenawilliams.
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Okay, so Iβm calling out the bubble in the online lending sector. Is there any internet company which is not seeking to become a lender? **Someone tell me why anyone who has any sort of user data thinks they can start to lend? What next? What are the recovery mechanisms?.
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π¨π¨π¨As reported by us firstβ Tata Digital invests in Curefit, Mukesh Bansal to join as Tata Digital president.
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Acc to me, 2022 will be a lot like 2016β17, and no-one will be surprised to see that happen after the excesses of the past one year. ππ½ββοΈ Question still remains- after so many yearsβon how do you make money on food-delivery- 10min or 30min is irrelevant.
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π₯π₯Coming super late on this but Iβm so excited to welcome @tenzin_pema to ET Digital. Tenzin is a βοΈ. She will be playing a key role in the revenue team at But will also help us @ettech with her years of editorial experience. welcome on board π
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Iβm stoked to formally welcome 2 super fiesty reporters to @ETtech While they both have been in the ET ecosystem, youβll see their bylines every other day now on #ETtech. Follow @ShephaliBhatt for all tech culture stories & @Ashwinnair78 to get your daily dose of fintech news!.
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Itβs here!! India's biggest celebration of startups is back in Bengaluru todayβ¦ So excited to welcome our guests in-person in the next few hours from nowβ¦ #ETStartupAwards @ettech @EconomicTimes
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ETtech Catalyst: Dear founders, itβs ok to give yourself a break, writes @anandlunia. Anand & I had a long chat about this yesterday and I insisted he put this out for the larger ecosystem to consume.Thanks Anand for doing this amid the toughest of times.
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This has been a conversation starter with so many founders, investors and others Iβve met this past week. Wrote an edit piece summing up my thoughts. Getting tons of feedback since early AM, thanks for reading. @ETtech OPINION:
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π¨π¨ETtech Exclusive: Lendingkart, a 10- year old MSME-focused lending platform is in a crisis signalling the stress in the unsecured loan market. Weβve learnt that its largest shareholder Fullerton Financial Holdings, owned by Temasek, is looking to take over the fintech in a.
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Amid all the gloom & doom there are things be grateful for. Last evening my husband and I were able to book a slot on CoWin for our first dose of vaccination at the BKC centre. Iβm extremely thankful to everyone esp the volunteers at this efficient, well organised facility 1/n.
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Follow @ETtech for all the breaking news, insights and smart analysis on the business of #technology and #startups from the newsroom of The Economic Times. Get the dish on the buzziest companies & stay on the inside track with some of the most wired reporters.
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Super excited to welcome Patanjali Pahwa @Vegan_Shakes to The Economic Times. Patanjali joins the very buzzy Emerging Biz & Startup team.
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Following Netflixβs lead, nearly every major video company is moving into the streaming media business. And that means also moving their content off Netflix and onto their own services.
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π£π£ β° βThe Rundown by ETtechβ, has a special guest @cz_binance to discuss Beyond BitcoinΒ --Β Blockchains, NFTs and the future of crypto in India. Also on the show @joel_john95, @eth_us, and @jrtechlaw. Mar 19 at 9:00 PM India time on. Join us! @Appy2209.
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The deal is done. RILβs Reliance Retail has acquired majority stake in pharma market place Netmeds. for Rs 620 crore in cash giving it a 60% stake in the patent company Vitalic. .
Also being told that RIL-Nedmeds deal is more like $150 M, all-cash and early investors and angels have already exited the Chennai-based epharmacy company. 3/n.
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π¨π¨As reported by @BiswarupG_ET first Byju's makes a $300 million offer to acquire WhiteHat Jr. Deal is done!! You read it first on @ETtech
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Been told by many people that individuals/families are hoarding on oxygen cylinders. Please, please donβt do that. Youβre denying someone who needs oxygen: itβs about life and death. .
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What a terrible, terrible day this has been. After @pankhuri16βs untimely demise, was just informed about @naren_nexusβs passing awayβ¦ 2021 really wtf. .
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π¨π¨So glad to welcome @PratikBhakta_89 who joins @ETtech today. This is going to be his second stint at ET, and I could not be happier to work with him again. Pratik will continue to focus on digital-focussed financial services as we double down on our fintech coverage ππ.
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I want to talk to more women in VC, Startups, finance for our stories and our overall tech coverage here @ETtech. Please DM me for a general chat. I have been thinking about how little interface we as journalists have with women cos they are not in senior roles. Thanks.
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With the passing of Vashishtha Narayan Singh, India β and the world β lost a true mathematical geniusβThe Economic Times
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.@mybmc mybmc has done a fabulous job of running the BKC centre. We were in and out in an 45 mins. This included the 30 min mandatory observation post inoculation. Thank you to everyone who is making this happen. ππ½ππ½
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