PROSUS GROUP
Ecom Express targets $170 million via rights issue Ecom Express plans a $170 million rights issue with existing investors. Revenue grew 20% in FY23 despite widening losses. The company postponed a public listing like Delhivery and Xpressbees. Serving Meesho, Ecom Express ventures into quick-commerce...
25 Jun, 2024, 03.12 PM ISTProsus writes off Byju's stake; Swiggy, PayU India report card Dutch investment major Prosus said its investment in Byju’s is worth zero. This and more in today’s ETtech Top 5.
24 Jun, 2024, 08.33 PM ISTProsus writes off investment in Byju's marking $493 million loss Prosus writes off 9.6% stake in Byju's worth $493 million due to value decrease as per HSBC note. Also marks investment in Primrose Hill (ZestMoney) to zero against $38 million FY22.
24 Jun, 2024, 08.29 PM IST- ADVERTISEMENT
HSBC estimates Prosus stake in ecommerce unicorn Elastic Run at $200 million HSBC, in a research note dated May 21, nearly halved the valuation estimate for B2B company Elastic Run, pushing its valuation below the $1-billion 'unicorn' mark. The startup, backed by SoftBank and Prosus, was last valued at $1.5 billion in 2022.
22 Jun, 2024, 02.01 PM ISTProsus stake in Byju’s worth zero: HSBC This comes at the time of Byju's controversial $200 million right issue at 99% discount to its peak valuation of $22 billion, meaning any investor not investing in the rights issue will see its holding wiped off.
08 Jun, 2024, 12.16 PM ISTNCLAT dismisses appeal by investors against Byju’s The National Company Law Appellate Tribunal has rejected an appeal filed by a group of investors of Byju’s seeking intervention in the case between the two parties in the National Company Law Tribunal (NCLT). These investors had requested an order t...
06 Jun, 2024, 08.03 PM ISTByju's processes employees' May salaries from business collections BYJU'S processed employees' May salaries from business collections. Salaries paid from company's collections, highlighting financial health and debt-raising challenges. Company raised debts, implemented strategic initiatives. Investors, including Pr...
03 Jun, 2024, 02.40 PM ISTDelhivery slides back to losses; Prosus names new CEO Logistics startup Delhivery fell back into the red for the March quarter but managed to narrow its losses on a year-on-year basis. This and more in today’s ETtech Top 5.
17 May, 2024, 08.41 PM ISTSwiggy, Meesho investor Prosus and parent Naspers name Fabricio Bloisi as CEO Fabricio Bloisi appointed chief executive of Prosus and Naspers, succeeding Bob van Dijk. Bloisi, current CEO of iFood, a food delivery business in Latin America, will start on July 1. Interim CEO Ervin Tu has been appointed president and chief inve...
17 May, 2024, 01.51 PM ISTSwiggy IPO: Food-delivery major secures shareholder nod for potential $1.25 billion public offering Swiggy IPO: Swiggy plans to raise up to Rs 3,750 crore ($450 million) in fresh capital, in addition to an offer-for-sale (OFS) component of up to Rs 6,664 crore ($800 million). The food-delivery major is also looking to raise about Rs 750 crore from...
25 Apr, 2024, 08.08 PM ISTByju's investors file SC caveats on rights issue The four investors - Prosus, Sofina SA, Peak XV Partners Investments, and General Atlantic Singapore TL Pte Ltd - have filed separate caveats in the SC on Monday.
06 Mar, 2024, 12.57 PM ISTGenAI startup Ema secures $25 million in funding led by Accel, Prosus Ema was founded in March 2023 by former Google employees Souvik Sen and Surojit Chatterjee and stands for Enterprise Machine Assistant. It allows enterprises to build generative AI personas and applications internally to bring about automation and i...
05 Mar, 2024, 08.53 PM ISTRead the full text of Byju Raveendran's letter to employees after EGM by investors On Friday, a group of investors unanimously voted to oust Raveendran as the CEO of Byju's and revamp the board, which includes wife and cofounder Divya Gokulnath and brother Riju Ravindran.
24 Feb, 2024, 09.14 PM ISTInvestors move NCLT against Byju’s; file oppression, mismanagement lawsuit A group of four investors of Byju's – led by Prosus – has sought the present management to be declared as unfit to run the company and appoint a new chief executive and change the board.
23 Feb, 2024, 01.34 PM ISTRanjan Pai may put $50-60 million more to grow Byju’s Aakash Manipal chief Ranjan Pai will invest the new tranche of capital sooner in Aakash ahead of key student enrolment season, people aware of the discussions said. Sources at Aakash also said the coaching unit will require additional investment from Pai f...
30 Jan, 2024, 04.31 PM ISTPromoter tag for Prosus in Swiggy IPO; SaaS play for revenue-linked financiers Swiggy's largest investor Prosus is likely to be tagged a promoter in the company as plans for trimming stake ahead of an IPO haven’t materialised. Details of this and more in today's ETtech Morning Dispatch.
23 Jan, 2024, 09.24 AM ISTGood Glamm, Shoppers Stop ink collaboration for omni-channel retail Sukhleen Aneja, chief executive officer at Good Brands Co, owned by Good Glamm Group, said: “We look forward to expanding this collaboration subsequently to other products to tap into a broad consumer base.”She added the collaboration, once expanded...
11 Dec, 2023, 03.44 PM ISTTata Tech’s blockbuster market debut; Elon Musk attacks advertisers for boycotting X Tata Technologies made a blockbuster debut on the stock markets today, listing at an impressive premium of 140% over its IPO price of Rs 500 per share. This and more in today’s ETtech Top 5.
30 Nov, 2023, 08.02 PM ISTByju’s valuation below $3 billion; company facing challenges: Prosus interim CEO Late last year, Prosus said it had ceased equity accounting of Byju’s as it had lost “significant influence” over the firm after its holding slipped below 10%.
29 Nov, 2023, 07.13 PM ISTProsus reports $2 billion in core earnings, sees ecommerce profitability earlier Core headline earnings for the six months ended September 30 were $2 billion, from $1.1 billion in the same period a year earlier, in line with a November 20 trading statement.
29 Nov, 2023, 12.56 PM IST