UNACADEMY DIVERSIFICATION PLANS
Ideaforge opens to bumper listing; Nykaa sees beauty, fashion biz grow despite slowdown
Dronemaker Ideaforge had a stellar opening, with the stock nearly doubling in value from its issue price on both bourses. The lack of listed competitors and the company’s market leadership saw investors across categories making a beeline for the issue. This and more in today’s ETtech Top 5.
Correction just getting started, says Alpha Wave; early-stage deals bloom in ‘funding winter’
This, he said, has left the fund perfectly poised to land deals for “outstanding companies at sane prices” as it believes the correction in private markets has only just begun.
Software firms want new rules for govt contracts
A rule for government departments and ministries that was meant to encourage Indian companies has ended up excluding foreign firms from software and cloud-related projects, leaving many government departments with no bids for such tenders.
Insurers vs Aggregators
In today’s ETtech Morning Dispatch: Unacademy raises $440 million at $3.4 billion valuation to fuel its diversification plans, IndiaTech asks Sebi to tweak rules on SR shares, and Zomato rolls out an incentive scheme for delivery partners.
Unacademy valued at $3.4 bn post new funding, will diversify beyond edtech: CEO Gaurav Munjal
Unacademy’s cofounder Gaurav Munjal plans to use the new funding to build new lines of business in segments such as jobs and hiring, where it will compete with the likes of Naukri.com and Linkedin.
