In late March last year, as the virus started to spread across India, investors began to worry about the impact a potential pandemic could have on their portfolio firms. They exchanged notes, and on April 1, penned a joint open letter to the local startup ecosystem, advising firms to “prepare for the worst.” In the […]
What happened to Paytm’s IPO valuation?
Paytm’s IPO price was simply too high compared to its recent financial results. Trailing results matter as well, and Paytm’s were just too weak to support its IPO price.
Equity Monday: Paytm’s rocky debut gets rockier
Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Happy Monday everyone, and welcome to a holiday week here in the United States. Yes, we here in the good ol’ States will be off the second half of this week. TechCrunch won’t […]
India’s Paytm makes market debut
A decade ago, Vijay Shekhar Sharma flew to Hong Kong to attend an All Things D conference. At the event, he watched Silicon Valley executives Jack Dorsey and Brian Chesky talk about the firms they were building. But the conversation that would change the trajectory of his firm, One97 Communications, was an interview of Alibaba […]
Bankers chase Byju’s for IPO, valuation pegged up to $50 billion
Nearly every top investment bank is chasing Byju’s and nudging the most valuable Indian startup to seriously explore the public markets as soon as next year. Most banks have given Byju’s a proposed valuation in the range of $40 to $45 billion, but some including Morgan Stanley have pitched a $50 billion valuation if the […]
Zomato’s losses widen in first quarterly earnings since IPO
Zomato’s losses more than tripled in its first quarterly earnings report since its listing last month as the company’s expenses grew and the pandemic hit the firm’s dining-out business. The Gurgaon-headquartered firm reported (PDF) a net loss of $48 million in the quarter that ended in June, up from about $13.5 million during the same period […]