Pepperfry eyes IPO🛋️, MapmyIndia invests in KOGO🗺️, YouTube offers new ways to make money😄
Pepperfry to file draft IPO papers, MapmyIndia invests to create navigation for automotive players, YouTube offers creators new ways, Funding Deals and more.
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Market Watch 📊:
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Pepperfry to file draft IPO papers next quarter for 2023 listing🛋️
Omnichannel furniture seller Pepperfry is looking to file its draft initial public offering (IPO) papers with the Securities and Exchange Board of India (Sebi) between October and December, and aims to list on the stock exchanges next year.
The Goldman Sachs-backed startup postponed its IPO plans earlier this year due to changes in market sentiment, which triggered high volatility.
Meanwhile, Pepperfry – which is among the last few standalone online furniture platforms – reported over 22% growth in revenue from operations at almost Rs 247 crore in FY22.
The startup saw its revenue drop by 10% in FY21 because of Covid-19. It earns revenue from the commissions it charges for sales on its platform.
MapmyIndia invests in KOGO to create navigation for automotive players🗺️
Digital maps provider MapmyIndia has invested $1.25 million to acquire 26.37 percent stake in Kogo Tech Labs to develop a travel and hyper-local platform integrated with maps and navigation for automotive players, with option to raise stake to 50 percent in two years.
By integrating Kogo's gamified travel, outdoors and hyper-local content, community and commerce platform into MapmyIndia's Mappls brand, it will enable automotive original equipment manufacturers (OEMs) in India and globally to increase consumer engagement, brand loyalty and in-vehicle commerce monetisation opportunities.
Hot Shorts⚡
Gifting solutions company Join Ventures has raised $23.5 million (Rs 187 crore) in a funding round led by MO Alternate Investment Advisors, a subsidiary of financial services conglomerate Motilal Oswal Financial Services.
Audio streaming startup Kuku FM has raised $21.8 million in funding led by Nandan Nilekani’s venture fund Fundamentum Partnership.
Math-focused edtech startup Bhanzu has raised $15 million in Series A funding led by Eight Roads Ventures.
Speech technology startup Murf AI has raised $10 million in funding led by Matrix Partners India.
YouTube offers creators new ways to make money😄
YouTube said it is expanding the platform’s monetisation system, the YouTube Partner Program (YPP), to allow more creators to join the programme. It is also introducing new ways for creators to earn revenue through Shorts, and opening up ads monetisation for those who feature music in their videos.
Starting in early 2023, Shorts-focused creators can apply to YPP if they hit 1,000 subscribers and 10 million Shorts views over 90 days, the company said.
These new partners will enjoy all the benefits YPP offers, including ads monetisation across Shorts and long-form YouTube videos. This is another option to the existing criteria where long-form creators can still apply to YPP when they reach 1,000 subscribers and 4,000 watch hours. Creators can choose the option that best fits their channel.
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