Ashneer launches Crickpe🏏, Tata to inject $2 Bn in Neu💸, Hindenburg strikes again📉
Grover launches fantasy sports app Crickpe, Tata Group looks to inject $2 bn, Hindenburg takes aim at Dorsey's firm, Funding Deals and more.
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Ashneer Grover launches fantasy sports app Crickpe🏏
BharatPe cofounder Ashneer Grover’s new venture Third Unicorn Pvt Ltd has launched a fantasy sports app Crickpe – almost a week ahead of the Indian Premier League (IPL) tournament commencing March 31 onwards.
With this Grover has marked his entry into a space crowded by fantasy sports startups such as Dream11, Mobile Premier League, and My11Circle.
Crickpe, which is a real-money gaming app, users over 18 years of age will able to create a virtual team of cricket players and enter paid contests to earn cash prizes based on the players’ performance in real games.
Tata Group looks to inject $2 billion into super-app Neu💸
Tata Digital may receive an additional $2 billion in funding over two years from its parent as the salt-to-software conglomerate seeks to bolster its digital business, Bloomberg reported.
The fresh capital is aimed at helping Tata Neu fix technical glitches and meet any new spending needs, as per the report.
The conglomerate's new commerce arm allows users to buy groceries and gadgets as well as reserve flight tickets and restaurants from brands under Tata. The app also comes with a membership service and offers financial products such as bill payments, loans, and insurance.
Hot Shorts⚡
Air retailing and payments platform Mystifly has secured $8 million in its pre-Series B funding round led by Corner Venture Partners.
Healthtech SaaS platform Reveal HealthTech has raised $4 Mn as part of a strategic funding round from healthcare-focused venture capital firm W Health Ventures.
HiYo, a D2C startup focused on optimizing the consumer acquisition cost (CAC) model by leveraging engaged communities, has raised $500K (Rs 4.1 crore) in a funding round.
Hindenburg takes aim at Dorsey's payments firm Block, shares plunge📉
Hindenburg Research on Thursday disclosed short positions in Block Inc and alleged that the payments firm led by Twitter co-founder Jack Dorsey overstated its user numbers and understated its customer acquisition costs.
The US short seller, behind a market rout of over $100 billion in India's Adani Group, said in its report that former Block employees estimated that 40% to 75% of accounts they reviewed were fake, involved in fraud, or were additional accounts tied to a single individual.
Block shares fell as much as 22% before paring losses and were last down 14% at $62.61 in afternoon trading.
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