BYJU's at 99% Valuation Cut📉
BYJU's at 99% Valuation Cut📉
Critical Sectors' Crisis Plan, Meesho in Credit & Grocery Play, Zomato's Gold Tweaks, More Funding Buzz and Coelho's wisdom.
Hello, Truth Seekers and Success Architects!
"If you want to be successful, you must respect one rule – Never lie to yourself."
- Paulo Coelho
Picture a path to success paved with honesty, where the foundation is built on the truth you tell yourself.
Join us as we explore the transformative philosophy that success begins with the courage to confront your truths.
Get ready to embrace authenticity on the journey to achievement.
Tech Updates
Byju’s seeks $200 million in rights issue at 99% valuation cut
Cash-strapped edtech firm Byju’s has kickstarted a rights issue to raise $200 million, per a notice sent to its investors. The fundraise will ascribe a valuation of around $20-25 million, the biggest valuation cut for an Indian startup. Post a successful rights issue, it will be valued at around $225 million — a 99% cut from its peak of $22 billion.
Critical sectors may be asked to have a common crisis management plan
Public and private companies in banking, telecom, power and energy, public health, and other sectors that deal with or possess critical information infrastructure might soon be mandated by the government to stick to a common ‘cyber crisis management plan’ when dealing with cybersecurity incidents.
Meesho joins carts queued up at credit, grocery counters
In a bid to diversify revenue lines and move toward profitability, e-commerce platforms are starting to enter the world of financial services. Meesho is trying two new business lines in a bid to shore up its revenues: credit marketplace and expanding its grocery offering — once again.
Zomato tweaks Gold loyalty program
Food-delivery company Zomato has tweaked its loyalty program, Gold, by discontinuing ‘on-time guarantee’ benefits for memberships purchased or renewed from November 25, 2023.
Funding Deals
BluSmart Mobility, an EV ride-hailing service and EV charging hub infrastructure operator has scooped up $25 million in an equity and debt round from Switzerland-based ResponsAbility.
ClearTrust, a new-age ad tracking and fraud detection platform, has raised $1.9 million in its pre-Series A round led by Ideaspring Capital with Piper Serica Angel Fund participation. Existing backer Alacrity India also participated in the round.
Sustainable baby essential startup Moms Home has raised Rs 5 crore in a pre-Series A round led by Mumbai-based Mistry Ventures.
Retailer-focused digital inventory platform Arzooo has raised an undisclosed amount in its extended Series B funding round from its existing investors including Japan-based SBI Holdings, Trifecta Leaders Fund, Celesta Capital, and 3 Lines VC.
🎭 Short Story: The Canvas of Authenticity
In a vibrant city, an artist named Alex lived by Paulo Coelho's wisdom.
Alex, creating masterpieces with raw authenticity, inspired the community to embrace the truth within.
Inspired by Alex's genuine approach, the city began to see that success wasn't just about external achievements but a canvas painted with the hues of self-honesty.
Tweet of the day🐥
As we conclude this edition, reflect on the role of honesty in your pursuit of success.
Stay tuned for a fresh perspective that encourages decisive steps toward your goals.
Thank you for being part of our community, where together, we navigate the path to success with honesty and authenticity.
Feel free to share it with someone who could use a little inspiration. Let's pass on the good vibes and make someone's day!
Thanks for reading till the end!
Subscribe to R&S🌞