Byju’s valuation down 95% to $1 billion📉
Byju’s valuation down 95% to $1 billion📉
Nifty IT Soars, Govt's Crypto Warning, Tata Neu-Swiggy HDFC Cobranding, and Funding Updates with words on grand vision.
Hello, Visionaries and Architects of Tomorrow!
In today's Rise & Shine edition, we immerse ourselves in the profound perspective that the future belongs to those who think long-term.
"The biggest overlooked advantage hidden in plain sight is thinking long-term."
Picture a world where each decision is a brushstroke on the canvas of a grand vision.
Join us as we unravel the overlooked advantage of strategic vision, hidden in plain sight, yet often eclipsed by short-term gains.
Get ready to shift your focus to the horizon and embrace the art of thinking long-term.
Tech Updates
BlackRock slashes Byju’s valuation to $1 billion, down 95% from $22 billion, says report
Asset manager BlackRock has once again reduced its valuation of Indian ed-tech unicorn Byju’s, this time by around 95 percent from $22 billion to $1 billion, as per a Tech Crunch report citing company disclosures. At $22 billion, Byju's was India's most valuable start-up.
Nifty IT Index up 4%, hits 52-week high; Infosys rises 6%, TCS 3%
Nifty IT Index gained more than 4% in the morning trades on Friday post results declared by Tata Consultancy Services and Infosys on Thursday. The Nifty IT Index also scaled 52-week highs with Infosys seeing its share price rise almost 7% while TCS share price was up more than 3%.
Govt may ban offshore crypto trading apps if found guilty of PMLA violations
The Indian government could take further action, including a possible ban, on Indian operations of offshore cryptocurrency apps such as Binance if they are found guilty under the Prevention of Money Laundering Act (PMLA), a senior official told ET.
Cobranding with Tata Neu, Swiggy widens HDFC Bank cards’ reach
As banks ride the credit card bandwagon, consumer-focused technology startups are increasingly building cobranded card propositions with them to gain from the situation. HDFC Bank, one of India’s largest lenders, has issued a million credit cards with Tata Neu, the super app by the Tata group. It has also issued around 120,000 cards with food-tech major Swiggy.
Funding Deals
Edtech company ConveGenius has raised $7 million (about Rs 58 crore) in a Series A round co-led by UBS Optimus Foundation and Mount Judi Ventures. The round also witnessed the participation of its existing investors Michael & Susan Dell Foundation, Bace Capital, Heritas Capital and Gray Matters Capital.
Fashion jewellery brand Salty has raised Rs 5.4 crore in a new round from Anicut Capital, All in Capital, Suashish Diamonds, JK Group and other investors.
Precision animal management and feed practices startup, eFeed, has secured a grant of ₹25 Lakhs from the Indian Council of Agriculture Research, the Government of India.
Upekkha, an early-stage SaaS fund and accelerator has marked the first close of its $40 million fund, raising $15 million from WestBridge Capital. Godard Abel, CEO of G2.com, a B2B SaaS marketplace is among the LPs in the first close.
🏢 Short Story: The Tapestry of Tomorrow
In a picturesque town, a visionary named Elena embraced the wisdom, "The biggest overlooked advantage hidden in plain sight is thinking long-term."
An urban planner, Elena envisioned a city that would stand the test of time. Despite facing the allure of immediate gratification, she strategically planned for sustainable growth.
As the years unfolded, Elena's city became a testament to the power of thinking long-term, where every decision contributed to the flourishing tapestry of tomorrow.
Tweet of the day🐥
As we conclude this week's journey, reflect on the overlooked advantage of thinking long-term.
Anticipate next week's exploration into the philosophy that cautions against letting victories inflate the head or losses burden the heart.
Stay tuned for a fresh perspective to guide you in navigating the delicate balance of triumphs and challenges.
Thank you for being part of our community, where together, we shape a future guided by visionary foresight.
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!
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