Rise and Shine!
Zomato to launch IPO on July 14
Zomato Ltd. will launch its three-day initial public offering (IPO) on July 14, making the online food aggregator one of the national stock exchanges. The company is looking to raise as much as Rs 9,375 Cr by issuing fresh stock and an offer for sale at Rs 72-76 apiece. Zomato is likely to be valued at $9Bn at the upper end of this price band.
Trump announces lawsuit against FB, TWTR.
Former US president Donald Trump on Wednesday announced he will take the lead in launching class action suits against Big Tech companies Google, Facebook and Twitter, and their respective CEOs, challenging the closure of his media accounts in the wake of the January 6 insurrection.
Round up of major startup raises this week —
Online insurance giant Digit raised $200 million from Sequoia, IIFL and others, doubling valuation to $3.5 billion. Premiums have grown 44% to ₹3,200 crores+ over the past year, with nearly 20 million customers served.
Used cars marketplace Cars24 is courting DST Global for a $250 million fundraise, doubling valuation to $2 billion.
Furniture subscription service Furlenco raised $140 million in a Series D, led by Zinnia Global Fund. The business operates in 13+ cities, making ₹100 crores in revenues in 2020, with ₹7.5 crores in profits last year .
Biggest blockbuster raise came from payment processor Pine Labs, which raised $600 million, at a valuation of $3 billion from Fidelity, BlackRock, and others.
Moving on, winners keep winning!!
PharmEasy is working with Softbank to raise another $200 million at a $5.6 billion valuation, barely days after closing a Series F round.
With diagnostics company Thyrocare in its pocket, and the acquisition of Medlife wrapped up, the case for a digital end-to-end care-delivery company is becoming stronger by the day.
Quote of the day :
"Prediction depends on events outside your control.
Creation depends on events within your control.
Don’t guess about the future. Shape it."