Swiggy IPO get bids worth $15 Bn🍕
Happy Diwali from Rise & Shine, MSFT revenue up 16%, Datawrkz acquires Space & Time, Funding Deals and more.
Good morning and welcome to Thursday’s edition of Rise & Shine!
"If you want to be successful, I would encourage you to grow a tolerance for failure."
— Jensen Huang
Today, Jensen Huang’s insightful words remind us that the road to success is often paved with failures.
Learning to embrace setbacks can be a powerful step toward achieving our goals.
When we embrace failure, we build resilience and gain the courage to keep moving forward, no matter the challenges.
Tech Updates
Swiggy IPO anchor book oversubscribed 25x; bids worth over $15 billion received from global and domestic investors
Swiggy's Rs 11,300 crore IPO is off to a promising start, with the food and grocery delivery giant’s anchor book seeing substantial interest from both global and domestic investors. The anchor book, set at $600 million, attracted bids totaling $14 billion, resulting in an oversubscription of 25 times. Among the major investors vying for a piece of the IPO are global investment firms Fidelity, Capital Group, and Norges Bank Investment Management.
Microsoft's quarterly revenue is up 16% to $65.6 billion
Microsoft on Wednesday reported financial results that could quell investor unease over its heavy spending on artificial intelligence. Sales from July through September hit $65.6 billion, up 16% from a year earlier. Profit rose 11%, to $24.7 billion. The results surpassed Wall Street's expectations and Microsoft's predictions.
Nazara's subsidiary Datawrkz acquires 100% stake in Space & Time
Nazara Technologies' subsidiary, Datawrkz, has acquired a 100% stake in Space & Time, a UK-based growth marketing agency, for approximately Rs 52.3 crore ($6.2 million) in a combination of cash and stock. This acquisition aligns with Datawrkz’s strategy to expand its presence across Europe and North America, strengthening its position in the global digital advertising market.
Funding Deals
Direct-to-consumer (D2C) fresh foods brand Country Delight has raised Rs 200 crore in venture debt from Alteria Capital.
ARYA, a wholly-owned subsidiary of GPS Renewables, a full-stack biofuels firm, has raised Rs 100 crore of mezzanine financing from InCred Opportunities Fund and Spark Capital.
Coolmate, a Vietnamese ecommerce direct-to-consumer (D2C) men's apparel brand, has secured $6 million in Series B funding led by Vertex Ventures Southeast Asia & India.
🪔✨ Happy Diwali from Rise & Shine! ✨🪔
Wishing you a bright, joyful, and prosperous Diwali! May this festival of lights bring happiness and success to you and your ventures. 🌟
We'll be taking a short break for the festivities and will be back with fresh updates on Monday, 4th November.
Enjoy the celebrations and stay tuned for more insights next week! 🎆
👩🏻💻 Short Story: The Determined Inventor
Emma, a tech entrepreneur, faced countless failures when creating her first product.
Every time a prototype failed, she learned something new and adjusted her approach. There were moments of frustration, but instead of giving up, she used each setback as a stepping stone.
Eventually, her persistence paid off, and her product became a breakthrough in the industry.
Emma’s success was a testament to her tolerance for failure and her commitment to learning from each attempt.
Tweet of the day🐥
Today, remember that success isn’t about avoiding failure but learning from it. Embrace setbacks as opportunities for growth, and keep pushing forward.
Rise & Shine reminds you that resilience is key to turning failures into achievements.
Have a resilient and growth-focused Thursday!
Thanks for reading till the end!