Zomato shares rally 8%📈
Zomato shares rally 8%📈
Rapido raises $200 million, Swiggy's 11% rise in FY24 revenue, Nvidia loses $279 billion in m-cap, Funding Deals and more.
Good morning and welcome to Thursday’s edition of Rise & Shine!
"Leaders never use the word failure. They look upon setbacks as learning experiences.”
— Brian Tracy
Today, Brian Tracy's perspective on leadership and setbacks offers a refreshing approach to facing challenges head-on and turning them into opportunities for growth.
This attitude fosters resilience, innovation, and a proactive approach to problem-solving.
Tech Updates
Rapido raises $200 million in funding led by WestBridge; valuation jumps to $1.1 billion
Bike-taxi platform Rapido has raised $200 million in a financing round that values it at $1.1 billion. The funding round was led by Rapido's existing backer, WestBridge Capital, which has pumped $120 million -- as reported by ET in July -- in addition to participation from Nexus Venture Partners and new investors, San Francisco-based Think Investments and New York-based Invus Opportunities.
Zomato shares rally 8% as JPMorgan hikes target price to Rs 340
Shares of Zomato rallied 7.6% on the BSE today, reaching an intraday high of Rs 261.50, after JPMorgan raised the stock’s target price to Rs 340 from Rs 208, while maintaining an overweight rating.
Swiggy delivers 11% rise in FY24 revenue; net loss down 44%
Public markets-bound food and grocery delivery company, Swiggy, has reported a 36% year-on-year (YoY) increase in its operating revenue to Rs 11,247 crore for FY24, driven by strong growth in its quick commerce vertical Instamart and out-of-home consumption business, according to the company’s annual report.
Nvidia sheds $279 billion in market cap
Shares of chip titan Nvidia tumbled 9.53% on Tuesday with investors turning cautious over the artificial intelligence (AI) frenzy. The company’s market capitalisation declined by $279 billion, marking the steepest single-day fall for an American company.
Funding Deals
RecommerceX, a chemical recycling and sustainability startup, has raised $3.6 million in seed funding round led by venture capital firm Accel and Kae Capital.
Invest4Edu, a platform which offers education planning, saving and investment services, has raised $3 million in its seed funding from family offices.
Sports-tech startup Spolto has raised $1 million (nearly Rs 8.4 crore) in a seed round led by Andrew Johnston and others.
B2B financial management platform Valyx has raised $800K in its pre-seed funding round co-led by Huddle Ventures and Waveform Ventures. The round also saw participation from notable investors including Bharat Founders Fund and Propell Fund (LetsVenture’s in-house VC fund led by Shanti Mohan).
GenZ-focused 60-minute clothes delivery app Slikk has raised $300K in its pre-seed round led by Better Capital, with participation from Untitled Ventures.
🎡 Short Story: The Project Turnaround
Jordan, a project manager, led a team that was underperforming. The project was critical, and the initial results were not meeting expectations. Rather than labeling the situation a failure, Jordan saw it as a crucial learning moment. He organized a series of workshops for his team to analyze what went wrong and brainstorm improvements.
These sessions allowed the team to open up about various hurdles and inefficiencies that were previously overlooked. By redefining these setbacks as learning experiences, Jordan and his team were able to implement new strategies that significantly improved the project’s outcomes. This not only salvaged the project but also enhanced the team’s skill set and morale.
Tweet of the day🐥
As you tackle your tasks today, remember to adopt a leader’s mindset towards setbacks. See them as invaluable learning opportunities that can pave the way for future success.
Rise & Shine is here to remind you that with the right perspective, every setback can lead to greater strength and wisdom.
Have a resilient and enlightening Thursday!
Thanks for reading till the end!