Page 11 - Pine Labs News Today

Fidelity has cut Meesho’s valuation from $5 billion earlier to $4.1 billion. Pine Labs, Fidelity said, was valued at $3 billion down from $4.7 billion previously

As per the filings, Fidelitys funds have set Meeshos fair value at around $4.1 billion as of October 31, 2023, down from around $5 billion as of end-August. Meesho was last valued at $4.9 billion after raising $570 million in 2021.

Edtech startup Eruditus , based in Singapore and backed by SoftBank, is considering a return to India and aims...

Edtech unicorn Eruditus is planning a shift in domicile from Singapore to India, or reverse flipping, and joins the growing list of Indian internet firms — Pine Labs, Udaan, Razorpay and Groww, among others. Eruditus is evaluating a listing on the domestic bourses.

Indian IT majors are eyeing upcoming US federal contracts as several large deals are set for renewal in the next two quarters. While it is still challenging for Indian companies to win these contracts, there is a more positive attitude towards Indian-heritage suppliers.

Indian startups are hoping for a better year as the majority of them expect higher valuations from investors amid increased focus on profitability and sustainable operations, a recent report stated.

VCs, armed with record dry powder in a buyer’s market, are sharpening the focus on unit economics as green shoots in funding activity emerge. Is it signalling the beginning of the end for the funding winter?

Total expenses for Cashfree more than doubled to Rs 750 crore during the year, mainly on account of employee costs jumping to Rs 198 crore from Rs 96 crore in the previous fiscal.

Pine Labs and Udaan are the latest to plan shifting their holding companies to India with an eye on the long term. They join several other well-funded and highly valued startups that are moving their overseas holding companies to India — or ‘reverse flipping’ ahead of listings.

Payments firm Pine Labs, which is based in Singapore, plans to seek board approval this quarter to move its parent company to India, according to people in the know.