Synopsis
Goyal says Zomato spent almost one-third the money compared to competition to get here and has been very efficient..
ETtech
Bengaluru | Mumbai:
Zomato, the
first Indian unicorn to list on the bourses last month, will continue to chase growth and build a long-term business, cofounder Deepinder Goyal told ET, undeterred by questions raised on the food-delivery and restaurant-discovery platform’s profitability and eye-popping valuation.
The 38-year-old chief executive said that “life hasn’t changed drastically” after the company raised more than $1 billion from the public markets last month, vaulting it to the top league of publicly traded firms in India.
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Sequoia elevates five execs to managing director position
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Last Updated: Jul 30, 2021, 03:33 PM IST
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Ashish Agarwal and Harshjit Sethi from Sequoia Capital’s venture team, and Tejeshwi Sharma, Ishaan Mittal and Sakshi Chopra from the growth team will be elevated to managing-director rank.
ETtech
(From left) Ashish Agarwal, Harshjit Sethi, Sakshi Chopra, Ishaan Mittal and Tejeshwi Sharma, new managing directors of Sequoia Capital.
Mumbai: Silicon Valley’s marquee venture capital fund, Sequoia Capital, has promoted five of its executives to the position of managing director, as it further bulks up its leadership team amid unprecedented dealmaking in the country’s startup ecosystem.
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Fintech firms set for IPOs but face challenges
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ETtech
India’s
fintech sector is set for landmark Initial Public Offerings (IPOs) in the next five months as at least three startups – Paytm, Mobikwik, Policybazaar – are likely to raise up to Rs 28,000 crore ($3.7 billion) through public offers betting on favourable market dynamics where both institutional and retail investors are operating with abundance of liquidity.
According to industry experts, successful listings by these fintech companies could trigger a larger number of homegrown fintechs to make their debuts on Indian exchanges in the coming years mirroring the trends set by foreign counterparts listed on Nasdaq of the United States and China’s Shanghai Stock Exchange over the last two years.