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Zepto sets up new marketplace entity amid restructuring
Economic Times
·
7m ago
Medial
Zepto, a quick commerce firm, has launched Zepto Marketplace Private Limited, indicating a shift from its B2B2C model to a marketplace approach. Previously, Zepto licensed its brand and platform to companies managing consumer sales, sourcing inventory from its parent company, Kiranakart. Founded by Aadit Palicha and Kaivalya Vohra, Zepto aims to become a majority Indian-owned entity, aligning with regulatory scrutiny. The company raised $1.4 billion in 2024 and is preparing for an IPO by shifting its domicile to India.
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Unacademy CEO Gaurav Munjal steps down; Sumit Jain takes charge
Internet
·
2m ago
Medial
Unacademy cofounders Gaurav Munjal and Roman Saini are stepping down, with Sumit Jain taking over as CEO. This change comes amid Unacademy's strategic shift from online to offline coaching. Munjal is focusing on AirLearn, a language learning app, potentially positioning it as a standalone entity. Despite financial challenges and a halted acquisition deal, Unacademy's restructuring efforts have reduced losses. AirLearn is growing rapidly, with significant user engagement and revenue potential.
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Big Reliance Retail investors to hold similar stakes in FMCG entity
Economic Times
·
7d ago
Medial
Reliance Retail is restructuring its FMCG business to consolidate it under New Reliance Consumer Products Ltd, a direct subsidiary of Reliance Industries Ltd. This move ensures that nine global investors holding 13% in the retail business will maintain equivalent stakes in the new FMCG entity. The restructuring is designed to help Reliance raise more funds and enhance the valuation of its FMCG business, which competes with major brands like Coca-Cola and PepsiCo.
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Exclusive: CaratLane Founder Mithun Sacheti Sets Up Investment Firm
Inc42
·
10m ago
Medial
- Mithun Sacheti's brother, Siddhartha Sacheti, is part of the new entity called Finqube. - Finqube is registered in Chennai and will focus on managing investments in early and growth stage companies. - There are currently no plans to launch a separate fund under Finqube Capital. - Mithun Sacheti declined to provide further details about Finqube's plans.
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Flipkart Singapore parent infuses Rs 1,421 crore in marketplace arm
Economic Times
·
1y ago
Medial
Walmart-owned Flipkart has infused Rs 1,421 crore (around $170 million) in its Indian marketplace entity, Flipkart Internet, through its Singapore holding company. This is not new funding but an internal cash transfer. It is the second major fund infusion received by Flipkart Internet from its Singapore-based entities this year. The latest funding takes the total infusion in the marketplace entity to $281 million. Flipkart aims to launch its quick-commerce service and has been working on faster deliveries, including same-day delivery in several cities. Meanwhile, Amazon India has also received funds exceeding Rs 1,000 crore from its US parent company.
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Zepto Likely To Enter BNPL Segment With ‘Zepto Postpaid’
Inc42
·
11m ago
Medial
Zepto is introducing a new feature on its app called Zepto Postpaid. Users can sign up on the waitlist to get early access to this feature. Zepto Postpaid will allow users to make interest-free repayments up to INR 5,000. This announcement comes shortly after Zepto raised $340 million in a funding round, led by General Catalyst, resulting in a valuation of $5 billion.
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Ola IP may transfer to Bhavish Aggarwal family office
Economic Times
·
3m ago
Medial
Bhavish Aggarwal is restructuring his companies by transferring Ola's brand intellectual property (IP) from ANI Technologies to a new holding entity managed by his family office. This move aims to enhance operational agility but faces resistance from ANI shareholders concerned about losing royalty income. Amidst cross-ownership issues, the restructuring aligns with Aggarwal's broader investment plans in capital-intensive ventures like Krutrim AI. Ola's public offering efforts and shifting market dynamics further add complexity to the group's strategic evolution.
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Zepto Joins Reverse Flip Parade; Eyes India IPO In 2026
Inc42
·
1y ago
Medial
Indian unicorn Zepto, backed by Nexus, is considering a reverse flip to India, aiming for registration as an Indian company by 2024 and a public listing by 2026. The reverse flipping structure is yet to be finalized, but Zepto is reportedly exploring a share swap, with shareholders of the Singapore entity receiving shares of the Indian entity. This move aligns with a trend among Indian unicorns to redomicile to India, but challenges, such as tax implications and regulatory approvals, need careful consideration.
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Reliance to transfer all consumer business from Retail to New RCPL
YourStory
·
1m ago
Medial
Reliance is transferring its consumer goods business from Reliance Retail Ltd (RRL) to a new entity, New Reliance Consumer Products Ltd (New RCPL), as part of internal restructuring. The National Company Law Tribunal (NCLT) is overseeing this process, which involves treating the business as a going concern on a Slump Sale basis. This shift aims to provide specialized management and attract different investors for its fast-growing FMCG segment, which includes brands like Independence and Campa.
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New Alibaba Group CEO lays out strategic priorities for staff
Economic Times
·
1y ago
Medial
Alibaba's new CEO, Eddie Wu, outlined the company's two main strategic focuses as "user first" and "AI-driven" in an internal letter. He emphasized promoting young employees, particularly those born after 1985, to form the core of business management teams within the next four years to maintain a "start-up mindset." Wu's priorities come amid Alibaba's significant organizational restructuring. He will also concurrently serve as CEO of Alibaba's cloud computing unit, succeeding Daniel Zhang, with the cloud unit aiming for an IPO by May 2024.
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Indian founders are quitting at a rapid pace
Inc42
·
1y ago
Medial
Over 30 Indian startup founders and CEOs left their roles in 2023 amid challenges like the extended funding winter, economic pressures, and business restructuring. Notable exits include founders from Zomato, ShareChat, Teachmint, and ZestMoney, among others. Some stepped down for personal aspirations or to pursue new ventures, while others left amid governance issues. Second-time founders also contributed to the creation of new startups. The leadership changes reflect the dynamic landscape of India's startup ecosystem in response to evolving challenges.
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