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News on Medial
At $5 billion, startup’s exit street buzzier in 2024
Economic Times
·
7m ago
Medial
Investors in Indian startups made more than $5 billion in exits in 2024, primarily through secondary transactions like IPOs and block deals. This trend is expected to continue in 2025, with the number of new-age IPOs likely to double. Secondary transactions have become a popular way for investors to generate liquidity while attracting new investors. Startups like Swiggy and FirstCry have seen significant exits through IPOs and block deals. The focus on smaller IPOs is expected to provide more investment options and release liquidity for existing investors. New venture capital firms are also emerging with a focus on secondary investments. Companies like Bluestone, Ather Energy, and Ecom Express are planning IPOs in the coming year. Overall, funding in Indian startups has seen a revival in 2024, but only a few select assets are drawing investor attention.
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Accenture warns of first-quarter revenue below estimates
Livemint
·
1y ago
Medial
Accenture reported its Q4 revenue of $16 billion, slightly below estimates of $16.08 billion. The company also announced a first-quarter revenue forecast below Wall Street targets, citing high inflation and interest rate pressures. Accenture expects Q1 revenue of $15.85 billion to $16.45 billion, while analysts forecast $16.43 billion. Furthermore, the company's fiscal 2024 adjusted earnings per share guidance fell short of estimates. Accenture shares fell nearly 5% after the announcement.
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PE/VC bets grow 5% to $56B in 2024, current year to be challenging: Report
YourStory
·
6m ago
Medial
Investments by private equity and venture capital grew 5% to $56 billion in 2024 following two years of decline, according to a report by IVCA and EY. The year saw a 54% increase in deal volumes, primarily due to a surge in credit deals. However, a challenging 2025 is anticipated due to potential global policy impacts and slowing Indian consumption. There was a 34% decline in new fundraises, while exit deals totaled $26.7 billion, aided by capital market conditions.
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Schneider said to be in talks to buy Temasek’s stake in Indian JV Schneider Electric
Economic Times
·
25d ago
Medial
Schneider Electric SE is in discussions to acquire Temasek Holdings' 35% stake in Schneider Electric India Pvt for approximately $1 billion, potentially valuing the venture at around $5 billion, including debt. Temasek has been considering its exit options, which could include a sale or an initial public offering. Schneider Electric, which owns 65% of the joint venture, is focused on expanding in the Indian market amidst growing merger and acquisition activity.
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OpenAI Co-founder Ilya's startup seeks $20 bn valuation: Report
Inshorts
·
6m ago
Medial
OpenAI Co-founder Ilya Sutskever's startup Safe Superintelligence (SSI) is in talks to raise funding at a $20 billion valuation, Reuters reported. The startup, which has not generated any revenue yet, raised $1 billion in September last year at a reportedly $5 billion valuation. Sutskever launched SSI in June 2024 after leaving OpenAI in May.
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OpenAI co-founder Ilya Sutskever’s SSI valued at $32 billion despite having no product
Inshorts
·
3m ago
Medial
OpenAI co-founder Ilya Sutskever raised $2 billion for his AI start-up Safe Superintelligence (SSI), valuing the company at $32 billion. Greenoaks led the funding round with $500 million. SSI, which currently has no product, last raised $1 billion at $5-billion valuation in September 2024. Meanwhile, OpenAI's ex-CTO Mira Murati's AI startup Thinking Machines Lab is targeting $2-billion seed round.
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Zodius exits OfBusiness with $100 million+; Z47 may part-sell too
Economic Times
·
9m ago
Medial
Early investor Zodius Capital has made a complete exit from B2B ecommerce firm OfBusiness through a secondary share sale worth around $100-120 million. Zodius Capital had initially invested $8 million in OfBusiness in 2016 and has now gained over $100 million in returns. Z47, another early investor, is also looking to sell its stake worth at least $50-60 million. OfBusiness, valued at $5 billion, plans to go public next year with an IPO size estimated between $750 million and $1 billion. Co-founder Nitin Jain is reportedly exploring a new venture in the artificial intelligence space.
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Lam Research beats quarterly revenue estimates on surging AI chip demand
Economic Times
·
3m ago
Medial
Lam Research exceeded Wall Street expectations for third-quarter revenue, driven by strong demand for advanced AI chips, boosting its shares by 4.5% in extended trading. This demand leads major chip manufacturers, like Taiwan Semiconductor Manufacturing Co., to increase orders, benefiting suppliers like Lam. It posted $4.72 billion in revenue, surpassing analyst estimates. Despite U.S. export controls challenges, Lam's outlook remains strong, expecting fourth-quarter revenue of $5 billion. Its systems revenue reached $3.04 billion for the quarter.
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Lenskart May See 20% Increase In Valuation In New Share Sale
Inc42
·
8m ago
Medial
Lenskart, the Indian eyewear startup, is in discussions with its current investors to raise $200-300 million through a secondary share sale. This funding round would value Lenskart at $6 billion, a 20% increase from its previous valuation of $5 billion. In the fiscal year 2024, Lenskart reported a net loss of INR 10 crore while generating operating revenue of INR 5,428 crore.
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Zepto nears $350M secondary share sale to increase domestic ownership
YourStory
·
2m ago
Medial
Zepto, a quick commerce unicorn, is nearing a $350 million secondary share sale, valuing it at approximately $5 billion. A major domestic entity has committed $100 million, while additional funding will come from family offices and mutual funds. This transaction allows foreign investors to exit partially. Indian ownership aims to increase beyond 50% before Zepto's IPO, boosting its ability to run an inventory model. Founders have secured Rs 1,500 crore to enhance their holdings.
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Prosus-owned PayU targets India IPO filing in February, hires bankers
Economic Times
·
1y ago
Medial
Payment gateway provider PayU, owned by South African conglomerate Prosus, is planning to file for an IPO worth at least $500 million in India. PayU offers various services including buy-now-pay-later and competes with Razorpay and PhonePe. The company has appointed Goldman Sachs, Morgan Stanley, and Bank of America as advisors for the IPO, which is expected to value PayU at between $5 billion and $7 billion. The IPO is planned to be listed by the end of 2024.
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