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BYJU'S, Swiggy, Meesho valuation cuts: How will it impact ESOPs?

Business Today

Business Today · 2y ago

BYJU'S, Swiggy, Meesho valuation cuts: How will it impact ESOPs?

The valuations of many major Indian startups have been slashed by VCs and investors in the past few weeks. Swiggy’s valuation was cut by Invesco, BYJU’S valuation was slashed by BlackRock, and Meesho’s valuation was reduced by Fidelity Investments. This cutback is also going to impact the value of the ESOPs employees at these startups are entitled to. Read the source article below to know more-

Related News

Swiggy gets a valuation jump, still way below its peak

VCCircle

VCCircle · 1y ago

Swiggy gets a valuation jump, still way below its peak

Swiggy, the popular food delivery unicorn, has received a boost in its valuation after a US-based public markets investor increased the value of its investment. This comes as a positive development for Swiggy, who has previously experienced several valuation cuts throughout the year. Although the new valuation is still below its peak, it indicates a positive outlook for the Bengaluru-based company.

HSBC estimates B2B ecommerce unicorn Elastic Run valuation at $800 million

Economic Times

Economic Times · 1y ago

HSBC estimates B2B ecommerce unicorn Elastic Run valuation at $800 million

HSBC has revised its valuation estimate for several Indian startups, including B2B ecommerce platform Elastic Run, lowering it to $800 million from $1.5 billion. The valuation estimate for etailer Meesho was also reduced by 14% to $2.5 billion, while agritech firm Dehaat's valuation was lowered by 11% to $400 million. However, Meesho is in the midst of a $600 million funding round, which is expected to finalize at a valuation of up to $4 billion. Additionally, HSBC stated that Prosus' stake in Byju's, an edtech company, has no value due to funding challenges and legal issues.

Prosus CEO Fabricio Bloisi landing in August to take stock of business

Economic Times

Economic Times · 1y ago

Prosus CEO Fabricio Bloisi landing in August to take stock of business

Fabricio Bloisi, the CEO of investment firm Prosus, is set to visit India in August. Prosus has invested around $7 billion in India and is the largest investor in food delivery platform Swiggy. Bloisi's visit comes as Swiggy prepares for its IPO and after Prosus wrote off its stake in edtech firm Byju's. During his visit, Bloisi will meet with founders of Swiggy, Urban Company, and Meesho, as well as other investors and bankers. Prosus sees India as a key focus and has several portfolio companies in the country.

IPO-bound Meesho to change Indian parent entity’s name from Fashnear Technologies

Economic Times

Economic Times · 4m ago

IPO-bound Meesho to change Indian parent entity’s name from Fashnear Technologies

Meesho, an ecommerce company preparing for an IPO, plans to rename its Indian entity from Fashnear Technologies Pvt Ltd to Meesho Pvt Ltd to align its corporate and brand identities. The change aims to boost brand recall and stakeholder trust. This follows similar moves by other companies like Swiggy and Urban Company. Meesho has shown strong growth, with a 34% year-on-year increase in orders and a notable rise in market share, despite a slightly reduced valuation.

Another Valuation Cut: Fidelity Now Values Meesho At $3.5 Bn

Inc42 · 1y ago

Another Valuation Cut: Fidelity Now Values Meesho At $3.5 Bn

Asset management company Fidelity has once again decreased the valuation of Indian ecommerce startup Meesho, now valuing it at $3.5 billion. This marks a decline of 29% from Fidelity's previous valuation of $4.9 billion for Meesho. Fidelity had previously reduced Meesho's valuation to $4.1 billion in October. Meesho is now considering expanding into financial services and growing its grocery delivery business in the next financial year.

Swiggy adds fresh ESOPs worth $52 Mn

Entrackr

Entrackr · 4m ago

Swiggy adds fresh ESOPs worth $52 Mn

Swiggy adds fresh ESOPs worth $52 Mn Food delivery and quick-commerce platform Swiggy Limited on Monday announced fresh employee stock options under its Employee Stock Option Plan 2024 for eligible employees. The Nomination and Remuneration Committee passed a circular resolution to grant 12,896,462 ESOPs (Employee Stock Options) to its employees, according to a disclosure filed by Swiggy with the National Stock Exchange (NSE). As per the filings, each stock option will be converted into an equity share. Based on Swiggy's current market valuation, the newly granted ESOPs are valued at Rs 443.4 crore, or approximately $52 million. The development comes three months after it allotted 2.61 crore shares under various ESOP schemes. The company’s paid-up equity share capital also increased to Rs 2.26 crore from Rs 2.23 crore. Recently, Swiggy invested Rs 1,000 crore in its subsidiary Scootsy Logistics for expansion. Scootsy Logistics contributed 42% of Swiggy’s overall revenue in the previous quarter. Swiggy has yet to file its financial results for the last quarter of the last fiscal year (Q4 FY25). During the Q3 FY25, the company recorded a 31% year-on-year growth to Rs 3,993 crore, compared to Rs 3049 crore in Q3 FY24. In the pursuit of growth, the losses for Swiggy grew 39.2% to Rs 799 crore in the same period. After today's trading session, Swiggy's stock closed at Rs 343.85 per share, bringing its total market capitalization to Rs 78,620 crore (around $9 billion). Amid recent market volatility, the company also hit an all-time low of Rs 306.95 on April 7.

Prosus’ Ashutosh Sharma on early-stage bets and potential in edtech despite Byju’s

VCCircle

VCCircle · 1y ago

Prosus’ Ashutosh Sharma on early-stage bets and potential in edtech despite Byju’s

Prosus, a Netherlands-based company, has made significant investments in Indian unicorns such as Swiggy, Meesho, Urban Company, Eruditus, and The Good Glamm Group. Although Prosus has been more cautious in its investments in recent years, it continues to see potential in the Indian edtech sector, despite the dominant presence of Byju's. With investments of nearly $7 billion in Indian companies so far, Prosus' Head of India Investments, Ashutosh Sharma, remains optimistic about early-stage opportunities in the market.

Indian ed-tech giant Byju’s faces total shutdown if insolvency proceeds, says CEO

Livemint

Livemint · 1y ago

Indian ed-tech giant Byju’s faces total shutdown if insolvency proceeds, says CEO

Insolvency proceedings against Byju's, India's leading ed-tech startup, may result in a complete shutdown of its services and force mass employee resignations, according to a court filing. Byju's, once valued at $22 billion, has faced a series of challenges including job cuts, a drop in valuation, and disputes with investors over corporate governance issues. The current crisis follows a complaint from the Indian cricket board over an unpaid sponsorship fee, triggering insolvency proceedings and freezing Byju's assets. The court will review the case on Monday, and Byju's CEO, Byju Raveendran, has expressed willingness to settle the outstanding dues.

Invesco raises IPO-bound Swiggy's valuation for second time in a row to $8.3 billion

Money Control

Money Control · 1y ago

Invesco raises IPO-bound Swiggy's valuation for second time in a row to $8.3 billion

Swiggy's valuation has been raised for the second consecutive time by Invesco, a US-based asset management company. The foodtech major now stands at a valuation of $8.3 billion, up from $7.85 billion last year. This increase comes after Swiggy experienced back-to-back valuation cuts, with its value dropping to $5.5 billion at one point. The latest markup from Invesco indicates that Swiggy's worth is now lower than its valuation of $10.7 billion in January 2022. Swiggy is currently preparing for a potential IPO to raise over $1 billion.

Swiggy To Command Lower Valuation Than Zomato In Public Market: Elara Capital

Inc42 · 11m ago

Swiggy To Command Lower Valuation Than Zomato In Public Market: Elara Capital

Swiggy, the upcoming IPO-bound food delivery platform, will face challenges to match Zomato's valuation unless it gains market share and achieves profitability, according to Elara Capital. Swiggy will need to reach Zomato's EBITDA margin in food delivery and break-even in quick commerce, which may be a long-term goal. Zomato was valued at $12 billion during its IPO, while Swiggy aims for a $15 billion valuation, marking a 40% premium to its previous valuation of $10.7 billion.

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