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Dutch investor Prosus pegs IPO-bound Urban Company’s fair value at $2.4 billion
Economic Times
·
2m ago
Medial
Dutch investor Prosus has valued Urban Company, an at-home services platform, at $2.4 billion. It holds a 6.8% stake in the company, which is preparing for an IPO with a Rs 1,900 crore offering. This involves a primary issue and an offer for sale by early investors. Urban Company, recently valued at $1.8 billion, is among several Prosus-backed Indian startups going public as global investors seek to monetize their long-held tech investments in India.
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Prosus manages $6.5 billion in Indian tech assets, eyes more IPO exits - The Economic Times
Economic Times
·
2m ago
Medial
Dutch investor Prosus manages $6.5 billion across over 30 Indian companies, with investments totaling $8.6 billion. The loosely coupled portfolio includes Meesho, Swiggy, and Urban Company, allowing mutual synergies. Successful investments like MakeMyTrip and Flipkart have resulted in $4 billion in cash returns. Prosus sees further growth with prospective IPOs, including Urban Company and BlueStone, enhancing returns. Swiggy's IPO alone yielded $500 million for Prosus, which still holds a significant stake in the company.
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Invested $8.6 billion in India, continue to see a lot of opportunity: Prosus CEO Fabricio Bloisi
Economic Times
·
3m ago
Medial
Prosus, a Dutch tech investment firm, has invested $8.6 billion in India, viewing it as a promising market. CEO Fabricio Bloisi highlighted Swiggy's public listing and Prosus’ investment in Rapido as significant milestones. They offloaded 5% of Swiggy shares during its IPO, recovering over half of their investment. Prosus continues to see opportunities in India with plans to list Bluestone and Urban Company. They’re also exploring generative AI investments and supporting startups targeting new users.
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Prosus eyes PayU IPO in 2025 after stellar Swiggy listing
TechCrunch
·
9m ago
Medial
Dutch investor Prosus plans to list fintech firm PayU in 2025, shifting its focus to India. PayU, wholly owned by Prosus, had intended to go public this year with a valuation of $5-7 billion. However, the listing is now expected to take place in 2025. PayU recently obtained approval to operate as a payment aggregator after a 15-month regulatory ban. With a valuation of $4.2 billion, PayU competes with Razorpay and PhonePe in India's digital payments market. Prosus is an investor in Indian startups such as Meesho and Urban Company, and more portfolio companies may go public within 18 months.
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Prosus writes off investment in Byju's marking $493 million loss
Economic Times
·
1y ago
Medial
Dutch technology investment firm Prosus has written off its 9.6% stake in edtech firm Byju's due to a significant decrease in value. The fair value loss of $493 million was recognized in the company's annual report. This move aligns with HSBC's earlier assertion that Prosus' stake in Byju's holds no value, citing legal cases and financial challenges. Prosus had previously invested $500 million in Byju's, making it one of its largest edtech investments in India. Additionally, Prosus marked its investment in Primrose Hill (ZestMoney) down to zero from $38 million in FY22.
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Prosus expects 5 IPOs from its India portfolio in next 18 months
TechCrunch
·
8m ago
Medial
Dutch investment group Prosus is preparing for potential IPOs of its Indian portfolio companies, including PayU, Meesho, and Bluestone, within the next 18 months. This move reflects the growing momentum in India's internet market, which is the second-largest in the world. Prosus-backed startups like Urban Company, Pharmeasy, and Captain Fresh are also among the more than 20 Indian startups expected to go public in 2025. Prosus recently earned $2 billion from food delivery firm Swiggy's IPO, and has made new investments totaling approximately $180 million in mintifi and Vastu.
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IPO-bound Swiggy trails Zomato in key metrics
The Arc Web
·
1y ago
Medial
Swiggy's food delivery business grew 17%, reaching a gross merchandise value of $1.43 billion in H1 2023. However, Zomato's gross order value was 16% higher at $1.66 billion, indicating higher market share. Prosus, Swiggy's major shareholder, plans to reduce its 32.7% stake before Swiggy's IPO. Swiggy's EBITDA losses in food delivery fell 89%, driven by improved contribution margins. Instamart, Swiggy's rapid-grocery unit, saw a 63% sales increase, aiming for profitability in its 25 operating cities.
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EXCLUSIVE: Prosus to double down on Urban Company with $30M investment
YourStory
·
10m ago
Medial
- Prosus, a major technology investor, plans to double its investment in home services platform Urban Company ahead of the startup's anticipated public listing next year. - Prosus will invest around $30 million in an all-secondary transaction at a flat $2.6 billion valuation, giving a partial exit to Bessemer Venture Partners. - Accel Partners and Elevation Capital, early backers of Urban Company, have put their plans for further stake sales on hold and will await the company's IPO next year. - Prosus' decision to increase its stake in Urban Company follows a substantial gain from its investment in Swiggy, another successful Indian startup. - Prosus is diversifying its stake beyond tech investments, with recent investments in Vastu Housing Finance and plans to invest in Bluestone, a jewellery platform. - Urban Company, founded by Abhiraj Bhal, Raghav Chandra, and Varun Khaitan, last raised funding in 2021 and has initiated conversations with investment banks for an IPO.
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Prosus further slashes Byju's fair value to $5.1 billion
Money Control
·
2y ago
Medial
Prosus, one of BYJU'S major investors, has reduced the fair value of its stake in the edtech startup to $5.1 billion. This marks a further decrease from the previous valuation. The decision reflects the ongoing challenges faced by BYJU'S, including corporate governance lapses and the resignation of key board members. Prosus' updated fair value assessment indicates a decline in BYJU'S overall worth.
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After Swiggy, Prosus sees PayU, Meesho and Bluestone as IPO candidates
YourStory
·
9m ago
Medial
Netherlands-based investor Prosus is considering several companies for potential IPOs in the next 18 months, including PayU, Meesho, and Bluestone. They also see future potential in companies like Eruditus, Mintifi, Captain Fresh, Vastu Housing, and Mensa Brands. Prosus recently made $2 billion in profits from selling shares in Swiggy's IPO, where it now holds a 25% stake. Additionally, Prosus is planning to increase its stake in Urban Company and PayU is expected to file its draft prospectus by May 2025.
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Prosus CEO Fabricio Bloisi landing in August to take stock of business
Economic Times
·
1y ago
Medial
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.
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