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News on Medial
Saregama to acquire Peak XV-backed Pocket Aces valuing digital content startup at Rs 334 crore
Economic Times
·
1y ago
Medial
Indian music label Saregama is set to acquire a 52% stake in Mumbai-based digital content producer Pocket Aces for INR 174 crore. This deal values Pocket Aces at INR 334.6 crore. Saregama plans to use Pocket Aces' IP and distribution network of over 95 million followers to extend its reach among the 18-35 age group. The acquisition will also result in synergies in artist/influencer management and long-format video creation. The transaction is expected to be completed in two tranches, within the next two months and 18 months respectively.
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Related News
Why Saregama acquired ownership in digital entertainment company Pocket Aces
IndianStartupNews
·
1y ago
Medial
Indian music label Saregama has acquired a majority stake (51.8%) in Mumbai-based digital entertainment company Pocket Aces Pictures for Rs 174 crore. Saregama plans to acquire an additional 41% stake in the next 15 months. Pocket Aces has a strong presence on digital platforms like Instagram and YouTube, with a reach of over 95 million users. The acquisition will help Saregama strengthen its position in the digital music industry and tap into the growing young digital audience. Pocket Aces' revenue from operations was Rs 104 crore in FY23 and is expected to grow further.
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15 Months After Splitting From Sequoia, Peak XV Realises Exits Worth $1.2 Bn
Inc42
·
10m ago
Medial
Venture capital firm Peak XV Ventures has reportedly sold stakes in around a dozen listed portfolio companies over the past year. Some of the companies in which they have divested their stakes include Zomato, Mamaearth, and Truecaller. Additionally, the firm has also sold stakes in startups like K12 Techno, Pocket Aces, and PingSafe through secondary transactions and mergers and acquisitions in the last 15 months. With assets amounting to $9 billion, Peak XV Ventures manages a portfolio that includes unicorns like CRED, Meesho, Groww, and Unacademy.
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Exclusive: MedGenome, Neuberg eye controlling stake in diagnostic chain
VCCircle
·
12m ago
Medial
MedGenome and Neuberg Diagnostics are competing to acquire a controlling stake in a diagnostic lab chain that offers preventive health check-up services. Both companies, backed by Peak XV Partners, are among the potential suitors for NM, according to sources.
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Canada's OTPP in talks to invest in Darwinbox; valuation may hit $1 billion: Sources - The Economic Times
Economic Times
·
1d ago
Medial
Ontario Teachers' Pension Plan (OTPP) is set to acquire a $50 million stake in Darwinbox, an HR SaaS firm, valuing it at over $1 billion. The transaction involves both primary and secondary components, enabling Peak XV Partners to partially exit its investment in the company. Darwinbox, serving over 1,000 global enterprises, aims for significant revenue growth, bolstered by international expansion efforts, particularly in markets like the US.
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Media & Entertainment Startups – Latest News, Funding, Financials, Acquisitions, IPOs & More
Inc42
·
1m ago
Medial
India's media and entertainment sector is rapidly growing, projected to reach $30.9 billion by 2024, driven by increased digital consumption, particularly on mobile devices. The sector includes diverse fields like TV, film, digital media, gaming, and music. Startups are attracting substantial funding, indicating strong investor confidence. With six unicorns, including Dream11 and ShareChat, the sector shows significant promise. Notable startups making impacts include WinZO, Kuku FM, and Pocket Aces.
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Grapevine: KKR, JB Pharma, ONGC, Peak XV-backed Capillary, and Pernia in news
VCCircle
·
9m ago
Medial
KKR & Co. is exploring alternative monetization options after failing to reach a deal with private equity firms for the sale of its stake in JB Chemicals & Pharmaceuticals. Meanwhile, ONGC is considering a partnership with another state-owned unit to acquire Ayana Renewable Power. Additionally, Capillary, backed by Peak XV, and Pernia are also making headlines in the industry.
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A91, MO Alts join race for stake in HealthKart; Dashtoon eyes fresh funds
VCCircle
·
1y ago
Medial
A91 Partners and Motilal Oswal Alternates have joined ChrysCapital in the race to acquire a stake in HealthKart as Peak XV Partners plans to exit the Temasek-backed startup. The investment round will mainly consist of secondary components, but may also include some primary components. Talks are ongoing, with A91 Partners seeking to increase its existing stake.
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Meesho in talks for secondary deal with Peak XV, Tiger Global at $3.5-3.9 billion value
Economic Times
·
1y ago
Medial
Peak XV Partners (formerly Sequoia Capital India) and Tiger Global are reportedly in discussions to acquire a stake in SoftBank-backed ecommerce firm Meesho in a secondary deal. Meesho's early investors and angel backers are expected to sell shares worth around $200 million at a valuation of $3.5-3.9 billion. While Peak XV is an existing investor, Tiger Global's potential participation is significant as it has been refraining from new investments in India. Meta, another existing investor, may also consider selling a part of its stake. Meesho's valuation is likely to be reduced by 20-30% as a result of this transaction.
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Neobanking startup Jupiter posts 5X jump in FY24 operational revenue, trims loss
Economic Times
·
8m ago
Medial
Neobanking startup Jupiter, backed by Peak XV Partners, has experienced a significant increase in operational revenue, reporting Rs 35.8 crore in FY24. Moreover, it reduced its net loss by 15.5% to Rs 276 crore. With a non-banking finance company (NBFC) license obtained from the Reserve Bank of India, Jupiter generated Rs 16 crore in revenue from its lending operations, along with a net profit of Rs 1.3 crore. The company managed to decrease expenses to Rs 356 crore and incurred Rs 42 crore in employee stock ownership plan expenses. Jupiter offers a digital banking suite and has raised $167 million so far.
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Grapevine: Jubilant Group, Goldman Sachs, HDFC, Zetwerk, and LG Electronics in news
VCCircle
·
8m ago
Medial
The Bhartia family is reportedly in talks with an investment bank to acquire a stake in Hindustan Coca-Cola Beverages. HDFC Bank is planning to sell some commercial properties it inherited from its merger with HDFC. Additionally, Zetwerk, which is backed by Peak XV, is considering fundraising options. This news involves several prominent companies including Jubilant Group, Goldman Sachs, HDFC, Zetwerk, and LG Electronics.
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