Flipkart co-founder Sachin Bansal’s bet on the insurance firm is part of his broader ambition in financial services industry.
AngelList and ET picked these individuals for the access they enjoy, follow-on rounds they have backed and the overall quality of these startups. ET spoke to these angel investors for providing another filter to the shortlist.
The windfall for the fund executives comes on the back of RA Hospitality, a special purpose vehicle domiciled in the Cayman Islands, recently buying Oyo shares worth $1.3 billion from these two venture firms on behalf of Agarwal.
The unprecedented move has raised eyebrows due to the massive debt financing raised by the entrepreneur by pledging his shares. Founder & CEO Ritesh Agarwal did not say how he would service the debt. When asked if he would opt to refinance the loan, he said that he is focused on building a good business, and if he does, the refinancing will happen.
If the merger goes through, Zomato and UberEats may emerge as the biggest by number of orders and size ahead of Swiggy in a hotly contested and cash-intensive online food delivery market.
With the fresh infusion of capital, Bansal’s total investment in the new-age insurance firm will go up to $45 million, making it his largest personal bet on an Indian startup.
Swiggy & rival Zomato were burning $30-40 million monthly on discounts, the latter is looking ahead now.
There comes a time in the cycle when investors get really cautious and we're in that part of the cycle right now, which is why you're seeing Uber and Lyft and even WeWork not getting valued at their private rounds, says Norwest's Promod Haque.
If an IPO doesn't take place in 5 years, then SoftBank will have the right to sell its stake to a rival.
Nishar said the debacle at WeWork, which SoftBank bailed out with a $9.5 billion cash injection, was an extreme case of dissonance between private, and what would have been its public market valuation.
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