If you are in business, the issue of profitability is going to catch up with you eventually. All businesses exist for generating profits. All valuation models are eventually built on profit, earning multiples.
SoftBank made a big-bang entry in the industry in 2014, when it announced three investments totalling $1 bn.
The fall in money raised from capital markets was also driven by a lower number of IPOs and QIPs, despite the market reaching a new high in 2019 as global liquidity continued to push up investor interest.
SoftBank had initially announced its intention to raise $108 billion for Vision Fund 2 in July this year, with plans to put in $38 billion itself. The rest was expected to be raised from corporations, including smartphone maker Apple and institutions like Standard Chartered Bank.
Majety, 33, says the company is moving towards improving its bottomline as discounts come down. Swiggy, he said, will continue to invest in new growth areas like ‘Stores’ and parcel delivery service ‘Go’.
As the name suggests, Whiteboard Capital bet on founders even before their business plan is finalised and to help them refine their products, even if it means changing the model.
A Y Combinator spokesperson said the number of from each country is still not final and that it is not related to its Chinese exit either.
The move, which is the second major acquisition by FirstCry after it bought Mahindra’s baby care retail business Babyoye in 2016, will allow the firm to be present across the life cycle of a child from before conception to early education.
Rapido was founded by Aravind Sanka, Rishikesh S R and Pavan Guntupalli in 2015 and also counts Hero MotoCorp MD Pawan Munjal among its investors.
Talks for the acquisition come even as Zomato is in the midst of raising capital where it has already got a commitment from existing backer Ant Financial for $200 million. The funding round will value Zomato over $3 billion, and a potential share-swap may also happen using that benchmark.
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