Will Zomato Acquire Paytm's Movies Business? - Indian Startup News 214
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- Опубліковано 28 чер 2024
- IN-SPACe programme: www.inspace.gov.in/inspace?id...
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00:00 Trouble Brewing at Third Wave Coffee?
02:37 Zomato wants to buy Paytm’s movies and ticketing business
04:36 Unacademy is in talks to merge with K12 Techno Services
05:47 IN-SPACe announces launch of pre-incubation programme
06:24 Ixigo’s successful IPO
07:10 Funding news
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Trouble brewing at Third Wave Coffee?
Just last year, Third Wave Coffee raised a massive $35 million funding round, and shortly after, The Ken published a story titled "Third Wave Coffee is bad news for Starbucks." Many believed Third Wave Coffee would overtake Starbucks in India. However, here we are in 2024, and the reality is starkly different. The company laid off over 100 employees months after their biggest fundraiser, and today, more than 70% of Third Wave Coffee’s stores are operating at a loss.
What's going on? According to a detailed report by The CapTable, the issues stem from the company's business model and management. Back in 2018, Sujeet Kumar, co-founder of Udaan, started working out of Third Wave Coffee in Bengaluru and eventually invested in the company. Today, Sujeet is the third biggest individual shareholder and has taken a significant role in the company's operations, often sidelining the original founders.
Zomato wants to buy Paytm’s movies and ticketing business
Zomato has confirmed discussions with Paytm to acquire their movies and ticketing business in a deal potentially worth between 1,600 to 2,000 crore rupees. This would be Zomato’s largest acquisition since Blinkit.
Why would Zomato make such a move? Paytm's movie and live show ticket sales already generate 300 to 350 crore rupees. Zomato could leverage this by bundling movie tickets with food sales, potentially offering discounts and earning a cut from both ticket sales and food orders. This strategy mimics PVR Inox, where 35% of revenue comes from food and beverages.
In FY23, Zomato made over 50 crore rupees from ticket sales on their platform and announced a 100 crore rupee investment in Zomato Live, their live events and ticketing business.
Unacademy in talks to merge with Orchid Schools owner K12 Techno Services?
Reports suggest Unacademy is in merger talks with K12 Techno Services, which operates over 90 Orchids schools across India. If the deal goes through, they might create a joint venture with a 50% stake each.
Unacademy, which launched its first offline learning center in 2022, sees this as a strategic move towards offline education. A merger would give Unacademy access to 75,000+ school students and K12’s services to 900+ educational institutions, broadening their business horizons.
IN-SPACe announces launch of pre-incubation programme for space startups
The Indian National Space Promotion and Authorisation Centre (IN-SPACe) has launched a pre-incubation entrepreneurship (PIE) programme for early-stage space startups established on or after July 1, 2022. The 21-month-long programme is also open to students interested in space technology, offering guidance to ideate, innovate, and demonstrate prototypes with expert assistance.
Find more details about the programme through the link in the description.
Ixigo’s successful IPO
Ixigo’s parent company, Le Travenues Technology, was listed on the stock market at 138.1 rupees per share, a 48.5% premium on its IPO price of 93 rupees per share. The stock closed at 165.72 rupees on the NSE and 161.99 rupees on the BSE. Ixigo, a business built quietly over 18 years, has finally hit the spotlight.
Funding news
This week, Indian startups raised a total of $176 million, slightly down from last week’s $199.2 million.
Ummeed Housing Finance (Gurugram): $76 million Series F
Bira91 (New Delhi): $25 million
WROGN (Bengaluru): $15 million
POP (Bengaluru): $2.4 million seed round
Prosperr.io (Bengaluru): $1.55 million pre-seed round
Go Zero (Mumbai): $1.5 million pre-Series A
Ayna (Bengaluru): $1.5 million seed round
Stay tuned for more updates and insights!
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I heard the name Sujeet Kumar and knew Third Wave must be struggling
Why bro?
Please explain i am curious
I saw him in Nikhil kamath's podcast. He seemed quite arrogant and ignorant about the way you do business. He was there with Kishor Bayani (BigBazaar) and contradicting him
There have been Previous news that Udaan is struggling. His way of doing business by raising funds is not sustainable
@@tusharagrawal5458 thanx mr ambanni
@@tusharagrawal5458I think Sujeet is more interested in building his personal wealth than building a sustainable business.
Thanks for another great video Caleb. Very interesting view on Third Wave Coffee- I think we see this quite often with founders and investors. Best regards from sunny Turin -Rahul
zepto raised 665M $.
Thanks for the heads up Abhishek, this happened after we had recorded the video but we'll include it next week! -Caleb
665M $ 🤯🤯
In total or what
Third Wave used to have an amazing food menu. I remember they had the fried egg with tomato soup. Dunno what happened.
Making money is easy, keeping money is hard 😂
Here founders got money (funding) but failed in accountability and accounting 😅
Yoh guys thanks for spending lot time and discription
I personally love Third Wave Coffee, more than any other coffee shops in Mumbai. Their coffee and food is way better than Starbucks.
Interesting. Looks like coffee wave is going the way of byjus. Something needs to be done to increase the VC investing in India. At current rates, India generates only about $10 billion annually. China is 7 x bigger, and even the uk is 2 x bigger. It will be hard to sustain growth and employment if India cannot attract significantly more. Do you have any ideas why India is not grabbing a bigger share given its growth potential
Lmao, nah no company in India has gone the way of Byjus. No other company has looted so many poor people and has had such terrible work culture. Third wave is much better than byjus.
what is the source of your headlines?
Like from where do you get the data about which startup raised how much
@2:00 Its Investors not Insestors !!
yesterday i and my friend in third wave cofee shop seated and taled why it must shut down
Can i get the playstore link for the POP app it will be helpful.
Swiggy also struggling
Kind of issue for Zomato - Why will a movie theater let Zomato sell food at their place? E.g. A 5 star hotel or even a Oyo hotel won't let food delivery happen since they earn lot of money from food. I don't think there is any synergy, apart from user cross flow.
If Zomato can help them sell MORE food and increase their revenues, even if they have to cut Zomato in, they'll do it. Business is business. -Caleb
@@backstagewithmillionaires But where is zomato coming in , in between? You mean, a prepaid voucher that gets sold with ticket for popcorn, drinks? That part I agree, though this is kind of sacrificing in-store sales for online sales.
Overall out come might be a bit higher since there was an online opportunity to sell as well.
Hii carl
Bro dunzo comeback again market,one video please
But when an investor is helping you that much acquiring funds and getting deals done how do you even set up a boundary between your business and the investor? I kinda feel bad for the co founders of 3rd wave.
The zomato deal is kinda confusing, if they'll allow users to order food from them along w the tickets, won't that hurt the profit margins of the theatre chains? Why would they deliberately do that
Sujith just want to make money for himself , at the cost of companies.
Why would paytm sell its arm which is making 50% revenue, unless its winding back.
"People who buy tickets, would by food" currently theaters dont allow outside food, obviously things can be changed
Firstly, revenue is not profit. Paytm could literally be losing money on this and the revenue figure would remain unchanged because expenses are different number.
Either Zomato cuts the theater into the outside food deal, or the theater cuts Zomato into the inside food deal. Money is money at the end of the day. -Caleb
Thanks, Caleb.
>"could be loss making" yes, it could be but I'm guessing this arm might not be so, as I didn't see much discounts compared to bookmyshow, it could be possible that even bms is loss making. Agree with the money role.
Those coffe roasters loke starbucks, thirdwave etc all are absolute BS. Rubbish taste chocolate, strabwrry, mango and what not 🤣🤣 , super high price. Why should I go ? Just to write my name on the glass which i will definitely throw into dustbin.
First?