Zomato Acquires Paytm Insider to Take on BookMyShow - Indian Startup News 223
Вставка
- Опубліковано 29 вер 2024
- Notion Dashboard: meadow-pillow-...
This week funding: meadow-pillow-...
Funding chart: meadow-pillow-...
------------------------------------------------------------------------------------------------------------------------------------------------
00:01 Zomato acquires Paytm’s entertainment ticketing business
02:25 RBI curbs P2P lending
04:22 MobiKwik turns profitable for the first time
05:36 VC Fund News
07:06 Funding News
------------------------------------------------------------------------------------------------------------------------------------------------
Zomato acquires Paytm’s entertainment ticketing business
Deepinder Goyal’s Zomato has made a significant move by acquiring Paytm’s entertainment ticketing business popularly known as Paytm Insider for ₹2,048 crores ($244 million). This acquisition includes Paytm Insider and TicketNew, which generated ₹297 crores in revenue in FY24. While this might seem unrelated to Zomato’s core food delivery business, it aligns with their broader strategy of expanding into the going out segment. Zomato's CEO, Deepinder Goyal, envisions a lifestyle shift in India where going out experiences will be a massive market. With the launch of their new app, District, Zomato aims to create a super brand for dining, entertainment, and staycations, challenging industry leader BookMyShow. Can Zomato's District become the next big player in this space?
RBI curbs P2P lending
The Reserve Bank of India (RBI) has imposed restrictions on P2P lending platforms, banning practices that allowed early withdrawals and masking the true risk of these unsecured loans. This move of RBI has caused disruption in the P2P lending industry, with some platforms like India P2P pausing new investments and withdrawals. The RBI's intervention highlights the growing concerns around P2P lending and its impact on the financial ecosystem. Even Kunal Shah's Cred and Shashvat Nakrani’s BharatPe have P2P lending products like Cred Mint and 12% Club in partnership with Liquiloans and LenDenClub.
MobiKwik turns profitable for the first time
Bipin Preet Singh’s and Upasana Taku’s ****MobiKwik has reported its first profitable year in FY24, posting a ₹14 crore profit, a significant turnaround from a loss of ₹80.6 crores in FY23. MobiKwik’s revenue grew to ₹890 crores, driven by their focus on Tier 3 markets and efficient cost management. As MobiKwik gears up for its IPO, this profitability milestone positions them well against fintech giants like Paytm and PhonePe.
VC Fund News:
- AJVC launches maiden fund
Aviral Bhatnagar, formerly of Venture Highway, has launched a ₹100 crore fund under the name AJVC, targeting pre-seed stage startups. With commitments pouring in on launch day, the fund has already attracted 1,000 applications within just two days. The AJVC fund promises quick responses to founders, reflecting the strong demand in the market.
- Volt VC launches maiden fund
Volt VC, a micro VC firm based in Ahmedabad, has launched its first fund with a target of ₹45 crore. The firm plans to invest in 20-25 pre-seed consumer-centric startups over the next three to four months.
- Chiratae Ventures launches third cohort of Chiratae Sonic
Chiratae Ventures, an established VC firm, has kicked off the third cohort of its Chiratae Sonic seed investment program. Targeting deeptech, generative AI, climate tech, and manufacturing tech startups, the program offers investments ranging from $500,000 to $2 million, with a promise of quick decisions.
Funding News:
This week, Indian startups raised nearly $182 million. Highlights include:
- BlueStone (Bengaluru): $107 million raised in a Pre-IPO round
- Hangyo (Mangaluru): $25 million raised
- Even Healthcare (Bengaluru): $20 million raised
- InvestorAI (Bengaluru): $10 million raised in Series A round
- Uppercase (Mumbai): $9 million raised in Series B round
- Zoff (Raipur): $4.8 million raised in Series A round
- TransBnk (Mumbai): $4 million raised in Series A round
------------------------------------------------------------------------------------------------------------------------------------------------
Connect with us:
Twitter: / bwmillionaires
Instagram: / backstagewithmillionaires
Podcast: open.spotify.c...
Damn the vision and business strategy of Goyal sir is such a next level. Not only he is destroying ecommerce website but also competing against Book my shows and other services. May be in near future he might look for hotel chain also you never know 🙌✨
he is already in hotel goods supply, all restaurant buy raw material from zomato hyperpure which is large part of zomato business
@@SUNs1591 no i mean something like Airbnb or Oyo
@@SUNs1591 ig he meant the stay-in hotel chain
and the best part is, he does it with class
@@sumithpittala exactly 💯
Please make a video of flipkart launching 'minutes' its quick commerce vertical
ajvc fund link??
@@backstagewithmillionaires, I think when trying to scrap yourstory site, the last entry also made it to the notion list 😅😅, it's not a true funding info!!
Can you please clarify Sanku? -Caleb
@@backstagewithmillionaires the last entry of NxtCube in Drone Infrastructure from Nasik has empty funding row😅
Can't find the live stream? Maybe it got unlisted but why?
Same
Subscribed to your channel 2-3 years ago when you have around 70k subscribes, so I feel happy for your contribution to make the channel grow by talking about more innovative companies within india
excited for dua lipa concert here
which location?
@@himansh4812 mumbai
Where are timestamps???
00:01 Zomato acquires Paytm’s entertainment ticketing business
02:25 RBI curbs P2P lending
04:22 MobiKwik turns profitable for the first time
05:36 VC Fund News
07:06 Funding News
It'd be great to see if you guys can share a discord server or something !! would love to find a community to discuss regarding start up and stuffs
vouchin for this, it'll be great
Why you delete your live stream
Do you guys also do fund startups or help startups in any way ?
Tell me what kind of your startup is
@@Abgz199Tu dega funding 😂
@@legalexplainer I know some vc that's why I asked
@@legalexplainer Indians itne bkl kyu hote hai? usne sidha sidha pucha toh tujhe kyu chull horahi h? bkl
One LIKE FOR "deepinder goyal"
Disliked.
Ye depinder zomato wala hai kya?.@@hey.............
@@legalexplainer Yes Zomato owner
please give the link to apply to ajvc fund
application link for chirate sonic please 🙏🏻🙏🏻🙏🏻🙏🏻
My money's on deepinder goyal
chirate sonic application link???
depender goyal is good enterpurner
Mene ipo me share khrida tha
Daymnn
You guys missed timeline
00:01 Zomato acquires Paytm’s entertainment ticketing business
02:25 RBI curbs P2P lending
04:22 MobiKwik turns profitable for the first time
05:36 VC Fund News
07:06 Funding News
zomato is acting like next byju
Byju main issue was there lack of quality in product. Where all product owned or acquired by Zomato have quality as comparison. Plus marketing team of Zomato are good