Historic Boom For India Tech As Six Startups Become Unicorns In Four Days Historic Boom For India Tech As Six Startups Become Unicorns In Four Days It was an historic week for India s technology industry. In the space of four days, the country minted at least six new startups with a valuation of $1 billion or more.
Updated: April 12, 2021 10:34 am IST
It was an historic week for India s technology industry. In the space of four days, the country minted at least six new startups with a valuation of $1 billion or more what techies call unicorns because they re supposed to be such rarities.
It s raining unicorns for India with 6 new startups joining the list in 4 days
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Six New Unicorns in Four Days Marks Historic Boom for India Tech
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By Adria Calatayud Prosus NV said Wednesday that it plans to cut its stake in Tencent Holdings Ltd. to 28.9% from 30.9%, selling shares worth $15.50 billion. The Dutch internet conglomerate, a subsidiary of South Africa s Naspers Ltd., said it intends to sell up to 191.9 million shares in Tencent. Naspers was one of the Chinese tech giant s earliest investors. Based on Tencent s closing price on Wednesday, the share sale would be worth $15.53 billion. Prosus said the parcel of Tencent shares will be offered to institutional investors globally, with books expected to close prior to the Hong Kong opening. Prosus said the proceeds of the sale will increase its financial flexibility to invest in growth ventures, and that it has committed not to sell any further Tencent shares for at least the next three years.