Another challenge besetting start-ups is valuations getting slashed by investors. Experts believe that the increased focus on profitability and reduction in expenses has sparked this trend. This is a wake up call for start-ups to focus on financial metrics to grow and scale up. Here are some start-up biggies who saw their valuations getting slashed.
The Vanguard Group has lowered the valuation of ANI Technologies, the parent company of Ola, by 35% to USD 4.8 billion, down from USD 7.4 billion. Vanguard now values its stake in Ola at USD 33.9 million, down from USD 51.8 million in August 2020. This is the third time the Group lowered the value of its stake in Ola, which it attributed to slowing growth. Notably, Ola is planning to go public on the Indian stock exchange next year. Other Indian startups receiving valuation markdowns include Swiggy, Byju’s, and Oyo., Companies News, Times Now