The company reported a 160% jump in operating revenue to Rs 1,627 crore for the fiscal year ended 2023. However, its net loss more than doubled from the previous year to Rs 1,254.9 crore, according to its recent regulatory filings for the financial year under review.
Gurugram-based food delivery company Zomato saw an improved bottomline for Q2 FY24, but even more remarkable was the positive contribution from its quick commerce arm Blinkit. This and more in todays ETtech Top 5.
The ET Soonicorns Summit 2023 promises to be a one-of-its-kind platform for knowledge sharing and networking, offering attendees a unique opportunity to connect with industry leaders, policy makers, and the visionary founders behind tomorrows unicorns. With a diverse array of sessions covering a wide range of topics, this summit will provide valuable insights and strategies for success in the dynamic startup ecosystem. Here are the key speakers and sessions to look forward to during the ET Soonicorns Summit 2023, taking place on November 3 in Delhi-NCR.
Six months back, B2B SaaS vendor Freshworks, formerly known as Freshdesk, raised $100 million at a post-money valuation of $1.5 billion, marking its entry into the Billion Dollar Unicorn Club. It recently reported profitability in FY2017-2018 ending March 2018. Unlike most other unicorns, Freshworks has an eye on fundamentals, a byproduct, I should like to believe, of my badgering them for years. After my recent Bootstrapping to an Exit article, I have been analyzing the acquisition strategies of Indian companies like Zomato and CarDekho. Freshworks is a unicorn that has expanded its product portfolio with nine strategic acquisitions of capital-efficient startups. Freshworks' Journey Freshdesk was originally founded in 2010 as an affordable alternative to Zendesk by CEO Girish Mathrubootham and CTO Shan Krishnasamy. Today, with the help of nine small but strategic acquisitions, Freshdesk expanded its portfolio to offer IT services management software Freshservice, CRM software
If you haven't already, please study our free Bootstrapping Course and Investor Introductions page. I hope you read my article Bootstrapping to Exit. As a follow-up, here are some more case studies from 2019. From Freshworks Has Acquired Nine Capital Efficient Startups: All the nine acquisitions by Freshworks have been for undisclosed amounts. Cloud-based video collaboration platform 1CLICK, acquired in 2015, was founded in 2012 and had raised an undisclosed seed round from Blume Ventures and The Chennai Angels in 2014.Online social discovery platform Frilp, acquired in 2015, was founded in 2012 and had raised $500K in funding from angel investors, including Freshdesk CEO Girish Mathrubootham in August 2014 and an undisclosed venture round with Microsoft Accelerator. It had over 100K users. App customer support offering Konotor, acquired in 2015, was founded in 2013 and had raised $155,000 in seed capital from Accel Partners, Qualcomm Ventures, and Target Accelerator. Its