$1 billion is the new $100 million : Flush with unicorns, India’s tech moment arrives
Top Searches $1 billion is the new $100 million : Flush with unicorns, India’s tech moment arrives
Bloomberg / Jul 19, 2021, 08:58 IST
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NEW DELHI: Last week marked a watershed for technology startups in India, as a record bout of fundraising shifted attention to the world’s second-most populous market, just as investors were becoming spooked by a crackdown on internet companies in China.
Food-delivery app Zomato Ltd became the nation’s first unicorn to make its stock-market debut, raising $1.3 billion with backing from Morgan Stanley, Tiger Global and Fidelity Investments. The parent of digital payments startup Paytm filed a draft prospectus for what could be India’s biggest IPO at $2.2 billion, while retailer Flipkart Online Services Pvt raised $3.6 billion at a $38 billion valuation, a record funding round for an Indian startup.
Watershed For Unicorns In India As China Tech Crackdown Spooks Investors Watershed For Unicorns In India As China Tech Crackdown Spooks Investors Food-delivery app Zomato Ltd. became the nation s first unicorn to make its stock-market debut, raising $1.3 billion with backing from Morgan Stanley, Tiger Global and Fidelity Investments.
Food-delivery app Zomato Ltd. became the nation s first unicorn to make its stock-market debut.
Last week marked a watershed for technology startups in India, as a record bout of fundraising shifted attention to the world s second-most populous market, just as investors were becoming spooked by a crackdown on internet companies in China.
Food-delivery app Zomato Ltd. became the nation’s first unicorn to make its stock-market debut, raising $1.3 billion with backing from Morgan Stanley, Tiger Global and Fidelity Investments. The parent of digital payments startup Paytm filed a draft prospectus for what could be India’s biggest IPO at $2.2 billion, while retailer Flipkart Online Services Pvt raised $3.6 billion at a $38 billion valuation, a record funding round for an Indian startup.
“Indian entrepreneurs have been quietly building startups for a decade now, the country’s internet infrastructure has vastly improved in that time and there’s a very good appetite for tech stocks globally,” said Hans Tung, the Silicon Valley-based managing partner of GGV Capital, which manages $9.2 billion in assets. “Investors are beginning to see the huge upside and they expect India to be a China.”
Synopsis
A record bout of fundraising and a slew of upcoming startup IPOs has shifted focus to Indian technology startups even as investors are spooked by China’s crackdown on its own tech companies.
Reuters
India’s population is expected to overtake China’s this decade and the mood now among investors could not be more different in the neighbouring nations.
Bengaluru: Last week marked a watershed for technology startups in India, as a record bout of fundraising shifted attention to the world’s second-most populous market, just as investors were becoming spooked by a crackdown on internet companies in China.
From Zomato IPO to Flipkart funding, India’s tech moment arrives
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Last Updated: Jul 19, 2021, 03:31 PM IST
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Synopsis
A record bout of fundraising and a slew of upcoming initial public offerings (IPOs) has shifted focus to Indian tech startups even as investors were becoming spooked by China’s crackdown on its own tech companies.
Reuters
India’s population is expected to overtake China’s this decade and the mood now among investors could not be more different in the neighbouring nations.
Bengaluru: Last week marked a watershed for technology startups in India, as a record bout of fundraising shifted attention to the world’s second-most populous market, just as investors were becoming spooked by a crackdown on internet companies in China.