Riding out the Maha lockdown
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We ll soon meet in your inbox. / Morning Dispatch
This feels so 2020.
Maharashtra is once again in lockdown, albeit partially, and the threat to businesses looms large in India’s richest state. But this time, e-commerce firms know better. There are learnings from last year. For restaurants, however, this better not be a death knell, for deliveries too are curtailed.
Also in today’s newsletter: Swiggy, Meesho raise funds Facebook data breach, again
Maha lockdown. Ecomm unlocked
Lockdown 2021: In a notification issued Sunday. the state government announced a partial lockdown, night curfew and shutdown of malls, multiplexes, restaurants and bars to curb the steep spike in Covid-19 cases. Delivery and supply chain staff of e-commerce firms must either be vaccinated or carry a negative RT-PCR test report that would be valid for 15 days, starting April 10.
Swiggy s war chest against Zomato
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Good evening,
Monday was a crazy busy day for our reporters who were covering all the big-ticket funding and M&A news breaking by the hour.
GIF credit: Tenor
Food delivery platform Swiggy has built a war chest ahead of rival Zomato s public market debut, while Facebook-backed Meesho has become India s newest startup unicorn.
Also in today’s letter:
⚡️Byju s big-ticket acquisition
LG exits smartphone business
Swiggy, Meesho land big funds
Online food ordering platform Swiggy has landed $800 million financing from investors such as Falcon Edge, Amansa Capital, Think Investments, Carmignac and Goldman Sachs. Qatar Investment Authority and GIC of Singapore are also part of the funding round.
Byjus Aakash deal: Byju s to acquire Aakash Educational Services in $700-million deal indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
It is expected to be a $1 billion deal.
13 Jan, 2021 - 09:06 AM IST | By indiantelevision.com Team
New Delhi: Byju’s, India’s biggest online-education startup, seems to be on an acquisition spree trying to create its dominance in the education market. After it acquired Whitehat Jr in mid 2020 for $300 million, the online ed-tech startup is now all set to acquire Aakash Education, as per media reports.
The online edtech startup is said to have signed an acquisition deal to acquire brick and mortar test preparation leader Aakash Educational Services for $1 billion.
The deal is expected to be one of the largest edtech acquisitions in the world and is expected to close in the next two or three months.
Backed by Blackstone Group, Aakash Educational Services runs Aakash Institute, the well-known chain of coaching centres that train students for engineering and medical entrance exams.