BharatPe's FY24 revenue surged 39% to INR 1,426 Cr from INR 1,029 Cr in FY23.   EBITDA loss, excluding sharebased payment expenses, dropped 75% to INR 209 Cr.   Pretax loss halved to INR 941 Cr fro...

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- BharatPe's FY24 revenue surged 39% to INR 1,426 Cr from INR 1,029 Cr in FY23. 
- EBITDA loss, excluding share-based payment expenses, dropped 75% to INR 209 Cr. 
- Pre-tax loss halved to INR 941 Cr from INR 474 Cr in FY23. 
- The fintech unicorn managed to reduce its cash burn by 85% in FY24. 
- BharatPe's lending portfolio saw a 40% YoY growth, primarily catering to merchants.

Source: [Inc42](https://inc42.com/buzz/bharatpe-fy24-revenue-jumps-39-yoy-to-inr-1426-cr/)

BharatPe's FY24 Revenue Skyrockets to INR 1,426 Cr

Journalist

BharatPe's FY24 Revenue Skyrockets to INR 1,426 Cr- Grapevine

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BharatPe saw 77 percent surge in merchant onboarding in February 2024 compared to the previous month, and its website traffic for onboarding inquiries rose by over 47 percent during the same period

BharatPe sees 77% surge in business amidst Paytm's payments bank troubles

BharatPe sees 77% surge in merchant onboarding business amidst Paytm's payments bank troubles

Software Developer

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ET just published a story on BharatPe raising $100M soon (or at least beginning the process to). I’ve heard business is growing well despite exits. How do you feel? 

Do you think the company is going to come good and stabilize as a fintech leader?

BharatPe Fundraise?

Product Owner

𝟏. 𝐖𝐚𝐥𝐦𝐚𝐫𝐭 𝐄𝐱𝐞𝐜 𝐒𝐚𝐲𝐬 𝐈𝐏𝐎𝐬 𝐅𝐨𝐫 𝐅𝐥𝐢𝐩𝐤𝐚𝐫𝐭 𝐀𝐧𝐝 𝐏𝐡𝐨𝐧𝐞𝐏𝐞 𝐂𝐨𝐮𝐥𝐝 𝐓𝐚𝐤𝐞 𝐂𝐨𝐮𝐩𝐥𝐞 𝐎𝐟 𝐘𝐞𝐚𝐫𝐬

Walmart is planning IPOs for Flipkart and PhonePe within the next 2 years; Walmart may prioritize the IPO of PhonePe over Flipkart, as PhonePe is a leading digital payments platform in India.

Flipkart and PhonePe are expected to become $100 billion businesses, helping Walmart double its foreign sales to $200 billion.

PhonePe’s operating revenue surged an impressive 77% to INR 2,913.7 Cr during the year under review from INR 1,646.2 Cr in FY22.

On the other hand, Flipkart saw its operating revenue near the INR 15,000 Cr mark in the year ended March 31, 2023. The marketplace arm’s operating revenue zoomed 42% to INR 14,845.8 Cr in FY23 from INR 10,477.4 Cr in FY22.

This dual IPO chess game could redefine how global giants navigate India's regulatory chessboard and value creation timelines.

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝙄𝙨 𝙒𝙖𝙡𝙢𝙖𝙧𝙩'𝙨 𝙋𝙝𝙤𝙣𝙚𝙋𝙚-𝙛𝙞𝙧𝙨𝙩 𝙄𝙋𝙊 𝙨𝙩𝙧𝙖𝙩𝙚𝙜𝙮 𝙖 𝙢𝙖𝙨𝙩𝙚𝙧𝙘𝙡𝙖𝙨𝙨 𝙞𝙣 𝙩𝙞𝙢𝙞𝙣𝙜 𝙤𝙧 𝙖 𝙩𝙖𝙘𝙞𝙩 𝙖𝙙𝙢𝙞𝙨𝙨𝙞𝙤𝙣 𝙤𝙛 𝙚-𝙘𝙤𝙢𝙢𝙚𝙧𝙘𝙚'𝙨 𝙥𝙡𝙖𝙩𝙚𝙖𝙪𝙞𝙣𝙜 𝙢𝙪𝙡𝙩𝙞𝙥𝙡𝙚𝙨? 𝘼𝙨 𝙐𝙋𝙄 𝙩𝙧𝙖𝙣𝙨𝙖𝙘𝙩𝙞𝙤𝙣𝙨 𝙨𝙤𝙖𝙧 𝙥𝙖𝙨𝙩 $1 𝙩𝙧𝙞𝙡𝙡𝙞𝙤𝙣, 𝙋𝙝𝙤𝙣𝙚𝙋𝙚'𝙨 𝙥𝙪𝙗𝙡𝙞𝙘 𝙙𝙚𝙗𝙪𝙩 𝙘𝙤𝙪𝙡𝙙 𝙧𝙚𝙘𝙖𝙡𝙞𝙗𝙧𝙖𝙩𝙚 𝙛𝙞𝙣𝙩𝙚𝙘𝙝 𝙫𝙖𝙡𝙪𝙖𝙩𝙞𝙤𝙣𝙨 𝙜𝙡𝙤𝙗𝙖𝙡𝙡𝙮. 𝙔𝙚𝙩, 𝙬𝙞𝙩𝙝 𝙁𝙡𝙞𝙥𝙠𝙖𝙧𝙩'𝙨 𝙙𝙚𝙡𝙖𝙮𝙚𝙙 𝙄𝙋𝙊, 𝙖𝙧𝙚 𝙬𝙚 𝙨𝙚𝙚𝙞𝙣𝙜 𝙚𝙖𝙧𝙡𝙮 𝙨𝙞𝙜𝙣𝙨 𝙤𝙛 𝙖 '𝙥𝙧𝙤𝙛𝙞𝙩𝙖𝙗𝙞𝙡𝙞𝙩𝙮 𝙗𝙚𝙛𝙤𝙧𝙚 𝙨𝙘𝙖𝙡𝙚' 𝙚𝙩𝙝𝙤𝙨 𝙞𝙣 𝙄𝙣𝙙𝙞𝙖𝙣 𝙚-𝙘𝙤𝙢𝙢𝙚𝙧𝙘𝙚, 𝙢𝙞𝙧𝙧𝙤𝙧𝙞𝙣𝙜 𝘼𝙢𝙖𝙯𝙤𝙣'𝙨 𝙚𝙫𝙤𝙡𝙪𝙩𝙞𝙤𝙣?

Source: Business Today - https://tinyurl.com/2v2xrfut

𝟐. 𝐍𝐨 "𝐌𝐩𝐡𝐚𝐬𝐢𝐬" 𝐟𝐨𝐫 𝐀𝐈 𝐢𝐧 𝐈𝐓 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬?

Mphasis, the 26-year-old mid-cap IT services firm, stands out as the only listed IT company in India that is majority-owned by a private equity firm, Blackstone. Unlike its peers that are loudly proclaiming their preparedness for generative AI, Mphasis is taking a more understated approach, focusing on "real business cases" rather than mass training programs.

Blackstone's influence is becoming increasingly visible at Mphasis. Since increasing its stake to 55% in 2021, the PE firm has been driving operational changes, including the introduction of an internal gig work platform called "Geek Cloud" and a profit-and-loss tracking system that holds each employee accountable for client accounts. 

This unconventional approach sets Mphasis apart from the industry norm. While peers disclose detailed workforce metrics, Mphasis keeps a low profile, avoiding the limelight. Analysts believe this freedom to operate out of the public eye is a strategic advantage, as Blackstone prepares the company for an eventual exit.

However, this Blackstone-Mphasis alliance is a double-edged sword. While Blackstone's backing provides operational and financial muscle, Mphasis saw revenues plateau last year, unlike its faster-growing competitors. The PE firm's focus on short-term goals ahead of an exit could also come at the expense of long-term growth.

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝙒𝙝𝙞𝙡𝙚 𝙄𝙏 𝙜𝙞𝙖𝙣𝙩𝙨 𝙩𝙧𝙪𝙢𝙥𝙚𝙩 𝘼𝙄 𝙥𝙡𝙖𝙣𝙨, 𝘽𝙡𝙖𝙘𝙠𝙨𝙩𝙤𝙣𝙚-𝙗𝙖𝙘𝙠𝙚𝙙 𝙈𝙥𝙝𝙖𝙨𝙞𝙨 𝙦𝙪𝙞𝙚𝙩𝙡𝙮 𝙛𝙤𝙘𝙪𝙨𝙚𝙨 𝙤𝙣 𝙘𝙡𝙞𝙚𝙣𝙩 𝙥𝙧𝙤𝙗𝙡𝙚𝙢𝙨, 𝙣𝙤𝙩 𝙗𝙪𝙯𝙯𝙬𝙤𝙧𝙙𝙨. 𝙄𝙨 𝙩𝙝𝙞𝙨 𝙡𝙤𝙬-𝙠𝙚𝙮, 𝙧𝙚𝙨𝙪𝙡𝙩𝙨-𝙛𝙞𝙧𝙨𝙩 𝙖𝙥𝙥𝙧𝙤𝙖𝙘𝙝 𝙩𝙝𝙚 𝙖𝙣𝙩𝙞𝙙𝙤𝙩𝙚 𝙩𝙤 𝘼𝙄 𝙝𝙮𝙥𝙚, 𝙤𝙧 𝙞𝙨 𝙈𝙥𝙝𝙖𝙨𝙞𝙨 𝙢𝙞𝙨𝙨𝙞𝙣𝙜 𝙩𝙝𝙚 𝙩𝙚𝙘𝙝 𝙧𝙚𝙫𝙤𝙡𝙪𝙩𝙞𝙤𝙣 𝙗𝙪𝙨 𝙩𝙤 𝙖𝙥𝙥𝙚𝙖𝙨𝙚 𝙞𝙩𝙨 𝙋𝙀 𝙢𝙖𝙨𝙩𝙚𝙧'𝙨 𝙨𝙝𝙤𝙧𝙩-𝙩𝙚𝙧𝙢 𝙚𝙭𝙞𝙩 𝙜𝙤𝙖𝙡𝙨?

Source: The Ken - https://tinyurl.com/muwetk6v

𝟑. 𝐋𝐨𝐭’𝐬 𝐢𝐬 𝐜𝐨𝐨𝐤𝐢𝐧𝐠 𝐢𝐧 𝐈𝐧𝐝𝐢𝐚𝐧 𝐅&𝐁! 🍜

Cloud kitchen startup EatClub Brands (formerly Box8) is raising $25 million from existing investor Tiger Global, as it continues to scale its portfolio of 11 food brands and over 120 eateries. The company has developed a low-cost model with reasonable margins, reporting revenues of Rs 324 crore in FY23 and an EBITDA margin of 6-7%.

Packaged food brand MasterChow is raising $5 million from Tanglin Venture Partners, as it looks to grow its sauces and noodles business. The company has seen its revenues increase from Rs 3 crore in FY22 to Rs 8.2 crore in FY23.

Bubble tea chain Boba Bhai is negotiating a fresh funding round of Rs 30-50 crore, as it aims to capitalize on the growing popularity of bubble tea in Indian metros. The company claims to achieve 70% gross margins.

The broader food and beverage segment is seeing heightened investor interest, with deals like Khazanah Nasional Berhad's $50 million investment in Wow! Momo and Third Wave Coffee's $35 million Series C round. Early-stage activity is also robust, with startups like Pizza Wings, Burger Singh, and Ghost Kitchens raising funding this year.

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝙄𝙣𝙙𝙞𝙖'𝙨 𝙁&𝘽 𝙛𝙪𝙣𝙙𝙞𝙣𝙜 𝙛𝙧𝙚𝙣𝙯𝙮 𝙞𝙨𝙣'𝙩 𝙟𝙪𝙨𝙩 𝙖𝙥𝙥𝙚𝙩𝙞𝙩𝙚; 𝙞𝙩'𝙨 𝙖𝙧𝙗𝙞𝙩𝙧𝙖𝙜𝙚. 𝙀𝙖𝙩𝘾𝙡𝙪𝙗'𝙨 𝙡𝙚𝙖𝙣 𝙀𝘽𝙄𝙏𝘿𝘼 𝙖𝙣𝙙 𝘽𝙤𝙗𝙖 𝘽𝙝𝙖𝙞'𝙨 𝙧𝙞𝙘𝙝 𝙢𝙖𝙧𝙜𝙞𝙣𝙨 𝙨𝙞𝙜𝙣𝙖𝙡 𝙖 𝙨𝙝𝙞𝙛𝙩 𝙛𝙧𝙤𝙢 𝙫𝙖𝙣𝙞𝙩𝙮 𝙢𝙚𝙩𝙧𝙞𝙘𝙨 𝙩𝙤 𝙪𝙣𝙞𝙩 𝙚𝙘𝙤𝙣𝙤𝙢𝙞𝙘𝙨. 𝘽𝙪𝙩 𝙞𝙨 𝙩𝙝𝙞𝙨 𝙖 𝙣𝙖𝙩𝙞𝙤𝙣𝙖𝙡 𝙛𝙚𝙖𝙨𝙩 𝙤𝙧 𝙖 𝙢𝙚𝙩𝙧𝙤𝙨-𝙤𝙣𝙡𝙮 𝙢𝙚𝙣𝙪? 𝘼𝙨 𝙎𝙩𝙖𝙧𝙗𝙪𝙘𝙠𝙨 𝙧𝙚𝙩𝙧𝙚𝙖𝙩𝙨 𝙖𝙣𝙙 𝙡𝙤𝙘𝙖𝙡 𝙗𝙧𝙖𝙣𝙙𝙨 𝙧𝙖𝙞𝙨𝙚 𝙢𝙞𝙡𝙡𝙞𝙤𝙣𝙨, 𝙞𝙣𝙫𝙚𝙨𝙩𝙤𝙧𝙨 𝙖𝙧𝙚 𝙗𝙚𝙩𝙩𝙞𝙣𝙜 𝙩𝙝𝙖𝙩 𝙪𝙣𝙙𝙚𝙧𝙨𝙩𝙖𝙣𝙙𝙞𝙣𝙜 𝙄𝙣𝙙𝙞𝙖'𝙨 𝙝𝙮𝙥𝙚𝙧-𝙡𝙤𝙘𝙖𝙡, 𝙄𝙣𝙨𝙩𝙖-𝙬𝙤𝙧𝙩𝙝𝙮 𝙩𝙖𝙨𝙩𝙚𝙨 𝙩𝙧𝙪𝙢𝙥𝙨 𝙜𝙡𝙤𝙗𝙖𝙡 𝙨𝙘𝙖𝙡𝙚. 𝙏𝙝𝙚 𝙧𝙚𝙖𝙡 𝙛𝙡𝙖𝙫𝙤𝙧 𝙝𝙚𝙧𝙚? 𝙋𝙧𝙤𝙛𝙞𝙩𝙖𝙗𝙞𝙡𝙞𝙩𝙮 𝙤𝙫𝙚𝙧 𝙥𝙪𝙧𝙚 𝙛𝙤𝙤𝙩𝙥𝙧𝙞𝙣𝙩.

Source: The Arc - https://tinyurl.com/mtmyabfk

𝟒. 𝐁𝐨𝐀𝐭 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 𝐢𝐬 𝐬𝐜𝐚𝐥𝐢𝐧𝐠 𝐝𝐨𝐰𝐧 𝐢𝐭𝐬 𝐰𝐞𝐚𝐫𝐚𝐛𝐥𝐞𝐬 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐭𝐨 𝐟𝐨𝐜𝐮𝐬 𝐦𝐨𝐫𝐞 𝐨𝐧 𝐚𝐮𝐝𝐢𝐨 𝐩𝐫𝐨𝐝𝐮𝐜𝐭𝐬, 𝐚𝐬 𝐢𝐭 𝐩𝐥𝐚𝐧𝐬 𝐭𝐨 𝐫𝐞𝐯𝐢𝐬𝐢𝐭 𝐢𝐭𝐬 𝐈𝐏𝐎 𝐩𝐥𝐚𝐧𝐬 𝐰𝐢𝐭𝐡𝐢𝐧 𝐭𝐡𝐞 𝐧𝐞𝐱𝐭 𝟏𝟖 𝐦𝐨𝐧𝐭𝐡𝐬.

Boat is downsizing its wearables business following stiff competition from players such as Fire Boltt, Noise and Tata Group's Titan, a top executive said. Its smartwatch market share slid from 19% in 2022 to 14% last year, according to research firm IDC.

Launching premium "Nirvana by BoAt" brand, aiming to increase audio average selling price by 25%

To stay competitive, Mehta said the company would improve its smartwatch features. For instance, it has tied up with MapMyIndia for navigation and payment functionalities and with Dolby for audio enhancement. 

Turned EBITDA positive, with 75% of products now manufactured domestically.

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝘽𝙤𝘼𝙩'𝙨 𝙥𝙞𝙫𝙤𝙩 𝙛𝙧𝙤𝙢 𝙬𝙚𝙖𝙧𝙖𝙗𝙡𝙚𝙨 𝙩𝙤 𝙥𝙧𝙚𝙢𝙞𝙪𝙢 𝙖𝙪𝙙𝙞𝙤 𝙞𝙨𝙣'𝙩 𝙟𝙪𝙨𝙩 𝙖 𝙥𝙧𝙤𝙙𝙪𝙘𝙩 𝙨𝙩𝙧𝙖𝙩𝙚𝙜𝙮; 𝙞𝙩'𝙨 𝙖 𝙗𝙚𝙡𝙡𝙬𝙚𝙩𝙝𝙚𝙧 𝙛𝙤𝙧 𝙄𝙣𝙙𝙞𝙖'𝙨 𝙢𝙖𝙩𝙪𝙧𝙞𝙣𝙜 𝙩𝙚𝙘𝙝 𝙝𝙖𝙧𝙙𝙬𝙖𝙧𝙚 𝙨𝙘𝙚𝙣𝙚. 𝘼𝙨 𝙞𝙩 𝙘𝙝𝙖𝙨𝙚𝙨 𝙖 25% 𝘼𝙎𝙋 𝙝𝙞𝙠𝙚 𝙬𝙞𝙩𝙝 "𝙉𝙞𝙧𝙫𝙖𝙣𝙖" 𝙖𝙢𝙞𝙙 𝙨𝙢𝙖𝙧𝙩𝙬𝙖𝙩𝙘𝙝 𝙨𝙝𝙖𝙧𝙚 𝙚𝙧𝙤𝙨𝙞𝙤𝙣, 𝙩𝙝𝙚 𝙦𝙪𝙚𝙨𝙩𝙞𝙤𝙣 𝙡𝙤𝙤𝙢𝙨: 𝘾𝙖𝙣 𝙄𝙣𝙙𝙞𝙖𝙣 𝙗𝙧𝙖𝙣𝙙𝙨 𝙬𝙞𝙣 𝙤𝙣 𝙫𝙖𝙡𝙪𝙚 𝙖𝙣𝙙 𝙞𝙣𝙣𝙤𝙫𝙖𝙩𝙞𝙤𝙣, 𝙣𝙤𝙩 𝙟𝙪𝙨𝙩 𝙥𝙧𝙞𝙘𝙚, 𝙤𝙧 𝙬𝙞𝙡𝙡 𝙜𝙡𝙤𝙗𝙖𝙡 𝙜𝙞𝙖𝙣𝙩𝙨 𝙡𝙞𝙠𝙚 𝘼𝙥𝙥𝙡𝙚 𝙚𝙫𝙚𝙣𝙩𝙪𝙖𝙡𝙡𝙮 𝙙𝙤𝙢𝙞𝙣𝙖𝙩𝙚 𝙤𝙪𝙧 𝙥𝙧𝙚𝙢𝙞𝙪𝙢 𝙨𝙚𝙜𝙢𝙚𝙣𝙩𝙨?

Source: Business Standard, The Arc - https://tinyurl.com/ms8y9rnj

𝟓. 𝐂𝐡𝐢𝐧𝐚’𝐬 𝐓𝐞𝐧𝐜𝐞𝐧𝐭 𝐨𝐟𝐟𝐥𝐨𝐚𝐝𝐢𝐧𝐠 𝐦𝐨𝐫𝐞 𝐬𝐭𝐚𝐤𝐞 𝐢𝐧 𝐏𝐨𝐥𝐢𝐜𝐲𝐁𝐚𝐳𝐚𝐚𝐫

Chinese internet giant Tencent has offloaded 1.3% in PB Fintech, which owns insurance platform Policybazaar, for Rs 1,080 crore ($129 million) over the last two weeks. This was a bulk deal in the public market.

Tencent’s shareholding in PB Fintech will reduce from 6.2% to about 4.9%, which will be worth more than $340 million. Last year, Tencent sold a 2% stake for $68 million, and since then, PB Fintech’s share price has doubled.

Tencent was an active investor in Indian startups until 2020, when the Indian government put curbs on investments from Chinese companies following border clashes. PB Fintech founder Yashish Dahiya spoke out against China’s aggression in 2020, saying he would buy back Tencent shares if the opportunity arose.

Tencent’s share sale follows Tiger Global and SoftBank Vision Fund’s full exit from the Indian unicorn. SoftBank made $640 million on its $200-million investment, while Tiger netted $232 million on its $44-million bet.

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝙋𝙤𝙡𝙞𝙘𝙮𝘽𝙖𝙯𝙖𝙖𝙧'𝙨 2𝙭 𝙨𝙪𝙧𝙜𝙚 𝙖𝙢𝙞𝙙 𝙏𝙚𝙣𝙘𝙚𝙣𝙩'𝙨 𝙜𝙚𝙤𝙥𝙤𝙡𝙞𝙩𝙞𝙘𝙖𝙡𝙡𝙮-𝙩𝙞𝙣𝙜𝙚𝙙 𝙚𝙭𝙞𝙩 𝙛𝙡𝙞𝙥𝙨 𝙩𝙝𝙚 𝙨𝙘𝙧𝙞𝙥𝙩: 𝙄𝙨 𝙄𝙣𝙙𝙞𝙖𝙣 𝙩𝙚𝙘𝙝 𝙣𝙤𝙬 𝙥𝙧𝙞𝙘𝙞𝙣𝙜 𝙞𝙣 𝙨𝙤𝙫𝙚𝙧𝙚𝙞𝙜𝙣𝙩𝙮 𝙧𝙞𝙨𝙠 𝙖𝙨 𝙖 𝙘𝙤𝙢𝙥𝙚𝙩𝙞𝙩𝙞𝙫𝙚 𝙚𝙙𝙜𝙚? 𝙊𝙧 𝙬𝙞𝙡𝙡 𝙨𝙝𝙪𝙣𝙣𝙞𝙣𝙜 𝙘𝙚𝙧𝙩𝙖𝙞𝙣 𝙛𝙤𝙧𝙚𝙞𝙜𝙣 𝙘𝙖𝙥𝙞𝙩𝙖𝙡𝙨 𝙡𝙚𝙖𝙫𝙚 𝙤𝙪𝙧 𝙨𝙩𝙖𝙧𝙩𝙪𝙥𝙨 𝙫𝙪𝙡𝙣𝙚𝙧𝙖𝙗𝙡𝙚 𝙩𝙤 𝙩𝙝𝙚 𝙣𝙚𝙭𝙩 𝙛𝙪𝙣𝙙𝙞𝙣𝙜 𝙬𝙞𝙣𝙩𝙚𝙧? 𝙒𝙞𝙩𝙝 𝙏𝙞𝙜𝙚𝙧 𝙖𝙣𝙙 𝙎𝙤𝙛𝙩𝘽𝙖𝙣𝙠 𝙖𝙡𝙨𝙤 𝙚𝙭𝙞𝙩𝙞𝙣𝙜 𝙥𝙧𝙤𝙛𝙞𝙩𝙖𝙗𝙡𝙮, 𝙞𝙨 𝙄𝙣𝙙𝙞𝙖'𝙨 𝙩𝙚𝙘𝙝 𝙨𝙘𝙚𝙣𝙚 𝙣𝙤𝙬 𝙧𝙤𝙗𝙪𝙨𝙩 𝙚𝙣𝙤𝙪𝙜𝙝 𝙩𝙤 𝙩𝙝𝙧𝙞𝙫𝙚 𝙬𝙞𝙩𝙝𝙤𝙪𝙩 𝙥𝙖𝙩𝙞𝙚𝙣𝙩 𝙛𝙤𝙧𝙚𝙞𝙜𝙣 𝙘𝙖𝙥𝙞𝙩𝙖𝙡?

Source: The Arc - https://tinyurl.com/4cp2f7t8

Share your take on the 🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩 below! ⬇️

The Morning Vine: News for Your Office Commute 📰

Welcome to Indian Startups's Private Community

https://www.cnbctv18.com/startup/bharatpe-turns-profitable-5-years-after-being-founded-ashneer-grover-rapped-by-delhi-high-court-18420851.htm?amp

Seems like $180Mn annualised revenue. Valued at 16.1x of revenue for the last round. Hmm.

Product Manager

Why did this happen? Slice already owns an NBFC license. What does this help them achieve? 
 "to better serve their shared mission and reach more consumers who currently lack access to basic banking services"

Slice merges with North East Small Finance Bank

It helps them achieve a lot. They can take deposits, extend loans, issue cards without needing a partner and maybe start mutual funds and insurance businesses. Huge W for Slice.

Analyst

RBI guidelines regarding lending has started hitting hard on fintechs. Phonepe was about to pivot its business model to lending to turn profitable.

Software Engineer

Here's we go with the Grapevine News Bulletin - 5 handpicked scoops! 🗞️ Devour these tidbits in under 3 minutes and get your brain buzzing!

Let's go!

𝟏.⁠ 𝐢𝐱𝐢𝐠𝐨, 𝐚 '𝐜𝐨𝐜𝐤𝐫𝐨𝐚𝐜𝐡 𝐬𝐭𝐚𝐫𝐭𝐮𝐩', 𝐢𝐬 𝐠𝐨𝐢𝐧𝐠 𝐩𝐮𝐛𝐥𝐢𝐜 𝐚𝐟𝐭𝐞𝐫 𝟏𝟖 𝐲𝐞𝐚𝐫𝐬 𝐨𝐟 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬

Ixigo, an online travel aggregator, is going public next week, targeting Rs 740 crore ($89 million) primarily through a sale of shares by existing investors.

The IPO is expected to value Ixigo at Rs 3,600 crore ($430 million), 20% higher than its 2021 private valuation. Ixigo's financials show strong growth, with a 32% increase in operating revenue to Rs 501 crore in FY23 and a net profit of Rs 23 crore. Ixigo's valuation appears to be a potential bargain compared to peers like EaseMyTrip and MakeMyTrip.

Existing investors like Elevation Capital and Peak XV Partners are set to make significant returns, with Elevation expected to make a 13X return.

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝘾𝙤𝙪𝙡𝙙 𝙞𝙭𝙞𝙜𝙤'𝙨 𝙢𝙤𝙙𝙚𝙨𝙩 𝙫𝙖𝙡𝙪𝙖𝙩𝙞𝙤𝙣 𝙘𝙤𝙢𝙥𝙖𝙧𝙚𝙙 𝙩𝙤 𝙥𝙚𝙚𝙧𝙨 𝙡𝙞𝙠𝙚 𝙈𝙖𝙠𝙚𝙈𝙮𝙏𝙧𝙞𝙥 𝙞𝙣𝙙𝙞𝙘𝙖𝙩𝙚 𝙖 𝙢𝙖𝙧𝙠𝙚𝙩 𝙘𝙤𝙧𝙧𝙚𝙘𝙩𝙞𝙤𝙣 𝙞𝙣 𝙩𝙧𝙖𝙫𝙚𝙡 𝙩𝙚𝙘𝙝 𝙫𝙖𝙡𝙪𝙖𝙩𝙞𝙤𝙣𝙨, 𝙤𝙧 𝙖𝙣 𝙤𝙥𝙥𝙤𝙧𝙩𝙪𝙣𝙞𝙩𝙮 𝙛𝙤𝙧 𝙥𝙤𝙨𝙩-𝙄𝙋𝙊 𝙫𝙖𝙡𝙪𝙚 𝙘𝙧𝙚𝙖𝙩𝙞𝙤𝙣 𝙩𝙝𝙧𝙤𝙪𝙜𝙝 𝙤𝙥𝙚𝙧𝙖𝙩𝙞𝙤𝙣𝙖𝙡 𝙚𝙭𝙘𝙚𝙡𝙡𝙚𝙣𝙘𝙚?

Source: Inc42 - https://bit.ly/3KBzNEM

𝟐. ⁠𝐔𝐧𝐚𝐜𝐚𝐝𝐞𝐦𝐲 𝐜𝐨-𝐟𝐨𝐮𝐧𝐝𝐞𝐫 𝐇𝐞𝐦𝐞𝐬𝐡 𝐒𝐢𝐧𝐠𝐡 𝐬𝐭𝐞𝐩𝐬 𝐝𝐨𝐰𝐧 𝐚𝐬 𝐂𝐓𝐎

The co-founder of the edtech platform Unacademy, Hemesh Singh, is stepping down from his role as Chief Technology Officer (CTO). He will continue in an advisory role at the company, but his future plans are unclear.

Unacademy's focus has shifted more towards the offline market, which is now a central part of their business. The online test-prep operation is expected to decrease in 2023.

There have been other top-level exits at Unacademy recently. The company has raised significant funding over the past few years, with its valuation reaching over $3 billion.

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝙃𝙚𝙢𝙚𝙨𝙝'𝙨 𝙚𝙭𝙞𝙩 𝙨𝙞𝙜𝙣𝙖𝙡𝙨 𝙖 𝙨𝙩𝙧𝙖𝙩𝙚𝙜𝙞𝙘 𝙨𝙝𝙞𝙛𝙩 𝙖𝙩 𝙐𝙣𝙖𝙘𝙖𝙙𝙚𝙢𝙮, 𝙛𝙤𝙘𝙪𝙨𝙞𝙣𝙜 𝙢𝙤𝙧𝙚 𝙤𝙣 𝙤𝙛𝙛𝙡𝙞𝙣𝙚 𝙜𝙧𝙤𝙬𝙩𝙝 𝙧𝙖𝙩𝙝𝙚𝙧 𝙩𝙝𝙖𝙣 𝙞𝙩𝙨 𝙙𝙞𝙜𝙞𝙩𝙖𝙡 𝙧𝙤𝙤𝙩𝙨. 𝙃𝙤𝙬 𝙬𝙞𝙡𝙡 𝙩𝙝𝙞𝙨 𝙤𝙛𝙛𝙡𝙞𝙣𝙚 𝙥𝙞𝙫𝙤𝙩 𝙞𝙢𝙥𝙖𝙘𝙩 𝙤𝙩𝙝𝙚𝙧 𝙚𝙙𝙩𝙚𝙘𝙝 𝙥𝙡𝙖𝙮𝙚𝙧𝙨, 𝙖𝙣𝙙 𝙙𝙤𝙚𝙨 𝙞𝙩 𝙞𝙣𝙙𝙞𝙘𝙖𝙩𝙚 𝙖 𝙗𝙧𝙤𝙖𝙙𝙚𝙧 𝙩𝙧𝙚𝙣𝙙 𝙤𝙛 𝙙𝙞𝙜𝙞𝙩𝙖𝙡-𝙛𝙞𝙧𝙨𝙩 𝙘𝙤𝙢𝙥𝙖𝙣𝙞𝙚𝙨 𝙚𝙢𝙗𝙧𝙖𝙘𝙞𝙣𝙜 𝙝𝙮𝙗𝙧𝙞𝙙 𝙢𝙤𝙙𝙚𝙡𝙨 𝙛𝙤𝙧 𝙨𝙪𝙨𝙩𝙖𝙞𝙣𝙖𝙗𝙡𝙚 𝙜𝙧𝙤𝙬𝙩𝙝?

Source: The Arc - https://bit.ly/3VBjrCt

𝟑.⁠ ⁠𝐋𝐞𝐧𝐝𝐢𝐧𝐠 𝐚𝐩𝐩 𝐅𝐢𝐛𝐞 𝐫𝐚𝐢𝐬𝐞𝐬 $𝟗𝟎 𝐦𝐧 𝐚𝐬 𝐥𝐨𝐚𝐧 𝐛𝐨𝐨𝐤 𝐝𝐨𝐮𝐛𝐥𝐞𝐬

The lending app Fibe has raised $90 million in a new funding round, nearly doubling its valuation to close to $600 million. The round was led by TR Capital, Amara Partners, and Trifecta Capital, with existing investors TPG and Norwest also participating. 

Fibe provides unsecured personal loans of up to Rs 5 lakh, competing with players like KreditBee and Moneyview. It is profitable, with a net profit of Rs 88 crore for the 9 months ending December 2023. Its loan book has more than tripled in the last 2 years, reaching Rs 3,431 crore as of December 2023.

The company had to write off loans worth Rs 94 crore in the 9 months ending December 2023, over twice the Rs 44.5 crore in FY23. Its NBFC had a gross NPA of 2.86% in December 2023, down from 3.5% in March 2023.

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝙁𝙞𝙗𝙚'𝙨 𝙜𝙧𝙤𝙬𝙩𝙝 𝙖𝙣𝙙 𝙥𝙧𝙤𝙛𝙞𝙩𝙖𝙗𝙞𝙡𝙞𝙩𝙮 𝙨𝙝𝙤𝙬𝙘𝙖𝙨𝙚 𝙩𝙝𝙚 𝙢𝙖𝙨𝙨𝙞𝙫𝙚 𝙥𝙤𝙩𝙚𝙣𝙩𝙞𝙖𝙡 𝙞𝙣 𝙄𝙣𝙙𝙞𝙖'𝙨 𝙙𝙞𝙜𝙞𝙩𝙖𝙡 𝙡𝙚𝙣𝙙𝙞𝙣𝙜 𝙨𝙥𝙖𝙘𝙚, 𝙙𝙚𝙨𝙥𝙞𝙩𝙚 𝙧𝙞𝙨𝙞𝙣𝙜 𝙉𝙋𝘼𝙨. 𝘼𝙨 𝙙𝙞𝙜𝙞𝙩𝙖𝙡 𝙡𝙚𝙣𝙙𝙚𝙧𝙨 𝙡𝙞𝙠𝙚 𝙁𝙞𝙗𝙚 𝙨𝙘𝙖𝙡𝙚 𝙧𝙖𝙥𝙞𝙙𝙡𝙮, 𝙝𝙤𝙬 𝙬𝙞𝙡𝙡 𝙩𝙧𝙖𝙙𝙞𝙩𝙞𝙤𝙣𝙖𝙡 𝙗𝙖𝙣𝙠𝙨 𝙖𝙣𝙙 𝙉𝘽𝙁𝘾𝙨 𝙧𝙚𝙨𝙥𝙤𝙣𝙙 𝙩𝙤 𝙢𝙖𝙞𝙣𝙩𝙖𝙞𝙣 𝙩𝙝𝙚𝙞𝙧 𝙢𝙖𝙧𝙠𝙚𝙩 𝙨𝙝𝙖𝙧𝙚 𝙞𝙣 𝙥𝙚𝙧𝙨𝙤𝙣𝙖𝙡 𝙡𝙤𝙖𝙣𝙨?

Source: Entrackr - https://bit.ly/3X9ezpg 

𝟒.⁠ ⁠𝐇𝐞𝐫𝐨 𝐌𝐨𝐭𝐨𝐂𝐨𝐫𝐩-𝐛𝐚𝐜𝐤𝐞𝐝 𝐀𝐭𝐡𝐞𝐫 𝐫𝐞𝐩𝐨𝐫𝐭𝐬 𝐟𝐥𝐚𝐭 𝐫𝐞𝐯𝐞𝐧𝐮𝐞𝐬 𝐢𝐧 𝐅𝐘𝟐𝟒

Ather Energy's revenues were flat at ₹1,753 crore in FY24, down 2% from the previous year

This is due to increasing competition in the Indian electric two-wheeler market, with players like Ola Electric, Bajaj, and TVS vying for market share

Ather had seen a massive 4x revenue growth in the previous year, from ₹408 crore to ₹1,784 crore

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝘼𝙩𝙝𝙚𝙧'𝙨 𝙛𝙡𝙖𝙩 𝙜𝙧𝙤𝙬𝙩𝙝 𝙞𝙨 𝙖 𝙬𝙖𝙠𝙚-𝙪𝙥 𝙘𝙖𝙡𝙡, 𝙝𝙞𝙜𝙝𝙡𝙞𝙜𝙝𝙩𝙞𝙣𝙜 𝙩𝙝𝙚 𝙛𝙞𝙚𝙧𝙘𝙚 𝙘𝙤𝙢𝙥𝙚𝙩𝙞𝙩𝙞𝙤𝙣 𝙖𝙣𝙙 𝙥𝙤𝙩𝙚𝙣𝙩𝙞𝙖𝙡 𝙨𝙖𝙩𝙪𝙧𝙖𝙩𝙞𝙤𝙣 𝙞𝙣 𝙄𝙣𝙙𝙞𝙖'𝙨 𝙚𝙡𝙚𝙘𝙩𝙧𝙞𝙘 𝙩𝙬𝙤-𝙬𝙝𝙚𝙚𝙡𝙚𝙧 𝙢𝙖𝙧𝙠𝙚𝙩. 𝙒𝙞𝙩𝙝 𝙢𝙪𝙡𝙩𝙞𝙥𝙡𝙚 𝙥𝙡𝙖𝙮𝙚𝙧𝙨 𝙫𝙮𝙞𝙣𝙜 𝙛𝙤𝙧 𝙙𝙤𝙢𝙞𝙣𝙖𝙣𝙘𝙚, 𝙬𝙞𝙡𝙡 𝙬𝙚 𝙨𝙚𝙚 𝙘𝙤𝙣𝙨𝙤𝙡𝙞𝙙𝙖𝙩𝙞𝙤𝙣 𝙞𝙣 𝙩𝙝𝙚 𝙀𝙑 𝙩𝙬𝙤-𝙬𝙝𝙚𝙚𝙡𝙚𝙧 𝙨𝙥𝙖𝙘𝙚, 𝙤𝙧 𝙬𝙞𝙡𝙡 𝙙𝙞𝙛𝙛𝙚𝙧𝙚𝙣𝙩𝙞𝙖𝙩𝙞𝙤𝙣 𝙩𝙝𝙧𝙤𝙪𝙜𝙝 𝙩𝙚𝙘𝙝𝙣𝙤𝙡𝙤𝙜𝙮 𝙖𝙣𝙙 𝙗𝙧𝙖𝙣𝙙 𝙡𝙤𝙮𝙖𝙡𝙩𝙮 𝙗𝙚𝙘𝙤𝙢𝙚 𝙠𝙚𝙮 𝙜𝙧𝙤𝙬𝙩𝙝 𝙙𝙧𝙞𝙫𝙚𝙧𝙨?

Source: MoneyControl - https://bit.ly/3x98gY4

𝟓. ⁠𝐁𝐚𝐣𝐚𝐣 𝐇𝐨𝐮𝐬𝐢𝐧𝐠 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐟𝐢𝐥𝐞𝐬 𝐩𝐚𝐩𝐞𝐫𝐬 𝐟𝐨𝐫 𝐑𝐬 𝟕,𝟎𝟎𝟎 𝐂𝐫 𝐈𝐏𝐎

The IPO will comprise a fresh issue of equity shares worth up to Rs 4,000 crore and an offer for sale of equity shares worth Rs 3,000 crore by parent Bajaj Finance.

The proceeds will be used to augment Bajaj Housing Finance's capital base to meet future capital requirements.

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝘽𝙖𝙟𝙖𝙟 𝙃𝙤𝙪𝙨𝙞𝙣𝙜 𝙁𝙞𝙣𝙖𝙣𝙘𝙚'𝙨 𝙄𝙋𝙊 𝙧𝙚𝙛𝙡𝙚𝙘𝙩𝙨 𝙜𝙧𝙤𝙬𝙞𝙣𝙜 𝙞𝙣𝙫𝙚𝙨𝙩𝙤𝙧 𝙘𝙤𝙣𝙛𝙞𝙙𝙚𝙣𝙘𝙚 𝙞𝙣 𝙄𝙣𝙙𝙞𝙖'𝙨 𝙝𝙤𝙪𝙨𝙞𝙣𝙜 𝙛𝙞𝙣𝙖𝙣𝙘𝙚 𝙨𝙚𝙘𝙩𝙤𝙧, 𝙙𝙧𝙞𝙫𝙚𝙣 𝙗𝙮 𝙪𝙧𝙗𝙖𝙣𝙞𝙯𝙖𝙩𝙞𝙤𝙣 𝙖𝙣𝙙 𝙖 𝙧𝙞𝙨𝙞𝙣𝙜 𝙢𝙞𝙙𝙙𝙡𝙚 𝙘𝙡𝙖𝙨𝙨. 𝙒𝙞𝙩𝙝 𝙢𝙤𝙧𝙚 𝙝𝙤𝙪𝙨𝙞𝙣𝙜 𝙛𝙞𝙣𝙖𝙣𝙘𝙚 𝙘𝙤𝙢𝙥𝙖𝙣𝙞𝙚𝙨 𝙜𝙤𝙞𝙣𝙜 𝙥𝙪𝙗𝙡𝙞𝙘, 𝙬𝙞𝙡𝙡 𝙩𝙝𝙞𝙨 𝙞𝙣𝙘𝙧𝙚𝙖𝙨𝙚𝙙 𝙘𝙖𝙥𝙞𝙩𝙖𝙡 𝙡𝙚𝙖𝙙 𝙩𝙤 𝙢𝙤𝙧𝙚 𝙖𝙛𝙛𝙤𝙧𝙙𝙖𝙗𝙡𝙚 𝙝𝙤𝙪𝙨𝙞𝙣𝙜 𝙤𝙥𝙩𝙞𝙤𝙣𝙨, 𝙤𝙧 𝙬𝙞𝙡𝙡 𝙞𝙩 𝙥𝙧𝙞𝙢𝙖𝙧𝙞𝙡𝙮 𝙗𝙚𝙣𝙚𝙛𝙞𝙩 𝙝𝙞𝙜𝙝-𝙚𝙣𝙙 𝙧𝙚𝙖𝙡 𝙚𝙨𝙩𝙖𝙩𝙚?

Source: YourStory - https://bit.ly/3KBAj5G

Got a zesty take on our tangy 🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩? Discuss in comments below! ⬇️

Grapevine News Bulletin 📰

Their consumer lending app has been pretty much shut for a while and tough competition fused with frequent management diktats seems to indicate that this might be true.

BharatPe laying off people silently

- Student housing startup Your-Space reported a 21.8% increase in revenue to Rs 142.7 crore in FY24, up from Rs 117.2 crore in FY23. 
- The company's losses also rose, reaching Rs 30.7 crore in FY24, a 20% increase from Rs 25.5 crore in FY23. 
- Your-Space operates over 60 smart spaces providing affordable housing for students, with income from residential services accounting for 99.5% of total operating revenue. 
- Rental costs for accommodations made up 52.6% of total expenses, rising by 34% to Rs 92.2 crore in FY24. 
- The company has raised Rs 129 crore to date and competes with other student housing providers like Abuzz Oxfordcaps and Stanza Living.

Source: [Entrackr](https://entrackr.com/2024/10/your-space-posts-rs-142-cr-revenue-in-fy24-losses-up-20/)

Your-Space Revenue Hits Rs 142 Cr in FY24, Losses Rise by 20%

The Morning Vine 🍇

- Stockbroking startup Dhan reported a 600% increase in gross revenues, reaching Rs 380 crore in FY24. 
- The company also reported a net profit of Rs 155 crore, a significant turnaround from the net loss of Rs 22 crore in the previous fiscal. 
- Dhan is currently in talks to raise fresh capital of around $100 million. 
- The company's growth reflects the overall expansion of the equity trading market and the rise of new-age discount brokers. 
- Despite regulatory challenges, Dhan is diversifying its offerings to maintain its revenue streams.

Source: [Economic Times](https://economictimes.indiatimes.com/tech/startups/dhan-swings-to-profit-in-fy24-with-gross-revenues-of-rs-380-crore-up-600-from-last-year/articleshow/113874378.cms)

Dhan's Revenue Skyrockets 600%, Reports Maiden Profits of Rs 155 Crore in FY24

Goldman Sachs has set a price target of INR 2,800 on MapmyIndia's stock, implying an upside of almost 40% from its close on Wednesday.

Here's why this matters:

1/ Riding the Digital Wave: MapmyIndia isn't just mapping streets; it's mapping India's digital transformation. From smart cities to autonomous vehicles, the company is at the intersection of critical growth sectors.

2/ The Numbers Tell a Story:
- 35% YoY revenue jump to INR 379.4 Cr
- 25% profit growth to INR 134.3 Cr
- Projected 38% revenue CAGR (FY24-FY27)
These aren't just figures; they're proof of a scalable, profitable model in a sector where growth often comes at the cost of profitability.

3/ Beyond Navigation: MapmyIndia's expansion into telematics and government digitization signals a pivot from being a map provider to becoming a critical digital infrastructure player.

4/ The 40% Upside Question: Goldman's target implies MapmyIndia is significantly undervalued. Is the market missing something, or is Goldman overly optimistic?

5/ The Bigger Picture: MapmyIndia's success could be a bellwether for India's broader tech ecosystem, showcasing the potential for homegrown companies to dominate in niche, high-growth sectors.

🍇 for Thought: Goldman Sachs' bullish outlook on MapmyIndia challenges the notion of Google Maps' invincibility in the geospatial landscape. Despite Google's global dominance, MapmyIndia's projected growth suggests there's significant value in localized, specialized mapping solutions, especially in sectors like automotive and government. This highlights the potential for homegrown tech companies to carve out lucrative niches in markets traditionally dominated by global giants. However, MapmyIndia's ability to sustain its growth and fend off competition from both local and international players will be crucial in determining whether it can truly rival Google's influence in India's digital mapping ecosystem. 🗺️🇮🇳

Image Credits: Inc42

Goldman Sachs Sees 40% Upside In MapmyIndia; Stock Hits 20% Upper Circuit

How is Paytm, Bharatpe and Khatabook are doing in lending?

Authorization will enable the payment companies to onboard new merchants onto its platform for processing online payments. 

Folks at these companies, how big is this? How is the company reacting?

Last year, the central bank asked Razorpay, Cashfree, PayU, and Paytm, which hold in-principal approvals for payment aggregator licence, to stop on-boarding new merchants till they get the final licence.

RBI lifts ban on Razorpay, Cashfree; allows onboarding new merchants

- Licious reported a 44% decrease in loss to INR 293.77 Cr in FY24 from INR 528.5 Cr in FY23.
- However, the startup's revenue also declined by 8.4% to INR 685.05 Cr in FY24 from INR 748 Cr in FY23.
- The decline in revenue was attributed to the closure of sales from Dunzo and Swiggy Meatstore, and reduced exposure to modern trade and local stores.
- Despite this, the company saw a 35% YoY growth in quick commerce deliveries and is now piloting 30-minute meat deliveries in Gurugram.
- Licious is also planning to expand its offline store network, recently acquiring Bengaluru-based retailer My Chicken and More.

Source: [Inc42](https://inc42.com/buzz/licious-says-fy24-loss-down-44-yoy-to-inr-294-cr/)

Licious Reports 44% Decrease in FY24 Loss to INR 294 Cr

Going through the updates around founders fighting, do you think BharatPe would fail? Or is it too big to fail?

How big is BharatPe to fail?

- PhonePe Group reported revenue of INR 5064 Cr for FY23-24, a 74% increase from INR 2914 Cr in FY22-23.
- The company achieved an Adjusted PAT of INR 197 Cr for FY23-24, reversing a loss of INR 738 Cr from the previous year.
- Standalone Payments business recorded an Adjusted PAT of INR 710 Cr for FY23-24, compared to a loss of INR 194 Cr in FY22-23.
- Growth driven by market leadership, platform reliability, and cross-selling a diverse product portfolio.
- CFO Adarsh Nahata and CEO Sameer Nigam emphasize sustainable growth, revenue diversification, and disciplined financial management. 

 Source: [Phonepe](https://www.phonepe.com/press/phonepe-grows-revenue-at-74-y-o-y-and-turns-adjusted-pat-positive)

PhonePe Achieves 74% Revenue Growth and Turns Adjusted PAT Positive

Is this true?

Their consumer lending app has been pretty much shut for a while and tough competition fused with frequent management diktats seems to indicate that this might be true.

Silent layoffs - BharatPe

Do you guys agree with the list? Anymore candidates

Dead 11

Oyo was the only Indian startup who had defined a  India specific problem, had a solution and had money to scale. What went wrong? What a pity. 
  
 In comparison Airbnb made it big...

BharatPe's FY24 Revenue Skyrockets to INR 1,426 Cr

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