We could have pooled and owned a music service!

Founder

Product Manager

They might have acquired the debt as well maybe

Software Developer

The owner owns both, so they decided the price

Scrum Master

Welcome to News Discussion's Private Community

Gaana Acquired for Just 25L !

Software Engineer

Gaana Acquired for Just 25L !- Grapevine

- Airtel announces shutdown of Wynk Music, its music streaming app
- Wynk employees to be relocated to other parts of Airtel's business
- Airtel customers to retain access to music streaming via Apple Music
- Wynk Premium subscribers to receive exclusive offers for Apple services
- Decision surprising as Wynk's download share grew from 5% to 8% in recent years 

 Source: [Techcrunch](https://techcrunch.com/2024/08/27/indias-airtel-to-shut-down-music-streaming-app-wynk/)

Breaking: Airtel to Discontinue Wynk Music Streaming Service

Journalist

Welcome to Indian Startups's Private Community

Being a founder myself I am confused about these happenings. We have companies like Wynk Music, Gaana, etc. which were quite humongous names but there sudden stop like this is making me feel queasy. 

I understand few of the startups like Zomato, Ola, Nykaa, etc. are doing good but there are thousands of small startups closing every year and now big ones too. 

I just want to understand that is there a huge fault line that I am not seeing or is there any other reason altogether?

Why are reasonably big successful startups coming to such abrupt end?

The timing of Zeptos fundraise is significant given the slump in investments into growth- and late-stage startups on the one hand and the correction being witnessed in the quick commerce segment on the other.

Unicorn drought ends as Zepto raises $200 million at $1.4 billion valuation

Zepto becomes India's 1st 2023 unicorn

Everything kept aside, it’s genuinely awe-inspiring that they’ve been able to do this in a market with close to zero interest in consumer internet plays, and most models failing  
  
 There’s definitely something about the way they executed. And many good things are said within the ecosystem about Aadit as a founder!

Analyst

Welcome to Office Gossip's Private Community

Bik Gayi hai Grapevine team!

- Saregama India Ltd is reportedly negotiating to acquire a majority stake in Karan Johar’s Dharma Productions. 
- The deal is not yet finalized and may not proceed. 
- Dharma Productions has been actively seeking investments, while Saregama aims to bolster its content and movie catalogue. 
- Saregama's acquisition could leverage Dharma’s industry relationships and project capabilities. 
- Dharma's FY23 revenue stood at ₹1,044.16 crore, with a profit of ₹10.69 crore, while Saregama had a revenue of ₹7,90.3 crore, with a net profit of ₹1,85.1 crore.

Source: [Mint](https://www.livemint.com/industry/media/saregama-in-talks-to-acquire-majority-stake-in-karan-johar-s-dharma-productions-rp-sanjiv-goenka-11728197684333.html)

Saregama in Talks to Acquire Majority Stake in Dharma Productions

Udaan raises $340Mn! How did they manage this? Anybody knows the exact specifics?

The picture isn't as rosy as this headline makes it seem. Basis what I hear, 50-60% drop in valuation. Their last valuation was ~$3Bn so now more like in the $1-1.5Bn range.

Investment Associate

Corporate Strategist

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.

- Severe cash crunch 
- The remaining 50% of salary is expected to be paid on 15th July
- Reliance not willing to invest more funds
- Talks ongoing with PhonePe and Paytm for acquisition (Dunzo would support their ONDC backend delivery logistics)

Things not looking good for Dunzo - 50% Salary paid to Managers and above this month

Okay, unrelated but I have heard reliance invests to destroy.
Most of reliance new age investments, major stakes are under extreme cash loss

Consultant

PREVIOUS POST GOT DELETED!


Rumours are floating that Unacademy is getting sold by one of its main investors to another Edtech company in their portfolio for just 400 Million dollars, their last round valuation was 3.5 Billion dollars 

But founder Gaurav Munjal said they have 200 Million in bank. Getting confused - Is this a repeat of Byju 2.0?

They have fired the CTO and co-founder Hemesh Singh and Roman Saini ( other co-founder) is also not seen anywhere 

I am worried if more people are to be laid off?

More information in comments sourced via a friend

Unacademy getting acquired?

Started working in 2017 (Graduation: Tier 2 College)  in hand salary: 28K per Month. Worked for 2.5yrs, had big dreams, didn’t knew what to do, how do I 10x my salary, saw my manager 40yrs old earning 25LPA in the same company. Realised I don’t want to do this for the next 20yrs and the reach at 25LPA. Started preparing for UPSC (wanted to make it big) realised within 6 months, this is not my cup of tea, appeared for MBA entrance, cleared the exam joined Tier 1 MBA, post MBA: 25LPA + XX Esops in next two years at 1.2Cr CTC inc ESOPs. 

Before 2030 plan to achieve FIRE with 8Cr networth. By 2040 make it 100Cr and retire. Chill at beach with beer in hand and two other friends. 

What’s your story, do share those goldmine inspirational stories!!

Story of Middle Class guy from 3.5LPA CTC to 1.2Cr CTC (46Base + 72Esops) in 4 yrs

Are you considering 72L esops of razorpay as your own networth? 🤔🤔

Senior Product Manager

Where did you work and how much money did you make?

Asking as it looks like a lot of promise of ESOPs and wealth creation has failed employees in this bloodbath slow growth, layoffs, and job changes.

"ESOPs made me rich af"

I have had ESOPS in 2 companies 
#1 - company got acquired ..I got 45 Lacs IN ESOP ...thats 1.5X of my last annualized salary  ( so additional salary for 18 months) 
#2 - Company became unicorn ... I quit and company bought my ESOPs . Got 2 Cr
That is 3X of my annualized salary

Company 1 - I had joined at very early stage ; Company 2 - I joined at mid-stage

UX/UI Designer

LightFury Games, a gaming startup launched by Karan Shroff, plans to utilise the new capital to develop AAA games in India and will initially focus on mobile gaming before expanding to other platforms, including consoles.

LightFury Games secures $8.5 million funding from Blume Ventures, others

Wow. $8.5Mn at Seed, that is some raise. Ex CMO of Unacademy started their gaming studio.

Growth Manager

Please post Gyaan screenshots of chadrayaan that you came across
Highly appreciated if it is from LinkedIn

Time to get some Gyaan 🧘‍♂️

The Startup that you had an offer from but did not join, and then it went big? (Let's take a word from VCs, how they like to use anti portfolio lists on their sites - cos they got an opportunity to enter but missed)

What's your anti-startup

She got a higher valuation before, but accepted at lower valuation and gave more of the equity pie
She was getting an up round, but chose to stick with previous round valuations 

Why?
What am I missing?

Can someone explain Dil Food funding to me?

- Omnichannel jewelry startup **Giva** has raised **Rs 255 crore** in an extended Series B round.
- Early backers **A91 Partners** and **India Quotient** partially exited, realizing significant returns.
- Funds will be used to expand Giva's offline presence, which includes around **150 physical stores** nationwide.
- Giva's revenue grew by **96.4%** in FY23, reaching Rs 165 crore, while losses widened to Rs 45 crore.
- The company competes with brands like **Melorra, Bluestone, CaratLane**, and others.

Source: [Entrackr](https://entrackr.com/2024/10/giva-raises-rs-255-cr-a91-and-india-quotient-get-exit-worth-rs-166-cr/)

Giva Raises Rs 255 Cr in Extended Series B, A91 and India Quotient Partially Exit

- InMobi, backed by SoftBank, has raised $100 million in debt financing to enhance its AI capabilities and fund AI-focused acquisitions.
- The financing was led by MARS Growth Capital, a joint venture between MUFG and Liquidity Group.
- CEO Naveen Tewari emphasized AI's role in revolutionizing ad engagement and outcomes for consumers, advertisers, and publishers.
- InMobi operates two core businesses: InMobi Advertising and Glance, an AI-powered content discovery platform.
- Glance, with over 300 million users, aims to expand globally, supported by investments from Jio Platforms, Google, and Mithril Capital. 

 Source: [Moneycontrol](https://www.moneycontrol.com/news/business/startup/inmobi-secures-100-million-debt-to-fund-its-ai-efforts-acquisitions-12819183.html)

InMobi Secures $100 Million Debt to Fuel AI Ambitions and Acquisitions

A thread:

1.	Over the last 2 months, the Chief Business Officer, Head of Marketing, and Head of Enterprise have been laid off.

2.	CEO has surrounded himself with 3-4 Yes Men/Women who have no expertise in the respective domains that they are currently looking at (being called as Founder’s Office staff – but are basically playing the role of glorified postmen/women)

3.	Rest of the senior leadership has been demoted for all practical purposes and all business decisions are taken in weekend meetings between the CEO, and his close friend (who is also acting as the CBO currently)

4.	Work culture has become so toxic that employees across levels are either looking out or jumping ship or even resigning without offers in hand

5.	There is a ton of investor pressure on the CEO to start showing tangible revenue – classic case of raising money at bloated valuations with no business model in place

Gaana Acquired for Just 25L !

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