UAEbased Redwood has acquired a majority stake in Loco, aiming for international market expansion.  The $65 million deal provides a full exit for all existing Loco backers.  Loco's valuation has dr...

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- UAE-based Redwood has acquired a majority stake in Loco, aiming for international market expansion.
- The $65 million deal provides a full exit for all existing Loco backers.
- Loco's valuation has dropped from its $150 million peak in 2022, reflecting broader industry struggles.
- The new investment will fuel Loco's global expansion efforts, according to the founders.
- Loco aims to build a Twitch-like platform, targeting markets with limited Amazon-owned service penetration. 

 Source: [Techcrunch](https://techcrunch.com/2024/09/26/indian-game-streaming-startup-loco-sells-majority-stake-to-redwood/)

Indian game streaming startup Loco sells majority stake to Redwood

Journalist

Indian game streaming startup Loco sells majority stake to Redwood- Grapevine

Welcome to Indian Startups's Private Community

How is the business growth ? It’s just a sub vertical of YT gaming but they have made into a business.

Not sure about revenue but their last round was a year before. 

Also, Heard that they are fully remote. 

Rooter is another one which something similar in game streaming.

Reviews about Loco

Consultant

Got interview call from a consultant for this company. Seems they are into entertainment and gaming. 

Anyone heard of it and how is work culture there ?

They are Delhi based and is the fully wfo or hybrid or remote ?

Heard off RuskMedia/Rumble ?

Today raised $22m series B.

No revenue. 

Video streaming app with Less than 1m daily users in india is valued over $100m... So every random person in india is worth over $100? Lol.

Competition, Chingari, Rooter, both in trouble. Eloelo has worse engagement than both (I looked on data.ai)

Definitely faking numbers to investors, why else would anyone invest.

Eloelo is probably a scam

Investor

Budget 2024 scrapped the angel tax for all investors, creating the ultimate playground for innovation and entrepreneurship in India.

Big news for Indian startups!

Ullu & PocketFM is the start. The next wave of capital generating degeneracy (thurst games) is about to be born in India imo.
Sorry in advance for giving the secret out to "Consumer" VCs who will fund these startups 🙏🏽

by @BelindaErcan https://www.youtube.com/watch?v=GIv1apr-z5g► Asmongold's Twitch: https://www.twitch.tv/zackrawrr► Asmongold's Twitter: https://twitter.com/a...

This Secret Adult Gaming Platform Is Bigger Than Steam | Asmongold Reacts

An Indian company in the thurst games segment, soon?

Product Manager

I will start. Don't ask me to prove anything.

1. The CEO of MPL bought a ~20cr house in embassy grove, Bangalore just before laying off 50% of the MPL team this week.

2. VC funded Live streaming apps like rooter, eloelo,  are basically frauds. Get tonnes of cheap users by running ads that look like porn, the real engagement is really bad unless they do giveaways. They use VC money to show porn ads and do giveaways, brag about downloads & engagement to raise even more VC money. It's a total ponzi.

Got some secrets off your chest 🧰

A relative of mine lost INR 20 Lakhs in RummyCircle. He is above 50 years old and lives in a village.

Software Engineer

Considering Edtech, Fintech, E-commerce is done

What is the next big thing in India?

Growth Manager

Need to see how many here are interested in the esports industry.

Esports & Gaming

Founder

Cred is truly a topic of surprise for me. Yes, I understand it has created a community of top spenders/credit worthy people in India. I also understand that they can use the information on such people for creating value for themselves.

Being a cred user, I only use it to pay the bills. I really wonder if they have built any b2b business or alternative source of income beyond what's seen to the end user. What's the game plan for the cred? 

I also applaud the fact that cred hasn't laid off people having paid them better than most companies. I really wonder if the business is really that strong or the conviction is. Would you join cred if given a chance to work there?

Cred

I feel cred is doomed and just trying to increase its value. 
 And the end goal is to sell the cred to someone with higher value and make money.

Reliance's Viacom18 to acquire Disney's StarIndia through a Share swap deal worth $8bn

Corporate Strategist

Zomato is eyeing a new dish: Paytm's ticketing business. The potential Rs 1,500 crore acquisition is a bold move by Zomato to diversify beyond its core food delivery domain.

The Strategy:
- Bolster "going-out" vertical (event bookings, dining) to offset slowing food delivery growth
- Leverage Paytm's established ticketing platforms to expand the segment
- Capitalize on strong revenue growth in Zomato's current going-out business

For Paytm, the sale is a strategic slice. Faced with regulatory hurdles, the company is refocusing on its payments and lending operations. The deal would allow Paytm to streamline its portfolio and double down on its core strengths.

The acquisition underscores the shifting strategies of India's tech titans as they navigate a fiercely competitive landscape. With growth slowing in traditional segments, companies like Zomato are hunting for new avenues to keep the revenue engine humming.

Another Blinkit story in the making? 🚀

Zomato's Ticket to Growth: Paytm's Booking Biz on the Menu 🎟️🍽️

https://economictimes.indiatimes.com/tech/startups/zomato-offers-to-acquire-shiprocket-for-2-million-report/articleshow/106183569.cms

Any one has any idea on what valuation Tribe is looking to lead $75M round into Shiprocket?

https://techcrunch.com/2023/12/11/tribe-capital-eyes-leading-75m-plus-funding-in-india-shiprocket/

Looks like they are looking to preempt

Zomato's offer to acquire Shiprocket @ $2B

Product Owner

I feel they would be raising for 4-5 months of runway at a time this way. Anybody knows?

The fundraise is an extension of its convertible debt round in which it has already raised $49 million from Tencent and existing investors such as Lightspeed

Sharechat closes $16 million fundraise while firing up to 5% of workforce

Sharechat raises $16Mn in extended debt round. Also laid off 5% workforce.

Analyst

Hey there! Anyone here you recently had Founder's round for APM role at Loco? Just wanted to understand what can I expect in this round, is it more of cultural fit or product based?

TIA!

Founder's Round at Loco for APM

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.

This is super interesting. They had a small footprint in India so far, but the move indicates another big gun coming into India in a serious way. 
After many VC exits and shutdowns, this one is a breath of fresh air. 

By any chance does anyone know which fund it is?

General Catalyst, one of the largest U.S. venture capital firms, is in talks to acquire an India-focused VC as part of efforts to expand its presence in General Catalyst, one of the largest U.S. venture capital firms, is in talks to acquire an India-focused venture fund, sources told TechCrunch.

Indian game streaming startup Loco sells majority stake to Redwood

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