Ola valuation down from $7.3b to $1.9b

Ola valuation is now reduced to 1.88 i.e. 74% down from its peak. What's going on with indian unicorns🙃 https://www.ndtvprofit.com/business/olas-valuation-cut-to-under-2-billion-by-vanguard

- Investor 360 One estimates VerSe's worth at $2.9B, down from $5B in April 2022 - VerSe operates news aggregator Dailyhunt, backed by major investors like Ontario Teachers' Pension Plan - 360 One owns a 2% stake in VerSe, disclosed valuation in June update to investors - VerSe spokesperson claims business has grown exponentially since last funding round - Trend aligns with global investors marking down startup valuations, like Fidelity's cuts to X and Gupshup Source: [Techcrunch](https://techcrunch.com/2024/08/30/dailyhunt-parent-verses-valuation-gets-slashed-42-to-2-9b-investor-note/)

- Indian stock markets are rallying but cautious about high valuations for loss-making startups, including Ola Electric. - Ola Electric has reduced its valuation expectations from $8 billion to $4.5 billion pre-money, needing cash for manufacturing expansion and battery cell factory setup. - In early 2023, Ola Electric raised $126 million in equity funding, less than half the intended $300 million, amid a late-stage financing freeze. - The company has significant debt, with Rs 2,155 crore in loans, and plans to use IPO funds to ease this burden. - Market dynamics have shifted for Indian unicorns, with investors now more cautious, impacting valuations and IPO strategies. Source: The Arc

- Oyo's valuation has dropped from $10 billion to $2.4 billion in a recent Series G funding round. - The Gurugram-based budget hotel chain raised $173.5 million, with significant contributions from Patient Capital, InCred Wealth, and J&A Partners. - Oyo's current valuation is now below its total capital raised, which is approximately $3.3 billion. - SoftBank, a major backer, had internally cut Oyo's valuation to $2.7 billion in 2022, a move Oyo previously disputed. - The new funding comes after Oyo withdrew its IPO application for the second time earlier this year. - India’s market regulator, SEBI, has never approved the startup’s application for an IPO. Source: [Techcrunch](https://techcrunch.com/2024/08/11/oyo-valuation-crashes-over-75-in-new-funding/)

- The Indian Premier League's (IPL) business value has declined by 11.7% to $9.9 billion in 2024, marking its first significant drop. - A reassessment of media rights values and the failed Zee-Sony merger are primary factors behind the decline. - The Women's Premier League (WPL) saw an 8% increase in value, rising to $160 million. - Mumbai Indians remain the most valued IPL franchise, followed by Chennai Super Kings. - The shift towards digital platforms presents both opportunities and challenges for the IPL. Source: [Business Standard](https://www.business-standard.com/finance/personal-finance/for-the-first-time-ipl-s-enterprise-value-drops-11-7-to-9-9-billion-124090400103_1.html)

- Ola Electric, led by Bhavish Aggarwal and backed by Softbank, is preparing to launch its IPO in the first half of August. - This IPO will be the first by an Indian EV two-wheeler maker, marking a significant milestone for India's auto sector. - The company aims to raise around $740 million through a mix of fresh issue and offer for sale. - The targeted post-money valuation is between $4-4.25 billion, providing a lucrative opportunity for investors. - This move could encourage other EV companies like Ather Energy to explore similar value unlocking strategies. Source: Moneycontrol

- Ola Electric's operating revenues surged by 93% to Rs 5,010 crore ($603 million) in FY24, while net loss increased marginally by 6% to Rs 1,478 crore ($178 million). - The company is targeting a valuation of $4.25 billion to $4.5 billion for its IPO, a significant drop from its last private-market valuation of $5.4 billion. - IPO filings reveal a reduction in the secondary component by 10%, with founder Bhavish Aggarwal cutting his share sale from 47.4 million to 37.9 million shares. - Key cost items like R&D, employee expenses, and advertising have been kept in check, with R&D expenses down by 25% and employee benefits up by just 3%. - Ola Electric sold 329,000 vehicles in FY24, achieving 115% growth and maintaining a 45-50% market share in electric two-wheeler sales. Source: The Arc

Any insight into what the price band would be?