Find out if you are being paid fairly.Download Grapevine
SillyBiscuit
Stealth7mo
It's (API Holdings) getting funded at 90% de-value. Their parent company is pulled down in terms of profitability only because of its B2C arm i.e PharmEasy which is doing better than ever before (although has much lesser set of orders fulfilled - gotten rid of bad discount hungry customers).
The diagnostics arm is also a profitable one, given the margins in diag are crazy high.
PharmEasy has gotten rid of folks who were overpaid (which is continued in startups in general).
B2B folks know to make dhandha here. Hopefully works out for B2C soon.
- an ex-employee
DancingDonut
Stealth7mo
They own 70% of a 400m listed public company. Also, they own 50% of a Pharmacy software companies. Both of these are profitable.
Hence, there's some value to Pharmeasy parent. Although I think Pharmeasy brand should have negative valie since it is and has always been a cash burner.
Why did they need to raise so much? So that they dont default on their debt payments. It was essentially a distressed fundraise with almost every existing investor getting wiped out.
SillyMochi
Stealth7mo
How is culture with Kinara Capital? Somehow it's not in anyone's talk so far
SquishyBanana
Freelancer7mo
🧢
Discover more
Curated from across
Indian Startups17mo
90% downround Pharmeasy
Horrific scenes in the Indian startup ecosystem. From being on the verge of an IPO to raising an emergency round which shall lead to the sudden death of employee ESOPs. Crores of wealth destroyed for the employees.
A chain reaction of h...
PharmEasy's Valuation Plummets to $458 Million
- API Holdings, PharmEasy's parent company, now valued at $458 million, a 92% drop from its 2021 peak.
- Janus Henderson, a key investor, slashed its valuation by 91.8%, as per SEC filings.
- In April, PharmEasy faced a 90% valuation cut...
