India overtook China to add the most number of new unicorns--start-ups valued at $1 billion or more--in the first half of 2022 despite a funding winter haunting entrepreneurs in the south Asian nation. India added 14 new unicorns in the period (H1 2022) and China had 11, according to the Hurun Global Unicorn Index 2022. The US led the ranking by adding 138 start-ups in the unicorn club.
The industry came under scrutiny after the proliferation of games like cards, casinos, and fantasy sports among young people led to addiction and financial losses, with some reported cases of suicide.
Gaming platforms will also be required to display a warning after a certain time of usage to reduce the risk of addiction.
When a Future Group official was contacted, he refused comment but industry insiders confirmed that the pull-out was on the cards because of the financial health of the company.
Chinese mobile manufacturer Vivo will return to sponsor the IPL this season after its attempts to transfer the rights to another company failed to materialise as offers were not upto its "expectations".
Kolkata Knight Riders player Sunil Narina was reported for bowling with a Suspected 'Illegal Bowling Action' during his side's Indian Premier League match against Kings XI Punjab.
'The Official RCB Anthem is here! And it's dedicated to the best fans in the world.'
After a record-breaking debut, young pacer Prasidh Krishna said his first day at work felt like a 'roller coaster ride'.
Even as the gaming industry battles multiple regulations in different Indian states, it has received more than double the amount of investment this year compared to 2020. Industry watchers attribute this to the growing popularity of gaming, spurred by the pandemic, and the innovative business models gaming firms have built. According to data from industry tracker Venture Intelligence, investment in India's gaming sector in 2021 has more than doubled to $794 million, as against a total investment of $339 million last year. In 2019, this number was $176 million. Marquee investors such as Tiger Global (Dream11), Sequoia Capital India (Mobile Premier League), WinZO (Griffin Capital Partners), Tencent (Dream11) and Matrix Partners (Zupee) have pumped money into the sector.
Foreign brokerage firm CLSA initiated coverage on the stock with a Sell rating and target price of Rs 1,095, citing hefty premium valuation.
US hedge fund Tiger Global and Japanese investment giant SoftBank have trimmed their investments in Indian start-ups by over a third - from $3.8 billion in the second half of 2021 to a mere $1.08 billion in H1 2022, according to data from Venture Intelligence. While SoftBank's investments in India dropped from $1.9 billion in H2 2021 by more than a fifth to only $0.33 billion in H1 2022, that of Tiger Global fell from $1.92 to $0.74 billion in the same period. Private equity (PE) fund trackers point out that this year most of the deals that Tiger Global has invested in are in the early stage (up to series D), and only a few are in the series E and above.
Investments by private equity and venture capital funds in November stood at $6.8 billion across 102 deals, which is double by value when compared with the pandemic-impacted year-ago period but half of the bets in the preceding month of October, as per a report. In November 2020, such high-risk investors had infused $3.9 billion, while in October, the total investments had stood at $13.1 billion, the monthly data shared by industry lobby IVCA and the consultancy EY said. The overall investments in the first 11 months of the year have touched $72.6 billion, which is 53 per cent higher than the all-time high for a year achieved in 2020, it said.
'At such a young age, he has already played some of the most incredible knock so in the coming 8-10 years, I feel he'll be more mature.'
A BCCI official confirmed that Unacademy has picked up the bid papers but refrained from making any comments beyond that.
The 27-year-old leg-spinner has played 14 domestic T20 matches for his state, and has 16 wickets to his name with an economy rate of 6.87.
Three marquee exits accounted for nearly 60 per cent of the total exit value -- BillDesk's acquisition by PayU for $4.7 billion, Paytm's $2.5 billion initial public offering (IPO), and Zomato's public market debut of $1.3 billion.
The BCCI on Friday said it will review IPL's sponsorship deals, including the one with Chinese mobile manufacturing company Vivo, in a meeting next week after 20 Indian soldiers were killed during a clash with Chinese troops in eastern Ladakh. The meeting of the IPL Governing Council will review the yearly Rs 440 crore title sponsorship deal with Vivo among others.
Betting as a function of pure luck is banned in the country, but games of skill with monetary stakes are not.
'India has over 300 million online sports fans, of which over 60 million use fantasy sports as their primary tool for engagement with their favourite sport.'
New Zealand captain Sophie Devine smashed the fastest hundred in women's Twenty20 cricket on Thursday, reaching the milestone in just 36 balls in the domestic Super Smash competition.
SunRisers Hyderabad all-rounder Mitchell Marsh has been ruled out of the remainder of IPL 2020 with an ankle injury he sustained during his team's opening match against Royal Challengers Bangalore on Monday.
CSK skipper MS Dhoni announced his return to cricket by recording 100 wins for his franchise on Saturday.
'There is pent-up demand for cricket after last year when no tournaments were played on Indian soil due to the pandemic.'
Capitals Chairman Parth Jindal said the BCCI should look at compensating the franchises.
When asked if he could go back in history and choose to win the WC semis in either 2016 or 2019, Jadeja instantly picked the latter.
He is the face of the e-sports platform Dream11, the fantasy league platform, online bus ticketing platform RedBus, web hosting company, GoDaddy as well as traditional big-ticket brands such as Colgate.
Of the amount, the home-grown private equity player founded by Renuka Ramnath plans to deploy $8 billion in various companies as part of its blueprint for growth.
Prithvi Raj Yarra had played for Kolkata Knight Riders last year.
It could reach more than 530 million viewers on TV and a few hundred million more online. But can it make money for Disney Star?
Urvi Malvania looks at what is in store for the IPL's 2019 edition.
The scribes currently registered with the BCCI will continue to receive press releases and regular updates before and after every match.
'The #OrangeArmy has always been on our side through good times and bad and your support gave us the strength to fight!'
One of India's largest business conglomerates, the Tata Group, is all set to replace Chinese mobile manufacturer Vivo as the Indian Premier League's title sponsor from this year.
BCCI treasurer Arun Dhumal echoed Ganguly's sentiment and hoped that the world's biggest T20 event will return to its full glory next year.
Paytm will not be available for download now but there will be no impact on existing users of the app. 'The app was blocked for violation of play policies - a clarification of our policy was released earlier today ahead of the IPL (Indian Premier League) tournament,' Google said in an e-mailed response on Friday.
Add to it, associate sponsor companies like Unacademy, Dream11, CRed, Upstox, and Tata Motors, who pay in the range of Rs 120 crore each. Some subsidiary sponsors are also there.
Small and big advertisers are making their presence felt this year far more than they did earlier, bringing a smile to the faces of the tournament's organisers and partners.
Industry insiders believe that the 32-year-old's earnings will see a quantum jump of Rs 75 crore per annum.
According to experts, this will have major impact on new investments by Chinese players in companies, such as Paytm, Ola, BigBasket, Byju's, Dream11, MakeMyTrip, and Swiggy, when they go for follow-up funding. Chinese investors, such as Alibaba, Tencent, and Xiaomi, are active in the Indian start-up space, and have collectively invested billions of dollars.
IPL 2020 was the first sports tournament to surpass 400 billion viewing minutes.
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