Paris Saint Germain's Qatari president Nasser Al-Khelaifi said there were no excuses for not going through to the quarters as he came to terms with the team's earliest exit from the Champions League since the club was taken over by the Qatar Investment Authority in 2011.
The latest round of funding values the company at $10.7 billion, almost doubling it from the $5.5 billion valuation during the $1.25 billion fund raise in July 2021 when investors including SoftBank, Prosus and Accel pumped in capital in what was the company's biggest funding since its inception. The other new investors in the latest round of funding include Baron Capital Group, Sumeru Venture, IIFL AMC Late Stage Tech Fund, Kotak, Axis Growth Avenues AIF- I, Sixteenth Street Capital, Ghisallo, Smile Group and Segantii Capital, Swiggy said in a statement.
With investors asking for a change in the board structure at Byju's, the edtech giant's founder and chief executive officer (CEO), Byju Raveendran, is now asking them to put $300 million into the company for more control. The company has rung up $5.8 billion from investors such as General Atlantic, Sofina, the Qatar Investment Authority, Sumeru Ventures, Vitruvian Partners, BlackRock, Chan Zuckerberg Initiative, Sequoia, Silver Lake, Bond Capital, Tencent, and Tiger Global.
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
Before resigning as an auditor of an Adani Group firm, Deloitte had sought an independent external examination of allegations made by a US short-seller but the company said the allegations had no effect on financial statements and the reasons cited for quitting were not convincing to warrant such a move. In a 163-page filing with stock exchanges relating to Deloitte Haskins & Sells LLP's resignation, Adani Ports and Special Economic Zone (APSEZ) said that in meetings with its leadership, Deloitte indicated concern over a lack of a wider audit role as auditors of other listed Adani companies. However, the firm conveyed to the auditor that it was not within its remit to recommend such appointments as other entities are "completely independent".
The funding marks the first investment in the Indian food delivery category by SoftBank Vision Fund 2, with participation from the company's long-term investor, Prosus, and other existing investors Accel Partners and Wellington Management, Swiggy said in a statement. In addition, new investors Qatar Investment Authority, Falcon Edge Capital, Amansa Capital, Goldman Sachs, Think Investments and Carmignac participated in the round, it stated. This latest fundraise was heavily oversubscribed following strong interest from investors, and comes on the back of Swiggy's rapid recovery from the impacts of COVID-19 and subsequent growth in 2020-21, Swiggy said.
The identity of the new investor could not be ascertained.
'Which fund manager in the world will put money into a company that hasn't filed its annual account?'
Walmart-owned Flipkart will undertake a buyback employee stock options worth about Rs 600 crore, according to sources Earlier in the day, Flipkart announced raising $3.6 billion (about Rs 26,805.6 crore) in funding from a clutch of investors that valued the e-commerce major at $37.6 billion (about Rs 2.79 lakh crore). In an e-mail to employees, Flipkart group chief executive officer Kalyan Krishnamurthy lauded the critical role played by the staff in reaching this milestone.
Three senior executives have resigned from Byju's at a time when the most valuable edtech company has been trying to address challenges such as due diligence issues, legal battles with lenders, challenges in raising fresh capital, and a markdown in its valuation by investors. Prathyusha Agarwal, the chief business officer of Byju's, has quit, according to sources. They said Himanshu Bajaj, business head of Byju's tuition centres, and Mukut Deepak, business head for Class 4 to 10, have also moved on.
Edtech major Byju's on Thursday introduced a new 'two-teacher' feature for its after-school online tutoring programme - Byju's Classes, a move aimed at delivering better learning experiences and outcomes. The two-teacher advantage offering - which will be available as a separate offering at about Rs 2,500 per month - will see students being taught by one expert teacher who uses strong visuals and storytelling to explain topics in-depth to ensure conceptual clarity. The second teacher will solve instant doubts, paying individual attention and making the sessions interactive and engaging.
The cost of luring buyers and sellers to its platform means the new funds won't last long.
A vilification campaign against Rosneft has begun in right earnest, says M K Bhadrakumar.
Having grown swiftly since the acquisition of Flipkart by Walmart in 2018, it was looking at a valuation of $10 billion. However, factors such as lack of diversification, new e-commerce and data policies, as well as the overall investment environment, have slowed the process.
The move is a show of faith from three of the world's biggest technology companies in fast-growing Snapdeal
The stock-and-cash deal is the biggest in the education space.
CPPIB is looking to partner with RMZ because the latter is aggressive on both new developments and acquisitions.
This is the latest in a series of large office space buyouts by RMZ Corp which has created a portfolio of rent-yielding commercial assets in India.
$47.6 bn capital invested across 921 deals in India in 2020, despite pandemic.
Draft prospectus to be filed next week; second trust, with Panchshil, in a few months
Manchester United said on Tuesday it was commencing a process to explore strategic alternatives, including a new investment or a potential sale, 17 years after the American Glazer family bought the English Premier League soccer club.
Amber Dubey explains why India needs to stop blocking competition if it ever wants to become the top aviation market.
The Dominica high court has stayed the removal of Choksi from its soil and put a gag order on the developments till the matter is heard in an open court on June 2.
He said that Government of Dominica and law enforcement agencies, unless the court rules otherwise, can deport him to India because he is an Indian citizen, Antigua News Room reported.
Welcome to the era of too many investors chasing a limited number of commercial real estate deals.
Abramovich handed Chelsea director control of firm on day of Ukraine invasion - filings
India's Right-wing has sought to own our democracy by making itself appear the stuff of majority, and sometimes, a national ethos older than the Constitution on which our democracy is based, argues Shyam G Menon.
Hundreds of pilots are staring at a long wait to get the job of their dreams after completing the course, the cost of which runs to Rs 1 crore.
'Cyrus was always very different. He would think before acting.'
Modi on Saturday embarked on a five-nation visit to Afghanistan, Qatar, Switzerland, the US and Mexico focus of which will be to enhance India's engagement in areas of trade, energy and security, besides pushing for its membership of the Nuclear Suppliers Group.
Modi is likely to seek support of Switzerland and Mexico for India's membership of the 48-member Nuclear Suppliers Group as both these countries are key members of the elite group. The issue is likely to figure during Modi's meeting with Obama in Washington.
British architecture firm Zaha Hadid Architects bagged the contract from Navi Mumbai International Airport Limited after a 12-week design competition, and will design the new airport's Terminal 1 and air traffic control tower.
Champions League holders Real Madrid will face former European champions Liverpool, FC Basel and debutants Ludogorets of Bulgaria following the group stage draw on Thursday.
Prime Minister Modi chatted with the workers, enquiring about the place and their welfare and jobs.
Secretary of State John Kerry arrived in New Delhi onto participate in the fourth round of Indo-US strategic dialogue even as US announced to invest $100 million in India's burgeoning clean energy sector.
The overriding objective of the National Investment and Infrastructure Fund (NIIF) must be adequate economic return, not financial return.
The Pakistani Supreme Court ordered for a joint investigation team to probe the allegations of money laundering against his family.
Cooperation in key areas of defence, security and counter-terrorism will be an important aspect of Prime Minister Narendra Modi's discussions during his visit to three West Asian countries -- Palestine, the United Arab Emirates and Oman -- starting Friday.
FIFA president Sepp Blatter and its secretary general Jerome Valcke have both hired high-powered US lawyers to represent them as a corruption probe roils soccer's global governing body.
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