BharatPe raises Rs.90crore;Top Y Combinator companies;End of Hike’s messenger;“Nothing” by OnePlus co-founder Carl Pei; BuyUcoin hacked;....continue
Week 3,2021
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#1
BharatPe raises Rs 90 crore from Alteria Capital under Debt funding
BharatPe is Co-founded by Ashneer Grover and Shashvat Nakrani in 2018.
BharatPe serves over 5 million merchants in more than 65 cities. The company processes more than 60 million UPI transactions on an average a month (with an annualised transaction value of over $7 billion).
BharatPe plans to raise $150-200 million in equity funding and around $500 million of debt, in the biggest fund-raise for the payments and alternative lending startup.
The company last raised nearly $75 million in February 2020 as part of a Series C round.
BharatPe has raised $142.5 million (Rs 1,042 crore at current exchange rate) till date.
#2
Top Y Combinator companies by valuation and top exits as of January 2021.
The combined valuation is more than $300B, with 125+ companies valued at $150million+ ,creating 60k+ jobs in different parts of the world.
Airbnb, Doordash, Stripe, Cruise ,Instacart are the top five Y Combinator companies.
Meesho, Razorpay, OkCredit, ClearTax, Groww, Cashfree are the indian entries in the list.
See the complete list - here
Read more
#3
Made in India, HIKE has given up on messaging!
The startup is founded by Kavin Bharti Mittal , who is the son of telecom giant Airtel’s chairman Sunil Bharti Mittal.
It was the India’s answer to WhatsApp, completely betting on stickers and emojis to cater to the younger population in India.
The end of Hike’s messenger service comes at a time when Signal and Telegram have added tens of millions of users in recent weeks.
The company, which counts Softbank, Tencent, Foxconn and Tiger Global as investors, valued at $1.4 billion in 2016, shifting focus to two new social products—Rush and Vibe.
#4
“Nothing” by OnePlus co-founder Carl Pei
Carl Pei, OnePlus co-founder, has launched his much-awaited new consumer tech company and it’s called ‘Nothing’.
The company has already launched $7 million in a seed funding round, where Kunal Shah of CRED also participated.
Fundings were received from prominent names such as Tony Fadell (former CEO of Nest, inventor of iPod), Kevin Lin (co-founder of Twitch), Steve Huffman (co-founder and CEO of Reddit), Josh Buckley (CEO of Product Hunt), and Casey Neistat (YouTuber).
“Nothing’s mission is to remove barriers between people and technology to create a seamless digital future,” he said in a press release.
“I kind of envision a grass field with people having a picnic and there’s no screen, there’s no laptop screen, there’s no phone screen, there’s no smartwatch screen, there’s no billboard screen, “That’s kind of the end state.”, Pei told.
#5
Cryptocurrency startup BuyUcoin hacked.
In an attack on Indian cryptocurrency exchange BuyUCoin, hacker group ShinyHunters leaked the private information of over 325,000 users.
The data leaked include names, e-mails, mobile numbers, encrypted passwords, user wallet details, order details, bank details, KYC details (PAN number, passport numbers) and deposit history.
According to independent cyber security researcher Rajshekhar Rajaharia, the 6GB file on MongoDB database contains three backup files containing BuyUcoin data.According to Rajaharia, the hacker is the same who earlier leaked BigBasket and JusPay data in India.
ShinyHunters has also leaked 1.9 million user records stolen from free online photo editing application Pixlr.
#6
Netflix subscribers growth hits 200million.
The company added 37 million new subscribers in 2020, including 8.5 million in the last quarter.Netflix ended the year with nearly 204 million worldwide subscribers.
It also generated a blockbuster $6.664 billion in quarterly revenue, up from $5.45 billion a year earlier.
2020 was a significant year for streaming, with the launches of new streaming services like NBCUniversal's Peacock, Discovery+ and HBO Max from CNN's parent company, WarnerMedia. Not to mention, the huge leap Disney+ made by notching more than 80 million subscribers.
Certain shows like “Queen’s Gambit”, “Lupin”, “Bridgerton” , “Money Heist” pushed the subscribers count by a large chunk.
#7
TCS, the world's largest IT company, beats Accenture
The Tata Group-owned IT giant Tata Consultancy Services’ market valuation on BSE soared beyond $170 billion on Monday.
The stock dipped nearly 0.45% by afternoon trade, bringing down its valuation to $167 billion.
In the process, it also became India’s most valuable company, overtaking Reliance Industries Ltd. (RIL) after 11 months.
TCS delivered better-than-expected Q3 results — its net profit rose 7.3% year-on-year to Rs 8,701 crore in a traditionally weak quarter.
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