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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
A series of diverse acquisitions and culture change are at the heart of the Sequoia-backed fintech firm’s efforts to turn profitable.
Editor's note: When Sequoia Capital India’s managing director Shailendra Singh offered Citrus Pay co-founder and close friend Amrish Rau the position of chief executive at Pine Labs three years ago, his ask was straightforward: take control of operations, bring in new investors and prepare for an initial public offering that would help the venture capital giant cash out of the Noida-based fintech firm. When Rau joined Pine Labs in March 2020, Sequoia owned nearly 42.5% of the 25-year-old company and was already an investor for 10 years. The VC firm has since offloaded over 20% of its holding for proceeds north of $350 million in a series of secondary sales, according to three industry executives aware of the matter, who asked not to be named. During this period, Pine Labs raised funds in three major rounds, with marquee investors Lone Pine Capital, Alpha Wave Global and Sofina, among others, joining its cap table. Its valuation jumped from under $1 billion in 2020 to $5 billion in January 2022, when it concluded its last publicly announced round. At the time, Sequoia’s stake in …
A series of diverse acquisitions and culture change are at the heart of the Sequoia-backed fintech firm’s efforts to turn profitable.
Editor's note: When Sequoia Capital India’s managing director Shailendra Singh offered Citrus Pay co-founder and close friend Amrish Rau the position of chief executive at Pine Labs three years ago, his ask was straightforward: take control of operations, bring in new investors and prepare for an initial public offering that would help the venture capital giant cash out of the Noida-based fintech firm. When Rau joined Pine Labs in March 2020, Sequoia owned nearly 42.5% of the 25-year-old company and was already an investor for 10 years. The VC firm has since offloaded over 20% of its holding for proceeds north of $350 million in a series of secondary sales, according to three industry executives aware of the matter, who asked not to be named. During this period, Pine Labs raised funds in three major rounds, with marquee investors Lone Pine Capital, Alpha Wave Global and Sofina, among others, joining its cap table. Its valuation jumped from under $1 billion in 2020 to $5 billion in January 2022, when it concluded its last publicly announced round. At the time, Sequoia’s stake in …
The quick-commerce startup weighs a valuation cut or finding alternative funding to stay afloat as investor appetite for loss-making businesses weakens.
The Bengaluru-based contract manufacturer lands in legal hot water with the California-headquartered transformer startup over a trade secret dispute.
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
The quick-commerce startup weighs a valuation cut or finding alternative funding to stay afloat as investor appetite for loss-making businesses weakens.
The Bengaluru-based contract manufacturer lands in legal hot water with the California-headquartered transformer startup over a trade secret dispute.
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
