A reading of the Bhavish Aggarwal-led company’s draft prospectus tells us that the bar for startups to list on the public markets has hit the floor. As a regulator, SEBI cannot afford to look the other way.
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Last valued at upwards of $2 billion, the beauty and home services business gearing up for an IPO is too small and too susceptible to market challenges. Its draft papers are worth a look.
With his back to the wall, the founder is exploring options that could benefit him much more than others. Even at the expense of the customers, investors, vendors and employees.
The decade-old company is reportedly planning to venture into food delivery and fintech. Its no-commission model might just come in handy for its expansion plans.