🚨 US-based WeWork Inc is selling its 27% stake in its India joint venture after filing for bankruptcy

WeWork India valuation - about $500 million

WeWork US market cap - $6.4 million (post-bankruptcy filing)

As The Arc first reported last year

🚨🚨Bankrupt #WeWork is selling its 27% stake in India biz for about $85-90 mn

The valuation for Wework India is pegged at $480-540 mn for this transaction.

The deal structure is interesting: thearcweb.com/article/embass…

🚨 🚨 A senior executive is leaving Peak XV (formerly Sequoia India), marking the first major leadership exit for Peak XV since the Silicon Valley firm spun off its global operations in China and India last year.

Piyush Gupta, the Managing Director responsible for strategic

🚨 More trouble at Good Glamm

Investors of Sirona - a company acquired in 2021 - have sent a legal notice over the partial payment due for their shares 🧑‍⚖️

Good Glamm is renegotiating the terms with them

And also for its other buyouts like Mom's Co

thearcweb.com/article/good-g…

🚨 Top-level rejig at Good Glamm Group

Sukhleen Aneja, former Reckitt and Unilever exec who joined in 2021, has quit as CEO of the core brands business

More CXO exits as well, Aditi Shrivastava has the details 👇

thearcweb.com/article/good-g…

🚨🚨 Exclusive: Wearable device maker Boat's revenue fell 20% in the December quarter

As a result, profitability took a hit.

thearcweb.com/article/aman-g…

#SharkTankIndia #boatlifestyle

🚨 🚨 All is not well at Good Glamm.

Multiple high-profile CXO departures have occurred amid tough restructuring.

Meanwhile, partial payouts are due to the founders of acquired businesses.

thearcweb.com/article/good-g…

🚨 Zepto discussed selling a majority stake to Flipkart 🤝

But the talks fell through on valuation expectations

thearcweb.com/article/zepto-…

🚨 Boat is having a rough time

Revenues fell by 20% to Rs 436 crore in the October-December quarter during the crucial festive season sale

This comes as the company - co-founded by Shark Tank judge Aman Gupta - also saw a massive customer data breach

thearcweb.com/article/aman-g…

🚨🚨 Exclusive: Wearable device maker Boat's revenue fell 20% in the December quarter

As a result, profitability took a hit.

thearcweb.com/article/aman-g…

#SharkTankIndia #boatlifestyle

🚨🚨 #Dailyhunt has bought Kalaari-backed Magzter to build a subscription play

Founded in 2011, #Magzter is an aggregator primarily focused on premium magazines & newspapers

thearcweb.com/article/dailyh…

🚨 BharatPe promotes interim CEO Nalin Negi to the full time role

Earlier at SBI Cards and GE Capital, Negi joined BharatPe in 2022 as CFO

ShareChat's new round has been co-led by Tencent, Lightspeed and Temasek

The round also comes with strings, like senior liquidation preference, for those investing in the round

thearcweb.com/article/sharec…

🚨🚨 ShareChat which also owns Moj has raised $49 million in a convertible debt round from existing investors.

Sources tell The Arc that investors participating in the round will receive 'senior liquidation preference' rights

thearcweb.com/article/sharec…

#sharechat #funding

🚨 Byju's vs Investors

Co says it got 55% votes in favour of the rights issue from an independent scrutinizer

Now it is waiting for the NCLT hearing on April 23.

'These delays were a result of irrational hostility from four foreign shareholders'