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@samidhas

Editor @ETtech.๐Ÿ”ฅ๐Ÿ”ฅSubscribe to ETtech newsletters bit.ly/3KQZ50Z , ๐Ÿ“ง๐Ÿ“ง [email protected]

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linkhttp://samidhasharma.com/ calendar_today30-11-2008 06:37:37

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๐Ÿšจ๐ŸšจSuperK, a value retailer, said it has raised Rs 100 crore co-led by Binny Bansal, Mithun Sacheti & cricketer Shubman Gill.. ย ย  The round also saw existing investors Blume Ventures and Xeed Ventures participate. ETtech Pranav Mukul

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Digital wallet payments must flow beyond borders to ensure growth in global commerce: PayPal CEO Alex Chriss tells me in an interview. economictimes.indiatimes.com/tech/technologโ€ฆ

Digital wallet payments must flow beyond borders to ensure growth in global commerce: PayPal CEO Alex Chriss tells me in an interview.

economictimes.indiatimes.com/tech/technologโ€ฆ
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A police officer was killed and at least two other people were wounded Monday evening at a Midtown Manhattan skyscraper by a gunman who walked into the building as the workday was ending and began firing, according to law enforcement officials. nytimes.com/live/2025/07/2โ€ฆ via

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๐ŸšจBluSmart Mobility goes into insolvency... Resolution Prof appointed. NCLT Ahmedabad Bench has passed the order yesterday. Exclusive details via ETtech economictimes.indiatimes.com/tech/startups/โ€ฆ

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๐Ÿšจ BIG: Swiggy is "actively re-evaluating" its investment in Rapido. ๐Ÿ”ธ Rapido's food delivery foray presents potential conflict of interest, it says ๐Ÿ”ธ Swiggyโ€™s ~12% stake has gained value ๐Ÿ”ธ Itโ€™s working on new offerings to prevent clear opening for rivals ETtech

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โžก๏ธ Now, Swiggy is looking to monetise its 12% stake in Rapido (worth around ~$140-150m/ Rs 1,200-1,300 crore) โžก๏ธNet loss has doubled to Rs 1,197 crore in Q1 โžก๏ธGroup CEO Sriharsha Majety said competitive intensity in quick comm has remained high

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๐Ÿšจ๐ŸšจSwiggyโ€™s quarterly cash burn is at Rs 1,053 crore. If it continues to at this rate in a yearโ€™s time it will burn more than Rs 4,000 crore. Its current cash balance is Rs 5,354 crore.

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๐Ÿšจ๐ŸšจIn 2022, Swiggy led a $180M funding round in Rapido, then a bike taxi startup valued at $830 million. Back then Rapido was seriously engaged with Zomato,too, but it chose to go with Swiggy cos of the founder connect between Sriharsha Majety & Aravind Sankaโ€ฆ The