CCI Nudges Supreme Court, ONDC’s New Plans, Britannica Dives Into Indian Edtech

Unicommerce bids farewell to its Company Secretary as Ajinkya Jain steps down, while CCI nudges the Supreme Court to streamline Amazon and Flipkart seller cases. ONDC plans to levy a modest INR 1.5 per transaction from January, and Paytm cashes in $279 Mn by selling its stake in PayPay.

Meanwhile, BookMyShow celebrates a 27% profit surge, Britannica dives into Indian edtech, and fintech unicorn OneCard dazzles with 2.6X revenue growth in FY24.

Grab your simmering cup of StartupChai.in and unwind with our hand-brewed memes.

“Hafta Time Par Dene Ka”: ONDC To Levy Fee Of INR 1.5 From Next Month

Starting January 1, ONDC will charge INR 1.5 per transaction over INR 250, marking a new chapter in its cost-recovery strategy.

This move follows CEO T. Koshy’s earlier hint about introducing transaction fees to cover operational expenses. The government-backed digital commerce network is now stepping up to balance sustainability with its ambitious growth plans.

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“Kis Line Mein Aagaye Aap”: Encyclopedia Publisher Britannica Forays Into Indian Edtech Space

Encyclopedia giant Britannica is stepping into India’s buzzing edtech space with 12 digital learning tools tailored for teachers, students, and schools.

The offerings, including Britannica School and Britannica Library, come as subscription-based solutions. With its legacy of trusted knowledge, Britannica is set to make a scholarly splash in the digital classroom.

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“Achha, Chalta Hoon”: Unicommerce’s Company Secretary & KMP Ajinkya Jain Quits

Unicommerce’s Company Secretary & KMP, Ajinkya Jain, has bid adieu, with his resignation taking immediate effect.

Known for his stints at PharmEasy and Games24x7, Jain’s departure comes as the SaaS company enjoys a 21% YoY profit hike in Q2 FY25, hitting INR 4.47 Cr. With operating revenue also climbing 13% to INR 29.30 Cr, Unicommerce is now on the hunt for his replacement.

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“Maamla Legal Hai”: CCI Urges SC To Consolidate Cases Of Amazon, Flipkart Sellers

The CCI has knocked on the Supreme Court’s door, seeking to consolidate cases by 20 Amazon and Flipkart sellers scattered across six high courts.

Arguing that fragmented proceedings stall its investigation and give violators a free pass, the regulator wants to streamline the process. With non-confidential investigation reports already shared, CCI is urging for objections to be addressed directly for swifter justice.

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“Apna Apna Dekh Lo”: Paytm’s Singapore Subsidiary Sells Stake In PayPay For $279 Mn

Paytm’s Singapore arm is cashing in big, selling its stake in PayPay to SoftBank for a cool $279 Mn (INR 2,364 Cr). The deal, closing this month, pegs PayPay’s valuation at a hefty $7.06 Bn.

This marks Paytm’s second stake sale of the year, adding more fuel to its strategic shifts.

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“Mauja Hi Mauja”: BookMyShow Profit Jumps 27% To INR 109 Cr In FY24

BookMyShow reported a 27.61% rise in net profit, reaching INR 108.6 Cr in FY24 compared to INR 85.1 Cr the previous year.

The platform also saw its operating revenue climb 43.19% to INR 1,396.8 Cr, driven by robust growth. These numbers reflect a steady post-pandemic recovery, signaling resilience in the online ticketing market.

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“Waah Kya Scene Hai”: OneCard’s FY24 Revenue Surges 2.6X To INR 1,425 Cr

Fintech unicorn OneCard saw its FY24 operating revenue skyrocket 163%, reaching INR 1,425.58 Cr from INR 541.16 Cr last year.

Backed by Peak XV Partners, the company has demonstrated stellar growth in the competitive fintech landscape. OneCard’s surge reflects its rising dominance in the digital credit card ecosystem.

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Healthtech startup Orange Health secured $12 Mn (INR 101.5 Cr) in funding, with Amazon Smbhav Venture Fund leading the round. Existing backers like Accel, General Catalyst, and Y Combinator also joined the investment spree.

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