Meesho’s On Roll, Delhivery’s ESOPs, Cashfree Payments Testing Waters

Meesho is on a roll, slashing its FY24 net loss by 82% to INR 305 Cr, while Ola Electric also narrows its Q2 loss by 5.5% year-on-year. Delhivery's rewarding its team with over 11 lakh equity shares, and Cashfree Payments is testing new waters with cross-border payments.

Meanwhile, a major shake-up at 100X.VC as Shashank Randev steps down, and Swiggy faces a court order blocking its ESOP moves for a terminated executive. The food delivery giants are also under CCI scrutiny for breaching competition laws, adding to their drama as Swiggy’s IPO, oversubscribed 3.59X, makes waves.

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

“Kar Chale Hum Vida”: 100X.VC Cofounder & Partner Shashank Randev Quits

Shashank Randev, cofounder and partner of 100X.VC, is moving on, leaving the startup ecosystem curious about his next steps.

Over his tenure, he helped channel $20 million into 180 Indian startups, backing more than 400 founders with big ideas. With 100X.VC investments spanning brands like abCoffee and Kerala Banana Chips, his legacy is one of solid support for India’s emerging innovators.

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“Yeh Andha Kanoon Nahi Hai”: B’luru Court Bars Swiggy From Alienating ESOPs Of Terminated Executive

A Bengaluru court just spiced things up for Swiggy’s IPO by blocking the foodtech giant from alienating stock options of a terminated exec. Arun Cyril, Swiggy's former AVP, challenged his dismissal and the cancellation of his ESOPs, claiming it was "unlawful."

With Swiggy’s IPO oversubscribed 3.59X, this courtroom drama adds a twist to its debut on the public market.

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“Meesho Ka Jadoo”: Meesho’s FY24 Net Loss Declines 82% To INR 305 Cr

Meesho's FY24 is a tale of cost-cutting magic—an 82% reduction in net loss down to INR 305 Cr, thanks to smarter spending and skyrocketing revenue.

With operating revenue up by a whopping 32.8% to INR 7,614.9 Cr, Meesho balanced out total expenses, which grew only by a modest 7.8%. Excluding ESOP costs, Meesho slashed its adjusted net loss by 96.6%, showing that even in tough markets, they've found the sweet spot of profitability on the horizon.

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“Kaddu Katega, Sab Mein Batega”: Delhivery Allots Over 11 Lakh Equity Shares Under ESOPs

Delhivery just delivered a major reward package to its team, allotting over 11 lakh equity shares through ESOPs.

With 1,121,541 stock options up for grabs, employees can now own a bigger slice of the logistics giant. Each option is convertible to one equity share with a face value of INR 1, making this a win-win for the people powering Delhivery’s growth.

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“Waah, Kya Scene Hai”: Cashfree Payments Pilots Cross Border Payments

Cashfree Payments is making waves by piloting cross-border payments, letting overseas customers pay Indian businesses with ease.

By teaming up with big Indian companies, this initiative brings UPI and RuPay to the global stage, opening doors for payments beyond borders. It’s a bold step toward making Indian payment systems truly global, connecting more customers with just a tap.

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“Haan Yahi Sapna Hai Tera”: Ola Electric Q2 Loss Narrows 5.5% YoY To INR 495 Cr

Ola Electric is charging ahead, narrowing its Q2 losses by 5.5% year-on-year to INR 495 Cr while turbocharging its revenue by 39%.

With earnings zooming up to INR 1,214 Cr, it’s clear Ola Electric is powering through financial bumps on the road. It’s a promising signal for the EV market as Ola continues to rev up growth despite challenges.

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“Yahan Ke Hum Sikandar”: Swiggy IPO Led By QIBs, Public Issue Subscribed 3.59X

Swiggy’s IPO cooked up a storm, with the public issue being oversubscribed 3.59X, led by a huge appetite from QIBs.

Institutional investors bid for 6 times the shares allocated to them, showing strong confidence in the foodtech giant. Retail investors and employees didn’t miss out either, with their quotas oversubscribed as Swiggy’s debut sizzles on the market stage.

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“Nyay Ke Rakhwale”: Swiggy, Zomato Breached Competition Laws, Finds CCI Probe

Swiggy and Zomato are in hot water as a CCI probe finds they may have bent the rules of fair play by favoring select restaurant partners.

By signing exclusivity deals for lower commissions, these food giants allegedly kept competition on a tight leash. With CCI's findings stirring up the market, the food delivery duopoly could be in for a shake-up to level the playing field.

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1. UnifyApps just scored $20 Mn in Series A funding, led by ICONIQ Growth, to supercharge its AI solutions for enterprises! With backing from Elevation Capital and more, the software integration startup is set to expand its reach and capabilities.

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2. Zoomcar has raised $9.15 Mn from institutional investors, issuing 2.13 Mn units at $4.28 each. With $3.8 Mn used to settle debts, the self-drive rental platform, founded in 2013, is geared up to keep steering forward in the car-sharing market.

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