Paytm’s ESOP Plans, Ola Ditches Google Maps, Delhi HC’s Crackdown and more

Paytm boosts ESOP options, Ola shifts devs to Ola Maps, Pepperfry delays IPO for growth focus, Delhi HC crackdown on fake accounts, Koo cofounder's new tech venture, Atul Gupta's new VC firm for consumer healthcare, and Adda247's latest acquisition spree.

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What Matters

“Nayi Strategy Ki Baari”: Paytm Expands ESOP Pool With Additional 2.8 Lakh Stock Options

Paytm is boosting its Employee Stock Option Pool by adding 2.8 lakh new stock options. Of these, 2,78,858 shares are part of the 2019 ESOP scheme, while 2,536 are from the 2008 scheme.

Based on the stock's latest opening price, these options are worth over INR 12.2 Cr, following a previous allocation of 87,373 options in May.

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“Aaaja Meri Gaadi Mein Baith Jaa”: Ola’s Bhavish Aggarwal Asks Developers To Exit Google Maps, Offers Free Access To Ola Maps

Ola’s Bhavish Aggarwal is encouraging developers to ditch Google Maps and switch to Ola Maps by offering one year of free access on the AI-driven Krutrim platform. He also announced over INR 100 Cr in free credits for developers.

In a recent X post, Aggarwal said, “After #ExitAzure, it’s time for developers to #ExitGoogleMaps! 1 YEAR FREE access to all developers to Ola Maps on @Krutrim, more than ₹100 Cr in free credits!”

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“Ab Aayega Maza”: Pepperfry Shelves IPO Plans, To Focus On Growth, Profitability

Pepperfry has decided to shelve its IPO plans and focus on growth and profitability instead. The company, which became a public entity in May 2022, is aiming for a 10-15% revenue increase this fiscal year.

This boost is expected to come from rising property sales and higher consumer spending on furniture and home decor.

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“Maamla Legal Hai”: Delhi HC Orders Facebook, WhatsApp To Suspend Accounts Falsely Using Razorpay’s Trademarks

The Delhi HC has ordered Facebook, WhatsApp, and Telegram to suspend accounts falsely using Razorpay’s trademarks and conducting fraud.

This comes after Razorpay sued unknown individuals misrepresenting themselves as company recruiters, offering part-time jobs for extra income against deposits and other false promises. This move aims to curb the misuse of Razorpay's name and protect potential victims from being scammed.

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“Ye Dukh Khatam Kahe Nahi Hota”: Koo Cofounder Mayank Bidawatka Hints At Floating Consumer Tech Venture

Koo cofounder Mayank Bidawatka hints at launching a new consumer tech venture, an idea he’s been passionate about for years. Though details are scarce, Bidawatka mentions a seven-member team working on this project, which he believes has a huge market potential.

This announcement follows the recent shutdown of his previous startup Koo, after acquisition talks fell through.

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“Hum Bhi Hai Josh Mein”: Former Premji Invest Partner Atul Gupta Rolls Out VC Firm To Back Consumer, Healthcare Startups

Former Premji Invest partner Atul Gupta has launched a VC firm targeting consumer and healthcare startups, among other sectors. The new firm will focus on growth-stage equity investments in consumer, financial services, enterprise software and technology, industrial and manufacturing, and healthcare.

Gupta's move adds him to the growing list of fund managers and partners leaving established VC firms to start their own ventures.

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“Abhi Toh Aur Badhega”: WestBridge-backed Adda247 acquires CA-prep firm

WestBridge-backed Adda247 has acquired a CA-prep firm, continuing its strategy of growth through acquisitions. This marks the fourth acquisition for the Delhi NCR-headquartered edtech startup, which is also backed by Google, Info Edge, Konark Group, and Asha Impact.

The move underscores Adda247's commitment to expanding its offerings and solidifying its position in the edtech space.

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1. Care.fi has secured $2.6 Mn in debt funding from Trifecta Capital and UC Inclusive Credit to expand its healthcare-focused fintech offerings. The Gurugram-based B2B company plans to use the funds for business growth and talent acquisition.

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2. Nykaa anticipates robust revenue growth of 22-23% YoY for Q1 FY25, driven by its strong performance in the beauty vertical. Additionally, the ecommerce startup expects its Gross Merchandise Value (GMV) to increase in the mid-twenties percentage range.

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3. Former Defence Secretary Ajay Kumar has launched Mounttech Growth Fund, a Rs 250-crore venture fund approved by Sebi, aimed at supporting early-stage startups in defence, aerospace, and deep tech sectors.

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4. Flipkart-backed online trucking platform BlackBuck has filed a draft red herring prospectus (DRHP) with SEBI for its ₹550 crore IPO, which includes an offer for sale (OFS) of 21.6 million shares by existing shareholders.

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