Topics
Latest
AI
Amazon
Image Credits:Anindito Mukherjee / Bloomberg / Getty Images
Apps
Biotech & Health
clime
Image Credits:Anindito Mukherjee / Bloomberg / Getty Images
Cloud Computing
Department of Commerce
Crypto
Enterprise
EVs
Fintech
Fundraising
contrivance
punt
Government & Policy
ironware
Layoffs
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
Security
Social
blank
startup
TikTok
Transportation
speculation
More from TechCrunch
result
Startup Battlefield
StrictlyVC
newssheet
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
get through Us
Indian tech and media startup VerSe , which operates popular news aggregator Dailyhunt , is deserving about 42 % below its last private rating , according to estimates by its investor 360 One .
The riches and asset manager disclosed in a June update to its investors that it prize VerSe at $ 2.9 billion , consort to an home document reviewed by TechCrunch . 360 One possess a 2 % bet in the startup .
The Bengaluru - headquartered inauguration — which counts Ontario Teachers ’ Pension Plan , CPP Investments , Goldman Sachs , Google , Sofina and Peak XV among its other backers — was valued at about $ 5 billion ina $ 805 million support roundit announce in April 2022 .
In the update , 360 One also disclosed that it hadmarked up the valuation of NSE , India ’s magnanimous exchange , to $ 29.9 billion , TechCrunch previously cover .
360 One go down to comment .
“ Ever since our last round in April 2022 , our business has raise exponentially wherein revenue has grown more than 2x and burning has reduced by more than 3x . Hence while the company has not engage in a price discovery round since then , the exponential growth of every individual fiscal system of measurement in the commercial enterprise , highlights that our rating would only have grown since 2022 , ” a VerSe spokesperson told TechCrunch .
“ dissimilar investors hail in at dissimilar point of time at differential price points and can opt to pock their time value accordingly . However the action of a very small nonage investor , in no style apply to 98 % of the investor on the cap table who has still notice the primary time value of the company at its last rotund post rating of ~ $ 5Bn . The company is very well capitalise & has not raised any capital letter since April 2022 & we would wish to unconditionally highlight that there is no change in the evaluation of the company as meditate in our filing as well . ”
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
This down valuation adjustment aligns with an ongoing orbicular trend : Investors are punctuate down the worth of their startup holdings . For instance , plus manager Fidelity hasreduced the economic value of its stakes in X , GupshupandDiscord .
Fidelity discover on Friday that it prize its belongings in X , formerly Twitter , at approximately 27.94 % of its original investing . This new rating places the Elon Musk - lead societal media caller , which he buy for $ 44 billion , at $ 12.3 billion at the end of July . likewise , Fidelity judge that SaaS startup Gupshup is now worth about $ 541 million , down from its $ 1.4 billion valuation in 2021 .
The investor update from 360 One also covered holdings in several other startup . It value food delivery behemoth Swiggy at $ 11.5 billion , up from its last secret funding round in early 2022 at $ 10.7 billion . The report assigned a $ 4 billion valuation to Pine Labs , a merchandiser payments platform . on-line kernel and seafood retailer Licious was treasure at $ 900 million , while edtech society upGrad had a rating of $ 1.9 billion ascribed to it , TechCrunchpreviously reported .
