The CapTable Wrap: Flipkart’s Org Chart, Zomato IPO update, morning delivery wars, Visa, & Stripe
Another IPO-bound company, Zomato, is planning to increase its capital-raise even as it makes an investment in grocery delivery startup Grofers. Speaking about grocery, Tata Group and Reliance are entering the race with an eye on early morning deliveries.
Presenting last week’s roundup from The CapTable.
As Flipkart strides toward its next big milestone—the largest tech IPO from India—it’s important to understand how the company has evolved under Walmart’s ownership and CEO Kalyan Krishnamurthy’s leadership. Turns out Flipkart has been able to keep its core team stable, unlike the earlier management churn that saw the exits of cofounders Sachin Bansal and Binny Bansal.
Zomato is considering an increase in its capital-raise after receiving great response from institutional investors for its roadshows. Its investment in Grofers, too, is a strong signal to investors that growth
will be its priority, and its IPO will define investor appetite for other high-growth tech Unicorns that plan to list in India.
The early morning milk and grocery delivery segment seemed to have fizzled out and consolidated even before it could scale up. But with Tata Group, Reliance and Swiggy now dominating a category that had a growth spurt during the pandemic, Amazon India and Flipkart may have missed milking an opportunity.
[Crisp and incisive analysis on the developments that matter]
Visa and other payments multinationals are looking to snap up fintech startups, particularly those providing software linkages between banks and other platforms, as demand increases for digital banking services. But India doesn’t have an entity at the scale of Tink as regulators and think tanks prefer such solutions to be designed as a public good and owned collectively.
One of the world’s most valuable startups, Stripe, has been struggling to scale up its business in India since it began operations here four years ago. Now, the San Francisco-headquartered company is evaluating a little-known domestic fintech startup called Recko as it looks to strike its first venture investment in the country.