The CapTable Wrap: Nykaa, Fino and CarTrade’s IPOs, Tiger Global’s unusual turn, and Uber India’s Org Chart
Another week, another organization chart by The CapTable, YourStory’s subscription product. This one was on Uber India, which has had a lot to deal with recently—Covid curfews that hit the mobility sector hard, regulatory curbs, layoffs, and management changes, among other things. Last week, The CapTable also wrote on two exciting IPO-bound companies—Nykaa and Fino, CarTrade’s somewhat unusual public share listing, and how an Indian tech Unicorn company got the mighty Tiger Global Management to heed to its demands.
Here’s a roundup of The CapTable articles from last week.
In the current funding climate where capital is increasingly becoming a commodity and investors want a share of the hottest deals at any price, founders get to dictate the terms. And investors cave in sometimes, even if that involves having to break some of their golden rules. Like Tiger Global caved in to ShareChat’s demand for a non-compete clause.
Nykaa’s business is the antithesis of the ‘venture-backed-growth-at-any-cost’ e-retail model, as is its IPO. It is the first domestic Unicorn company founded by a woman to go for a public market listing. And while Zomato, Paytm and Policybazaar are going public as professionally run companies, Nykaa’s Falguni Nayar and family own close to 50% of the company.
Fino’s business aligns with the government’s massive direct benefits transfer program. From processing transactions to onboarding beneficiaries as account holders and extending financial services, the payments bank covers a wide gamut of services crucial to improving financial inclusion in India.
Although CarTrade’s public share listing plans coincide with a slew of other new economy IPOs, the company belongs to the old set such as IndiaMart and Just Dial that value profitability over growth. True to form, its share issue isn’t aimed at raising fresh capital but giving exits to investors
Driving Uber India [Organization Chart]
Uber CEO Dara Khosrowshahi has had a lot to deal with recently, specifically owing to the impact of Covid on the mobility sector globally. From making Uber profitable to dealing with local regulations, the list is endless. In India, as the ride-hailing company took a huge hit, the team underwent several key changes.