The CapTable Wrap: Ola’s org chart, Ofbusiness’s latest fundraise, Policybazaar’s DRHP highlights, & more
As Ola evolves into a major manufacturer of electric scooters, The CapTable, YourStory’s subscription product, dug into the company’s organization structure to map out the key people running it. Also read on Ofbusiness’s somewhat unique business model, highlights from Policybazaar’s draft IPO filing, Meesho’s new business-to-consumer strategy, and why online retailers are speeding up their deliveries.
Read on for a roundup of The CapTable articles from last week.
The mobility company underwent a major restructuring earlier this year and has made a clutch of new hires for both its electric scooter and ride-hailing businesses. It has made a clear distinction between its core mobility and new electric mobility businesses. With over 25 direct reportees and two large businesses to oversee, CEO Bhavish Aggarwal has his hands full.
At a time when digital lending startups are battling for survival, Ofbusiness has not only built a big loan book but also a profitable business on top of a marketplace focused on small businesses. After becoming a Unicorn recently, it’s already planning another fundraising at a $3 billion valuation—up nearly 7 times from the $431 million it was estimated to be worth in March.
Policybazaar owner PB Fintech is the third fintech company to file for an IPO this year, after Paytm and MobiKwik. Its preliminary IPO prospectus serves up several highlights. For one, the company is nearly profitable, not a claim several other IPO-bound companies can make. Also, its IPO-linked incentive plan for the founders will be worth $120 million at a $3.3 billion valuation.
India’s largest social ecommerce platform has started selling directly to consumers, taking on Flipkart and Amazon in certain categories. Given the success of its reseller business, investors are lining up to give Meesho the capital it needs for its business-to-consumer play. Never mind that this could undermine its core business model, which has been plateauing.
Online retail companies are in a rush, trying to squeeze their delivery timings from days to hours to minutes. Flipkart, Swiggy, Dunzo, Nykaa and 1 MG are all focused on accelerating their delivery speeds, especially in large metropolitan cities. The good news is that post lockdowns, customers are willing to pay for the convenience.