Mohandas Pai’s four-decade journey; Edtech unicorn LEAD doubles revenue
The travel tech company, which was listed on NASDAQ in 2016, is going ahead with a public offering in India with a price band of Rs 135-142 per equity share. It will open for subscription on September 15 and close on September 20.
Hello,
Yatra is all set for its dual listing.
The travel tech company, which was listed on NASDAQ in 2016, is going ahead with a public offering in India with a price band of Rs 135-142 per equity share. It will open for subscription on September 15 and close on September 20.
Meanwhile, million shareholders across India. Addressing shareholders at its 23rd AGM, Sharma highlighted Paytm’s achievement of turning adjusted EBITDA positive in the December quarter, nine months before its initial guidance.
Founder and CEO Vijay Shekhar Sharma said the company has over aICYMI: YourStory’s flagship startup-tech event is just 8 days away. Join us as we dive into what’s shaping the Great Indian Techade to the ideas powering the country’s innovation ecosystem.
Last but not least, check out Coober Pedy, an opal mining town in Australia, where people live underground.
The reason? Rising temperatures around the globe.
In today’s newsletter, we will talk about
- Mohandas Pai’s four-decade journey
- Edtech unicorn LEAD doubles revenue
- Razorpay acquires Mumbai startup BillMe
Here’s your trivia for today: Which ingredient in dark chocolate can help prevent/slow down tooth decay?
Interview
Mohandas Pai’s four-decade journey
![Mohandas Pai](https://images.yourstory.com/cs/2/a0bad530ce5d11e9a3fb4360e4b9139b/ImageTaggingSuman34-1694536673108.png?fm=png&auto=format&w=800)
IT industry veteran TV Mohandas Pai had a humble upbringing. Then, he worked his way up the corporate ladder, joining Infosys as a consultant, followed by a finance role, and eventually becoming a board member at the IT giant. In his second avatar as an investor, Pai became the co-founder of Aarin Capital and Exfinity Venture Partners.
Today, you may know him for his fiery debates on television channels and social media platforms, but Pai has been a “rebel” from his childhood days. In fact, it was his relentless pursuit of seeking answers and calling out unjust practices that led him towards the corporate world.
The man:
- Under Pai’s leadership, Infosys produced multiple annual reports that were lauded by retail and institutional shareholders for their simplicity and transparency.
- After a long and meaningful tenure of 17 years, Pai quit the company in 2011 to pursue philanthropic and entrepreneurial interests.
- He is not satisfied with mediocrity. He wants to walk the extra mile to achieve excellence. For now, he has multiple tasks at hand, supporting startups, mentoring entrepreneurs, and helping the government frame better policies.
Edtech
Edtech unicorn LEAD doubles revenue
![Sumeet Mehta and Smita Deorah - LEAD](https://images.yourstory.com/cs/2/d99b1110116911ed9e63f54395117598/ImageFramesIshan4-1673013549274.jpg?fm=png&auto=format&w=800)
Westbridge-backed edtech unicorn
narrowed its losses and more than doubled its operating revenue in FY23, driven by robust business growth and a reduction in cash burn.The Mumbai-based company reported a loss of Rs 321.9 crore, marking a fall of 18.5% from the Rs 395.3 crore loss recorded in the previous fiscal.
Numbers game:
- LEAD’s operating revenue saw a 106.4% surge, touching Rs 273.2 crore in FY23, from Rs 132.4 crore in FY22, as per its recent financial statements.
- The startup’s total income stood at Rs 295.5 crore in the financial year ended this March—up from Rs 142.9 crore in the previous fiscal.
- The pureplay B2B edtech firm said it has reduced its cash burn by 60-70% in FY23 versus the previous fiscal.
Fintech
Razorpay acquires Mumbai startup BillMe
![RazorPay](https://images.yourstory.com/cs/2/6c7d986093a511ec98ee9fbd8fa414a8/CopyofImageTaggingnoframesEditorialTeamMaster25-1664286747695.jpg?fm=png&auto=format&w=800)
Fintech unicorn
has acquired , a Mumbai-based digital invoicing and customer engagement startup, to enhance its offline payments product suite.The integration with BillMe’s technology will allow Razorpay’s device users/offline merchants to generate digital invoices, replacing paper bills.
M&A deals:
- The Tiger Global-backed payment and banking solution provider marked its entry into offline payments last year July, with the acquisition of PoS (Point of Sale) device maker Ezetap for $200 million.
- Razorpay now offers three variables in devices—Android Smart PoS, Android Smart Mini PoS, and a mobile device.
- BillMe, founded by Jai Hemrajani, Kuber Pritmani, and Rupam Jain, has provided its technology to more than 4,000 businesses, managing over 15,000 retail PoS for firms like McDonald’s, Burger King, Decathlon, Baggit, Relaxo Footwear, and Cinepolis, among others.
News & updates
- New launch: TikTok has officially rolled out its ecommerce business in the United States after months of testing as ByteDance looks to capitalise on the app’s popularity. TikTok is hoping to replicate the success of Asian platforms Shein and PDD Holdings' Temu.
- AI assistant: Dutch investor Prosus NV has developed an AI chatbot for its portfolio as tech businesses increasingly turn to the emerging technology to streamline operations. Called PlusOne, it works as a “personal assistant” for staff at more than 25 of its investments.
- Money matters: TSMC has approved an investment in Arm of up to $100 million when it goes public. In its prospectus, SoftBank-owned Arm said that several technology companies were interested in purchasing up to $735 million worth of shares in its IPO.
Which ingredient in dark chocolate can help prevent/slow down tooth decay?
Answer: A flavonoid compound called epicatechin.
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