An Indian tribunal court initiated insolvency proceedings for Byju’s, once India’s most valuable startup, on Tuesday in response to a petition from the country’s powerful cricket board. The Tuesday ruling installs an interim resolution professional to manage the company’s operations, pushing the once-billionaire founder out in a dramatic turn for a firm that was valued […]
India’s Oyo, once valued at $10B, finalizes new funding at $2.5B valuation
Oyo, the Indian budget-hotel chain startup, is finalizing a fresh fundraise of about $ 100 million to $ 125 million that slashes its valuation to $ 2.5 billion, two people familiar with the matter told TechCrunch. That’s a steep decline in the Gurgaon-headquartered startup’s value, which was worth $ 10 billion in 2019. The startup, […]
Oyo, once valued at $10 billion, shelves IPO plans for second time
Oyo, the once high-flying Indian budget hotel chain, has withdrawn its IPO application from the Securities and Exchange Board of India (SEBI) for the second time in a fresh blow to its already diminished ambitions. The Gurugram-headquartered startup, which at its peak commanded a valuation of $ 10 billion, pulled the plug on its IPO […]
SeekOut, a recruiting startup last valued at $1.2 billion, lays off 30% of its workforce
SeekOut, an 8-year-old recruiting startup that uses AI to find candidates, has cut about 30% of its workforce on Thursday, TechCrunch has learned. “Lately, we have been spending roughly $ 2 to earn $ 1, and this last fiscal year, we incurred significant cash burn,” SeekOut’s CEO Anoop Gupta and CTO Aravind Bala wrote in […]
Wiz is in talks to buy Lacework for $150-200M; security firm was last valued at $8.3B
Consolidation continues apace in the world of security. Sources tell us that Lacework — a cloud security startup that was valued at $ 8.3 billion post-money in its last funding round — is in talks to be acquired by another security player, Wiz, for a price of just $ 150–$ 200 million. Sources close to […]