A notable marker of business growth is the sale of commercial vehicles—trucks, vans, mini-trucks, three-wheelers, etc.—for logistics and passenger transport. More than 67,000 vehicles were sold last month, a year-on-year increase of 24%.
It seems like everyone wants to buy an iPhone. Indian Apple Authorized Resellers and third-party vendors would have received strong demand for the recently announced Apple iPhone series, starting at Rs 79,900.
Meanwhile, Brahmāstra: Part One – Shiva seems to have ended Bollywood’s drought at the cash registers. After a stellar opening day, the film grossed over Rs 77 crore in India over two days, reaching Rs 160 crore worldwide.
See you at the cinema!
In today’s newsletter we will talk about
- Deciphering the drop in the private secondary market
- Inside the Rise of Gameberry Labs
- Create scalable content with AI
Here is your quiz for today: what is the symbol “#” called?
Deciphering the drop in the private secondary market
After last year’s high funding, India’s growth-stage startups and tech unicorns are experiencing market corrections, trading at a 20-50% discount in private secondary markets. While boAt saw a 35% drop, API Holdings (the parent company of Pharmaasy) saw a 75% drop in the over-the-counter (OTC) secondary market for private companies.
“The valuation of tech companies has declined since the Paytm IPO. This, followed by declining liquidity and attrition, has impacted the secondaries of deemed public companies,” Ranjit said. Jha, Managing Director-CEO of Rurash Financials. Your story.
The big picture:
- According to Qapita, nearly $70 billion in transactions took place in the private market in India in FY22, of which almost a third came from secondary transactions.
- Qapita CEO Skanda Jayaraman said that since demand has fallen sharply while oversupply remains, the “fair price” of an asset is not easy to establish.
- GP-led secondaries are also on the rise as funds seek liquidity.
Some startup unicorns are trading at above-average discounts in the OTC secondary market
Inside the Rise of Gameberry Labs
In five years, Gameberry Labs not only achieved profitability with annual revenue exceeding $40 million, but also made major inroads into international markets such as Saudi Arabia, the United States, Spain and the Latin America region.
Its two flagship mobile games – Ludo Star and Parchisi – have earned the startup around 100,000 daily active users in India.
- About 70% of Gameberry Labs revenue comes from in-app purchases and the rest from advertisements.
- The startup has 110 employees and the average revenue per employee is $400,000.
- It saw a 10-15% increase in time spent on mobile video games even after the lockdown was lifted.
Create scalable content with AI
Many online businesses rely on advertisements as their primary source of revenue. However, it can be difficult to tailor these ads to every campaign, especially to large audiences.
Scalenut attempts to automate processes such as search engine optimization (SEO) through artificial intelligence (AI). The SaaS platform helps small and medium businesses scale their content and grow sustainably through organic marketing.
- Scalenut uses natural processing technology to facilitate research and provides content reports from a single targeted keyword.
- Its flagship product, Talent Network, helps connect customers to certified content creators to generate content.
- The startup has integrated with US SaaS company Semrush to leverage its SEO and global content marketing.
- Repression: The Ministry of Corporate Affairs had ordered an investigation by the Serious Fraud Investigation Office (SFIO) into 33 companies with Chinese links in India, which arrested the alleged mastermind behind the installation of bogus directors in these companies.
- Restructuring: A report by Kotak Institutional Equities suggested that Reliance Industries Ltd explore reorganizing the company into three independent entities for different business areas: oil refining and petrochemicals, oil-chemicals (O2C) unit and digital business.
- Breakthrough: Scientists at the Netherlands Cancer Institute have discovered a new therapy to treat advanced melanoma (skin cancer) by modifying a patient’s own immune cells to fight the cancer.
What you should pay attention to
- Amazon Business will commemorate five years of operations in India with Small Business Week, starting today.
- Prime Minister Narendra Modi will inaugurate the World Milk Summit, which is being held in India after a 48-year hiatus.
What is the “#” symbol called?
Answer: Although commonly referred to as a hashtag, the “#” symbol is technically known as the “octothrope”, which takes its name from the symbol’s eight dots.
We would like to hear from you! To let us know what you liked and disliked about our newsletter, please email [email protected].
If you do not already receive this newsletter in your inbox, register here. For previous editions of YourStory Buzz, you can consult our Daily capsule page here.