Category

Private Markets

Aug 26
0

Daily Brief Private Markets: Softbank (9984 JP) – This Time and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Softbank (9984 JP) – This Time, It’s Chime

Softbank (9984 JP) – This Time, It’s Chime

By Victor Galliano

  • US fintech Chime, another high-profile fintech in Softbank’s Vision Fund 2 portfolio, sees its secondary market valuation in the private market fall by nearly 50% on a year-to-date basis
  • Chime had been planning to IPO in 1H 2022, with its IPO valuation estimated at close to USD40bn; poor market conditions have led to the IPO being shelved
  • Chime’s reduced valuation is another hit to Softbank’s portfolio, which has yet to feature a recent “down round”, and which we believe negatively impacts its Vision Fund 2 in particular

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Aug 23
0

Daily Brief Private Markets: The Pinkfong Company: Baby Shark Unicorn in Korea and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • The Pinkfong Company: Baby Shark Unicorn in Korea
  • Shift Up Corp – A Rising Unicorn in the Korean Game Industry
  • IGA Works – Data Tech Marketing SaaS Unicorn in Korea

The Pinkfong Company: Baby Shark Unicorn in Korea

By Douglas Kim

  • The Pinkfong Company was valued at about 1 trillion won, according to local reports in early 2022. Samsung Publishing (068290 KS) owns a 16.8% stake in The Pink Fong company.
  • For now, The Pinkfong Company does not have any near term plans for an IPO. However, it may try to complete its IPO sometime in 2023/2024.
  • The Pinkfong Company’s sales increased by nearly 500% in the US to reach 24.9 billion in 2021, accounting for 30% of the company’s total sales in 2021.

Shift Up Corp – A Rising Unicorn in the Korean Game Industry

By Douglas Kim

  • Shift Up is a game developer in Korea that recently reached the unicorn status. 
  • The company is expected to launch Goddess of Victory: Nikke mobile game and Eve console game on PS5 sometime in late 2022/early 2023. 
  • The CEO of Shift Up Kim Hyung-tae previously worked as an art director at NCsoft. Shift Up is expected to complete an IPO in 2023. 

IGA Works – Data Tech Marketing SaaS Unicorn in Korea

By Douglas Kim

  • IGA Works is an data tech, digital marketing SaaS unicorn in Korea. It is getting ready for an IPO by the end of 2022.
  • IGA Works is a data technology company that provides a complete set of platforms and services for digital transformation and data-driven marketing. 
  • Recent local media accounts have mentioned that the the corporate value of IGA Works could exceed 2 trillion won.

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Aug 05
0

Daily Brief Private Markets: PhonePe Tearsheet – India’s SuperApp Ambition and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • PhonePe Tearsheet – India’s SuperApp Ambition

PhonePe Tearsheet – India’s SuperApp Ambition

By Pranav Bhavsar

  • Phonepe Pvt Ltd (1732974D IN) runs a digital payment and technology App in India and is currently the leader in terms of UPI transactions processed. 
  • Our channel feedback suggests the possible disruption from initiatives like ONDC to be positive for payment apps like PhonePe, with the possible acceleration towards the SuperApp Journey. 
  • Revenues are always growing, and so are losses. With ONDC, there is a possibility this may change faster than anticipated and hence warrants close attention. 

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Aug 03
0

Daily Brief Private Markets: Apna Tearsheet – LinkedIn for the Masses and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Apna Tearsheet – LinkedIn for the Masses

Apna Tearsheet – LinkedIn for the Masses

By Pranav Bhavsar

  • Apna (1826169D IN) ‘s is India leading networking and jobs platform primarily targeted towards the +250 million grey and blue collared workers, who usually are not on Linkedin. 
  • Channel feedback is mixed, Apna is not the only platform of choice. Community initiatives and vernacular interface are key differentiators along with simplicity. 
  • Profitability could remain a challenge, Monetisation is work in progress. The model is interesting, but making money off the bottom of the pyramid has never been easy. 

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Aug 02
0

Daily Brief Private Markets: Groww Tearsheet – Simplifying Investments and Savings and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Groww Tearsheet – Simplifying Investments and Savings

Groww Tearsheet – Simplifying Investments and Savings

By Pranav Bhavsar

  • Groww (1573648D IN) is a wealth management and investment platform designed to simplify investing especially for first-time investors. 
  • Channel feedback indicates Groww’s simple UI, and lower cost/fees as the primary reasons for them investing via the platform. 
  • Revenues have seen a COVID-led sharp jump, and growth with low marketing expenses and operational profitability offer a compelling narrative. 

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Jul 31
0

Daily Brief Private Markets: Dealshare Tearsheet – Social Commerce For the Masses and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Dealshare Tearsheet – Social Commerce For the Masses

Dealshare Tearsheet – Social Commerce For the Masses

By Pranav Bhavsar

  • Serving the masses, Dealshare (1907039D IN) is India’s social commerce company efficiently taking on e-commerce grocery giants in India. 
  • Channel feedback is positive, the company is well positioned & focused on a specific part of the market and seems to be doing well. 
  • The efforts are translating into growing revenues, but the profitability is yet to follow.  The model is interesting and warrants close attention. 

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Jul 30
0

Daily Brief Private Markets: Dailyhunt Tearsheet – News For “Bharat” and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Dailyhunt Tearsheet – News For “Bharat”

Dailyhunt Tearsheet – News For “Bharat”

By Pranav Bhavsar

  • DailyHunt (1449267D IN) is one of India’s leading vernacular content curation and engagement platforms and also one of the most funded content startups. 
  • Channel interactions indicate a challenging competitive position that requires constant cash burn. 
  • In terms of financials, there is no sight of profitability in the near term. Unless that changes, it is best to remain cautious. 

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Jul 29
0

Daily Brief Private Markets: Mamaearth Tearsheet – Going Beyond D2C and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Mamaearth Tearsheet – Going Beyond D2C

Mamaearth Tearsheet – Going Beyond D2C

By Pranav Bhavsar

  • Mamaearth (1652951D IN)‘s in one of foremost D2C personal care brands. Initially started with baby products, the brand now offers a full range of toxin free, natural products.  
  • Channel feedback suggests good products and premium pricing, but chasing traditional retail is not easy and will test Mamaearth’s execution capabilities. 
  • COVID has boosted financials. Revenues have skyrocketed and the company has become profitable. The way forward for traditional retailing and its execution will be the key.  

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Jul 28
0

Daily Brief Private Markets: FirstCry Tearsheet – India’s Only “Surviving” Baby Products Retailer and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • FirstCry Tearsheet – India’s Only “Surviving” Baby Products Retailer
  • Pepperfry Tearsheet – Banking on Discovery
  • East Ventures-Backed Qapita Buys Indian ESOP Management Firm

FirstCry Tearsheet – India’s Only “Surviving” Baby Products Retailer

By Pranav Bhavsar

  • FirstCry (0172540D IN) is one of the leading and only surviving Omni channel retailer that specialises in baby products. 
  • Channel feedback is positive, the strategy of opening company-owned and operated stores, and segregating online and offline operations is working well.  
  • Increasing revenues, profitable operations and limited competition make FirstCry a compelling narrative that should be on the watchlist. 

Pepperfry Tearsheet – Banking on Discovery

By Pranav Bhavsar

  • Pepperfry (0096696D IN) is one of the largest furniture and home decor marketplaces in India. Recently also started offering appliances to serve as a one-stop home shop. 
  • Our channels indicate higher AOVs and different customers compared to Swedish giant IKEA. Marketplaces like Pepperfry solve the problem of discovery for customers looking for furniture in a new location. 
  • The WFH tailwind is fading away. With revenues declining, profitability is distant, and with the financial position that is yet to improve caution is warranted.  

East Ventures-Backed Qapita Buys Indian ESOP Management Firm

By Tech in Asia

  • Qapita, a Singapore-based equity management startup, has acquired India-based ESOP Direct in a full cash transaction.
  • The financial details of the deal, however, were not disclosed.
  • ESOP Direct’s brand and leadership team will be retained after the acquisition, Ravi Ravulaparthi, CEO and co-founder of Qapita, told Tech in Asia.

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Jul 27
0

Daily Brief Private Markets: Cars24 Tearsheet – Leading Used Car Marketplace and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Cars24 Tearsheet – Leading Used Car Marketplace

Cars24 Tearsheet – Leading Used Car Marketplace

By Pranav Bhavsar

  • Cars24 (1716847D IN) is one of India’s leading used auto (primarily car) marketplace.  The company claims a 90% share in the online used car market. 
  • Channel feedback suggests no customer loyalty and a poor competitive position compared to local unorganised sales yards. 
  • Losses narrowing due to reduction in expenses, declining revenues and recent high profile exits all point to caution. 

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