Manish Singh, Author at TechCrunch

Indian startups gut valuations ahead of IPO push

Manish Singh — Thu, 01 Aug 2024 12:36:14 +0000

Ola Electric and FirstCry are set to test investor appetite with public listing, both pricing their shares below their previous valuation asks.

Tiger Global partner Alex Cook to leave firm, sources say

Manish Singh — Wed, 31 Jul 2024 03:50:48 +0000

Alex Cook, a partner at Tiger Global who oversaw some of its largest fintech investments and India deals, is departing the firm after a tenure of nearly seven years, three people familiar with the matter told TechCrunch. Cook has briefed multiple people around him about his departure news in recent days, although he hasn’t explained […]

India’s Rapido becomes a unicorn with fresh $120M funding

Manish Singh — Mon, 29 Jul 2024 14:21:47 +0000

Bike-taxi startup Rapido, which counts Swiggy among its investors, is the latest Indian firm to become a unicorn.

WazirX to ‘socialize’ $230M security breach loss among customers

Manish Singh — Sat, 27 Jul 2024 17:03:51 +0000

Indian cryptocurrency exchange WazirX announced on Saturday a controversial plan to “socialize” the $230 million loss from its recent security breach among all its customers, a move that has sent shock waves through the local crypto community. The Mumbai-based firm, which suspended all trading activities on its platform last week following the cyberattack that compromised […]

Apple cuts iPhone price in India amid China slowdown

Manish Singh — Fri, 26 Jul 2024 10:58:21 +0000

Apple has reduced prices of its iPhone models in India by 3-4% following a cut in import duties in the South Asian market.

CRED launches personal finance manager for India’s affluent

Manish Singh — Thu, 25 Jul 2024 00:31:00 +0000

CRED, an Indian fintech startup, has rolled out a new feature that will help its customers manage and gain deeper insights into their cash flow, as the startup seeks to drive engagement through personal finance tools. Known primarily for its credit card bill payment and consumer lending service, the new feature of the Bengaluru-based startup […]

India scraps ‘angel tax’ in boost for startups

Manish Singh — Tue, 23 Jul 2024 07:16:22 +0000

India’s federal government has removed the so-called angel tax for all classes of investors, delivering a major victory to the country’s startup ecosystem that had lobbied for years against the measure. “To bolster the India startup ecosystem, to boost entrepreneurial spirit and support innovation, I propose abolishing angel tax for all classes of investors,” Finance […]

WazirX halts trading after $230 million ‘force majeure’ loss

Manish Singh — Sun, 21 Jul 2024 16:14:48 +0000

WazirX, one of India’s largest cryptocurrency exchanges, has “temporarily” suspended all trading activities on its platform days after losing about $230 million, nearly half of its reserves, in a security breach. The Mumbai-based exchange said in a tweet Sunday evening that the cyberattack had substantially impaired its ability to maintain the critical 1:1 collateral ratio […]

Faulty CrowdStrike update causes major global IT outage, taking out banks, airlines and businesses globally

Manish Singh — Sat, 20 Jul 2024 00:01:02 +0000

Security giant CrowdStrike said the outage was not caused by a cyberattack, as businesses anticipate widespread disruption.

Paytm loss widens and revenue shrinks as it grapples with regulatory clampdown

Manish Singh — Fri, 19 Jul 2024 06:21:31 +0000

Indian fintech Paytm’s struggles won’t seem to end. The company on Friday reported that its revenue declined by 36% and its loss more than doubled in the first quarter as it continues to grapple with a regulatory clampdown that has significantly curtailed business at its payments bank subsidiary. Once the poster child of India’s startup […]

WazirX halts withdrawals after losing $230 million, nearly half its reserves

Manish Singh — Thu, 18 Jul 2024 17:38:00 +0000

The Mumbai-based firm said one of its multisig wallets had suffered a security breach, and it was temporarily pausing all withdrawals from the platform.

InMobi eyes $10 billion valuation in 2025 India IPO

Manish Singh — Wed, 17 Jul 2024 19:41:11 +0000

Adtech startup InMobi is eyeing a valuation of about $10 billion in an initial public offering it is planning for next year.

Byju’s, once valued at $22 billion, faces insolvency proceedings

Manish Singh — Tue, 16 Jul 2024 10:25:09 +0000

An Indian court has initiated insolvency proceedings against edtech giant Byju's, once-valued at $22 billion.

Google backs Indian open source Uber rival

Manish Singh — Tue, 16 Jul 2024 05:32:00 +0000

Google has become one of the latest investors in Moving Tech, the parent firm of Indian open source ridesharing app Namma Yatri that is quickly capturing market share from Uber and Ola with its no-commission model. Bengaluru-based Moving Tech has raised $11 million in a pre-Series A funding round co-led by Blume Ventures and Antler, […]

Reliance may list Jio at $112B valuation next year, Jefferies says

Manish Singh — Thu, 11 Jul 2024 05:19:33 +0000

Reliance Industries, India’s most valuable company, may consider spinning off its telecom arm Jio for a public listing as early as 2025, Jefferies said in a research note, with investors favoring this route over an initial public offering. The move follows Jio’s recent focus on monetization and market share gains, signaled by its leading role […]

Apple warns iPhone users in 98 countries of spyware attacks

Manish Singh — Thu, 11 Jul 2024 03:14:47 +0000

Apple has issued a new round of threat notifications to iPhone users across 98 countries, warning them of potential mercenary spyware attacks. It’s the second such alert campaign from the company this year, following a similar notification sent to users in 92 nations in April. Since 2021, Apple has been regularly sending these notifications, reaching […]

Indian game firms want to distance themselves from fantasy sports

Manish Singh — Tue, 09 Jul 2024 03:32:36 +0000

For over a decade, real-money gaming companies and fantasy sports startups have marketed themselves as video game companies. But as these businesses face increasing regulatory scrutiny, a coalition of more than 70 video game companies in India is urging the government to create a clear distinction between their industries. In a letter to Prime Minister […]

Investors chase wealth tech startups in India as affluent class grows

Manish Singh — Mon, 08 Jul 2024 01:32:00 +0000

The high-net-worth and ultra-high-net-worth segments are booming in India, prompting some wealth management firms to aggressively expand their relationship manager networks to capture this market.

India’s Airtel dismisses data breach reports amid customer concerns

Manish Singh, Jagmeet Singh — Fri, 05 Jul 2024 08:25:11 +0000

Airtel, India’s second-largest telecom operator, on Friday denied any breach of its systems following reports of an alleged security lapse that has caused concern among its customers. The telecom group, which also sells productivity and security solutions to businesses, said it had conducted a “thorough investigation” and found that there has been no breach whatsoever […]

CoinDCX acquires BitOasis in international expansion push

Manish Singh — Wed, 03 Jul 2024 10:31:35 +0000

CoinDCX, India’s leading cryptocurrency exchange, is expanding internationally through the acquisition of BitOasis, a digital asset platform in the Middle East and North Africa, the companies said Wednesday. The Bengaluru-based startup said BitOasis’s team is joining CoinDCX, with the original leadership continuing to manage the exchange, which offers trading in more than 60 tokens. BitOasis […]