prosus
A group of large investors in Byju’s has called for an extraordinary general meeting (EGM) where they seek to change the leadership at Byju’s days after the edtech group launched…
Byju’s expects minimal or no fine from India’s forex rule violation allegation
Byju’s said on Wednesday that recent accusations by India’s crime-fighting agency regarding a breach of the nation’s foreign exchange rule are “solely technical” in nature and the startup anticipates that…
Prosus slashes valuation of India’s Byju’s below $3 billion
Investment giant Prosus has written down the valuation of edtech giant Byju’s to below $3 billion, marking a steep drop from the $22 billion valuation the Indian startup hit early…
Developer community site Stack Overflow has laid off 28% of its staff, the Prosus-owned company announced Monday. In a blog post, Stack Overflow’s CEO, Prashanth Chandrasekar indicated that the company…
Bob van Dijk, the chief executive of Dutch e-commerce investor Prosus and its controlling shareholder Naspers, has resigned from the top role, including the boards, with immediate effect. Ervin Tu,…
Prosus slams Byju’s after quitting board, says India’s top startup ‘regularly disregarded advice’
Prosus, one of the largest investors in Byju’s, expressed its disappointment in the edtech giant’s reporting and governance practices on Tuesday, a month after all the key investors quit the…
PharmEasy, once valued at over $5 billion, seeks new funding at a 90% valuation cut
Indian online pharmacy startup PharmEasy is planning to raise about $300 million in a new round of funding at a 90% markdown from the previous valuation, two people familiar with…
Prosus, the largest non-founder shareholder in Byju’s, has drastically slashed the worth of its stake in the edtech giant, implying a starkly diminished valuation of $5.1 billion to the Indian…
Prosus, Peak XV Partners and Chan Zuckerberg Initiative confirmed Friday that their representatives have resigned from the board of Byju’s, India’s most valuable startup that is also reeling from the departure…
Prosus in talks to sell Olx Autos business in India, other markets
Prosus is actively engaging with multiple players to explore the sale of classified business Olx’s Autos unit in several markets, including India and Indonesia, according to a source familiar with…
India blocks PayU’s LazyPay, Kissht and Indiabulls Home Loans in fresh crackdown
Fintech Kissht and PayU’s LazyPay are among the apps that India’s IT Ministry has blocked in the ongoing crackdown as New Delhi moves to curb the misuse of consumers’ data…
Prosus has scrapped the $4.7 billion acquisition of BillDesk it announced last year, once stated to be the European technology giant’s largest, saying “certain conditions” were unfulfilled in a surprising…
Just Eat Takeaway sells stake in Brazil’s iFood for up to $1.8B
European food ordering and delivery giant Just Eat Takeaway has revealed that it’s selling its stake in Brazil’s iFood for up to €1.8 billion ($1.8 billion) to Prosus. The initial deal…
Sharebite bags $39M to expand its corporate food ordering program
Sharebite, a startup that partners with restaurants to deliver food to corporate clients, today announced that it raised $39 million in a Series B round led by Prosus with participation…
PayU doubles down on LatAm fintech, acquires Ding and leads $46M investment in ‘superapp’ Treinta in Colombia
PayU, the fintech business controlled by Prosus with operations in 50+ countries — it’s been described as the PayPal of emerging markets — announced a double-deal today to expand its…
99minutos clocks in fresh capital for logistics infrastructure in Latin America
99minutos, a logistics service company for e-commerce vendors across Latin America, is making fast work out of attracting funding. It announced today $82 million in Series C funding, led by…
GoStudent raises $340M Series D funding round as it pushes into international markets
Fresh from raising a $244 million Series C (that valued the company at $1.7 billion) back in June, K12 online tutoring marketplace GoStudent has now raised a $340 million Series…
Flink, the Berlin-based instant grocery startup, is now valued at $2.85B after raising $750M in a round led by DoorDash
Instant grocery delivery continues to be a very frothy market, but today comes news of a major funding round for one player in it that investors believe will still be…
Prosus acquires Indian payments giant BillDesk for $4.7B, will merge with its PayU fintech group
More major consolidation underway in the world of payments: Prosus — the Dutch tech giant that bundles together Naspers’ fintech, e-commerce and other international investments and businesses outside of South…
Hello friends, and welcome back to Week in Review! Last week, I wrote about tech taking on Disney. This week, I’m talking about the search for a new crypto messiah.…
The legendary Q&A website for programmers (and probably one of the most copy-and-pasted sites on the internet) Stack Overflow is being acquired. The Wall Street Journal is reporting that Prosus…
Bux, a European Robinhood, raises $80M to expand its neobroker platform
A new wave of apps have democratized the concept of investing, bringing the ability to trade in stocks and currencies to a wider pool of users who can use these…
Norway’s Kolonial rebrands as Oda, bags $265M on a $900M valuation to grow its online grocery delivery business in Europe
Food delivery startups, and specifically those focused on grocery delivery, continue to reap super-sized rounds of funding in Europe, buoyed by a year of pandemic living that has led many…
Prosus classifieds group OLX shuts down Frontier Car Group’s Berlin office, OLX Autos to focus on LatAm and Asia
Cazoo is picking up significant capital today by teaming up with a SPAC in the U.S. at a $7 billion valuation, but another big used-car play is consolidating operations. TechCrunch…
Leading a $15 million round, Prosus Ventures makes the challenger bank Klar its first bet in Mexico
Klar, a new online bank based in Mexico City, has become the first big bet that Prosus Ventures (the firm formerly known as Naspers Ventures) is taking in Latin America…
Prosus Ventures leads $13 million investment in Pakistan’s ride-hailing giant Bykea
Bykea, which leads the ride-hailing market in Pakistan, has raised $13 million in a new financing round as the four-year-old startup looks to deepen its penetration in the South Asian…
OLX Group invests up to $400M in used car marketplace Frontier Car Group at $700M valuation
Frontier Car Group, the Berlin-based startup building used car marketplaces targeting high-growth, emerging markets, has picked up another significant round of funding from a strategic backer also focusing on the…
Prosus makes $6.3B hostile bid for Just Eat; Just Eat rejects deal in favor of Takeaway merger
As Amazon-backed Deliveroo expands into click-and-collect and procurement services to grow its footprint with restaurants in Europe, a food fight among three other takeout and delivery players continues apace in…
