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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The proptech startup was recently sold at a 95% valuation cut. A flawed business strategy following the pandemic, lax HR management and indifference towards customers are to blame.
The NestAway idea has gone up in smoke.
Last week, Aurum PropTech announced its acquisition of the Bengaluru-based online rental startup. Valued at $227 million (about Rs 1,800 crore) in a funding round in 2019, the eight-year-old company was sold for a measly $10.9 million (Rs 90 crore).
What led to the 95% valuation cut?
The writing on the wall was hard to miss. In the financial year 2021-22, NestAway posted a revenue of Rs 58 crore, a 36% drop from the previous year. Its losses also kept rising, jumping from Rs 66 crore to Rs 95 crore.
However, NestAway …
The managing partner at Key Capital talks about his new—and the region’s first-ever—secondaries fund and why long investment cycles are not everyone’s cup of tea.
The Mideast tech giant is scaling back verticals in Saudi Arabia and possibly rethinking global operations.
The founders of the Turkish company have filed a suit against the Abu Dhabi sovereign fund, proptech Stake has raised new millions and there is a new financial giant in town.
