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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.
Left high and dry bang in the middle of a pandemic, Yatra has taken Ebix to court. The allegations are ugly.
Editor's note: There were early signs that getting into bed with Robin Raina is trouble. As the story goes, early last year, Yatra Online Inc. CEO Dhruv Shringi met Raina, CEO of Ebix Inc., in an informal meeting. The two hit it off, and Raina suggested to Shringi that they work together and explore the possibility of Ebix acquiring Yatra. After a few more rounds of discussion, Shringi took Raina’s proposal to his company’s board of directors. Over the next two weeks, Shringi and Raina had a number of conversations to hammer out a structure for the transaction. In February 2019, Ebix sent a formal proposal to Yatra’s board. This proposal laid out the scenario of a merger of the two companies, wherein Yatra’s shareholders would get cash or freely tradeable Ebix stock. In the event that the transaction would be stock, Ebix also offered a put option which would allow former Yatra stockholders to sell their shares to Ebix, 25 months after the closure of the transaction, at 90% of the price at which the stock was issued. A put option …
Left high and dry bang in the middle of a pandemic, Yatra has taken Ebix to court. The allegations are ugly.
Editor's note: There were early signs that getting into bed with Robin Raina is trouble. As the story goes, early last year, Yatra Online Inc. CEO Dhruv Shringi met Raina, CEO of Ebix Inc., in an informal meeting. The two hit it off, and Raina suggested to Shringi that they work together and explore the possibility of Ebix acquiring Yatra. After a few more rounds of discussion, Shringi took Raina’s proposal to his company’s board of directors. Over the next two weeks, Shringi and Raina had a number of conversations to hammer out a structure for the transaction. In February 2019, Ebix sent a formal proposal to Yatra’s board. This proposal laid out the scenario of a merger of the two companies, wherein Yatra’s shareholders would get cash or freely tradeable Ebix stock. In the event that the transaction would be stock, Ebix also offered a put option which would allow former Yatra stockholders to sell their shares to Ebix, 25 months after the closure of the transaction, at 90% of the price at which the stock was issued. A put option …
Parent AceVector is headed for a public market debut next week. As much as 97% of its revenue comes from two businesses. One is already a listed entity, the other a missed opportunity.
After 15 years, more than $550 million in funding and over $200 million in revenue, the cloud kitchen startup must find a way to make a profit and go public. Grover is the man Rebel has chosen for the job.
In less than two years, the instant delivery startup that puts quality above all else has attracted marquee VC investors, earning a valuation of $255 million. How far the niche bet will take it is anybody’s guess.
Parent AceVector is headed for a public market debut next week. As much as 97% of its revenue comes from two businesses. One is already a listed entity, the other a missed opportunity.
After 15 years, more than $550 million in funding and over $200 million in revenue, the cloud kitchen startup must find a way to make a profit and go public. Grover is the man Rebel has chosen for the job.
In less than two years, the instant delivery startup that puts quality above all else has attracted marquee VC investors, earning a valuation of $255 million. How far the niche bet will take it is anybody’s guess.
