Month: August 2023

Redseer: India will likely have 40 IPO-ready startups by FY25

In contrast to FY21, nearly twice the number of Indian unicorns are on their way to profitability in FY23. (Representative Image: Mika Baumeister via Unsplash)

Indian startups have been focusing on profitability, weathering through macroeconomic headwinds and a funding winter. The result of which the partner at Redseer, Rohan Agarwal says will be a sizable pipeline of IPO-ready companies in the next 5 years.

WPP enters into a global strategic partnership with Spotify

WPP will work with Spotify to deliver market-leading thought leadership and scaled training programmes for its employees and clients that focus on digital audio creativity and Spotify's innovative ad products. (Representative Image: Ashkan Forouzani via Unsplash)

As part of the partnership, Spotify will become the first digital audio platform to be integrated directly into WPP’s products and solutions.

Rajya Sabha passes the Press and Registration of Periodicals Bill, 2023

As per TAM numbers for the first half of the year, the top sectors dominating the print advertising landscape in the first half of 2023 came from diverse interests. The education sector claimed the lead with a substantial 19 percent share, emphasising its commitment to reaching a wide audience. Following closely, services and auto industries secured the second and third positions with 16 percent and 11 percent stakes, respectively.(Representational image via Unsplash)

New Bill introduces registration for periodicals, empowers press registrar general and sets penalties for non-compliance.

Explained: What are the GST Council’s tax recommendations for online gaming?

In the letter, Chandra alleged that hasty steps are being taken in the merger process and the SEBI investigations do not bother him as much as the timing of the new notice. (Image via Twitter)

The 51st GST Council meeting on August 2 approved 28% GST on online gaming on full face value, clearing doubts and confusion surrounding the matter.

Zomato Q1 Results: Food aggregator posts first ever profit at Rs 2 cr as delivery margin jumps

The altered announcement triggered hungry passengers offering a tempting 60 percent discount to those who noticed the culinary twist. (Image source: Moneycontrol)

Zomato Q1 Results: The company had been guiding for profitability before but they have done it a quarter before the specified timeline. CFO Akshant Goyal expects its business to remain profitable going forward. “We believe we will continue to deliver 40 percent+ YoY topline (Adjusted Revenue) growth for at least the next couple of years.”

Founder Falguni Nayar takes charge amidst resignations and intensified competition at Nykaa

Falguni Nayar also spoke about D2C brands and the evolving consumer behavior, stating that “D2C brands have the advantage of being quick-to-market and agile to adapt to changing trends – all while solving real consumer problems." Of the new D2C brands over the last few years - 44 percent have emerged in fashion & beauty. (Representative Image via Moneycontrol)

In recent years, Nykaa has adeptly protected itself from larger e-commerce players like Flipkart and Amazon. However, the landscape is shifting as the beauty and personal care industry becomes a high-stakes battleground, currently estimated at $17-18 billion.

Dabur Q1 results: Net profit up 5.3 percent to Rs 464 cr

The FMCG major reported a net profit of Rs 514 crore for the October to December period. (Image source: Moneycontrol)

Dabur’s international business reported a 20.6 percent growth in constant currency terms. The Turkey business reported a 51.2 percent growth, while the Egypt business grew by 45.7 percent, Sub-Saharan Africa by 13 percent and MENA by 10.2 percent.

Deepika Padukone joins Dyson as hair care technologies brand ambassador

Deepika Padukone on her association said, "I’ve always believed that a hairstyle can make or break a look. I truly believe that this association will inspire people to achieve superior hair styles while also caring for the health of their hair.”

By roping in Deepika Padukone, the brand Dyson aims to increase awareness around the importance of maintaining hair health, while continuing to drive relevance for Dyson’s technologically advanced styling tools.

GST Council clears the way for taxing offshore gaming companies; experts divided on its impact

For quite some time now, companies like 1XBet, DafaBet, Fairplay, Parimatch, and Betway have been ramping up their advertising efforts in India, coinciding with the action-packed events like Indian Premier League cricket season, World Cup and others. In fact, they have been using the GST chaos for moment marketing purposes as well. Platforms like Fairplay have been using influencers to promote features such as '24X7 winning withdrawal, no GST, and referral code bonuses’.

The council recommended inserting a specific provision in the IGST Act, 2017, to provide for liability to pay GST on the supply of online money gaming by a supplier located outside India.