Roundup of news and ideas from the world of startups – Week ending 11th Nov 2018
News you can use
How to convince potential hires to take your startup’s stock options – For many people, getting an offer from a startup creates mixed emotions. Often, the role would sound perfect during the interview process, only to find that the offer package is far from expectations. The cash compensation is likely lower than competing offers, and instead, candidates are told that equity is the path to future riches.
Startup India’s latest Unicorn – online tutoring startup Byju’s – Indians value education and are willing to invest in educating their kids.Tuition and coaching centers have mushroomed across the country. This drive to invest in education has lead unique opportunities for digital startups like Byju’s. The online tutoring startup Byju’s expected to close an additional round of funding, valuing the company at about $3.5 billion. At this valuation, Byju’s will be ranked as India’s fourth most valuable startup (behind Paytm, ride sharing service Ola and Oyo Rooms. Byju’s started in 2008, and since then it has raised $240 million from Tencent Holdings, Verlinvest, Chan Zuckerberg Initiative, Sequoia Capital, Lightspeed Venutre Partners and Aarin Capital.
Corporate M&A
TravelgateX acquires the start-up REVVA – TravelgateX, a global marketplace for the travel trade, has acquired the start-up REVVA in order to strengthen its position in the business intelligence sector. TravelgateX, which already handles one of the largest data of global connections in the B2B tourism industry, states that having on hand so much information about the market and customers will make it possible for companies to work methodically. Meanwhile, Mallorca-based start-up REVVA specialises in revenue management and business intelligence for the tourism sector. As of 1 November, REVVA’s advanced BI platform will become part of the new TravelgateX product catalogue, thus initiating the first connective ecosystem of the tourism industry.
Kraft Heinz Acquires Food AI Startup Wellio – Karft Heinz recently announced that it has acquired food tech startup wellio, which will help jumpstart the company’s digital hub. Wellio is trying to build an intelligent human-centered and data-empowered platform that adapts to each home chef’s goals and needs enabling better nutrition choices and encouraging cooking at home.
Failed Startups
Indian B2B marketplace Wydr shuts down – Mobile-based B2B marketplace Wydr has shut down its operations. The Bessemer Venture Partners and Stellaris VC-backed company has also suspended its website. Wydr was a marketplace for wholesale buying and selling across categories including electronics, fashion and automotive. According to its linkedin profile, Wydr had about 44 employees