"EDITION 11"

Published: 6/5/2020

“EDITION 11”

Happy Monday everyone, Hope y’all had a nice and relaxing weekend (or a fun & active one, you do you). I also had a great weekend and announced bhej.app so if any of y’all wanna run WhatsApp Newsletters as well, def hit me up. Also, Idk if y’all heard but #KiranaTech is still 🔥🔥🔥. BharatPe raised more money from some interesting investors on the back of their growth, and Bytedance is expanding in India.

  • https://tcrn.ch/3c437Bp (TechCrunch): First up, we have BharatPe announcing a $75M fundraise (which values the fast-growing #KiranaTech company at $400M) from the likes of Coatue & Ribbit Capital (both very well renowned funds in the Fintech space). Coatue has been a bit of an investment spree globally with participating in recent rounds of Ramp, Swiggy and Grab in the last week (I’ve been hearing that they’re doing a bunch more fintech deals in the US in the coming future). The capital is going to largely go into growing the merchant base of BharatPe along with expanding their lending business. I’m a little surprised that they haven’t raised any debt capital yet to fund their lending business but that is probably already in the works.
  • http://bit.ly/2wGTTuB (Inc42) In other news we have ByteDance and TikTok announcing that they will be expanding into a couple different sectors in India- namely eCommerce, Music (& even a Slack competitor). With Resso, that launched a couple of months ago, they have already entered the music space competing with both local players (Gaana, JioSaavn) & global ones (Spotify & Apple Music). They have interestingly also built a Slack competitor called Lark (larksuite.com) and have been expanding a sales org in India to push that tool. And if they enter the eCommerce space with video commerce, like the Douyin (Chinese TikTok) platform has, they could pose a real threat to the likes of BulBul & SimSim because the quality of content on the platform is significantly better, and the influencers on the platform have a higher reach. It seems like the first Indian superapp might not be an Indian company with ByteDance & Facebook (with WhatsApp) being in prime positions to accomplish that.
  • Feedback & ❤️ always appreciated

    More tomorrow :) BONUS (Tweet of the day): https://twitter.com/manas_saloi/status/1231489753360420865