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British Indian twins with high IQs join Mensa club for brainiacs
British Indian twins, Krish and Keira, have gained entry into Mensa after achieving exceptional scores on IQ tests. Krish scored 162, placing him in the top 0.26%, while Keira scored 152, putting her in the top 2%.
House of cards: Roll-up ecommerce model stumbles as founders reclaim brands amid funding struggles
Overvalued acquisitions, financial mismanagement, and unmet promises have led to founders buying back brands at a fraction of the original price, raising doubts about the sustainability of the roll-up model. This has triggered a wave of legal disputes and financial restructuring in the industry.
Roll-up brands firm Goat Brand Labs raises $21 million in a mix of debt and equity
BlackRock, Mayfield, and NB Ventures, among others, chipped in, while some existing investors like Flipkart’s venture arm stayed away. Founder Rishi Vasudev notes profitable scale-up. Mensa Brands and GlobalBees refocus strategies. National roll-up space faces challenges; Lifelong India divested by Thrasio. Trase re-acquired by cofounders from Upscalio.
Ecommerce roll-up companies pause brand buyouts, seek funds for survival
Smaller startups in the ecommerce roll-up space like 10club and Upscalio have either pivoted or are looking to be acquired while bigger rivals such as Mensa Brands and FirstCry arm GlobalBees are focusing on sustainable growth of select brands from their portfolio.
D2C startup 10club appoints Kavitha Rao as COO & cofounder
Kavitha Rao would spearhead its retail operations across both online and physical channels, while also shaping the firm’s category roadmap and leading day-to-day operations.
Mensa buys MensXP, iDiva and Hypp from Times Internet for undisclosed sum
Mensa Brands has acquired online lifestyle publications MensXP and iDiva, and influencer marketing management firm Hypp from Times Internet. The terms of the deal were not disclosed.
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Goat Brand Labs raises $50 mn from new, existing investors
Since its inception in 2021, Goat Brand Labs has completed 15 acquisitions.
10club set to close $30 mn funding round led by Olive Tree Capital
10club is also the second company after Mensa Brands to announce that it would launch its products in the US market. “The team has also initiated a new vertical that exports goods to the middle-east and North Africa (MENA) region and the USA,” the company said.
Mensa Brands expands into US, Middle East, other global markets
This comes at a time when the roll-up commerce sector is facing headwinds, with the likes of US-based Thrasio cutting costs amid a change of chief executive.
Delhivery CEO says ‘no conflict’ between growth, profits, Mensa spreads its wings
Delhivery said on Monday that its revenue in the March quarter more than doubled from last year to Rs 2,071 crore, while net profit remained flat at Rs 119.8 crore
Shake-up looms as funding party ends for roll-up ecommerce model
Will a duopoly with two of the players, Mensa and GlobalBees, taking a disproportionate share of capital lead to a major consolidation in the highly capitalised sector
UpScalio raises $15 million in funding led by Gulf Islamic Investments
The company will use the fresh capital to partner with more brands, invest in hiring across key growth functions, and build other technology and growth capabilities
MMG launches omni-channel digital platform Moonshot
MMG, among the largest franchise bottling partners for soft drinks maker Coca Cola India, and exclusive partner for fast food chain McDonald’s in the North and East, is in the process of onboarding brands and is hiring a top team for the ambitious venture, MMG promoter director Anant Agarwal told ET.
Fundraising will only get better in 2022, startup founders say
Almost 92% of founders who attempted to raise capital in 2021 said they had a favourable experience and 75% of them expect the environment to get better this year, according to InnoVen Capital’s Startup Outlook Report 2022.
GlobalBees enters unicorn club with $110 million funding led by Premji Invest
Post the investment, GlobalBees said its valuation has risen to $1.1 billion.
ETtech Deals Digest: Mensa Brands is India's fastest unicorn
India minted another unicorn this week as Mensa Brands, the ecommerce roll-up firm founded by former Myntra CEO and Medlife cofounder Ananth Narayanan, entered the unicorn club.
Sebi proposes new rules for startup IPOs; SoftBank eyes Indian fintech
India's markets regulator has made several proposals for startup IPOs in a paper it released on Tuesday.
Mensa turns unicorn in six months; rollup ecommerce explained
Mensa Brands, the brand aggregator and rollup firm founded by former Myntra CEO and Medlife cofounder Ananth Narayanan, is the latest startup in India to achieve unicorn status.
Rollup ecommerce: an idea whose time has come
The largest acquirer of Amazon businesses and one of the top 25 sellers on Amazon, three-year-old Thrasio is credited with creating a whole new category of businesses -- ecommerce rollup firms.
Mensa Brands turns unicorn within six months of launch
Mensa Brands, led by former Myntra CEO Ananth Narayanan, has raised $135 million in a new funding round led by Alpha Wave Ventures along with participation of Prosus Ventures as a new investor.
GlobalBees acquires homegrown millennial skincare brand Prolixr
With this acquisition, GlobalBees has entered the personal care segment, which is expected to reach $37.2 billion in India by the year 2025.
What A16z’s CoinSwitch bet means; MyGlamm's Rs 500-crore acquisition
Now that Andreessen Horowitz's deal with CoinSwitch Kuber is official, we take a look at the details, and what this means for India’s startup ecosystem.
Mensa Brands takes majority stake in 10 consumer brands
Five-month-old Mensa, which is trying to build a 'tech-led house of brands' has acquired anywhere between 51% and 75% in these brands and will grow them along with their original founders.
GlobalBees acquires women's health brand andMe
This acquisition comes within a month of the Thrasio-style aggregator acquiring The Better Home, a sustainable home care products maker.
Exclusive: Thrasio eyes India entry, in talks to acquire Lifelong Online
The US-based company has lined up about $500 million for the Indian market
10club makes first acquisition with baby care brand
Bhavna Suresh, cofounder of 10club, told ET that as part of the acquisition, My NewBorn’s founders Rakesh and Abhishek Jain will join 10club as entrepreneurs in residence for a minimum of 24 months.
Goat Brand Labs raises $36 million from Tiger Global, Flipkart, others
Goat Brand Labs—a Thrasio-style venture of former Flipkart executive Rishi Vasudev—has also secured debt financing of $18 million, taking the total value of the funding round to $36 million.
Mamaearth valued at $730 million as Sofina leads $50 million funding
D2C brand to go deeper in offline market, acquire personal care brands.
10club raises one of the largest seed funding rounds in India
10club, which acquires, operates and grows e-commerce first businesses, has raised $40 million from a clutch of investors, including HeyDay, at a time when Thrasio-style ventures are gaining traction in India.
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