Relevance is often tied to rarity. As a result, anything first – birthday, scientific achievement, or female vice president – carries its own weight. Whether that pressure was sought is a matter of debate in itself, but today, we will focus on the ripple effects of India’s first unicorn IPO: Zomato. Jomato, which is set to begin food distribution next week, has been labeled by journalists and industry experts as India’s largest technology public offering so far. The company’s public debut could be worth up to $8.6 billion and the initial sources of investor interest were overwhelming.
As my colleagues Alex Wilhelm and Anna Him bring to their column, Jomato’s last performance will be seen on Paytm and MobiQuick, two Indian finch unicorns will be unveiled very soon, about 100 Indian unicorns, and of course will return – the capitalist of the centralized enterprise. Start-up success could lead to more entrepreneurial funding, getting off the road, and growth between law and order tensions as a whole has set a milestone for investment. While there is pressure in Jomato not to shake up public markets, it is simply unfounded, not an advance force. Our on-the-ground correspondent Manish Singh religiously points out that India is making signs towards this phenomenon, starting from the initial stage of the fundraising frenzy to how engineers suddenly feel the ability to ask for more money to increase demand.
A Jomato success may tend to attract more investors to the start-up scene, but they will catch on: Indian startups hit a record $10.46 billion in the first half of 2021, up from $4 billion in the same period last year, and $5.4 billion in the first half of 2019, data insights the platform says Traxon TechCrunch. For comparison, Indian startups collected 11 11.6 billion in all of 2020.
Acceptance, both in life and in the beginning, is the first thing that is rarely the result of a decision. Often, if you look closely, there is a huge milestone due to a combination of different wins, successes, failures, and smaller milestones along the way.
It does not remove its title as the largest technology launch to reach the public (relevant, and rare!) In India, but it does suggest that ripple effects are not just a side effect of the financing event, but perhaps its momentum in the first place. For the rest of this newsletter, we’ll get into the trends of emerging fund managers, as well as fund rounding advice that has nothing to do with closing around. You can find me on Twitter at @Nmasc_ or listen to me as a co-host of Equity.
