Latest news with #TigerGlobal
Yahoo
3 days ago
- Business
- Yahoo
Indian cloud kitchen startup EatClub to raise $22m
Indian cloud kitchen startup EatClub is set to raise Rs1.85bn ($22m) in a funding round spearheaded by Tiger Global, as reported by Entrackr. The round will also be joined by A91 Partners and 360 ONE Asset Management. The company's board has approved the issuance of 11,830 preference shares to facilitate the investment, as indicated in a regulatory filing with the Registrar of Companies (RoC). In this funding round, Tiger Global is expected to invest Rs1.26bn, while A91 Partners contributes Rs3.75bn. Additionally, 360 ONE Asset Management, through its Monopolistic and Opportunity Fund, will provide Rs2.12m. There is potential for further capital to be raised in the round. EatClub will use the funds for its growth and expansion. Estimates from Entrackr suggest that the company will achieve a valuation of Rs45.85bn or $540m following this funding round - an 80% increase in valuation compared to its previous fundraising of $40m at a $300m valuation in December 2021. In March 2022, EatClub also completed a secondary transaction worth $30m at an undisclosed valuation. Founded by Anshul Gupta and Amit Raj, EatClub operates a multi-brand cloud kitchen model, featuring sixteen brands including Box8, Mojo Pizza, Bhatti Chicken, NH1 Bowls and ZAZA Biryani. In the competitive landscape, EatClub competes with Rebel Foods, which raised $210m in 2024 through a mix of primary and secondary funding. Other competitors include Freshmenu, Curefoods' Eatfit and BBK. "Indian cloud kitchen startup EatClub to raise $22m" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Time of India
3 days ago
- Business
- Time of India
Substance vs form: All eyes now on Tiger Global case after SC's verdict on global hospitality leader Hyatt International
Mumbai: After the Supreme Court verdict last week on the global hospitality leader Hyatt International, all eyes are on the high-stake Tiger Global case , whose outcome, expected in August, could sway the fortunes of many foreign investors and force them to change the way they run their shops to bet on India. But, can the Hyatt ruling have a rub-off on the verdict on Tiger? With the same bench of judges that ruled on Hyatt to decide on Tiger-the question has cropped up among legal eagles, tax experts, and MNCs as the battle between Tiger, an offshore investor, and India's tax office nears a closure. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Dubai villas | search ads Get Deals Undo The question stems from the court's observation that "legal form does not override economic substance". This single observation, according to several practitioners, may link the two cases, even though they pertain to different issues. THE COMMON LINK Live Events The Hyatt feud was over whether the foreign firm, acting as a consultant to an Indian hotel group, had a ' permanent establishment ' (PE) in India. The court-while observing that "legal form does not override economic substance" -said it did as Hyatt was not a typical consultant but was deeply involved in running the hotel in India, thanks to the terms of the deal. A 'PE' status means the foreign party would pay tax here on the portion of its global earnings attributable to India - and not just the tax deducted from its fees. The Tiger case, on the other hand, relates to 'capital gains' on sale of stocks - whether a Mauritius entity could escape tax in India merely on the back of the ' tax residency certificate ' (TRC) it obtained from the Mauritian authorities under the treaty the country has with India. Here is how the 'substance versus form' argument comes up: is TRC, a piece of paper, good enough to avoid tax by a shell entity which has no office, hires few or no employees, and has no power to make decisions? While the TRC gives it 'legal form', in reality, it may just be a paper outfit lacking 'substance'. "The Hon'ble SC regarded utmost importance to 'substance over form principle' and in doing so did a deep dive into the documents to ascertain 'control of operations', actual activities of employees and commercial agreements (like revenue linked service fees) in the Hyatt International matter. Substance over form , control and management and commercial substance are important factors that take centre stage even in treaty eligibility cases and a ruling in the case of Tiger Global is expected soon," said Ashish Mehta, partner at the law firm Khaitan & Co. A COURT REMINDS It's widely believed that armed with TRCs, many overseas private equity houses save tax on sale of shares (acquired before 2017) while foreign portfolio investors avoid tax on profits from equity derivatives as their investing arms are incorporated in treaty jurisdictions like Mauritius and Singapore. Many such arrangements would come unstuck, if the SC points at inadequate substance to rule against Tiger. "Recent rulings, from Formula One to Nestle SA to Hyatt International, demonstrate a consistent judicial approach: for any tax structure, the legal framework must align with the actual, factual substance of the arrangement. If not, the court may not grant tax relief in such cases," said Ashish Karundia, founder of the CA firm Ashish Karundia & Co. He feels that post Hyatt, chances are that non-residents may also be required to satisfy a 'substance' test in addition to holding a TRC when seeking treaty benefits. "Considering the greater scrutiny faced nowadays, it is essential to understand that the degree of reliability assigned to TRC is that of sufficient evidence rather than an irrebuttable evidence. It is sufficient, to begin with, but neither sacrosanct nor infallible!," said Karundia. The tax office had questioned Tiger Global's stand of not paying tax when it sold shares of Flipkart Singapore (holding shares of an Indian company) to another foreign investor (linked to Walmart) on the grounds that Tiger's Mauritius arm (the actual seller owning the Singapore entity) was only a vehicle used to avoid tax. Agreeing on the possibility of the court putting matters under the 'substance' lens, Rahul Garg, managing partner of Asire Consulting, which advises MNCs on tax, finance, assurance, and regulatory matters, said, "The court examined the commercial and operational realities to evaluate the degree of control and supervision by the foreign entity. It reiterated that legal form does not override economic substance. Since it's a fundamental requirement that tax treaties need to be availed in good faith, these observations could further support the Revenue's case if it can prove that the parent was an active participant with significant control and supervision in the decision making on investments by the entity which recorded the capital gains." It isn't the first time the court held substance over form. But that it chose to give a subtle reminder in the Hyatt ruling is lending itself to interpretation.
Yahoo
7 days ago
- Business
- Yahoo
Billionaire Chase Coleman Sold 94% of His Fund's Stake in Uber and Is Loading Up on a Skyrocketing Stock Whose Addressable Market Can 11X by 2032
Key Points Form 13Fs offer a way for investors to track the quarterly buying and selling activity of Wall Street's most-promising money managers. Profit-taking might not be the only reason billionaire Chase Coleman sent most of his fund's stake in Uber Technologies to the chopping block in the March-ended quarter. Meanwhile, Tiger Global's Coleman has eyes for an industry leader taking charge in the early stages of the quantum computing revolution. 10 stocks we like better than Microsoft › For some investors, earnings season is the pinnacle of data dumps on Wall Street. This is the six-week period each quarter where the stock market's most prominent and influential businesses lift the hood on their operating results. However, a strong argument can be made that the quarterly filing of Form 13Fs with the Securities and Exchange Commission provides equally invaluable information to investors. A 13F is a required filing by institutional investors who have at least $100 million in assets under management. What makes 13Fs so precious is they can clue investors into the stocks, industries, sectors, and trends that have piqued the attention of Wall Street's brightest money managers. While Warren Buffett tends to be the most-followed of all fund managers, he's not the only billionaire capable of delivering outsized returns or locating a good deal. Tiger Global Management's billionaire chief Chase Coleman is known for his love of small- and large-cap growth stocks, as well as his desire to pack his fund's portfolio with companies that can take advantage of Wall Street's next-big-thing trends. During the March-ended quarter, Coleman green-lit the sale of most of his fund's stake in ride-share colossus Uber Technologies (NYSE: UBER), and piled into into a skyrocketing tech stock whose addressable market in the next-hottest investment trend -- no, not artificial intelligence (AI) -- can 11X by 2032. Billionaire Chase Coleman slams the door on Uber Though Tiger Global Management's billionaire chief pared down or exited his fund's stake in 11 companies during the first quarter, the 2,446,700 shares of Uber Technologies that were sold is the biggest eye-opener. This worked out to a 94% reduction from Tiger Global's position at the end of 2024. The most logical of all reasons for this selling activity is simple profit-taking. While few money managers hold for the long-term these days, Tiger Global's average holding period is a little over two years and eight months. With Coleman's fund holding north of 5 million shares of Uber during the third quarter of 2023, and Uber stock effectively doubling since then, locking in gains may have been viewed as a wise idea. However, there might be more to Chase Coleman's selling activity in Uber than just benign profit-taking. Perhaps the biggest risk for Uber in the ride-sharing arena is steadily growing competition. Since David Risher took over as CEO of Lyft (NASDAQ: LYFT) in April 2023, all he's done is clamp down on unnecessary costs and shift his company from a cash-burner to a significant cash generator. With Lyft now profitable on a recurring basis and generating boatloads of cash flow from operations, it has a genuine opportunity to chip away at Uber's market-leading share. To build on this point regarding competitive pressures, Coleman may have also been anticipating downside pressure from robotaxis. Alphabet's autonomous ride-hailing service Waymo is rapidly expanding its service in Los Angeles and San Francisco, while Tesla recently unveiled a test service of its robotaxis in portions of Austin, Texas. Uber Technologies' valuation is a bit of an eyesore, as well. When 2023 began, Uber was valued at less than 2 times sales. As of this writing on July 20, it's now tipping the scales at nearly 4.3 times sales. Though its current price-to-sales (P/S) ratio is still less than half of its peak in 2021, it's roughly four times higher than chief rival Lyft. This issue is that Lyft appears to be a far better value than Uber, even with the latter providing sales channel diversification via Uber Eats and its logistics network. The final piece of the puzzle that may have enticed Chase Coleman to dump shares of Uber is the prospect of a U.S. recession taking place. Uber isn't time-tested in the sense that it hasn't navigated its way through an organic U.S. recession. This is yet another uncertainty that calls its somewhat premium valuation into question. This stock is up almost 1,000% in a decade, and Chase Coleman is gobbling up its shares On the other end of the spectrum, Tiger Global Management's billionaire investor purchased five new stocks during the first quarter and added to 14 existing positions. Though quite a few of these buys probably turned heads, the 896,700 shares of Microsoft (NASDAQ: MSFT) that Coleman bought stands out. This upped Tiger Global's stake in Microsoft by 17% since the end of 2024. Most investors have been piling into Microsoft because of its cloud computing and artificial intelligence ties. Azure is the world's No. 2 cloud infrastructure service platform by spending, based on estimates by Canalys. Incorporating generative AI solutions, and giving its subscribers the ability to build and train large language models, provides Azure with an opportunity to sustain a 30% (or greater) growth rate. But this might not be the only reason Coleman is loading up on shares of Microsoft, or why shares of the company have skyrocketed just shy of 1,000% over the trailing decade. In addition to AI, quantum computing has earned its time in the spotlight. This still-developing technology relies on specialized computers that use quantum mechanics to solve complex equations that traditional computers can't do. Quantum computing can potentially make AI algorithms more efficient, as well as aid with drug development, among other benefits. Based on an estimate from Fortune Business Insights, the global addressable market for quantum computing is expected to grow nearly 11-fold from $1.16 billion in 2024 to $12.62 billion by 2032. Note: Estimates are all over the map with quantum computing, with some foreseeing the cumulative economic impact of this technology approaching $1 trillion in a decade. Microsoft is among the companies on the cutting-edge of this next hot trend. Microsoft has developed a quantum processing unit known as Majorana 1, which is being integrated with a cloud-based compute platform that it's dubbed "Azure Quantum." While this is still in its very early stages, Microsoft's solutions can allow businesses to run quantum algorithms, as well as estimate what resources would be needed to scale quantum machines in the future. Though Microsoft isn't a quantum computing pure-play, it's clearly benefiting from the hype surrounding this technology. Something else noteworthy about Microsoft is its cash flow generation and pristine balance sheet. The company's legacy Windows and Office segments generate copious amounts of cash flow that it can redirect to faster-growing initiatives, such as cloud computing, AI, and quantum computing. Microsoft closed out the March quarter with almost $80 billion in cash, cash equivalents, and short-term investments, and it's generated over $93 billion in net cash from operations through the first nine months of fiscal 2025 (its fiscal year ended on June 30). Microsoft has the ability to take innovative risks that most other companies can't afford to. Should you buy stock in Microsoft right now? Before you buy stock in Microsoft, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Microsoft wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $641,800!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,023,813!* Now, it's worth noting Stock Advisor's total average return is 1,034% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Sean Williams has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet, Microsoft, Tesla, and Uber Technologies. The Motley Fool recommends Lyft and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. Billionaire Chase Coleman Sold 94% of His Fund's Stake in Uber and Is Loading Up on a Skyrocketing Stock Whose Addressable Market Can 11X by 2032 was originally published by The Motley Fool Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Globe and Mail
7 days ago
- Business
- Globe and Mail
Billionaire Chase Coleman Sold 94% of His Fund's Stake in Uber and Is Loading Up on a Skyrocketing Stock Whose Addressable Market Can 11X by 2032
Key Points Form 13Fs offer a way for investors to track the quarterly buying and selling activity of Wall Street's most-promising money managers. Profit-taking might not be the only reason billionaire Chase Coleman sent most of his fund's stake in Uber Technologies to the chopping block in the March-ended quarter. Meanwhile, Tiger Global's Coleman has eyes for an industry leader taking charge in the early stages of the quantum computing revolution. 10 stocks we like better than Microsoft › For some investors, earnings season is the pinnacle of data dumps on Wall Street. This is the six-week period each quarter where the stock market's most prominent and influential businesses lift the hood on their operating results. However, a strong argument can be made that the quarterly filing of Form 13Fs with the Securities and Exchange Commission provides equally invaluable information to investors. A 13F is a required filing by institutional investors who have at least $100 million in assets under management. What makes 13Fs so precious is they can clue investors into the stocks, industries, sectors, and trends that have piqued the attention of Wall Street's brightest money managers. While Warren Buffett tends to be the most-followed of all fund managers, he's not the only billionaire capable of delivering outsized returns or locating a good deal. Tiger Global Management's billionaire chief Chase Coleman is known for his love of small- and large-cap growth stocks, as well as his desire to pack his fund's portfolio with companies that can take advantage of Wall Street's next-big-thing trends. During the March-ended quarter, Coleman green-lit the sale of most of his fund's stake in ride-share colossus Uber Technologies (NYSE: UBER), and piled into into a skyrocketing tech stock whose addressable market in the next-hottest investment trend -- no, not artificial intelligence (AI) -- can 11X by 2032. Billionaire Chase Coleman slams the door on Uber Though Tiger Global Management's billionaire chief pared down or exited his fund's stake in 11 companies during the first quarter, the 2,446,700 shares of Uber Technologies that were sold is the biggest eye-opener. This worked out to a 94% reduction from Tiger Global's position at the end of 2024. The most logical of all reasons for this selling activity is simple profit-taking. While few money managers hold for the long-term these days, Tiger Global's average holding period is a little over two years and eight months. With Coleman's fund holding north of 5 million shares of Uber during the third quarter of 2023, and Uber stock effectively doubling since then, locking in gains may have been viewed as a wise idea. However, there might be more to Chase Coleman's selling activity in Uber than just benign profit-taking. Perhaps the biggest risk for Uber in the ride-sharing arena is steadily growing competition. Since David Risher took over as CEO of Lyft (NASDAQ: LYFT) in April 2023, all he's done is clamp down on unnecessary costs and shift his company from a cash-burner to a significant cash generator. With Lyft now profitable on a recurring basis and generating boatloads of cash flow from operations, it has a genuine opportunity to chip away at Uber's market-leading share. To build on this point regarding competitive pressures, Coleman may have also been anticipating downside pressure from robotaxis. Alphabet 's autonomous ride-hailing service Waymo is rapidly expanding its service in Los Angeles and San Francisco, while Tesla recently unveiled a test service of its robotaxis in portions of Austin, Texas. Uber Technologies' valuation is a bit of an eyesore, as well. When 2023 began, Uber was valued at less than 2 times sales. As of this writing on July 20, it's now tipping the scales at nearly 4.3 times sales. Though its current price-to-sales (P/S) ratio is still less than half of its peak in 2021, it's roughly four times higher than chief rival Lyft. This issue is that Lyft appears to be a far better value than Uber, even with the latter providing sales channel diversification via Uber Eats and its logistics network. The final piece of the puzzle that may have enticed Chase Coleman to dump shares of Uber is the prospect of a U.S. recession taking place. Uber isn't time-tested in the sense that it hasn't navigated its way through an organic U.S. recession. This is yet another uncertainty that calls its somewhat premium valuation into question. This stock is up almost 1,000% in a decade, and Chase Coleman is gobbling up its shares On the other end of the spectrum, Tiger Global Management's billionaire investor purchased five new stocks during the first quarter and added to 14 existing positions. Though quite a few of these buys probably turned heads, the 896,700 shares of Microsoft (NASDAQ: MSFT) that Coleman bought stands out. This upped Tiger Global's stake in Microsoft by 17% since the end of 2024. Most investors have been piling into Microsoft because of its cloud computing and artificial intelligence ties. Azure is the world's No. 2 cloud infrastructure service platform by spending, based on estimates by Canalys. Incorporating generative AI solutions, and giving its subscribers the ability to build and train large language models, provides Azure with an opportunity to sustain a 30% (or greater) growth rate. But this might not be the only reason Coleman is loading up on shares of Microsoft, or why shares of the company have skyrocketed just shy of 1,000% over the trailing decade. In addition to AI, quantum computing has earned its time in the spotlight. This still-developing technology relies on specialized computers that use quantum mechanics to solve complex equations that traditional computers can't do. Quantum computing can potentially make AI algorithms more efficient, as well as aid with drug development, among other benefits. Based on an estimate from Fortune Business Insights, the global addressable market for quantum computing is expected to grow nearly 11-fold from $1.16 billion in 2024 to $12.62 billion by 2032. Note: Estimates are all over the map with quantum computing, with some foreseeing the cumulative economic impact of this technology approaching $1 trillion in a decade. Microsoft is among the companies on the cutting-edge of this next hot trend. Microsoft has developed a quantum processing unit known as Majorana 1, which is being integrated with a cloud-based compute platform that it's dubbed "Azure Quantum." While this is still in its very early stages, Microsoft's solutions can allow businesses to run quantum algorithms, as well as estimate what resources would be needed to scale quantum machines in the future. Though Microsoft isn't a quantum computing pure-play, it's clearly benefiting from the hype surrounding this technology. Something else noteworthy about Microsoft is its cash flow generation and pristine balance sheet. The company's legacy Windows and Office segments generate copious amounts of cash flow that it can redirect to faster-growing initiatives, such as cloud computing, AI, and quantum computing. Microsoft closed out the March quarter with almost $80 billion in cash, cash equivalents, and short-term investments, and it's generated over $93 billion in net cash from operations through the first nine months of fiscal 2025 (its fiscal year ended on June 30). Microsoft has the ability to take innovative risks that most other companies can't afford to. Should you invest $1,000 in Microsoft right now? Before you buy stock in Microsoft, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Microsoft wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $641,800!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,023,813!* Now, it's worth noting Stock Advisor's total average return is 1,034% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Sean Williams has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet, Microsoft, Tesla, and Uber Technologies. The Motley Fool recommends Lyft and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
Yahoo
23-07-2025
- Business
- Yahoo
Gupshup raises $60M in equity and debt, leaves unicorn status hanging
Gupshup, a business messaging startup that began its journey in India over two decades ago and became a unicorn four years ago, has raised a new over $60 million round — but is keeping its new valuation under wraps. In 2021, Gupshup raised two funding rounds within four months, securing $340 million from prominent investors including Tiger Global, Fidelity Management, Think Investments, and Malabar Investments. These rounds — the startup's first in roughly a decade — valued Gupshup at $1.4 billion. However, Fidelity, which led the round following its unicorn milestone, slashed its internal valuation of the startup at least three times between 2023 and 2024, bringing it down to as low as $486 million. The new funding round, which combines equity and debt financing from Globespan Capital Partners and EvolutionX Debt Capital, aims to help the San Francisco-headquartered startup expand its presence across its high-growth markets, including India, the Middle East, Latin America, and Africa. The startup would not reveal the exact debt portion although its founder and CEO Beerud Seth told TechCrunch that the equity part is 'a little more than half.' In 2004, Gupshup — derived from Indian slang meaning 'conversations' — started as a platform to help businesses connect with their customers through text messages. It gained popularity as text messages were not free at the time, and people were seeking ways to send messages to their friends and community groups. However, as communication shifted from short messaging service (SMS) to WhatsApp and Rich Communication Services (RCS), the startup moved to these avenues with its chatbot services. Now, as AI has become a catchall term, and AI agents — software that can perform specific tasks on behalf of users — have emerged everywhere, Gupshup has started enabling businesses to deploy agents. 'There's a lot of demand coming from enterprises. Everybody needs to build these AI agents, which work through messaging like RCS and WhatsApp or through voice. So, building out these agents, there's huge demand, and we need to support it,' Seth said. Globally, AI agents are gaining traction, with startups building them drawing strong investor interest. Tech giants like Amazon, Google, and Microsoft are also exploring how to bring more of these agents to users through their own platforms. The result: competition is heating up. Gupshup does not view the rising competition as a threat. Seth pointed to the startup's substantial install base — which exceeds 50,000 customers across more than 100 countries — and its track record of product innovation, driven by years of experience in business messaging, strategic acquisitions, and internal R&D. 'Businesses cannot use simple foundation models off the shelf and just put them in front of customers. They need a lot of customization to be done, and that's where Gupshup comes in. That's what we provide,' he noted. Since its last round in July 2021, the startup 'tripled' its revenue and grew its profitability, Sheth said. However, it is unclear whether that resulted in an increased valuation, as, he said, this latest round was not priced. 'As a founder, you focus on value, and the valuation will follow,' Seth said when asked whether he still considers the startup a unicorn. 'We operate ourselves like we are going to be a big company.' Alongside expanding geographically, the startup aims to utilize its fresh funding to enhance its products, which are used in industries including automotive, banking, e-commerce, fintech, media, payments, retail, and travel. Its products also include click-to-chat ads, an AI campaign copilot, agent assist, and campaign manager. Gupshup claims to power over 120 billion messages annually for thousands of enterprises. Looking ahead, the startup sees an IPO as its next major milestone. 'We're talking to all our advisors, lawyers, bankers, accountants, and so on, to figure this out,' Seth said. The startup has no specific timeline for its public listing, although Seth told TechCrunch that it could happen in 18–24 months. Gupshup is exploring whether it should list on Indian stock exchanges — a move that makes strategic sense, as the startup views India, where WhatsApp dominates, as a more favorable market. Among the reasons: it's easier to communicate its story to local retail investors, who are more familiar with WhatsApp and understand how Gupshup's products, including its AI agents, operate within the platform. However, since Gupshup is domiciled in the U.S., a flip to India would trigger tax liabilities, which could require additional funding. The IPO 'is the one thing that we don't control entirely. The calendar depends as much on external factors as it does on the company,' Seth said. Sign in to access your portfolio
