Unicorns

Lazada receives another $342.5m capital infusion from Alibaba

This brings Alibaba’s total investment in Lazada so far this year to more than $1.6b.

The hotel aggregator said it will cut 10% of its 3,700 employee base.

Investors have turned more selective about fresh funding, says the head of the country’s first metaverse unicorn.

Carousell was “too optimistic” about the pace of its growth and increase in investments, admits CEO.

For GoTo, employee expenses are higher than other costs.

India has produced 24 unicorns with a combined valuation of $50b till Oct vs 45 in entire 2021.

The SoftBank-backed firm is letting go of 350 employees in the fourth round of sackings this year.

Amagi turned unicorn after raising $95 million in a funding round led by Accel in March this year.

The company’s revenue from operations jumped 39% in Q2.

Dozens of Grab employees, as well as merchant partners across 40 locations, will be affected.