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} div#custom-code { padding: 10px 20px !important; } .mx-200 { max-width: 200px !important; } .pd-10 { padding: 10px !important; } } .gt-cta { background: #002D98; padding: 10px 40px; border-radius: 10px; color: white; font-size: 20px; } </style> <div class="content-defi">Scroll down to catch up on the latest happenings and developments taking place in the private markets landscape!</div> <br> <br> <div style="margin-bottom:20px;" class="nav-sections"> <a href="#du"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e22af0e877052135822c85_Asset%2030%406x.png"> </a> <a href="#wn"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e903f8c624b9738ff291f9_Asset%2082%406x.png"> </a> <a href="#id"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e8e5b4ae456041fb362ab1_Asset%2083%406x.png"> </a> </div> <div class="content-defi " style="margin-right:0 !important;padding: 20px 30px;background: #f7f5f2;"> <div id="pm" class="content-defi " style="margin-right:0 !important;padding: 20px 0px 0px;"> <div> <table border="0" cellpadding="20" cellspacing="0" class="text_block" role="presentation" style="mso-table-lspace: 0pt; mso-table-rspace: 0pt; word-break: break-word;background: #fff;" width="100%"> <tr> <td style="padding:20px 0 !important;"> <div style="font-family: sans-serif"> <div class="txtTinyMce-wrapper" style="font-size: 12px; font-family: Poppins, Arial, Helvetica, sans-serif; mso-line-height-alt: 18px; color: #1d1d1b; line-height: 1.5;"> <img id="du" src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e04e7cbb21833229d6_Asset%2056%404x.png" style="display: block; height: auto; border: 0;padding-top: 10px; max-width: 100%;" title="Banner"> <p style="margin-top:6px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;">Here's a quick glance at the latest deal-related news in the market.</p> <img class="mx-200" src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e10d200a7da1e14f9b_Asset%2057%404x.png" style="display: block; height: auto; border: 0;padding-top: 40px; max-width: 100%;margin-left:30px;width: 290px;" title="heading"> <p style="margin-top:36px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;color: #002D9C;text-align:left;font-weight:300; text-decoration:none;"> <a style="color: #002D9C;text-decoration:none;" href="https://yourstory.com/2022/11/dunzo-raises-rs50-cr-debt-from-blacksoil" target="_blank"> <b>Dunzo raises Rs. 50 crores of debt from Blacksoil</b> </a> <br> <i style="color:#171723;font-size: 14px;">November 30th, 2022</i> </p> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;">Quick commerce startup Dunzo has raised INR 50 crore ($6.2 million) from Blacksoil India following a special resolution to allot 1,000 non-convertible debentures at an issue price of INR 500,000 per debenture for the fundraise. <br> <a style="color: #002D9C;text-decoration:none;" href="https://yourstory.com/2022/11/dunzo-raises-rs50-cr-debt-from-blacksoil" target="_blank"> With Dunzo planning to shut down their dark stores across NCR and Hyderabad to optimise cost, in FY22, the company recorded a total consolidated losses worth INR 464 crore, a 2x spike from prior fiscal year. In addition, the revenue grew 2x and stood at INR 54 crore during the same period. </a> <a href="https://yourstory.com/2022/11/dunzo-raises-rs50-cr-debt-from-blacksoil" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display: block; width: 115px; height: auto; border: 0;padding-top: 10px; max-width: 100%;margin-left:0px;" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;"> <b>Our Experts' Opinion</b> <br>Dunzo's recent capital raise is linked to a strategic shift that the company is attempting, by limiting its quick delivery services in high-density neighborhoods and experimenting with increasing its time limit for quick delivery. Debt is expected to give the company an alternate pool of capital, without diluting its equity, with some of its key investors - such as Reliance Retail being keen on maintaining a controlling equity stake. <br> <br> The FY22 financials are just the reflection of the wider signals about profitability that we had been witnessing through the year, based on anecdotal evidence. One of the key increases in expenses at Dunzo had been in marketing and advertising, with a 5-6x increase in costs; in absolute terms, employee direct expenses remained the biggest cost for the company. </p> <img class="mx-200" src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f7c98c1c3a422612895f_Asset%2059%404x.png" style="width: 280px;display: block; height: auto; border: 0;padding-top: 40px; max-width: 100%;margin-left:30px;" title="heading"> <p style="margin-top:36px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px; padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;color: #002D9C;text-align:left;font-weight:300;text-decoration:none;"> <a style="color: #002D9C;text-decoration:none;" href="https://vegconomist.com/cultivated-cell-cultured-biotechnology/eat-justs-good-meat-reveals-worlds-first-butchery-to-sell-cultivated-meat/" target="_blank"> <b>Eat Just, Inc’s cultivated meat arm, GOOD Meat reveals the world’s first butchery to sell cultivated meat </b> </a> <br> <i style="color:#171723;font-size: 14px;">December 8th, 2022</i> </p> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;"> With Singapore’s Huber’s Butchery will be serving cultivated meat, with the first pilot - cultivated chicken which will be - available for in-restaurant dining by reservation. At the time of the announcement, GOOD Meat was the only producer of cultivated chicken with the ability to sell to consumers, though the recent greenlighting of UPSIDE Meat’s product will likely signal further regulatory approvals around the world. </p> <a href="https://vegconomist.com/cultivated-cell-cultured-biotechnology/eat-justs-good-meat-reveals-worlds-first-butchery-to-sell-cultivated-meat/" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display: block; width: 115px; height: auto; border: 0;padding-top: 10px; max-width: 100%;margin-left:30px;" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;"> <b>Our Experts' Opinion</b> <br> This is a clear sign of increasing acceptance and commercialization of Eat Just's lab-cultivated meat. Especially, considering that the process of approval in Singapore was extremely stringent and time taking, the mainstreaming of cultured meat at Huber's also paves the way for the first cultured meat factory being planned by Eat Just early next year in the city-state. </p> <p style="margin-top:36px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;color: #002D9C;text-align:left;font-weight:300;text-decoration:none;"> <a style="color: #002D9C;text-decoration:none;"href="https://www.ft.com/content/444e9971-16f0-48ba-b4b6-ad970cc116c1"> <b>Klarna aims to return to monthly profitability in 2023 as losses double </b> </a> <br> <i style="color:#171723;font-size: 14px;">December 1st, 2022</i> </p> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;">Klarna, in line with being prudent about the losses which may occur in 2023, plans to achieve monthly profitability by August or September next year. In an effort to curb further losses and reduce its dependency on fundraising (although future investments are not ruled out entirely), the company plans to tighten its lending, especially to new consumers. </p> <a href="https://www.ft.com/content/444e9971-16f0-48ba-b4b6-ad970cc116c1" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display: block; width: 115px; height: auto; border: 0;padding-top: 10px; max-width: 100%;margin-left:30px;" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;"> <b>Our Experts' Opinion</b> <br> Klarna's conviction around returning to profitability is based around a pick-up in e-commerce sales and consumer spending in the developed markets, especially Europe, which looks challenging, given the economic outlook for the next year. That said, the cost cuts and efficiency measures that it has instituted in the current year might bear some fruit, when it comes to bringing the company’s finances back in black. </p> <p style="margin-top:36px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;color: #002D9C;text-align:left;font-weight:300;text-decoration:none;"> <a style="color: #002D9C;text-decoration:none;"href="https://www.cnbc.com/2022/11/30/crypto-exchange-kraken-lays-off-1100-employees.html"> <b>Crypto exchange Kraken lays off 1,100 employees </b> </a> <br> <i style="color:#171723;font-size: 14px;">November 30th, 2022</i> </p> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;">Kraken, the world’s third-largest crypto exchange by volume, is laying off about 30% of its employees, with slowing demand for cryptocurrencies and geopolitical factors driving down trading volumes and commissions. </p> <a href="https://www.cnbc.com/2022/11/30/crypto-exchange-kraken-lays-off-1100-employees.html" style="display: block;width: 115px; height: auto; border: 0;padding-top: 10px; max-width: 100%;margin-left:0px;" title="CTA"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display: block; width: 115px; height: auto; border: 0;padding-top: 10px; max-width: 100%;margin-left:30px;" title="CTA"> </a> </a> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;"> <b>Our Experts' Opinion</b> <br> This reduction takes their team size back to where it was only 12 months ago. However, Kraken is not alone amongst its cohort to have laid off a significant share of its workforce.<br> Significantly lower client signups and falling trading volumes, alongside a tighter regulatory scrutiny, that led to the company's settlement with US OFAC for violating Iran sanctions are believed to be the reasons behind its downsizing. A turnaround from here, given the general conditions in the crypto exchange space, looks tough at this stage. </p> <p style="margin-top:36px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;color: #002D9C;text-align:left;font-weight:300;text-decoration:none;"> <a style="color: #002D9C;text-decoration:none;" href="https://www.crowdfundinsider.com/2022/11/199138-deal-activity-deal-value-on-carta-platform-declined-every-quarter-of-2022/"> <b>In 2022, deal activity and deal value on the Carta platform declined every quarter, returning to pre-pandemic levels</b> </a> <br> <i style="color:#171723;font-size: 14px;">November 27th, 2022</i> </p> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;">In the year 2022, the total deal volume in Q3 “was down 30% relative to Q2, while cash raised by startups on Carta fell by 48% quarter over quarter (Q-o-Q). Despite a decline in deal counts and round sizes at most other stages in Q2, valuations at the seed stage remained high. However, that changed in Q3, “as median seed deal size dropped by 9%— the first decline in eight quarters.” </p> <a href="https://www.crowdfundinsider.com/2022/11/199138-deal-activity-deal-value-on-carta-platform-declined-every-quarter-of-2022/" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display: block; width: 115px; height: auto; border: 0;padding-top: 10px; max-width: 100%;margin-left:30px;" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;"> <b>Our Experts' Opinion</b> <br> These trends reflect a general trend in private markets this year, as secondary liquidity has fallen, bid spreads have widened, companies have been more aggressive in exercising ROFR, and shareholders in the unlisted space have opted to wait and watch, if they can, to ride out the negative sentiment in the private markets. </p> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f7cab4bd5e4cc19b0624_Asset%2060%404x.png" style="display: block; height: auto; border: 0;padding-top: 40px; max-width: 100%;margin-left:30px;" title="heading"> <p style="margin-top:36px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;color: #002D9C;text-align:left;font-weight:300;text-decoration:none;"> <a style="color: #002D9C;text-decoration:none;" href="https://www.moneycontrol.com/news/business/with-91-crore-orders-in-2022-meesho-sees-yoy-growth-of-135-9740981.html" target="_blank"> <b> With 91 crore orders in 2022, Meesho sees Y-o-Y growth of 135% </b> </a> <br> <i style="color:#171723;font-size: 14px;">December 21st, 2022</i> </p> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;"> Apart from generating a whopping 91 crore orders, Meesho has claimed that it has about 140 million annual transacting users. Currently, Meesho generates 75% of its business directly from customers, while 25% is derived from resellers. </p> <a href="https://www.moneycontrol.com/news/business/with-91-crore-orders-in-2022-meesho-sees-yoy-growth-of-135-9740981.html" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display: block; width: 115px; height: auto; border: 0;padding-top: 10px; max-width: 100%;margin-left:30px;" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;"> <b>Our Experts' Opinion</b> <br> 135% YoY growth is impressive in 2022 given this is a year marked by an inflation-led demand slowdown. This is a validation of the evidence that was emerging throughout the year, especially during Meesho's festive sales and pre-Diwali sales of its rising grip on the Tier 2+ markets. The reliance on re-sellers, which was also a major burden on costs due to returns and product quality, has reduced, with direct sales making up 75% of the orders. <br> Overall, the execution efficiency has been a big positive for Meesho in the current year </p> <p style="margin-top:36px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;color: #002D9C;text-align:left;font-weight:300;text-decoration:none;"> <a style="color: #002D9C;text-decoration:none;" href="https://www.costar.com/article/736163140/chime-to-shed-san-francisco-office-space-less-than-a-year-after-record-lease"> <b>Chime continues to squeeze its costs and focus on its core operations </b> </a> <br> <i style="color:#171723;font-size: 14px;">December 20th, 2022</i> </p> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;">Chime is already looking to sell some of its unwanted office space as it joins other tech firms in adjusting to a worsening economy and uncertain financial outlook. Chime signed the largest office deal in San Francisco, and had moved into its new corporate headquarters in 2021, less than a year ago. </p> <a href="https://www.costar.com/article/736163140/chime-to-shed-san-francisco-office-space-less-than-a-year-after-record-lease" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display: block; height: auto;width: 115px; border: 0;padding-top: 10px; max-width: 100%;margin-left:30px;" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;"> <b>Our Experts' Opinion</b> <br> Chime continues to squeeze its costs and focus on its core operations. It also tried to expand its user base by putting in two offers to acquire DailyPay, however the same never worked out as the price was considered undervalued by the latter. The failure to acquire Daily Pay, even though a significant minority of its shareholders were keen on accepting Chime's bid, is likely to further dent its growth plans. An acquisition in this space would have helped it further increase its penetration in the low-wage/ contingent wage worker segment as a banking service provider. </p> <p style="margin-top:36px;margin-bottom:0px; margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;color: #002D9C;text-align:left;font-weight:300;text-decoration:none;"> <a style="color: #002D9C;text-decoration:none;" href="https://economictimes.indiatimes.com/tech/technology/grab-to-implement-cost-cuts-cites-uncertain-macroeconomic-situation-ceo/articleshow/96249740.cms"> <b>Grab to implement cost cuts, cites an uncertain macroeconomic situation </a> </b> <br> <i style="color:#171723;font-size: 14px;">December 15th, 2022</i> </p> </b> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;">In a memo released by Grab, the company plans to implement cost-cutting measures which include steps like hiring and salary freeze for senior managers, and cuts in travel and expense budgets to cope with an uncertain macroeconomic situation. </p> <a href="https://economictimes.indiatimes.com/tech/technology/grab-to-implement-cost-cuts-cites-uncertain-macroeconomic-situation-ceo/articleshow/96249740.cms" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display: block; height: auto;width: 115px; border: 0;padding-top: 10px; max-width: 100%;margin-left:30px;" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;"> <b>Our Experts' Opinion</b> <br> These measures are in line with Grab's bid to attain profitability in 2023. Given that demand conditions in its core markets (South-East Asia) remain challenging, the company has opted to streamline costs even more aggressively, to meet its earnings targets. The cut is also in line with the company's bid to focus on their core business of ride-hailing and food delivery, and reining its plans to expand in the financial services space. </p> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/63120e0bdea098f1dceacb5f_Updates-Mailer-%2B-blog_2-(19-08-2022)_Emailer-19-08-2022_small_38.gif" style="display: block; height: auto; border: 0;padding-top: 40px; max-width: 100%;margin-left:30px;" title="heading"> <p style="margin-top:36px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;color: #002D9C;text-align:left;font-weight:300;text-decoration:none;"> <a style="color: #002D9C;text-decoration:none;"href="https://techcrunch.com/2022/12/19/ftc-fines-fortnite-maker-epic-games-520m-over-childrens-privacy-charges/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAH_-_d_-Tyz_NSIKoSRpVcSXugbm-raOqP89EubwDCa1NuxCBYi3_WDsUYphy06zv77gBkBQ3EabK6Q1KlS797a-Vmj_HOM946DX7KMxTFxFuHo58mVCRF-31X6v_qGQgP0mZl7ettxWLA81TG2g4Ij3rsZey_ztg8-RSra4zdCz" target="_blank"> <b>Epic Games to pay US$520 million in children's privacy case </b> </a> <br> <i style="color:#171723;font-size: 14px;">December 19th, 2022</i> </p> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;"> Epic Games has been accused of violating the children's privacy law, hence, attracting a fine of US$520 million. Epic has agreed to pay US$275 million in penalties to the Federal Trade Commission (FTC). In response to the accusations, Epic has confirmed plans to open new types of accounts for children to protect them from online frauds and persuasions, and disable in-app purchases. <a href="https://techcrunch.com/2022/12/19/ftc-fines-fortnite-maker-epic-games-520m-over-childrens-privacy-charges/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAH_-_d_-Tyz_NSIKoSRpVcSXugbm-raOqP89EubwDCa1NuxCBYi3_WDsUYphy06zv77gBkBQ3EabK6Q1KlS797a-Vmj_HOM946DX7KMxTFxFuHo58mVCRF-31X6v_qGQgP0mZl7ettxWLA81TG2g4Ij3rsZey_ztg8-RSra4zdCz" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display: block; height: auto;width: 115px; border: 0;padding-top: 10px; max-width: 100%;margin-left:10px;" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;"> <b>Our Experts' Opinion</b> <br> The strictures from FTC on Epic Games come in the wake of a widespread crackdown on the gaming industry, particularly when seen from the point of view of child safety issues. The judgment shows once again that companies in this space, who are not proactive in thinking about the long-term interests of their customers, are likely to face tough discipline from regulators, apart from reputational loss. The positive aspect is that Epic Games has declared, unlike other gaming rivals, a credible roadmap, with traction to show that it is committed to reform itself as a company. </p> <img src="https://drive.google.com/uc?export=view&id=1fEvJ3TcilDsbZLQeQlq2b5uwhaaxrcyu" style="width: 280px;display: block; height: auto; border: 0;padding-top: 40px; max-width: 100%;margin-left:30px;" title="heading"> <p style="margin-top:36px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;color: #002D9C;text-align:left;font-weight:300;text-decoration:none;"> <a style="color: #002D9C;text-decoration:none;"href="https://www.livemint.com/companies/start-ups/byjus-creditors-seek-quicker-part-payment-of-1-2-billion-loan-11670910077101.html" target="_blank"> <b>Byju's creditors seek quicker repayment of US$1.2 billion debt </b> </a> <br> <i style="color:#171723;font-size: 14px;">December 13th, 2022</i> </p> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;">A group of creditors has asked Byjus for an immediate repayment of a US$ 1.2 billion loan. As a result of the edtech titan's breach of terms, the lenders have hired Houlihan Lokey Inc. to advise them on amending covenants. Due to steep losses and a need to reduce costs, the company is attempting to restructure the loan. </p> <a href="https://www.livemint.com/companies/start-ups/byjus-creditors-seek-quicker-part-payment-of-1-2-billion-loan-11670910077101.html" target="_blank"> <img src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display: block; height: auto;width: 115px; border: 0;padding-top: 10px; max-width: 100%;margin-left:30px;" title="CTA"> </a> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;"> <b>Our Experts' Opinion</b> <br> Our understanding is that most creditors who had bought this debt from primary lenders are already re-negotiating terms with Byju's - soliciting monthly performance updates, appointing a new CFO and increasing the interest rate on the loan. Only a minority of lenders want repayment. This seems unlikely as a repayment would require at least 51% of the lenders to agree to the same. <br> <br> <table id="wn" border="0" cellpadding="20" cellspacing="0" class="text_block" role="presentation" style="mso-table-lspace: 0pt; mso-table-rspace: 0pt; word-break: break-word;background: #012d98;" width="100%"> <tbody><tr> <td style="padding:20px 0 !important;"> <div style="font-family: sans-serif"> <a href="https://help.kristal.ai/hc/en-us/articles/7021948650257" target="_blank" rel="noopener noreferrer"><img src="https://drive.google.com/uc?export=view&id=1csFaFESQGKEnahqZTn4_3S_dnpKkPLns" style="width:100%;"> </a> </div> </td> </tr> </tbody></table> <table border="0" cellpadding="20" cellspacing="0" class="text_block" role="presentation" style="mso-table-lspace: 0pt; mso-table-rspace: 0pt; word-break: break-word;background: #fff;" width="100%"> <tr> <td style="padding:20px 0 !important;background: #F2EFEA;"> <div style="font-family: sans-serif"> <div class="txtTinyMce-wrapper" style="font-size: 12px; font-family: Poppins, Arial, Helvetica, sans-serif; mso-line-height-alt: 18px; color: #1d1d1b; line-height: 1.5;"> <img id="id" class="mw-100" src="https://assets-global.website-files.com/614a9edd8139f5def3897a73/62e8e5b48acaee0a3d505cca_Asset%2084%406x.png" style="display: block; height: auto; border: 0;padding-top: 10px; max-width: 350px;" title="Banner"> <p style="margin-top:6px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;">Discover interesting private markets facts and information right here!</p> <table style="width:100%"> <tr> <td style="width:50%" class="w100-section"> <img class="mw-200" src="https://drive.google.com/uc?export=view&id=1lbEcIecZtd2PyZ8HFvHwizcQCMtlD8-h" style="display: block; height: auto; border: 0;padding-top: 40px; max-width: 250px;margin-left:30px;" title="heading"> <a style="color: #002D9C;text-decoration: none;" href="https://www.linkedin.com/feed/update/urn:li:activity:7008773230878482432" target="_blank"> <p style="margin-top:36px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;color: #002D9C;text-align:left;font-weight:300;"> <b>Early-stage deals take the lion’s share in the overall deal volume </b> </p> </a> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;"> Early-stage investments continued to receive high interest from investors and subsequently commanded a lion’s share in the overall deal volume as of Q3 2022. </p> <br> <a href="https://www.linkedin.com/feed/update/urn:li:activity:7008773230878482432" style="display: block; height: auto; border: 0;padding-top: 10px; max-width: 100%;margin-left:30px;" title="CTA"> <img src="https://global-uploads.webflow.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display: block; height: auto; border: 0;padding-top: 10px; max-width: 100%;margin-left:0px;" title="CTA"></a> </td> <td style="width:50%" class="w100-section"> <a href="https://www.linkedin.com/feed/update/urn:li:activity:7008773230878482432" target="_blank"> <img class="image-blog" src="https://drive.google.com/uc?export=view&id=1qteYq89uR0qu_zTr0WanIxYBnoFPmXbF"style="display: block; height: auto; border: 0;padding-top: 10px; max-width: 100%;" title="Banner"> </a> </td> </tr> </table> <img class="mw-200" src="https://drive.google.com/uc?export=view&id=1cmYRBo0mBBk3uxS_NPVR7xwHwbtWtPuT" style="display: block; height: auto; border: 0;padding-top: 40px; max-width: 150px;margin-left:30px;" title="heading"> <p style="margin-top:36px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;color: #002D9C;text-align:left;font-weight:300;"> <b>The US continues to lead in the most unicorn births globally</b> </p> <table style="width:100%"> <tr class="d-flex" style="vertical-align:middle;"> <td style="width:30%" class="w100-section"> <a target="_blank" href="https://www.linkedin.com/feed/update/urn:li:activity:7011315791870529536"> <img class="image-blog22" src="https://drive.google.com/uc?export=view&id=1JIcrZruoJkqK-R66up7dlYfubaispilP" style="display: block; height: auto; border: 0;padding-top: 0px; max-width: 100%;" title="Banner"> </a> </td> <td style="width:70%" class="w100-section"> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:40px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;"> <b>About</b> </p> <p style="margin-top:25px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:30px;color:#171723;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:left;font-weight:300;"> In Q3'22, the total number of unicorns reached 1,192 globally, with the US housing the most unicorns and delivering the most unicorn births, followed by Asia and Europe.<br></p> <a href="https://www.linkedin.com/feed/update/urn:li:activity:7011315791870529536" style="display: block; height: auto; border: 0;padding-top: 10px; max-width: 100%;margin-left:30px;" title="CTA"> <img src="https://global-uploads.webflow.com/614a9edd8139f5def3897a73/62e0f4e09a22710bd10dbda7_Asset%2058%404x.png" style="display: block; height: auto; border: 0;padding-top: 10px; max-width: 100%;margin-left:0px;" title="CTA"> </a> </td> </tr> </table> <br> <br> </div> </div> </td> </tr> </table> <table border="0" cellpadding="20" cellspacing="0" class="text_block" role="presentation" style="mso-table-lspace: 0pt; mso-table-rspace: 0pt; word-break: break-word;background: #fff;" width="100%"> <tr> <td style="padding:20px 0 !important;"> <div style="font-family: sans-serif"> <div class="txtTinyMce-wrapper" style="font-size: 12px; font-family: Poppins, Arial, Helvetica, sans-serif; mso-line-height-alt: 18px; color: #1d1d1b; line-height: 1.5;"> <p style="margin-top:16px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:10px;font-family: aktiv-grotesk, sans-serif;font-size:22px;color: #002D9C;text-align:center;font-weight:300;"> <b>Intrigued to know more?</b> </p> <p style="margin-top:16px;margin-bottom:0px;margin-right:0;margin-left:0;line-height:1.5;padding-top:0px;padding-bottom:0px;padding-right:10px;padding-left:10px;font-family: aktiv-grotesk, sans-serif;font-size:16px;text-align:center;width: 70%;margin: auto;font-weight:300;margin-top: 10px;margin-bottom: 20px;">Discover exclusive private market opportunities today with Kristal Private Markets. </p> <div style="text-align:center;"> <a text-decoration:none; class="gt-cta onelink-signup" href="https://kristal.ai/kristal-private-markets"> Get Started ➔ </a> <br> <br> </div> </div> </div> </td> </tr> </table> </div>
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