In no rush to sell stakes in Zomato, Policybazaar: Info Edge’s Sanjeev Bikhchandani

In no rush to sell stakes in Zomato, Policybazaar: Info Edge’s Sanjeev Bikhchandani
ETtechSanjeev Bikhchandani, the founder of Info Edge and a prominent startup investor, stated on Friday during his company’s earnings call that they are in no rush to sell their stakes in Zomato and Policybazaar, the two companies which listed on Indian bourses last year.
Bikhchandani’s comments come at a time when Zomato is facing significant selloff pressure as a result of market volatility, concerns around corporate governance and lack of disclosure, especially around its acquisition of Blinkit, a quick commerce firm.
In no rush to sell stakes in Zomato, Policybazaar: Info Edge’s Sanjeev Bikhchandani
The stock was further under stress after last month’s expiration of the pre-IPO lock-in period for Zomato investors, when firms including ride-hailing major Uber and Tiger Global sold shares in the food-delivery company.
Bikhchandani said it is possible that the use of the money received from the sale of the company’s stakes in Zomato and Policybazaar will result in “sub-optimal” investments. He went on to clarify that the final decision would be made by the board of the company.
“Typically, a fund has to write all its first cheques three years before the close of the fund. Suppose we were to deploy Rs 10,000 crore from the two exits. That would mean investing in 300 early-stage companies at an average cheque size of Rs 10 crore,” he said.
Currently, Info Edge owns a 15.3% stake in Zomato and 13.3% in Policybazaar.
“If you sell the stake, then you have only 1X of the money. Whereas if you hold on to the stake, the money might multiply in the future. My view is if a business has legs, why not hold on to it for a while? However, nothing is etched in stone and ultimately the board decides on such matters,” Bikhchandani added.
Concerns about founders receiving a significant portion of employee stock ownership plans (Esops) from newly listed tech firms were also addressed by Bikhchandani.
“I think it is important to look at each case separately and look at a few things. First, was there disclosure of the Esops prior to IPO? The second thing is if founders have been forced to dilute too much of their shareholding, will they have (enough incentives for) 5-7 years to run the ship,” he said.
“If the dilution was a result of competitive raising, there could be a more sympathetic view… maybe some amount (of Esops to founders) is justified… such as 1-3% of the company. We also need to see whether the founder took the decision himself or if executive directors were on board in the process,” he added.

News Related


SAS Viya analytics suite now available on Azure Marketplace

Viya’s move to the marketplace allows enterprise customers to access its tools and features in a pay-as-you-go model, the company said. Read more »

Despite Apple’s best efforts, Meta and Google are still out of control

Apple's ATT helps, but it can't fix everything. Read more »

Deadpool 3 will bring Hugh Jackman back as Wolverine in 2024

In a mind-blowing turn of events, Ryan Reynolds took to social media on Tuesday to not only announce the release date of Deadpool 3, but also to reveal that Hugh ... Read more »

US Law Enforcers' Cellphone Tracking Tool Purchases to be Limited? New Legislation Could be Introduced

U.S. law enforcement agencies’ cellphone tracking tool purchases may soon be limited. (Photo : Photo by Alexander Koerner/Getty Images for Volkswagen AG)A model types a message on her mobile phone ... Read more »

What’s Next for Skydance Animation and John Lasseter Following ‘Luck’ Release?

(Photo : Skydance Animation) You may have recalled recently that Skydance Animation Studios released their first full-length feature film, ‘Luck.’ Speckled with an all-star cast of voice actors and a ... Read more »

Rising global temperatures point to future widespread droughts

Credit: Pixabay/CC0 Public Domain More frequent and longer-lasting droughts caused by rising global temperatures pose significant risks to people and ecosystems around the world, according to new research from the ... Read more »

Samsung Galaxy S23 series charging speed is a joke

Samsung is already moving on to prepare the ground for the Galaxy S23 series debut. As usual, the company will introduce t, the Galaxy S23, S23 Plus, and S23 Ultra ... Read more »

Meet The 26-Year-Old Spearheading Gaming’s Next Revolution

(Photo : Paul Taylor) Imagine a world where video game players have actual ownership over their characters – it’s a concept that 26-year-old Paul Taylor is already working overtime to ... Read more »

Google Fiber Revs Up Its Multi-Gig Speeds to 20Gbps in Newest Field Test

What’s happening Google Fiber, which already features 1-gig and 2-gig speed tiers, has reached 20 gigs in its most recent field test in Kansas City. Why it matters The year ... Read more »

Scientists bring the fusion energy that lights the sun and stars closer to reality on Earth

Physicist Min-Gu Yoo with slides from his paper in background. Credit: Elle Starkman/PPPL Office of Communications; collage by Kiran Sudarsanan Physicists at the U.S. Department of Energy’s (DOE) Princeton Plasma ... Read more »

Researchers discover method to control carcinogenic formaldehyde release from wood in the home

Credit: Unsplash/CC0 Public Domain New research, led jointly by the University of Massachusetts Amherst and the University of North Texas, advances our understanding of how the wood in our homes ... Read more »

3 Netflix releases debut today, including a hilarious stand-up comedy special

Tuesday, September 27, is a light day as far as new Netflix releases go, with only three titles set to debut on the streamer — though, from a certain perspective, ... Read more »

Xiaomi-backed “CCC” launches electric sports car

Xiaomi is a leading force in the tech segment. However, it’s also known in China as a big investor for startups. The company holds a lot of startups under its ... Read more »

New commercetools Report Found that Customer Loyalty Drops When Brands Don’t Innovate

The report reveals that lack of commerce innovation negatively impacts customer experience, sales, and brand loyalty. Nearly three-quarters of business decision-makers recognise that failure to adopt emerging commerce solutions will ... Read more »

New Chief Security Officer of Traceable AI, Richard Bird

Traceable, the industry’s leading API security and observability company, announced the appointment of Richard Bird as Chief Security Officer (CSO). In this role, he will lead Traceable’s internal data security ... Read more »

First global survey of mayors shows urgent climate, infrastructure, equity challenges

Credit: Unsplash/CC0 Public Domain A new global survey of city leaders underscores pressing challenges facing municipalities, including rising inequality, extreme heat and flood risks exacerbated by climate change, and a ... Read more »

Researchers discover new predator damaging our ecosystems

Cyanoraptor lies in wait, then ambushes its cyanobacterial prey—attaching to the cell walls and effectively eating it from the inside out. Cyanoraptor was first identified in biocrusts from the Sonoran ... Read more »

New NullMixer dropper infects your PC with a dozen malware families

A new malware dropper named ‘NullMixer’ is infecting Windows devices with a dozen different malware families simultaneously through fake software cracks promoted on malicious sites in Google Search results. NullMixer ... Read more »

iPhone Browser Running Slow? Try This Simple Trick

Your iPhone doesn't have to load pages like it's on a dial-up connection. Read more »

These 10 iPhone apps are actually adware, so delete them now

We often write about malicious Android apps on Google’s Play Store, but Apple’s App Store is typically more secure. Of course, that doesn’t mean that it’s impenetrable, as we’ve noted ... Read more »

Most cyber breaches are caused by human error: cybersecurity depends on you too

Check Point Software, a leading provider of cybersecurity solutions globally, marks Cybersecurity Awareness Month by highlighting the need for each and every individual to prioritize cybersecurity, in both their business ... Read more »

HCLTech to Supercharge New York Giants and New York Jets Fan Experiences as New Cornerstone Partner of MetLife Stadium

HCLTech, a leading global technology company, today announced it has been named an Official Cornerstone Partner of MetLife Stadium and the official digital transformation partner of the New York Giants, ... Read more »

BigCommerce Now Available in Google Cloud Marketplace, Giving Enterprise Customers the Power to Modernize Their Ecommerce Platforms and Accelerate Digital Transformation

BigCommerce (Nasdaq: BIGC), a leading Open SaaS ecommerce platform for fast-growing and established B2C and B2B brands, today announced its launch on Google Cloud Marketplace, making it easier for global enterprise ... Read more »

Old Mission Selects Solace to Support Rapid Growth of Business through Event-Driven Architecture

Solace, the leading enabler of event-driven architecture for real-time enterprises, announced today that Old Mission, a global, multi-asset market-making firm, has selected Solace’s event streaming and management platform to support ... Read more »

Quest Software Announces Public Beta for SharePlex for PostgreSQL

Quest Software, a global systems management, data protection and security software provider, today announced the public beta of SharePlex for PostgreSQL. SharePlex is the industry-leading database management and replication solution ... Read more »

Temporall introduces analytics for Google Workspace

Today, Temporall announces the availability of Google Workspace Analytics, a new integration for their multi-cloud workplace analytics platform. Google Workspace Analytics enables IT and business leaders to understand the impact ... Read more »

The Metaverse – buzzword or long term trend for luxury goods?

The metaverse – a type of digital universe – has been springing up in a range of places. Perhaps most well-known through Meta’s offering, the metaverse has so far been ... Read more »

Quest Software Further Simplifies Microsoft 365 Tenant Migrations By Offering a “Buy Now” option for On Demand Migration on the Azure Marketplace and Game-Changing Capabilities

Quest Software, a global systems management, data protection and security software provider, today introduced more ways to simplify Microsoft 365 tenant migrations, making Quest On Demand Migration (ODM) available for ... Read more »

Maximize IoT Connectivity Benefits with Simple, Yet Robust Solutions

IoT promises a host of benefits coming from using a simplified IoT solution rather than attempting to combine various components from different suppliers. The benefits that IoT promises to include ... Read more »

REPLY: solve security riddles in a 24-hour marathon. Countdown to the Reply Cyber Security Challenge open to security lovers from all over the world

Registrations are now open for the fifth edition of Reply’s online team-based competition dedicated to cyber security and open to young professionals and cyber security enthusiasts from all over the ... Read more »

Kevin Keegan to headline leading MSP and IT Channel conference in October

CompTIA, the leading trade association for the global technology industry and workforce, announced today that registration is open for its 2022 EMEA Member and Partner Conference. The conference, which brings together ... Read more »

Researchers unlock a new method for testing protein-based drugs

Workflow of the NJIT team’s CMS method, combining liquid chromatography (LC), electrochemical oxidation (EC) and mass spectrometry (MS)-based quantitative measurement of protein abundance. Credit: NJIT New Jersey Institute of Technology ... Read more »

Climate change could mean more intense locust outbreaks and threaten food security

Brightly-colored South American Locusts covering local plants. Locusts bask in sunlight to raise their body temperature while they are digesting food. Credit: Jacob Youngblood A new study by a research ... Read more »

Why Wireless Keyboards Should Use AAA Batteries

Logitech It’s getting harder to find battery-powered keyboards. And I mean keyboards that run on AA or AAA batteries, not the rechargeable monstrosities that constantly beg for a USB cable. ... Read more »

Prototype electric airplane takes first flight

Credit: Eviation A prototype, all-electric airplane took its first flight Tuesday morning in central Washington state. The Seattle Times reports that if the Federal Aviation Administration eventually certifies the small ... Read more »

Researchers reconstruct the genome of the common ancestor of all mammals

An international team has reconstructed the genome organization of the earliest common ancestor of all mammals. The reconstructed ancestral genome could help in understanding the evolution of mammals and in ... Read more »

Researchers identify African dust by measuring isotopes

Dr. Shankar Chellam generated this image for a 2017 African dust episode reaching Houston using NASA web resources. Credit: NASA Worldview Every summer, weather forecasters blast news about African dust ... Read more »

Determining how and why cells make decisions

Two binder proteins (blue and purple) are engineered to bind a particular target protein (red), such as lysozyme. Only in the presence of the target protein do the two halves ... Read more »

As Ian barrels toward Florida, residents brace for hurricane hell

Volunteers and city employees were scrambling to fill and load sandbags ahead of the arrival of Hurricane Ian, which US forecasters say is headed for a direct and potentially catastrophic ... Read more »

NASA moon rocket back in hangar, launch unlikely until Nov.

The NASA moon rocket, right, slated for the Artemis mission to the moon rolls back to the Vehicle Assembly Building at the Kennedy Space Center Tuesday, Sept. 27, 2022, in ... Read more »
Breaking thailand news, thai news, thailand news Verified News Story Network