1947 Tech Newsletter 🇮🇳

Share this post

1947 Tech 🇮🇳: 152

1947tech.substack.com

1947 Tech 🇮🇳: 152

Flipkart, China, dogecoin & more!

shiva singh sangwan
May 11, 2021
Share this post

1947 Tech 🇮🇳: 152

1947tech.substack.com

1. Flipkart in early talks to raise $1 billion ahead of IPO

Indian e-commerce giant Flipkart has hit the market to raise about $1 billion at up to $30 billion valuation in a pre-IPO financing round.

The Bangalore-based startup, which sold majority stake to Walmart for $16 billion in 2018, initiated fundraise possibilities with some investors earlier this year and has since grown more serious and hired bankers.

“34% of the population [in India] are millennials, young people. By 2030, there is an estimate that this young population of millennials and GenZ will be 75% of the total population. 700 million Indians are digital today. And I also want to just quickly acknowledge that Digital India vision of the Government of India, which has actually enabled this. So you have a unique combination of a big market, completely digital, getting wealthier and very young,” said Kalyan Krishnamurthy, CEO of Flipkart, in February.

Flipkart in early talks to raise $1 billion ahead of IPO

2. China expresses concern over its absence in India’s 5G trials

China expressed concern on Wednesday over India’s move to not grant any Chinese firm permission to participate in 5G trials in the world’s second-largest internet market as the two neighboring nations struggle to navigate business ties amid their geo-political tensions.

India’s Department of Telecommunications earlier this week approved over a dozen firms’ applications to conduct a six-month trial to test the use and application of 5G technology in the country.

Among those who have received the approval include international giants such as Ericsson, Nokia and Samsung that will collaborate with Indian telecom operators Jio Platforms, Airtel, Vodafone Idea and MTNL for the trial.

Huawei, ZTE and other Chinese companies that have been operating in India for several years, haven’t received the approval from the Indian government to participate in the upcoming trial. The Indian ministry said earlier this week that it granted permission to those firms that had been picked by the telecom operators.

China expresses concern over its absence in India’s 5G trials


A tweet:

Twitter avatar for @kunalb11
Kunal Shah @kunalb11
We as Indians will have 2 choices after this storm is over. Give up hope and leave this nation after all the pain and suffering we went through. Convert all of this pain and suffering as potential energy to fix this nation forever. One choice is easy, other is worthy.
6:53 AM ∙ May 2, 2021
14,976Likes2,434Retweets

Share 1947 Tech Newsletter 🇮🇳


Worth your attention:

  1. BharatPe set to become unicorn with a new round led by Tiger Global Link

  2. Zomato may invest $100 million in Grofers as e-grocer shelves US IPO plan Link

  3. Indian online teaching platform Teachmint raises $16.5 million Link

  4. Dogecoin mania reaches Indian crypto exchanges Link

  5. Online pharmacy firms see massive order surge in second wave Link

  6. PUBG to relaunch in India as Battleground Mobile India Link

  7. Ola Electric brings on board Wayne Burgess as head of vehicle design Link

  8. India holds up wireless approvals for China-made devices, delaying launches Link

  9. Paytm pitches in with oxygen plants while Delhivery offers logistic aid Link

Thank you for reading. Please share any feedback, questions or comments with me on Twitter :)

Share this post

1947 Tech 🇮🇳: 152

1947tech.substack.com
Comments
TopNewCommunity

No posts

Ready for more?

© 2023 Shiva Singh Sangwan
Privacy ∙ Terms ∙ Collection notice
Start WritingGet the app
Substack is the home for great writing