In a research note, HSBC estimates that the Indian edtech giant Byju’s, once valued at $22 billion, is now worth nothing.
The write-down in its estimation makes Byju’s one of the most spectacular startup slides in recent memory.
Those issues — coupled with abrupt resignations from its auditor and board members — contributed to derailing a $1 billion fundraise deliberation by Byju’s.
Prosus, one of Byju’s largest investors, publicly slammed the startup, alleging it “regularly disregarded advice” from the backer.
It stands to reason then, that in the research note HSBC also estimated the value of Prosus’ 10% stake in the Indian startup to be zero because of the ongoing legal cases and funding crunch.
And they’re calling their company… The Mobile-First Company.
Too many companies that offer B2B tools treat mobile apps as companion apps and second-class citizens.
Small companies don’t need a complicated enterprise software solution.
While Siel Brunet is more experienced with the needs of large companies, he has also seen how B2B apps don’t work well with small businesses.
Many small companies simply rely on consumer apps to fill their needs.
One of the challenges for alternative proteins, particularly plant-based, is developing a product that mimics the taste of traditional meat.
The company is making “hybrid meat, dairy and eggs” it says, by combining traditional animal proteins with plant-based ingredients.
“We use our meat proteins, oils, water and spices to get to our formulation, and that allows us to create a clean-label product,” Even told TechCrunch.
Our meat proteins cook in the same manner, the same temperature range, etc.
Signed contractsAt two years old, Ingrediome is still pretty early, and it will be at least two more years before it can manufacturer enough product to sell to traditional meat companies.
