Facebook had raised capital from Microsoft at a valuation of $15 billion in 2007, two years later its valuation was down to $10 billion.
The move comes as Indian startups have sharpened their focus on unit economics after growing rapidly over the past two years.
Time for reality check in startups? Firms like UrbanClap, Swiggy, Rivigo hit $100 million mark in just a year
Led by Internet companies, more than 1,000 startups raked in at least Rs 35,000 crore this year, a record for India’s startup ecosystem.
This year has been historic for India’s startup ecosystem, with record fundraising helping more companies vault to billion-dollar valuations.
Delhivery aims to now create technology solutions for merchants, help them list on online marketplaces and develop point-of-sale systems.
With 35% users each in the US and Asia Pacific region and the remaining in Europe, 99Games is one of the first Indian gaming studios to hit this success.
Oyo chief executive Ritesh Agarwal and Zo Rooms CEO Dharamveer Chauhan did not respond to email queries and phone calls from ET.
Currently, there are about 460 local services startups and more than 100 home service companies, according to startup data tracker Tracxn.
Bengaluru-based door to door repairing and maintenance service provider to use fund for acquisitions, partnerships and expanding network
Roadrunnr which started as a hyperlocal logistics company aims to expand to delivering packages both within large cities and local neighbourhoods.
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