Walmart Pay Tax, BYJUS's, Loss Purple & Snapdeal - Startup India News

Walmart and shareholders of PhonePe - will have to pay $1 Billion in tax to India. This tax is because of relocation and rise in value of PhonePe after it shifts company headquarter to India.

Varthana (Edtech Platform) has raised $7 Million in debt funding from US-based global investment firm MicroVest. It aims to offer solutions to affordable private schools.

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Purple is a beauty focused ecommerce platform which is based in Mumbai. There loss jumped from INR 52 Cr in FY21 to INR 203.6 Cr in FY22. Revenue also rose from INR 139 Cr in FY21 to INR 227.4 Cr in FY22.

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Harappa Education (edtech startup) which is based in Delhi has laid off 73 employees that is around 40% of total workforce. In 2022, Harappa Education was acquired by upGrad.

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Founder and CEO of BYJU'S, Byju Raveendran to raise funding to increase his stake from 25% to 40%. Currently BYJU's valued at $22 Billion.

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RateGain, a travel tech startup, to acquire data exchange platform Adara for INR 134 Cr.

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Snapdeal's loss has jumped to over 4X which is around INR 510.3 CR in FY22 from INR 125.4 Cr in FY21. Revenue has rise to juse 10.5% which is at INR 563.5 Cr in FY22 from INR 510 Cr in FY21.

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