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New Delhi, Jan 9 () Ed-tech major BYJU'S on Thursday said it has raised an undisclosed amount of funding from Tiger Global Management.
 While BYJU'S did not disclose the quantum of investment, sources said Tiger has pumped in USD 200 million into the company.
 "We are happy to partner with a strong investor like Tiger Global Management. They share our sense of purpose and this partnership will advance our long term vision of creating an impact by changing the way students learn," BYJU'S founder and CEO Byju Raveendran said in a statement.
 The statement said BYJU'S launched a product for young learners (Grades 1-3) in 2019. It is also working on launching programmes in vernacular languages.
 Additionally, BYJU'S will be launching online tutoring in the coming months, it added.
 "BYJU'S has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India. We are excited to support Byju and the team," Tiger Global Partner Scott Shleifer said.
 In the past 12 months, BYJU'S has witnessed strong growth with over 42 million registered users and 3 million paid subscribers in India.
 The average number of minutes a student spends on the app has increased from 64 minutes to 71 minutes per day over the last year too and the annual renewal rates are as high as 85 per cent, the statement said.
 BYJU'S has tripled its revenue from Rs 520 crore to Rs 1,480 crore in 2018-19 and turned profitable on a full-year basis. The company said it is on track to double revenues to Rs 3,000 crore in the current financial year. SR SHW
SHW

Tiger Global Management invests in BYJU'S

<ul><li style="list-style-type: none;"><ul class="summary-list"><li><keyword id="11893278" type="UNKNOWN" weightage="60" keywordseo="tiger-global" source="Orion">Tiger Global</keyword> went on a dealmaking tear with 335 investments in 2021, Crunchbase showed.</li><li>The firm's aggressive investing strategy mixed fast cash and a hands-off approach, founders said.</li></ul></li></ul>It's no exaggeration that in the world of <keyword id="11897927" type="UNKNOWN" weightage="60" keywordseo="venture-capital" source="Orion">venture capital</keyword>, 2021 was the year of Tiger Global. The global hedge fund made its mark with a feverish investing pace that won it some of the year's <a href="https://www.businessinsider.com/tiger-global-hedge-fund-startup-investments-2021-5?r=tiger-lp">biggest venture-capital deals</a>. For instance, it led rounds in <a href="https://markets.businessinsider.com/news/stocks/patreon-fuels-the-future-of-the-creator-economy-with-155-million-in-additional-funding-1030281273?r=tiger-lp">Patreon</a>, a content-creator subscription platform; <a href="https://www.businessinsider.com/hinge-health-most-valuable-healthtech-raised-300m-pitch-deck-2021-1?r=tiger-lp">Hinge Health</a>, a healthcare startup; and <a href="https://www.prnewswire.com/news-releases/side-real-estate-technology-company-raises-another-50m-more-than-doubling-valuation-to-2-5-billion-three-months-after-becoming-unicorn-301321203.html">Side</a>, a real-estate tech company. The firm's approach involved a mix of offering huge amounts of cash to startups in hot sectors, such as crypto and fintech, and a brisk pace of dealmaking that left many of Silicon Valley's biggest venture firms in the dust. Tiger made <a href="https://news.crunchbase.com/news/growth-equity-investors-startups-vc-tiger-global-insight-softbank/">335 total investments</a> in 2021, more than marquee VC firm Andreessen Horowitz, Crunchbase showed. That frenzied pace fueled a competitive market for investors, which boosted valuations of startups across the board to <a href="https://pitchbook.com/news/articles/us-venture-capital-valuation-trends-charts">levels not seen before</a>.Startups that chose to accept investments from Tiger Global <a href="https://www.businessinsider.com/startup-founders-tell-why-tiger-global-wins-so-many-deals-2021-8?r=tiger-lp">told Insider</a> they liked the firm's fast-paced dealmaking and relatively hands-off approach. Unlike other VCs, Tiger rarely takes board seats, they said. Late-stage startup founders, in particular, said they preferred the capital instead of advice.But not all VCs think the changes are for the best. Some <a href="https://www.businessinsider.com/wesley-chan-vc-market-in-danger-tiger-global-andreessen-horowitz-2021-11">top VCs think</a> the incentives get skewed when venture capitalists have billions under management, with firms — including Andreessen Horowitz, Insight Partners, and Sequoia — closing multibillion-dollar funds this year.Needless to say, Tiger's approach to venture investing <a href="https://www.businessinsider.com/how-tiger-global-eclipsed-softbank-to-become-a-global-behemoth-2021-8?r=tiger-lp">threw out</a> the traditional VC rulebook and forced the industry to rethink how it does deals going forward. Yet, there's no sign of that dealmaking stopping. Tiger Global has already closed on an enormous, new $8.8 billion fund, its biggest venture fund ever, <a href="https://www.bloomberg.com/news/articles/2021-10-25/tiger-global-raises-8-8-billion-in-first-close-of-biggest-fund?sref=ipW5reFz">Bloomberg</a> reported. That's on top of a $6.7 billion venture fund it raised in March, and a previous $3.75 billion fund from early last year. Read more on how Tiger Global shook up the venture-capital ecosystem: <ul><li><a href="https://www.businessinsider.com/how-tiger-global-eclipsed-softbank-to-become-a-global-behemoth-2021-8">Hedge fund Tiger Global is blowing up the unwritten rules of startup investing right now with its speed, tons of cash, and hands-off approach</a></li><li><a href="https://www.businessinsider.com/startup-founders-tell-why-tiger-global-wins-so-many-deals-2021-8?r=tiger-lp">How Tiger Global is beating other VCs, according to 6 startup founders who took its deals</a></li><li><a href="https://www.businessinsider.com/tiger-global-is-a-big-investor-in-softbank-insider-says-2021-10?r=tiger-lp">Tiger Global is one of the largest shareholders in SoftBank, and the two are doing more mega VC deals together, an insider says</a></li><li><a href="https://www.businessinsider.com/tiger-global-john-curtius-startup-employees-stock-pay-warning-2021-11?r=tiger-lp">Top Tiger Global dealmaker John Curtius has a stark warning for startup employees about their stock pay</a></li></ul><h3><div type="image" title="Hive cofounders, wearing grey vests, posing against boxes and wooden pallets" height="1331" width="2662" msid="88594976" hostid="261"></div></h3><h2>Founders were shocked and awed</h2>Many startup founders are often shocked and awed by the speed and ease at which the global investment firm opens its mighty war chest.That's because Tiger typically does all of its due diligence on companies beforehand, giving it the upper hand. That was the case with the logistics startup Hive in Berlin, where Tiger led a $34 million Series A, <a href="https://www.businessinsider.com/logistics-startup-hive-series-a-tiger-global-activant-2021-11?r=tiger-lp">said Franz Purucker</a>, the company's chief strategy officer. The hedge fund also did its homework on the email startup Superhuman. CEO Rahul Vohra said <a href="https://www.businessinsider.com/how-startup-superhuman-raised-75-million-from-tiger-global-ivp-2021-8?r=tiger-lp">all it took was a phone call</a> with John Curtius, the head of Tiger's software-investing practice. Two days later, Tiger had invested in Superhuman's $75 million round. Other founders recounted getting deals in a matter of hours or <a href="https://www.businessinsider.com/pitch-deck-that-convinced-tiger-global-to-invest-33-million-2021-9?r=tiger-lp">sometimes even minutes</a>.Read more on startup founders and their deals with Tiger Global:<ul><li><a href="https://www.businessinsider.com/tiger-global-john-curtius-scott-shleifer-startup-founders-miami-2021-11?r=tiger-lp">Tiger Global dealmakers Scott Shleifer and John Curtius are winning over Miami startups. The latest is QuickNode.</a></li><li><a href="https://www.businessinsider.com/how-startup-superhuman-raised-75-million-from-tiger-global-ivp-2021-8?r=tiger-lp">Superhuman CEO Rahul Vohra explains how Tiger Global's John Curtius is very different from other VCs</a></li><li><a href="https://www.businessinsider.com/crypto-startup-moonpay-buying-nfts-tiger-global-coatue-2021-11?r=tiger-lp">How the CEO of Tiger Global-backed crypto startup MoonPay is planning to make NFTs mainstream by making them easier to buy</a></li><li><a href="https://www.businessinsider.com/why-insight-partners-and-tiger-global-invested-in-versatile-2021-9?r=tiger-lp">How a female construction tech founder convinced two powerful VC firms, Insight Partners and Tiger Global, to invest $80 million</a></li></ul><div type="image" title="Revolut CEO Nikolay Storonsky speaks onstage during Day 2 of TechCrunch Disrupt SF 2018 at Moscone Center on September 6, 2018 in San Francisco, California." height="2739" width="5478" msid="88594981" hostid="261"></div><h2>Every market. Every stage.</h2>Tiger made a total of 335 investments in 2021, making deals every four out of five working days, Crunchbase showed. And that meant it doled out funds across a host of startups in every stage in sectors such as <a href="https://www.businessinsider.com/digital-health-startups-backed-by-tiger-global-management-2021-3?r=tiger-lp">digital health</a>, <a href="https://www.businessinsider.com/revolut-fintech-valuation-33-billion-tiger-global-softbank-800-million-2021-7?r=tiger-lp">fintech</a> and <a href="https://markets.businessinsider.com/news/currencies/amber-group-bitcoin-crypto-startup-investment-tiger-global-coinbase-2021-6?r=tiger-lp">crypto</a>.Read more about the funding rounds that Tiger took part in:<ul><li><a href="https://www.businessinsider.com/ultrafast-delivery-service-jokr-raises-funding-over-1-billion-valuation-2021-11?r=tiger-lp">Jokr CEO lays out his growth strategy after the ultrafast delivery startup raises $260 million from Tiger Global, GGV, and other investors</a></li><li><a href="https://www.businessinsider.com/qonto-bank-fundraise-tiger-global-4-4-billion-valuation-2021-11?r=tiger-lp">Challenger business bank Qonto is close to a $5 billion valuation with a new funding round led by Tiger Global</a></li><li><a href="https://www.businessinsider.com/easol-25-million-from-tiger-and-y-combinator-2021-12?r=tiger-lp">Tiger Global and Y Combinator have backed a $25 million round into travel and event-booking startup Easol</a></li><li><a href="https://www.businessinsider.com/fintech-publiccom-valued-at-about-12-billion-in-round-led-by-tiger-2021-2?r=tiger-lp">Tiger Global is leading a massive $200 million investment in Robinhood competitor Public.com at about a $1.2 billion valuation, quadrupling the company's value in just 2 months</a></li><li><a href="https://www.businessinsider.com/ankorstore-french-marketplace-tiger-global-funding-2021-4?r=tiger-lp">Hot marketplace startup Ankorstore is in talks to raise up to $95 million from Tiger Global</a></li><li><a href="https://www.businessinsider.com/no-code-startup-bryter-raises-66m-from-tiger-global-in-us-push-2021-4?r=tiger-lp">No-code startup Bryter just raised $66 million from Tiger Global without a pitch deck for its US expansion</a></li><li><a href="https://www.businessinsider.com/divvy-homes-raises-funding-series-c-equity-round-tiger-global-2021-2?r=tiger-lp">Rent-to-own real-estate startup Divvy Homes raises $110 million in round led by tech investor Tiger Global</a></li></ul><div type="image" title="John Curtius" height="2767" width="5535" msid="88594984" hostid="261"></div><h2>How founders wooed Tiger</h2>Check out the pitch decks that savvy founders used to convince Tiger Global to invest millions of dollars. The investments range from startups that <a href="https://www.businessinsider.com/pitch-deck-internet-of-things-hologram-65m-tiger-global-2021-8?r=tiger-lp">connect scooters and drones to the internet</a> to ones that <a href="https://www.businessinsider.com/briq-pitch-deck-startup-funding-construction-proptech-tiger-global-2021-8?r=tiger-lp">build software to analyze spending at construction sites</a>. Read more:<ul><li><a href="https://www.businessinsider.com/payments-startup-xendit-pitch-deck-used-to-raise-tiger-global-2021-10?r=tiger-lp">Check out the 15-page pitch deck that helped Indonesian payments startup Xendit become a unicorn in a $150 million round led by Tiger Global</a></li><li><a href="https://www.businessinsider.com/facebook-investor-selfbook-pitch-deck-2021-11?r=tiger-lp">Here's the 16-slide pitch deck Selfbook, a startup bringing one-click booking to the travel industry, used to raise $25 million from Tiger Global</a></li><li><a href="https://www.businessinsider.com/exclusive-look-pitch-deck-papaya-used-to-raise-tiger-global-2021?r=tiger-lp">Here's an exclusive look at the pitch deck that workforce-management startup Papaya Global used to raise $250 million from Tiger Global, Insight Partners, and others</a></li><li><a href="https://www.businessinsider.com/cloudsmith-raises-one-largest-tech-rounds-ever-in-northern-ireland-2021-9?r=tiger-lp">Cloudsmith wants to make software management safer. Check out the pitch deck it used to raise $15 million backed by mega-investor Tiger Global.</a> </li><li><a href="https://www.businessinsider.com/pitch-berlin-tech-startup-raises-85m-lakestar-and-tiger-global-2021-5?r=tiger-lp">Here's an exclusive look at the pitch deck PowerPoint rival Pitch used to raise $85 million backed by investment giant Tiger Global</a></li></ul>

How Tiger Global threw out the venture-capital rulebook and bulldozed the competition in 2021

<ul><li><keyword id="11901144" type="UNKNOWN" weightage="60" keywordseo="tiger-global-management" source="Orion">Tiger Global Management</keyword> has lost $16 billion in client assets so far this year, according to a Bloomberg report.</li><li>That represents the hedge fund's worst year ever, with its main fund down 44% year-to-date.</li><li>These are the top 10 holdings of <keyword id="11893278" type="UNKNOWN" weightage="60" keywordseo="tiger-global" source="Orion">Tiger Global</keyword> that contributed to its massive losses.</li></ul>Hedge fund giant Tiger Global Management has taken it on the chin so far in 2022, with its main strategy down 44% in the first four months of the year, according to <a href="https://www.bloomberg.com/news/articles/2022-05-03/tiger-global-sinks-15-in-april-to-push-this-year-s-loss-to-44">a Bloomberg report.</a>Tiger Global's long-only fund experienced an even worse decline, falling 25% in April alone for a year-to-date loss of 52%, according to Bloomberg. The sizable decline has led to a $16 billion reduction in assets under management. The hedge fund managed $46 billion at the start of the year, according to data from Whale Wisdom.In an investor letter seen by Bloomberg, Tiger Global told clients that "<keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">Markets</keyword> have not been cooperative given the macroeconomic backdrop, but we do not believe in excuses and so will not offer any." That macroeconomic backdrop includes rising inflation and higher interest rates, which has led to a year-to-date sell-off of about 20% for the Nasdaq 100.All-in, the disastrous performance means the hedge fund is on track for its worst year ever since it was founded in 2001. Prior to this year's decline, Tiger Global had a strong reputation of delivering consistent outperformance relative to the S&amp;P 500 while notching only two down years since its inception, according to Bloomberg.These are Tiger Global's top 10 holdings at the start of 2022 that likely contributed to the hedge fund's sizable decline so far this year, according to <a href="https://whalewisdom.com/filer/tiger-global-management-llc#tabholdings_tab_link">data from Whale Wisdom.</a> The data is as of December 31, 2021, and there is no telling if Tiger Global sold out of these positions until they file their next 13F later this month. 10. ServiceNow<div type="image" title="man in sunglasses sitting against a blue background" height="1000" width="2000" msid="91326892" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/now-stock">NOW</a> Market Value: $1.4 billion Share of Tiger's Portfolio: 3.11% YTD Decline: -23.8%9. CrowdStrike<div type="image" title="Crowdstrike logo" height="1944" width="3888" msid="91326894" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/crwd-stock">CRWD</a> Market Value: $1.5 billion Shares of Tiger's Portfolio: 3.35% YTD Decline: -2.4%8. Carvana<div type="image" title="A Carvana vehicle showroom is shown" height="2584" width="5169" msid="91326896" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/cvna-stock">CVNA</a> Market Value: $1.7 billion Share of Tiger's Portfolio: 3.66% YTD Decline: -74.5%7. Meta Platforms<div type="image" title="Meta HQ" height="2659" width="5319" msid="91326898" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/fb-stock">FB</a> Market Value: $1.7 billion Share of Tiger's Portfolio: 3.69% YTD Decline: -34.2%6. DoorDash<div type="image" title="A DoorDash rider with his bike and delivery pack on his back exiting a NYC restaurant in winter." height="3023" width="6048" msid="91326901" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/dash-stock">DASH</a> Market Value: $1.7 billion Share of Tiger's Portfolio: 3.76% YTD Decline: -46.0%5. Snowflake<div type="image" title="Snowflake CEO Frank Slootman" height="1500" width="3000" msid="91326902" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/snow-stock">SNOW</a> Market Value: $2.0 billion Share of Tiger's Portfolio: 4.43% YTD Decline: -45.6%4. Nu Holdings<div type="image" title="fintech" height="758" width="1516" msid="91326903" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/nu-stock">NU</a> Market Value: $2.5 billion Share of Tiger's Portfolio: 5.42% YTD Decline: -40.7%3. Sea Limited<div type="image" title="forrest li" height="1249" width="2500" msid="91326904" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/se-stock">SE</a> Market Value: $2.5 billion Share of Tiger's Portfolio: 5.53% YTD Decline: -60.0%2. Microsoft<div type="image" title="Microsoft" height="480" width="960" msid="91326905" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/msft-stock">MSFT</a> Market Value: $2.8 billion Share of Tiger's Portfolio: 6.19% YTD Decline: -14.5%1. JD.com<div type="image" title="JD.com is reported to have started laying off 400 to 600 employees in recent weeks. Here, a man stands next to a billboard advertising JD.com 618 Shopping Festival on May 29, 2021 in Beijing, China." height="1000" width="2000" msid="91326906" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/jd-stock">JD</a> Market Value: $3.8 billion Share of Tiger's Portfolio: 8.17% YTD Decline: -10.3%

Tiger Global is on track for its worst year ever after a 44% decline. These were its top 10 holdings at the start of the year.

<a href="http://www.businessinsider.in/searchresult.cms?query=delhivery&amp;sortorder=effectivedate">Delhivery</a> is likely to raise $100 million, or Rs 673 crore in fresh <a href="http://www.businessinsider.in/searchresult.cms?query=funding&amp;sortorder=effectivedate">funding </a>round from private equity major The Carlyle Group and Chinese conglomerate Fosun.
 
As per reports, if the Delhi-based logistics company raises funds, the valuation could touch nearly $700 million, or Rs 4,700 crore. 
 
"Carlyle is leading the funding round and Fosun is also in talks to participate in the transaction,” ET quoted a person as saying. 
 This will be the fifth round of funding. Earlier, <keyword id="1560090" type="UNKNOWN" weightage="100" keywordseo="Delhivery">Delhivery</keyword> has raised $85 million led by <a href="http://www.businessinsider.in/searchresult.cms?query=Tiger+Global+Management&amp;sortorder=effectivedate">Tiger Global Management</a> in May 2015. 
 "We are a profitable company and this will reflect in our results for the fiscal 2018. We are on track to hit $120 million in revenues for FY 2016-17, which is an 80% growth over last year. We should deliver close to 75-80 million parcels during this period,” Delhivery CEO <keyword id="2257501" type="UNKNOWN" weightage="20" keywordseo="Sahil-Barua">Sahil Barua</keyword> had told ET. 
 
Delhivery had registered a revenue of Rs 524 crore in fiscal 2016 with losses mounting to Rs 317 crore, according to data aggregation service Tofler. The company had a revenue of Rs 228 crore and a loss of Rs 71 crore in fiscal 2015.

Logistics company Delhivery in talks to raise $100 million; valuation may touch $700 million

<ul><li><keyword id="11893278" type="UNKNOWN" weightage="60" keywordseo="tiger-global" source="Orion">Tiger Global</keyword> has had a tough 2022 as its tech stock holdings have sold off considerably.</li><li>The hedge fund giant has reportedly lost $17 billion in client assets amid the broad tech rout.</li><li>These were some of the top changes Tiger Global made to its portfolio during the first quarter.</li></ul>Hedge fund giant <keyword id="11901144" type="UNKNOWN" weightage="60" keywordseo="tiger-global-management" source="Orion">Tiger Global Management</keyword> has taken it on the chin so far in 2022, with its main strategy down 44% in the first four months of the year, according to <a href="https://www.bloomberg.com/news/articles/2022-05-03/tiger-global-sinks-15-in-april-to-push-this-year-s-loss-to-44">a Bloomberg report.</a>Tiger Global's long-only fund experienced an even worse decline, falling 25% in April alone for a year-to-date loss of 52%, according to Bloomberg.The loss <a href="https://markets.businessinsider.com/news/stocks/tiger-global-hedge-fund-losses-tech-stocks-fed-inflation-rates-2022-5">has led to a $17 billion reduction</a> in assets under management, and the fund has now wiped out around two-thirds of the cumulative gains it had made for investments since it was founded in 2001.In an investor letter seen by Bloomberg earlier this month, Tiger Global told clients that "<keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">Markets</keyword> have not been cooperative given the macroeconomic backdrop, but we do not believe in excuses and so will not offer any." That macroeconomic backdrop includes rising inflation and higher interest rates, which has led to a year-to-date sell-off of as much as 30% for the Nasdaq 100.All-in, the disastrous performance means the hedge fund is on track for its worst year ever since it was founded in 2001. Prior to this year's decline, Tiger Global had a strong reputation of delivering consistent outperformance relative to the S&amp;P 500 while notching only two down years since its inception, according to Bloomberg.Amid the carnage, Tiger Global made sweeping changes to its portfolio in the first quarter, according to its 13F filed with the SEC on Monday. Tiger liquidated many of its tech stocks and reduced its concentration in some of its top holdings like JD.com and Microsoft. These were some of the top changes Tiger Global made in the first quarter of 2022, according to its 13F filing. The data is as of March 31, and doesn't reflect any potential changes Tiger may have made since then. 10. Sold Netflix<div type="image" title="The Netflix logo is displayed on a smartphone screen." height="2499" width="4999" msid="91623474" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/nflx-stock">NFLX</a> Prior Shares of Portfolio: 1.42% Current Share of Portfolio: 0%9. Sold Alibaba<div type="image" title="A view outside the headquarters campus of Alibaba Group in Hangzhou in east China's Zhejiang province Thursday, Dec. 24, 2020." height="1591" width="3183" msid="91623477" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/baba-stock">BABA</a> Prior Share of Portfolio: 1.09% Current Share of Portfolio: 0%8. Sold Adobe<div type="image" title="Adobe Creative Cloud" height="1998" width="3997" msid="91623479" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/adbe-stock">ADBE</a> Prior Share of Portfolio: 0.91% Current Share of Portfolio: 0%7. Trimmed Uber<div type="image" title="Uber" height="3389" width="6778" msid="91623482" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/uber-stock">UBER</a> Prior Share of Portfolio: 1.65% Current Share of Portfolio: 0.17%6. Trimmed Peloton<div type="image" title="The exterior of a Peloton store is seen on February 05, 2022 in Dusseldorf, Germany." height="3939" width="7878" msid="91623484" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/pton-stock">PTON</a> Prior Share of Portfolio: 0.80% Current Share of Portfolio: 0.12%5. Bought More Li Auto<div type="image" title="Li Auto One" height="1249" width="2500" msid="91623485" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/li-stock">LI</a> Prior Share of Portfolio: 0.52% Current Share of Portfolio: 1.92%4. Bought More XPeng<div type="image" title="The Xpeng P7 sedan." height="1183" width="2366" msid="91623487" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/xpev-stock">XPEV</a> Prior Share of Portfolio: 0.68% Current Share of Portfolio: 1.42%3. Bought More Monday.com<div type="image" title="Monday.com founders Eran Zinman and Roy Mann at Nasdaq for IPO" height="1993" width="3986" msid="91623489" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/mndy-stock">MNDY</a> Prior Share of Portfolio: 0.13% Current Share of Portfolio: 1.23%2. Bought More Toast<div type="image" title="Toast" height="600" width="1200" msid="91623490" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/tost-stock">TOST</a> Prior Share of Portfolio: 0.34% Current Share of Portfolio: 1.03%1. Bought More Block<div type="image" title="Block logos" height="960" width="1920" msid="91623562" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/sq-stock">SQ</a> Prior Share of Portfolio: 0.49% Current Share of Portfolio: 1.39%

Tiger Global shakes up portfolio after it loses $17 billion amid tech slump. These were some of its biggest changes in the first quarter.

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Flickr/ Keith Roper</div></div></div>Tiger Global Management just raised $2.5 billion for a new venture capital fund, <a href="http://www.sec.gov/Archives/edgar/data/1659414/000165941415000001/xslFormDX01/primary_doc.xml">according to a filing.</a>This is Tiger Global's tenth venture capital fund, and it will be called Tiger Global Private Investment Partners X, L.P. Lee Fixel, the head of Tiger Global's private equity and venture capital investing, will oversee the fund.Tiger Global's founder Chase Coleman wrote in a letter earlier this year that Fixel has spearheaded many of the fund's <a href="http://www.nytimes.com/2015/05/19/business/dealbook/tiger-global-to-revamp-management.html">"most important and successful investments."</a>Fixel, who joined the fund in 2006, <a href="https://www.linkedin.com/in/leefixel">has led </a><a href="https://www.linkedin.com/in/leefixel">investments in privately-held companies</a>, including Facebook, Linkedin, Warby Parker, Eventbrite, Makemytrip, Flipkart, Netshoes, Square, MercadoLibre, Trendyol, Jobs.ch and CatchoftheDay.Tiger Global declined to comment. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/james-altucher-american-dream-college-housing-debt-career-2015-11">JAMES ALTUCHER: The American Dream is a lie</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="pxa24weTqtZQduLr4vlODX7xiO2oUVG5" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Tiger Global just raised $2.5 billion for a new VC fund

At a time when the hospitality industry is seeing new online hotel aggregator entrants that are largely focusing on providing standard affordable stay to any traveler, <keyword id="2825269" type="UNKNOWN" weightage="100" keywordseo="Zo-Rooms">ZO Rooms</keyword> is in efforts to cater to various segment of travelers in the country differently based on their specific needs and demands. For backpackers and leisure travelers, there is <keyword id="2232457" type="UNKNOWN" weightage="100" keywordseo="Zostel">Zostel</keyword> (dorm facility) and ZO homes (bed and breakfast facility); for those traveling with family, they have ZO rooms (budget hotels)/ ZO prime (premium 3 star category)/ ZO star (4-star accommodation) depending on the quality of services customers want and the money they are ready to shell out. Then there is what’s called ZO apartments, largely for corporate travelers who stay for longer duration and want their private space for meetings. 
	 
	<a href="http://www.businessinsider.in/Exclusive-Zostel-eyes-South-East-Asia-and-European-markets-while-expanding-in-India/articleshow/49551763.cms">ALSO READ: Exclusive: Zostel eyes South East Asia and European markets while expanding in India</a>
 

	While their properties Zostel and ZO homes are fresh and new youth-targeted services aimed at breaking the norms of leisure traveling in India, at the same time it’s clear that with ZO Room’s 1,000 properties spread across 50 cities in India already, they are playing it smart. They do not want to lose out on organizing the fragmented market for the traditional, family and corporate traveler. 
 

	“A Zostel caters to backpackers, not corporate or family travelers. These segments want different set of services from what a backpacker would want. So it is essential for us to provide clear and distinguished value proposition for different customers,” says Dharamveer Singh Chauhan, CEO and co-founder, ZO Rooms.
 

	Focused on building these diverse properties, Dharamveer says, the company wants to penetrate everywhere in the country. Currently, ZO Rooms has expanded its network to 11,000 rooms in 1,000 hotels across 50 cities and towns in India. It is targeting 5,000 hotels and 50,000 rooms in the next six months. Where is all the money coming from? 
 For a startup to be able to foray into newer sectors requires backing, and ZO Rooms flaunts of having New York-based investment firm <keyword id="260318" type="COMPANY" weightage="100" keywordseo="Tiger-Global-Management">Tiger Global Management</keyword> and venture capital firm Orios Venture Partners behind them. It is reportedly looking to raise $200 million that will help it in raising capital, but Dharamveer refused to confirm the news or comment on it for now. 

	He, however, said that his company has been lucky in attracting investors from the college days when they raised their first round of funding for Zostels. “Ever since, we have got several offers in our journey. We have decided to go ahead with those who share our vision, have relevant experience and understanding of the ecosystem,” Dharamveer said. He feels if startups have a great team and their business is scalable, attracting funds won't be a problem.
 

	At ZO Rooms, meanwhile, efforts are on to upgrade customer services. “You cannot always expect discounts and cashback offers to get more people to stay at your hotels, a method that our competitors have increasingly resorted to. There needs to be real value for customers to opt for you over others. This is why our hotel partners are much more than somebody we are merely giving bookings to. We give them training, provide them with technology support, infrastructure upgradation, vendor collaboration and most importantly, a feedback mechanism system so that customer concerns can be learnt on an ongoing basis and rectified at the earliest,” says Dharamveer.
 

	In this regard, the company also has what it calls ‘ZO advantage program’ using which the hotel staff at different properties are being trained daily via videos. 
 Also, ZO Rooms has partnered with <keyword id="6354720" type="PERSON" weightage="100" keywordseo="Ola">Ola</keyword>, <keyword id="1042120" type="PERSON" weightage="100" keywordseo="Uber">Uber</keyword> and <keyword id="830092" type="COMPANY" weightage="100" keywordseo="Zomato">Zomato</keyword> in a bid to make the stay experience for customers more seamless. Another crucial area for hotel budget aggregators in enhancing its services is ensuring security. Even as this can prove to be very challenging as they don't own the properties, yet it is imperative to ensure a secure stay for travelers at the same time. ZO Rooms says it has a decent security mechanism in place. Verification is done on every front from customers to hotel partners. Insurances and due licenses are also taken care of by them when they are partnering with hotels. 

	Interestingly, ZO homes, not everyone is entertained. As a security measure, only people who have already stayed at ZO Rooms at least five times are allowed to use the ZO homes category. Also as a concept, this bed and breakfast facility is a western concept just like backpackers. "It’s a fragmented sector," agrees Dharamveer. He feels it will take another five years for bed and breakfast services to emerge in India because trust and security are key essentials here.
 

	As for other ZO properties, the company's aim is to let people travel unplanned with a free mind. 
 

	"Wherever travelers go, they just have to open their apps and easily find ZO properties in the vicinity that match their requirements. That’s the kind of services and level of trust we want to build with our customers. While redefining traveling experience, we are also providing a simple, seamless process of finding, booking and staying at the best customized accommodations for everyone, everywhere,” concludes Dharamveer.

ZO Rooms has a room ‘available’ for every
traveller

<ul class="summary-list"><li><a target="_blank" href="https://openai.com/index/scale-the-benefits-of-ai/">OpenAI announced </a>it raised $6.6 billion in new funding at a $157 billion post-money valuation.</li><li>Tiger Global Management is part of this round, according to two sources familiar with the matter.</li></ul>Tiger Global Management is doubling down on OpenAI, investing in the ChatGPT maker's massive new funding round, according to a source familiar with the matter.<a target="_blank" class="" href="https://openai.com/index/scale-the-benefits-of-ai/">OpenAI announced Wednesday</a> it raised $6.6 billion in new funding at a $157 billion post-money valuation. Thrive Capital is leading the round, <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-10-02/openai-has-closed-new-funding-round-raising-over-6-5-billion">according to Bloomberg.</a> Other investors in this round include Cathie Wood's ARK Venture Fund, Microsoft, Nvidia, Fidelity, and Altimeter. The amount of Tiger's investment couldn't be learned but investors are required to put in a minimum of $250 million, <a target="_blank" class="" href="https://affiliate.insider.com?h=a0c21b230525bf43625dbbc3d14ea971dc3c92b4e4e7def513d06d904be22f70&amp;postID=66fd7dd8d8616474985cc10e&amp;postSlug=tiger-global-openai-latest-funding-round-2024-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Ftiger-global-plans-to-join-openais-funding-round">The Information previously reported.</a>Tiger Global, founded by Chase Coleman, <a target="_blank" class="" href="https://www.businessinsider.com/tiger-global-changed-venture-capital-startups-funding">invested at a furious pace</a> during the tech boom, making 335 investments in 2021, according to Crunchbase. As the market soured, the firm <a target="_blank" class="" href="https://www.businessinsider.com/crossover-funds-tiger-global-d1-deals-2024-2023-12">has been much quieter,</a> but it did purchase $125 million of OpenAI shares at the end of 2021.The closure of OpenAI's new funding round comes just a week after <a target="_blank" class="" href="https://www.businessinsider.com/openai-implosion-investors-vcs-2024-9">three of its top leaders suddenly resigned.</a> Last week, former CTO Mira Murati, former Chief Research Officer Bob McGrew, and former VP of Research for Post Training Barret Zoph announced they were <a target="_blank" rel="" href="https://www.businessinsider.com/sam-altman-openai-note-more-staff-exits-barret-bob-2024-9">leaving the company</a>.<a target="_blank" rel=" nofollow" class="" href="https://www.reuters.com/technology/artificial-intelligence/openai-remove-non-profit-control-give-sam-altman-equity-sources-say-2024-09-25/">Reuters reported</a> last week that OpenAI is currently working to transform its corporate structure to become a <a target="_blank" rel="" class="" href="https://www.businessinsider.com/open-ai-sam-altman-equity-stake-valuation-private-nonprofit-9">for-profit benefit corporation</a> no longer under the control of the company's non-profit arm.

Tiger Global is backing OpenAI in new $6.6 billion investment round

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Getty ImagesNetflix CEO Reed Hastings</div></div></div><ul><li>Tiger Global Management has increased its holdings of tech giants including Netflix, Amazon, Alphabet and more. </li><li>The positions are from a public document known as a 13F, which funds must file every quarter. </li></ul> Billionaire Chase Coleman's Tiger Global Management has increased its bets on some of Wall Street's hottest tech stocks, according to <a href="https://www.sec.gov/Archives/edgar/data/1167483/000091957417008069/xslForm13F_X01/infotable.xml">documents filed Tuesday</a>.Among the fund's $134.6 billion worth of holdings disclosed for third quarter of 2017 was a 711% increase in shares of <a href="http://markets.businessinsider.com/stock/NFLX-Quote">Netflix</a> - which now makes up $553.8 million of the fund's portfolio.According to the 13F, Tiger also made the following tech sector moves during last quarter, according to analysis by Bloomberg:<ul><li>Increased its <a href="http://markets.businessinsider.com/stock/AMZN-Quote">Amazon</a> holdings by 24% to 1.54 million shares, worth $1.48 billion</li><li>Increased its <a href="http://markets.businessinsider.com/stock/FB-Quote">Facebook</a> holdings by 240% to 1.81 million shares, worth $308.8 million</li><li>Increased its <a href="http://markets.businessinsider.com/stock/BABA-Quote">Alibaba</a> holdings by 4.4% to 4.54 million shares, worth $783.5 million</li><li>Sold off all its shares of <a href="http://markets.businessinsider.com/stock/GOOGL-Quote">Alphabet</a> A and C shares, worth a combined $66.4 million.</li></ul>The quarterly filing, called a 13F, lists the long stock positions of investment firms. The positions are current as of 45 days prior, so it is possible that Tiger Global has since changed its positions. Tiger Global Management invests in private and public markets and manages about $20 billion firmwide. The firm managed $5.9 billion in hedge fund assets as of mid-year 2016, according to the Hedge Fund Intelligence Billion Dollar Club ranking. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/preschool-accepts-bitcoin-for-tuition-2017-11">Why this New York City preschool accepts bitcoin but doesn't accept credit cards</a></h3> <div> </div> </div>

A $20 billion investment firm is betting big on Wall Street's hottest tech stocks

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Getty Images/Stephen BrashearMicrosoft CEO Satya Nadella</div></div></div>Billionaire Chase Coleman's Tiger Global exited its big Apple bet last quarter while making a $148 million bet on Alphabet and investing $132 million in Microsoft.In the fourth quarter of 2015, the firm <a href="http://www.businessinsider.com/tiger-global-billion-dollar-apple-bet-2016-2">made a $1.1 billion bet on Apple</a>, and over the course of 2016 started shedding the shares, regulatory filings show.Tiger dropped $407 million in remaining shares of Apple in the fourth quarter of last year, filings show.Bloomberg analyzed the data based off of a regulatory filing that the $20 billion investment firm filed February 14.The quarterly filing, called a 13F, lists the long stock positions of investment firms.The positions are current as of 45 days prior, so it is possible that Tiger Global has since changed its positions. Tiger Global Management invests in private and public markets and manages about $20 billion firmwide. The firm managed $5.9 billion in hedge fund assets as of mid-year 2016, according to the Hedge Fund Intelligence Billion Dollar Club ranking. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/red-flags-goldman-sachs-bank-interviews-jobs-2017-1">This behavior could kill your chances in a Goldman Sachs interview</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="wxbjFnMzE6KLizh2hBTQSDvLOgNQGzpH" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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