<ul><li>It plans to use the latest funding to expand its technology infrastructure and widen its reach to under-penetrated regions.</li><li><keyword id="6189412" type="General" weightage="20" keywordseo="groww" source="Orion">Groww</keyword> had reported a revenue of ₹1 crore in the financial year 2020.</li><li>It competes with profit-making <keyword id="759851" type="General" weightage="20" keywordseo="zerodha" source="Orion">Zerodha</keyword> and <keyword id="12381414" type="General" weightage="20" keywordseo="angelone" source="Orion">AngelOne</keyword> in this domain.</li></ul>Wealth management and investment platform Groww has tripled its valuation to $3 billion, after its $251 million funding round announced on Monday.<br /><br />The Series E funding round was led by Iconiq Growth, with participation from new investors Alkeon, Lone Pine Capital and Steadfast. Sequoia Capital, Ribbit Capital, YC Continuity, Tiger Global and Propel Venture Partners also participated in the round. The development was first <a href="https://www.livemint.com/companies/start-ups/groww-raises-251-mn-triples-valuation-to-3-bn-in-6-months-11635096502920.html">reported</a> by Mint.<br /><br />Groww is the highest valued venture capital (VC)-funded investments platforms in India after this fundraise. <br /><strong><br /></strong><strong>However, what are these valuations based on?</strong><br /><br />Zerodha — which has the most number of users and offerings — is not even in the race as it is a bootstrapped company. In the last two years, Zerodha accorded itself a $1 billion valuation in 2020 and $2 billion valuation in 2021 in order to buy back employee stocks and give them returns.<br /><br />Nitin Kamath, the co-founder and chief executive officer (CEO) of Zerodha, believes that the valuations it has accorded to itself could be conservative. <br /><br />                  <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[<blockquote class="twitter-tweet"><p lang="en" dir="ltr">While there is nothing wrong with chasing valuations, but without being profitable, it’s tough to ride out the downturns in the economy. So this tax arbitrage potentially could be potentially creating not so resilient businesses which isn&#39;t good for our economy in long run 5/11</p>&mdash; Nithin Kamath (@Nithin0dha) <a href="https://twitter.com/Nithin0dha/status/1398215092806684676?ref_src=twsrc%5Etfw">May 28, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]></cdata></div><br />Groww’s valuation is also double that of publicly-listed companies such as AngelOne (formerly <keyword id="103837" type="General" weightage="20" keywordseo="angel-broking" source="Orion">Angel Broking</keyword>), which has a market cap of ₹10,700 crore ($1.4 billion). AngelOne has 5 million registered clients, as per its website. <br /><br />Groww is also the only  startup among the three companies valued over a billion dollars. It is also the one with the <a href="https://entrackr.com/2021/03/groww-expenses-shot-up-20x-in-fy20-with-miniscule-revenue/" data-type="tilCustomLink">least amount of revenue</a> in the financial year 2020. <br />                <div type="image" title="Loss-making Groww is now the most-valued investment platform even though some of its peers make profits" msid="87249158" hostid="261"></div><br />The financial statement for FY2021 is not yet publicly available. <br /><br />Business Insider reached out to Groww seeking details about its financial performance in FY21. However the company declined to comment.<br /><br />Upstox’s RKSV Securities subsidiary is also a player in the domain, although valued below $1 billion. The company had hit profitability in the financial year 2019, but reported a loss of ₹37.99 crore in FY20 after a profitable run of two years. <br /><br />Rata Tata-backed Upstox has two subsidiaries RKSV Securities and RKSV Commodities, with RKSV Securities being the bigger one. <br /><br /><strong>Groww is looking to expand its reach<br /></strong><br />“Groww is already among the leading investment platforms in India, showcasing strong unit economics and customer cohorts. We are excited to participate in its vision to be the primary financial platform for Indian consumers," said Yoonkee Sull, partner at Iconiq Growth.<br /><br />Groww plans to use this funding to expand its technology infrastructure and widen its reach to under-penetrated regions. It will also use the capital to create financial education and awareness about investment products. <br /><br />The company — founded by four former Flipkart employees Lalit Keshre, Harsh Jain, Ishan Bansal and Neeraj Singh in 2016 — has already enabled its customers to invest in US-based stocks through its web platform. <br /><br />The company claims to have more than 2 million users on its platform, with nearly 70% of its users coming from Tier II and III geographies. <br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year of launch<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">User base in 2021<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zerodha<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2010<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 million<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AngelOne<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1996<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.12 million<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Upstox<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2009<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 million<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Groww<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2016<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 million<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><em>Source: Media reports</em><br /><br />Groww has raised nearly $393 million to date from marquee investors like Tiger Global, Y Combinator, Sequoia Capital India, Ribbit Capital and others. It was valued at $1 billion in April 2021. <br /><br /><strong>ALSO WATCH: </strong>A $4.5 billion fund manager talks about the absurdities in the stock market and shares priceless insight<br /><div type="Video" msid="84818150" hostid="261" title="All the absurdities in the stock market" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=84818150"></div><br /><br /><br /><strong>SEE ALSO</strong><br /><a href="https://www.businessinsider.in/stock-market/news/reliance-industries-icici-bank-tata-elxsi-and-other-top-stocks-to-watch-out-for-on-october-25/slidelist/87247835.cms" data-type="tilCustomLink">Reliance Industries, ICICI Bank, Tata Elxsi and other top stocks to watch out for on October 25</a><br /><br /><a href="https://www.businessinsider.in/business/startups/news/twitter-tencent-and-tiger-global-are-investing-in-vernacular-social-media-startups-sharechat-koo-and-public-app/articleshow/87207096.cms" data-type="tilCustomLink">Twitter, Tiger Global, Tencent and others have pumped in over $900 million into India’s vernacular social media platforms in a year</a><br /><br /><a href="https://www.businessinsider.in/tech/news/google-worked-with-facebook-to-undermine-apples-attempts-to-offer-its-users-great-privacy-protections-complaint-alleges/articleshow/87244342.cms" data-type="tilCustomLink">Google worked with Facebook to undermine Apple's attempts to offer its users greater privacy protections, complaint alleges</a><br />

Loss-making Groww is now the most-valued investment platform even though some of its peers make profits

<ul><li><keyword id="430602" type="General" weightage="20" keywordseo="justdial" source="Orion">JustDial</keyword>’s operating revenue declined 6% last quarter compared to the same time period last year.</li><li>This comes as a surprise as the festive season of October-December quarter is usually the best time for any consumer-facing business.</li><li>While the recent management change after Reliance acquisition may be one reason for the recent decline, over-diversification may be another.</li></ul>While many other digital businesses like Zomato, Nykaa and Paytm have recovered from the impact of COVID-19 a long time ago, JustDial seems stuck.<br /><br />Market watchers say it could be because the app is trying to be Google, without the resources to be one.<br /><br />Once again, JustDial's quarterly revenue declined on a year-on-year basis, which is a cause of concern since October-December quarter is usually the best time for any consumer-facing business. It is the time when customers are on a spending spree because of the festive season of Diwali and Christmas. <br /><br />However, the decline in JustDial’s operating revenue came as a surprise, especially when the company seems to offer every service that can be sold online. The stock was down over 3% on January 19, the first trading day after the earnings were reported.<br />        <div type="image" title="JustDial can’t beat Google and it should stop trying to, say analysts" msid="89011002" hostid="261"></div><br />From food to flight tickets, from delivery services to at-home beauty services, you name it and JustDial would have a seller on its platform. Yet, the revenue declined. <br /><br />Market watchers say, being a jack of all trades may not be working well for this 26-year-old company. Neha Khanna, director at Value Prolific (ValPro) Capital, tells Business Insider that JustDial has spread itself too thin and it has made it susceptible to competition from all sides.<br />        <div type="image" title="JustDial can’t beat Google and it should stop trying to, say analysts" msid="89010548" hostid="261"></div><br />JustDial — which offers at least 14 different services — is currently in competition with all the big newage digital businesses one can think of. <br /><br />Few examples include Paytm, BharatPe, Google Pay, PhonePe and others for its payments/fintech business, BigBasket for its grocery delivery business, Zomato and Swiggy for food delivery business, and Urban Company for at-home services vertical.<br />        <div type="image" title="JustDial can’t beat Google and it should stop trying to, say analysts" msid="89013326" hostid="261"></div><br />This stands true that JustDial is a discovery business, therefore, it simply has to sign up vendors/professionals willing to offer the service. It is still not doing the company any favour. <br /><br />“Google has taken away their core offering [of services discovery], and other players are emerging much stronger in different verticals,” Khanna says while explaining the knots in JustDial’s business. <br /><br />Yash Gupta, Equity Research Analyst at AngelOne, tells Business Insider that the nominal decline in JustDial’s business in the third quarter could also be attributed to the recent<a href="https://www.businessinsider.in/business/corporates/news/just-dial-share-price-surge-as-mukesh-ambani-is-looking-to-buy-just-dial/articleshow/84432450.cms"> management change</a> after the Reliance Retail acquisition. There is usually a dull period for the stock due to cleaning of the balance sheet, he notes. <br /><br />But that could only be a part of the reason. Gupta explains that JustDial is a ‘pull’ sort of business model, where they need to go to customers and get them to start paying for its services. Meanwhile, other companies — such as Zomato, Swiggy, and even Google — where customers come on their own. This becomes the first challenge for the company. <br /><br />Secondly, the failure of JD Mart — the business-to-business (B2B) ecommerce marketplace of JustDial — to do anything substantial in the three quarters has further disappointed the people who keep track of this space, Gupta added. <br /><br />JD Mart competes with IndiaMart, which has been <a href="https://www.businessinsider.in/stock-market/news/indiamart-share-price-has-gone-up-five-times-in-just-the-last-18-months-here-is-why/articleshow/86058084.cms">reporting higher revenue </a>than JustDial for the past two years by focusing on B2B ecommerce. <br /><br />The crux of all these problems is over-diversification that prevents it from going big in one segment, Gupta says. They would have done much better if they focused on one vertical, he adds. <br /><strong><br /><strong>ALSO WATCH: A ₹3,000 crore fund manager says even conglomerates in India struggle the moment they have more than two verticals ⁠</strong>⁠</strong><br />        <div type="Youtube" id="kSf5f3gXjKg" title="A ₹3,000-crore fund manager explains why he won&amp;#39;t buy RIL, why he sold ITC and bought HDFC Life" thumbUrl="https://i.ytimg.com/vi/kSf5f3gXjKg/mqdefault.jpg"></div><br />The common thread running in what both Valpro and AngelOne analysts are saying is the fact that both have not been able to figure out why Reliance decided to acquire JustDial. “I don’t really see any value proposition for Reliance in JustDial,'' says ValPro’s Khanna. <br /><br />Things can become clear one Reliance unfolds its plan for JustDial, AngelOne’s Gupta adds.<br />        <strong><div type="image" title="JustDial can’t beat Google and it should stop trying to, say analysts" msid="89013331" hostid="261"></div><br />SEE ALSO<br /><a href="https://www.businessinsider.in/business/startups/news/cred-expands-esops-pool-to-500-million-employees-can-own-12-5-of-fintech-startup/articleshow/89010053.cms">CRED says that all its employees get stock options, expands pool to $500 million</a><br /><strong><a href="https://www.businessinsider.in/stock-market/news/hul-bajaj-auto-lampt-infotech-and-other-hot-stocks-on-january-20/slidelist/89008387.cms">HUL, Bajaj Auto, L&amp;T Infotech and other hot stocks on January 20</a><br /><a href="https://www.businessinsider.in/india/news/indias-daily-covid-19-count-surpasses-three-lakh-after-eight-months/articleshow/89009476.cms">India’s daily COVID-19 count surpasses three lakh after eight months, Omicron tally climbs to 9,287</a></strong></strong><br />

JustDial can’t beat Google and it should stop trying to, say analysts

<ul class="summary-list"><li><keyword id="18059" type="PERSON" weightage="60" keywordseo="Eggs">Eggs</keyword> aren't necessarily bad for <keyword id="32472" type="PERSON" weightage="60" keywordseo="cholesterol">cholesterol</keyword>, even though they contain a lot of dietary cholesterol. </li><li>Eggs are often paired with <keyword id="65553" type="PERSON" weightage="60" keywordseo="Bacon">bacon</keyword>, sausage, and buttered toast in American diets, and these saturated and trans fat are much more likely to <a href="https://www.insider.com/what-causes-high-cholesterol">cause high cholesterol</a>. </li><li>In fact, research has found that eating one egg per day does not increase the risk of cardiovascular disease. </li><li><strong>This article was reviewed by <a href="https://newyorkcardiac.com/dr-steven-reisman-cardiologist-nyc" target="_blank" rel="noopener">Steven Reisman, MD,</a> a cardiologist and the director of the <a href="https://newyorkcardiac.com/" target="_blank" rel="noopener">New York Cardiac Diagnostic Center.</a> </strong></li></ul><p>The food you eat plays an important role in your <keyword id="612120" type="ORGANIZATION" weightage="60" keywordseo="Heart-health">heart health</keyword>. Certain foods can contribute to plaque buildup in your arteries, causing <a href="https://www.nhlbi.nih.gov/health-topics/atherosclerosis">atherosclerosis</a> and potentially leading to <a href="https://www.insider.com/what-causes-high-cholesterol">high cholesterol</a> or serious heart problems. </p><p>While it's common to limit foods that are high in cholesterol  — like eggs — foods high in saturated and trans fat may actually be worse for your arteries. Here's what you need to know. </p><h2><strong>Eggs aren't necessarily bad for cholesterol </strong></h2><p>According to <a href="https://www.eatrightpro.org/media/meet-our-spokespeople/spokespeople/sonya-angelone-ms-rdn-clt">Sonya Angelone</a>, a nutrition consultant for the Academy of Nutrition and Dietetics, eggs are the most concentrated source of dietary cholesterol in our diets. There's about <a href="https://fdc.nal.usda.gov/fdc-app.html#/?query=ndbNumber:1132">186 milligrams</a> of cholesterol in one egg — all of which is concentrated in the yolk. </p><p>But in 2013, the American Heart Association and American College of Cardiology <a href="https://www.heart.org/en/news/2018/05/01/new-federal-guidelines-may-lift-dietary-cholesterol-limits">couldn't find</a> convincing scientific evidence that limiting dietary cholesterol had an effect on <a href="https://www.insider.com/what-is-good-cholesterol">"bad" cholesterol</a> in the arteries. The <a href="https://health.gov/dietaryguidelines/2015/guidelines/">Dietary Guidelines for Americans</a> even lifted its cholesterol recommendation of 300 milligrams per day in 2015, saying it didn't have enough information to set a limit.</p><p>In fact, a 2020 study in the <a href="https://www.bmj.com/content/bmj/368/bmj.m513.full.pdf">British Medical Journal</a> found that people who ate about one egg per day were no more likely to develop coronary artery disease or stroke than people who didn't eat eggs. Commenting on the study, dietitian Carrie Ruxton, PhD, noted that eggs don't present a risk to blood cholesterol levels. </p><p>What experts have come to discover is that saturated and trans fats may contribute more to cholesterol levels compared to how much cholesterol you eat. That's because most of your cholesterol — about 80% — is produced in the body, according to <a href="https://www.health.harvard.edu/heart-health/how-its-made-cholesterol-production-in-your-body">Harvard Medical School</a>. Your liver converts saturated and trans fats into cholesterol, which has led <a href="https://www.washingtonpost.com/news/wonk/wp/2015/02/10/feds-poised-to-withdraw-longstanding-warnings-about-dietary-cholesterol/?arc404=true">nutritionists</a> to believe that those fats are actually worse for you than dietary cholesterol. </p><p>Typical breakfast and brunch menus often pair eggs with bacon, sausage, and buttered toast. Many of those foods are high in saturated or trans fats, Angelone notes. So even if eggs aren't doing too much to raise your cholesterol, your side dishes might be taking a toll on your <keyword id="6354750" type="UNKNOWN" weightage="100" keywordseo="health">health</keyword>. </p><p>"Even if you don't eat cholesterol, it can still increase if your diet is high in saturated fat or trans fats," Angelone says. </p><h2><strong>A well-balanced diet is more important to manage high cholesterol </strong></h2><p>The US Dietary Guidelines include eggs in the same category with meats and poultry, recommending a total of <a href="https://health.gov/dietaryguidelines/2015/guidelines/appendix-3/">26 ounces</a> per week for a 2,000 calorie per day diet. For reference, one large egg is measured at about <a href="https://www.fsis.usda.gov/wps/portal/fsis/topics/food-safety-education/get-answers/food-safety-fact-sheets/egg-products-preparation/shell-eggs-from-farm-to-table/#17">2 ounces</a>, according to the United States Department of Agriculture. </p><p>Eggs can fit into a healthy diet, Angelone says, and sticking to around four per week is a good idea. In fact, eggs are a staple of the <a href="https://www.insider.com/mediterranean-diet-best-breakfast-food-2019-1#eggs-are-the-ultimate-mediterranean-breakfast-bite-5">Mediterranean diet</a>, which some dietitians believe is one of the <a href="https://insider.com/what-is-mediterranean-diet">healthiest eating plans</a>.  </p><p>While egg whites can also be a great low-cholesterol alternative, egg yolks are a good source of <a href="https://ods.od.nih.gov/factsheets/Choline-HealthProfessional/">choline</a> — an essential nutrient which Angelone says tends to be low in our diets. If you're concerned about high cholesterol, you should talk with your doctor about the best diet for you. </p><p>According to a 2015 <a href="https://www.ncbi.nlm.nih.gov/pubmed/26404366">review</a> in the journal <em>Nutrients,</em> any debate over eggs is misguided. The study authors write that "an approach focused on a person's entire dietary intake as opposed to specific foods or nutrients should be the heart of population nutrition guidelines." </p><p>Overall, the rest of your food intake should ultimately include vegetables, fruits, and legumes — while limiting overly processed foods, refined grains, and sugar. A <a href="https://www.insider.com/how-to-lower-cholesterol">well-balanced diet</a> is one of the best ways to keep your cholesterol under control and avoid heart disease or stroke. </p><p>"Heart disease is not just about how many eggs you eat," Angelone says. "A good diet has to include healthful foods and limit unhealthy foods." </p><h1>Related stories about <a href="https://www.insider.com/category/heart-health" target="_blank" rel="noopener">heart health</a>:</h1><ul><li><strong><a href="https://www.insider.com/how-to-calculate-total-cholesterol">How to calculate total cholesterol and what it means for you</a></strong></li><li><strong><a href="https://www.insider.com/what-causes-high-cholesterol">What causes high cholesterol? Dairy, smoking, genetics, and more</a></strong></li><li><strong><a href="https://www.insider.com/how-to-lower-cholesterol">How to lower cholesterol with the right diet and exercise regimens</a></strong></li><li><strong><a href="https://www.insider.com/how-to-prevent-heart-attack" target="_blank" rel="noopener">How to prevent a heart attack the first time and from happening again</a></strong></li><li><strong><a href="https://www.insider.com/how-to-lower-triglycerides">How to lower triglycerides with lifestyle changes and medication</a></strong></li><li><strong><a href="https://www.insider.com/what-is-good-cholesterol">What is good cholesterol? The difference between HDL and LDL cholesterol</a></strong></li><li><strong><a href="https://www.insider.com/is-high-cholesterol-genetic">Is high cholesterol genetic? What is familial hypercholesterolemia</a></strong></li></ul>

Eggs and cholesterol: Why you shouldn't worry about having eggs for breakfast

<ul><li><keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>’s IPO will open for subscription on Monday, seeking a valuation of $19.3-19.9 billion.</li><li>The price band has been set at ₹2,080-₹2,150 per share, with a lot size of 6 shares.</li><li>Marwadi Financial Services believes that the valuation is too demanding for a loss making company.</li><li>Angel One notes that Paytm is well positioned to gain from growth of digital payments and its valuation is justified.</li></ul>One 97 Communications — the parent company of digital payments giant Paytm — will launch its ₹18,300 crore ($2.4 billion) initial public offering (IPO) on Monday, at a price band of ₹2,080-₹2,150 per share. <br /><br />The lot size has been set at six shares, which means that a lot would cost ₹12,900 at the upper price band. The IPO will close for subscription on Wednesday, November 10, and the allotment will be announced on November 15. <br /><br />The listing date has been set at November 18. <br /><br />Paytm is seeking a valuation of $19.3-$19.9 billion with this IPO, which has not gone down well with several stock brokerages and this has reflected in their recommendations for this IPO as well. While AngelOne has given a blanket subscribe call for this billion dollar IPO, KR Choksey and Arihant Capital Markets have noted that the IPO can be subscribed for listing gains.<br /><br /><table class="redcator-table-advance" style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock Brokerages<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendations <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">KR Choksey<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for listing gains “only”<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AngelOne<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marwadi Financial Services<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Avoid<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Arihant Capital Markets<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for listing gains<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AnandRathi</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe Long Terms</td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Securities</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe</td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Canara Bank Securities</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term</td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br />Earlier, Valuation guru Aswath Damodaran, a professor at New York University’s Stern School of Business — who valued <keyword id="181441" type="General" weightage="20" keywordseo="one97-communications" source="Orion">One97 Communications</keyword> at $20 billion in October 2021 — had noted that Paytm cannot be a passive buy and hold investment but would require more “active engagement and monitoring” of the company’s actions and performance. <br /><br />“...This is the type of stock that you would put 5%, or perhaps 10% of your portfolio in, not 25% or 40%,” he said in a<a href="https://aswathdamodaran.blogspot.com/"> blog post</a>.<br /><br /><strong>Watch More: </strong>Here's what analysts have to say about India's biggest IPO by Paytm<br />                <div type="Video" msid="87591265" hostid="261" title="Here’s what analysts have to say about India’s biggest IPO by Paytm" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=87591265"></div><br /><strong>The valuation seems too demanding for some<br /></strong><br />Marwadi Financial Services has noted that Paytm is at a great risk if the company fails to retain its customers, attract new customers, increase the volume of transactions from consumers and fail to maintain or improve its technology infrastructure.<br /><br />These risks — which were also mentioned in Paytm’s red herring prospectus (RHP) — have the potential to harm the company’s business, revenue, profitability and growth. <br /><br />Meanwhile, a KRChoskey report highlighted that there are two challenges ahead of Paytm's profitability — achieving a steady ‘take rate’ and keeping the customer and marketing costs low.<br /><br />A take rate is the fee charged by a marketplace on a transaction performed by a third-party seller or service provider.<br /><br />"In the last 5 years the company has focused on acquiring customers and increasing transactions both in value and volume terms. As a result, [the] take rate dropped from 2.18% in FY2017 to 0.79% in FY2021. Globally, if we look at the take rate, which more established payment services providers are able to achieve is in the region of 1.2% to 1.8%," the KRChoksey report added.<br /><br />Marwadi Financial Services have recommended investors to “avoid” Paytm’s IPO as the valuation is too demanding for a loss-making company.<br /><br />Jyoti Roy, deputy vice president of equity strategist at Angel One, has a different way of looking at it. He noted that the valuation does appear to be expensive, but Paytm brand has become synonymous with digital payments and is the market leader in the mobile payment space.<br /><br />“Paytm is well positioned to benefit from the exponential 5x [times] growth in mobile payments between FY2021 – FY2026 and hence believe that the valuations are justified,” he noted, adding that Paytm is valued at 49.7 times its FY21 revenues at the upper end of the price band.<br /><br />                                    <div type="image" title="Looking to subscribe to Paytm’s IPO? Brokerage firms are not fully convinced" msid="87578251" hostid="261"></div><br /><strong>Revenue not an issue, but profitability is<br /></strong><br />KRChoksey believes that Paytm will have to be on a high growth trajectory in revenue terms for a period of three years in order to sustain its current valuation. All of its three verticals — payments, financial services as well as cloud and commerce — will have to keep firing at an accelerated pace. <br /><br />“Looking at the past track record, we are reasonably confident that management will leave no stone unturned to achieve this. What remains to be seen is how this growth can be achieved without burning too much of cash,” the brokerage added.<br /><br />Arihant Capital Markets, on the other hand, noted that Paytm’s history of loss and negative cash flows in prior years have raised questions about its ability to turn profitable.<br /><br />A report by Reliance Securities added, "Paytm’s financial performance has not been encouraging over the years, with the company continuing to record an EBITDA loss and net loss. However, it has been witnessing an improvement in financial performance, with a continued fall in operating losses and net loss, mainly led by the contraction in marketing &amp; promotional expenses."<br /><br /><strong>WATCH ALSO:</strong> ‘Have seen an IPO season like no other’, Radhika Gupta and Nalin Moniz on flurry of IPOs this season<br />                                            <div type="Video" msid="87579539" hostid="261" title="‘Have seen an IPO season like no other’, Radhika Gupta and Nalin Moniz on flurry of IPOs this season" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=87579539"></div><br /><br /><strong>SEE ALSO</strong><br /><a href="https://www.businessinsider.in/business/startups/news/how-to-subscribe-to-paytm-ipo-on-zerodha-paytm-money-banks/articleshow/87510232.cms" data-type="tilCustomLink">Paytm IPO will open today — here is how to apply via bank and apps like Zerodha, Paytm Money</a><br /><a href="https://www.businessinsider.in/stock-market/news/fino-payments-bank-ipo-allotment-is-tomorrow-november-9/articleshow/87577397.cms" data-type="tilCustomLink">Fino Payments Bank IPO allotment tomorrow, investors had oversubscribed by over 2 times</a><br /><a href="https://www.businessinsider.in/tech/news/why-netflix-games-on-ios-could-be-slightly-different-than-android/articleshow/87577781.cms" data-type="tilCustomLink">Netflix games on iOS could be slightly different than Android, here’s why</a><br />

India's biggest IPO is here — here's what analysts have to say

<ul><li>Logistics and supply chain company <keyword id="11931339" type="General" weightage="20" keywordseo="delhivery" source="Orion">Delhivery</keyword> is all set to go for an IPO next week in order to raise ₹5,235 crore.</li><li>The company had initially planned to raise ₹7,460 crore, but decided to reduce the issue size by a third.</li><li>The company now plans to raise ₹4,000 crore through fresh issue and ₹1,235 crore as an offer for sale (OfS).</li></ul>Logistics and supply chain company Delhivery is all set to go for an initial public offering (IPO) next week to raise ₹5,235 crore. The company had initially planned to raise ₹7,460 crore, but decided to reduce the issue size by a third.<br /><br />The cut in the pub<keyword id="6367143" type="General" weightage="20" keywordseo="lic" source="Orion">lic</keyword> issue comes amid volatile equity market conditions and the ongoing Life Insurance Corporation (LIC) IPO, which is the biggest public issue in the country.<br /><br />Delhivery, in its press conference held on May 5, noted that existing shareholders in the company believed the valuation was attractive and wanted to be a part of the company for a bit longer. Meanwhile, the company realized that it only needed ₹4,000 crore in order to fund its acquisitions and expansion plans.<br /><br />However, experts believe there was no other way around this. <br /><br />Yash Gupta, equity research analyst at AngelOne, told Business Insider that Delhivery and its shareholders made the right call as the ongoing ₹21,000 crore <keyword id="7922409" type="General" weightage="20" keywordseo="lic-ipo" source="Orion">LIC IPO</keyword> would eat into the liquidity of the investors.<br /><br />Besides, it would also increase the cash reserve ratio (CRR) required by the Reserve Bank of India (RBI), the central bank of India.<br /><br />“It will be difficult to predict the scenarios [if Delhivery went ahead with ₹7,460 crore IPO] but as the IPO size increases we have seen that it becomes difficult for the companies to get subscriptions and liquidity in the market will be more after listing. So we believe that it is a good decision by the company to decrease the overall issue size,” Gupta added.<br /><br />The company now plans to raise ₹4,000 crore through fresh issue and ₹1,235 crore as an offer for sale (OFS). The capital raised in a fresh issue is directly raised by the company, whereas the amount raised by offer for sale (OFS) goes to the shareholders selling their shares in the company. In this case, the OFS would go to Carlyle, Japanese Softbank, Fosun group-owned China Momentum Fund and Times Internet.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Initial Target<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Final Offer<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fresh Issue<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,000 crore ($655 million)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,000 crore ($525 million)<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Offer for Sale<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,460 crore ($322.5 million)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,235 crore ($162 million)<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7,460 crore ($977 million)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,235 crore ($686 million)<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody></table><br />Kotak Mahindra Capital’s whole-time director V Jayasankar, on behalf of Delhivery, noted that the persistent volatility in global financial markets has made the current market situation challenging, but Delhivery’s IPO will sail through as it has been “attractively priced”. <br /><br />“There have been only three tech IPOs and the fact that Delhivery is growing and doing a very large solid million dollar transaction is a testimony to the quality of the company that’s been built. You will very shortly see on the tenth of May when the anchor investor book closes,” he said.<br /><br />“The breadth and the depth of participation both from foreign institutional investors as well as domestic institutional investors And that is to put into context what is the market environment or ecosystem that we see,” Jayasankar explained further.<br /><br />Kotak Mahindra Capital, Morgan Stanley India, Bofa Securities India, and Citigroup Global Markets are managing the share sale.<br /><strong><br />SEE ALSO</strong><br /><a class="tout-title-link" href="https://www.businessinsider.in/tech/enterprise/news/cognizants-latest-earnings-have-a-silver-lining-for-indian-it-majors-tcs-infosys-and-wipro/articleshow/91334290.cms">Cognizant’s latest earnings have a silver lining for Indian IT majors TCS, Infosys and Wipro</a><br /><a href="https://www.businessinsider.in/stock-market/news/lic-ipo-sees-poor-demand-due-weak-market-conditions-and-rbis-sudden-rate-hike-say-analysts/articleshow/91338105.cms">LIC IPO sees poor demand due weak market conditions and RBI’s sudden rate hike, say analysts</a><br /><a href="https://www.businessinsider.in/stock-market/news/lic-ipo-was-subscribed-by-45-investors-under-30-says-paytm-money/slidelist/91338395.cms" data-type="tilCustomLink">LIC IPO Day 1 — one out of every third applicant was a new investor, reveals Paytm Money</a><br />

Delhivery IPO size cut down by a third due to market volatility and LIC IPO, say analysts

<ul><li><keyword id="3489555" type="General" weightage="20" keywordseo="upstox" source="Orion">Upstox</keyword> has raised $25 million from Tiger Global, at a valuation of $3.4 billion.</li><li>Upstox is the 40th startup to enter India’s unicorn club, and the seventh startup this month.</li><li>The company, run by RKSV Securities, claims to have 6 million users registered on the platform.</li></ul>Online investment platform Upstox is now valued more than its rivals <keyword id="759851" type="General" weightage="20" keywordseo="zerodha" source="Orion">Zerodha</keyword> and <keyword id="6189412" type="General" weightage="20" keywordseo="groww" source="Orion">Groww</keyword>. The company has raised $25 million from US-based Tiger Global, at a valuation of $3.4 billion. <br /><br />According to filings with the Ministry of Corporate Affairs, Upstox has approved the allotment of 18,671 Series C shares to Tiger Global at an issue price of ₹98,608 to raise ₹185 crore ($25 million).<br /><br />This development was first <a href="https://entrackr.com/2021/11/exclusive-upstox-turns-unicorn-with-fresh-round-from-tiger-global/">reported</a> by Entrackr.<br /><br />Business Insider’s sources have confirmed the valuation of this round, highlighting that this investment is part of a larger round. <br /><br />Upstox is the 40th startup to enter the unicorn club. It is also the seventh company to hit that milestone this month. Others include the Good Glamm Group, Curefit, Mensa Brands, No Broker and Spinny. <br /><br />A unicorn, in startup parlance, is a company valued more than a billion dollars. <br /><br />Upstox was founded by Ravi Kumar, Kavitha Subramanian and Shrini Viswanath in 2008. The company started off as a proprietary trading firm RKSV Securities, but ventured into retail brokerage with the launch of Upstox in 2012. It offers online stock market investment services, advisory services, mutual fund investments and more.<br /><br />The company, run by RKSV Securities, claims to have 6 million users registered on the platform. <br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Players<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Users<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Upstox<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 million<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zerodha<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 million<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AngelOne<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.12 million<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Groww<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 million<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Media reports<br /><br />Last month, Groww had raised <a href="https://www.businessinsider.in/business/startups/news/loss-making-groww-is-now-the-most-valued-investment-platform-even-though-some-of-its-peers-make-profits/articleshow/87249142.cms"> $251 million at a valuation of $3 billion</a>. <br /><br />Zerodha, which has never raised any capital from private investors, valued itself at $2 billion earlier this year in order to buy back employee stocks and give them returns.<br /><br />Nithin Kamath, the co-founder and chief executive officer (CEO) of Zerodha, believes that the valuation it has accorded to itself could be conservative. Hurun had valued Zerodha at<a href="https://www.businessinsider.in/business/startups/news/zerodha-valued-itself-at-1-billion-hurun-unicorn-startups-list-bumps-it-up-to-3-billion-but-founder-says-valuation-doesnt-matter/amp_articleshow/77347721.cms?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts"> $3 billion in 2020</a>.<br /><br />Upstox hit profitability in the financial year 2019, but reported a loss of ₹37.99 crore in FY20 after a profitable run for two years. Rata Tata-backed Upstox has two subsidiaries —  RKSV Securities and RKSV Commodities, with RKSV Securities being the bigger one.<br /><strong><br />SEE ALSO<br /></strong><a href="https://www.businessinsider.in/business/startups/news/interview-these-former-isro-scientists-are-hoping-for-the-biggest-ever-funding-in-the-indian-spacetech-industry/articleshow/87911503.cms" data-type="tilCustomLink">INTERVIEW: These former ISRO scientists are hoping for the biggest-ever funding in the Indian spacetech industry</a><br /><br /><a href="https://www.businessinsider.in/india/news/earthquake-of-6-1-magnitude-hits-india-myanmar-border-region/articleshow/87922521.cms" data-type="tilCustomLink">Earthquake of 6.1 magnitude hits India-Myanmar border region</a><br /><br /><a href="https://www.businessinsider.in/science/news/scientists-are-closely-tracking-a-covid-19-variant-with-a-worrying-number-of-mutations-they-dont-yet-know-if-its-more-infectious-/articleshow/87916195.cms" data-type="tilCustomLink">Scientists are closely tracking a coronavirus variant with a 'worrying' number of mutations. They don't yet know if it's more infectious.</a><br />

Ratan Tata-backed Upstox is now valued more than its rivals Zerodha and Groww

<ul class="summary-list"><li>The best diet for GERD includes alkaline foods like bananas and cauliflower.</li><li>An eating plan like the <a href="https://www.insider.com/what-is-mediterranean-diet#:~:text=It%20is%20based%20on%20the,allows%20for%20moderate%20wine%20consumption." target="_blank" rel="noopener">Mediterranian Diet</a> has also been found to benefit people with GERD.</li><li>You should also be sure to avoid carbohydrates, spicy foods, and fatty foods.</li><li><strong>This article was <a href="https://www.insider.com/insider-medical-review-board" target="_blank" rel="noopener">medically reviewed</a> by <a href="https://www.memorialcare.org/providers/atif-iqbal" target="_blank" rel="noopener">Atif Iqbal</a>, MD, FACS, FASMBS, board-certified general surgeon and medical director of the Digestive Care Center at MemorialCare Orange Coast Medical Center in Fountain Valley, California.</strong></li></ul><p>Gastroesophageal reflux disease (GERD) is a condition defined by having persistent and frequent bouts of <keyword id="75428" type="PERSON" weightage="60" keywordseo="acid-reflux">acid reflux</keyword>. The condition is common and affects about <a href="https://www.niddk.nih.gov/health-information/digestive-diseases/acid-reflux-ger-gerd-adults/definition-facts#:~:text=GERD%20affects%20about%2020%20percent%20of%20the%20U.S.%20population.">20%</a> of Americans. Though these episodes can be uncomfortable, changing your diet can help ease some of the most troublesome symptoms. </p><p>Normally, the lower esophageal sphincter (LES), a valve that connects your stomach and throat, , closes while you are not swallowing. This keeps the contents of your stomach from moving back up your esophagus. </p><p>However, in those with GERD, the LES frequently relaxes and opens up, even when you aren't swallowing. This allows  the flow of stomach acid, digestive enzymes, and other stomach contents to come back up — leading to poor digestion and acid reflux  </p><p>If you are experiencing severe GERD symptoms, a doctor may prescribe you <a href="https://www.mayoclinic.org/diseases-conditions/gerd/diagnosis-treatment/drc-20361959#:~:text=These%20include%20esomeprazole%20(Nexium)%2C,and%20vitamin%20B%2D12%20deficiency." target="_blank" rel="noopener">medication</a>, but making changes to your diet is an important step in controlling GERD. </p><h2>Foods to avoid</h2><p>One of the first suggestions doctors will make for managing GERD symptoms is a change in diet. </p><p>While there are a number of potential trigger foods, and they can be highly individualized, here are a few common culprits:</p><h3>Fatty foods</h3><p>High-fat foods, like fried or greasy foods, have been linked to increased GERD symptoms. Studies have found that consuming high-fat foods <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2639970/" target="_blank" rel="noopener">decreases the pressure</a> of the LES, causing it to relax and open up more often. A relaxed LES means that stomach acid can flow upwards into your esophagus, causing acid reflux.</p><p>Consuming fatty foods also delays the <a href="https://childrenswi.org/medical-care/gastroenterology-liver-and-nutrition-program/conditions/gastroparesis-and-delayed-gastric-emptying" target="_blank" rel="noopener">emptying of the stomach</a>, meaning food sits in the stomach longer before moving to the next stage of digestion. When food remains in the stomach for long periods of time, you are more likely to experience GERD symptoms. </p><p>Fatty foods that may cause acid reflux include: </p><ul><li>Processed meats</li><li>Fast food</li><li>Processed snacks</li><li>Sweets</li></ul><h3>Carbohydrates</h3><p>According to a 2019 study  published in the <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6702398/" target="_blank" rel="noopener">Journal of Thoracic Disease</a>, carbohydrates are particularly bad for GERD. </p><p>This is because certain starches and carbohydrates are only partially absorbed by the small intestine. As a result, they move into the large intestine, where they will be fermented by bacteria in the colon. This fermentation process releases <a href="https://www.gastrojournal.org/article/S0016-5085(03)00073-8/fulltext" target="_blank" rel="noopener">various neurohormones</a> that have been linked to the relaxation of the LES, which can lead to <keyword id="67555" type="ENTERTAINMENT" weightage="60" keywordseo="Heartburn">heartburn</keyword> symptoms.</p><p>Some examples of carbohydrates you should avoid are:</p><ul><li>Potatoes</li><li>Wheat</li><li>Corn</li></ul><h3>Spicy foods</h3><p>While <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6702398/">spicy food</a>, like hot curries or anything with hot peppers, doesn't affect the LES in the way that other foods do, many patients with GERD are recommended to cut spicy foods out of their diet. </p><p>That's because those hot spices can irritate the lining of the esophagus, which can mimic the symptoms of acid reflux. For those experiencing discomfort, reducing how much spicy food you eat may help reduce symptoms. </p><h2>Foods that may help reduce acid reflux</h2><p>To manage acid reflux, you need to do more than just eliminate foods from your diet. There are also other foods and herbs you can add to your diet to help. </p><h3>Alkaline foods</h3><p>All foods fall on a pH scale. Foods with lower pH levels are more acidic, and those with higher pH levels are more alkaline. </p><p>For people with GERD, acidic foods like citrus fruits or soft drinks have been shown to increase the acidity in the stomach, therefore increasing GERD symptoms. A<a href="https://www.hopkinsmedicine.org/health/wellness-and-prevention/gerd-diet-foods-that-help-with-acid-reflux-heartburn" target="_blank" rel="noopener">lkaline foods can offset some of the acidity</a> by neutralizing the acid.</p><p>Some examples of very alkaline foods are: </p><ul><li>Bananas have a pH of 4.5-5.2 </li><li>Cauliflower have a pH of 6.0-7.0 </li><li>Fennel have a pH of 7.2-7.4</li><li>Nuts have a pH of 6.0-6.9 </li></ul><h3>The Mediterranean diet</h3><p><a href="https://www.insider.com/what-is-mediterranean-diet#:~:text=It%20is%20based%20on%20the,allows%20for%20moderate%20wine%20consumption." target="_blank" rel="noopener">The Mediterranian diet,</a> an eating plan that consists of mostly vegetables and limited animal products, has been found to help reduce GERD symptoms, according to a study published in 2017 in <a href="https://jamanetwork.com/journals/jamaotolaryngology/fullarticle/2652893" target="_blank" rel="noopener">JAMA Otolaryngology Head &amp; Neck Surgery</a>.  </p><p>The study compared the symptoms of 85 GERD patients who were prescribed proton pump inhibitors, which are medications designed to reduce stomach acid, and 99 patients who altered their diet to eat a Mediterranean diet and only drink alkaline water. </p><p>The results found that the dietary changes were more effective than proton  — 62.6% of people in the Mediterannean diet group saw a reduction in acid reflux symptoms, compared to 54.1% of the group using the medication. </p><p>Some of the tenants of the Mediterranian Diet include:</p><ul><li>Eating a primarily plant-based diet</li><li>Eating whole grains</li><li>Avoiding red meat</li></ul><h3>Herbal Remedies</h3><p>"There are many herbal remedies, called demulcent herbs, that have been used to reduce acid reflux symptoms," says <a href="https://www.eatrightpro.org/media/meet-our-spokespeople/spokespeople/sonya-angelone-ms-rdn-clt" target="_blank" rel="noopener">Sonya Angelone, MS, RDN, CLT</a> who is a Registered Dietician Nutritionist at the Academy of Nutrition and Dietetics.</p><p>Demulcent herbs are recommended because they are thought to <a href="https://www.researchgate.net/publication/270840602_Herbs_for_Gastroesophageal_Reflux_Disease" target="_blank" rel="noopener">reduce inflammation</a> in the esophagus and control symptoms of GERD.</p><p>"Acid reflux is not always a condition of excess stomach acid production," says Angelone, sometimes it is an "inflammatory reaction." </p><p>Some demulcent herbs include:</p><ul><li>Licorice root  </li><li>Slippery elm bark</li><li>Marshmallow root</li><li>Gentle bitters</li></ul><p>To incorporate these into your diet, you can brew them in hot water and turn them into tea. You can drink this tea <a href="http://pennstatehershey.adam.com/content.aspx?productid=107&amp;pid=33&amp;gid=000068#:~:text=DGL%2Dlicorice%20(Glycyrrhiza%20glabra),against%20stomach%20damage%20from%20NSAIDs.0NSAIDs." target="_blank" rel="noopener">1-2 hours</a> after meals.</p><h2>Tips for managing your diet</h2><p>When you're making changes to your diet and lifestyle to prevent acid reflux, you'll want to make sure you can keep track of what is making a difference.</p><p>"Sometimes common foods are the culprit and other times it is additives or other ingredients," says Angelone. "It is important to keep a food/symptom record to look for any correlations between the consumption of any particular food or chemical and a symptom."</p><p>But diets alone are not enough to manage even infrequent acid reflux symptoms. Angelone also says certain lifestyle interventions can help, including: </p><ul><li>Don't eat for at least  3 hours before bed </li><li>Avoid large meals, especially late at night </li><li>Elevate the head of your bed at night with pillows</li><li>Eat smaller meals </li><li>Quit smoking, if needed</li><li><a href="https://www.insider.com/how-to-lose-weight">Lose weight</a>, if needed.</li></ul><p>Overall, it's best to talk to your doctor or a nutritionist to supervise changes in your diet and personalize recommendations that are best for you. </p><h2>Related articles from <a href="https://www.insider.com/health-reference" target="_blank" rel="noopener">Health Reference</a>:</h2><ul><li><strong><a href="https://www.insider.com/home-remedies-for-acid-reflux">5 of the best home remedies for acid reflux</a></strong></li><li><strong><a href="https://www.insider.com/why-am-i-so-bloated" target="_blank" rel="noopener">5 reasons why you may be bloated</a></strong></li><li><strong><a href="https://www.insider.com/natural-remedies-for-a-stomach-ache" target="_blank" rel="noopener">The best natural remedies for a stomach ache, according to a gastroenterologist</a></strong></li></ul>

The best diet for GERD: What foods to eat and avoid if you suffer from frequent acid reflux

<ul><li><keyword id="11111226" type="General" weightage="20" keywordseo="pb-fintech" source="Orion">PB Fintech</keyword> will offer its shares within a price range of ₹940-₹980 per share.</li><li>The company intends to raise ₹5,709 crore with this public issue, at a valuation of $6 billion.</li><li><keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword> will use this funding to make strategic investments and acquisitions.</li></ul>PB Fintech, the parent company of insurance selling platform PolicyBazaar and lending platform PaisaBazaar, will open its initial public offering (IPO) today at ₹940-₹980 per share. <br /><br />Those who would like to subscribe to this IPO must apply in lot sizes of 15 shares. The cost of each lot would therefore be ₹14,700 at ₹980 a share. The grey market ⁠— shares being bought and sold outside the exchanges before the IPO ⁠— are available at a premium of ₹150 a share, which could reflect in the price when the stock lists for trade on November 1.<br /><br />The company is seeking a valuation of $6 billion via this public issue ⁠and the money raised from it will be used for strategic investments, acquisitions and expansion in international markets. PB Fintech — which was <a href="https://economictimes.indiatimes.com/tech/funding/policybazaar-rejigs-cap-table-with-a-45-mn-round-at-2-4-bn-valuation/articleshow/81301551.cms">reportedly</a> valued at $2.4 billion in March 2021 when it raised $45 million from Cyrus Poonawalla Group and others — reported revenue of ₹957 crore as its losses cut down to ₹150 crore.<br /><br /><div type="Video" msid="87578802" hostid="261" title="Here's why Policybazaar founders chose to go public" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=87578802"></div><br />According to Rajiv Kapoor, vice president at Trustline Securities — which has given a neutral rating to PolicyBazaar’s IPO — the $6 billion valuation is high considering the company’s historical financial performance. <br /><br />“Considering the company’s overall business model and higher valuation, we recommend a NEUTRAL rating on the issue,” Kapoor added. But, there are others who think it’s a good investment even at this price. <br /><br />          <div type="image" title="Policybazaar IPO ⁠— the grey market is paying ₹150 a share extra to buy the shares before the IPO" msid="87454327" hostid="261"></div><br /><strong>PB Fintech’s market share is one key factor playing in favor of PolicyBazaar, PaisaBazaar</strong><br /><br />Looking past PB Fintech’s valuation, several others believe that PolicyBazaar and PaisaBazaar are operating in an underpenetrated segment of India’s digital ecosystem, which will give these companies a sort of edge. <br /><br />Jyoti Roy, DVP- Equity Strategist at Angel One Ltd, said,“The company is best placed to leverage its tech-driven business vertical to benefit from this above growth. This IPO can be subscribed for the listing gains.”<br /><br />KR Choksey echoed this in its latest report as well. The report highlighted that PolicyBazaar had 93.4% market share in India's digital insurance marketplace in the financial year 2020. This number was based on the number of policies sold.<br /><br /><strong>ALSO WATCH: </strong>True North's Haresh Chawla talk about portfolio company PolicyBazaar<br />    <div type="Video" msid="87469409" hostid="261" title="True North Co’s Haresh Chawla on Policybazaar" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=87469409"></div><br />Meanwhile, Paisabazaar had a 51.4% share in India’s digital consumer credit marketplace based on disbursals in FY2020.<br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock Brokerages<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendations<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">KR Choksey<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe, for listing gains as well as long term gains.<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AngelOne<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for listing gains<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Trustline Securities<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br />The stock brokerage firm has highlighted that PB Fintech’s leadership in the digital marketplace, strong ability to attract customers and operation in an underpenetrated space will be acting in favour of the company. Besides this, the company’s ability to retain customers and strong relationships between insurers as well as lending partners are a big plus too. <br /><br />In terms of challenges, KR Choksey, believes that the customer’s changing needs can lead to a loss of customers in the future. “If a company's insurer and lending Partners fail to offer insurance and credit products catering to the evolving needs of consumers, the company may not be able to retain existing Consumers or attract new consumers to its online platforms,” the report read.<br /><br />PB Fintech’s promoters and cofounders Yashish Dahiya and Alok Bansal have cut their offer for sale by 85-90% because of increased interest in technology IPO, according to the company’s red herring prospectus (RHP). <br /><br />Earlier, chief executive officer (CEO) Dahiya was planning to sell shares worth ₹250 crore but it was later reduced to ₹30 crore. Chief financial officer (CFO) Bansal, on the other hand, has reduced his offer for sale from ₹95 crore to ₹ 12.7 crore. The difference has been highlighted in the company’s draft red herring prospectus (DRHP) as well as RHP.<br /><br /><strong>SEE ALSO</strong><br /><br /><a href="https://www.businessinsider.in/tech/news/former-google-ceo-says-facebooks-metaverse-is-not-necessarily-the-best-thing-for-human-society-and-expresses-concerns-about-safety-of-artificial-intelligence-technology/articleshow/87440405.cms">Former Google CEO says Facebook's metaverse is 'not necessarily the best thing for human society' and expresses concerns about safety of artificial intelligence technology</a><br /><br /><a href="https://www.businessinsider.in/tech/news/india-starts-probe-into-facebooks-algorithm-seeks-info-on-moderation-process/articleshow/87326285.cms">India starts probe into Facebook’s algorithm, seeks info on moderation process</a><br /><br /><a href="https://www.businessinsider.in/tech/news/facebooks-problem-isnt-its-brand-its-mark-zuckerberg/articleshow/87396483.cms">Facebook's problem isn't its brand - it's Mark Zuckerberg</a><br />

Policybazaar IPO ⁠— the grey market is paying ₹150 a share extra to buy the shares before the IPO

<p><em><a href="https://www.businessinsider.com/insiderpicks" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://www.businessinsider.com/insiderpicks&amp;source=gmail&amp;ust=1551904003606000&amp;usg=AFQjCNGicoaJ_dTNpkDbIWqxa6BV9RjxNw">Insider Picks</a><span> </span>writes about products and services to help you navigate when shopping online. Insider Inc. receives a commission from our affiliate partners when you buy through our links, but our reporting and recommendations are always independent and objective.</em></p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://nakedwines.sjv.io/c/196318/487406/8238" target="_blank" rel="noopener"><img src="https://static-ssl.businessinsider.com/image/5be31a73beb67051cf7c9d90-1200/nwimage3.jpg" border="0" alt="NW_image_3" data-mce-source="NakedWines.com" /></a><p class="source"><span>NakedWines.com</span></p></div><p></p></div></div></p><ul class="summary-list"><li style="font-weight: 400;"><strong><a href="https://nakedwines.sjv.io/c/196318/487406/8238" target="_blank" rel="noopener">NakedWines.com</a> is a 10-year-old company that invests directly into independent winemakers to bring unique, high-end wine to consumers for cheap prices.</strong></li><li style="font-weight: 400;"><strong>You can use it as a traditional wine store and buy by the bottle, or you can become an "Angel" member and invest $40 every month into a wine bank account - which is always available for you to spend - and get perks like 40 - 60% off listed prices. </strong></li><li style="font-weight: 400;"><strong>NakedWines.com is not a subscription, but its reimagining of the wine industry makes it easier to support indie winemakers across the globe.</strong></li><li style="font-weight: 400;"><strong>I tried it and was impressed by the quality of "easy drinking" wines and their 100% satisfaction guarantee.</strong></li><li style="font-weight: 400;"><strong><a href="https://nakedwines.sjv.io/c/196318/487406/8238">Get a $100 voucher by taking a 30-second quiz here</a>. </strong></li></ul><p><span style="font-weight: 400;">If buying unique wines at wholesale prices and having them delivered to your doorstep sounds too good to be true, you should check out </span><a href="https://nakedwines.sjv.io/c/196318/487406/8238" target="_blank" rel="noopener"><span style="font-weight: 400;">NakedWines.com</span></a><span style="font-weight: 400;">. The 10-year-old company invests in 159 indie winemakers around the world and uses a lean business model to bring unique, high-end wines to market for cheap.</span></p><p><span style="font-weight: 400;">For you, NakedWines.com is a relatively inexpensive way to get good, unique wines sent to your door. For winemakers, it's kind of like a "Shark Tank" for their product: they propose a wine, it gets approved, and Naked  gives them an advance to make it happen. Part of how the company has the funds to operate this way is through over 100,000 voluntary "Angel" customers who act like investors.</span></p><p><span style="font-weight: 400;">Once accepted into the program, Angel members invest $40 every month into their Naked piggy bank. This pool of crowdfunded money helps NakedWines.com invest in its winemakers, but it's not lost to Angel members; the $40 in their piggy bank can be used on their individual wine orders whenever they like - in other words, it's pretty much like a wine bank account.</span></p><p><span style="font-weight: 400;">If all goes to plan, it's good for the company, the consumers, and the winemakers - like Carmen Stevens, South Africa's first black woman to graduate in wine-making (funded by 2,000 Angels in 5 hours).</span></p><p><span style="font-weight: 400;">You can also just buy wine directly from the site as you would anywhere else, but it's worth noting that Angel members get special perks. They save 40-60% on all their orders; get samples of other wines included in their deliveries; get a gift bottle of Angel-funded wine worth $20 or more each month they order a case of wine; get access to Angel-only wines; receive invites to Angel-only wine tastings to meet the winemakers; and get access to an Angel-only priority hotline for any needed support.</span></p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://nakedwines.sjv.io/c/196318/487406/8238" target="_blank" rel="noopener"><img src="https://static-ssl.businessinsider.com/image/5bd9e64dbeb670365d78d584-1819/11084134101526762857009048409908410379239480o.jpg" border="0" alt="11084134_10152676285700904_8409908410379239480_o" data-mce-source="Naked Wines Facebook" /></a><p class="source"><span>Naked Wines Facebook</span></p><p class="caption">Mike Paterson, an indie winemakers Naked Wines supports via "Angel" investment. Naked Wines allowed its members to vote on which of two wines Paterson was proposing making.</p></div><p></p></div></div></p><p><span style="font-weight: 400;">I'd wager most people wind up on the site thanks to a suspiciously good $100 voucher for new customers (I received one inside the box of a Bloomingdales purchase). Using the voucher, I got the </span><span style="font-weight: 400;">Discovery Case</span><span style="font-weight: 400;"> which had 12 bottles of wine across a wide spectrum of offerings from the site. With the $100 voucher - which you can also get by taking a 30-second quiz on the site - the case was $79.99, instead of its current sale price of $179.99 (it usually costs $264).</span></p><p><span style="font-weight: 400;">In person, the wines are good. I was satisfied and even a little surprised by their quality given the fact that my introduction was just $100 off lots of wine. The affordable bottles were what you'd call "easy drinking" wines - none that were bold and weird and revelatory - but perfect for casual drinking. Naked wines hit the "weekday wine" niche perfectly.</span></p><p><span style="font-weight: 400;">Shipping is also inexpensive. For orders under $100, Naked charges $10. For orders $100 and more, delivery is free - except for NJ, HI, and AK, (</span><a href="https://us.nakedwines.com/content/help-faqs.htm"><span style="font-weight: 400;">you can find rates for these states here</span></a><span style="font-weight: 400;">). Wines will be delivered in 2-6 business days (Monday-Friday or Tuesday-Saturday) during regular working hours, but make sure that there is someone over 21 years old who can sign for the package. </span></p><p><span style="font-weight: 400;">One thing I would stress is that if you have any difficulty with your shipment (carriers try three times to deliver it), or you don't like a wine, you should contact NakedWines.com for help. My experiences with them were as a consumer rather than a reporter, and I was impressed by their easygoing willingness to make sure I had a positive experience, even when it wasn't to their immediate advantage. This means that if you really hated a wine you were sent, they'll refund you. The site has a "cast-iron, no questions asked, 100% guarantee."</span></p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://nakedwines.sjv.io/c/196318/487406/8238" target="_blank" rel="noopener"><img src="https://static-ssl.businessinsider.com/image/5bd9e5819e8c53379a4d2ab3-1200/screen-shot-2018-10-31-at-11912-pm.jpg" border="0" alt="Screen Shot 2018 10 31 at 1.19.12 PM" data-mce-source="Naked Wines Instagram" /></a><p class="source"><span>Naked Wines Instagram</span></p><p class="caption">Winemaker Jen Pfeiffer showcasing her Diamond Merlot: rich and complex with plummy mulberry fruit. She recommends it with veggie lasagna or herb crumbed pork schnitzel.</p></div><p></p></div></div></p><p><span style="font-weight: 400;">But one thing that makes NakedWines.com even more appealing is that it's also pretty social. Winemakers and members interact. Winemakers get feedback directly from customers, and customers can ask them questions. Indirectly, members can rate and recommend wines to each other. </span></p><p><span style="font-weight: 400;">This communication creates a whirlpool of discovery and self-improvement, which is baked into the business from the top down to the granular level of your account; if you don't like a wine, give it a thumbs down in your Naked Me account. From then on, they'll help steer you away from wines that taste similar to the one you didn't enjoy. NakedWines.com also uses this as an indirect polling system, helping them determine which winemakers are doing the best job of making wines people really love. </span></p><p><span style="font-weight: 400;">All in all, it's good wine for an accessible price, with the opportunity to be as involved as you want to be. It's also easy to cancel right in your online account if you change your mind. If you just use Naked as a traditional consumer, it's still a cool system and prices aren't exorbitant without the discount. </span></p><h3><a href="https://nakedwines.sjv.io/c/196318/487406/8238" target="_blank" rel="noopener">Shop NakedWines.com or take a 30-second quiz to get $100 off</a></h3><figure id="img-131007" contenteditable="false" data-type="img" data-e2e-name="image-figure-image" data-media-container="image"><a href="https://www.awin1.com/cread.php?awinmid=6220&amp;awinaffid=257137&amp;p=https%3A%2F%2Fwww.etsy.com%2Flisting%2F614369680%2Fnicolas-cage-face-sequin-pillow-sequin%3Fga_order%3Dmost_relevant%26ga_search_type%3Dall%26ga_view_type%3Dgallery%26ga_search_query%3Dfunny%2520gifts%26ref%3Dsc_gallery-1-3%26plkey%3D96d2026732cac90980341fea95c86edfa9bf2d92%3A614369680" target="_blank" rel="noopener"></a></figure><p class="tagline"><a href="http://e.businessinsider.com/join/ci/insider-picks">Subscribe to our newsletter.</a><br><br>Find all the best offers at our <a href="https://coupons.businessinsider.com/">Coupons page</a>.<br><br>Disclosure: This post is brought to you by the <a href="http://www.businessinsider.com/insiderpicks">Insider Picks</a> team. We highlight products and services you might find interesting. If you buy them, we get a small share of the revenue from the sale from our commerce partners. We frequently receive products free of charge from manufacturers to test. This does not drive our decision as to whether or not a product is featured or recommended. We operate independently from our advertising sales team. We welcome your feedback. Email us at insiderpicks@businessinsider.com.</br></br></br></br></p>

This "Shark Tank" for wine uses crowdfunding from customers to support small winemakers - and makes good wine available for cheap

 <a href="https://www.awin1.com/cread.php?awinmid=17197&amp;awinaffid=257137&amp;ued=https%3A%2F%2Fus.nakedwines.com%2FAWINANGEL" target="_blank" rel="nofollow noopener nofollow"><img src="https://static-ssl.businessinsider.com/image/5e754c4c0c2a624688217d72-1000/naked wines facebook.png" alt="naked wines facebook" /></a><p class="source"><span>Naked Wines Facebook</span></p><ul class="summary-list"><li><strong>I discovered <a href="https://www.awin1.com/cread.php?awinmid=17197&amp;awinaffid=257137&amp;ued=https%3A%2F%2Fus.nakedwines.com%2FAWINANGEL" target="_blank" rel="nofollow noopener nofollow">Nakedwines.com</a> thanks to a $100-off voucher and was impressed by the quality of "easy drinking" wines, the 100% satisfaction guarantee, and the interesting way the company supports small winemakers.</strong></li><li><strong><a href="https://www.awin1.com/cread.php?awinmid=17197&amp;awinaffid=257137&amp;ued=https%3A%2F%2Fus.nakedwines.com%2FAWINANGEL" target="_blank" rel="nofollow noopener nofollow">Nakedwines.com</a> is</strong><strong> kind of like a "Shark Tank" for the wine industry where winemakers propose a wine, and once it gets approved, Nakedwines.com gives them an advance to make it and it gets sold for an affordable price on Nakedwines.com' website.</strong></li><li><strong>The way they fund the advance is through "Angel" members, aka customers who invest $40 every month into a wine bank account. This account is always available for you to spend, and you get perks including up to 60% off listed prices. </strong></li><li><strong>If you don't want to "invest," you can still buy bottles of wine like you would at a regular wine store.</strong></li><li><strong><a href="https://www.awin1.com/cread.php?awinmid=17197&amp;awinaffid=257137&amp;ued=https%3A%2F%2Fus.nakedwines.com%2FAWIN100" target="_blank" rel="nofollow noopener nofollow nofollow sponsored">Get a $100 voucher at Nakedwines.com here</a>. </strong></li><li><strong>Read more: <a href="https://www.businessinsider.com/how-to-buy-alcohol-online" target="_blank" rel="noopener">14 places to buy alcohol online - from general online liquor stores to monthly wine delivery services</a></strong></li></ul><p>If buying unique wines at wholesale prices and having them delivered to your doorstep sounds ideal, you should check out <a href="https://www.awin1.com/cread.php?awinmid=17197&amp;awinaffid=257137&amp;ued=https%3A%2F%2Fus.nakedwines.com%2FAWINANGEL" target="_blank" rel="noopener nofollow">Nakedwines.com</a>.</p><p>The 12-year-old company invests in over 150 indie winemakers around the world and uses a lean business model to bring unique, high-end wines to market for cheap.</p><p>For consumers, Nakedwines.com is a relatively inexpensive way to get good, unique wines sent to their door. For winemakers, it's kind of like a "Shark Tank" for their industry: They propose a wine, it gets approved, and Nakedwines.com gives them an advance to make it happen. Part of how the company has the funds to operate this way is through over 100,000 voluntary "Angel" customers who act as investors.</p><p>Once accepted into the program (and I'd wager every "applicant" is), Angel members invest $40 every month into their Naked Wine piggy bank. This pool of crowdfunded money helps Naked Wine invest in its winemakers, but it's also never lost to Angel members; the $40 in the virtual piggy bank can be used on their individual wine orders whenever they like - in other words, it's pretty much like a wine bank account.</p><p>If all goes to plan, it's good for the company, the consumers, and the winemakers - like <a href="https://us.nakedwines.com/producers/carmen-stevens" target="_blank" rel="nofollow noopener nofollow">Carmen Stevens</a>, reportedly South Africa's first black woman to graduate in wine-making (funded by 2,000 Angel members and $200,000 in eight hours).</p><p>To be clear, what you're getting is not a <a href="https://www.businessinsider.com/best-wine-club" target="_blank" rel="noopener">wine subscription</a>. You can just buy wine directly from the site as you would anywhere else (though you need to order six bottles to ship), but the site's Angel members get special perks. They save 40-60% on all their orders; get samples of other wines included in their deliveries; get a gift bottle of Angel-funded wine worth $20 or more each month they order a case of wine; get access to Angel-only wines; receive invites to wine tastings to meet the winemakers; and get access to an exclusive priority hotline for any needed support.</p><a href="https://www.awin1.com/cread.php?awinmid=17197&amp;awinaffid=257137&amp;ued=https%3A%2F%2Fus.nakedwines.com%2FAWINANGEL" target="_blank" rel="nofollow noopener nofollow"><img src="https://static-ssl.businessinsider.com/image/5e754cb9671de0444713ba9d-1000/image - 2020-03-20t180707878.png" alt="image   2020 03 20T180707.878" /></a><p class="source"><span>Naked Wines Facebook</span></p><p class="caption">Mike Paterson, an indie winemaker Naked Wines supports via "Angel" investment. Naked Wines allowed its members to vote on which of two wines Paterson was proposing making.</p><p>I'd wager most people wind up on the site thanks to a suspiciously generous $100 voucher for new customers (I received one inside the box of a Bloomingdale's purchase). Using the voucher, I got a Discovery Case with 12 bottles of wine across a wide spectrum of offerings from the site. With the $100 voucher - which you can also get by <a href="https://www.awin1.com/cread.php?awinmid=17197&amp;awinaffid=257137&amp;ued=https%3A%2F%2Fus.nakedwines.com%2FAWIN100" target="_blank" rel="nofollow noopener nofollow">clicking the top right-hand button that says "voucher" and entering your email</a> - the case was $79.99, instead of its current sale price of $179.99 (its traditional cost is listed at $264). </p><p>In person, the wines are good. I was satisfied and even a little surprised by their quality given the fact that my introduction was just $100 off lots of wine. The affordable bottles were what you'd call "easy drinking" wines - none that were bold and weird and revelatory - but perfect for casual drinking. Nakedwines.com hit the "weekday wine" niche perfectly.</p><p>Shipping is also inexpensive. For orders under $100, Nakedwines.com typically charges $10. For orders $100 and more, delivery is free - except for to New Jersey, Hawaii, and Alaska, (<a href="https://us.nakedwines.com/content/help-faqs.htm" target="_blank" rel="nofollow noopener nofollow nofollow">you can find rates for these states here</a>). Wines will be delivered in four-to-seven business days (Monday-Friday or Tuesday-Saturday) during regular business hours, but make sure that there is someone over 21 years old who can sign for the package.</p><p>One thing I would stress is that if you have any difficulty with your shipment, or you don't like a wine, you should contact Nakedwines.com for help. My experiences with them were as a consumer rather than a reporter, and I was impressed by their easygoing willingness to make sure I had a positive experience, even when it wasn't to their immediate advantage. This means that if you really hated a wine you were sent, they'll refund you. The site has a "cast-iron, no questions asked, 100% guarantee."</p><a href="https://www.awin1.com/cread.php?awinmid=17197&amp;awinaffid=257137&amp;ued=https%3A%2F%2Fus.nakedwines.com%2FAWINANGEL" target="_blank" rel="nofollow noopener nofollow"><img src="https://static-ssl.businessinsider.com/image/5e754c89671de0445535d414-1000/naked wines 2.png" alt="naked wines 2" /></a><p class="source"><span>Naked Wines</span></p><p class="caption">Winemaker Jen Pfeiffer showcasing her Diamond Merlot: rich and complex with plummy mulberry fruit. She recommends it with veggie lasagna or herb crumbed pork schnitzel.</p><p>But one thing that makes <a href="https://www.awin1.com/cread.php?awinmid=17197&amp;awinaffid=257137&amp;ued=https%3A%2F%2Fus.nakedwines.com%2FAWINANGEL" target="_blank" rel="nofollow noopener nofollow">Nakedwines.com</a> even more appealing is that it's also pretty social. Winemakers and members interact. Winemakers get feedback directly from customers, and customers can ask them questions. Indirectly, members can rate and recommend wines to each other. </p><p>This communication creates an optional whirlpool of discovery and self-improvement, which is baked into the business from the top down to the granular level of your account; if you don't like a wine, give it a thumbs down in your Naked Me account. From then on, they'll help steer you away from wines that taste similar to the ones you didn't enjoy. Nakedwines.com also uses this as an indirect polling system, helping them determine which winemakers are doing the best job of making wines people really love.</p><h2>The bottom line:</h2><p>All in all, it's good wine for an accessible price, with the opportunity to be as involved as you want to be. It's also easy to cancel right in your online account if you change your mind as opposed to calling or emailing customer service. If you use Naked as a casual wine drinker, you'll discover great and affordable wines (even if you don't take advantage of the $100 off coupon) through an interesting system that makes you feel more involved than just ordering another case of wine online. </p><h3><a href="https://www.awin1.com/cread.php?awinmid=17197&amp;awinaffid=257137&amp;ued=https%3A%2F%2Fus.nakedwines.com%2FAWIN100" target="_blank" rel="noopener nofollow nofollow">Shop Nakedwines.com or enter your email for a coupon for $100 off your first order</a></h3><p><a href="http://e.businessinsider.com/join/ci/insider-picks">Subscribe to our newsletter.</a><br /><br /></p><p><a href="https://www.parsintl.com/publication/business-insider/">You can purchase syndication rights to this story here.</a><br /><br />Disclosure: This post is brought to you by the <a href="https://www.businessinsider.com/shopping">Insider Reviews</a> team. We highlight products and services you might find interesting. If you buy them, we get a small share of the revenue from the sale from our commerce partners. We frequently receive products free of charge from manufacturers to test. This does not drive our decision as to whether or not a product is featured or recommended. We operate independently from our advertising sales team. We welcome your feedback. Email us at reviews@businessinsider.com.</p>

I discovered Nakedwines.com through a suspiciously generous $100-off voucher, and I'm glad I tried it- the wines are surprisingly good, and the company uses an interesting model to support small winemakers

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