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<ul><li>Ultrahuman and boAt have recently launched their <keyword id="2123001" type="General" weightage="20" keywordseo="smart-rings" source="Orion">smart rings</keyword> in India.</li><li>Noise has announced the Luna Ring, its premium <keyword id="2007826" type="General" weightage="100" keywordseo="smart-ring" source="Orion">smart ring</keyword> in the country.</li><li>Samsung is reportedly working on <keyword id="16668099" type="General" weightage="80" keywordseo="galaxy-ring" source="Orion">Galaxy Ring</keyword>, a smart ring in collaboration with Japan’s Meiko.</li><li>With increased interest among major companies, smart rings may soon become mainstream.</li></ul> <keyword id="1010975" type="General" weightage="20" keywordseo="smartwatches" source="Orion">Smartwatches</keyword> are essential devices that allow us to keep a track of several important health metrics, including heart rate and blood oxygen saturation. While smartwatches have been<a href="https://www.businessinsider.in/tech/news/india-dominates-smartwatch-market-accounts-for-over-a-quarter-of-global-sales-in-q1-2023/articleshow/100522354.cms%5d"> selling</a> like hot cakes, companies are now working on smart rings, which will be able to offer the same functionality in a smaller form-factor. While smart rings are not a new concept, the device is now coming into the limelight as major companies are looking to enter this segment. <cmsannotation type="cmsannotation" annotationid="Noise announces Luna Ring" comment="subhead" text="Noise announces Luna Ring">Noise announces Luna Ring</cmsannotation> Noise is the latest company to foray into the smart ring segment. The company has announced the Luna Ring, a premium smart ring with a titanium body. The ring is capable of tracking over 70 health metrics, include heart rate, temperature and SpO2 levels. The Luna Ring is compatible with both, Android and iOS devices and comes with a 7-day battery life. <cmsannotation type="cmsannotation" annotationid="Ultrahuman, boAt unveil their smart rings" comment="subhead" text="Ultrahuman, boAt unveil their smart rings">Ultrahuman, boAt unveil their smart rings</cmsannotation> Ultrahuman, a Bengaluru-based startup launched the Ring Air, the company’s smart ring in June 2023 and boAt recently entered the segment with the launch of the boAt Smart Ring. <cmsannotation type="cmsannotation" annotationid="Samsung is reportedly working on the Galaxy Ring" comment="subhead" text="Samsung is reportedly working on the Galaxy Ring">Samsung is reportedly working on the Galaxy Ring</cmsannotation> A Korean website, The Elec recently reported that Samsung is working on its own “Galaxy Ring”. The South Korean smartphone maker already has a popular Galaxy Watch line-up and is scheduled to launch the Galaxy Watch 6 series at its upcoming<a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-5-z-flip-5-galaxy-watch-series-6-and-more-set-to-launch-july-end/articleshow/101538049.cms"> Galaxy Unpacked</a> event on July 26. While it may be too early, Samsung may reveal some information about the Galaxy Ring at its upcoming event. Samsung has reportedly partnered with Japan’s Meiko to develop the printed circuit board (PCB) for the smart ring. Finnish health tech giant Oura is well known for its smart rings that provide continuous health monitoring and activity tracking. Oura’s Ring is currently not available in India. <cmsannotation type="cmsannotation" annotationid="How are smart rings different from smart watches?" comment="subhead" text="How are smart rings different from smart watches?">How are smart rings different from smart watches?</cmsannotation> The biggest difference between smartwatches and smart rings is the size. While smartwatches are usually the same size or even bigger than traditional watches, smart rings offer similar functionality in a compact form factor. At the same time, a smart ring misses out on a display, which allows users to get access to a lot of data by looking at their watch, without having to take out their phones. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/netweb-technologies-ipo-how-to-check-allotment-gmp-listing-date-and-more/articleshow/102068898.cms">Netweb Technologies IPO allotment – how to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/business/auto/news/the-ola-s1-air-is-the-affordable-offering-from-the-company-and-will-soon-go-on-sale-in-india/slidelist/102074223.cms">Ola S1 Air to hit Indian roads soon – price, features and everything you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-5-z-flip-5-galaxy-watch-series-6-and-more-set-to-launch-july-end/articleshow/101538049.cms">Samsung Galaxy Z Fold 5, Z Flip 5, Galaxy Watch Series 6 and more set to launch July-end</a>

Noise joins the smart rings bandwagon as a new category emerges

<ul><li>Indian consumer electronics brand <keyword id="53189" type="General" weightage="20" keywordseo="boat" source="Orion">boAt</keyword> used to make all its products in China, but the pandemic gave the startup a rude wake-up call.</li><li>Over the last one year, it has started manufacturing in Vietnam and India in order to de-risk its manufacturing.</li><li>The company is currently manufacturing about 15 of its products in India with the help of local partners.</li><li>boAt has quickly risen to capture nearly a third of the smartwatches and audio market in India, where it competes with Samsung and Apple.</li></ul>CORRECTION: An earlier version of the article had said that bulk of the company's production had moved to Vietnam and not India. However, after clarification from the company, the story has been corrected to reflect facts and data provided by the company. India will become the biggest production hub for boAt after China. Indian consumer electronics brand boAt used to make all its products in China, but the pandemic gave the New Delhi-based startup a rude wake-up call. Founder Aman Gupta had to set up alternative factories in other countries. Eighteen months later 9% of boAt’s manufacturing happens in India. India’s recently unveiled production-linked incentive (PLI) scheme is attractive, but not enough for the firm to make India its biggest production hub yet. China continues to make 90% of its production bulk, while the latest Vietnam market is adding another 1%. The company’s products were completely made in China until February 2020. In just about 5 years, the startup, whose last <a href="https://economictimes.indiatimes.com/tech/funding/qualcomm-ventures-invests-in-boat-at-estimated-valuation-of-rs-2200-crore/articleshow/82103740.cms">reported</a> valuation was ₹2,200 crore (about $300million), has quickly risen to capture nearly 30% market share in the audio segment in India ⁠— its earphones, in particular, ⁠have been popular ⁠— and nearly a third of the smart watch segment, where it competes with the likes of Samsung and Apple. <div type="image" title="INTERVIEW: This Indian challenger to Apple and Samsung explains why it chose India and Vietnam to make a bulk of its products" msid="85894605" hostid="261"></div> boAt’s chief executive (CEO) Vivek Gambhir, in a conversation with Business Insider, highlighted that it is currently manufacturing about 15 of its products in India with the help of local partners. It aims to manufacture 30-40% of its production volume in the home market, by 2024. The target could have been achieved sooner if conditions in the Indian electronics manufacturing hub were slightly better. India currently has 20% manufacturing disability compared to China and 12% manufacturing disability versus Vietnam. A manufacturing disability is defined as the difference, in percentage, in the selling price of a product and the manufacturing price. This is why boAt chose Vietnam as its second market. By 2024, the company expects the Southeast Asian country to make up for 10% of its production. Together, India and Vietnam will manufacture around 50% of boAt’s products, while China will add another 50%. boAt is not the only one one taking notice of Vietnam. The country’s rise as a major manufacturing hub for international exports in the last decade can be described as meteoric. South Korea-based electronics giant Samsung has one of its largest facilities outside its home country in Vietnam. The company assembles half of its global handsets in Vietnam and has benefited after the US-China trade war. Apple too started producing its Airpods in Vietnam last year. <div type="image" title="INTERVIEW: This Indian challenger to Apple and Samsung explains why it chose India and Vietnam to make a bulk of its products" msid="85894626" hostid="261"></div> When global companies were looking to reduce their dependence on Chinese manufacturers, India, too, saw an opportunity to lure some of them. However, as Gambhir explained, the cost of manufacturing in India has to be more competitive than it is right now. He added that while Vietnam is a better strategic location for now, compared to India, they want to be a leader in the Make-in-India campaign over the next few years. Challenges ahead of boAt to makes its Make-in-India desire a success According to the Indian Electronic System Design and Manufacturing (ESDM) Disability Identification<a href="https://home.jeita.or.jp/iad/pdf/IESA/IESA-EY%20-%20Indian%20ESDM%20Disability%20Identification%20Report%20-%20Executive%20Summary.pdf"> Study</a>, the electronic products made in India could be less competitive anywhere between 7% and 26%, depending on the nature of the product. But cost is not the only factor. The recently unveiled production-linked incentives in India, along with the import duty hikes, will bring down costs, Purnendu Kumar, practice leader of consumer and retail at consultancy Praxis Global Alliance, told Business Insider. Even if the cost is brought down, the ecosystem is yet to mature. “We are working with about five plus local partners [in India], but there's a certain amount of, you know, hand holding required to be able to actually work with them and educate them in terms of our products getting manufactured,” he added. Therefore, Vietnam is higher up the ladder for boAt at the moment, especially due to “high quality manufacturing opportunities”. The free trade agreement between India and the Southeast Asian country is another boon that reduces imports and exports barriers among the two nations. As for boAt, India will continue to be its research and development (R&amp;D) hub. It has set up a R&amp;D centre in Bengaluru earlier this year, in addition to its existing R&amp;D unit. The company also hired 30 employees in both these labs during the pandemic. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/reliance-just-dial-mahindra-and-other-hot-stocks-to-watch-out-for-on-september-3/slidelist/85886767.cms">Reliance, Just Dial, Mahindra and other hot stocks to watch out for on September 3</a> <a href="https://www.businessinsider.in/tech/news/oneplus-buds-pro-review-india/articleshow/85887425.cms">OnePlus Buds Pro Review — Love bass? Your search ends here</a> <a href="https://www.businessinsider.in/stock-market/news/vijaya-diagnostic-ipo-last-day-for-subscription-allotment-on-september-8/articleshow/85879245.cms">Vijaya Diagnostic IPO’s last day to subscribe, grey market indicates ₹15-₹20 premium</a>

INTERVIEW: This Indian challenger to Apple and Samsung explains why it chose India and Vietnam to make a bulk of its products

Ahead of Nazara Technologies’ IPO, the CEO says its public listing will put Indian gaming on the world map

<ul><li>Shares of healthcare and wellness products distributor Nureca Limited made a strong debut today on exchanges with prices listing at about 59% higher at ₹634 apiece.</li><li>The company's market value expanded to ₹665 crore after the listing.</li><li>The company, incorporated in 2016, engages in the business of home healthcare and wellness products.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>Shares of healthcare and wellness products distributor Nureca Limited made a strong debut today on exchanges with prices listing at about 59% higher at ₹634 apiece, compared to IPO issue price of ₹396-400. Within minutes after listing, the shares of Nureca gained 5% of their value and were trading at ₹666 apiece at 10:05 am in a robust market. The company's market value expanded to ₹665 crore after the listing. The company, incorporated in 2016, engages in the business of home healthcare and wellness products. It sells blood pressure monitors, pulse oximeters, thermometers, nebulisers, and self-monitoring glucose devices under the brand name Dr Trust. Nureca's asset-light business model was successful in attracting investment experts. The model allows Nureca to enter into agreements with vendors who manufacture the products as per the specifications. This allows the company to quickly scale its operations at a predetermined cost without incurring any capital expenditure on manufacturing facilities. The initial public offer of Nureca, which closed last month, was subscribed 40 times. The offer of the Nureca, which got fully subscribed on the first day itself on February 16, received bids for 5.5 crore shares against 14 lakh shares on offer. The category reserved for retail investors received the strongest response and was subscribed 166.65 times. The non-institutional investors' category was subscribed 31.59 times, and qualified institutional buyers(QIBs) was subscribed 3.10 times. Grey market premium fizzled out ahead of the listing Although the high number of subscriptions showed an excellent demand for its shares, just days ahead of the listing, the company's grey market premium fizzled nearly 50%, amid the high market volatility this week. The shares that were earlier commanding a premium of ₹150-160 were significantly down to ₹70-80 a share. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/nse-halts-trading-after-data-glitches-stop-nifty50-and-bank-nifty-from-updating/articleshow/81186539.cms">India’s largest stock exchange halts trading after data glitches stop Nifty50 and Bank Nifty from updating</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-is-putting-lane-separators-on-river-ganga-to-avoid-putting-traffic-signals-and-cops/articleshow/81202713.cms">Traffic jam on the Ganga - one of India's largest rivers will now get lane separators to deal with crowded boats</a>

Nureca stocks debut on bourses at 59% premium over IPO price

<ul><li><keyword id="125145" type="COMPANY" weightage="20" keywordseo="Nazara-Technologies">Nazara Technologies</keyword> is backed by <keyword id="6398943" type="UNKNOWN" weightage="20" keywordseo="rakesh-jhunjhunwala">Rakesh Jhunjhunwala</keyword>, one of India’s biggest stock market investors. </li><li>The gaming and sports media company is looking to join the league of tech startups looking to go public this year. These include Zomato, Nykaa, and Delhivery. </li><li>This is the second attempt at a market debut. <keyword id="242260" type="COMPANY" weightage="20" keywordseo="Nazara">Nazara</keyword> had earlier filed the DRHP in 2018 but didn't go through with its plans.</li><li>In the last two years, Nazara has made at least seven acquisitions and raised ₹500 crore in funds.</li></ul>Indian gaming and sports media company Nazara Technologies has re-filed the Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI) as the first step towards its market debut. Nazara holds the license mobile gaming rights of popular cartoon characters like Chhota Bheem, Motu Patlu and Shikari Shambhu. It has also established itself in 64 countries across Africa, Middle East, South East Asia, and the Indian subcontinent. The public issue will see a sale of 4.96 million equity shares by Nazara’s promoters and investors. This year, Nazara’s <keyword id="3128913" type="PERSON" weightage="20" keywordseo="IPO-debut">IPO debut</keyword> could kick off a series of tech IPOs in the country as startups like Zomato, Nykaa, Delhivery are headed for the public markets. The Rakesh Jhunjhunwala-backed Nazara had first filed the DRHP in January 2018 and had even got approval from SEBI for an IPO (Initial Public Offering). However it didn’t go ahead with the launch because of a <a href="https://inc42.com/buzz/post-sportskeeda-acquisition-nazara-technologies-looks-at-ipo-in-2020/">market slump. </a> The company has been preparing for its market debut with acquisitions and funding in its kitty. Strengthening its capital base Nazara counts stock broking giant Rakesh Jhunjhunwala, IIFL Asset Management, Sequoia Capital, Plutus Wealth Management as its investors. Earlier in January 2021, WestBridge Ventures, an early investor in Nazara, had exited the company through a secondary transaction as Plutus pumped in ₹500 crore into the company. According to<a href="https://yourstory.com/2021/01/ys-learn-nazara-technologies-gaming-startup-exit-westbridge-capital"> reports</a>, the exit gave WestBridge 40 times the return on its investment. Nazara’s stakeholders <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup></colgroup><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;">Promoter </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;">Stake </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;">Mitter Infotech </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;">20.57% </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;">Arpit Khandelwal </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;">12.51% </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;">Rakesh Jhunjhunwala </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;">11.38% </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;">Plutus Wealth Management LLP </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;">6.91% </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;">IIFL Special Opportunities Fund </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;">6.04% </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;">IIFL Special Opportunities Fund - Series 4 </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;">4.94% </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;">IIFL Special Opportunities Fund - Series 5 </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;">4.16% </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;">IIFL Special Opportunities Fund - Series 2 </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;">3.89% </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;">Nitish Mittersain </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;">3.49% </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;">Emerging Investment Ltd </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;">1.90% </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;">IIFL Special Opportunities Fund - Series 3 </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;">1.87% </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;">Riyaz Suterwalla </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;">1.73% </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;">Turtle Entertainment </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;">1.68% </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;">Manish Agarwal </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;">1.51% </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;">Seedfund2 International </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;">1.27% </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;">Anshu Dhanuka </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;">1.02% </td></tr></tbody></table>Source: Moneycontrol Nazara went on an acquisition spree Nazara strengthened its offerings by going on an acquisition drive. It has pumped in over $50 million in startups in the last two years. In fact, its acquisition spree even got it a ‘next Tencent’ reference in a <a href="https://economictimes.indiatimes.com/prime/technology-and-startups/nazaras-acquisitions-will-keep-it-up-to-speed-on-all-things-gaming-next-becoming-indias-tencent-/primearticleshow/79393487.cms">news report.</a> Some of Nazara’s top acquisitions <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup></colgroup><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;">Startup </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;">Sector </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;">Investment </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;">Paper Boat Apps </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;">Mumbai-based indie studio </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;">₹83.5 crore </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;">Sports Unity </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;">Creator of multiplayer quiz called Qunami </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;">₹7.5 crore </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;">Sportskeeda </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;">Sports media platform </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;">₹44 crore </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;">Bakbuck </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;">Local languages gaming platform </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;">Undisclosed </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;">Halaplay </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;">Fantasy gaming platform </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;">₹40 crore </td></tr></tbody></table> In November 2019, Nazara technologies said that it plans to invest $20 million in startups next year. This announcement was after in the same year, Nazara had already acquired five companies. “Looking at the explosive growth in the interactive entertainment and sports ecosystem, Nazara has decided to up its aggression on investing in the emerging market ecosystem and support early stage startups accelerating the growth of these companies and the industry at large,” Nazara Technologies CEO, Manish Agarwal had said then. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/indias-parliamentary-committee-summons-facebook-twitter-officials-over-misuse-of-social-media-platforms/articleshow/80321277.cms">India's parliamentary committee summons Facebook, Twitter officials over misuse of social media platforms</a>

The Rakesh Jhunjhunwala-backed Nazara Technologies is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings

<ul class="summary-list"><li><keyword id="12554546" type="UNKNOWN" weightage="60" keywordseo="underwriting" source="Orion">Underwriting</keyword> is the process of taking on risk in a financial transaction, typically a <keyword id="6360217" type="UNKNOWN" weightage="60" keywordseo="loan" source="Orion">loan</keyword>, insurance, or investments.</li><li>Underwriters assess risk, determine how much to assume, and at what price.</li><li>Underwriting helps set rates for loans, premiums for insurance policies, and the cost of risk in securities markets.</li></ul>Underwriting determines how risky a financial venture such as a loan, insurance policy, or investment is and whether to accept that risk. If the risk is considered worth taking, the underwriting process determines how much to charge."Underwriting is basically just verifying all of the information the borrower has provided on their loan application — their income, their tax returns, their bank accounts and other assets," says Mayer Dallal, managing director at <keyword id="12212082" type="UNKNOWN" weightage="60" keywordseo="mortgage" source="Orion">Mortgage</keyword> Bank of California. "[Lenders] look at debt-to-income ratio — basically, how much you owe versus how much you earn. [Lenders] also check credit scores — it's difficult to overstate the importance of a credit rating to the process. Then we get an appraisal of the property to see if the loan amount is appropriate, and do a title search to make sure there are no liens on the property."<h2>How the process of underwriting works </h2>The main goal of underwriting is to determine risk. Knowing the amount of risk involved in a financial venture allows for pricing and finally a decision to accept or reject the applicant or venture.The underwriting process varies somewhat depending on the type of underwriting being done, but in general terms here's how it works:Step 1: Review and evaluate the application or other paperwork to determine creditworthiness, medical history (life insurance), financial soundness (investment), or other other factors that vary with the type of risk.Step 2: Obtain an appraisal of property, evaluation of securities, or require a medical exam as required to help further determine risk.Step 3: Process all gathered information and make a decision to:<ul><li>Accept: Approval involves other decisions including loan rates, terms, premium amounts, or price to pay for securities, depending on the type of underwriting decision being made.</li><li>Deny: Denial results when the various factors show unacceptable risk in the eyes of the underwriter.</li><li>Pending: A decision to hold the application typically means the underwriter doesn't have enough or the right information to make a firm decision.</li></ul>Note: The term 'underwriting' is <a href="https://thebasispoint.com/where-the-term-underwriting-comes-from/" target="_blank" rel="noopener">believed to have originated</a> in the early days of Lloyd's of London when risk takers (underwriters) wrote their names below (under) the total amount of risk they were willing to undertake, such as a voyage of a merchant ship for example, in exchange for a specified premium.<h3>What is the role of an underwriter?</h3>The role of an underwriter is to protect the financial interests of the lender, insurer, or investor by assigning appropriate risk and compensation for assuming that risk. Underwriters work in a variety of financial industries including banking, insurance, investing, and more. In fact, anything that involves a combination of risk and money, probably has an underwriter somewhere in the process.In their role of evaluating financial risk, depending on the type of risk, underwriters investigate all financial aspects of an applicant or investment. Medical history and health come into play when someone applies for life insurance. Appraisal or evaluation is also part of the process when you are buying a house, car, boat, or even investing in real estate or a major project.<h2>Types of underwriting </h2>Each type of underwriting comes with specific risks. Underwriters generally specialize in one of several risk types.<h3>Loan underwriting</h3>If you've ever applied for a personal, car, or home loan, you've likely heard the term "underwriting" as part of the application process.Personal and car loans, compared to mortgage loans, are relatively simple. The risk to the lender is that you will not pay back the loan. <a href="https://www.businessinsider.com/personal-finance/how-to-get-a-car-loan" target="_blank" rel="noopener">These types of loans</a> are often underwritten using a computer and strict modeling algorithms. That is not to say they are "untouched by human hands" just that the process is not as complex as with other types of risk.Mortgage/real estate loans <a href="https://www.businessinsider.com/personal-finance/mortgage-underwriting-process" target="_blank" rel="noopener">are more complicated</a>, mostly because the thing you are trying to buy is more expensive and the risk to the lender is greater. As noted above, a home or other real estate loan involves a deep dive into your personal finances including income, assets, debt, and general ability to repay the loan. In addition, the asset (home/real estate) must be appraised, evaluated to make sure you are not overpaying. Other research involves making sure the seller actually owns the property, such as a title search."Many people don't realize how tricky underwriting can be for a self-employed person or an entrepreneur who's applying for a loan at a big bank," notes Dallal. He blames it on automated underwriting that looks for a W-2 and when none is found, rejects the applicant. "But there are mortgage lenders who take a more individualized approach to loan qualification, rather than the cookie-cutter approach old-school lenders use," Dallal adds, advising borrowers to seek out those lenders.<h3>Insurance underwriting</h3>Insurance underwriting involves evaluating an applicant for life or property insurance. It determines the risks of filing large or frequent claims and assessing how much coverage a person can be given, how much they should pay and how much an insurance company is likely to pay to cover the policyholder.Life insurance underwriting involves assessing the risk of the potential insurer by evaluating age, occupation, health, family medical history, lifestyle, hobbies, and other traits. Property and casualty insurance underwriting requires inspection of homes and rental properties for deterioration, crumbling foundations, damaged roof or anything that poses a risk to the insurer.Note: Before the Affordable Care Act (ACA) took effect in 2014, health insurance sold in the individual market in most states was medically underwritten to include consideration of pre-existing conditions. Since 2014, however, pre-existing conditions may no longer be considered. Health insurance must now by guaranteed issue, regardless of pre-existing condition status.<h3>Securities underwriting</h3>In <a href="https://corporatefinanceinstitute.com/resources/knowledge/finance/underwriting-overview/" target="_blank" rel="noopener">securities underwriting</a>, the process involves the sale of stocks or bonds to investors, often in the form of <a href="https://www.businessinsider.com/what-is-ipo" target="_blank" rel="noopener">Initial Public Offerings (IPOs)</a> by an underwriter (bank). In this case the bank relies on a cadre of underwriters who help the bank assess risk, plan for, and execute the agreement to underwrite the IPO and sell securities to fund the IPO.<h1>How long does underwriting take? </h1>It should be no surprise that the amount of time it takes to underwrite a financial transaction depends on the type and complexity of the transaction. Underwriting a personal loan or even a car loan can be completed in minutes using a computer and software. Mortgages and life insurance take longer. Securities underwriting, for example for an IPO, is likely to take the longest.Personal loans or car loans often take a week or less. In some instances, underwriting and approval can be almost instantaneous, happening in minutes.Mortgages often take 30 to 45 days for full approval, although the underwriting process is only part of that timeline and is usually complete in about 72 hours after the underwriter has all the information they need.Life insurance underwriting might be one of the least predictable when it comes to a timeline. Many life insurance policies undergo underwriting and approval in as few as 24 hours. Depending on health and other issues, however, the process can take a month or more.Property and casualty insurance is typically approved as fast as a personal loan, that is in one to seven days. The effective date of insurance, however, is after your payment is received. Being approved for homeowners insurance doesn't mean you have it.Securities underwriting as part of the IPO process typically happens within the six to nine months it takes for a company to transition from private to public. Since underwriters are involved at every step in the process on behalf of the bank, their work is not complete until the IPO is complete.<h2>The financial takeaway</h2>Underwriting is all about risk and determining the cost (value) of that risk. With a loan, the risk is whether the borrower will repay or default and the cost is the amount of interest charged. With insurance, the risk is whether too many policyholders will file claims at the same time. To mitigate that risk, the cost is the premium charged to each policyholder. With securities, the risk is that the underwritten investment will not make a profit. The cost is the difference between the amount the underwriter pays for the shares and the amount the public pays when the shares are sold.The role of underwriting and the underwriter cannot be understated. Without some assessment of risk, all financial transactions would be a matter of "guessing." Underwriting removes guesswork and replaces it with a process designed to be fair to both the lender and the borrower; the insurer and the insured; the investor and the investment.Lenders want to lend, insurers want to insure, and investors want to invest. Conversely, borrowers want to borrow, individuals want insurance, and IPOs want investors. No matter your role in any financial interaction, know that the underwriter is there to ensure fairness.<a data-type="618e6c8bd5155d73e6369c15">IFRS: The accounting framework that sets the rules for most non-US companies' financial reporting</a><a data-type="6185865e9a6f0261a113f16a">What are assets? The building blocks of wealth for individuals and profits for businesses</a><a data-type="6149f6636bf54a3a6e5d45a2">A CFP is an advisor armed with extensive education and ethical standards to help you manage your money</a><a data-type="61325cb22864564f1529e118">What to know about actuaries — the professionals who predict the financial future of companies with math and science</a>

Underwriting: The risk-assessment process used in everything from IPOs to life insurance

<ul class="summary-list"><li>A venture capital firm has a list of missed investment opportunities before companies went public. </li><li>Bessemer Venture Partners passed up chances on Apple, Facebook, Tesla, and Google. </li></ul>Would you be upset if you missed an opportunity to invest in Apple at a $60 million valuation before the company's initial public offering?For Bessemer Venture Partners, that price was simply "outrageously expensive" as it passed on a chance on a pre-IPO secondary stock. Apple has since become the first company to touch a $3 trillion valuation and is currently worth $2 trillion.As first reported by <a href="https://www.wsj.com/articles/venture-capital-firms-broadcast-their-biggest-misses-11673280117?mod=hp_featst_pos5" target="_blank" rel="noopener">the Wall Street Journal</a>, the venture capital firm reveals such big misses in its "<a href="https://www.bvp.com/anti-portfolio" target="_blank" rel="noopener">the Anti-Portfolio</a>," which details some of the reasoning behind passing on early startups that turned into Wall Street heavyweights. To be sure, Bessemer is one of the biggest VC firms, and its investments include successful companies like Linkedin, Yelp, Twitch and Shopify. The firm has taken part in 135 IPOs and has over 200 companies in in its portfolio. But Apple isn't the only household name that Bessemer says it missed the boat on, with other early passes including Airbnb, Google, Paypal and Tesla. Bessemer also had a chance to grab hold of a stake in Facebook in 2006. Jeremy Levine, a partner at the firm, reportedly spent the better part of a weekend "dodging" Eduardo Saverin, a Facebook cofounder who was still a Harvard undergrad at the time.Levine ultimately passed on the company, but not before seemingly putting Saverin in his place. "Kid, haven't you heard of Friendster? Move on. It's over!" Meanwhile, Byron Deeter, a partner at Bessemer, thumbed his nose at Tesla's negative margins in 2006 after meeting the electric vehicle company's team and test driving a Roadster. "It's a win-win. I get a great car and some other VC pays for it!" he said. Bessemer says Deeter eventually ended up paying full retail price for a Tesla Model X. As for Google, Bessemer co-founder David Cowan's college friend tried to get him in 1999 and 2000 to meet the Stanford students creating what is now the ubiquitous search engine in her garage."In the most important moment ever for Bessemer's anti-portfolio, Cowan asked her, 'How can I get out of this house without going anywhere near your garage?'"Other misses include eBay, which Cowan called a "no-brainer pass." And on PayPal, the VC firm passed on a Series A funding round, citing a "rookie team, regulatory nightmare.""Our reasons for passing on these investments varied," Bessemer says about its anti-portfolio. "In some cases, we were making a conscious act of generosity to another, younger venture firm, down on their luck, who we felt could really use a billion dollars in gains. In other cases, our partners had already run out of spaces on the year's Schedule D and feared that another entry would require them to attach a separate sheet."Whatever the reason, we would like to honor these companies – our 'anti-portfolio' – whose phenomenal success inspires us in our ongoing endeavors to build growing businesses. Or, to put it another way: if we had invested in any of these companies, we might not still be working."

Pre-IPO Apple, Facebook, Tesla, Google lead a VC firm's biggest missed investment opportunities - 'Kid, haven't you heard of Friendster? Move on. It's over!'

<ul><li><keyword id="6357332" type="UNKNOWN" weightage="20" keywordseo="Gaming">Gaming</keyword> company <keyword id="125145" type="COMPANY" weightage="20" keywordseo="Nazara-Technologies">Nazara technologies</keyword> acquires a 51% stake in Paper Boat Apps, a Mumbai-based indie studio.</li><li>Paper Boat Apps is the publisher of Kiddopia.</li><li>Kiddopia is an edutainment app which has over 2.5 million downloads and 100,000 paying users. </li></ul>Indian gaming company Nazara technologies acquired a 51% stake in Paper Boat Apps, a Mumbai-based indie studio. Nazara has invested ₹83.5 crores for the deal. Paper Boat Apps is the publisher of Kiddopia, an edutainment app which has over 2.5 million downloads and 100,000 paying users. “Kiddopia addresses the concern where young children are found to consume digital content through their parent’s devices. Kiddopia offers a positive alternative while bringing high quality, curated educational content packaged within an entertaining framework that keeps both kids healthy and parents happy. Kiddopia will be leveraged to over 100 million users through the Nazara network,” Nitish Mittersain, founder and MD, Nazara Technologies said. But this acquisition is only one of the series of investments by Nazara this year. In September 2019, Nazara acquired majority stake in Sports Unity, the creator of multiplayer quiz called Qunami, for ₹7.5 crore. In August, Nazara also bought 67% stake in Sportskeeda for ₹44 crore. In May, Nazara invested in local languages gaming platform Bakbuck. It had also bet on a fantasy gaming platform Halaplay with an investment of ₹40 crores in March. Nazara also holds the license mobile gaming rights of popular cartoon characters like Chhota Bheem, Motu Patlu, Shikari Shambhu. It has also established itself in 64 countries across Africa, Middle East, South East Asia, and the Indian subcontinent. Nazara is also gearing up to go for an IPO.

Nazara clinches its fifth acquisition this year by buying into Paper Boat Apps

<ul class="summary-list"><li><keyword id="6358963" type="DEFINITION" weightage="60" keywordseo="Warren-Buffett">Warren Buffett</keyword> potentially missed out on <keyword id="10387" type="CITY" weightage="60" keywordseo="Microsoft">Microsoft</keyword>'s IPO because of <keyword id="193341" type="CITY" weightage="60" keywordseo="Liberty-Media">Liberty Media</keyword>'s <keyword id="654081" type="PERSON" weightage="60" keywordseo="John-Malone">John Malone</keyword>.</li><li>Malone told the investor that he wouldn't buy the software stock due to competitive threats.</li><li>The media mogul later said he'd be "bigger than Warren Buffett" if he spun off fewer companies.</li></ul>Warren Buffett may have declined to invest in Microsoft's IPO because of a media mogul's bad advice.John Malone, the billionaire chairman of Liberty Media, cautioned the investor against buying a piece of the software company during a CEO retreat in the mid-1980s, <a href="https://www.telegraph.co.uk/business/2018/09/02/john-malone-told-warren-buffett-not-invest-bill-gates-microsoft/">he told The Telegraph</a> in 2018. Microsoft cofounder <keyword id="45830" type="PERSON" weightage="60" keywordseo="Bill-Gates">Bill Gates</keyword> had just finished pitching his fledgling business to a crowd of executives."Warren and I are sitting there, and we hear Bill's presentation. Warren says, 'John, you know something about these technology companies, would you invest in that?'" Malone recalled."And I said, 'S---, I don't think so, Warren. It would be too easy for other people to compete with it. I don't see the barriers to entry,'" he added.Read more: <a href="https://www.businessinsider.com/warren-buffett-berkshire-hathaway-cash-apple-costco-chevron-chris-bloomstran-2021-6?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Warren Buffett's Berkshire Hathaway has $140 billion in cash, yet it pulled billions out of Apple, Costco, and Chevron. Veteran investor Chris Bloomstran explains why the cash pile isn't excessive and the sales made sense.</a>Malone was dead wrong in hindsight. If Buffett had put $1 million into Microsoft's IPO and never reinvested a single dividend, his stake would be <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.microsoft.com%2Fen-us%2FInvestor%2Fstock-calc.aspx">worth $2.5 billion today</a> - a 250,000% gain in 35 years.Of course, Buffett might have ignored Malone even if he'd recommended buying Microsoft stock. The <keyword id="6362665" type="ORGANIZATION" weightage="60" keywordseo="berkshire-hathaway">Berkshire Hathaway</keyword> CEO famously operates within his "circle of competence," only investing in things he understands. He also hunts for bargains and avoids expensive technology <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword> - with the <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-apple-stake-tripled-value-more-than-100-billion-2020-8-1029461041">notable exception of Apple</a> in recent years.Even if Buffett had invested in Microsoft's IPO, he probably would have sold his stock a few years later, once he became good friends with Gates. The pair play online bridge together, Buffett donates billions of dollars in Berkshire stock to the Gates Foundation annually, and Gates was a Berkshire board member for several years.Buffett officially ruled out buying Microsoft stock a few years ago, citing the potential for accusations that Gates was feeding him inside information, and vice versa.Read more: <a href="https://www.businessinsider.com/how-to-find-stocks-that-have-most-growth-potential-2021-5">A 20-year markets veteran breaks down his formula for finding stocks with the most growth potential</a>It's worth noting that Buffett didn't miss the Microsoft boat entirely. He bought 100 shares of Gates' company shortly after meeting him "just to keep track of what this young kid was doing," the investor said in a <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-bob-woodward-microsoft-bill-gates-37-billion-deal-2020-10-1029667401">2016 interview</a>.<h2>Bigger than Buffett</h2>Malone has taken a different approach to Buffett throughout his career, spinning out scores of businesses instead of building a single conglomerate. He would be richer and more influential than Buffett if he'd kept his empire intact, he said at an investor event in 2017, <a href="https://deadline.com/2017/01/john-malone-media-mega-deals-lionsgate-positioned-profit-1201882332/#">according to Deadline</a>."I'd be bigger than Warren Buffett today if I hadn't spun shit off," Malone said. The executive's famous quip is "the store is always open," meaning he's never opposed to selling his assets at the right price.Liberty Media has carved out DirecTV, Starz, and many other subsidiaries over the years. Its key holdings today are SiriusXM, Formula One, and the Atlanta Braves baseball team.In contrast, Buffett has been collecting businesses under the Berkshire umbrella for more than 50 years. The conglomerate counts Geico, See's Candies, Fruit of the Loom, Precision Castparts, Dairy Queen, and the BNSF Railway among its subsidiaries.

You Searched For "boat ipo" and got 9 results

Noise joins the smart rings bandwagon as a new category emerges

Sourabh Jain

INTERVIEW: This Indian challenger to Apple and Samsung explains why it chose India and Vietnam to make a bulk of its products

Kritti Bhalla

Ahead of Nazara Technologies’ IPO, the CEO says its public listing will put Indian gaming on the world map

Sanchita Dash

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