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<ul><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> believes this allocation will reward Ola’s ‘high impact’ employees. </li><li>The company claims to have seen a strong recovery in its ride hailing business. </li><li>Earlier this month, Ola raised $500 million in a pre-IPO round.</li></ul>Ride hailing giant Ola has expanded its employee stock option plan (<keyword id="120103" type="PERSON" weightage="20" keywordseo="Esop">ESOP</keyword>) pool to ₹3,000 crore. It has also allotted an additional ₹400 crore worth stock to employees ahead of its initial public offering (IPO), the company said in a press statement on Wednesday. ESOPs are employee benefit plans to offer employees a limited number of shares in the company. The company believes that this allocation will reward Ola’s high impact employees and lead to a long-term wealth creation for them. “Our expanded ESOP programme, along with the fresh stock allocation of ₹400 crore, enables our key talent to participate in the long term wealth creation opportunities generated by their innovations and the impact they create. It will also reinforce their sense of ownership and align their growth with that of the company as we continue to accelerate the world’s transition to sustainable mobility” said Bhavish Aggarwal, Ola’s cofounder and chief executive. Ola, in its press note, also highlighted that the company has seen strong recovery in its ride hailing business over the last several months. The company was severely hit by the first wave of COVID-19, as its revenue declined by 95% in April-May 2020. This led to layoffs in the company, impacting over<a href="https://www.businessinsider.in/business/startups/news/ola-fired-1400-employees-as-revenue-is-hit-by-95-in-the-last-two-months/articleshow/75843656.cms"> 1,400</a> employees in May 2020. The Bengaluru-based startup got the wheels for its IPO rolling earlier this month, when it raised <a href="https://www.businessinsider.in/business/startups/news/ola-app-raises-500-million-from-temasek-and-warburg-ahead-of-ipo/articleshow/84261607.cms">$500 million from investment titans</a> Temasek and Warburg Pincus in a pre-IPO round. The company’s chief executive Aggarwal also infused an undisclosed amount in the startup in his personal capacity. The company was founded in 2010 by Aggarwal and Ankit Bhati. It has marked its presence across three continents. It has raised $4 billion to date from marquee investors like SoftBank, Tencent, Steadview Capital, Eternal, Sailing Capital, China Eurasian Economic Cooperation Fund and others. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/droom-automobile-marketplace-raises-200-million-in-a-pre-ipo-round-at-unicorn-valuation/articleshow/84818567.cms" data-type="tilCustomLink" style="">Automobile marketplace Droom is raising $200 million in a pre-IPO round at unicorn valuation</a> <a href="https://www.businessinsider.in/business/startups/news/the-whole-truth-a-healthy-packaged-food-brand-raises-6-million-from-sequoia-capital/articleshow/84815594.cms" style="">The Whole Truth, a ‘healthy’ packaged food brand, raises $6 million to enter new categories</a> <a href="https://www.businessinsider.in/stock-market/news/rolex-rings-ipo-opens-on-july-28-and-closes-on-july-30-with-a-price-band-of-880-900/articleshow/84813639.cms" style="">Rolex Rings IPO opens today with a price band of ₹880-900</a>

Ola expands ESOP pool to ₹3,000 crore, issues stock worth ₹400 crore to employees

EV manufacturer <keyword id="6354720" type="General" weightage="100" keywordseo="ola" source="Orion">Ola</keyword> Electric on Thursday launched its much-anticipated Ola S1 Air e-scooter, which comes available in three variants at a starting price of Rs 84,999. The company also expanded its Ola S1 portfolio by launching the new variant at a price of Rs 99,999, which comes powered by a 2kWh battery, and offers an IDC range of 91 km and a top speed of 90 km/hr. The purchase window for the new variant opens from February 9, while the deliveries will begin from March 2023, the company said. "The expansion of the successful S1 portfolio and the S1 Air in 3 new variants, and across multiple price points will encourage more customers to permanently switch to EVs," Bhavish Aggarwal, Founder and CEO, Ola, said in a statement. The new "S1" variant will be available in 11 colour palettes - Gerua, <keyword id="2558372" type="General" weightage="50" keywordseo="matt-black" source="Orion">Matt Black</keyword>, Coral Glam, <keyword id="8154305" type="General" weightage="50" keywordseo="millennial-pink" source="Orion">Millennial Pink</keyword>, <keyword id="16451314" type="General" weightage="50" keywordseo="porcelain-white" source="Orion">Porcelain White</keyword>, <keyword id="1261818" type="General" weightage="50" keywordseo="midnight-blue" source="Orion">Midnight Blue</keyword>, Jet Black, Marshmellow, Anthracite Grey, Liquid Silver, and Neo Mint, while, "S1 Air" will be available in Coral Glam, Neo Mint, Porcelain White, Jet Black, and Liquid Silver. The Ola S1 Air comes powered by 2kWh, 3kWh and 4kWh battery packs, a 4.5kW hub motor and a top speed of 85 km/hr. The 2 kWh variant offers an IDC range of 85 km, while the IDC range for the 3kWh and 4kWh variants is 125 km and 165 km, respectively, according to the company. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/data-ai-firm-tredence-announces-esop-buyback-worth-240-cr-270-workers-to-benefit/articleshow/97771331.cms">Data AI firm Tredence announces ESOP buyback worth ₹240 cr, 270 workers to benefit</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/indias-first-solar-powered-electric-vehicle-could-cut-your-daily-transportation-costs-by-one-third/articleshow/97773509.cms">India's first solar-powered electric vehicle could cut your daily transportation costs by one-third!</a>

Ola launches new e-scooter S1 Air, starting at ₹84,999

<ul><li>Unlisted shares are bought from existing employees of the specific company who can offer shares to new investors who are keen to invest.</li><li>Some investment firms like Analah Capital, TradeUnlisted and Unlistedkart are providing their portals to help investors buy unlisted shares.</li><li>A retail investor should invest only the surplus money in unlisted companies as these are volatile and illiquid investments.</li></ul>Investment in publicly listed companies like Reliance Industries, State Bank of India is very well known. But there are also ways to invest in unlisted companies, which are growing at a pace and could give attractive returns. Unlike the listed ones, shares of unlisted companies are not available for trading on any stock exchanges. So those who want to invest in those companies can do so through other platforms. Here are some ways for retail investors to invest in unlisted space: Pre-IPO investment Pre-IPO (initial public offering) trading means buying/selling the shares of a company before it gets listed on the stock exchanges. Since these shares are not traded in the public market, you do not have a marketplace like stock exchange to buy it. Unlisted shares can be bought through intermediaries and platforms who specialise in sourcing and placement of unlisted shares and can facilitate the trade. Intermediaries and platforms buy shares from employees i.e., employee stock options (ESOP), existing investors and offers new investors who are keen to invest. In the last few years, the pre-IPO market has opened up and is now available to the masses. Some investment firms like Analah Capital, TradeUnlisted and Unlistedkart have portals to help investors buy unlisted shares. Shares of these unlisted companies will be held in a demat account. According to Unlistedkart, depending on the unlisted share, the minimum amount can be between ₹ 25,000–₹ 50,000. Other investment platforms have not mentioned a threshold of minimum investment. As per India’s market regulator’s rules, all pre-IPO shares are locked in for six months from the date of listing. It means you cannot sell stocks before six months from the date of listing. In case of unlisted securities, if the stock is sold within 24 months, it’s considered short term. The gains are added to the income of the person and taxed at a tax slab rate applicable to you. And if sold after 24 months, it is taxed as long term capital gains at 20% after indexation. However, remember unlisted shares are illiquid and volatile, so you may not be able to sell your shares in a hurry. Since the pre-IPO market is mostly dominated by institutional players and the transaction among them is generally slower which makes it difficult to sell shares and get money any time of the day. Here is the data on some of the past IPOs: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Pre-IPO selling </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO price band </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Listing price </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Current price </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bombay Stock Exchange </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹200 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹806 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1069 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1179 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Ratnakar Bank (RBL) </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹60 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹225 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹301 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹179 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ICICI Lombard </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹400 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹661 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹680 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1600 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HDFC Standard Life </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹210 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹290 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹344 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹742 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Avenue Supermarts (DMart) </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹280 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹300 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹616 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹4209 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ICICI Prudential Life Insurance </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹130 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹334 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹310 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹696 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Central Depository Services (CDSL) </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹60 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹149 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹261 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1335 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">AU Small Finance Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹175 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹358 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹597 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1115 </td></tr></tbody></table>Source: Planify Pre-IPO funds Investors get into the pre-IPO funds to get easy and early access to some of the good companies. Edelweiss Wealth Management, Kotak Investment Advisors, Trifecta Capital and IIFL Wealth are some of the wealth management firms that offer funds that invest in pre-IPO companies. Edelweiss Recently Listed IPO Fund, which invests in up to 100 recently listed companies and upcoming IPOs, has reportedly delivered a compound annual growth rate (CAGR) of 21.7% since inception. A retail investor should invest only the surplus money in unlisted companies as these are volatile and illiquid investments. This way, even if you lose this money it should not matter to you. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/amazon-lawyers-allegedly-paid-bribes-to-indian-government-officials/articleshow/86360262.cms">Amazon is investigating its lawyers for allegedly bribing Indian government officials</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/cars24-raises-450-billion-doubles-it-valuation-to-1-84-billion/articleshow/86361516.cms">Cars24 raises nearly half a billion dollars, doubles it valuation to $1.84 billion</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/kotak-mahindra-bank-to-buy-about-10-in-kfin-technologies-for-310-crore/articleshow/86360811.cms">Kotak Mahindra Bank to buy about 10% in KFin Technologies for ₹310 crore</a>

Want to invest in unlisted companies like Ola, Paytm or Byju’s? Here is how you can do it

In a bid to fill in the talent crunch, top e-commerce companies like <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>, Ola, Jabong, etc are rolling out ‘accelerators vesting’ for <keyword id="822854" type="UNKNOWN" weightage="20" keywordseo="employee-stock-options">Employee Stock Options</keyword> (ESOPs). 
 
Through this, the employees will get an option to vest in case the company decides to sell-off or IPO. If there is no ‘accelerator vesting’ mentioned, it is a drawback for employees as they can’t sell their stock options in case the company sells out. 
 
"We are offering an increasing number of accelerators for ESOPs for senior level hires in the past six months. Several senior-level candidates are also now demanding it in their contract," HR head of a large online retailer told ET. 
 <keyword id="3175886" type="UNKNOWN" weightage="20" keywordseo="accelerated-vesting">Accelerated vesting</keyword> is also beneficial when an employee decides to quit a company as he/she does not want to be stuck with the old firm. 
 
“All employees at Paytm with ESOPs are eligible for accelerated vesting in the event of a liquidity event like an IPO. With the rapid valuation hikes that companies like ours have seen, the employees get an opportunity to increase their paper money exponentially/disproportionately,” Amit Sinha, people head, Paytm, told ET.

Amazon, Flipkart, Snapdeal are attracting top talent by giving out 'accelerators vesting' for ESOPs

Twenty one new COVID-19 cases related to the <keyword id="6360967" type="UNKNOWN" weightage="20" keywordseo="olympics">Olympics</keyword> were reported by the organisers on Saturday, none of them athletes, amid surging infections in the host city. Out of the total new cases, 14 were contractors and seven Games-linked officials. Sixteen are residents of Japan and five from overseas. None of them were staying in the Olympic village, the organising committee said. The cumulative COVID-19 cases related to the Games now stand at 241. As of Thursday, 40,558 people from overseas had arrived in Japan to take part in the Games, the organisers said. On Friday, the organisers had announced 27 new COVID-19 cases linked with the Olympics, including three athletes, the highest daily count so far. The three athletes included <keyword id="6354458" type="UNKNOWN" weightage="20" keywordseo="US">US</keyword> pole vaulter <keyword id="3468535" type="PERSON" weightage="20" keywordseo="sam-kendricks">Sam Kendricks</keyword>, a two-time world champion, who on Thursday pulled out of the Games after testing positive for the virus. Friday's figure in Games-related cases came a day after <keyword id="4741" type="COMPANY" weightage="20" keywordseo="Tokyo">Tokyo</keyword> reported over 3,000 new infections for the fourth straight day, and the nationwide single-day count topped 10,000 for the first time. The organisers and the <keyword id="64822" type="ORGANIZATION" weightage="20" keywordseo="International-Olympic-Committee">International Olympic Committee</keyword> have insisted that the showpiece is not behind the record upswing in the host city. Authorities are alarmed by the surging cases in the Japanese capital which is in a state of emergency. SEE ALSO <a href="https://www.businessinsider.in/tech/news/india-has-limited-options-for-weapons-that-can-take-down-enemy-drones/articleshow/84836724.cms">India has limited options for weapons that can take down enemy drones</a> <a href="https://www.businessinsider.in/politics/political-media/news/there-are-at-least-four-hot-issues-in-india-that-the-government-has-no-data-for/articleshow/84820788.cms">There are at least four hot issues in India that the government has no data for</a> <a href="https://www.businessinsider.in/business/news/ola-expands-esop-pool-to-3000-crore-issues-stock-worth-400-crore-to-employees/articleshow/84820171.cms">Ola expands ESOP pool to ₹3,000 crore, issues stock worth ₹400 crore to employees</a>

21 new COVID-19 cases reported at Tokyo Olympics, no athletes among them

<ul><li>The Series A funding round was led by private equity firm Xponentia Capital.</li><li><keyword id="151699" type="ORGANIZATION" weightage="20" keywordseo="easy">Easy</keyword> aims to cross $150 million AUM over the next two years.</li><li>It provides fully insured home loans to protect consumers against vulnerabilities.</li></ul>Mortgage finance startup Easy on Thursday, July 29ounced that it has raised $15 million in a Series A funding round. The financing round was led by private equity firm Xponentia Capital, with participation from existing investors Harbourfront Capital, Finsight VC, RaSa Future Fund, Navida Capital AB, Helena Wasserman Eriksson and Integra Software. Serial entrepreneur and investor Rohit Chokhani founded the company in August 2018. It operates across geographies in both online and offline models and provides instant financing on home loans. The company, registered under National Housing Board (NHB), provides fully insured home loans to protect consumers against vulnerabilities in situations like COVID-19. “We have developed an in-house property intelligence tech combined with credit tech, [through which] we are able to deliver a seamless consumer experience within minutes and not days. We have seen our fastest client from origination to moving-in the property in 2 days,” Chokhani, founder and director of Easy said. Easy aims to cross $150 million assets under management (AUM) over the next 24 months and expand its network to more than 100 locations pan India. “Mortgage is the most important financing decision for any family. Customers of Easy can focus on things that matter and not worry about drudgery and paperwork. Buying a house is what it should be -- a delightful experience,” P R Srinivasan, managing partner at Xponentia Capital Partners LLP, said. SEE ALSO <a href="https://www.businessinsider.in/tech/news/india-has-limited-options-for-weapons-that-can-take-down-enemy-drones/articleshow/84836724.cms" data-type="tilCustomLink">India has limited options for weapons that can take down enemy drones</a> <a href="https://www.businessinsider.in/politics/political-media/news/there-are-at-least-four-hot-issues-in-india-that-the-government-has-no-data-for/articleshow/84820788.cms">There are at least four hot issues in India that the government has no data for</a> <a href="https://www.businessinsider.in/business/news/ola-expands-esop-pool-to-3000-crore-issues-stock-worth-400-crore-to-employees/articleshow/84820171.cms">Ola expands ESOP pool to ₹3,000 crore, issues stock worth ₹400 crore to employees</a>

Mortgage startup Easy has raised $15 million to provide quick home loans in a matter of days

<ul><li>25% more sellers grossed sales over ₹1 crore as compared to last year’s <keyword id="2936509" type="PERSON" weightage="20" keywordseo="Prime-Day">Prime Day</keyword>.</li><li>Customers from over 96% pincodes of India placed their orders on Prime Day.</li><li>The company also revealed that more than 70% of new Prime members shop from outside of the top 10 cities.</li></ul>E-commerce firm <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> hosted its annual 48-hour long ‘Prime Day’ sale earlier this week, in India, and it recorded the most small medium business (SMBs) selling on the e-commerce platform ever. Personal computing, beauty, apparel, home and kitchen, smartphones and pantry witnessed the highest number of sales, the company said in a statement. <table style="border-width: initial; border-style: none;"></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;">Top Smartphones </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;">OnePlus Nord 2 5G, One Plus Nord CE 5g, Redmi Note 10 series, Redmi 9, Samsung Galaxy M31s, Samsung Galaxy M21 and Realme c11 </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;">Highest-selling TV </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;">Onida Fire TV </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;">Top appliance </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;">LG and Samsung in washing machines; Whirlpool and Samsung in refrigerators; Samsung in microwave in kitchen and home appliances. </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;">Top selling apparel brands </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;">Jockey, GoSriKi, Biba and Max </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;">Top selling beauty brands </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;">Nivea, Biotique, Dove, WOW, L’Oreal, Mamaearth, Himalaya, Vaseline, Parachute, Lakme and Nivea </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;">Alexa </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;">One in every 10 smartwatches and one in every 6 smartphones sold this Prime Day was Alexa built-in. </td></tr></tbody></table> Prime members shopped from 1.26 lakh sellers, which included artisans, weavers, women entrepreneurs, startups and brands, local offline neighbourhood stores. Of these, 31,230 sellers saw their highest ever single day sales during the two-day sale and nearly 25% more sellers’ grossed sales over ₹1 crore as compared to last year’s Prime Day. The company has over 8 lakh sellers listed on its e-commerce platform. Customers from over 96% pincodes of India placed their orders on Prime Day. “We dedicated this Prime Day to SMBs and local stores and are humbled by their participation. Prime members shopped from more than 126,000 SMBs and stores from across over 6,800 pincodes, making it the biggest ever sales for SMBs on Amazon.in. We are also excited that the month leading up to Prime Day became Prime Video’s best ever viewership period, firmly establishing that India loves free, fast shipping, exclusive shopping and digital benefits that Prime offers,” said Akshay Sahi, director of Prime and Fulfillment Experience at Amazon India. The company also revealed that more than 70% of new Prime members shop from outside of the top 10 cities including towns like Anantnag in Jammu &amp; Kashmir, Bokaro in Jharkhand, Tawang in Arunachal Pradesh, Mokokchung in Nagaland, Hoshiarpur in Punjab, Nilgiris in Tamil Nadu, Gadag in Karnataka and Kasargod in Kerala. SEE ALSO <a href="https://www.businessinsider.in/tech/news/india-has-limited-options-for-weapons-that-can-take-down-enemy-drones/articleshow/84836724.cms">India has limited options for weapons that can take down enemy drones</a> <a href="https://www.businessinsider.in/politics/political-media/news/there-are-at-least-four-hot-issues-in-india-that-the-government-has-no-data-for/articleshow/84820788.cms">There are at least four hot issues in India that the government has no data for</a> <a href="https://www.businessinsider.in/business/news/ola-expands-esop-pool-to-3000-crore-issues-stock-worth-400-crore-to-employees/articleshow/84820171.cms">Ola expands ESOP pool to ₹3,000 crore, issues stock worth ₹400 crore to employees</a>

Amazon says that Prime Day 2021 was the best sale for small businsess, 1.26 lakh sellers participated

<ul><li>Mumbai Angel Network aims to invest in over 500 startups in the upcoming three-five years.</li><li>The company gets 8,000-10,000 investment pitches annually, of which 20-30 are finalised.</li><li>It has a network of 600 angel investors, of which 100 have joined last year.</li></ul>Mumbai Angel Network is planning to pump up its investments in the Indian startup ecosystem this fiscal year, by closing 50 to 60 early-stage deals by March 31,2022. This target is almost three times higher than the 20 deals the angel network has been making annually between financial year 2017-2020. It cracked 35 deals in FY2021. The angel network aims to invest in over 500 startups in the upcoming three-five years. It aims to deploy close to <keyword id="11743726" type="UNKNOWN" weightage="20" keywordseo="150">₹150</keyword> crore to ₹200 crore in the next couple of years, representing a four-fold increase compared to ₹50 crore capital it deploys annually at present. Mumbai Angel Network’s cofounder and chief executive (CEO) <keyword id="2332886" type="PERSON" weightage="20" keywordseo="Nandini-Mansinghka">Nandini Mansinghka</keyword>, in an interview with Business Insider, said that they have been noticing a lot of action across a spectrum of industries, therefore they don’t really have any specific area of focus at the moment. “As an Angel Network, we don’t have any investment thesis, we focus on startups that are interesting,” she added. “As a platform we are sector agnostic and have invested in a wide variety of investments from technology, consumer, life sciences, defence technology, space technology, electric vehicles, and we believe that these are highly promising sectors that will grow rapidly in the near future,” — Mumbai Angel Network’s cofounder and chief executive Nandini Mansinghka. The network gets 8000-10,000 investment pitches annually and close to 1,000 on a monthly basis. Mansinghka explained that <keyword id="164924" type="ORGANIZATION" weightage="20" keywordseo="Mumbai-Angels">Mumbai Angels</keyword> has a 12-member investment team, who go through each and every pitch and shortlist close to 20-25 deals on a monthly basis and over 120 deals annually. It also uses an internal algorithm to screen which companies have a chance of giving higher return. This is judged based on the performance of previous portfolio companies. The company would then share these details with the angel investors associated with Mumbai Angel Network, who then decide on which companies to invest in. Mumbai Angels manage these investments end-to-end, from completing all due diligence to figuring out the right exit strategy. However, the decision to invest in companies relies solely on angel investors themselves. “Apart from capital, we look for investors who are open to helping entrepreneurs with connections in the industry, help with strategy, marketing, tech etc. We are trying to leverage the collective wisdom of the group hence our members consist of business owners, CXO [chief executives] folks, successful founders, family offices, VC funds etc,” Mansinghka added. Mumbai Angel Network is a network of 600 angel investors based out of 40+ cities in and outside India. It has added 100 new members in the last one year. The angel network was founded by Sasha Mirchandani and Prashant Choksey in 2006. Nandini Mansinghka, a former investment banker with JP Morgan, took on the role of co-founder and CEO in 2018. Mumbai Angel Network has made investments in close to 160 startups to date and exited over 70 startups to date. <div type="image" title="Mumbai Angel Network plans to invest in 60 early-stage startups this year" msid="84847384" hostid="261"></div> Around 36 of its portfolio saw exits and next round investments in the last fiscal year. Mumbai Angel Network received 51-fold return from e-commerce platform Purplle and 8.9 times return from its investment in cloud telephony platform Exotel. SEE ALSO <a href="https://www.businessinsider.in/politics/political-media/news/there-are-at-least-four-hot-issues-in-india-that-the-government-has-no-data-for/articleshow/84820788.cms">There are at least four hot issues in India that the government has no data for</a> <a href="https://www.businessinsider.in/cryptocurrency/news/maharashtra-karnataka-and-telangana-plan-to-use-ethereum-in-their-fight-against-fake-degrees/articleshow/84823688.cms">This Indian startup is using Ethereum to help Maharashtra, Karnataka and Telangana fight against fake degrees</a> <a href="https://www.businessinsider.in/business/news/ola-expands-esop-pool-to-3000-crore-issues-stock-worth-400-crore-to-employees/articleshow/84820171.cms">Ola expands ESOP pool to ₹3,000 crore, issues stock worth ₹400 crore to employees</a>

Mumbai Angel Network plans to invest in 60 early-stage startups this year

Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> called startups the ‘strength of India’ as she pushed “job seekers” to turn “job creators”. In a big move, employees at startups who have stock options will be exempt from tax if they leave the company or sell their shares in the first five years. She proposed the tax relief given to startups. Earlier, a startup with turnover up to ₹25 crores was allowed 100% tax deduction on profits for seven years. The budget also proposed to expand it on two counts that can include older startups and those which are larger too. Here are some top reactions: Neelesh Talathi, CFO, Pepperfry 
 
 <div type="image" title="Neelesh Talathi, CFO Pepperfry" msid="73843354" hostid="261" caption="&amp;lt;p&amp;gt;Neelesh Talathi, CFO Pepperfry&amp;lt;br&amp;gt;&amp;lt;/p&amp;gt;"></div>





 “The Finance Minister has been empathetic about no tax harassment, resolving litigations. Resolving credit issues, app-based working capital solutions and more strategic aspects like National Logistic Policy are all initiatives that address core issues of our MSME sector.” “While these efforts will help boost the economy, it is imperative to arrest slippage in the Fiscal Deficit. To augur investment in our economy an aggressive disinvestment agenda, reforms including that of the government machinery etc. would have been welcome." <keyword id="258109" type="PERSON" weightage="20" keywordseo="Mayank-Kumar">Mayank Kumar</keyword>, Co-founder and MD of upGrad 
	
 
 <div type="image" title="Mayank Kumar" msid="73843449" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;strong&amp;gt;Mayank Kumar, Co-founder and MD of upGrad&amp;lt;/strong&amp;gt;&amp;lt;br&amp;gt;&amp;lt;/p&amp;gt;"></div>





 We at upGrad believe that upskilling is the critical route to steer India towards becoming a $5 trillion economy. But I would have been happier if the Government had taken steps to encourage investment in reskilling among professionals by allowing them a tax-break privilege under Section 80C from the Income Tax Act, 1961, like that of Mutual Funds or Life Insurance." Kunal Bahl, CEO &amp; Co-founder, <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> 
	
 
 <div type="image" title="kunal snapdeal" msid="73843509" hostid="261" caption="&amp;lt;p&amp;gt;Kunal Bahl, CEO &amp;amp;amp; Co-founder, Snapdeal&amp;lt;/p&amp;gt;"></div>





 “We are thankful for accepting the start-up sector's request for ESOP taxation reforms. Also, the higher time &amp; turnover limits for carry forward of losses for start-ups will enable them to optimize growth decisions in formative years." Overall, <keyword id="7836802" type="UNKNOWN" weightage="20" keywordseo="Budget-2020">Budget 2020</keyword> is a thoughtful weaving together of specific proposals to tackle varied issues. Measures to improve access to finance for MSMEs and reduced taxation for the middle-income segment are welcome steps. Boosting physical infrastructure, expanding digital connectivity and growing use of technology in government functioning are important building blocks for the long-term growth of the Indian economy." Vivek Goyal, Co-Founder, PlayShifu 
	
 
 <div type="image" title="play" msid="73843683" hostid="261" caption="&amp;lt;p&amp;gt;Vivek Goyal, PlayShifu&amp;lt;/p&amp;gt;"></div>





 "One of the core reasons behind a successful startup is the ability to hire from a very talented pool and to keep them motivated during the long and hard journey of scaling. This is the reason why startups from hubs like Silicon Valley grow up to become world-renowned and add value to society at large. The tax deferment on ESOPs will prove to be one of the significant factors and levers in motivating growth-enabling employees, a great step in helping startups in India to scale by hiring and retaining them! Reforms like these give more power to the Indian startup hub to make a mark on a global scale and contribute towards India's $5 Trillion vision by 2025." Raghav Gupta, Managing Director, India and APAC, Coursera 
	
 
 <div type="image" title="coursera" msid="73843748" hostid="261" caption="&amp;lt;p&amp;gt;Raghav Gupta, Managing Director, India and APAC, Coursera&amp;lt;/p&amp;gt;"></div>





 “It is a progressive budget that acknowledges the role technology can play in addressing challenges and improving access to quality higher education and employment opportunities for India's youth. Government's announcements related to the development of emerging technologies like AI, ML, Data Analytics ecosystem in the country and skilling opportunities for the youth, clearly reflect the focus on preparing the youth for jobs of tomorrow." <keyword id="36872" type="PERSON" weightage="20" keywordseo="Vamsi-Krishna">Vamsi Krishna</keyword>, CEO &amp; Co-founder, Vedantu 
	
 
 <div type="image" title="Vamsi Krishna, CEO and Co-founder of Vedantu" msid="73843907" hostid="261" caption="&amp;lt;p&amp;gt;Vamsi Krishna, CEO &amp;amp;amp; Co-founder, Vedantu&amp;lt;/p&amp;gt;"></div>





 “The vision of making education accessible to the farthest corner of the country will greatly benefit students. The allocation of budget to hone the skill sets of teachers and educators will positively impact quality learning and thereby provide a boost to the education sector. Additionally the allocation of budget to BharatNet will also have a deep impact on skilling rural India as it has the potential to open up online learning to students and professionals from remote villages. With better bandwidth internet, a qualified teacher located in a metro city can impart LIVE online classes to students in small town India, where there’s a dearth of quality education. Technology will soon disrupt the entire concept of the classroom and make it an extremely personalized, one to one teaching-learning experience tailored for each mind.” Ola Mobility Institute “The clean-air fund of Rs 4,400 crores to be provided in the form of incentives to be notified by MoEFCC should consider measures to link the incentives to the electrification of vehicles and associated infrastructure such as battery-swapping and charging." Padmaja Ruparel, Founding Partner, IAN Fund “The budget 2020 represents a big win for the country’s startup ecosystem. The Government has paid heed to our concerns and rolled out reforms like a 5 year tax holiday for ESOP. This positive sentiment is evident in the Government’s drive to roll out “no tax harassment” policies along with the establishment of the investment clearance cell for assisting entrepreneurs in India." See also: <a href="https://www.businessinsider.in/budget/news/startup-esops-to-be-non-taxable-for-five-years/articleshow/73824551.cms">Good news for startup employees - your ESOPs won’t be taxed for five years</a> <a href="https://www.businessinsider.in/budget/news/ikea-furniture-and-jimmy-choo-shoes-will-get-costlier-after-budget-2020/articleshow/73841697.cms?src=hp_latest">IKEA furniture and Jimmy Choo shoes will get costlier after budget 2020</a> <a href="https://www.businessinsider.in/budget/news/new-education-schemes-reforms-policies-in-budget-2020/articleshow/73836166.cms?src=hp_latest">Budget 2020: Indian education sector will now get students and funds from foreign lands</a>

This is how top startup founders reacted to budget 2020

<ul><li><keyword id="2947589" type="PERSON" weightage="20" keywordseo="Droom">Droom</keyword> is currently raising $200 million, at a unicorn valuation of $1.2 billion.</li><li>Droom’s expansion plans are a mix of organic as well as inorganic strategies.</li><li>It was founded in 2014 by Shopclues cofounder <keyword id="195858" type="PERSON" weightage="20" keywordseo="Sandeep-Aggarwal">Sandeep Aggarwal</keyword>.</li></ul>Online automobile marketplace Droom is all set to go public in the next two years. The company recently announced that it is in talks to raise<a href="https://www.businessinsider.in/business/startups/news/droom-automobile-marketplace-raises-200-million-in-a-pre-ipo-round-at-unicorn-valuation/articleshow/84818567.cms"> $200 million </a>from both new and old investors, at a valuation of $1.2 billion. The company is exploring listing opportunities in both India and the US. However, it is reluctant for a special purpose acquisition company (SPAC) option. SPAC is a company with no commercial operations that is formed strictly to raise capital through an initial public offering (IPO) for buying out an existing firm. Interestingly, the company has no presence in the US as of now and no plans to expand into the territory in the next year or so. Yet, it is pursuing a dual-track plan for the IPO. The company previously noted that it plans to be listed either on US-based NASDAQ or in India in 2022. <div type="ExtQuote" text="“We started Droom seven years back, and it is clearly a new age company, a high growth company. We went to use a decent amount of capital to build a formidable scale. These [new age] companies were not rewarded in Indian stock exchanges. So from the day I founded the company, we have been a Singapore holding company. We are operating as a subsidiary in India.”" auname="— Founder and chief executive (CEO) Sandeep Aggarwal on why he is considering a US IPO."></div> “I never thought, and I was a Wall Street analyst, that new age companies with no near-term visibility to profitability can be listed on BSE and NSE [National Stock Exchange], and can create a decent enough valuation. And there is a stock appetite among the investors and that has changed over the last couple of years,” he added, explaining why India is an option too. Droom wants a global footprint CEO Aggarwal, in an interaction with Business Insider, highlighted that the company will be using these funds to aid its growth and expand into international markets. The company has shortlisted 10 countries in Southeast Asia, including Indonesia, Vietnam, Philippines, Cambodia and Laos. It also looks at six countries in the Middle East such as the United Arab Emirates (UAE), Qatar, Oman, Turkey and Lebanon. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> Droom had already set up three offices in Singapore, Thailand and Malaysia before the pandemic hit.. However, it decided to hold off the international expansion plan beyond that due to travel restriction and capital conservatism during COVID-19. It has decided to take up this plan once again. Droom’s India expansion plans A bulk of the capital Droom raises would be invested into the Indian market, Aggarwal said. The company is looking to strengthen its presence in the top 100 Indian markets over the next couple of years. Aggarwal noted that Droom has 0.56% share in India’s automobile market and even a three-fold increase to 1.3% share could generate $7-$10 billion in gross merchandise value (GMV) for the company in the next two and a half years. The company claims that its current annual run-rate is $1.7 billion in gross merchandise value (GMV) and $54 million for net revenue. In order to expand its presence in the Indian market, Droom is currently running a pilot programme in New Delhi to test out a new product called Droom velocity. It is a last mile delivery service that will deliver the bought cars to the end customers. Besides this, it is also investing heavily on artificial intelligence (AI) to refresh its technology. <div type="ExtQuote" text="“India is the third-largest automobile market in the world, after the US and China. Less than 1% of this market is online and bulk of that goes through us.The international expansion is because we are a technology company and we can replicate our playbook in other countries. Theoretically, in order to create the next 25-50 times more value for this company, we don’t need any geography to unleash this value.”" auname="— Sandeep Aggarwal, CEO and founder of Droom."></div> Acquisitions, investments in pipeline too Droom’s expansion plans are a mix of organic as well as inorganic strategies. The company is also looking to acquire companies that will accelerate its international expansion and cut short the timeline. Aggarwal highlighted that even though they are going big on the international market, India will continue to be its biggest market. Droom was founded in 2014 by Aggarwal, who had cofounded e-commerce portal Shopclues. Droom is a tech and data science-driven online automobile marketplace, which offers an e-commerce platform as well as technology solutions for buying and selling automobiles in India. The company claims that it will turn operationally profitable by later this year or by June next year.. “We became contribution margin positive in September of last year and in our parlance it’s called contribution margin-3… As a two-time founder of an e-commerce company, trust me, reaching there in the seventh year of operations is [difficult],” he added. Contribution margin positive is when the company’s net revenue is able to cover operational expense, marketing cost and other variable expenses. SEE ALSO <a href="https://www.businessinsider.in/tech/news/india-has-limited-options-for-weapons-that-can-take-down-enemy-drones/articleshow/84836724.cms">India has limited options for weapons that can take down enemy drones</a> <a href="https://www.businessinsider.in/politics/political-media/news/there-are-at-least-four-hot-issues-in-india-that-the-government-has-no-data-for/articleshow/84820788.cms">There are at least four hot issues in India that the government has no data for</a> <a href="https://www.businessinsider.in/business/news/ola-expands-esop-pool-to-3000-crore-issues-stock-worth-400-crore-to-employees/articleshow/84820171.cms">Ola expands ESOP pool to ₹3,000 crore, issues stock worth ₹400 crore to employees</a>

Droom founder explains why he is considering a US IPO and where he intends to spend the money

<ul><li>DRDO developed a counter-drone technology system in 2020, however it did not get any order from the Indian armed forces. </li><li>Experts believe that the drone as well as counter-drone technology are fairly young and still need improvements. </li><li>Indian government rolled out guidelines against rogue <keyword id="94769" type="PERSON" weightage="20" keywordseo="drones">drones</keyword> in 2013, yet the country doesn’t have enough anti-drone devices.</li></ul>As the government of India has just started recognising the potential use cases of drones in the Indian healthcare system, it was hit with a harsh reality that the enemies of the state have taken leaps to incorporate this technology to harm the South Asian nation. Two bombs were<a href="https://www.indiatoday.in/india/story/jammu-iaf-base-drone-attack-jawans-saw-heard-bombs-drop-1821316-2021-06-30"> dropped</a> at the Indian Air Force station in Jammu, in the early hours of June 27 this year. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">June 27, 2021 </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Two bombs dropped on IAF base in Jammu between 1:43 a.m.-1:50 a.m. </td></tr><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">June 27, 2021 </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Two more drones were spotted over IAF military stations at 11:45 p.m. and 2:40 a.m. </td></tr><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">June 28, 2021 </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Two similar devices were noticed in Ratnuchak-Kaluchak military area in Jammu. This prompted soldiers to open fire. </td></tr><tr><td colspan="2" style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Source: Media reports </td></tr></tbody></table> This compelled the Indian government and security forces to go on a shopping spree to buy expensive counter-drone systems. While there are not many counter-drone technology makers in India, few of these players include state-owned Defence Research &amp; Development Organisation (DRDO), Bharat Electronics Limited (BEL), ideaForge and Big Bang Boom Solutions. According to media <a href="https://indianexpress.com/article/india/bsf-it-ministry-companies-border-security-drone-attack-7386310/">reports</a>, there are over 500 companies that can help the country find a solution to its drone problem. All these companies may not make devices to harm or kill drones, but can certainly help in tracking them. There are also several military tech private companies in the country, including Adani Defence &amp; Aerospace and Kadet Defence Systems that make drones for surveillance and technology for other combat purposes; Atindriya Systems provides electronic systems and software solutions for defense, and Trijatta that develops radars and encryption devices for the military. The government of India has been aware of the potential threat that rogue drones could pose in the security of the nation and issued a <a href="https://www.civilaviation.gov.in/sites/default/files/Counter_rogue_drone_guidelnes_NSCS.pdf">National Counter Rogue Drone Guidelines </a>two years ago. The policy highlights that the drone factor should be taken seriously as unmanned aircrafts, consumer drones and do-it-yourself (DIY) drones are readily available over the internet. The policy, referring to the Israel-Lebanon war of 2006, highlights "In certain incidents, the small drones were also armed with explosive ordnance, to convert them into potentially lethal guided missiles, thus demonstrating the growing sophistication with which these potent warriors have found relevance in combat zones." Yet it has found itself short of any large scale counter-drone system. The Jammu attack in itself did not cost much, but it did highlight the urgency to invest in a counter-drone system that could prevent bigger attacks in the long run. In the coming months, the government of India wants to sign multi-million dollar [who’s saying this?] contracts with both domestic and foreign firms to procure these technologies. <div type="image" title="India has limited options for weapons that can take down enemy drones" msid="84836842" hostid="261"></div> The anti-drone technology has a massive headroom to cover Kruthi Aramanamada, head of marketing at ideaForge, explained to Business Insider that counter-drone technology is expensive and fairly new as it came into existence only a decade ago. The technology is not fully matured and there is still a lot of scope of research and development (R&amp;D) in this segment, she added. Meanwhile, Anshuman Tripathi, a drone technology expert who is also a member of the National Security Advisory Board, <a href="https://www.indiatoday.in/india/story/combating-the-drone-menace-india-needs-to-pick-up-pace-with-anti-drone-measures-1823517-2021-07-03">said</a>, "Drones are still evolving and solutions to handle them are incomplete. It's a matter of a few years when the technology matures and you can standardise equipment as you go forward." Even developed countries like the US, Russia and Israel are <a href="https://theprint.in/opinion/brahmastra/india-needs-to-shop-for-anti-drone-systems-we-are-already-late/688517/">pumping billions</a> of dollars into research and development of both drones and counter-drone systems. However, they have not found a foolproof system for both hard and soft kill as yet. Indian armed forces on a look out for counter-drone systems In June 2020, IAF floated a Request for Information (RFI) for Indian vendors for Counter Unarmed Aircraft System (CUAS), which can be used to bring down the rogue drone. Apart from that, other ministries and departments are also looking to sign such contracts. However, there have not been many insights on who may end up getting such contracts. One of the possible beneficiaries of this spree is likely to be Israel-based company Smart Shooter, a company that has been developing systems to help militaries track and engage moving targets. Indian Navy had placed an order to <a href="https://theprint.in/defence/navy-orders-israeli-smash-2000-plus-systems-to-tackle-drones-more-contracts-in-offing/562955/">procure </a>an unspecified number of Smart Shooter’s SMASH 2000 Rifle Sights in December 2020. However, the Indian Army wasn’t quite impressed with it after their trials in January 2021. They found that the system may work well for the Navy as they work in open terrain, but it is not feasible for other terrains. This highlighted another major challenge among the counter-drone technology — use cases. The counter-drone system is not a ‘one size fits all’ type of solution and has to be customised based on the criticality of the situation, Aramanamada added. The debate between indigenous or foreign technology remains Prof. P B Sujit, adjunct faculty at School of Engineering and Technology at BML Munjal University, said that the current counter-drone tech is limited and mostly sourced or licensed from other countries. He also noted that there are few Indian startups in the segment as well, but the quality of those solutions is undetermined at the moment. “The trust in Indian developed tech is low. With the history of India importing from Israel, it's natural to import this. Moreover Israel has good tech which has been field tested with Palestine stuff... So the confidence levels are right with the Israel tech,” he added. Apart from the Israeli plan, the government is also on a look out for the technology developed by domestic players and foreign public as well as private sector units, drone original equipment manufacturers, defence tech firms and Defence Research &amp; Development Organisation (DRDO). Indian stand on the counter-drone infrastructure includes only a few players at the moment: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">DRDO anti-drone system was<a href="https://www.drdo.gov.in/sites/default/files/drdo-news-documents/NPC_15-16_Aug_2020.pdf"> first </a>deployed in India in 2020, during various national events including Prime Minister Narendra Modi’s Independence Day speech. However, it is not being used. The device had the capability to detect, intercept and destroy small drones. </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">DRDO also carried out an urgent demonstration of its anti-drone system to armed forces at Kolar, a city in Karnataka, earlier in July 2021. The system has a detection capability of up to four kilometres with ‘soft kill’ option by radio frequency jamming. </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">National Security Guards had <a href="https://www.firstpost.com/india/why-india-needs-israel-as-drone-attacks-become-real-and-threatens-to-be-cataclysmic-9763551.html">awarded </a>a contract worth ₹1.49 crore to Bengaluru-based Accord Software &amp; System for procurement of indigenous Counter Drone Technology System. </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ideaForge has partnered with German tech firm Aaronia AG to develop anti-drone tech devices. However, the solutions have not been deployed on the ground yet. </td></tr></tbody></table> Even though the army and security forces are yet to deploy DRDO’s anti-drone system, Bharat Electronics Limited and three<a href="https://www.hindustantimes.com/india-news/bsf-to-test-drdo-anti-drone-system-on-border-ied-laden-uav-shot-down-in-jammu-101627010670994.html"> undisclosed </a>private companies have signed a technology transfer agreement with the government. The agreement would enable these players to mass-produce the system. SEE ALSO <a href="https://www.businessinsider.in/politics/political-media/news/there-are-at-least-four-hot-issues-in-india-that-the-government-has-no-data-for/articleshow/84820788.cms">There are at least four hot issues in India that the government has no data for</a> <a href="https://www.businessinsider.in/cryptocurrency/news/maharashtra-karnataka-and-telangana-plan-to-use-ethereum-in-their-fight-against-fake-degrees/articleshow/84823688.cms">This Indian startup is using Ethereum to help Maharashtra, Karnataka and Telangana fight against fake degrees</a> <a href="https://www.businessinsider.in/business/news/ola-expands-esop-pool-to-3000-crore-issues-stock-worth-400-crore-to-employees/articleshow/84820171.cms">Ola expands ESOP pool to ₹3,000 crore, issues stock worth ₹400 crore to employees</a>

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