Aman Milwani

Business Consulting@EY|Chartered Accountant|FRM|CFA Level 3 cleared

[RedboxGlobal India @REDBOXINDIA]

KOTAK MAHINDRA BANK FACES LEADERSHIP TRANSITION AS ASHOK VASWANI RULES OUT EXTENSION

[Tim Cook @tim_cook]

All those affected by the catastrophic earthquake in Venezuela are in our thoughts, and we thank the first responders for helping everyone in harm's way. Apple will be donating to relief efforts on the ground.

[Dhanesh Gianani @dhanesh500]

A lot of Cred employees are about to see life changing money.

The ESOP pool is estimated to be worth around 300-400 cr in 2026

That’s insane growth in under 8 years

This has been a feature across most new-age companies of India

[Madhav Chanchani @madhavchanchani]

Meta is not getting a board seat at Cred despite acquiring a 20% stake as part of this investment.

Meta has not been a particularly active investor in India, so this investment appears to be more about bringing Kunal Shah on board.

Before this deal, Meta had backed Meesho and Unacademy in 2019 and 2020 + invested $5.7 bn in Jio Platforms in 2020.

[RedboxGlobal India @REDBOXINDIA]

META JUST INVESTED NEARLY USD 1 BILLION IN CRED AND MADE ITS FOUNDER THE CEO OF WHATSAPP

[Chandra R. Srikanth @chandrarsrikant]

Contours of CRED and Meta deal, now confirmed and official..Meta says it won't receive access to Cred customer information

CRED will raise ₹8,550 crore (~US$900 million) in its Series H funding round led by Meta

Investment will be structured through a mix of primary and secondary share purchases.

Valuation

Post-money valuation: ₹43,239 crore (~US$4.5 billion).

Pre-money valuation: ₹38,819 crore (~US$4.03 billion).

Meta's Investment

Meta will join CRED's cap table as a minority investor.

Meta will not receive access to CRED customer information.

CRED Business Highlights

Serves 1.7 crore (17 million) members monthly.

Offers products across:

Payments

Lending

Insurance

Wealth management

Lifestyle services

Processes over 40% of credit card bill payments in India.

Has built the category over the past 8 years.

Lending business has grown to ₹24,000 crore (~US$2.5 billion+) managed AUM for leading financial institutions.

Use of Funds

Accelerate growth.

Strengthen organizational and institutional capabilities.

Expand leadership across existing and new categories.

Leadership Changes

Kunal Shah will step down from his operating role as CEO.

He will retain his personal shareholding in CRED.

Kunal will transition to Meta's global leadership team.

Miten Sampat will become Interim CEO, effective immediately.

The board is working on a long-term leadership structure in preparation for an eventual IPO.

Kunal Shah's Key Remarks

Founded CRED in 2018 to reward creditworthy consumers.

CRED has grown into:

A new financial services category.

A platform with millions of members.

A business generating approximately ₹3,200 crore (~US$325 million) in revenue.

A profitable company with a full stack of licenses and a strong brand.

Expressed confidence in the team’s ability to continue scaling the company.

[Kalshi @Kalshi]

JUST IN: Tesla and Meta are no longer in top 10 largest companies

[Vishal Bhargava @VishalBhargava5]

Growth Superstars
There was once BRIC: Brazil, Russia, India, China
Then there was FAANG: Facebook, Apple, Amazon, Netflix, Google
In the Mumbai Real estate context there is now AJA: Adani, JSW, Ambani

[Kushan Mitra @kushanmitra]

TCS sure can choose losers

[@Indiagrowing 🇮🇳 @Theindiagrowing]

🚨 Nike India Technology Center Private Limited has leased more than 1.25 lakh sq ft of office space at Bagmane Tech Park, Bengaluru in a ₹121 crore deal.

Source: Hindustan Times
🔗 https://t.co/VrUbsArP1d

[BRICS News @BRICSinfo]

JUST IN: 🇯🇵 Japan signs nuclear deal with Rolls Royce to build modular reactors.

[Aviral Bhatnagar @aviralbhat]

Reliance generates $120B of revenue, $10B of profit and is valued at $170B or ~1.5x revenue

SpaceX generates $18B of revenue, $5B of loss and as is valued at $1.7T or ~100x revenue

Selling a dream to the moon by perhaps today's greatest fundraiser takes the stock to the moon

[sandip sabharwal @sandipsabharwal]

#Eternal and #Swiggy unable to take the pressure of another loss leader coming out with its IPO i.e. #Zepto

How many continuously loss making businesses raising money at crazy valuations first during the IPO and then continued sales by old PE investors can the market take...

[Vishal Bhargava @VishalBhargava5]

Stock Markets have been talking about "consolidation" in real estate for a few years now. They believed top builders will gain a lot of market share.
It's happening.
But the beneficiaries are not the ones they had in their list.

[Josh Kaplan @js_kaplan]

NEW: Earlier this year, an obscure startup in Texas announced that it had received at least $100 mil from one of the richest men in Asia.

We dug into the backstory. We discovered a saga involving Donald Trump Jr., Russian oil, and an Indian billionaire family’s private zoo.

[Prawin Ganeshan @PrawinGaneshan]

Recently, Nandan Nilekani has purchased 2500+ acres of property in the Nilgiris.

Seller was from UK,This property was dropped by Adani's in the last minute

[Vishal Bhargava @VishalBhargava5]

One major but under-mentioned trend that Oberoi Realty can alter in Gurgaon is: Talk “carpet area” and ONLY “carpet area” to buyers.

No major builder in Gurgaon has had the courage to do it. Almost every broker will warn him not to do it.

It’s yet a worthy shot to take.

[RedboxGlobal India @REDBOXINDIA]

SPACEX PUSHES BANKS FOR ONE OF THE LOWEST IPO FEE RATES EVER

[sandip sabharwal @sandipsabharwal]

#ITC and #HDFCBank have been the biggest (value) traps for Indian Investors over the last few years

Too much of retail money has continued to go into these stocks

[Uday Kotak @udaykotak]

Google which is cash surplus, just announced an additional capital raise of $80 bn.
Google annual profit is $160 bn, last quarter $62 bn, and market cap $4.5 trillion. That is close to total profits and market cap of all Indian listed companies put together.
It’s a wake up call to all companies to invest into the future, whatever the present maybe.
Now that IPL is done and dusted, time for India to focus on business of business.