$970M Valuation Jump for Bluestone, CRED Partners L&T, and More
In our Sixty-second D2C Insider edition, explore how L&T Finance Partners with CRED to Launch Co-Lending Service, Walmart Sells JD.com Stake to Refocus on China Operations and more!
Welcome to the latest edition of D2C Insider Digest, packed with everything you need to stay on top of the D2C game.
In today’s newsletter you’ll find:
L&T Finance, a prominent non-banking financial company (NBFC), has entered into a strategic partnership with the fintech platform CRED and Newtap Finance Private Ltd. to introduce a new co-lending service.
Key Highlights:
Launch of CRED Cash: As a result of this partnership, CRED members will get access to CRED Cash— a feature that allows users to quickly obtain unsecured personal loans.
Seamless User Experience: The loans can be secured in just minutes, featuring flexible repayment options and competitive interest rates, making the borrowing process straightforward.
Strategic Growth and Expansion: This collaboration marks L&T Finance's entry into the co-lending space, supporting its broader goal of increasing its presence in digital lending.
Sudipta Roy, CEO of L&T Finance, highlighted the impact of this partnership, stating that it will set a new benchmark in customer-focused lending.
BlueStone, a leading online jewellery retailer, has raised ₹900 crore in a pre-IPO funding round, doubling its valuation to $970 million.
Key Points:
Valuation Surge: The pre-IPO round has significantly boosted BlueStone’s valuation to nearly $1 billion, reflecting strong investor confidence in the company’s business model and growth.
IPO Preparations: This funding round is part of BlueStone’s strategic move to strengthen its financial position ahead of its IPO. The company aims to use the fresh capital to expand its operations and market presence.
Investor Interest: The round saw participation from both existing and new investors, underscoring the growing interest in the online jewellery space.
Market Position: BlueStone’s impressive growth and rising valuation position it as a key player in the online jewellery sector, which is experiencing rapid expansion driven by the consumer shift towards online shopping and a preference for contemporary designs.
Walmart has sold its entire $3.7 billion stake in JD.com, ending an eight-year investment in the Chinese e-commerce giant. The decision comes as Walmart aims to focus on strengthening its own operations in China.
Key Points:
Strategic Shift: Walmart is refocusing capital on its core Chinese operations, including Walmart China and Sam's Club due to intense competition in the e-commerce market.
Continued Cooperation: Despite the sale, Walmart will maintain a commercial relationship with JD.com, continuing to sell Walmart goods on JD's platform.
Market Impact: JD.com shares dropped nearly 9% in Hong Kong and 5% in the U.S. following the announcement, reflecting market concerns as the company faces challenges from rivals like Alibaba and Pinduoduo.
Historical Context: Walmart initially invested in JD.com in 2016 by exchanging its Chinese online grocery store Yihaodian for a 5% stake, later increasing its holdings to over 10%.
Exotel, a prominent cloud communication platform, has recently experienced a data breach, raising concerns over the security of customer information.
Key Points:
Breach Impact: The data breach has compromised sensitive customer information, including contact details and communication records.
Company Response: Exotel has acknowledged the breach and is working closely with cybersecurity experts to contain the situation and mitigate further risks.
User Concerns: The breach has sparked concerns among Exotel’s customers about the safety of their data. The company is under pressure to restore trust and provide assurances that such incidents will not recur.
Industry Implications: This incident highlights the growing risks associated with data security in the telecommunications sector, where sensitive customer data is increasingly targeted by cybercriminals.
Funding Update
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Dhruv Toshniwal, CEO of The Pant Project, shares his insights on why 'Made in India' is a valuable advantage for Indian brands.
He said, "While countries like China, Vietnam, Sri Lanka, and Bangladesh have their roles in global manufacturing, I believe that the best path for Indian brands to grow is to Make in India, for India.”
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D2C Brands Are Struggling. With less VC funding and high marketing costs, direct-to-consumer brands are facing tough times. Check out tips on cutting costs, reaching more customers, and teaming up for survival.
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