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Prosus To Double Down On Urban Company Via Secondary Deal Prosus to Double Down on Urban Company Investment: Prosus Ventures is reportedly planning to invest $30 Mn in hyperlocal services startup Urban Company through a secondary deal, ahead of its anticipated IPO next year. Partial Exit for Bessemer Venture Partners: The investment will give Bessemer Venture Partners a partial exit, with the secondary transaction taking place at a $2.6 Bn valuation. Accel & Elevation Capital Hold Off on Stake Sales: While Accel and Elevation Capital considered selling larger stakes, they have decided to wait until Urban Company's IPO for any further transactions. Urban Company’s Financial Performance: Urban Company posted a loss before tax of INR 93 Cr for FY24, a 70% decrease from the previous year, while its net revenue increased 30% YoY to INR 827 Cr. Previous Funding and Exits: Urban Company previously raised $50 Mn in July through a secondary deal, allowing early investors like Titan Capital to exit with INR 111 Cr. Read More: https://lnkd.in/gAx2xbi7

Prosus To Double Down On Urban Company Via Secondary Deal - StartupNews.fyi - Startup & Technology News

Prosus To Double Down On Urban Company Via Secondary Deal - StartupNews.fyi - Startup & Technology News

https://startupnews.fyi

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