Get the latest tech news
PharmEasy investor cuts value of its stake drastically, implying new valuation of $456M
Indian online pharmacy PharmEasy's valuation now stands at about $456 million, according to disclosures from its investor Janus Henderson, a 92% drop from Indian online pharmacy PharmEasy's valuation now stands at $456 million, a 92% drop from its peak valuation of $5.6 billion.
Depending on the terms, shareholders can also be wiped out of their previous ownership structures if they don’t participate in a rights issue. It then turned to debt financing, including a $300 million loan from Goldman Sachs that proved problematic as the company struggled with repayment and raising new equity in a deteriorating market. Manish Singh is a senior reporter at TechCrunch, covering India’s startup scene and venture capital investments.
Or read this on TechCrunch
