VerSe, Dailyhunt's parent company, sees a 42% drop in valuation, according to 360 One investor estimates
In a recent update to investors, wealth and asset manager 360 One revealed that it values Indian tech and media startup VerSe at $2.9 billion, significantly lower than its previous $5 billion valuation. The company, backed by investors such as Ontario Teachers’ Pension Plan, CPP Investments, and Goldman Sachs, has experienced a downward valuation adjustment in line with a global trend of investors marking down the value of their startup holdings.
The update also included a valuation increase for NSE, India's largest exchange, now valued at $29.9 billion. This shift in valuations reflects the changing landscape of the investment market, with companies like Fidelity adjusting the value of their stakes in various startups, including X and Gupshup.
While the decrease in VerSe's valuation may seem concerning, it's important to note that the company has made significant strides in improving its financials since its last funding round. With recent acquisitions and strategic partnerships, VerSe is poised for growth and increased revenue in the future.
Overall, this update from 360 One provides valuable insights into the current state of the investment market, highlighting both the challenges and opportunities facing startups and investors. By staying informed and understanding the factors influencing valuation adjustments, individuals can make more informed decisions about their finances and investments.