Online stock market and mutual fund investment platform, Groww, has probably found its most high profile angel investor. Groww’s co-founder & CEO Lalit Keshre announced on Saturday that Microsoft chief Satya Nadella has joined the company as its new investor. Nadella will also act as the advisor to the Bengaluru based company.

Mr. Keshre made the announcement on his twitter handle. But he did not announce the exact quantum of investment that Nadella has made in the company. It seems that Nadella has made investment in his personal capacity. To the best of our knowledge, this is Nadella’s first investment in Indian startups in his personal capacity.  

This is Gorww’s first investment of 2022. The Bengaluru based company had raised two big ticket funding rounds last year. In April, it raised $83 Mn at little over $1 Bn valuation, propelling the company to India’s rapidly ballooning unicorn club. This was followed by Series E round in October when it raised $251 Mn at valuation of roughly $3 Bn.

The startup counts several big names as its investor. This includes the likes of Sequoia Capital, Tiger Global, Y Combinator, Lone Capital and Ribbit Capital among others.

Groww was founded in 2016 by four ex-Flipkart executives – Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal. The platform especially helps the millennial crowd and smartphone generation in making online investment in stocks and mutual funds.

What possibly works for Groww and its competitors is the fact that appetite of Indian people, especially, the millennial crowd is growing steadily. The last year’s stock market rally has only helped in further augmenting people’s interest in the stock market.

Groww competes with Tiger Global backed Upstox, bootstrapped Zerodha and Paytm Money. Interestingly, Tiger Global is a mutual investor in both Upstox and Groww.                

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1)

Joe Biden mounts challenge against Big Tech

America’s President Joe Biden has signed barrage of executive orders in a bid to throttle anti-competitive practices of big tech companies. Although these orders have many other ramifications, the big focus continues to be on big tech companies. The White House, according to media reports, said that it wants  a competitive environment that is conducive for smaller players. The growing concern about big tech’s growing domination that goes beyond the standard business practices has equally spooked the White House.

2)

The space tourism war between Branson and Bezos gets bit spicy

A bitter PR war has erupted between Blue Origin and Virgin Galactic – the two space companies owned by billionaires Jeff Bezos and Richard Branson respectively. The bitter war started ever since it came to light that Branson will be flying to space nine days before Bezos. Blue Origin has been making many murmurs in the media as well as on Twitter in an apparent bid to discredit Virgin Galactic’s spacecraft. Virgin Galactic has so far maintained a comparative silence over this matter. To know more, click here.

3)

Satya Nadella deserves to be Microsoft’s chairman as well

Microsoft’s CEO Satya Nadella has every right to earn a ‘Chairman’ seat in Microsoft’s board of directors team. This positive view has been expressed by Microsoft’s former Chairman John Thompson. Thompson argued that ever since  Nadella’s coronation as the CEO Microsoft has witnessed resurgent growth and its future prospects look pretty bright.  Today Microsoft’s valuation stands at around $2 trillion.

4)

China’s latest crackdown on Big Tech companies

After mounting substantial regulatory problems for Alipay and Didi Chuxing, China has turned the screws on another big technology company, Tencent. Reports in Chinese media claims that Tencent’s plan to merger two video gaming websites has hit into regulatory problems. China’s watchdog regulator is likely to block this merger. This will be seen as China’s latest move in its ongoing crackdown against big tech companies.

5)

TikTok turns to automation to remove controversial content

TikTok on Friday announced that it will resort to more automated technology to remove content from platform that violates its community guidelines.  The company said that it will start removing  problematic content automatically from next week. The use of more automated technology will make its process removing violated content more refine and efficient, TikTok said in its official statement.

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