Latest news with #Prosus
Forbes
3 hours ago
- Business
- Forbes
China Market Update: PMIs & Prosus' Meituan Sale Weigh On Markets
Asian equities were mostly lower overnight, as Japan and Pakistan outperformed while Hong Kong and Mainland China underperformed. China released its manufacturing purchasing managers' index overnight in July, which weighed on markets. The reading came in at 49.3, indicating a contraction in manufacturing activity for the fourth consecutive month, a decrease from June's reading of 49.7 and lower than the median forecast of 49.7. However, the Non-Manufacturing (i.e. services) PMI was 50.1, lower than in June but still indicating an expansion in activity. The numbers are not that great, though an expansion in non-manufacturing is what we want to see. Alibaba and Meituan were lower overnight. Amsterdam-listed South African technology investment firm Prosus announced it would be selling its $4 billion stake in Meituan. It sold $250 million overnight in Hong Kong. The firm first purchased Meituan shares for the first time as Naspers, a South African media company, and has also had historical stakes in Alibaba. Meituan's shares were -4.55% lower overnight. The share sale comes at a time when Meituan is experiencing extreme competition in the food delivery space that is its specialty. However, the company has a strong moat, and competition is becoming more measured, at the request of market regulators. Mainland investors were net buyers of Meituan and Alibaba on weakness overnight, for the second day in a row. The dip-buying is good to see! Mainland investors consistently account for over 50% of Hong Kong's turnover, which has been a key development in 2025. While it is good to see the support and interest, foreign investors likely need to come in as well for the Hang Seng to see a new support level. The People's Bank of China (PBOC), China's central bank, took major steps to stabilize the Yuan, keeping it above a higher bar of exchange rate versus the US dollar, overnight, though the currency has remained relatively stable, maintaining its value since tariffs were first announced. New Content Read our latest article: KraneShares KOID ETF: Humanoid Robot Rings Nasdaq Opening Bell Please click here to read
Economic Times
18 hours ago
- Business
- Economic Times
Edtech firm Arivihan raises $4.17 million from Prosus, Accel
ETtech Arivihan, an edtech firm that offers automated, personalised coaching for school students, has raised $4.17 million in a funding round led by Dutch investment firm Prosus and Silicon Valley-based venture capital (VC) firm round also saw participation from GSF Investors. The funds will be used for expansion into three new states, growing its AI research and language support capabilities, and strengthening its on-ground marketing and distribution efforts. 'When we went to tier II cities, we found that 65% of the students were from Hindi-medium backgrounds. There weren't many platforms catering to them, as most didn't offer content or doubt-solving support in Hindi, especially at an affordable price,' cofounder and chief executive Ritesh Singh Chandel told ET. Founded in 2021 by Chandel, Sonu Kumar, and Rushabh Kothari, the Indore, Madhya Pradesh-based company provides a fully automated artificial intelligence (AI)-powered tutoring platform that offers personalised learning through interactive video lessons, instant doubt resolution, and AI-generated study plans in regional languages.'If you use any LLM directly, they are very general. They don't provide answers tailored to our students' syllabus, their level of understanding, or their language. That's why we use our open-source model, which we have fine-tuned with millions of data points derived from our syllabus to suit our students,' he said. The platform answers queries in both Hindi and primarily caters to Class 12 students from tier II and tier III cities and rural areas, offering support for those preparing for State Board exams, CBSE, and NEET. 'We started with the class 12 State Board exam in Madhya Pradesh and received a great response. Then we launched for NEET and saw a similarly positive response,' Chandel said, adding that the company has now begun expanding to Rajasthan and plans to further expand to Uttar Pradesh, Bihar, and company plans to expand its academic team, bring on board experienced NEET faculty, and strengthen its workforce across product, marketing, and engineering roles. This comes amid a broader push by edtech startups to invest in AI, which is driving personalised learning, adaptive assessments, and automated content creation.'In FY25, we sold around 15,000 subscriptions, which generated a revenue of around Rs 3.25 crore…We are resolving a monthly query of around seven lakh with the help of AI with 97% accuracy,' Chandel added. This year, the startup is targeting between 80,000 and one lakh subscribers. The company had earlier raised $750,000 in a previous round from Accel's seed-stage programme, Atoms. Commenting on the investment, Dhruv Gupta, investor at Prosus, said, 'At Prosus, we've been actively exploring breakthrough applications of AI across sectors, and education remains one of the most compelling frontiers.''Edtech in India has long struggled with cookie-cutter solutions and often unsustainable business models. The advent of GenAI changes both dramatically, which has been visible in Arivihan's traction and student outcomes so far,' said Anagh Prasad, investor at Accel. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. As rates slide, who will grab the savings pie? MFs, insurers? Is it time for Tim Cook to bid bye to Apple? Regulators promote exchanges; can they stifle one? Watch IEX Stock Radar: Down over 20% from highs! Varun Beverages stock showing signs of trend reversal – time to buy? History tells us 'Hold' is equal to wealth creation: 11 large- and mid-cap stocks from different sectors with upside potential of up to 37% In some cases parentage equals 'management with ability': 5 mid-caps from different sectors, which tick the right box Multibagger or IBC - Part 17: Margins are slim. Promoters are all in. Is this small cap the ultimate contrarian bet?
Time of India
18 hours ago
- Business
- Time of India
Edtech firm Arivihan raises $4.17 million from Prosus, Accel
Academy Empower your mind, elevate your skills Arivihan, an edtech firm that offers automated, personalised coaching for school students, has raised $4.17 million in a funding round led by Dutch investment firm Prosus and Silicon Valley-based venture capital (VC) firm Accel The round also saw participation from GSF funds will be used for expansion into three new states, growing its AI research and language support capabilities, and strengthening its on-ground marketing and distribution efforts.'When we went to tier II cities, we found that 65% of the students were from Hindi-medium backgrounds. There weren't many platforms catering to them, as most didn't offer content or doubt-solving support in Hindi, especially at an affordable price,' cofounder and chief executive Ritesh Singh Chandel told in 2021 by Chandel, Sonu Kumar, and Rushabh Kothari, the Indore, Madhya Pradesh-based company provides a fully automated artificial intelligence (AI)-powered tutoring platform that offers personalised learning through interactive video lessons, instant doubt resolution, and AI-generated study plans in regional languages.'If you use any LLM directly, they are very general. They don't provide answers tailored to our students' syllabus, their level of understanding, or their language. That's why we use our open-source model, which we have fine-tuned with millions of data points derived from our syllabus to suit our students,' he said. The platform answers queries in both Hindi and primarily caters to Class 12 students from tier II and tier III cities and rural areas, offering support for those preparing for State Board exams, CBSE, and NEET.'We started with the class 12 State Board exam in Madhya Pradesh and received a great response. Then we launched for NEET and saw a similarly positive response,' Chandel said, adding that the company has now begun expanding to Rajasthan and plans to further expand to Uttar Pradesh, Bihar, and company plans to expand its academic team, bring on board experienced NEET faculty, and strengthen its workforce across product, marketing, and engineering roles. This comes amid a broader push by edtech startups to invest in AI, which is driving personalised learning, adaptive assessments, and automated content creation.'In FY25, we sold around 15,000 subscriptions, which generated a revenue of around Rs 3.25 crore…We are resolving a monthly query of around seven lakh with the help of AI with 97% accuracy,' Chandel year, the startup is targeting between 80,000 and one lakh company had earlier raised $750,000 in a previous round from Accel 's seed-stage programme, on the investment, Dhruv Gupta, investor at Prosus, said, 'At Prosus, we've been actively exploring breakthrough applications of AI across sectors, and education remains one of the most compelling frontiers.''Edtech in India has long struggled with cookie-cutter solutions and often unsustainable business models. The advent of GenAI changes both dramatically, which has been visible in Arivihan's traction and student outcomes so far,' said Anagh Prasad, investor at Accel.
The Independent
a day ago
- Business
- The Independent
Just Eat profits dip following fewer takeaway orders
Just Eat has revealed a dip in sales for the current year, indicating that annual earnings for the takeaway giant could be lower than previously thought. The news emerges as the Dutch food delivery firm awaits approval for its €4.1 billion (£3.6 billion) acquisition. For the first half of 2025, total revenues stood at €1.75 billion (£1.51 billion), a slight dip from the €1.78 billion (£1.54 billion) recorded a year prior. Just Eat said there had been a lower volume of orders, but that this had been partially offset by it earning more money from orders and advertising revenues. Gross transaction value (GTV) – the total value of transactions – grew 2 per cent year-on-year, excluding non-European operations. Positively, the UK and Ireland markets saw GTV increase by 3 per cent. Adjusted earnings in these regions, before tax, interest, and other costs, also jumped by a third. The company's financial outlook remains under review as it progresses towards its proposed takeover. However, Just Eat told investors it was expecting GTV and adjusted earnings to be 'at the lower end' of the range forecast by analysts for 2025. GTV is set to grow by between 4 per cent and 8 per cent over the year while earnings are forecast to come in between 360 million euros (£311 million) and 380 million euros (£329 million). Meanwhile, Just Eat has agreed to be taken over by South African -owned firm Prosus, which is an investor in German rival Delivery Hero. The two firms reached a deal earlier this year but shareholders have been given until October to accept the offer while it comes under review by European regulators. Just Eat needs clearance from the European Commission for the tie-up to proceed, with the body expected to give its decision by August 11. When the deal was announced, the firms said Just Eat would continue to be based in Amsterdam under its current name and would maintain its key brands. Prosus said it would be the fourth largest food delivery group in the world following the takeover. Jitse Groen, Just Eat's chief executive and founder, said on Wednesday: 'We see good progress in the expansion of our delivery network and have ramped up our marketing efforts, which we believe are necessary investments to support future growth.'
The Independent
a day ago
- Business
- The Independent
Just Eat sales dip as it warns yearly earnings to be at ‘lower end' of forecasts
Just Eat has revealed a dip in sales this year and said annual earnings could be lower than previously thought, as the takeaway giant awaits approval after agreeing to be bought for 4.1 billion euros (£3.6 billion). The Dutch food delivery firm said it made total revenues of 1.75 billion euros (£1.51 billion) over the first half of 2025. This was slightly lower than the 1.78 billion euros (£1.54 billion) generated over the same period a year ago. Gross transaction value (GTV) – an industry metric for the total value of transactions on platforms, including things like delivery costs – grew by 2% year on year, excluding its operations outside Europe. Just Eat said there had been a lower volume of orders, but that this had been partially offset by it earning more money from orders and advertising revenues. In the UK and Ireland, GTV increased by 3% while its adjusted earnings, before tax, interest and other costs, jumped by a third compared with last year. However, Just Eat told investors it was expecting GTV and adjusted earnings to be 'at the lower end' of the range forecast by analysts for 2025. GTV is set to grow by between 4% and 8% over the year while earnings are forecast to come in between 360 million euros (£311 million) and 380 million euros (£329 million). Meanwhile, Just Eat has agreed to be taken over by South African-owned firm Prosus, which is an investor in German rival Delivery Hero. The two firms reached a deal earlier this year but shareholders have been given until October to accept the offer while it comes under review by European regulators. Just Eat needs clearance from the European Commission for the tie-up to proceed, with the body expected to give its decision by August 11. When the deal was announced, the firms said Just Eat would continue to be based in Amsterdam under its current name and would maintain its key brands. Prosus said it would be the fourth largest food delivery group in the world following the takeover. Jitse Groen, Just Eat's chief executive and founder, said on Wednesday: 'We see good progress in the expansion of our delivery network and have ramped up our marketing efforts, which we believe are necessary investments to support future growth.'
