Coming soon · Episode 01
India’s New Unicorns Look Huge, Until You Put Them Next to Revolut
Zepto, PhonePe, Meesho, PhysicsWallah and Ola Electric look huge on a term sheet. Set them next to Revolut, marked at about $115 billion, and the scale changes.
Most business videos tell you how a founder felt. We tell you where the money went. This episode follows the cash behind India’s new high-flyers, and what public markets have already been willing to pay.
A last-round valuation is a mark investors agreed to at a point in time. It is not the same thing as cash from customers.