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Tag: Morgan Stanley

  • Anuja Trivedi named chief strategy and marketing officer as Shemaroo eyes next phase

    Anuja Trivedi named chief strategy and marketing officer as Shemaroo eyes next phase

    MUMBAI: Shemaroo Entertainment has expanded the remit of Anuja Trivedi, elevating her to chief strategy and marketing officer (CSMO). In addition to leading marketing, she will now head the central strategy team, cementing the company’s sharper focus on long-term growth, integrated brand positioning and closer consumer alignment.

    Since joining as chief marketing officer in 2023, Trivedi has driven brand growth and boosted visibility for Shemaroo’s TV, OTT and digital platforms. In her expanded role, she will spearhead strategic initiatives and work with cross-functional leaders to unlock synergies across the group’s diverse business verticals.

    She brings broad experience spanning strategy, revenue and content, with stints at Disney Star, World Gold Council (WGC), McKinsey & Company, Morgan Stanley and PwC. At Disney Star, she shaped content strategy for TV and digital, driving Disney+ Hotstar subscriptions and improving TV market share in key genres.

    “Anuja’s role expansion comes at a time when we are sharpening our strategic priorities to stay ahead in an evolving media and entertainment ecosystem,” said chief executive of Shemaroo, Hiren Gada. “Her deep understanding of consumer behavior, market dynamics, and business transformation will be instrumental as we move into our next phase of growth.”

    Chief operating officer of Shemaroo, Arghya Chakravarty added, “Over the last two years, Anuja has been instrumental in shaping Shemaroo’s brand story. Her expanded role reflects our belief in her ability to bridge strategy with execution, drive cross-functional alignment, and keep the consumer at the center of all decisions.”

    With Trivedi’s new mandate, the brand is amplifying its bet on strategy-led brand building and future-ready planning as it caters to the changing tastes of Indian and global audiences.

  • Shadowfax files for IPO via confidential route, aims Rs 2,000-2,500 crore fundraise

    Shadowfax files for IPO via confidential route, aims Rs 2,000-2,500 crore fundraise

    MUMBAI: Bengaluru-based logistics firm Shadowfax Technologies Ltd has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) through the confidential route, signalling its plans to go public. The move comes roughly three months after the company transitioned into a public entity.

    Shadowfax is aiming to raise between Rs 2,000 crore and Rs 2,500 crore through the initial public offering, which will comprise a fresh issue of shares and an offer for sale (OFS) by existing investors. Key backers including Flipkart, Eight Roads Ventures, and NGP Capital are expected to dilute part of their holdings through the OFS component.

    ICICI Securities, JM Financial, and Morgan Stanley are acting as lead advisors to the issue. The company is targeting a post-listing valuation in the range of Rs 5,500–6,000 crore, according to individuals familiar with the development. As per TheKredible, Shadowfax was last valued at approximately Rs 5,981 crore ($712 million) during the first tranche of its Series F funding round earlier this year.

    Founded in 2015 by Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, Shadowfax operates in the last-mile logistics segment, serving e-commerce and hyperlocal categories such as grocery, food, and pharmaceuticals. The company claims a network of over 1.25 lakh monthly active delivery partners across India.

    To date, Shadowfax has raised around $246 million in equity funding. Eight Roads Ventures remains the largest external investor, followed by Flipkart, NewQuest Asia, and Nokia Growth Partners.

    Financially, the company reported revenues of Rs 1,885 crore in FY24, marking a 33.2 per cent year-on-year growth. It also significantly narrowed losses—from Rs 142 crore in FY23 to Rs 11.8 crore in FY24, representing a 91 per cent reduction.

    Shadowfax now joins a growing list of Indian startups eyeing public listings. Recent confidential DRHP filers include PhysicsWallah, boAt, Urban Company, Shiprocket, Groww, Pine Labs, Capillary Technologies, Wakefit, and Curefoods, underlining a renewed momentum in India’s startup IPO pipeline.

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  • Phonepe prepares for IPO, targets $15 billion valuation with top banks

    Phonepe prepares for IPO, targets $15 billion valuation with top banks

    MUMBAI: Phonepe is gearing up for its stock market debut, enlisting J.P. Morgan, Kotak Mahindra Bank, Morgan Stanley, and Citi to oversee its IPO. The fintech firm, backed by Walmart, is eyeing a valuation of up to $15 billion as it plans to list on Indian stock exchanges.

    Marking a decade in business, Phonepe has restructured its corporate framework, consolidating its various divisions into wholly owned subsidiaries. This strategic move, coupled with robust financial growth, positions the company favourably for public listing.

    Phonepe has reported over 70 per cent revenue growth in the past fiscal year while narrowing net losses and achieving an adjusted post-tax profit. A sharp focus on automation, operational efficiency, and cost management has reinforced its financial stability.

    With a strong user base and innovative digital solutions, Phonepe aims to sustain its strong position in India’s fintech space. As it advances towards the IPO, the company remains committed to scaling its business and driving long-term profitability in the evolving digital payments sector.

  • Sonam Chopra elevated to vice president, talent acquisition at Morgan Stanley

    Sonam Chopra elevated to vice president, talent acquisition at Morgan Stanley

    MUMBAI: Sonam Chopra, a seasoned HR professional with over a decade of experience in talent acquisition and human resource management, has been appointed vice president, talent acquisition (non-technology) at Morgan Stanley.

    Having been with Morgan Stanley for over seven years, Chopra previously served as director, talent acquisition, and talent acquisition lead, where she played a pivotal role in developing recruitment strategies, identifying top-tier talent, and aligning HR initiatives with business goals.

    Before joining Morgan Stanley, she held leadership positions at Blend Financial Services, where she managed HR operations for a global workforce, and AIMS International, where she specialised in executive search for BFSI and e-commerce sectors. Her extensive experience also includes leadership hiring across industries such as IT, infrastructure, real estate, and commodity trading at Positive Moves.

    In her new role, Chopra will lead strategic talent acquisition initiatives, drive diversity and inclusion efforts, and continue enhancing Morgan Stanley’s employer brand to attract top talent in the financial sector.

    Expressing her excitement about the new role, Chopra shared, “I look forward to shaping the next phase of talent acquisition at Morgan Stanley and continuing to build a strong, dynamic workforce aligned with the firm’s vision.”

  • Why Disney-Star India aligned with Reliance?

    Why Disney-Star India aligned with Reliance?

    MUMBAI: What was the rationale behind Disney Star India’s decision to align with the Mukesh Ambani-led Reliance Industries? Speaking at the Morgan Stanley Technology, Media & Telecom Conference in the US on 5 March (during a question and answer session,) Disney CEO Bob Iger, gave some insights.

    First he said the mouse house wanted to stay in India. “We made a big investment in India when we purchased the assets of 21st Century Fox. We’re one of the biggest media companies in India. But even though it’s the most populous country in the world, and we felt we want to be there because of that, we also know that there are challenges in that market.”

    He added that the company got a chance to align with Reliance, and he grabbed it fast. “(It) …is obviously the company that has done very well there and one that we respect. And in doing so, end up owning part of a bigger media company. And we believe that, that not only should benefit us in terms of the bottom-line, but derisk us as well there.”

    “So, it’s kind of the best of both worlds. We stay in the market at a significant level. We have a very good partner in Reliance, and we get to have a chance of growing a business and lowering the risk of doing so,” he concluded.

    Now it’s up to time and the new structure to prove whether these reasons were well-founded. 

  • Disney+ Hotstar’s Indian entertainment content is underappreciated: Disney CFO

    Disney+ Hotstar’s Indian entertainment content is underappreciated: Disney CFO

    Mumbai: The Walt Disney Company SVP and CFO Christine McCarthy said that Disney+ Hotstar owes a large part of its success to live cricket, but the Indian streaming giant’s entertainment content is underappreciated. The Disney executive was addressing the Morgan Stanley Technology, Media and Telecom Conference 2022 on Tuesday.

    “India is a big market. There’s a lot of focus on the IPL. Disney+ Hotstar users enjoy the current IPL sports program on the platform. But they also enjoy a lot of other sports programming, whether it’s other cricket rights, other international sports. Something that’s very underappreciated is the amount of general entertainment and the quality of that entertainment and viewership in the Indian market,” McCarthy told Morgan Stanley analyst Ben Swinburne.

    She further added, “In 2021, of the 15 top viewed series on direct-to-consumer, nine of those came from Disney+ Hotstar. So, there’s content that people are going to view just like here in the United States, a lot of people view sports, sports is something that’s a very popular type of content to consume, but they also consume other types of content. And, so, when you think about the number of hours and the quality of the content that is being produced in the Disney+ Hotstar originals, that’s something we’re very proud of. And we think that that will continue to make that business one that consumers will engage in.”

    When asked if Disney+ would be able to achieve its 2024 guidance, McCarthy stated, “I know some people were skeptical on our last earnings call when we said that we could still make our guidance and this actually related to something in India regarding the IPL. But we feel good about where we are with that 230 million to 260 million Disney+ subscribers by 2024.”

    The Disney executive also said that the company is not only looking at subscriber growth but also profitability. “And we like those two because we think it injects the right kind of tension for really managing the business. We’re driving towards that, and we feel really good because of the content that we have; the brands we have, the intellectual property we have to work with. And once again, we’re learning more.”

  • Jio Platforms to invest $200 million in AI-powered Glance

    Jio Platforms to invest $200 million in AI-powered Glance

    Mumbai: AI-driven lock-screen platform Glance has announced that it has agreed to raise $200 million from Jio Platforms (“Jio”) in its Series D round of funding. The transaction is subject to the satisfaction of customary closing conditions and regulatory approvals.

    The proposed investment by Jio is aimed at accelerating Glance’s launch in several key international markets outside of Asia such as the USA, Brazil, Mexico and Russia. The company is aiming to create the world’s largest live content and commerce ecosystem on the lock screen and will use the funds raised to expand globally. In addition to Jio Platforms, Glance is also backed by technology giant Google and Silicon Valley-based venture fund Mithril Capital.

    Concurrent with the proposed investment, Glance has also entered into a business partnership arrangement with Reliance Retail Ventures (“Reliance Retail”), providing for Glance’s ‘lock screen platform’ to be integrated into the JioPhone Next smartphones to transform the internet experience for millions of Jio users. This is the latest in a series of strategic partnerships between Glance and global players in the mobile ecosystem. The deal is also expected to lead to further strategic collaborations between Glance, Reliance Retail, and Jio across devices, commerce, content and gaming ecosystem.

    Glance will be integrated into the Pragati OS, which has been co-developed by Jio Platforms and Google, to bring LIVE content on Lock Screen for millions of Jio users. Its entertainment-led commerce platform Roposo will bring the power of live creator commerce to Jio users on their lock screen.

    Jio Platforms director Akash Ambani said, “Glance has grown at a phenomenal pace over the past two years and has given users a truly unique solution by unlocking the power of the lock screen for experiencing the internet, live content, creator-driven entertainment commerce, and gaming. With the help of this investment, Glance expects to launch in several key markets globally as well as to extend the experience to millions of Jio users, further reinforcing our commitment to provide the most advanced and next-level tech and digital ecosystem for consumers in India and beyond.”

    InMobi Group founder and CEO Naveen Tewari added, “Jio’s investment in Glance brings a deep synergy of vision and philosophy. Jio is a truly disruptive company. It made the internet accessible for millions of users, making India one of the largest internet markets in the world. Reliance is now disrupting the smartphone market with the launch of its JioPhone Next smartphones. Jio’s investment in Glance and Glance’s presence on the lock screen of JioPhone Next smartphones will lead to a paradigm shift in how its users experience the internet.”

    “Glance has created a disruptive lock screen-first discovery platform for live content, commerce and gaming in Asia, and we intend to scale it globally going forward,” shared InMobi Group co-founder and Glance president and COO Piyush Shah. “Jio’s investment is a huge validation of this vision and gives us the firepower to take the innovative experience of Glance to surfaces across the world. We look forward to working with Jio to build the content, creator and commerce ecosystem of the future together.”

    Morgan Stanley acted as the exclusive financial advisor and Khaitan & Co. acted as the legal counsel to Glance. White & Case and K Law acted as the legal counsels and Ernst & Young provided accounting and tax due to diligence services to Jio Platforms.

  • MGM Studios explores prospect of sale

    MGM Studios explores prospect of sale

    NEW DELHI: Iconic Hollywood studio MGM has appointed two investment banks to explore the prospect of a sale, The Wall Street Journal has reported. For the record, there have been talks in the market about MGM being sold for several years now, all of which have failed to materialise.

    MGM, currently valued at $5.5 billion, has brought onboard Morgan Stanley and LionTree LLC as consultants on the process of a formal sale. The studio is owned by hedge funds Anchorage Capital, Highland Capital and Solus Alternative Asset Management, who acquired the company out of bankruptcy in 2010. The acquisition reportedly cost $10 billion but the onslaught of the novel Coronavirus has further devalued the legacy production company, which has a chequered history when it comes to its financial well-being. MGM also gave the pink slip to at least 50 employees and furloughed a third of its staff in April due to the economic fallout from Covid2019.

    In fact, the next instalment of its blockbuster James Bond franchise, No Time to Die, has been delayed several times due to the pandemic, and is now slated for an April 2021 release. However, industry pundits forecast the movie will be pushed back further because people are not going to theatres, as evidenced by the lukewarm response to the international release of Warner Bros’ superhero flick Wonder Woman 1984.

    As streaming gained rapid momentum, MGM held preliminary talks with Apple, Netflix and other global media companies about an acquisition earlier this year. It’s no secret that these OTT giants are continually looking to bolster their libraries to slake audiences’ thirst for more content, in their quest to dominate the streaming arena. And MGM, one of the oldest studios in Tinseltown, has a lot to offer.

    MGM owns the entire James Bond catalogue. On the TV side, the company's library includes popular police procedural Live PD, Vikings, Fargo and The Handmaid's Tale, which streams on Hulu. It also owns premium cable network Epix. The studio’s film reel is even more impressive, with over 4,000 titles including hit film franchises like Rocky and The Hobbit, as well as The Silence of the Lambs, The Magnificent Seven, Mad Max, and Four Weddings and a Funeral. 

  • Microsoft to acquire LinkedIn for USD 26.2 billion

    Microsoft to acquire LinkedIn for USD 26.2 billion

    MUMBAI: What comes as a major development in the technology and social media space, tech giant Microsoft has announced its plan to acquire LinkedIn, the social network that connects professionals by the end of this financial year. The company will buy LinkedIn’s shares priced at $196 in an all cash transaction amounting the acquisition to $26.2 billion, which includes LinkedIn’s liquidity as well.

    The acquisition will not affect LinkedIn’s branding, work culture and independence, with its CEO Jeff Weiner retaining his position and reporting to Microsoft CEO Satya Nadella.

    “The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals,” Nadella has said at a press conference announcing the development. “Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet,” he added.

    In the past one year LinkedIn has shown great growth trajectories ranging around 19 percent growth year over year (YOY) and expanded its network base to more than 433 million members worldwide. The social media platform had released a new mobile friendly version and acquired learning platform Lynda.com to add to its services.

    “Just as we have changed the way the world connects to opportunity, this relationship with Microsoft, and the combination of their cloud and LinkedIn’s network, now gives us a chance to also change the way the world works,” Weiner said, supporting the acquisition. “For the last 13 years, we’ve been uniquely positioned to connect professionals to make them more productive and successful, and I’m looking forward to leading our team through the next chapter of our story.”

    “Today is a re-founding moment for LinkedIn. I see incredible opportunity for our members and customers and look forward to supporting this new and combined business,” said LinkedIn co founder Reid Hoffman . “I fully support this transaction and the Board’s decision to pursue it, and will vote my shares in accordance with their recommendation on it.”

    To carry this high profile M & A forward, Morgan Stanley is acting as exclusive financial advisor to Microsoft, and Simpson Thacher & Bartlett LLP is acting as legal advisor to Microsoft. On the other hand Qatalyst Partners and Allen & Company LLC are acting as financial advisors to LinkedIn, while Wilson Sonsini Goodrich & Rosati, Professional Corporation, is acting as legal advisor.

    Microsoft will finance the transaction primarily through the issuance of new indebtedness. Upon closing, Microsoft expects LinkedIn’s financials to be reported as part of Microsoft’s Productivity and Business Processes segment. Microsoft expects the acquisition to have minimal dilution of ~1 percent to non-GAAP earnings per share for the remainder of fiscal year 2017 post-closing and for fiscal year 2018 based on the expected close date, and become accretive to Microsoft’s non-GAAP earnings per share in Microsoft’s fiscal year 2019 or less than two years post-closing.

    In addition, Microsoft also reiterated its intention to complete its existing $40 billion share repurchase authorization by Dec. 31, 2016, the same timeframe as previously committed. Microsoft and LinkedIn will host a joint conference call with investors on June 13, 2016, at 8:45 a.m. Pacific Time/11:45 a.m. eastern time to discuss the transaction in detail.

    (Source: Microsoft Media Release)

  • Microsoft to acquire LinkedIn for USD 26.2 billion

    Microsoft to acquire LinkedIn for USD 26.2 billion

    MUMBAI: What comes as a major development in the technology and social media space, tech giant Microsoft has announced its plan to acquire LinkedIn, the social network that connects professionals by the end of this financial year. The company will buy LinkedIn’s shares priced at $196 in an all cash transaction amounting the acquisition to $26.2 billion, which includes LinkedIn’s liquidity as well.

    The acquisition will not affect LinkedIn’s branding, work culture and independence, with its CEO Jeff Weiner retaining his position and reporting to Microsoft CEO Satya Nadella.

    “The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals,” Nadella has said at a press conference announcing the development. “Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet,” he added.

    In the past one year LinkedIn has shown great growth trajectories ranging around 19 percent growth year over year (YOY) and expanded its network base to more than 433 million members worldwide. The social media platform had released a new mobile friendly version and acquired learning platform Lynda.com to add to its services.

    “Just as we have changed the way the world connects to opportunity, this relationship with Microsoft, and the combination of their cloud and LinkedIn’s network, now gives us a chance to also change the way the world works,” Weiner said, supporting the acquisition. “For the last 13 years, we’ve been uniquely positioned to connect professionals to make them more productive and successful, and I’m looking forward to leading our team through the next chapter of our story.”

    “Today is a re-founding moment for LinkedIn. I see incredible opportunity for our members and customers and look forward to supporting this new and combined business,” said LinkedIn co founder Reid Hoffman . “I fully support this transaction and the Board’s decision to pursue it, and will vote my shares in accordance with their recommendation on it.”

    To carry this high profile M & A forward, Morgan Stanley is acting as exclusive financial advisor to Microsoft, and Simpson Thacher & Bartlett LLP is acting as legal advisor to Microsoft. On the other hand Qatalyst Partners and Allen & Company LLC are acting as financial advisors to LinkedIn, while Wilson Sonsini Goodrich & Rosati, Professional Corporation, is acting as legal advisor.

    Microsoft will finance the transaction primarily through the issuance of new indebtedness. Upon closing, Microsoft expects LinkedIn’s financials to be reported as part of Microsoft’s Productivity and Business Processes segment. Microsoft expects the acquisition to have minimal dilution of ~1 percent to non-GAAP earnings per share for the remainder of fiscal year 2017 post-closing and for fiscal year 2018 based on the expected close date, and become accretive to Microsoft’s non-GAAP earnings per share in Microsoft’s fiscal year 2019 or less than two years post-closing.

    In addition, Microsoft also reiterated its intention to complete its existing $40 billion share repurchase authorization by Dec. 31, 2016, the same timeframe as previously committed. Microsoft and LinkedIn will host a joint conference call with investors on June 13, 2016, at 8:45 a.m. Pacific Time/11:45 a.m. eastern time to discuss the transaction in detail.

    (Source: Microsoft Media Release)