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BuzzFeed Sells Hot Ones Brand First We Feast in $82.5 Million Sale

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BuzzFeed Sells Hot Ones Brand First We Feast in $82.5 Million Sale

The popular food-centered brand First We Feast behind the YouTube interview show Hot Ones has been sold by BuzzFeed for $82.5 million to a group of investors. 

According to a statement released on Thursday, the buyers consist of an affiliate of Soros Fund Management, the progressive podcast platform Crooked Media, and Mythical Entertainment, the media company founded by YouTube stars Rhett and Link.

The Future of the Brand Behind ‘Hot Ones’ 

The company behind the viral show would reportedly retain its senior executive team & founder Chris Schonberger will become chief executive officer. 

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The new CEO said: “What began as a humble food blog has evolved into a powerhouse multi-platform brand,” “With new investment, we’re poised to expand into exciting new areas — including new platforms, live events, and talent acquisition — cementing First We Feast as the ultimate destination for pop-culture-obsessed audiences.”

BuzzFeed’s Concerning Financials

BuzzFeed is reportedly under a huge debt, somewhere around the tune of $120 million, and this deal promises to shave away a big chunk of it. BuzzFeed’s market value has plummeted to $163 million, down from a peak of over $1 billion, following years of financial losses. 

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Earlier this year, former presidential candidate Vivek Ramaswamy acquired an 8.9% stake in the company and has since urged it to bring on new board members and recruit high-profile media figures, such as Tucker Carlson and Charles Barkley.

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Amazon Founder Jeff Bezos Enjoys Culinary Experience at Vikas Khanna’s New York Restaurant

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Amazon Founder Jeff Bezos Enjoys Culinary Experience at Vikas Khanna’s New York Restaurant

Amazon founder Jeff Bezos & his partner Lauren Sanchez recently visited celebrated chef Vikas Khanna’s popular New York restaurant ‘Bungalow’. 

Khanna took to X to post their picture and wrote a heartfelt note on their visit. 

Amazon’s Jeff Bezos Visits Chef Vikas Khanna’s Restaurant 

Chef Vikas Khanna wrote: “When @JeffBezos said the visit to Bungalow was like a pilgrimage, it filled my heart with pure joy & pride.” He further highlighted the cultural gravitas of the moment by adding hashtags like #PowerOfAuthenticity and #SoftPowerOfIndia”

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Khanna had prepared a stellar assortment of celebrated Indian dishes including Bengali Kasundi Tandoori Avocado, Bihari Sattu Roti, and Udipi’s Annanas Menaskai, along with Gujarati Tindora Pickle and Nagaland’s Black Rice Pudding. Also included were Indore-inspired Dahi Kebab, Jewish-Indian Chicken Chitranee, and a dessert finale of Gulab Jamun Ice Cream with Millet-Chocolate Cake.

Chef Vikas Khanna’s Popular New York Restaurant Bungalow 

Bungalow, which launched in March 2024, has quickly established itself as a sought-after spot for Indian cuisine lovers in New York. Recently, the restaurant earned the prestigious Michelin 2024 Bib Gourmand Award. 

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Celebrating the achievement on Instagram, Khanna shared, “260 days of Bungalow, and today we received the Michelin 2024 Bib Gourmand Award.”

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Thrive Consumer App Shuts Down: Cofounder Dhruv Dewan Reflects on the Journey

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Thrive Consumer App Shuts Down: Cofounder Dhruv Dewan Reflects on the Journey

The popular Thrive consumer application is shutting down operations. Cofounder Dhruv Devan made the announcement on LinkedIn on Friday, 13th December. 

The service which was live in Mumbai, created a lot of buzz in a short time. 

Cofounder Dhruv Devan Announces the Decision to Shut Down the Business 

Cofounder Dhruv Dewan announced that they are now in the process of transitioning Thrive ONDC, Thrive Direct, and the Thrive Marketing Suite to a suitable industry partner. Taking to LinkedIn he said: “Our immediate priority is to help our talented team find new opportunities. They’ve been the heart and soul of Thrive, building a product that launched industry-first innovations in delivery and social-led restaurant & food discovery.”

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Highlighting the stellar achievements of their initiative the top executive wrote: “In a short time, they built a brand and business that competed with industry benchmarks, all at a fraction of the cost compared to the incumbents.”

The Reasons Behind This Abrupt End

Explaining the difficult decision to end operations, the cofounder’s statement read: “A bit more context for our decision: Over the years, we’ve fought hard to create a more equitable approach to food delivery and discovery—lower commissions, fairer pricing, social-led discovery, and a human-centered connection between restaurants and their customers.”

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Nevertheless, they had to shut down the business, and the rationale behind the same was: “However, scaling that vision required resources we couldn’t secure. While we saw glimpses of promise, it never quite came together as we imagined. The reality is that the current marketplace remains dominated by a few well-funded giants, making it extraordinarily challenging for smaller, mission-driven platforms like ours to flourish at the scale restaurants deserve”. 

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Zepto CEO Aadit Palicha Celebrates Key Milestone with Public Release of FY24 Financial Statement

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Zepto CEO Aadit Palicha Celebrates Key Milestone with Public Release of FY24 Financial Statement

Cofounder & CEO of Zepto Aadit Palicha recently took to LinkedIn to share an important milestone in the journey of his young startup. 

The FY24 audited financial statement of Zepto is now available publicly and it has several interesting developments. 

Zepto CEO Proudly Presents the latest Audited Financial Statement of the Startup 

Palicha pointed out the key takeaways from the statement which paint an impressive picture of the company’s financials. He said: “Despite being only 3 years old, we were able to successfully close a full statutory audit by a Big 4 firm with no financial qualifications and a clean CARO. This rare achievement for a young startup is the outcome of a governance-focused culture at Zepto and early decision-making that prioritized controllership excellence (like SAP FICO integration, automated revenue-to-cash reconciliation, set up of an H2H payment system etc).” 

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Further, he also took the opportunity to praise and acknowledge key executives of the firm that he believes were absolutely essential for the company’s success, “More importantly, this was only possible because of our excellent finance team led by our CFO Ramesh Bafna and our Chief Controller Sandip Khetawat, both of whom I have been privileged to learn from :)”

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Zepto Boasts Impressive Financials

The celebrated CEO also presented key highlights about the young company’s financials. He wrote:” Our accounting revenue has grown 120% year-on-year from INR 2,025 Crores in FY23 to INR 4,454 Crores in FY24. Even with 120% growth, our absolute losses came down year-on-year with PAT as a % of revenue improving from -63% in FY23 to -28% in FY24. We expect to continue this growth momentum with a clear path to PAT profitability in the near term.” 

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Joyology: Global SS Beauty Brands’ Bold Foray into the Private Label Cosmetics Market

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Global SS Beauty Brands, a fully owned subsidiary of Shoppers Stop, has entered the private label market with the launch of Joyology, a new-age colour cosmetics brand aimed at the “masstige” segment.

An Innovative Brand With a Specific Focus

Focused on appealing to Zillennials, the brand was introduced by Biju Kassim, CEO of Global SS Beauty Brands, in an interview with ETRetail.

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With its cutting-edge concept and innovative packaging, the brand collaborated closely with Intercos for the development of both the product and packaging. In addition to being available at Shoppers Stop and SS Beauty stores, as well as on the company’s e-commerce platforms, Joyology will also be sold through major online retailers such as Nykaa, Myntra, Amazon, and Tata Cliq.

Key Executive Explains Brand Focus 

The CEO said: “The products of Joyology are affordable and manufactured in India but with the highest quality and the greatest ingredients. With the launch of this new private label brand, we want to play in various verticals that beauty as an opportunity offers in this country,” 

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When asked about the ROI, he explained: We would be at a comfortable stage in 3rd year of operation and want to scale it up further and to make sure that ROI starts flowing from 4th year onwards.”

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Meesho’s Surge: 35% Growth in Orders, Driven by Tier 2 and Gen Z Shoppers

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Meesho’s Surge: 35% Growth in Orders, Driven by Tier 2 and Gen Z Shoppers

Meesho, the e-commerce platform backed by SoftBank, announced on Friday that it has seen a 35% year-over-year increase in orders. Additionally, its user base grew by 25%, reaching 175 million in 2024. 

Company Discusses Reasons Behind this Growth 

The company attributed this growth to a rise in consumer spending and the expanding use of e-commerce in Tier 2 and smaller towns. This surge contributed to an overall 70% annual growth in orders across categories such as Beauty and Personal Care (BPC) and Home and Kitchen.

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In a statement released by the company, it was said: “With about 35 per cent year-on-year increase in orders, the platform is a clear reflection of strong consumer sentiment and the rapidly expanding adoption of e-commerce across the country. This growth is driven by India’s value-seeking shoppers, who are prioritising affordability in discretionary categories such as fashion, beauty, personal care, and home essentials,” Meesho said in a statement.

Meesho Continues to Surge to New Heights

The statement continued: “Notably, around half of this user base comes from tier 4 and smaller towns like Naidupeta (Andhra Pradesh), Sherghati (Bihar), and Harapanahalli (Karnataka). The platform also retained its position as the most downloaded shopping application for the fourth consecutive year, surpassing around 210 million downloads.”

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Meesho reported that Gen Z now makes up one-third of its total user base, becoming the fastest-growing demographic in India’s e-commerce sector.

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WayCool’s Cofounder Sanjay Dasari Steps Down After 9.5 Years, Moves to Advisory Role

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WayCool’s Cofounder Sanjay Dasari Steps Down After 9.5 Years, Moves to Advisory Role

Cofounder of agritech startup WayCool Sanjay Dasari has resigned after almost a decade with the company. 

WayCool specialises in Agricultural supply chains and branded farm and food products. 

In a statement posted on LinkedIn, the entrepreneur said: “After 9.5 incredible years building WayCool, it’s time for me to take the final step in the founder’s journey—an exit.”

WayCool Cofounder Parts Ways With Company 

Explaining the new nature of his association with the company, he said: “I’ll still be involved with WayCool in an advisory role, supporting strategic projects and fundraising efforts, but I’m stepping back from the day-to-day (sic) of the company I founded and the only job I’ve ever known.” 

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About his plans for the future, the co founder wrote: “I’m open to options and going where my curiosity takes me, weighing opportunities between operating and investing while doubling down on angel bets, mentorship and speaking.”

WayCool’s Fascinating Journey 

The company originally started as a supply chain business for agricultural products before expanding into the packaged consumer goods sector.

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On July 26, ET reported that the Chennai-based firm had laid off over 200 employees in its third round of job cuts within the year, as part of its strategy to reach profitability. Additionally, the company confirmed the exit of B.P. Ravindran, who had been leading its FMCG subsidiary, BrandsNext, which includes brands like Madhuram, Kitchenji, and Freshey’s.

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IHG Hotels & Resorts Expands Portfolio with New Holiday Inn Express in Greater Noida

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IHG Hotels & Resorts Expands Portfolio with New Holiday Inn Express in Greater Noida

A new Holiday Inn Express property is coming up in Greater Noida knowledge park. IHG Hotels & Resorts made the announcement, which adds to the growing portfolio of the brand in India. 

The newly opened Holiday Inn Express in Greater Noida, located in the rapidly growing industrial hub just outside Delhi, is designed to serve both business and leisure travellers with convenient access to key local attractions.

The Upcoming Hotel Boasts Top Notch Attractions 

This hotel features 133 contemporary rooms tailored to the needs of modern travellers. Each room is equipped with blackout curtains, premium bedding, power showers, and complimentary high-speed Wi-Fi. 

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Additionally, guests can enjoy flexible workspaces, flat-screen TVs with content mirroring capabilities, ergonomic chairs, and an abundance of USB ports and plug sockets.

Top Executives Opine on the New Project

The MD of IHG Hotels & resorts Sudeep Jain commented: “We are pleased to open a new Holiday Inn Express property located in Greater Noida, aligning with IHG’s regional goals to expand our footprint. This addition will enhance our presence in key markets and enable us to deliver innovative hospitality solutions to meet the needs of both business and leisure travellers.”

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While Ashish Jakhanwala, who is the chairman of SAMHI hotels said: “We are proud to introduce a new Holiday Inn Express hotel in Greater Noida, reinforcing our dedication to expanding our portfolio in strategic locations. This initiative allows us to cater to the increasing need for quality lodging and contributes positively to the local economy. We’re eager to offer our guests an outstanding experience that exceeds their expectations.”

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Worthy Cart Launches with Big Ambitions: Aiming for INR 20 Crore Revenue by 2025

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Worthy Cart Launches with Big Ambitions: Aiming for INR 20 Crore Revenue by 2025

Powered by AI, a new E Commerce platform Worthy Cart commenced operations on Wednesday. It has 200 onboarded brands and a projected revenue target of INR 20 crore in CY2025. 

Worthy Cart is targeting a pre-series A round of $10 million in the coming months. 

Worthy Cart Starts Its Journey with Big Ambitions 

In a statement issued by the company, its position was explained as follows: “Leveraging the rapid growth of the beauty and wellness sectors, it aims to scale its business through B2B and B2C channels as well with the first year revenue target of Rs 20 crore”

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The Gurugram based firm also eyes the physical retail market by the end of next year. These stores would serve as customer experience centres. The company statement said: “The company aims to establish 100 such stores over the next three years, with a particular focus on tier 2 cities”.

Worthy Cart Boasts Sophisticated Operational Standards

Worthy Cart features over 214 brands and more than 800 products. To ensure shoppers receive the best and safest beauty and wellness products, Worthy Cart employs a four-step product validation process. 

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This includes analyzing ingredients, conducting physical inspections, verifying legal compliance, and performing quality checks, according to company co-founder Sonya Sahni.

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VIP Clothing’s Quick Commerce Move: Fast Delivery via Swiggy Instamart

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VIP Clothing’s Quick Commerce Move: Fast Delivery via Swiggy Instamart

VIP clothing Ltd. an inner wear titan debuts in the rapid commerce market by partnering with Swiggy Instamart. 

This agreement allows the company to make quick 10-minute delivery of its men’s innerwear brand, Frenchie. 

VIP Clothing Debuts in the Rapid Commerce Market 

Through this venture the company is targeting modern consumers, who value time and convenience. VIP clothing has been an industry leader in its domain and its entry into the quick commerce market promises to further solidify its business. 

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VIP Clothing: An Industry Leader in Intimate Apparel

Driven by the expanding middle class, urbanization, and the growth of e-commerce, the company’s revenue rose by 13% to USD 7.2 million in Q2 FY25, up from USD 6.2 million in Q2 FY24.

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VIP, one of India’s leading manufacturers of intimate apparel, offers a wide range of products across various market segments under multiple brands, including Feelings, Leader, Frenchie, and VIP.

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