The startup’s angel investors, employees and some other investors are offloading shares in what could be one of the company's largest secondary sale deals since it was founded. In a secondary share sale, new investors buy shares from existing investors but the money doesn’t go to the company.
Amazon has acquired the startup in an all-cash deal, a person aware of the matter said. This is the first inorganic bet that Amazon is taking on the so-called social commerce space where sellers use platforms like Whatsapp and Facebook to sell their wares.
Warner Bros Discovery, whose shares fell 5.6% on the news, did not immediately respond to a Reuters request for comment.
Singapore-based Rario was founded in 2021 by Sunny Bhanot and Ankit Wadhwa amid a global boom in NFTs and cryptocurrency.
Financial irregularities are easy to uncover if diligent auditors are put on the job and held accountable, and if the directors on the board ask the right questions. Historically, most malpractices fester because someone with a radar to spot aberrations looks the other way.
The Bengaluru-headquartered company, which was impacted by a client-specific issue, higher subcontracting costs and talent-related issues during the last quarter of fiscal 2022, is clear that it’s guidance for this financial year comes from three fundamental factors, according to Parekh.
The Bengaluru-headquartered company, which was impacted by a client-specific issue, higher subcontracting costs and talent-related issues during the last quarter of fiscal 2022, is clear that it’s guidance for this financial year comes from three fundamental factors, according to Parekh.