The company has renewed talks with entertainment companies about participating in the platform, which it is referring to internally as a "channel store", the report said, citing people close to the recent discussions.
Sanjeev Bikhchandani's comments come at a time when Zomato is facing significant selloff pressure as a result of market volatility, concerns around corporate governance and lack of disclosure, especially around its acquisition of Blinkit
Startup valuations before raising new capital from investors have fallen from the previous three months, and there is a rising trend of companies taking a down round, valuing them lower than in previous ones.
The RBI's digital lending guidelines have increased the pressure on new-age lending businesses, forcing them to focus on their non-banking financial company (NBFC) units and book building, as the regulator gives importance to regulated entities.
Civil rights and online misinformation experts have accused social media and tech platforms of not doing enough to prevent the spread of misinformation, including the idea that President Joe Biden did not win the 2020 election.
The new rules – which clearly favour entities under the RBI’s control – could force fintech firms to focus on their non-banking financial company (NBFC) units, making a shift for India’s digital lending industry.
This is a shift for the digital lending industry, which has largely focused on growing the lending-distribution platform to show scale and rely on loss guarantee cover practices such as First Loss Default Guarantee (FLDG) to participate in lending activity through risk-taking with banks and financial institutions.