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Gupshup Faces IPO Hurdles Amid Redomiciling Dilemma

  • Gupshup's board is undecided on moving its US-registered holding entity to India for an IPO due to tax implications.
  • CEO Beerud Sheth highlights the challenges, noting that investing in taxes isn't a good return.
  • Fidelity Investments' markdowns in 2024 slashed Gupshup's valuation to $486M from $1.4B in 2021.
  • The company has raised $440M in equity funding over four years, including significant rounds led by Tiger Global Management.
  • Gupshup, with 1,300 employees and $350M in annual recurring revenues, aims to lead in conversational AI and CPaaS markets.

Source: The Arc

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5mo ago
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