YABAJI
Trucking aggregator Blackbuck founders sell 36 lakh shares worth Rs 243 crore in block deal
This is almost 2% of the company’s total number of shares. The block deal to Citigroup, Goldman Sachs, Motilal Oswal, Morgan Stanley, and others was done at Rs 676.40 apiece.
Swiggy to move its headquarters in Bengaluru from Bellandur to Whitefield
Food and grocery delivery platform Swiggy is relocating its Bengaluru headquarters from Bellandur to Whitefield in the coming months. This move is driven by the need for larger office space and employee preference, as well as growing concerns over traffic congestion and infrastructure issues along the Outer Ring Road.
Blackbuck CEO Rajesh Yabaji denies relocation rumours; confirms Bengaluru expansion
This follows reports that the trucking aggregator has decided to move its operations out of Bangalore, as the deteriorating infrastructure has made it difficult for its employees working on the Bellandur location to continue functioning.
ECI 'failed' to cooperate with CID probe into large scale vote deletion: DK Shivakumar
Deputy Chief Minister D K Shivakumar supports Rahul Gandhi's claims of voter deletion. He alleges the Election Commission is not helping the investigation. Shivakumar says the Karnataka government assigned the Criminal Investigation Department to probe the matter. The government is committed to fixing Bengaluru's poor roads. A committee has been formed to address potholes and road infrastructure.
Industries losing faith in Karnataka, migrating to other states, says Union Minister Kumaraswamy
Union Minister HD Kumaraswamy urged companies to remain in Bengaluru despite infrastructure challenges, criticizing the Karnataka government's negligence. This follows logistics startup BlackBuck's decision to leave the Outer Ring Road (ORR) due to severe congestion and poor road conditions. Andhra Pradesh IT Minister Nara Lokesh has invited BlackBuck to relocate to Visakhapatnam.
AP IT minister invites B’luru startup frustrated over bad roads, Sidda blames the rains
Andhra Pradesh’s IT minister Nara Lokesh invited logistics startup BlackBuck to move to Vizag after its CEO complained about poor roads and traffic in Bengaluru’s Outer Ring Road (ORR) area. The issue sparked criticism of the government, with industry leaders urging urgent action to fix Bengaluru’s infrastructure problems.
BlackBuck's pothole problem: CEO Rajesh Yabaji exits Bellandur, ex-Infosys CFO Mohandas Pai slams govt neglect
BlackBuck, a Bengaluru-based digital trucking platform, is relocating its office from Bellandur due to the severe pothole situation on Outer Ring Road. CEO Rajesh Kumar Yabaji expressed frustration over the deteriorating road conditions and lack of improvement, impacting employee commutes. The move highlights the broader infrastructure challenges plaguing Bengaluru's IT corridor, prompting concerns from industry leaders and residents.
Blackbuck to move out of Bengaluru's Bellandur due to poor road infra
Bellandur is also infamous for monsoon flooding and accidents. ET wrote in July that Bengaluru’s average one-way commute time has jumped 16% in just one year. From 54 minutes in 2024, today it takes 63 minutes to travel an average distance of 19 km, according to a report by MoveinSync, an employee commute platform.
Zinka Logistics IPO subscribed 1.86 times on final day
The IPO of the parent of Flipkart-backed trucking aggregator BlackBuck consists of a fresh issue of shares worth Rs 550 crore and an offer-for-sale of up to Rs 565 crore. The price band of Rs 259 to Rs 273 per share values the company at Rs 4,818 crore, down 36% from its private valuation of Rs 7,500 crore in July 2021, following a funding round led by Tribe Capital.
BlackBuck sets IPO price band at Rs 259-273; valuation lowered
The IPO consists of a fresh issue worth Rs 550 crore and an offer for sale (OFS) of up to 20.6 million equity shares. Investors can place bids for a minimum of 54 equity shares, with additional bids in multiples of 54 shares.
BlackBuck drives into unicorn club with $67 million funding
BlackBuck will use the funding to invest heavily in product and data science capabilities to strive for better efficiency in freight matching for the Indian trucking ecosystem, cofounder and chief executive Rajesh Yabaji says.
Saveo Healthtech gets $4 million led by Matrix Partners, RTP Global
The company said it would utilise the capital to expand deeper into geographies where it is already present and into newer regions within the country.
Young bosses go the extra mile for employees
Startup founders are doing what it takes to create a productive work culture which helps retain talent.
Logistics tech startup Blackbuck gets $150m, nears unicorn status
The latest fund raise values the Bengaluru-based Zinka Logistics Solutions, which runs Blackbuck at around $800-850 million.
Arvind Singhal joins Blackbuck as COO
ET was the first to report that Singhal had stepped down as COO of Bluestone in March.
BlackBuck gets Rs 476 crore to navigate the road
The Indian startup story is still up and running, with investors backing ventures from trucking to education companies.
How startups like ThePorter, LetsTransport, Blackbuck are driving unorganized trucking business towards efficiency
A fleet of startups is following an Uber-like model to organize truckers, track consignments and take the unreliability out of the logistics sector.
Online freight-booking service BlackBuck raiseS Rs 155 crore
BlackBuck has raised Rs 155 crore, or $25 million, in funding led by Tiger Global Management and the partner’s fund of DST Global.
Tiger Global, Yuri Milner invest $25 million in Flipkart-backed online freight booking startup
The round also saw participation from existing investors, venture capital firm Accel Partners and India's largest e-tailer Flipkart.
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