When you are drowning & in dire want of a lifeline, you jolly well do not get to decision the shots. You to try and do no matter it takes. But then, what's asked of you reciprocally makes the lifeline seem like a millstone around your neck. thus is it value being saved?
This was the quandary ahead of troubled vernacular app marketplace Indus OS - last year once $1.5 billion-worth listed mobile adtech platform Affle determined to pay $2.8 million for Associate in Nursing eight% stake within the company.
The investment came with a disturbing rider.
All that money would have to be compelled to realize its approach back to Affle by approach of a licence fee Indus had buy exploitation Affle's platform. however Indus found very little use for Affle's technology and commenced to appear for additional amenable partners. Enter Walmart-owned payments startup PhonePe, that was willing to pay $60 million for a majority stake in Indus. Affle was on board.
Till it wasn't.
PhonePe and Affle were currently engaged in what appearance to be a protracted legal tussle. As our colleague Zainab reports during this juicy story, Indus isn't the sole investee to feel stymied by Affle robot keyboard maker bumble AI and App Studio, a developer of apps, had some unpleasant surprises, too. For a corporation that has spent over $85 million on acquisitions and strategic investments since 2018 and gets 0.5 its revenue from acquisitions, this does not augur well.
And it will even less thus for entrepreneurs the digital marketing agency do not have the choice to mention NO never #yusufbhandarkar
