By CNBCTV18.com Dec 1, 2021 8:16:29 PM IST (Published)
Nykaa gears up for a multifold expansion of its offline presence, while CRED acquires a professional expense management platform. Meanwhile, Freshworks urges RBI to prepare a list of 'good companies'. Here's a recap of all the day's action from the startup space.
Here are the top headlines from the startup space:
CRED to acquire Happay, valuing the platform up to $180M
Kunal Shah's CRED will acquire Happay in a cash-and-stock deal, valuing the corporate expense management platform up to $180 million.
After the acquisition, Happay will operate as a separate entity. CRED’s leadership team will work closely with Happay to leverage CRED’s ecosystem, expand product offerings and scale up operations, the company said. CRED also said all of Happay’s 230 employees will be eligible for benefits extended to CRED’s employees, including its ESOP (employee stock ownership plan) programme.