Copy
3rd January 2022
Good Morning! 

Happy New Year to all of you!!
Here is to hoping for a happy, healthy and fruitful 2022 for all of you and your loved ones.

You might have a serious case of the Monday blues today, but hey hopefully The Gyst being back helps brighten up your day!
Not many new developments so far this year (other than Covid cases increasing) but we thought we'd cover some important stories we missed during our week off.
  MARKETS
 

SENSEX

58,253.82

+ 0.80%

NIFTY

17,354.20

+ 0.87%

US$

74.34

- 0.11%

GOLD

48,083

+ 0.41%

10-YR

6.45%

- 1.5bps

OIL

5,617

- 2.06%

*As of market close

  • Markets: Stocks were up on the last trading day of 2021 with our headline indexes Sensex and Nifty50 shrugging off concerns about the Omicron variant. Overall it was a very good year for equity investors with the Nifty50 index gaining 24%. Did your portfolio do better than this?

Economy

Collecting Cash
Collect Money

Okay, so let's kick off the new year the same way we usually start each new month - with some new macro data!

What we have here is the GST collections by the government for November 2021, collected in December. And this has come in above the Rs 1 lakh crore mark for the 6th straight month.
And quite comfortable above it too - Rs 1.29 lakh crores was collected by the government for the period.

This is 13% higher than a year ago and 26% greater than revenue in pre-pandemic December 2019.

But (and there always seems to be a but) this Rs 1.29 lakh crore is a bit lower than the amounts collected for September and October, which were Rs1.30 and Rs 1.32 lakh crores respectively. These could have been higher due to increased activity before the festive period (Diwali was on 4th November)
 

Tech

Ending The Year On A High
Money gun

As of December 24th, 43 Indian startups had joined the Unicorn club in 2021!!
We frankly didn't expect any more to be minted in the last week but hey 2021 was the year of the Indian unicorn.

GlobalBees joined the club to make it 44 unicorns.

They raised about $110 million and are now valued at $1.1 billion.

One of the desi Thrasio's

GlobalBees is one of the desi versions of  Thrasio we have here.

The idea is quite clever.

They acquire small online-first brands that sell primarily through Amazon/Flipkart. These are brands that have grown to a decent level but are finding it difficult to scale further and/or the founders want an exit.

As we said GlobalBees is one of the desi Thrasios we have - and that's because we already have 10club, Mensa Brands and GOAT Brand Labs all going after the same idea.

Mensa Brands is already a unicorn and don't be surprised if the other 2 also join the club soon.

GlobalBees has been partnering with online brands across categories such as beauty, personal care, home and kitchen, food and nutrition, and sports and lifestyle.
So far they are looking at brands with a revenue rate of $1 million to $20 million.

We didn't get the exact deets about how many brands they've already acquired but it seems like they are in different stages of talks to acquire at least 30+ brands.

Anyway a great end to the year for our startups. Do you think we'll create more or less than 44 unicorns in 2022?

Tech

Jupiter To The Moon
Money gun
 

The neo-bank Jupiter just raised some funds again after their last raise in August.

This time they raised $86 million and are now valued at $711 million.

Neo-Banks have been getting pretty popular over the past 2 years or so.
A quick note before we get into the details - almost none of these neo-banks actually have a banking license, they basically partner with existing banks and provide a good UI with some additional features.

Jupiter has partnered with Federal bank to provide customers with accounts.

The fintech serial entrepreneur Jitendra Gupta (CitrusPay founder, ex-PayU MD) started Jupiter to try and bring “delight” to the banking experience.

Jupiter has apparently developed a number of products including a savings account that has features that help you manage your money like tips and guides for financial discipline. If you are thinking you really need that -- join the line.

They have quite a big waiting list and are still invite-only.
So far they are serving 500,000 users who seem to be pretty engaged.

We are really waiting for access to one of these neo-banks.
Just need to bide time with HDFC's outages till we get access to them.

On a Lighter Note

Campus Ambassador Program

If you are a college student do check out our campus ambassador program. 
For more deets check this out.

If you have more time ...

Share The Gyst

Thanks for being a subscriber. If you like what you read please let your friends know too. You can do that either through Whatsapp or Twitter. Otherwise, you can always share this link with your friends. Have a great day! 
 

You are receiving this email because you have subscribed via our website

Our mailing address is:

The Gyst
Defence Colony
New Delhi 110024
India

If you have any feedback or problems please write to us:
team@the-gyst.com

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.