VerSe Innovation Plans IPO by March 2027, Raises Over $2 Billion from Global Investors

VerSe Innovation, backed by Google and Microsoft, plans to launch an IPO before March 2027. The Bengaluru-based firm operates Dailyhunt, Magzter, and Josh. It has raised over $2 billion from investors such as Carlyle Group, Baillie Gifford, and Qatar Investment Authority. However, Deloitte had raised concerns about revenue recognition and internal controls in FY23, and the firm adjusted its total income accordingly. Despite this, VerSe is expected to break even in H2 2025.

Title: VerSe Innovation Eyes IPO Before March 2027

VerSe Innovation, a Bengaluru-based firm backed by Google and Microsoft, is preparing for an initial public offering (IPO) before March 2027. The company, which operates vernacular news and content platforms Dailyhunt, Magzter, and short-video app Josh, has raised over $2 billion from investors such as Carlyle Group, Baillie Gifford, and Qatar Investment Authority [2].

VerSe's IPO plans come after significant funding rounds, including a $805 million investment in 2022 at a $5 billion valuation [2]. The firm's diverse backers also include technology giants, private equity firms, and global pension funds [2]. In its largest funding round, VerSe raised $805 million from CPP, Ontario Teachers’ Pension, Luxor Capital, and Sumeru Ventures [2].

Despite financial concerns raised by Deloitte in FY23 regarding revenue recognition and internal controls, VerSe adjusted its total income accordingly and assured commitment to financial discipline and operational efficiency [2]. The firm expects to break even in the second half of 2025 [2].

VerSe is planning to list its shares on a major stock exchange, with Avendus Capital likely advising the public offering [2]. The firm's strong backer profile and strategic focus on video content position it for growth, particularly among regional Indian users [2].

References
[1] https://api.news.bitcoin.com/wp-json/bcn/v1/post?slug=gemini-exchange-files-s-1-for-proposed-nasdaq-ipo-under-ticker-gemi
[2] https://www.financialexpress.com/market/ipo-news-verse-eyes-ipo-before-march-2027-3950417/