homevideos Newsstartup NewsZoomcar goes public on Nasdaq, eyes expansion in Southeast Asia, Latin America
Zoomcar goes public on Nasdaq, eyes expansion in Southeast Asia, Latin America
India's Zoomcar, a peer-to-peer car-sharing platform, has successfully gone public after completing a previously announced business combination with Innovative International Acquisition Corp, a special purpose acquisition company (SPAC) based in the Cayman Islands.
India's Zoomcar, a peer-to-peer car-sharing platform, has successfully gone public after completing a previously announced business combination with Innovative International Acquisition Corp, a special purpose acquisition company (SPAC) based in the Cayman Islands.
The resulting entity, now named Zoomcar Holdings, is actively trading on Nasdaq.
In an interview with CNBC-TV18, Greg Moran, the co-founder and CEO of Zoomcar, highlighted the company's focus on India, which still constitutes over 90% of its business. While Indonesia and Egypt are experiencing rapid growth, the company exited the Vietnamese market due to regulatory challenges.
Moran expressed excitement about potential expansion in Southeast Asia and identified Latin America as a region for future growth.
In a separate development, Healthify, an AI health and fitness app, has achieved a significant milestone by breaking its all-time sales record. On the first day of 2024 alone, the app generated $300,000 in sales, surpassing the ₹2.12 crore revenue achieved in the entire month of January 2018—a remarkable 31X growth. Notably, 66% of the day 1 sales for Healthify were attributed to renewals.
Tushar Vashisht, the co-founder and CEO of Healthify, expressed optimism about the future, stating, "In FY24, we anticipate revenues of at least ₹250 crore, and by FY25, we expect to surpass the ₹300 crore mark. Additionally, we project our India business to become profitable by FY25."
Watch the accompanying video for the entire conversation.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
In Ayodhya, voters talk of a promise fulfilled and yearning for development
May 17, 2024 2:10 PM
Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 12:25 PM
Odisha: Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 10:22 AM
Lok Sabha Election 2024: What rural Delhi wants
May 16, 2024 10:10 PM