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Snapchat Founding Story

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What started off as a means to send girls and guys nude images, is one of the most used applications around the world today. A simple idea of being able to send disappearing pictures became a force in technology, advertising and entertainment. This is the founding story of Snapchat, the multimedia messaging app created by Evan Spiegel, Bobby Murphy and Reggie Brown.

Launched in the year 2011, the idea came to the founders when they were studying at Stanford University where Spiegel presented its first incarnation as part of a project for his product design class. Initially called Picaboo, the photo sharing service was first launched on the Apple App Store. But, soon after launching the app, Spiegel and Murphy decided to remove Brown from the company which led to a lawsuit and a subsequent $ 158 million settlement.

Spiegel and Murphy relaunched the app, post the lawsuit, with a new name, Snapchat. Snapchat became incredibly popular with kids and gained 100,000 users by April 2012 majorly through word of mouth. While Evan’s, Bobby’s and Spiegel’s first crack at an idea like Snapchat was a disaster, the present iteration is the beta version is an unparalleled success. Snapchat, as we know it, came to be after 6 weeks of intense work and a presentation in front of 30 students and 2 professors. The idea of pictures not lasting forever was a concept people were really not familiar with and once everyone understood the concept, it became an instant success!

Even after going through rounds of failures and mishaps, Snapchat came to become one of the most successful businesses in the world of startups. One of the most unique photo sharing apps, Snapchat is now valued at a staggering $ 24 billion. In May 2015 alone, Snapchat raised $ 538 million in new funding rounds and it is believed to have shared more than 15 billion images during the last 3 years. With such quick growth and progress, Snapchat stands at being the third most valued startup in the world!

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Tesla Secures Mumbai Facility as Key Step in India Market Entry

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Tesla has ramped up its India expansion by leasing a 24,565 sq ft warehouse at Lodha Logistics Park in Mumbai’s Kurla West. The five-year lease, registered on May 16, 2025, involves a total rent of over ₹24 crore, starting at ₹37.53 lakh per month with a 5% annual escalation. The facility includes two ground-floor units and 20 parking spots, with rent payments commencing June 1, 2025.

This warehouse will function as a key service center and garage for Tesla’s India operations, excluding bodywork and spray painting. The move supports Tesla’s preparations for its official market debut, expected in late 2025 or early 2026.

Tesla’s India rollout includes offices in Pune, flagship showrooms in Mumbai’s Bandra Kurla Complex (BKC) and Delhi-NCR, and co-working spaces in Mumbai. The new warehouse lease highlights Tesla’s commitment to building a robust infrastructure for sales, service, and delivery of electric vehicles and energy products across India.

While manufacturing plans are not yet confirmed, Tesla is reportedly exploring sites in Maharashtra for a potential assembly unit. The Mumbai warehouse lease marks a significant step in Tesla’s strategy to establish a strong presence in one of the world’s fastest-growing EV markets.

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Razorpay Partners with MeitY Startup Hub to Accelerate Deeptech Innovation in Tier II and III Cities

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MeitY Startup Hub (MSH), under the Ministry of Electronics and Information Technology, has partnered with fintech leader Razorpay to support the growth of deeptech and emerging tech startups across India, with a special focus on those in Tier II and III cities. Through this collaboration, early-stage startups will gain access to Razorpay’s fintech infrastructure, mentorship, and resources via the Razorpay Rize program.

Startups in areas like AI, blockchain, robotics, and IoT will benefit from streamlined company incorporation support, expert mentorship, product credits, and guidance for applying to global accelerators such as Y Combinator. Selected founders will also join the exclusive Rize Community, connecting with peer networks and attending masterclasses.

MSH CEO Panneerselvam Madanagopal emphasized that this partnership will help founders scale faster by providing vital support in mentorship, capital access, and digital infrastructure. As India’s startup ecosystem surpasses 159,000 DPIIT-recognised startups, this initiative aims to give deeptech entrepreneurs the tools and networks needed to innovate for India and expand globally.

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PixelSky Capital Unveils INR 400 Crore Secondaries Fund

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Bengaluru-based investment bank IndigoEdge, in partnership with entrepreneur Hitesh Ahuja, has launched PixelSky Capital, a secondaries fund targeting INR 400 crore. The fund will invest in eight late-stage tech and consumer companies expected to go public within three to four years, with cheque sizes of INR 40–50 crore each. PixelSky has already invested in beauty retailer Purplle and aims to close a second deal by June 2025.

 

The fund focuses on secondary transactions, allowing existing shareholders to sell stakes to new investors, providing liquidity ahead of IPOs. Founders have committed INR 10–15 crore, with additional capital coming from domestic family offices and startup founders. Final close is expected by March 2026.

 

Led by Hitesh Ahuja, who sold his foodtech startup Yumlane in 2023, and IndigoEdge cofounder Zerin Rahiman, PixelSky marks IndigoEdge’s expansion from advisory and proprietary investments into fund management. The firm has facilitated over 150 transactions worth around $3 billion and invested INR 25–30 crore as a limited partner in multiple VC funds. PixelSky is currently evaluating about 20 companies before finalizing its portfolio

 

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