Investor from the US Janus Henderson cuts PharmEasy’s valuation in half, to $2.8 billion
The parent firm of online pharmacy unicorn PharmEasy, API Holdings, has had its valuation cut in half to about $2.8 billion by US investor Janus Henderson.
The adjustment was made after Neuberger Berman, a New York-based investment management firm, decreased PharmEasy’s valuation by 21% to $4.4 billion as of February 28.
PharmEasy has joined online businesses such as BYJU, a company that provides edtech services, Pine Labs, a fintech company, Ola cab service, a company that delivers food and other goods, Swiggy, and others.
In the meantime, the business reported its first EBITDA profit since its founding in April of this year, amounting to about Rs 14 crore, along with net sales of Rs 600 crore.