Big Cloud ☁️
Tiger is back, Oil shortage, and Mega deals.
🗓 Morning, folks 👋
📈 Markets stayed in the green yesterday, with the Sensex adding 0.15% and the Nifty rising 0.26%.
The S&P clinched another high yesterday as Trump’s return energized US stock markets. Energy stocks are particularly under focus, as AI power needs start to add up.
Let’s hit it!
1 Big Thing: India’s oil strategy resets🛢️
After riding the wave of discounted Russian oil, India’s energy game is shifting gears as fresh U.S. sanctions tighten the noose around Moscow’s oil trade.
On January 10, the U.S. imposed fresh sanctions targeting shadow tankers that transport Russian crude, along with maritime insurance providers.
Russia supplies nearly 40% of India’s oil. These sanctions now threaten to disrupt a supply chain that has helped Russia become India’s largest oil supplier.
In the numbers — Russia’s oil has gone from 10% to 40% of India’s import mix in just three years, worth nearly $3 billion per month. GOI has largely pocketed the difference, boosting its revenues.
Indian policymakers are negotiating with Middle Eastern suppliers like Saudi Arabia and the UAE to diversify, hoping for a Hail Mary.
Brazil, and even Guyana are already on its radar.
Why it matters: India imported over 5 million barrels a day in 2024, relying on global oil flows for 90% of its consumption.
Welcome to another reset to global functioning, enforced by Trump 2.0.
2. Make it rain ☁️
AWS will invest nearly $8 billion to build large scale data centers in Maharashtra, as India’s internet usage and data generation continue to scale.
The investment comes from an original plan to invest upto $15 billion in India by 2030. Amazon says this project will create over 80,000 local jobs.
AWS has already invested $3.7 billion in Maharashtra since 2016 to power companies like HDFC Bank, ICICI Lombard, and startups like PhysicsWallah to scale faster.
Zoom out: the cloud market in India is projected to grow at a CAGR of 23.1%, crossing $20 billion by 2027.
3. Big bootstrap win🚦
Everstone acquired a majority stake in Wingify for $200 million, marking a significant milestone for one of India’s earliest bootstrapped SaaS success stories.
The deets: Wingify’s primary product is an A/B testing tool, targeted at small businesses looking to improve their digital experiences.
Wingify offered its product at a friendly price point, managed to create a sticky offering, and grew without raising much outside capital. Currently, they have nearly 6,000 customers, with nearly $50 million in revenue.
Big trend: acquisitions of this scale for bootstrapped SaaS in India are rare. The price tag, as well as the outcome it created for founders, sets a benchmark for what’s possible.
While we are on raises,
Infra.Market raised $125 million ahead of its IPO. The round saw participation from Tiger Global and other big name players.
Infra.Market started as a construction marketplace, but has since moved to provide its own materials and equipment through a tight retail network nationwide.
4. MakeMyTrip flies high ✈️
MakeMyTrip reported a strong Q3, with profits rising to $27 million, up from $24 million last year.
Revenue climbed 26.2% YoY to $267.4 million, driven by robust demand across international and domestic travel.
What fueled the growth: the festive season and pent-up travel demand powered a 32% rise in international air revenue and a 63% jump in hotel bookings abroad.
Domestically, the company maintained a 30%+ market share in flight ticketing as departures picked up in a seasonally strong quarter.
Zoom out: the stock, which is listed on the Nasdaq stock exchange, has doubled in the last year. It has been a favourite pick for US investors to play the India consumer and travel boom.
What else are we snackin’ 🍿
📸 Creator push: Meta is offering $5,000 bonuses to woo creators from TikTok to its platforms.
🔍 Price probe: the Centre has flagged Ola and Uber for allegedly charging different fares on iPhones vs. Androids, sparking a consumer watchdog inquiry.
🤖 Data Giant: Reliance is building a 3GW data center in Jamnagar with a $20–30B investment amid soaring AI demand.
And that’s a wrap. Pour yourself an extra one this weekend.
We’ll be back like clockwork on Monday!
Hit that 💚 if you liked this issue.