Maybe Pharmeasy’s founders weren’t crazy enough

<p>Pharmeasy, once the highest-valued Indian healthcare startup, is planning to raise money in a new round of funding at a 90% markdown from its previous valuation.</p><p><br /></p><p>From $5.6 billion to $500 million. </p><p><br />All because Pharmeasy had to take another debt to pay off its previous debt. The second time though, interest rates were not zero. </p><p>What's going on?</p><p>Tune in.</p><p><em>Recommendation</em></p><p><a href="https://the-ken.com/the-nutgraf/byjus-is-looking-like-a-hedge-fund/"><em>Byju’s is looking like a hedge fund<br /></em></a><em><br /></em><a href="https://the-ken.com/story/the-tail-of-acquisitions-wagging-indias-funding-dog/"><em>The tail of acquisitions wagging India’s funding dog</em></a><em></em></p><p>Daybreak is produced from the newsroom of <a href="https://the-ken.com/"><strong><em>The Ken</em></strong></a><em>, India’s first subscriber-only business news platform. </em><a href="https://the-ken.com/pricing/"><strong><em>Subscribe</em></strong><em> </em></a><em>for more exclusive, deeply-reported, and analytical business stories.</em></p><p><br /></p>