Hello,
The most anticipated IPO in history will likely be soon set into motion as SpaceX is reportedly planning its investor roadshow in the week of June 8. Shares are set to trade on Nasdaq under the ticker SPCX, with pricing starting on June 11 and trading beginning June 12. Retail investors will get an unusually large allocation — by design. One to bookmark.
Meanwhile, the PSG vs Arsenal Champions League final on May 30 has a bigger business story off the pitch. For the first time since 1992, the final will not be free-to-air in the UK, available only to TNT Sports or HBO Max subscribers. The situation is apparently so bad that the UK Prime Minister has publicly urged TNT to reconsider. The sport-vs-paywall debate is far from settled.
Elsewhere, markets are watching the US Federal Reserve closely. Rates are steady at 3.5%–3.75%, with just one cut forecast for 2026 — complicated by oil price spikes from the Middle East conflict. The next FOMC meeting is June 17–18. Any signal from Powell will move global markets, including India’s.
Closer home, India's biggest-ever listing is nearly at the starting line. Reliance Jio's draft prospectus is expected to be filed with SEBI within days, with the listing likely around July 2026 — at a valuation of up to $170 billion. When the company that gave a billion people cheap internet goes public, it tends to make history.
In today’s newsletter, we will talk about
- The ‘Amazon’ of spiritual commerce
- Using AI to plan a holiday
Here’s your trivia for today: What nickname did tennis player Pete Sampras go by during his career?
ICYMI
Can Astrotalk build the Amazon of spiritual commerce?
When people think of astrology apps, most picture a narrow product: a consultation call with an astrologer, surrounded by horoscopes and kundli (birth chart) generators.
Astrotalk wants to change this perception significantly.
The Noida-based astrology company, one of India’s largest and most profitable consumer internet businesses, is building a one-stop, full-stack spiritual commerce platform spanning consultations, ecommerce, gemstones, and offline retail.
Key takeaways:
- Spirituality in India has always been a large consumer category, but it has remained fragmented, unorganised, and underserved by organised modern retail and technology platforms.
- Spiritual products generated significant search demand online, but major marketplaces never built dedicated categories around them.
- Rudraksh malas were often listed under jewellery, yantras under home décor, and gemstone purchases remained scattered across small sellers and trust-deficient websites.
Startup
Using AI to plan a holiday
Planning a holiday should feel exciting, but often feels exhausting to many travellers. Between Instagram reels, hotel reviews, flight options, blogs, and endless tabs, choosing where to go and where to stay can quickly turn into a chore.
Bengaluru-based startup Gumo is trying to change that. The company believes that modern travel has a discovery problem as much as a booking problem, and it wants to solve that with AI.
Key takeaways:
- Founded in 2023 by travel lovers Mohammad Shakir, Manish Narang, and Kapil Sharma, the startup positions itself as an online travel co-pilot built around personalisation.
- According to a report by Trip.com and Google, in markets such as India, Thailand, and Indonesia, more than 75% of people watch travel-related livestreams.
- Users can share links from Instagram, YouTube, or even an online travel agency (OTA), and Gumo’s co-pilot will convert that information into a visual travel map and bucket list.
News & updates
- US-Iran War: President Trump says a deal with Iran is nearly finalised, potentially ending the conflict and reopening the Strait of Hormuz. But Iran has confirmed its nuclear program is off the table, a sticking point already drawing sharp criticism from senior Republicans within Trump’s own party.
- Takeover: German food delivery service Delivery Hero said it had received a takeover offer from rival Uber. The deal will value the company at 33 euros ($38.29) per share, it said in a statement on Saturday.
What to watch out for
- French open: The next fortnight is going to be intense as The French Open kicked off on Sunday. With his generational rival Carlos Alcaraz out injured, 24-year-old Jannik Sinner begins as the heaviest favourite after the legendary Rafael Nadal.
- IPL final: The IPL 2026 final will be played at the Narendra Modi Stadium in Ahmedabad on May 31. The four teams to qualify for the IPL 2026 playoffs will be determined following the end of the league stage games on May 24.
What nickname did tennis player Pete Sampras go by during his career?
Answer: Pistol Pete
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