Online marketplace ShopClues has raised Rs50 crore in venture debt from InnoVen Capital, in a rare instance of a home-grown unicorn opting for venture debt. The fresh capital infusion comes over 15 months after...
Ecommerce
BlackRock said poised to fund Mobikwik valuing it at $1 billion
One Mobikwik Systems Pvt. Ltd, an Indian digital payments service provider, is set to raise funds from investors including BlackRock Inc. valuing the company at about $1 billion, a person with direct knowledge of the...
SoftBank may finalize Snapdeal sale to Flipkart next week, in realignment of India strategy
After ploughing about $2 billion into minority stakes in Indian e-commerce businesses over the past few years, Japan’s SoftBank Group Corp. is upping the stakes, looking to play consolidator and take a more active role...
MobiKwik-Freecharge deal to herald new era for wallets
If last year was marked by shutdowns, losses, and layoffs in the e-commerce sector, this could well be the year when others too were caught in the slowdown. After online marketplaces, it now seems to be the turn of...
BPL scraps partnership with Flipkart, moves to Amazon
Consumer electronics brand BPL, which was the TV brand of choice for millions of urban Indian households in the 1990s, has scrapped its three-year partnership with online marketplace Flipkart and has instead inked a...
Snapdeal board to meet today to discuss likely sale to Flipkart
The board of online marketplace Snapdeal is expected to meet on Tuesday to discuss a potential sale to larger rival Flipkart and will attempt to get investor Nexus Venture Partners on board for the deal. The approval of...
Myntra acquires Bengaluru-based logistic solutions platform ‘InLogg’
Flipkart-owned online fashion retailer Myntra on Wednesday announced that it has acquired InLogg, a city-based technology platform that provides end-to-end logistic solutions to the e-commerce sector, with an aim to...
SoftBank may just invest $1 billion in Paytm for Snapdeal merger
Masayoshi Son-led SoftBank, the largest investor in Snapdeal, is keeping its options open. While the Japanese major has been spearheading the talks for a possible merger of Snapdeal with Bengaluru-based Flipkart...
Wal-Mart seeks online fashion presence through acquisitions
Wal-Mart Stores Inc’s bid for clothing retailer Bonobos, which surfaced last week, is the latest step in the company’s attempt to recover lost ground against Amazon.com Inc and others in the rapidly growing...
Snapdeal acquisition to benefit Tiger Global more than Flipkart
A $1 billion buyout of struggling online marketplace Snapdeal by Flipkart may yield more immediate benefits to Tiger Global Management, Flipkart’s largest investor, than to the buyer or to Indian consumers. The buyout...
Flipkart raises $1.4 billion from eBay, Microsoft, Tencent, acquires eBay India
India’s largest online retailer Flipkart has closed a mammoth funding round of $1.4 billion from Tencent Holdings Ltd, eBay Inc. and Microsoft Corp., in the biggest-ever start-up funding round that both boosts Flipkart...
Why Flipkart’s valuation wasn’t hurt by multiple markdowns
Since the start of 2016, Flipkart’s value has been marked down by five of its own investors, mostly mutual funds based in the US. These funds include those run by Morgan Stanley, Fidelity, and Valic and have valued the...
