At $6.5-billion valuation, Snapdeal, once the second biggest online marketplace in the country, was the only unicorn in India that remained unscathed in last year’s markdowns by global mutual funds. Now, the firm...
No Snapdeal sale to Flipkart for now as SoftBank fails to convince board
SoftBank, which is trying to pull off the biggest consolidation in the Indian e-commerce ecosystem, again failed to convince the board of directors of Jasper Infotech Pvt Ltd, owner of Snapdeal, to sell the online...
Snapdeal misses out on funding as SoftBank feuds with Kalaari Capital, Nexus
A rift between investors on the board of directors of online marketplace Snapdeal has led to the company missing out on at least two desperately needed funding offers over the past six months, said three people familiar...
Tiger Global sinks teeth into Flipkart, Snapdeal merger
US-based hedge fund Tiger Global is in talks with Japanese investor SoftBank to sell a part of its stake in Flipkart in exchange for a merger of struggling rival Snapdeal with India’s largest e-commerce company. Tiger...
Amazon to buy Middle Eastern online retailer Souq.com: report
Amazon.com Inc. has agreed in principle to buy Dubai-based Internet retailer Souq.com, one of the best-known names in the Middle East’s online shopping market, people familiar with the deal said on Wednesday. Souq.com...
Snapdeal in stake sale talks with rivals Flipkart, Paytm: Report
Indian online marketplace Snapdeal is in talks with domestic rivals Paytm E-Commerce Pvt Ltd and Flipkart for a potential sale, Indian daily business newspaper Mint reported on Wednesday, citing sources. However, a...
Alibaba buys out online ticketing platform Damai
China’s Alibaba Group Holding Ltd (BABA.N) has fully acquired online ticketing platform Damai.cn, the e-commerce giant said on Tuesday, marking a further push into entertainment by the firm as it expands beyond...
Flipkart said to raise $1 billion with plans for $1 billion more: report
Flipkart Online Services Pvt has completed a $1 billion fundraising and aims to raise as much as $1 billion more over the next few months, according to people familiar with the matter, giving India’s largest e-commerce...
Alibaba targets acquisition of online movie ticket sites
Jack Ma founded Alibaba is looking to acquire an online movie booking site to up its game in India’s retail entertainment business. The Chinese e-commerce major had earlier invested in digital payment app PayTm...
Flipkart in talks with Microsoft, others for up to $1.5 billion fundraising
India’s largest online retailer Flipkart is in talks to raise a mammoth funding round of up to $1.5 billion from investors including Microsoft Corp., eBay Inc., PayPal Holdings Inc. and Tencent Holdings Ltd at a...
Flipkart, Microsoft announce strategic cloud partnership
Microsoft Corp. on Monday announced a strategic partnership with Flipkart under which, for a start, the online retailer will adopt Microsoft Azure as its exclusive public cloud computing platform. One person familiar...
Alibaba extends bricks-and mortar retail push with Bailian deal
Chinese tech giant Alibaba Group Holding Ltd has formed a strategic partnership with retail conglomerate Bailian Group, extending a push into bricks-and-mortar retail as online growth slows. The move comes on the heels...
