Relevance is what US e-commerce major eBay will gain from giving its India business to online marketplace Flipkart. Being here for more than a decade and losing the first-mover advantage long back to other e-commerce...
Ecommerce
Amazon acquires right to buy stake in fuel cell maker Plug Power
Hydrogen fuel cell maker Plug Power Inc (PLUG.O) said on Wednesday Amazon.com Inc (AMZN.O) had acquired the right to buy up to 23 percent of the company and that it would supply batteries to power forklifts used by the...
Jeff Bezos is selling $1 billion of Amazon stock a year to fund rocket venture
Amazon.com founder Jeff Bezos said on Wednesday he is selling about $1 billion worth of the internet retailer’s stock annually to fund his Blue Origin rocket company, which aims to launch paying passengers on 11-minute...
Flipkart set to raise up to $1.5 billion amid talks to buy Snapdeal
India’s largest online retailer Flipkart is set to get between $1.2 billion and $1.5 billion in fresh capital from Tencent Holdings Ltd, Microsoft Corp. and eBay Inc.—funding that will provide its ammunition in the high...
Softbank readies Snapdeal for merger with Flipkart at a valuation of $1 bn
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...
