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Author Archive ‘ Binu Paul ’

myntra_fe

Myntra clocks sales of Rs 850 crore in January

Flipkart-owned Myntra registered sales of over Rs 850 crore ($126 million) in January, including those from its recently acquired unit Jabong, a financial daily reported on Monday. Buoyed by its ‘End of Reason Sale’, the online fashion retailer hit an annual revenue run rate of $1.6 bill...

6 February, 2017 | More »

Ola

Vanguard slashes Ola’s valuation by 41%

A mutual fund managed by US-based investment firm Vanguard Group has marked down the value of its stake in ANI Technologies Pvt Ltd, which operates cab-hailing app Ola, by 41%. This brings down Ola’s valuation to an estimated $3 billion compared with its peak valuation of $5 billion between April ...

3 February, 2017 | More »

SlicePay

Exclusive: Student micro-financing startup SlicePay acquires P2P lender Trustio

Blume Ventures-backed digital payment platform for college students SlicePay has acquired Trustio, a New Delhi-based peer-to-peer lending company, in an all equity deal. The acquisition will help SlicePay expand its team and enhance its product capability, Rajan Bajaj, co-founder and chief executive...

2 February, 2017 | More »

Amazon India expands category portfolio, launches Fresh Flower Store

Amazon India expands category portfolio, launches Fresh Flower Store

Further expanding its product categories, e-commerce major Amazon has partnered with a number of flower retailers to launch Fresh Flower Store, which offers flower bookings and deliveries across five cities in the country. The store offers over 1,500 products from about 10 flower sellers including F...

1 February, 2017 | More »

Tarun Joshi

Exclusive: Management rejig at IGP as majority investor Tarun Joshi takes charge

Close on the heels of investor-led management changes at e-commerce major Flipkart and lingerie e-tailer Zivame, India’s largest multi-category gifting company IGP (earlier called Indian Gifts Portal) has expanded its management team in a top-level revamping wherein its majority investor, Tarun J...

31 January, 2017 | More »

Ola, Uber

Karnataka government asks Ola, Uber to stop ride-sharing services from Friday

The Karnataka transport department has instructed cab aggregators Ola and Uber to halt their ride-sharing services Ola Share and UberPOOL before Friday, terming them illegal. Following a two-hour-long meeting on Monday with officials from Ola and Uber as well as driver representatives, state transpo...

31 January, 2017 | More »

OneLoyalCard

Exclusive: Restaurant booking & deals startup OneLoyalCard acqui-hires Pocketin

OneLoyalCard.com, a Delhi-based table reservation and deals platform, has acqui-hired restaurant deals startup Pocketin for an undisclosed amount in an all-stock deal, as it looks to enhance its technology infrastructure and accelerate pan-India growth plans. “By acqui-hiring Pocketin, we will con...

30 January, 2017 | More »

VCCircle_Flipkart8

Flipkart may raise funds at lower valuation

E-commerce company Flipkart could be preparing to raise a new round of investment at a significantly lower valuation than its previous fundraising exercise, a media report said. Flipkart is likely to raise Rs 3,400-5,400 crore ($500-800 million) at a valuation of $10-12 billion, The Economic Times r...

30 January, 2017 | More »

OLA_UBER_JUNAID_F

Ola, Uber set for another policy battle as Karnataka says ride-sharing illegal

A senior Karnataka government official has termed as illegal the ride-sharing services that Ola and Uber offer to consumers, imposing a fresh regulatory hurdle for the two app-based cab aggregators. State Transport Commissioner MK Aiyappa was quoted as saying in media reports that the government wou...

27 January, 2017 | More »

Flipkart

Fidelity slashes Flipkart’s valuation to $5.56 bn

Fidelity Rutland Square Trust II, the mutual fund managed by Fidelity Investments, has lowered the value of its investment in Flipkart by 36.1%, valuing the e-commerce marketplace at $5.56 billion, nearly a third of its peak valuation of $15.2 billion in 2015. According to filings with the US Securi...

25 January, 2017 | More »