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Tim Draper, founding partner of Draper Associates & DFJ

Blume Ventures goes global, ties up with US-based Draper Venture Network

Early-stage venture fund Blume Ventures has entered into a strategic partnership with Draper Venture Network (DVN), an alliance of independent venture capital firms that connects leading entrepreneurs and investors around the world. DVN was formed in 1990 by Tim Draper, a leading venture capitalist ...

13 February, 2017 | More »

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Chatbot NearGroup selected for FbStart

NearGroup Inc. has been selected by social networking giant Facebook Inc. for its FbStart programme, the company’s co-founder, Prashant Pitti, told Techcircle. The startup will receive up to $40,000 from Facebook and its 30 partners, including Amazon, UserTesting, Dropbox and MailChimp. Besides, i...

13 February, 2017 | More »

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Forrester trims India e-tail market estimate on note ban, regulatory woes

US-based market research company Forrester Research has cut the size of India’s online retail market by 36%, saying it will touch $48 billion by 2020. Last year, the firm estimated the sector to reach $75 billion by 2020. The retail market shrunk due to demonetisation, restrictions on e-commer...

10 February, 2017 | More »

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AI startup Botworx.ai raises $3 mn in seed investment

Botworx.ai, a conversational commerce platform, has raised $3 million in seed investment led by Costanoa Ventures with support from SV Angel, according to a post on the company website. The California-based company will use the new capital to build its platform and enable brands to acquire, engage a...

9 February, 2017 | More »

Snapdeal to shut C2C marketplace Shopo

Snapdeal to shut C2C marketplace Shopo

E-commerce firm Snapdeal, operated by Jasper Infotech Pvt. Ltd, is shutting down its zero commission mobile-based marketplace Shopo, according to a blog post. The app and web store will not be operational after February 10. “The e-commerce market in India will continue its robust growth. However, ...

9 February, 2017 | More »

Nasdaq-listed Nuance Communications acquires VAS firm mCarbon for $36 mn

Nasdaq-listed Nuance Communications acquires VAS firm mCarbon for $36 mn

US-based software company Nuance Communications Inc has acquired Noida-headquartered value-added services provider (VAS) mCarbon Tech Innovations Pvt. Ltd for $36 million in a cash-and-stock deal, a media report said. The deal will help Nuance expand its VAS and subscriber revenue services, The Econ...

9 February, 2017 | More »

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Fashion portal Voonik’s FY16 sales rose twice as fast as its cash burn

Voonik Technologies Pvt. Ltd’s net sales for 2015-16 rose almost forty-fold but losses widened 18 times, as the fashion e-commerce marketplace spent heavily on advertising to attract customers in a sector dominated by Flipkart-owned online retailers Myntra and Jabong. Net sales for the year throug...

8 February, 2017 | More »

Travel-tech startup Wandertrails raises $1 mn in seed funding

Travel-tech startup Wandertrails raises $1 mn in seed funding

Bangalore-based experiential travel startup Wandertrails Services Pvt Ltd has raised $1 million in seed investment from Earlsfield Capital, a UK-based venture capital firm of entrepreneurs-turned-investors. The company will use the new capital to expand its services across the country and build more...

8 February, 2017 | More »

L to R: Abhishek Kumar and Sandeep Komaravelly

Snapdeal sees two more senior-level exits

Snapdeal’s head of corporate development Abhishek Kumar and senior vice president Sandeep Komaravelly have quit the home-grown e-commerce company, a financial daily reported on Tuesday. Kumar, an alumnus of Indian School of Business, had joined Jasper Infotech Pvt Ltd-owned Snapdeal in 2014 fr...

7 February, 2017 | More »

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Will Snapdeal really turn profitable in next two years?

Snapdeal co-founder Kunal Bahl has said that the e-commerce firm is looking to turn profitable in the next two years and that it doesn’t need to raise funds unless it decides to make an acquisition. “I see a relatively clear line of sight to (profit) and we’ve been making great progress in...

6 February, 2017 | More »