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SAIF Partners checks out of MakeMyTrip with multi-bagger returns

Thursday, February 16, 2017 | More »

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Venture capital and growth-equity investment firm SAIF Partners has fully exited MakeMyTrip Ltd, according to the Nasdaq-listed online travel services provider’s filings with the US Securities and Exchange Commission. The investment firm sold its remaining stake in MakeMyTrip in the October-Decemb...

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Quikr revenue doubles in December quarter

Online classifieds portal Quikr India Pvt. Ltd doubled its revenue in the quarter-ended December over the same period last year driven by a steady increase in the number of users responding on the platform. “The company more than doubled its quarterly revenue year-on-year, despite a broader macroe...

10 February, 2017 | More »

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Budget 2017: Startups find it a mixed bag

Budget 2017 turned out to be the proverbial mixed bag for the startup community, meeting expectations on some fronts and falling short on others. While the lowering of taxes for MSMEs and tax holiday extension provided some cheer, many a startup felt it was mere tinkering that’s unlikely to br...

1 February, 2017 | More »

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Startups’ budget wish list: Tax sops, protection of early-stage investors

With budget 2017 set to be announced tomorrow, expectations are rife that the government will take measures to reduce costs for startups in their early years, including a longer tax holiday than the current three years. Startups are also seeking lower income tax slabs for their employees as well as ...

31 January, 2017 | More »

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Paytm investor Alibaba’s Ant Financial to buy US firm MoneyGram for $880 mn

In step with its international ambitions, Ant Financial Services Group, the payment business arm of Chinese e-commerce giant Alibaba Group, has agreed to buy US money-transfer company MoneyGram for $880 million. Alibaba and Ant Financial hold a significant stake in One97 Communications Ltd, the pare...

27 January, 2017 | More »

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HT Media’s revenue from digital, mobile businesses falls in Q3

HT Media Ltd, the publisher of Hindustan Times and Mint newspapers and related websites, on Tuesday reported a drop in revenue from its digital and mobile businesses for the fiscal third quarter. Revenue from the digital business fell 3% to Rs 37.1 crore in the October-December 2016 quarter from Rs ...

24 January, 2017 | More »

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Amazon leases over one mn sq ft of office space in 2016

There is no doubt that US online retailing giant Amazon is aggressively looking to narrow the marginal market share gap with Flipkart. In a further boost to its expansion plans, Amazon leased more than a million square feet of office space in India in 2016, equal to what it leased from 2008 to 2015....

23 January, 2017 | More »

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B2B logistics startup BlackBuck to raise $10 mn from IFC

International Finance Corporation plans to make an equity investment of up to $10 million (Rs 68 crore) in logistics startup BlackBuck for a minority stake, the World Bank’s private-sector arm said. The investment will help BlackBuck, operated by Bangalore-based Zinka Logistics Solutions Pvt. Ltd,...

19 January, 2017 | More »

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Rocket Internet mops up $1 bn to back startups globally

Rocket Internet SE, the German investment firm that has struggled with its bets on Indian companies, has raised $1 billion in a new fund to back Internet companies globally. The Rocket Internet Capital Partners fund is Europe’s largest fund focused on the Internet sector, the firm said in a statem...

19 January, 2017 | More »

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Flipkart, Amazon drop $1 bn Souq acquisition bid: Report

US-based Amazon.com Inc and Indian online retailer Flipkart have dropped a bid to acquire Middle East-based horizontal e-commerce venture Souq.com due to a disagreement over price, Bloomberg reported on Wednesday. Souq.com has now reached out to Dubai-based mall company Majid Al Futtaim, the report ...

18 January, 2017 | More »

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