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Ashish-Gupta

Exclusive: Flipkart’s Ashish Gupta joins Silicon Valley startup as India engineering head

Former vice president of engineering at Flipkart Ashish Gupta, who quit the Indian e-commerce major in February this year, has joined the Indian arm of US-based cloud enterprise storage startup Rubrik Inc as vice president of engineering. Gupta, who confirmed the development to VCCircle over a telep...

8 March, 2017 | More »

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Snapdeal’s potential fundraise from Softbank may cut its valuation in half

E-commerce firm Snapdeal is in talks to raise funds from existing investor Softbank, which could see its valuation fall below $3 billion, a financial daily reported on Wednesday. Jasper Infotech Pvt. Ltd., which runs Snapdeal, is looking to raise approximately $300 million, of which $100-150 million...

8 March, 2017 | More »

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Kae Capital invests more in parenting startup Parentune

Gurgaon-based Proparent Solutions Pvt. Ltd, which runs online community of parents Parentune, has raised an undisclosed amount in its second round of funding from existing investor Kae Capital and Singapore-based SEGNEL Ventures, a VC firm that operates in South and Southeast Asia. Parentune will us...

8 March, 2017 | More »

paytm_tc_fe

Anil Ambani’s Reliance Capital sells its stake in Paytm for $41 mn

Anil Ambani-controlled Reliance Capital Ltd has sold its nearly 1% stake in digital wallet company Paytm for Rs 275 crore ($41 million) to China’s Alibaba Group, a report by Press Trust of India stated, citing unnamed sources. Reliance Capital had put in Rs 10 crore for its investment in the w...

7 March, 2017 | More »

PICKmE

Exclusive: Gadget repair service PICKmE secures $1.79 mn from SIDBI VC

Mumbai-based PICKmE e-Solutions India Pvt Ltd has raised Rs 12 crore ($1.79 million) from SIDBI Venture Capital Fund, according to a filing with the Registrar of Companies. SIDBI has bought 30,133 shares at Rs. 3,982.34 apiece. The gadget insurance and repair services startup will use the capital fo...

6 March, 2017 | More »

Flipkart

Flipkart to add 30% workforce in 2017

Amid massive job cuts in India’s fast-growing e-commerce industry, home-grown online marketplace Flipkart is planning to ramp up its hiring efforts, a media report said. The Times of India reported, citing unnamed sources, that the company will hire 20-30% additional workforce in 2017. It said tha...

6 March, 2017 | More »

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Flipkart suffers yet another valuation markdown

Just when Flipkart Internet Pvt. Ltd was consolidating its position under the new CEO Kalyan Krishnamurthy, a fresh bout of valuation markdowns could prove to be a damper. More so, as the largest consumer internet company in India had experienced a tumultuous 2016. In fact, Macquarie Group-owned Opt...

3 March, 2017 | More »

Stayzilla’s co-founder Yogendra Vasupal

Will never chase growth over unit economics ever again: Stayzilla’s Vasupal

Yogendra Vasupal co-founded online homestay aggregator Stayzilla along with Sachit Sanghi in 2005. Stayzilla, operated by Chennai-based Inasra Technologies Pvt. Ltd, catered to both budget customers and luxury travellers. It raised about $30 million from investors including Nexus Venture Partners an...

3 March, 2017 | More »

Alibaba

Alibaba to invest $177 mn in Paytm E-Commerce, hike stake to 62%

Paytm E-Commerce Pvt. Ltd, the online marketplace arm of One97 Communications Ltd, is raising $200 million (Rs 1,334 crore) in a funding round led by Alibaba Singapore E-Commerce Pvt. Ltd, a wholly-owned subsidiary of Chinese internet giant Alibaba Group Holding Ltd, a financial daily reported on Th...

2 March, 2017 | More »

VCCircle Awards 2017

MakeMyTrip-SAIF Partners is exit of the year: VCCircle Awards

Venture capital and growth equity investment firm SAIF Partners has won the News Corp VCCircle exit of the year award for its wonderfully-engineered exit from NASDAQ-listed MakeMyTrip Ltd, wherein it pocketed more than 16 times the money it invested in stages, underlining the importance of patience ...

2 March, 2017 | More »