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Info Edge invests $147K more in contacts management startup Diro Labs

Hiring portal Naukri.com’s parent Info Edge (India) Ltd has invested an additional Rs 1 crore (roughly $147,000) in contacts management startup Diro Labs, the company said in a stock exchange filing. Earlier this year, Info Edge had invested Rs 3 crore ($450,000) in the company. With the new inves...

5 December, 2016 | More »

Quikr

Quikr’s FY16 loss widens; other income props up revenue

Online classifieds site Quikr India Pvt. Ltd posted a wider loss for the year through March 2016, but the pace of increase slowed sharply as it controlled its expenses after expanding at a breakneck pace in previous years. Net loss for 2015-16 expanded to Rs 534 crore from Rs 446 crore the year befo...

2 December, 2016 | More »

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How SoftBank’s local portfolio firms have fared as chairman Son visits India

Not many investors can boast of a portfolio which is more than half full of unicorns. Japanese telecom and Internet conglomerate SoftBank Group Corp happens to be one such investor in India. Of its seven portfolio firms, four – Hike, Ola, Snapdeal and InMobi – are unicorns, meaning each startup ...

2 December, 2016 | More »

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Flipkart suffers another markdown as Vanguard slashes stake value by 33%

A mutual fund managed by US-based investment firm Vanguard Group has marked down the value of its stake in Flipkart by 33%, joining another investor Morgan Stanley in cutting India’s largest e-commerce marketplace’s valuation to historically low figures. The fresh markdown by Vanguard values Fli...

2 December, 2016 | More »

Kunal Bahl and Rohit Bansal

How much stake founders Kunal Bahl, Rohit Bansal own in Snapdeal?

Snapdeal founders Rohit Bansal and Kunal Bahl together own just 6.38% of the e-commerce firm, a fourth lower than what they held in the company two years ago. CEO Bahl owns 3.94% of Snapdeal while chief operating officer Bansal holds 2.44%, according to a report by Mint on Friday, citing documents w...

2 December, 2016 | More »

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Nokia to re-enter smartphone market in 2017; to be powered by Android

Nokia officially announced that it will re-enter the smartphone market in early 2017 with a range of new smartphones in a blogpost on Thursday. “We’ve been overwhelmed by the enthusiasm shown around the world for the return of the Nokia brand to smartphones. The HMD Global team has the a...

2 December, 2016 | More »

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Myntra targets $2 bn revenue run rate, profitability in FY18

Flipkart-owned online fashion retailer Myntra said the company has crossed $1 billion in annualised run rate riding on an impressive 80% year-on-year growth, thanks to the $70 million acquisition of Rocket Internet-backed rival Jabong and the peak selling festive season sale events. “This year has...

1 December, 2016 | More »

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Android malware Gooligan breaches over 1 million Google accounts

An Android malware has infected over 1 million Google accounts with the number of affected devices rising to 13,000 a day, says cybersecurity firm Check Point Software Technologies Ltd. Check Point said in a statement it has found traces of the malware Gooligan in dozens of legitimate-looking apps o...

1 December, 2016 | More »

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Facebook COO Sheryl Sandberg donates $100 mn to charity

Facebook Inc.’s chief operating officer Sheryl Sandberg has transferred $100 million worth of the social networking giant’s stock into a fund which is meant for philanthropic donations, according to a report by Recode citing the latest filings with the Securities and Exchange Commission. Sandber...

1 December, 2016 | More »

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Amazon India introduces in-house private fashion label Myx

E-commerce giant Amazon India has launched its second in-house private fashion label, ethnic wear brand for women Myx, as it looks to grow its apparel offerings. The development was reported by The Economic Times, citing Arun Sirdeshmukh, Amazon India’s fashion head. An email query to Amazon India...

1 December, 2016 | More »