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Posts Tagged ‘ Jasper Infotech Pvt Ltd ’

Snapdeal to lay off 30% of its workforce

Saturday, February 11, 2017 | More »

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E-commerce firm Snapdeal, operated by Jasper Infotech Pvt. Ltd, plans to lay off almost 1,000 employees, which comprises 30% of its workforce, as it looks to reduce mounting losses, a financial daily reported on Saturday citing four people aware of the development. About 5,000 contract and 3,000 on-...

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Snapdeal loses yet another long-timer as Grabbon co-founder Tony Navin quits

Tony Navin, Snapdeal’s head of partnerships and strategic initiatives and one of its oldest employees, has quit the company, a national daily reported on Thursday. Navin’s exit comes just three days after the home-grown e-commerce company’s head of corporate development Abhishek Kumar and ...

10 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 »

Yen-fall

Weaker yen helps SoftBank pare valuation loss from Snapdeal, Ola investments

Japanese telecom and Internet giant SoftBank Group Corp has reported a valuation loss of ¥39.3 billon (nearly $350 million) from its financial instruments for the nine-month period ended December 31, 2016, largely due to a decline in fair value of preferred stock investment, primarily in India. The...

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 »

Jonathan Bullock

SoftBank COO Jonathan Bullock quits Snapdeal, Ola boards

SoftBank Group COO and managing director Jonathan Bullock has resigned from the boards of its two biggest investee companies in India, Snapdeal and Ola, a statement from the Japanese telecom and Internet conglomerate confirmed on Monday. Mint had reported, citing a regulatory filing, that apart from...

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 »

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Snapdeal in talks with Softbank to raise funds at lower valuation

E-commerce marketplace Snapdeal is in talks with its investor Softbank Group to raise fresh funds at a lower valuation. The e-commerce firm had raised its last funding round at a valuation of $6.5 billion, a report by Mint newspaper said on Wednesday, citing unnamed sources. Snapdeal and SoftBank ha...

25 January, 2017 | More »

Snapdeal_by-Junaid2

Snapdeal revenues up 56% but losses more than doubled to $436 mn in FY2015-16

Jasper Infotech Pvt. Ltd, which runs online marketplace Snapdeal, more than doubled its losses to Rs 2,960 crore (around $436 million) in the financial year ended 31 March 2016. Its total revenues went up by 56% to Rs 1,456.6 crore in FY2015-16. It had garnered revenues of Rs 933.3 crore with a net ...

17 January, 2017 | More »

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FreeCharge receives $57 mn from Snapdeal

Jasper Infotech Pvt Ltd, which runs e-commerce firm Snapdeal, has put in close to Rs 390 crore ($57 million) in FreeCharge, filings with the Registrar of Companies (RoC) show. As FreeCharge is in the process of raising its next external round of funding, Snapdeal’s digital payments arm has inc...

9 January, 2017 | More »

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