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Posts Tagged ‘ Rocket Internet ’

Rocket Internet admits trusting everyone in India was a mistake

Thursday, October 20, 2016 | More »

Rocket Internet, the German internet venture builder, may have made certain miscalculations “in putting trust in everyone” while doing business in India, said a senior global executive while speaking at a startup event in Bangalore on Thursday. Rocket Internet – which operates on a venture bui...


Exclusive: Myntra brings Jabong’s tech team under own roof

Flipkart-owned fashion e-tailer Myntra has moved the research and development team of Jabong in Bengaluru to its own facility, less than two months after it acquired the lifestyle and apparel shopping portal. Both R&D teams will continue to work separately for now but any integration in the futu...

23 September, 2016 | More »


Rocket Internet sees “sluggish” growth in India

German e-commerce investor Rocket Internet AG, which this year sold Indian portfolio firms Jabong and FabFurnish, expects weak investment recovery from the South Asian country. “In India, economic activity remains buoyant, but the growth forecast for 2016 and 2017 was trimmed slightly, reflecting ...

23 September, 2016 | More »


Furniture e-tailer Pepperfry gets $31 mn from existing investors

Furniture e-tailer Pepperfry has raised Rs 210 crore ($31.3 million) from existing investors including Goldman Sachs Group Inc., as it looks to expand its network and open more offline outlets to better compete with rivals. Zodius Technology Fund, Norwest Venture Partners and Bertelsmann India Inves...

21 September, 2016 | More »


Crownit raises funding from Girish Mathrubootham, Kunal Shah and Anand Chandrasekaran

Gurgaon-based GoldVIP Technology Solutions Pvt. Ltd that operates merchant discovery and rewards platform Crownit has secured an undisclosed investment from a group of investors, it said in a statement. Those who took part in the funding round include Freshdesk CEO Girish Mathrubootham, Freecharge...

26 August, 2016 | More »


Exclusive: Pigeon Express set to buy e-comm logistics firm GoJavas’ main business

GoJavas, the logistics services provider to India’s leading e-commerce companies, is at an advanced stage of talks for a partial buy-out by Delhi-based inter-city courier service operator Pigeon Express Pvt Ltd, two people in the direct knowledge of the development told Techcircle. They said the n...

11 August, 2016 | More »


Why Rocket Internet’s India bets misfired

There is a scary similarity between Jabong and Foodpanda, although one is an online fashion store and the other a food-ordering marketplace. The two ventures were German Internet conglomerate Rocket Internet SE’s biggest bets in India and followed similar trajectories–from their launch, ...

27 July, 2016 | More »


Jabong sell-off will help us move towards profitability, says parent GFG

A realisation that it will have to pump in huge amount of capital to stay in the game and a determination to get rid of its highest loss-making subsidiary led Rocket Internet-controlled Global Fashion Group (GFG) to sell off its wholly-owned subsidiary, the Indian online fashion seller Jabong at a p...

26 July, 2016 | More »


Flipkart buys Jabong for $70 million

Flipkart-owned Myntra has agreed to acquire main competitor Jabong from Global Fashion Group for $70 million (Rs 470 crore) in cash to create India’s biggest fashion e-tailer, ending months of speculation and outbidding several potential suitors including Snapdeal. The deal will consolidate Flipka...

26 July, 2016 | More »


Praveen Sinha initiates legal action against Twitter user over financial fraud allegations at Jabong

Praveen Sinha, founding team member and former managing director of fashion e-tailer Jabong, has initiated legal action against Twitter account holder Unicon Baba who made allegations of corporate governance violations and financial fraud against Sinha during his reign at the e-commerce firm. A twee...

19 July, 2016 | More »

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