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Business & Economics

SOFTBANK PUTS $2.5 BN INTO FLIPKART’S WALLET

NEW DELHI (TIP): Flipkart has raised an estimated $2.5 billion from SoftBank Vision Fund, making the fund created by Japanese conglomerate SoftBank one of the biggest shareholders of India’s largest ecommerce player. “This is the biggest ever private investment in an Indian […]

Business & Economics

AXIS BANK BUYS SNAPDEAL’S FREECHARGE FOR RS 385 CRORE

Deal dynamics 􀂄 The sale price is huge markdown for Snapdeal, which acquired payment wallet FreeCharge for $400 m in 2015 􀂄 The deal will help the third largest private sector lender to double the customer base and address the digitally savvy people 􀂄 FreeCharge clocked revenues of Rs 80 […]

Business & Economics

FLIPKART COULD OFFER $900 to 950 MILLION FOR SNAPDEAL

NEW DELHI (TIP): E-commerce major Flipkart is expected to make a revised offer of USD 900-950 million for buying rival Snapdeal, according to sources. The new offer almost matches the initial asking price of USD 1 billion for […]

Business & Economics

PAYTM GETS RS 9,079 CRORE IN ITS WALLET FROM SOFTBANK

TO INTRODUCE NEW FINANCIAL PRODUCTS 􀂄 The funding will help Paytm expand its soon-to-be launched payments bank operations as well as grow its user base and introduce more financial products for consumers 􀂄 SoftBank has committed investments […]

Business & Economics

SNAPDEAL SEARCHES FOR FUNDS, TAKEOVER SPECULATION GROWS

HONK KONG/MUMBAI (TIP): Indian online retailer Snapdeal is seeking investment to shore up its finances after unsuccessful talks with Chinese funds and Alibaba Group Holding Ltd as it battles to remain competitive, sources with direct […]

Business & Economics

Amazon commits $3 billion more for India

BENGALURU/MUMBAI (TIP): As the Seattle-based e-commerce juggernaut Amazon closes in on the pole position of the Indian e-commerce market, its founder & CEO Jeff Bezos has announced that his company will pump in an additional$3 […]

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‘Life Mantras’ by Sahara’s Jailed Boss Subrata Roy tops in Nielsen BookScan

NEW DELHI: ‘Life Mantras’ a book by Sahara Group chief Subrata Roy has topped the non-fiction category of Nielsen BookScan. According to Nielsen best-seller list, the recently unveiled book brought out by Rupa Publication, has topped the non-fiction book […]

Business & Economics

FOREIGN FIRMS RUSH TO INDIA’S ONLINE MARKETPLACE

NEW DELHI (TIP): India‘s booming online marketplace business has attracted a new wave of merchants and sellers from countries such as China, South Korea, Japan, Singapore and the US. In fact, thousands of sellers are […]

Business & Economics

NESTLE EYES DOUBLE DIGIT GROWTH FOR MAGGI NOODLES

BAI: In the aftermath of the Maggi crisis, Nestle India is aggressively trying to increase the consumption of its flagship instant noodles brand eying double digit growth, a top company executive said. It is also […]

Business & Economics

Flipkart posts over Rs 2,000-crore loss in discount war & Big Billion Day Sale

MUMBAI: Flipkart posted a loss of about Rs 2,000 crore in the year ended March 2015, amounting to a fifth of its rapidly rising sales, as the country’s largest online retailer spent heavily to fund […]

Business & Economics

Snapdeal launches new mobile marketplace Shopo

NEW DELHI (TIP): E-commerce major Snapdeal today re-launched Shopo, a mobile-based open marketplace which will allow small businesses to list their products without paying any commission. Snapdeal had acquired Shopo in mid-2013 for an undisclosed amount. […]

Business & Economics

It’s Flipkart, Snapdeal vs Amazon, eBay

NEW DELHI (TIP): The government on Thursday began consultations on FDI in B2C e-commerce amid a sharp divide between Indian and foreign players. While domestic companies such as FLIPKART and Snapdeal opposed FDI during a meeting […]

Business & Economics

Indian tech start-ups woo talent back from America – Offer massive perks

India‘s IT industry has long been seen as a back-office backwater, even by its own engineers who started moving abroad in their droves in the 1970s. After losing top engineering talent for years to America’s […]

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Business & Economics

OLA RAISES $400M, LED BY DST GLOBAL

MUMBAI (TIP): In one of the largest financing rounds for an Indian internet startup, taxi-hailing service Ola said it has raised $400 million – or around Rs 2,500 crore – led by Russian tech billionaire […]

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Business & Economics

BENGALURU STANDS TALL WITH $2.6-BILLION VENTURE CAPITAL

BENGALURU (TIP): India‘s IT hub, Bengaluru, came in fifth in a list of cities globally that received the most venture capital in 2014, an indication of the growing vibrancy of its startup ecosystem. San Francisco […]

Business & Economics

FLIPKART BUYS OUT MYNTRA FOR $300 M

BANGALORE (TIP): Putting an end to months of speculation about what is being termed as the biggest acquisition in the Indian e-commerce business, domestic e-retailer Flipkart announced that it has acquired rival and leading fashion […]

Business & Economics

eBay leads $133m Snapdeal investment

NEW DELHI (TIP): Online auction platform eBay is leading yet another round of funding for online marketplace Snapdeal, sparking rumors of a possible buyout. In 2013, eBay lead the first funding round that resulted in […]