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CARS24 raises USD 200 Million, Becomes Unicorn

25Nov By AdityaNo Comments

FUNDING

CARS24 raises USD 200 Million, Becomes Unicorn

New Delhi, Nov 25th, 2020: Online used car marketplace CARS24 raises USD 200 million (around Rs 1,480 crore) in its latest funding round, led by DST global. Other existing investors including Exor Seeds, Moore Strategic Ventures, and Unbound also participated in this round. The latest round of funding raises Cars24 valuation at over USD 1 billion. The funding will be used to invest aggressively in technology and product innovation and scale new business verticals, it added. The company has raised a total funding of USD 400 million till date from investors including Sequoia India and Kingsway Capital. Last year, it had also raised funds from cricketer M S Dhoni. With annual transactions exceeding 2,00,000 units and a 4X increase in website engagement, the company has already...

Encuentra24 and OLX Group Merged in Central America

14Jul By AnkitaNo Comments

BUSINESS

Encuentra24 and OLX Group Merged in Central America

BERN, Switzerland, July 14, 2020-- Encuentra24, a leading marketplace in Central America and OLX Group, a leading global marketplace network, announced their merger in Central America. As part of the deal, Encuentra24 and OLX Group will combine their operations in four countries. In Panama, Costa Rica and El Salvador, the existing Encuentra24 and local OLX platforms will merge under the Encuentra24 brand. In Guatemala, the local OLX platform will merge and launch under the Encuentra24 brand. Encuentra24 will manage the new local operations in all four countries, in addition to its existing businesses in other markets in Central and Latin America. This merger will provide the more than five million monthly users with access to a new, best-in-class online classifieds experience...

BigCommerce files for a $100 million IPO

14Jul By AnkitaNo Comments

Market

BigCommerce files for a $100 million IPO

BigCommerce Holdings, an on-demand Saas based platform that enables SMBs to build online stores, filed for IPO with the SEC to raise up to $100 million. BigCommerce simplifies the creation of online stores through ease-of-use, enterprise functionality, and flexibility. It powers both its customers' branded eCommerce stores and their cross-channel connections to popular online marketplaces, social networks, and offline point-of-sale systems. As of June 1, 2020, it served approximately 60,000 online stores in approximately 120 countries. The Austin, TX-based company was founded in 2003 and booked $120 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol BIGC. BigCommerce Holdings filed confidentially on January 9, 2020....

15Jun By AdityaNo Comments

FUNDING

Ed-tech startup Edvizo raises $150,000 in funding

Bangalore-based ed-tech startup Edvizo raises $150,000 (more than Rs 1.13 crore) in a seed funding round from Inflection Point Ventures. Edvizo acts as an online marketplace to search, compare and enroll in the best institutes for competitive exam preparation. It enables coaching institutes to get more students through their platform thereby helping them reduce their expenses on marketing and branding and invest more in acquiring top teaching talent. Edvizo has associated with 2650 institutes already and has over 50,000 registrations on its platform. The venture intends to utilise these funds to strengthen its technical & sales team, along with acquiring more users and expanding to more cities. "We are excited to work with IPV to continue building and rolling out our ed-tech ...

12Feb By PriyankaNo Comments

ACQUISITION

GoDaddy Acquires Uniregistry and its Marketplace

SCOTTSDALE, Ariz., Feb. 11, 2020-- GoDaddy Inc is acquiring Uniregistry's leading domain registrar and marketplace businesses. Financial details of the transaction were not disclosed. The deal is expected to close sometime in Q2 2020. The Uniregistry domain registry is not part of the transaction. Uniregistry started in 2014 by catering to domain name investors with specialized tools to register, manage and sell domains. They later expanded its service to other audiences while still focusing on domain name investors. "Uniregistry is unique in that domain investors built it from the ground up so their products and services have always catered to the domain investor community," said GoDaddy Vice President Paul Nicks. "This acquisition reinforces GoDaddy's commitment to domain inve...

Online Platform Indiamart IPO subscribed 36 times

27Jun By AnkitaNo Comments

Market

Online Platform Indiamart IPO subscribed 36 times

27th June, 2019- The initial public offer of IndiaMART InterMESH, an online marketplace for business products and services, was subscribed 35.87 times so far on the final day of bidding on 26th June 2019. The Rs 475 crore IPO received bids for 9,65,97,705 shares against the total issue size of 26,92,824 shares, as per data available with the NSE till 16:45 hrs. The initial public offer (IPO) is of 48,87,862 equity shares including anchor portion of 21,95,038 equity shares. The price range for the offer, which opened for bidding on Monday, has been fixed at Rs 970-973 per share. IndiaMart InterMesh had raised more than Rs 213 crore from anchor investors last week. ICICI Securities Ltd, Edelweiss Financial Services Ltd, a...

24Jun By AdityaNo Comments

Market

IndiaMart IPO Opens Today

India based B2B e-commerce platform IndiaMart initial public offer (IPO) launched today with a price band of Rs 970-973 to raise over Rs 474 crore. The company has offered 48,87,862 equity shares in the issue, which will close on June 26. The price band is set at Rs 970-973 per equity share of face value of Rs 10 each. "The floor price is 97 times the face value of equity shares and the cap price is 97.3 times the face of the equity shares," according to the announcement made by IndiaMart. The existing investors Intel Capital, Amadeus, DPF Limited along with promoter Dinesh Chandra Agarwal, are diluting some of their stake for the IPO. Intel Capital (Mauritius) has put up to 20,76,190 equity shares for sale in the offer, Amadeus 1,70,502 equity shares, Amadeus IV DPF limited 2...

22Jun By AdityaNo Comments

FUNDING

Indiamart Raises $30 Million funding before IPO

Indiamart, India's leading online marketplace app for business products and services, said it has raised more than $30 million from 15 anchor investors by allotting 21,95,038 equity shares at a price of Rs 973, the upper band of its IPO that opens on June 24. ICICI Mutual Fund, HDFC Mutual Fund, SBI Mutual Fund, Birla Mutual Fund, Hornbill Capital Advisers LLP are among the 15 anchor investors. IndiaMart said it will launch its initial public offering from June 24 and has fixed a price band of Rs 970973 per share. The initial public offering (IPO) is of up to 48,87,862 equity shares, according to a statement by the company. Promoters Dinesh Chandra Agarwal and Brijesh Kumar Agrawal will sell 14,30,109 shares through the issue, ...

1May By AnkitaNo Comments

FUNDING

Blackbuck an Online Marketplace for Trucking raises $150 million funding

BlackBuck, an online marketplace for trucking has raised USD 150 million funding led by Goldman Sachs Investment Partners and Silicon Valley-based Accel. Wellington, Sequoia Capital, B Capital, and LightStreet were the other new investors also participated in the funding round. The latest round, which takes the total quantum of funds raised by the company to over USD 230 million, also saw participation from existing investors Sands Capital and International Finance Corporation, the investment arm of the World Bank, the statement added. BlackBuck plans to deploy these funds to penetrate deeper into the national freight transportation market, investing heavily in technology, boosting product and data science capabilities. "As part of this round, the employees at BlackBuck have a...

E-commerce Platform Udaan Raises $500 Mn from Lightspeed India And More.

21Feb By Sabhyata AgarwalNo Comments

FUNDING

E-commerce Platform Udaan Raises $500 Mn from Lightspeed India And More.

The business-to-business electronic commerce platform Udaan has raised $500 million in a Series B round of funding from Lightspeed Venture Partners, Lightspeed India and DST Global founder Yuri Milner’s personal investment vehicle Apoletto. It also involved Ravi Mhatre from Lightspeed Venture Partners and Bejul Somaia from Lightspeed India also took part in the transaction. This funding is recognised to be one of the biggest funding rounds at an early stage in the Indian startup ecosystem. The company is going to use the current funding's to hire more engineers and sales executives, expand its logistics network, to add new sellers and buyers and to introduce new services. “B2B ecommerce is a big market opportunity with 500 million SMEs doing annual trade worth of $600-800 billion. In...

Paytm Mall Reports Net Loss of Rs 13.63 Cr in 2016-17

10Oct By AnkitaNo Comments

BUSINESS

Paytm Mall Reports Net Loss of Rs 13.63 Cr in 2016-17

Paytm Mall reported a net loss of Rs 13.63 crore on total sales of Rs 7.35 crore between August 2016 and 31 March 2017, as per the filings with Registrar of Companies (RoC). Total expenditure was Rs20 crore, while reserves and surplus stood at Rs1,284 crore, the filings showed. Paytm Mall spun off as a separate entity earlier this year and stated that since it has recently started its operations, it should not be seen as a loss but an investment. "These are the initial years for Paytm Mall and we have a long-term perspective on building a successful tech business. We will help customers receive the same trusted retail experience synonymous with our brand and act as a technology enabler for the country's massive offline retailer community. We will achieve this with our first-of-its-k...

30Jul By AnkitaNo Comments

FUNDING

Delhi Based Brick2wall Raises Rs 1.3 Crore Angel Funding

Delhi-based Brick2wall Technologies, which owns and operates Brick2wall.com, an online marketplace for sourcing construction materials as well as construction related services, has raised $200,000 in an angel round from multiple investors. These funds will be deployed for technology upgradation, increasing customer reach, and developing new business lines in Delhi NCR. Brick2wall, incorporated in July 2016 by brothers Nishant Garg and Shashank Garg, claims to be India’s largest marketplace that provides “live prices” of over 40,000 SKUs ranging from core building materials (cement, steel, bricks) to finishing items (electrical, wall finish, sanitary), which it fulfills through its over 500 vendors in Delhi-NCR. The investors who participated in the round include Sundeep Sahni, Founde...