Tuesday, December 24

Author: Rishabh

A love for stories and urge to be more exposed to the outer world made Rishabh to work with Pixr8 as a content writer. He choses to go with his personal interest of writing and hence is a writer not only by profession, but also by heart and choice. He is currently pursuing his B-tech from Noida.
‘This Is The Best Time For Our Business’ Says Kunal Bahl
28Jul By RishabhNo Comments
Entrepreneurs Talk

‘This Is The Best Time For Our Business’ Says Kunal Bahl

Kunal Bahl comments on the sale of Freecharge to Axis Bank, says it will provide Snapdeal the "necessary boost in resources" to continue its e-commerce journey. Just hours after the deal was announced, Bahl wrote to employees seeking to assuage concerns saying Axis Bank intends to not just retain all Freecharge employees but also "invest significantly" in the team and brand. His comments also assume significance amid reports that the Snapdeal board is leaning towards selling the e-commerce company to Flipkart. Snapdeal earlier announced the sale of Freecharge to Axis Bank for $60 million, which was much lower than the price of $400 million for which it bought Freecharge  back in 2015. Bahl referred to the transaction with Axis Bank was "a great outcome". "They intend to retain...
Read More
Flipkart Set To Takeover Snapdeal For $900-$950 Mn : Sources
26Jul By RishabhNo Comments
News

Flipkart Set To Takeover Snapdeal For $900-$950 Mn : Sources

The Board of Snapdeal has accepted the Flipkart's revised takeover offer of about $950 millions last week, two sources who remain anonymous told. Shareholders of Snapdeal will now have to approve the deal, the sources told Reuters, declining to be named as the discussions are not public.   ALSO READ: Snapdeal Divided Between Infibeam Buyout And Bigger Rival Flipkart   Snapdeal and Flipkart have not made an official statement yet. So the confirmation stays pending. Bengaluru-headquartered Flipkart had revised its initial offer for Snapdeal to up to $950 million, Reuters reported last week.   ALSO READ: Flipkart-Snapdeal Deal: Negotiations On For Higher Offer  
Read More
Yuvraj Singh Invested An Undisclosed Amount In A Co-Working Startup
26Jul By RishabhNo Comments
News

Yuvraj Singh Invested An Undisclosed Amount In A Co-Working Startup

Cricketer Yuvraj Singh has recently invested an undisclosed amount in a Delhi based co-working startup Gurukul. He will also be the brand ambassador for the same and will help creating awareness and will be the face of the company for next 4 years. "Yuvraj Singh has been involved from beginning. The paper work formalities, however, have just finished. He is a partner in the company and holds equity," said Creator's Gurukul co-founder Abhinav Tandon. "The financial structuring details can't be disclosed due to a non-disclosure agreement," he added. The investment has been done under his investment fund- YouWeCan Ventures, which has recently been active in the startup ecosystem and has backed  Healthians, EazyDiner, and Rahul Yadav’s short-lived startup Intelligence Interfaces. Gurukul ...
Read More
Paytm Further Delists Logistics Partners To Improve Customer Experience
26Jul By RishabhNo Comments
News

Paytm Further Delists Logistics Partners To Improve Customer Experience

Ecommerce platform Paytm Mall has once again made amendments in its quality control and to get things in order by delisting 6 out of its 14 logistics partners and 30 courier aggregation centres, and restricted delivery to 17,000 pin codes instead of 26,000 pin codes. Paytm cited customer experience and inability to meet service level agreements by the delisted logistics partners as reasons for the decision taken in response to an audit conducted by the marketplace. "None of the logistics partners which have been delisted are venture capital-backed," Sinha said. “We believe, working with fewer retailers and pin codes that leads to a superior customer experience is more important than rapid expansion,” said Amit Sinha, chief operating officer of Paytm Mall. Paytm had revamped its platfo...
Read More
BYJU’S Bags An Undisclosed Amount Of Funding From Tencent Holdings Ltd
25Jul By RishabhNo Comments
FUNDING

BYJU’S Bags An Undisclosed Amount Of Funding From Tencent Holdings Ltd

Indian edu-tech startup BYJU'S has once again made headlines for raising an undisclosed amount of funding from China’s Tencent Holdings Ltd. “BYJU’S has emerged as the clear leader in the Indian education-tech sector. We share BYJU’S mission of transforming education by creating personalised learning experiences for students. We are excited to be partnering with Byju on this exciting journey” said Hongwei Chen, Executive Director of Investment and M&A at Tencent. The funding will be utilized to accelerate BYJU'S product development for new markets and enable its growth through acquisitions. “We are excited to have Tencent on board with us. This makes our strong investor portfolio even more diverse,” said Byju Raveendran, founder and CEO, Byju’s. Tenccent is a Hong Kong Stock Exchan...
Read More
ANI Technologies, Ola Parent May See Some Investment From Microsoft
25Jul By RishabhNo Comments
FUNDING

ANI Technologies, Ola Parent May See Some Investment From Microsoft

American Multinational giant Microsoft may invest some money for a small stake in ANI Technologies Pvt Ltd, the company that runs Ola, in a deal where this ride hailing service will switch from Amazon Web Services (AWS) to Microsoft's Azure Cloud Platform. “The talks with Ola are in very early stages. More than the money, it is more about Nadella’s vision of partnering with more and more large technology companies in India and establish Azure as service of preference. Microsoft is likely to invest in Ola but a term sheet is yet to be issued,” one of the two persons cited above said on condition of anonymity. Ola is already in the middle of fund-raise and is currently valued around $3.5 Bn, and is the third most valued startups in the country. Ola has been in constant battle with Uber in ...
Read More
Uber’s Rival Grab Set To Dominate In Southeast After Largest Ever Fundraising
24Jul By RishabhNo Comments
FUNDING

Uber’s Rival Grab Set To Dominate In Southeast After Largest Ever Fundraising

The Singapore-based ride-hailing service is getting $2 billion worth of investment from China-based ride-hail player Didi Chuxing and Softbank. The startup also expects to raise an additional $500 million from other investors as part of this round. Provided it closes the additional sum, the company’s valuation would top $6 billion, according to a source familiar with Grab’s fundraising. The $2.5 billion round is reportedly the largest ever single financing round in Southeast Asia and demonstrates just how ferociously the powers that be are battling for ride-hailing dominance in that part of the world. The Singapore-headquartered company says it has a Southeast Asia market share of 95 percent in third-party taxi-hailing and 71 percent in private vehicle hailing. It also provides car...
Read More