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Softbank Will Launch New Vision Fund in “Near Future”

16May By Sheldan RungasamyNo Comments

News

Softbank Will Launch New Vision Fund in “Near Future”

Masayoshi Son, founder of SoftBank Group Corp, the world’s largest private equity fund, announced that he was keen to set up a second Vision Fund in the near future, despite still having capital remaining in its $100 Bn Vision Fund of May 2017. In a conference held in Tokyo, the business mogul stated that capital will be raised from existing institutional investors for this new fund. Although Son said that the fund will launch in the “near future”, he did however, specify that it won’t be before the coming six months. “Vision Fund 2 will definitely come,” said Masayoshi Son at the conference, although the actual size of the fund has been kept confidential. The Vision Fund I is currently controlled by Softbank Group founder and CEO Masayoshi Son and designated CEO of Softbank Visio...

11May By Sheldan RungasamyNo Comments

FUNDING

Mumbai-Based E-learning Platform Raises $2.3 Mn Debt Funding

Toppr, the personalised e-learning and online test preparation platform, recently raised a debt funding round worth $2.3 Mn from Alteria Capial – a new investment fund launched by Ajay Hattangdi and Vinod Murali. The Mumbai-based company was founded in 2013 by Zishaan Hayath and Hemanth Goteti to assist students preparing for competitive entrance exams such as IIT, JEE Mains and Advanced, NEET, BITSAT, etc… The company provides e-learning solutions for students from 5th to 12th Grades in programs that includes questions, solutions, concepts, practice tests, and videos for app subscribers. “The Alteria team understands the needs of entrepreneurs and is sensitive to their requirements. Venture debt has been a very useful tool to grow our business without additional dilution and we are ...

10May By Sheldan RungasamyNo Comments

FUNDING

Quick-Service Restaurant Raises Rs 5 crore Funding

Charcoal Eats, a tech-driven quick service restaurant (QSR) raised a Pre-Series A funding round of Rs 5 Crore from several investors. The funds raised will serve to increase Charcoal Eats’ footprint across new demographics while consolidating its presence in current markets its operating as well. Furthermore, it will serve to invest in customer acquisition and brand building as well. Charcoal Eats aims at operating over 60 offline stores spread across 10 different cities which will be a significant upgrade from the 22 outlets it operates across six cities currently, namely Mumbai, Pune, Thane, Navi Mumbai, Nashik and Delhi-NCR. "Our strong product focus enabled by in-house technology is at the heart of our business. In the last 2 years, we have served over half a million customers...

10May By Sheldan RungasamyNo Comments

FUNDING

HeathCare Data Analytics Company Raises $25 Million Funding

Innovaccer, a prominent healthcare data analytics platform announced that it raised $25 million in a Series B funding round led by Westbridge Capital and the participation of Lightspeed Ventures. The Silicon Valley-based company will use the funds to keep developing and strengthening its industry-leading tool and go-to-market capabilities by improving its data platform and enhancing its machine learning, while adding to its already 200+ connectors to healthcare data systems. Innovaccer will also invest in developing a new array of programs destined to cater for patient engagement and platform capabilities for partners to access. Innovaccer Inc. is a startup that aims at incorporating data analytics in the healthcare sector. Its flagship product, called InData, ingests, normalizes ...

These Flipkart Employees Become Instant Millionaire After Walmart Deal

10May By Sheldan RungasamyNo Comments

News

These Flipkart Employees Become Instant Millionaire After Walmart Deal

While most Indians reacted with contempt to the news of the acquisition deal of Bengaluru-based Flipkart by Arkansas-based retail giant Walmart, many Flipkart employees must be in the seventh of heavens right now. Indeed, after the $16 billion acquisition for 77% stake, several employees are set to become millionaires from the deal as large payouts in the form of Employee Stock Option Plan (ESOP) since the company’s valuation raised from $15 billion to $20 billion. Speaking before the acquisition deal was confirmed, a Flipkart employee said, If this deal materializes, it will give a strong value to the concept of ESOPs, something that other startups may like to emulate. They will have the hope that even their companies will have an IPO or get big investors and give them a chance to ...

eBay to Relaunch its Operations in India Without Flipkart

10May By Sheldan RungasamyNo Comments

News

eBay to Relaunch its Operations in India Without Flipkart

eBay, the California-based online marketplace announced its decision to terminate its strategic partnership with Indian e-commerce Flipkart in an effort to relaunch eBay India with a differentiated offer to focus on cross-border trade, the company said in a statement released on Wednesday. The announcement comes few hours after reports of the confirmation of the acquisition deal between Flipkart and US-based brick-and-mortar giant Walmart as eBay India sold its shares it bought last year during a funding round of $1.4 billion in partnership with Microsoft and Tencent where the online marketplace poured $500 million in the Indian e-commerce in return for shares. Yesterday, eBay sold all its remaining shares in Flipkart to the deep pocketed Walmart for $1.1 billion. "Following the clos...

10May By Sheldan RungasamyNo Comments

FUNDING

AI Driven Analytics Startup Raises $145 Mn Funding

ThoughtSpot, an artificial intelligence driven analytics company announced that it raised $145 million in a funding round led by existing investors. Investors such as Lightspeed Ventures, Future Fund, Khosla Ventures, and General Catalyst participated in this funding round which witnessed the entry of Sapphire Ventures in the AI firm investors’ team. The funds raised will serve the purpose of upgrading its analytics capabilities, expanding in newer markets such as EMEA and APAC, improve is R&D activities in its centers based in Palo Alto, Seattle, Dallas and Bangalore. Since inception in 2012, ThoughtSpot raised a total of $306 million in funding and the company states to have poured over $10 million to operate efficiently in India. ThoughtSpot also revealed that the $203 b...

Now Its Official! Walmart Acquires 77% of Flipkart for $16 Billion

9May By Sheldan RungasamyNo Comments

ACQUISITION

Now Its Official! Walmart Acquires 77% of Flipkart for $16 Billion

Walmart. Inc has officially acquired Flipkart for $16 billion in a deal that soared the valuation of Indian e-commerce platform to over $20 billion, making it the biggest e-commerce acquisition ever globally. The brick-and-mortar company acquired 77% of the Indian e-tail business. The news was also confirmed by previous Flipkart investor, Softbank CEO, Masayoshi Son who also stated that the Japanese conglomerate sold out the 20% stakes it bought last year for $2.6 Bn at $4 Bn, therefore making a 60% profit on its initial investment. Out of the 50 existing investors in Flipkart, only Tiger Global Management and Tencent are expected to prolong their association with the e-commerce giant. This is also the first time that a US company bought out an entire online platform in India, driven...

How the World Reacts to the Flipkart-Walmart Acquisition Deal

9May By Sheldan RungasamyNo Comments

News

How the World Reacts to the Flipkart-Walmart Acquisition Deal

The Flipkart-Walmart acquisition deal is almost completed and only details are left to be finalized. Walmart CEO Doug Macmillan and other Walmart top executives are reportedly set to reach Indian soil shortly to officially announce the completion of the deal between the brick-and-mortar giant and the Indian e-commerce company. However, while the deal met with some optimistic reaction from users and sellers, it does not make unanimous satisfaction in the country and has hit a few hurdles already with some people looking at the deal with skepticism. Here, we have compiled the best tweets related to the acquisition deal : 1. Selling a business for $15 Bn is quite an achievement though... Walmart to acquire Flipkart for $15b. Most Indian #startups end up bein...

Japan Based Company Acquires Hiring Platform Glassdoor for $1.2 Bn

9May By Sheldan RungasamyNo Comments

ACQUISITION

Japan Based Company Acquires Hiring Platform Glassdoor for $1.2 Bn

Recruit Holdings, a Japan-based HR services provider announced on Wednesday that it reach an agreement with California-based job site operator Glassdoor to acquire the company for $1.2 billion to get access to the database of company reviews and salary data. Glassdoor is a private company founded in 2007 that allows its employees and former employees to anonymously review companies for which they work or previously worked for and their management as well. TechCrunch defines the company as a site that “collects company reviews and real salaries from employees of large companies and displays them anonymously for all members to see.” The company last received decent funding throughout its years of activity. The company raised a Series B funding round of $3 million in 2008 from Benchmark...

Amazon.in Raises $385.7 Mn Ahead of Price War Against Flipkart-Walmart

9May By Sheldan RungasamyNo Comments

FUNDING

Amazon.in Raises $385.7 Mn Ahead of Price War Against Flipkart-Walmart

Amazon is gearing up for a price war in the wake of confirmations about the Flipkart-Walmart acquisition deal. The American e-commerce giant is set to infuse its funds with fresh capital worth an eye-dropping $385.7 Mn (INR 2,600 Cr) into its Indian unit, Amazon Seller Services to rival Indian arch-enemy Flipkart, according to a Livemint report. Amazon Corporate Holdings and Amazon.com inc. have distributed $385.7 Mn worth of funds in its Indian operations, confirmed by fillings to the corporate affairs ministry. The entry of deep-pocketed Walmart in the Indian e-commerce market is alarming the US digital marketplace giant who bids to expand and strengthen its capital to rival dropping prices that will probably follow the acquisition of Bengaluru-based Flipkart. The report also st...

All You Need To Know About Mukesh Ambani’s Future Son-in-Law

8May By Sheldan RungasamyNo Comments

Entrepreneurs Talk

All You Need To Know About Mukesh Ambani’s Future Son-in-Law

Anand Piramal, a 33 year old Masters graduate from the Business School of Harvard is set to become Mukesh Ambani’s (India’s richest person) son-in-law after dropping the knee and subsequently the question to Isha Ambani, the Chairman of Reliance Industries’ only daughter. However, while everybody knows who Mukesh Ambani and Isha Ambani is, everyone wonders "Who is Anand Piramal?" Who is Anand Piramal? Anand Piramal is not the everyday son of a rich millionaire that displays his wealth on Instagram. After all, his father owns a net worth of $4.6 billion and is India's 22nd billionaire, therefore he could. Instead, Anand is a sharp and smart businessperson who makes strategic decisions with his soft-spoken and sweet personality with dreams of changing India’s society for the bet...