The government will come out with three new policies, including electronics manufacturing and data protection, as part of its efforts to make India a USD 1 trillion digital economy in a few years. Speaking after a two-and-a-half hour meeting with Indian tech industry captains, IT Minister Ravi Shankar Prasad today exuded confidence that India is […]
Snapdeal continues to lose members from top leadership, the latest to join the list being its Human Resources Head Saurabh Nigam. Nigams exit comes amid talks of a potential sale of the e-commerce firm to larger rival Flipkart. A Snapdeal spokesperson confirmed the development. “After spearheading Snapdeals Human Capital function for more than three years, […]
Snapdeal has raised over Rs 113 crore from early investor Nexus Venture Partners and founders Kunal Bahl and Rohit Bansal, amid talks of a potential sale of the e-commerce firm to larger rival Flipkart. NVP pumped in Rs 96.26 crore in the round, while Bahl and Bansal contributed Rs 8.45 crore each, according to regulatory […]
Logistics company Delhivery has received USD 30 million (about Rs 200 crore) funding from Chinese conglomerate Fosun International. This additional investment is a part of the bigger equity financing round where The Carlyle Group pumped in USD 100 mn to pick up a minority stake in the firm, according to a statement. The investment in […]
Deep Nishar spends more time roaming university hallways than he does corporate boardrooms. A former electrical engineer who helped develop Google’s mobile phone business and grow LinkedIn’s users from 30 million to half a billion, Nishar is exactly the sort of industry specialist that SoftBank Group CEO Masayoshi Son wants for his new $100 billion […]
Chinese handset maker Xiaomi will set up Mi Homes in four cities, including Delhi and Hyderabad, as it looks to increase its revenues from the offline retail market in India. Last week, it unveiled its first Mi Home in Bengaluru that will allow consumers to experience and buy all Xiaomi products under one roof. Xiaomi […]
Japanese conglomerate SoftBank has pumped in USD 1.4 billion (over Rs 9,079 crore) in Indian digital payments platform, Paytm, marking the largest fund infusion by a single investor in an Indian start-up. This is Softbanks largest investment in a single company in India. While both the companies have declined to comment on the valuation, market […]
Japanese conglomerate SoftBank Group has booked a valuation loss of USD 1.4 billion or over Rs 9,000 crore on its investments in Snapdeal and Ola as the startups faced heat from foreign rivals with deep pockets. SoftBank said it suffered a loss of USD 1 billion (Rs 6,500 crore) on its investment in Snapdeal, almost […]
Japans SoftBank is believed to have moved a step closer to securing the consent of co- investor Nexus Venture Partners (NVP) for selling Snapdeal to Indias largest e-commerce firm Flipkart. A meeting was held today and the impasse over the sale could end soon, people familiar with the matter said. SoftBank the largest shareholder in […]
After ploughing about $2 billion into minority stakes in Indian e-commerce businesses over the past few years, Japan’s SoftBank is upping the stakes, looking to play consolidator and take a more active role at a trio of leading start-ups. According to sources with direct knowledge of the matter, the solar-to-tech conglomerate is seeking to secure […]
E-commerce giant Amazon continues to aggressively expand its operations in the country with the addition of seven new warehouses, a move that will provide employment to about 4,000 people. The US-based company, which has committed an investment of USD 5 billion in the Indian market, will have 41 warehouses or Fulfilment Centres (FCs) by the […]
City based apparel seller Rajdhani Cotton has filed a complaint with Delhi Police against Jasper Infotech Private Limited, which runs e-commerce firm Snapdeal, and its founders Kunal Bahl and Rohit Bansal, for alleged non-payment of dues to them. Speaking to Pixr8 here, one of the promoters of Rajdhani Cotton, Rajat Gupta, said, “We have lodged […]