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Can Warren Buffett Backed Bid Unlock Yahoo Growth Where Others Failed?

15May By reutersNo Comments

News

Can Warren Buffett Backed Bid Unlock Yahoo Growth Where Others Failed?

Warren Buffett struck media gold with a 2012 investment in debt-laden Media General Inc. Now the famed investor may try to reprise that success by supporting a bid for Yahoo Inc's Internet assets. The Berkshire Hathaway Inc chairman is backing a consortium that includes Quicken Loans Inc founder Dan Gilbert, that is seeking to buy Yahoo's online portfolio, Reuters reported on Friday. The consortium is in the second round of bidding in the auction for Yahoo's assets, people familiar with the matter said. Buffett is helping to finance the offer, one of the people added. If they succeed, the investment would be a relatively rare foray into digital media for Buffett, whose portfolio is heavily weighted toward U.S. insurers, industrial companies and major consumer brands. Yahoo,...

Yahoo’s Shortlisted Bidders offered Cash Deal

30Apr By AnkitaNo Comments

News

Yahoo’s Shortlisted Bidders offered Cash Deal

Yahoo Inc has shortlisted close to 10 bidders in the auction for its core Internet assets, including Verizon Communications Inc, with most offers involving cash rather than a combination with another company, according to people familiar with the matter. The shortlist comprises mainly large companies and big private equity firms including TPG Capital LP, and excludes many small companies that proposed some kind of combination, such as privately held Yellow Pages owner YP LLC, the people said this week. The sources declined to divulge the full list. Some bidders that did not make the shortlist because their first-round offers were not specific enough are still being kept close to the process by Yahoo's advisers, the people said. One of those bidders is Liberty Media Corp Chairman J...

18Apr By PriyankaNo Comments

ACQUISITION

JK Tyre Completes Rs 2,195 cr Acquisition of Cavendish

JK Tyre & Industries has completed the Rs 2,195 crore acquisition of Cavendish Industries, a Kesoram Industries unit, enhancing its position in the domestic market, especially the truck and bus radial segment. "With the completion of the acquisition of Cavendish Industries we have further strengthened our position in the truck and bus radial segment. It has also given us entry into two and three wheeler vertical," JK Tyre & Industries Chairman and MD Raghupati Singhania told reporters here. The acquisition is in line with strategic vision of JK Tyre to become one of the leading tyre companies of the world having a well rounded portfolio of product offerings, he added. The acquisition brings an additional capacity of 100 lakh tyres to the JK Tyre, he added. Caven...

“It’s Lack of Journalistic Ethics” Said Ola After a Report on Uber Acquisition

16Apr By PriyankaNo Comments

News

“It’s Lack of Journalistic Ethics” Said Ola After a Report on Uber Acquisition

India's leading Taxi aggregator platform Ola and its one of the investors Matrix Partners India denied a report on DNA, which alleged that Uber was acquiring stakes of all the investors, including the founders, except SoftBank, with a term sheet likely to be signed by this quarter. "We would like to state that the article, attributed to an 'unnamed source' is completely false, misleading, malicious and planted in the said newspaper with the intent of causing harm to the Ola brand and creating confusion among our stakeholders." a statement from Ola said. Ola slammed the publication for its lack of journalistic ethics, and said that it will initiate appropriate legal action and seek redressal and compensation from the newspaper for the damage caused due to the report. "We also had received...

GirnarSoft Acquires Road Side Assistance Co. Help On Wheels

7Apr By AnkitaNo Comments

ACQUISITION

GirnarSoft Acquires Road Side Assistance Co. Help On Wheels

GirnarSoft, which owns auto portals CarDekho.com, Gaadi.com and Zigwheels.com, today announced acquisition of road side assistance company Help On Wheels in an undisclosed all cash deal. The move will bolster the operations of GirnarSofts road side assistance (RSA) vertical, the company said in a statement. Founded in 2014 by Lalit Parmar and Nirmal Mitra, Help On Wheels has a client base of over 50,000 customers. It has a team of over 50 people to manage its operations and customer service. All the team members will join GirnarSoft. Both the founders will report to CarDekhos RSA vertical Car Owners Business CEO Ankur Agarwal. "Help On Wheels will help our road side assistance business scale faster, not only by giving us an established service network and client base, but also ...

Godrej acquires US-based Strength of Nature (SON)

4Apr By AdityaNo Comments

ACQUISITION

Godrej acquires US-based Strength of Nature (SON)

Godrej Consumer Products Ltd (GCPL), the fast moving consumer goods arm of the $4 billion-Godrej Group, has acquired US based company Strength of Nature. Nature a US-based company that makes hair care products targeted at women of African descent. The acquisition amount has not been disclosed. Adi Godrej, chairman of the Godrej Group, said on Saturday that with this acquisition, GCPL would be the leading company that makes hair care products for women of African descent. According to GCPL’s presentation, the global market for hair care targeted at women of African descent is valued at $4.5 billion - $2.3 billion in Africa, $1.6 billion in the US and the remaining in other regions of the world. Over the last few years GCPL has followed a growth strategy, which it calls three-by-...

Flipkart Acquired Third Payments Start-up PhonePe

1Apr By PriyankaNo Comments

News

Flipkart Acquired Third Payments Start-up PhonePe

Bengaluru, 1st April 2016: Flipkart Ltd, India's leading E-commerce platform has acquired payments start-up PhonePe Internet Pvt. Ltd.. The startup was launched last December by former Flipkart executives Sameer Nigam, Rahul Chari and Burzin Engineer. The amount of the deal is not confirmed yet but according to sources, the deal size is between $10 million to $20 million. The PhonePe team will join leading e-commerce company but will function as an independent business unit. This is Flipkart’s third major acquisition in payments, after it bought payments start-up NGPay (Jigrahak Mobility Solutions Pvt. Ltd) in 2014, and FX Mart Pvt. Ltd, which owns a prepaid wallet licence last August. “Payments has been one of the biggest hurdles for mass adoption of online shopping in India. UPI has ...

29Feb By RishabhNo Comments

ACQUISITION

ZEE Media Acquired Bagittoday.com

ZEE Media Corp. Ltd is about to acquire 80% stakes in two India Today companies- Today Merchandise Pvt Ltd (TMPL) and Today Retail Network Pvt Ltd (TRNL), as per the latest report. These two companies run together an online portal called Bagittoday.com and a television shopping channel which is yet to launch. (more…)

Freshdesk Acquired Noida Based Company Having 1000 Companies To Communicate on Visual Files

23Feb By PriyankaNo Comments

News

Freshdesk Acquired Noida Based Company Having 1000 Companies To Communicate on Visual Files

Framebench, a fast visual collaboration platform which, over the past 3 years, enabled more than a 1000 companies to annotate and communicate on visual files in real-time got acquired by Freshdesk. The amount of the deal has not been disclosed. After weeks of keeping it secret, we’re excited to announce that we’ve been acquired by Freshdesk, Inc and the team will move on to building superior customer engagement experiences in our new roles. – said Framebench Team. We’d like to thank everyone who tried and used Framebench. It’s because of you that we’ve kept building awesome stuff along the way. While we’re not accepting any more sign ups, Framebench will continue to work as is for all current customers. Some of the questions Framebench team has answered below regarding this acquisit...

Alibaba Acquired 33 Million Shares of Groupon Inc.

19Feb By AdityaNo Comments

ACQUISITION

Alibaba Acquired 33 Million Shares of Groupon Inc.

In a filing with the U.S. Securities and Exchange Commission last Friday, Alibaba Group Holding Ltd. revealed that it had acquired 32.972 million shares of class A common stock (about 5.6% of shares outstanding) in Groupon Inc. . After the news published, Groupon’s stock was up more than 20%, touched $20 per share. One week ago, the shares hit an all-time low of $2.15. Alibaba likely filed with the SEC because its stake rose above 5% of Groupon’s outstanding shares. There is no information on how much Alibaba paid for the shares. Groupon had $917.2 million in revenue in the fourth quarter of 2015. That compares to consensus estimates that called for a breakeven in earnings on revenue of $841 million. In the same period last year, it posted $750.36 million in revenue. The coupon...

Housejoy Acquired Orobind, a Personal Fitness Tech Startup

17Feb By PriyankaNo Comments

News

Housejoy Acquired Orobind, a Personal Fitness Tech Startup

Keeping success efforts up, housejoy have now extended its dominance in the industry by acquiring Orobind, an ‘at-home’ personal fitness tech startup. This move helps housejoy to further strengthen our fitness offering and offer a highly differentiated experience to its customers. Orobind, founded by Satya Vyas and Shubhanshu Srivastava in December 2014, has been a leader in the ‘at-home’ personal fitness space and is serving more than 1000 customers in Bangalore alone, with around 135 active personal trainers on the platform. As a part of this deal, Housejoy acquired the trainers of Orobind, its customer base and the technology. Talking about the acquisition, CEO & Founder Housejoy, Saran Chatterjee, said, “The acquisition is a part of our strategy to become leaders in thi...

Apple Acquired Education Technology Startup LearnSprout

29Jan By AnkitaNo Comments

ACQUISITION

Apple Acquired Education Technology Startup LearnSprout

Apple Inc announced that it has acquired an education technology startup called LearnSprout in a drive to expand it's initiative to make the iPad the future of education. LearnSprout, and their CEO Franklin Chien have been working diligently on creating a new type of educational software, which is already used in 2,500 school districts within the United States. The acquisition is possibly an important one for Apple Inc. (NASDAQ:AAPL), as they have already been pushing education tools for the iPad into school districts around the nation. As for the price that Apple paid, or just what their plans may be to integrate LearnSprout into their current educational framework, the company refused to say. “Apple buys smaller technology companies from time to time, and we generally do not discus...