Tiger Global | Pixr8 News

21Jul By Gauri SinghNo Comments

FUNDING

TVF Raises $6 Million In a Fresh Funding Round

One of the most Popular over-the-top (OTT) platforms, The Viral Fever (TVF) has raised $6 million (nearly 41 crores) in a fresh funding round from the investor Tiger Global. TVF raised the fresh capital at an estimated post-money valuation of around $40 million. The company had raised $10 million from Tiger Global at a valuation of $61 million, in February 2016. TVF has raised more than $20 million in external funding as of now, which includes a $4.97 million investment from Tiger Global in July 2017. According to the reports, the money was raised at a post-money valuation of around Rs 216 crore ($31 million at current exchange rates). Amongst its different YouTube channels, it consists of an estimated collective subscriber base which is close to - 10 million with The...

An Investment Firm Acquires $1 Billion Stake in SoftBank

12Jul By Gauri SinghNo Comments

ACQUISITION

An Investment Firm Acquires $1 Billion Stake in SoftBank

Investment firm Tiger Global has reportedly taken over a stake worth $1 billion in SoftBank Group and this deal has taken up the shares of the latter as much as 6.8 per cent. Tiger Global stated to the investors in a letter that SoftBank's stock price had not increased over the past five years even after its holding in Chinese e-commerce giant Alibaba had added more than $90 billion in value. Tiger manages around $22 billion in assets and deploys capital globally in both public and private markets. The company provides its services to private funds that are pooled investment vehicles. "We continue to believe the market significantly undervalues our stock and we welcome the support from a sophisticated institutional investor like Tiger Global," SoftBank stated. Masayoshi Son’s compa...

Paytm Buys Out a Flipkart and Tiger Global Backed Firm

19Jun By Gauri SinghNo Comments

ACQUISITION

Paytm Buys Out a Flipkart and Tiger Global Backed Firm

India’s leading payment gateway Paytm on Tuesday has reportedly acquired Cube 26, which is a New-Delhi based technology company backed by Flipkart and Tiger Global. The tech firm had raised a seed funding from both the investors amounting to $7.7 million in 2015. The start-up was founded by Saurav Kumar, Abhilekh Agarwal, and Aakash Jain in 2012. Cube26 produces customized Android OS for original equipment manufacturers, and at present, it is building a games and apps store by connecting India-based developers directly with smartphone users. “We are focused on building a more immersive and feature-rich mobile experience for our large active user-base,” said Madhur Deora, the chief financial officer at Paytm. “We are excited to welcome the Cube26 team on board,” he added. According to ...

Income Tax Department Begins Flipkart-Walmart Deal Audit

31May By Lavina TolaniNo Comments

News

Income Tax Department Begins Flipkart-Walmart Deal Audit

The biggest acquisition in e-commerce that shook up the world-the Flipkart-Walmart is now being examined by the Income Tax departments in India where the tax body has sent queries to Flipkart-Walmart regarding the $16 Bn worth deal. While Flipkart has responded to the details of the acquisition, Walmart's explanation is still awaited. The acquisition deal was sealed earlier on 9 May where Walmart bought 77% stake in Flipkart for a whopping $16 billion. Prior to the official deal announcement, Income tax authorities had asked Flipkart to furnish the details of the transaction to examine the tax implications of the transaction for the government. It is important to note that transaction details are crucial for the income tax department to ascertain tax liability since many investors...

15Mar By Sheldan RungasamyNo Comments

News

Walmart Planning Flipkart Takeover

Walmart Stores Inc. is set to become Flipkart’s largest shareholder as negotiations are being finalized. Walmart could buy around 20-26% stakes in the Indian company and improve its shareholding rights to 51% in tranches, according to reports. India’s biggest online retail company, Flipkart is luring the world’s largest brick-and-mortar retailer in its ranks before yet another face-off against American retailer Amazon in the India e-commerce market. The American retail giant might invest $10-12 billion for the entire stake purchase in a deal that will include the acquisition of shares owned by existing investors with the likes of Softbank, the Japanese telecom and internet giant, according to two anonymous sources close to the company. “The primary investment will be between $1-2 Bn,...

23Feb By NitishNo Comments

FUNDING

Grofers Looking to Raise $65 Million Fresh Funding But….

Bengaluru- Guragon based online grocery start-up Grofers is looking to raise $65 Million fresh funding from leading investors like Softbank & Tiger global. But the funding round will devalued 40% of Grofers valuation as per the report published by LiveMint. However the early investor in Grofers, Sequoia Capital will not participate in this round. The online grocery platform looking for much needed funding to operate their services. The leading competitor in the space bigbasket has already raised $300 million from Alibaba. Also the big daddy in Indian e-commerce space Flipkart & Amazon aggressively expanding their footprints into the Hyper-local space. As of 2016, the company has raised about Rs. 235.5 million funding from investors including SoftBank and Sequoia Capital. I...

15Jan By AdityaNo Comments

FUNDING

Payment Solution Firm Razorpay Raises $20M funding

India's payments solutions firm Razorpay has raised $20 million funding led by Tiger Global and Y Combinator with participation from Matrix Partners. However, company declined to disclose the company valuation post this fundraise. "We will use the funds for our next phase of growth by scaling products and bolstering our technology and expanding to newer markets like South East Asia," said Razorpay CEO & Co-Founder Harshil Mathur. With this funding, Razorpay has raised a total $31.5 million funding until now. It had earlier raised $11.5 million funding from a clutch of investors including Tiger Global, Y Combinator, Matrix Partners and 33 angel investors. MasterCard had also made a strategic investment in Razorpay in June 2016. This announcement comes at a time when global gian...

Hike, Airtel Payments Bank Tie-Up For Mobile Wallet

22Nov By Press Trust of IndiaNo Comments

News

Hike, Airtel Payments Bank Tie-Up For Mobile Wallet

Messaging app Hike today said it has tied up with Airtel Payments Bank to power its mobile wallet product. Hike users will have access to the bank?s vast product line including merchant and utility payments, it added. The SoftBank-backed app, which has over 100 million registered users, saw over 30 per cent month-on-month growth for its wallet service. "Through this partnership, Airtel Payments Bank gets access to over 100M (million) users on Hike and will begin powering the Hike Wallet product," Hike said in a statement. Hike Messenger VP (Product) Pathik Shah said the company has seen tremendous traction on the wallet over the last few months, most of it being organic. It is on track for over 5 million transactions this month with services like Recharge and peer to peer transa...

How Flipkart New CEO Binny Bansal Trying To Bring Back Its Old Team in Fight Against Amazon

20Jun By NitishNo Comments

News

How Flipkart New CEO Binny Bansal Trying To Bring Back Its Old Team in Fight Against Amazon

The Proverb of Old is Gold seems true in the case of India's largest e-commerce company Flipkart. Under new CEO Binny Bansal, Flipkart re-appointed Mr. Kalyan Krishnamurthy as head of categories. Before explaining anything about Flipkart re-joining strategy kindly read our previous report to get more clarification. Kalyan Krishnamurthy an executive at Flipkart’s largest investor Tiger Global Management was first appointed as a interim chief financial officer (CFO) & Category Head of Flipkart in February 2014. He left the company and joined Tiger Global again in November 2014. In 2015, Flipkart replaced its entire senior management and hired professionals from Google, Amazon etc. In 2016, due to shortage of funding and poor performance Flipkart's three senior executives lost...

3Jun By AdityaNo Comments

FUNDING

Jobs Aggregator Platform Glassdoor Raises $40 million Funding

Glassdoor, Inc., the world's most transparent jobs and recruiting marketplace, today announced the closing of a $40 million investment round led by funds and accounts advised by T. Rowe Price Associates, Inc. Existing investors Battery Ventures, Google Capital, Sutter Hill Ventures and Tiger Global also participated in the round. The company has raised approximately $200 million since it was founded in 2007. While best known for its proprietary user-generated content, Glassdoor is now one of the largest job aggregation engines in the world. No other job site offers as many job listings combined with such a vast array of workplace insights, including company ratings and reviews, CEO approval ratings, detailed pay data by job title, interview reviews, benefits reviews and office photos...

16Apr By AnkitaNo Comments

FUNDING

NestAway Raises $30-million Funding From Tiger Global

As per the report in TOI, Bengaluru-based home rental startup NestAway raises $30-million (or Rs 200-crore) funding from New York-based investment fund Tiger Global. This is the first investment from Tiger Global in 2016. Founded by Amarendra Sahu, Deepak Dhar, Jitendra Jagadev and Smruti Ranjan Parida, NestAway takes a percentage of the monthly rent it generates from the property owners in exchange for offering maintenance and upkeep. There is no brokerage that either the tenant or the owner has to pay in this model. Tiger Global, IDG Ventures, Flipkart and Ratan Tata among NestAway investors lists. NestAway working across Bengaluru, Delhi NCR, Pune and Hyderabad with plans to expand into Mumbai and Chennai. Tiger Global Investment in 2016- In 2016, Tige Global also con...

Ather “The Tesla” of India Unveiled Ather S340 Scooter

24Feb By AnkitaNo Comments

Story

Ather “The Tesla” of India Unveiled Ather S340 Scooter

To support, Make in India initiative, India’s first smart electric scooter Ather debut the first model Ather S340. IIT-Chennai batchmates Tarun Mehta and Swapnil Jain founded Bangalore-based Ather Energy in 2013. Ather (derived from the Greek word ‘aether’ for the purest form of air breathed by the gods) is a company that manufactures electric scooters and dreams to revolutionise the two-wheeler mobility game by developing India’s first smart, connected, and clean electric scooter. ALSO READ: Mahindra Launched World’s First Cloud Connected E Scooter Genze 2.0 “The inevitability of electric being the future of automobiles has led us to build an uncompromising electric scooter – with a powerful Li-ion battery pack and sub-one hour charging. Our focus on connectivity as the ...