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Paytm’s Parent One97 Communications Crosses Rs 1 lakh crore Valuation Mark

29Nov By Gauri SinghNo Comments

BUSINESS

Paytm’s Parent One97 Communications Crosses Rs 1 lakh crore Valuation Mark

The parent company India’s biggest payment services firm Paytm that is One97 Communications has reportedly and successfully crossed the valuation mark of Rs 1 lakh crore in the unofficial market. Talking about the unofficial market, the firm’s value has raced past the market capitalisation of listed blue-chips like IndusInd Bank, Mahindra & Mahindra, Bajaj Finserv, Titan, HDFC Standard Life Insurance and Godrej Consumer. One97 shares changed hands at roughly Rs 18,200 a piece this week, running up nearly 60% in the last six months after Warren Buffett’s Berkshire Hathaway bought a stake in the company. “Shares of One97 Communications have jumped from Rs 11,000 to Rs 18,000 in just six months after Warren Buffett’s firm invested,” said Sambhav Aggarwal, director, ARMS Securities,...

Do You Know India’s First Profitable E-commerce Company Lost its 71% Value in One Day

18Oct By Gauri SinghNo Comments

Market

Do You Know India’s First Profitable E-commerce Company Lost its 71% Value in One Day

Indian internet and e-commerce conglomerate Infibeam which is one of the most important companies in the country has lost 71 percent of its market value on a single day after a WhatsApp message circulating among traders raised issues about the e-commerce company’s accounting practices. The stock of the company collapsed as much as 73 percent before closing 71 percent lower at 58.45 rupees on Friday. The WhatsApp message was sent a few months ago by an Equirus analyst to some clients. This was told by people familiar with the matter asking not to be revealed as they aren’t authorized to speak on the matter. The fall in the valuation induced the company to make a voluntary clarification or explanation to the exchanges stating that there was no pending information or announcement tha...

Uber Expected to Reach the Valuation of $120 Billion Next Year

17Oct By Gauri SinghNo Comments

BUSINESS

Uber Expected to Reach the Valuation of $120 Billion Next Year

The global cab aggregator Uber has been growing at a great pace since its launch. The company is therefore, expected to be valued at valued at $120 billion when it finally goes public next year. According to the Wall Street Journal, Goldman Sachs and Morgan Stanley delivered the valuation proposals to Uber last month. Currently, the proposed valuation of the company is about $50 billion more than the company's most recent valuation, setting the stage for what would be one of the biggest listings ever. Uber and smaller rival Lyft's initial public offerings, both expected in 2019, will test investor tolerance for money losing technology unicorns. Dara Khosrowshahi, CEO of Uber stated that in September that Uber was on track for a 2019 IPO, adding that he was not concerned if Lyft went ...

Indian Hotel Chain Oyo Raises $1 billion at $5 billion Valuation

25Sep By Gauri SinghNo Comments

FUNDING

Indian Hotel Chain Oyo Raises $1 billion at $5 billion Valuation

Indian hospitality chain Oyo Hotels which is soaring high with success these days has planned to secured funds amounting to $1 billion for the purpose of expansion into China and other global regions. This round is expected to be led by existing investors including SoftBank Vision Fund, Sequoia Capital and Lightspeed Venture Partners. The existing investors have currently put in $800 million, with commitments for another $200 million. About $600 million of the total will be deployed into China where Oyo had forayed just 10 months back. “With this additional funding, we plan to rapidly scale our business in these countries, while continuing to invest further in technology and talent,” Agarwal stated. “We will also deploy fresh capital to take our unique model that enables small hotel ow...

20Sep By Gauri SinghNo Comments

FUNDING

ShareChat’s Latest Funding Round Brings Seven-fold Rise in its Valuation

The social platform for regional language known as ShareChat has secured funds amounting to Rs 720 crore ($99 million) in a funding round. The particular round was led by existing backer Shunwei Capital. The other investors that participated in the round included Morningside Ventures of China and Jesmond Holdings, an affiliate of Russian billionaire Yuri Milner’s DST Global. Following this funding round, the valuation of the company will get a boost and will reach to Rs 3,332 crore ($460 million) according to the documents filed with Registrar of Companies. With the funds raised, the company plans to foray deeper in markets like the Northeast, and also start working on monetizing its service next year through activities like advertising, influencer marketing, and in-app transactions....

China’s Ctrip May Invest $100 million in Zomato

10Sep By Gauri SinghNo Comments

BUSINESS

China’s Ctrip May Invest $100 million in Zomato

The leading travel-booking platform in China Ctrip is planning to invest in India’s online restaurant discovery and food-delivery platform Zomato as part of a financing round. According to some of the statements, the investment could go up to $400 million (Rs 2,800 crore). The company is expected to pump around $100 million into Zomato. This investment will value the food discovery firm at $1.8-2 billion. It is being stated that Ctrip will be joined by Zomato’s existing investor Ant Financial, an Alibaba affiliate, and a couple of investors. If the deal with Zomato is successfully implemented, it will be significant as the first such bet outside of travel services for Ctrip, which has a market capitalization of over $20 billion. “The discussions with Ctrip are in the last leg, with ...

19Aug By PriyankaNo Comments

INDIA

Indian Rupee Likely to Stabilise at 68-69 Against Dollar

Kolkata: The rupee is expected to stabilise at 68-69 per US dollar, riding on positive capital inflows, Economic Affairs Secretary Subhas Chandra Garg said on Saturday. The rupee, Asia’s worst performing currency, touched an all-time low of 70.09 against the dollar on Tuesday. The current turmoil in Turkey, triggered by US sanctions, had not affected the perception of India, Gard said. The flow of foreign portfolio investments (FPI) had not altered either and there had been no outflow in July, he added. During the first three months, there had been an outflow of capital and in the last year, the total outflow was around $20 billion. “If oil prices do not rise further, the chances of the rupee stabilising at 68-69 level is more,” according to Garg. When asked how the rupee will be ...

Paytm Mall Raises Huge Fund From SoftBank & Alibaba

13Jun By Gauri SinghNo Comments

FUNDING

Paytm Mall Raises Huge Fund From SoftBank & Alibaba

The e-commerce platform of Paytm known as ‘Paytm Mall’ has raised funds amounting to Rs 1500 crore from Japenese holding company SoftBank Group Corporation and its existing lender Alibaba Group Holding Ltd. According to the reports, the recent funding is a part of the funding commitment of Rs 3,000 crore that was at first announced in April. Paytm Mall has now received the third and final tranche of the deal. Alibaba and SoftBank Corp. had undertaken to invest an amount of Rs 3000 crore jointly in the Paytm Mall out of which the amount of Rs 2600 crore supposed to be invested by SoftBank and the rest Rs 400 crore by Alibaba. Paytm Mall is a Paytm-operated e-commerce platform that operates on its own mobile application making it easy for the users to have a look on a variety of brande...

Ant Financial Raises $14 Billion From National And International Investors

8Jun By Gauri SinghNo Comments

FUNDING

Ant Financial Raises $14 Billion From National And International Investors

China’s biggest online payment platform Ant Financial Services Group which operates the Alipay mobile payment service, in its recent funding, has raised a huge amount of around $14 billion, with the aim to expand its platform across the globe and bring in latest technologies. Ant Financial which is controlled by Jack Ma is an Alibaba affiliated fintech firm. The investment of the firm is being reviewed as the biggest-ever single fundraising globally by any private sector company. In a statement, Ant Group told that the funding comprised of both U.S. dollar and Chinese yuan tranches, where the dollar share made up over $10 billion and the yuan tranche was mainly contributed by the existing shareholders. "Now, with the help of our partners, we are going to accelerate our strategy," Ant...

Amazon India’s Valuation Reaches Staggering Figures

21May By Sheldan RungasamyNo Comments

News

Amazon India’s Valuation Reaches Staggering Figures

The Indian e-commerce market has become a real battlefield, whereby global mammoth such as Amazon, Walmart and even Alibaba are competing fiercely to kick each other out of the landscape. The companies’ market strategy is mostly driven towards customer acquisition and retention, to own the most available market share. Flipkart, the e-commerce giant founded by Indian entrepreneur was recently acquired by Walmart for 16 billion dollars two weeks ago for 77% stakes, making it boast a valuation of $20 billion. However, a report from Citi Research suggest that Amazon India can also be valued at the now significant milestone of $16 billion as well. Indeed, Citi Research published a report last week in which it stated that Amazon India could possibly attain $70 Bn in Gross Merchandise Volum...

16May By Sheldan RungasamyNo Comments

FUNDING

Recent MakeMyTrip Funding Raises Valuation to Rs 26,000 crore

MakeMyTrip recently raised capital from its Nasdaq-listed parent company through a rights issue that took the Gurugram-based company’s valuation to Rs 26,000 crore. Documents filed by the Indian tour and travels aggregator to the Registrar of Companies demonstrate that MakeMyTrip received around Rs 128 crore from its parent company over the last six months through subscriptions to the rights issues. The RoC filings reveal that the board of directors of MakeMyTrip agreed to allocate 323,649 equity shares at an issue price of Rs 1,000 in February of this year to its parent company MakeMyTrip Limited Mauritius on a right basis. “Consent of the board… is hereby accorded to the allotment of 3,23,649 equity shares of Rs 10 each in the capital of the company… at an issue price of Rs 1,00...

Amazon becomes the 2nd most valuable company in the world

21Mar By Sheldan RungasamyNo Comments

News

Amazon becomes the 2nd most valuable company in the world

Amazon just took Alphabet’s 2nd place in the standings of most valuable company in the world while Apple remains topper of the list boasting a valuation of $889 billion. The e-commerce giant rose by 2.7 percent on Tuesday and thus lifted its stock market value to $768 billion and $1,586.51 per share. Parent company of Google, Alphabet fell by 0.4 percent and now possesses a valuation of $764.5 billion additionally, since bagging an all-time high of 1,197 per share on Jan 29, their stock value fell by 8.5%. This achievement comes a few weeks after Amazon CEO and founder Jeff Bezos came first in Forbes annual billionaires list with a total wealth of $112 billion and thereby becoming the first American possessing more than $100 billion. All U.S tech mega-giants have competed vigor...