India’s third largest e-tailer Snapdeal will invest $100 million over the next one year to uplift its online fashion portfolio in the wake of surging competition from its peers. The Indi an e-commerce major will not only be focusing on selling branded products but will also build its own ca…
Companies, Finance & Markets
Big Entertainment enters video on-demand space with Chillx
Anil Ambani-owned Reliance Big Entertainment, which houses the media and entertainment business of the group, is entering into the video-on-demand space with its new over-the-top (OTT) mobile application Chillx. Reliance Entertainment has acquired a two-third stake in FunOnGo Media & Entertai…
BigBasket may consider raising $150 mn post March
Online grocer BigBasket is on the lookout to raise another round of funding of USD 150 million sometime after March next year. According to sources, this may be the last round of fund-raising before the company considers an initial public offer. BigBasket, which is believed to have recently achie…
Warburg Pincus bets 500 cr on logistics co Rivigo
Gurgaon-based logistics technology start-up Rivigo has scored a cheque of $75 million or Rs 500 crore led by private equity major Warburg Pincus at a time when there’s been a drastic cut back in growth stage funding this year. Having begun operations in 2014 as TruckFirst, the company servi…
Ola likely in talks to raise $600 mn to spruce up operations
Cab aggregator Ola is believed to be in talks with new and existing investors including SoftBank Group to raise another round of funding of around USD 600 million by the year end, a report says . The funds sought to counter competitive pressures from rival Uber Technologies is expected to give t…
Investment firm Kinnevik raises Quikr valuation
Bengaluru: While several Indian startups in recent times have seen their valuations being marked down by mutual funds holding shares of those firms, online classifieds firm Quikr’s valuation has been raised to $1.47 billion by one of its investors, Kinnevik, in its latest quarterly report. …
Ola may raise up to Rs 2k cr from Softbank
Home-grown taxi-aggregator Ola may raise up to USD 250-300 million (Rs 1,700-2,000 crore) from Japan’s Softbank. The company plans to raise around USD 500 million in a fresh funding round led by the bank. According to the report, SoftBank is leading the new round and the first tranche will close …
Amazon & Flipkart planning offline stores in smaller towns
E-commerce companies in India are exploring the idea of setting up offline stores in smaller towns as they look to grow their customer base and improve logistics in the unmapped areas. Rather than investing in their own stores, e-commerce marketplaces are partnering with local merchants who can a…
10 things to know about Makemytrip-Ibibo mega deal
In a deal that may be valued at $1.8-2 billion, Makemytrip will acquire rival ibibo in what has been pegged as the biggest acquisition in India’s online travel space. Here are ten things to know about the all-stock deal between two of India’s largest travel booking portals: 1. The combined…
Small finance banks eye priority sector lending certificates to boost fee income
Mumbai: As small finance banks gear up to start operations over the next few months, they are eyeing Priority Sector Lending Certificates (PSLC) as a key business opportunity to boost their fee income. PSLC is a short-term accounting instrument used by banks to cover shortfalls in meeting priorit…