Homegrown e-commerce major Flipkart has bumped up the reserves earmarked for financing investments, making acquisitions and extending inter-corporate loans to Rs 8,000 crore ($1.25 billion), show its recent filings with the Ministry of Corporate Affairs. In a board meeting on 29 August, the compa…
Tag: Ananth Narayanan
India’s start-up story: What works and what doesn’t?
Participating in a debate on ‘India’s Startup Story: Where Do We Go From Here?’, Mahesh Murthy, Co-Founder of Seedfund, said startups, which get launched when the markets are doing well, can sometimes lead to a false sense of security. Rajiv Lochan, the MD & CEO of The Hindu Group, who modera…
Online learning portal Unacademy raises Rs 30 cr in funding
Bengaluru: Unacademy, the online learning platform, has raised $4.5 million (approx. Rs 30 crores) in a Series A funding led by Nexus Venture Partners and existing investor Blume Ventures. Girish Mathrubootham, CEO of Freshdesk and Ananth Narayanan, CEO of Myntra along with Stanford Angels have a…
Myntra to provide 10 small brands with technical, financial support
Myntra, the country’s largest fashion ecommerce company, is reviving an incubation programme aimed at providing 10 small brands with technical, design and financial support, targeting about $500 million worth of business from them in the next five years. The online retailer had nurtured about a d…
Cash on delivery: 2 million shipments stuck with e-tailers
E-commerce players who stopped accepting orders made through cash on delivery (CoD) on Wednesday collectively have 1.6-2 million shipments stuck in the pipeline which were ordered through this payment route, as per industry sources. The government’s move to ban Rs 500 and 1,000 currency not…
$1 billion club in sight for Myntra
Myntra said it recorded gross sales worth $1 billion on an annualised basis in July riding on the success of an aggressive end-of-season sale. The company, which also acquired rival Jabong last month, now controls over two-thirds of the online fashion market with parent Flipkart, which is widely …