Flipkart-owned Myntra on July 26 pipped Snapdeal and the Future Group to acquire rival Jabong in a $70-million all-cash deal that creates India’s largest online fashion destination, reduces discounts and strengthens the Bengaluru-based company’s prospects of keeping Amazon at bay in t…
Tag: Snapdeal
Shopclues rolls out bidding platform AdZone
Online marketplace ShopClues on July 20 rolled out AdZone, a bidding platform for merchants to promote products using native and custom ads on it. This is expected to impact the company’s bottom line significantly and contribute to 35% of the overall revenue for the company, officials said. The s…
Only 5-10% start-ups globally will become large | Kris Gopalakrishnan, Infosys Co-Founder
Infosys Co-Founder and former CII President Kris Gopalakrishnan on July 18, said almost seventy per cent of start-ups globally will fail and only five to ten per cent will become large and scale up. “Almost seventy per cent of start-ups will fail. About 20 per cent will survive but will not…
Askme Grocery foraying into gourmet foods to pep up sales
Online grocery delivery firm AskMe Grocery is foraying into high-margin gourmet foods category, a move aimed at arresting dipping average orders on its platform. The company expects gourmet foods to account for about 10 per cent of its targeted Rs 1,800 crore GMV (worth of merchandise to be sold …
Snapdeal is acquiring GoJavas for faster delivery
Snapdeal is preparing the framework for a complete acquisition of GoJavas, the online marketplace’s primary delivery partner in which it holds a significant minority stake, according to two people familiar with the early discussions. It is yet unclear how much Snapdeal is willing to pay for…
Aramex invests in Grab.in and Logisure to bridge last-mile delivery
Global logistics service provider Aramex has invested in last mile mobile-based companies Grab.in and Logisure to strengthen its last-mile delivery service in the ecommerce segment in India. The company has committed to invest Rs 20 crore in Zomato backed last-mile delivery company Grab a Grub, w…
MasterCard invests in online payment gateway solution ‘Razorpay’
American payments and financial services company MasterCard has invested an undisclosed amount in Razorpay, an online payment gateway solution for Small and Medium Enterprises and platforms. The equity-based investment in the company backed by Tiger Global is MasterCard’s second investment.…
Snapdeal’s ex-CPO Anand Chandrasekaran sees a good deal in these 6 startups
Anand Chandrasekaran, who quit as the Chief Product Officer at Snapdeal a month ago, has announced investments in six startups — Truce, MagicX, Lucideus, LoanCircle, Lernr and Rupeek — and plans to invest in three to five more companies this year. Chandrasekaran has become an active angel investo…
Travel startups beat ecommerce marketplaces in funding race this year
Startups in travel business have received more funding than ecommerce marketplaces so far this year, according to data sourced from research firm Tracxn. Travel startups have received $366,450,000 while ecommerce marketplace startups have received $357,831,100 in funding since the beginning of 20…
Foreign firms to be invited to Startup India anniversary
The government plans to invite prominent international startups to enter India’s growing new economy. The department of industrial policy and promotion will organise a start-up conference next January to coincide with the first anniversary of the StartUp India initiative, according to an official…