Walmart is set to become the largest shareholder in Flipkart — India’s biggest ecomm co — pitching it into a direct battle with another US giant — Amazon.
Byju’s is the 11th unicorn startup from India, following messaging app Hike that joined the club more than 18 months ago.
Investors who track the online retail industry are of the view that given the advantage of being a local player, Flipkart has a strong chance of making further inroads in the tier 2 markets.
The company is reportedly also in talks with several other investors like Singapore’s Temasek Holdings and China’s Primavera Capital Group to raise another Rs 1,000 crore.
Ola was last valued at $4 billion when it raised $400 million from Chinese internet conglomerate Tencent in September.
India needs to make sure that it builds an ecosystem for the success of local businesses. If I am blunt about it, I think Europe is a digital colony of the US. Europe has nothing.
Reed Hastings sat down with ET during his visit to India for the Economic Times Global Business Summit to talk about progress it has made in India, future of the studio business and advise for startups.
Venture capital firms say LPs that had been taking macro calls on India, varying in extremes from euphoria to doom and gloom, are now more nuanced and likely to be more selective.
Sharma said he will approach the National Payments Corporation of India (NPCI), which has developed the UPI system, and even higher authorities to highlight this issue.
Flipkart’s valuation fell from $15.2 billion in 2015 to $11.6 billion in April 2017, when it raised capital in a round led by Chinese internet conglomerate Tencent.
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