As investors tighten their purse strings, India’s startup ecosystem is increasing focus on scrutinising income statements and making money on an operational level.
The deal represents a growing trend in the sector where a few well-funded players are buying smaller rivals through bolt-onstock deals or acqui-hires.
Binny Bansal’s answer is to double down focus in two areas: the main ecommerce business and logistics, a unit he knows only too well.
Ontario Teachers Pension Plan have led a Rs 1,367.6 crore funding round in Jasper Infotech, which owns and operates India’s largest online marketplace Snapdeal.com.
Kalaari Capital, an early backer of etailers like Snapdeal and Myntra, is leading a Rs 27-crore or $4-million round in online brokerage and trading company RKSV Securities.
Expanding partnerships with original equipment makers in India, investing in local companies and striking content partnership deals here are key priorities.
Mukesh Bansal, who is bowing out of Flipkart to become an entrepreneur once again said he has few regrets after leaving India’s most valuable startup.
Mukesh Bansal has resigned as head of commerce & advertising biz at Flipkart, just weeks after a restructuring that resulted in Binny Bansal’s elevation as CEO.
Ever since Jeff Bezos took the fight to Flipkart in July 2014 by revealing plans to invest $2 bn in India, the firm has steadily poured in money.
Astro has built a sizeable digital portfolio in India of over $200 million, of which Getit is the largest where it holds over 90% stake.
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