By Shiwen Yap
Sberbank, Russia’s national savings bank, and China’s Alibaba Group are discussing the creation of a joint venture (JV) that would integrate Alibaba’s existing cross-border e-commerce businesses in Russia and neighboring countries, including B2C marketplace AliExpress.ru. The terms of the JV would see Sberbank maintain a 50 per cent equity interest, in exchange for financial, marketing… Read more »
Amazon, Flipkart walk away from Souq takeover over price disagreement.
Snapdeal posted a 150% increase in loss from Rs 1,328 crore in FY15
Anchanto has partnered with the like of Lazada, PayTM and DKSH to launch SelluSellher while Tan Chong is launching a car production JV in Thailand.
India’s leading online grocery firms BigBasket and Grofers are said to be exploring a possible merger, for which they have held preliminary discussions which have moved slowly so far, according to a Times of India report citing sources. As per sources, the discussions began in November last year and are likely to be taken up during BigBasket’s board… Read more »
This is the third venture funding deals in the bike-sharing space in two weeks. Grains Valley Venture Capital, a RMB fund focused on the Internet, life science and artificial intelligence, also participated in the latest transaction.
Airtel Payments Bank (APB), a joint venture between Bharti Airtel Ltd and Kotak Mahindra Bank Ltd, said it will spend Rs3,000 crore to develop a pan-India banking network and digital payments ecosystem. Through their 80:20 joint venture, Bharti and Kotak aim to disrupt a banking system that has gradually woken… Read more »
In his year-and-a-half stint at Housing.com, Kothari restructured the company’s management team, moved the focus to buying and selling from rentals and downsized the workforce in a bid to improve operational efficiencies.
Online travel search portal ixigo said on Wednesday that it has acquired the team of mobile content-sharing application Reach for an undisclosed amount. “As part of the deal, the Reach team will join ixigo to help enhance ixigo’s already existing products by providing travellers not just utility, but consumable content… Read more »
Lalamove will use the funding to continue its aggressive expansion in Asia where it plans to launch in additional 60 cities this year.