Search Results for:Shrutika Verma and Mihir Dalal
It apparently has a runway of less than four months
SoftBank is selling its also-ran portfolio companies to bigger rivals.
For SoftBank, a deal means an entry into India’s big financial services market.
The buyout is being arranged by Tiger Global MD Lee Fixel and SoftBank.
Last year, Snapdeal’s founders drew total compensation of about Rs40 crore each.
No other market illustrates Rocket’s decline more than India, one of the company’s most promising bets until last year.
Since the start of 2016, Rocket has sold Jabong and FabFurnish, two of its largest investments in the country, in a fire sale; its other holdings, Foodpanda and Printvenue are struggling to survive.
India’s largest online marketplaces Flipkart, Amazon India and Snapdeal have temporarily suspended their sales so as to comply with new e-commerce regulations that ban marketplaces from influencing product prices.
For India’s top start-ups, recruiting from California’s Silicon Valley is like a badge of honour. If an Indian unicorn—a start-up valued at $1 billion or more—can attract senior technology and product talent from companies such as Google Inc., it means the start-up has truly arrived in the big league.
The government seeks to curb pricing power of e-tailers, responding to calls by brick-and-mortar store chains that can’t match the deep discounts that have propelled the exponential growth of online retail
If the Flipkart-Alibaba deal goes through, it will make Alibaba one of the three most important investors in India, along with Tiger Global Management and Japan’s SoftBank Group. SoftBank, Alibaba’s largest investor, is also Snapdeal’s biggest backer.