By Anirban Sen
Bansal insisted that the US-based retail giant had, in fact, made a long-term bet on India that would pay off over the next five to ten years.
The acquisition comes two months after Grab launched GrabAds to help brands build presence across its vehicle fleet and mobile app.
Ola, backed by Japan’s SoftBank Group, first expanded its international operations with a foray into Australia and the UK earlier this year.
Alibaba Group Holdings Ltd has made a strategic follow-on investment in YCloset, a Beijing-based female clothes sharing platform.
The latest funding round brings Tuhu’s total funding amount to date to $574.8 million.
Indonesian online B2B marketplace Ralali said it had raised $7 million in a funding round led by Japan’s SBI Group, Southeast Asian VC Addventures and global incubator Digital Garage, confirming a report by this portal in July. The fresh fund will be used to accelerate Ralali.com’s mission to serve Indonesia’s 30… Read more »
Uber and Careem held preliminary talks in July to combine their Middle Eastern ride-hailing services, hoping to resolve a costly rivalry in the region. A deal could value Careem at $2 billion to $2.5 billion
Ola has raised the round from Hong Kong-based Sailing Capital and China-Eurasian Economic Cooperation Fund (CEECF).
If the deal goes through, the merged entity could raise $250 million from China’s Alibaba Group Holding Ltd.
Meesho last raised $11.5 million in a series-B round from Sequoia India, SAIF Partners, Y Combinator and Venture Highway.