Tiger Global Management, a New York-based investment company with close to $2 billion in assets under management, has shut its direct operations in India.
The company has said the funds raised will be used to invest in product development and expansion of its fast-growing mobile business.
Byju's has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India.
Flipkart, the poster boy of Indian e-commerce, hit a new high by raising $1 billion (about Rs 6,000 crore) in the latest funding round, led by existing investors Tiger Global Management and Naspers.
Walmart is likely to buy stakes of multiple Flipkart investors, including that of Tiger Global Management and Softbank to end up with a significant majority holding
With this round of funding, Flipkart's valuation has reached USD 11.6 billion, and US IT major Microsoft joins the marketplace as a strategic investor.
The new round values the company at $2.5 billion, more than double the over $1 billion valuation Dream 11 enjoyed in April 2019 when it was declared the country's first gaming unicorn.
The IPO will be sometime in the first half of next year.
Becoming a unicorn is surely a marker for a company in its growth story, but it's not a major achievement nor is it a turning point of any significant worth.
Amazon India, Flipkart and Snapdeal are currently locked in a battle for market leadership in the burgeoning Indian e-commerce sector.
The state government says Ola was using its existing cab aggregator licence to promote bike taxi services.
After multiple attempts at selling itself, including to larger e-commerce player Snapdeal, ShopClues has found a buyer in Singapore-based e-commerce platform Qoo10 in an all-stock deal.
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An industry source said the funding was part of an overall $500 million the company is planning to raise, which will value Ola at around $5 billion.
Major shareholder Kinnevik, a Swedish investment firm, devalued Quikr by 45%, referring to the exaggerated revenue resulting from fraudulent transactions that rocked the company. Quikr is now valued at about $577 million.
The investor has now put together a fund of $3.75 billion to back private companies.
Most Indian start-ups and e-commerce are largely funded by foreign investors
With funds from SoftBank, Delhivery plans to rapidly scale up its reach from 15,000 pin codes to 20,000 by the June quarter of 2019-20.
With regard to his investment in Ola, Bansal said that on the one hand, the ride-hailing major had emerged as a global force in the mobility space and on the other it continued to build deeper for various needs of a billion Indians through its platform. This is the largest funding by an individual in the app cab.
'One good thing that has come out of all this is that it shown people that online ordering is the way forward.'
If Sachin Bansal sells his stake at a little over 5 per cent and steps down from Flipkart, as reports have suggested recently, either Binny Bansal or Kalyan Krishnamurthy, CEO of Flipkart, could be an option for the leadership position.
Yuri Milner is focussing on on consumer-driven Internet start-ups.
With aggressive brand-building initiatives, the companies' advertising budgets ahead of Diwali is understood to have seen a 15% spike
Shopclues, the latest unicorn, was at the bottom of the sector loss pie.
Freshdesk also launched an IT service management product Freshservice to offer cloud-based service desk solution for smaller companies for their internal IT support.
Meru Cabs' founder says they were a traditional company.
The company did not disclose its new holding pattern.
Vikramank Singh looks back at the year gone by!
LocalOye is a Bengaluru-based marketplace for local household and personal service providers.
'We had a great product for the global market and we could sell it globally resulting in this amazing growth.' 'When customers come online and buy a product, they don't look at whether it is created in India or somewhere else.'
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