The investor has now put together a fund of $3.75 billion to back private companies.
Tiger Global-backed Koo, an Indian alternative to Twitter, has laid off 30 per cent of its workforce of 260 employees in the last year as the budding firm, like many other start-ups in the country, battles global headwinds. "It's important for businesses of all sizes to adopt efficient and conservative approaches to see this period through. "In line with this, we have acted on some role redundancies by letting go of 30 per cent of our workforce over the course of the year," said a Koo spokesperson.
The Bangalore-based company had raised $200 million in July from existing investors.
.jpg)
Ola competes with Uber Technologies in India.
Freshdesk also launched an IT service management product Freshservice to offer cloud-based service desk solution for smaller companies for their internal IT support.
Who invested how much into Flipkart in its latest round of $1 billion funding? Vicky Nanjappa/Rediff.com finds out.
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.
Enforcement Directorate sources tell Vicky Nanjappa/Rediff.com that the probe into FDI received by Flipkart continues and a show cause notice will be issued to the online retailer.
The ban on taxi aggregators can put at risk investments of at least Rs 2,000 crore (Rs 20 billion), made by private equity (PE) and venture capital (VC) investors.
Foreign investment in India's start-ups has plummeted 72 per cent to $4.58 billion so far, from $16.2 billion during the same period last year.
Ola Cabs acquires TaxiForSure in $200-mn deal.
From a modest two-bedroom apartment in Koramangala, the Bengaluru-headquarted company now has multiple offices across the country.
The company did not disclose its new holding pattern.
The company did not disclose the valuations at which funds were raised.
Three marquee exits accounted for nearly 60 per cent of the total exit value -- BillDesk's acquisition by PayU for $4.7 billion, Paytm's $2.5 billion initial public offering (IPO), and Zomato's public market debut of $1.3 billion.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
'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.'
Yuri Milner is focussing on on consumer-driven Internet start-ups.
At that time, co-founders Sachin Bansal and Binny Bansal had made a public announcement at a Bengaluru hotel, about a $1-billion fund raising, largest so far in the Indian e-commerce sector. A day later, Amazon issued a statement that it was investing $2 billion in India.
.jpg)
According to sector officials and watchers, the funding (among the largest so far in the segment) from its existing investors -- Naspers, Accel Partners, Tiger Global and Iconiq Capital -- might be a sign of confidence they have in the company but it's still unsure if it will be enough for Flipkart to turn a corner and become profitable.
Venture capital investments in India's start-ups nearly halved to $1.5 billion in fourth-quarter 2015
A combination of bank guarantees, letters of credit, buyer's credit for computer servers have been provided to the two local operational arms by Kotak Mahindra Bank and Deutsche Bank.
Rupert Murdoch-led News Corp has acquired 25 per cent stake in real estate portal PropTiger.com for $30 million.
Recently, Slice, a payment app, acquired a 5 per cent stake in North East Small Finance (NESF) for $3.42 million - the first such deal by a fintech in a small finance bank. Slice (valued at $1.5 billion, and backed by Tiger Global, Blume Ventures and Axis Bank) will technically get a toehold in a scheduled commercial bank if NESF were to get a licence to morph into one down the line Such a transition is well within the banking regulator's declared framework. The transaction has to be seen in a larger context.
Snapdeal delivers to the Dharavi centre, where buyers pick up their orders.
Meru Cabs' founder says they were a traditional company.
These days, one frequently hears of consolidation, rollback and even closure from the start-up world.
Grant Thornton reports says total value of deals in 2013 crosses $8 bn, up 34% from the year-ago period, momentum likely to continue
The state government says Ola was using its existing cab aggregator licence to promote bike taxi services.
Investors spent much of 2016 cleaning house. And a VC tells Ranju Sarkar, "There's still some bad news left in the portfolios (of VC firms). What happens to Ola and Flipkart will drive sentiment in future."
With Nikesh Arora's exit from Softbank, India's start-ups have lost one of its biggest supporters.
UrbanClap's business model is still a work in progress.
The family office category was up 38 per cent, led by names such as Ratan Tata, Ronnie Screwvala and various Infosys co-founders.
The numbers in India may not be as big but the opportunity for serious growth is all there.
There are about 600,000 taxis in India, generating combined annual revenue of about Rs 11,000 crore (Rs 110 billion).
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.
