Co-working space The Hive, LetsVenture join forces to set up incubators

(L-R) Chaitanya Ramalingegowda, VP-investor relations at LetsVenture, Shanti Mohan, co-founder & CEO, LetsVenture and Ankit Samdariya of The HiveVirtuous Retail Services Pvt. Ltd, which operates collaborative workspace The Hive, has joined hands with online fundraising platform LetsVenture to set up and manage incubator spaces for startups. While LetsVenture-affiliated companies will have special access to The Hive’s network of collaborative workspaces across the country, startups affiliated with The Hive will receive fundraising support on […]

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Paytm’s about-turn

PaytmIndia’s top digital wallet Paytm on Thursday took a U-turn on its decision to levy a 2% charge on top-ups via credit cards, which was introduced a day earlier, saying it was doing so keeping users’ convenience in mind and that it would instead put in place new mechanisms to check misuse.

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Practo, Simplilearn, SAIF Partners among winners of VCCircle Awards

award_feDigital healthcare platform Practo, ed-tech firm Simplilearn and diagnostics chain Thyrocare were among the winners at the sixth edition of VCCircle Annual Awards, which recognise the best-performing private equity and venture capital-backed companies and transaction advisers. Private equity firm Multiples Alternate Asset Management Pvt Ltd, venture capital firm SAIF Partners and private-sector lender RBL Bank […]

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SAIF Partners checks out of MakeMyTrip with multi-bagger returns

MAKEMYTRIP-FEVenture capital and growth-equity investment firm SAIF Partners has fully exited MakeMyTrip Ltd, according to the Nasdaq-listed online travel services provider’s filings with the US Securities and Exchange Commission. The investment firm sold its remaining stake in MakeMyTrip in the October-December for about $150 million, according to VCCircle estimates. This takes the total amount that […]

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Data analytics startup Connaizen raises funding from former Citigroup exec

For-10i-SellX-Story_coins-1015125_19201Singapore-headquartered and Delhi-based data analytics firm Connaizen has raised an undisclosed amount from Vikram Sud, former Asia Pacific O&T head at Citigroup and ex-group COO of Kotak Mahindra Group, it said in a statement. The funding comes just three weeks after the startup raised an undisclosed amount in pre-seed funding from Umang Moondra, former managing […]

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Quikr revenue doubles in December quarter

Quikr002Online classifieds portal Quikr India Pvt. Ltd doubled its revenue in the quarter-ended December over the same period last year driven by a steady increase in the number of users responding on the platform. “The company more than doubled its quarterly revenue year-on-year, despite a broader macroeconomic slowdown in November and December following the move […]

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Startups’ budget wish list: Tax sops, protection of early-stage investors

TAX3With budget 2017 set to be announced tomorrow, expectations are rife that the government will take measures to reduce costs for startups in their early years, including a longer tax holiday than the current three years. Startups are also seeking lower income tax slabs for their employees as well as protection of early-stage investors from […]

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Paytm investor Alibaba’s Ant Financial to buy US firm MoneyGram for $880 mn

AlibabaIn step with its international ambitions, Ant Financial Services Group, the payment business arm of Chinese e-commerce giant Alibaba Group, has agreed to buy US money-transfer company MoneyGram for $880 million. Alibaba and Ant Financial hold a significant stake in One97 Communications Ltd, the parent company of mobile wallet firm Paytm. Reuters reported that Ant […]

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HT Media’s revenue from digital, mobile businesses falls in Q3

thinkstock-loss-feHT Media Ltd, the publisher of Hindustan Times and Mint newspapers and related websites, on Tuesday reported a drop in revenue from its digital and mobile businesses for the fiscal third quarter. Revenue from the digital business fell 3% to Rs 37.1 crore in the October-December 2016 quarter from Rs 38.2 crore a year earlier, […]

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