Competition Commission of India clears MakeMyTrip-ibibo merger

The proposed merger of online travel agencies MakeMyTrip Ltd and ibibo Group has inched closer to completion with the Competition Commission of India approving the transaction. MakeMyTrip received a letter from the anti-trust watchdog clearing the merger on Friday, the NASDAQ-listed company said in a filing to the US Securities and Exchange Commission. MakeMyTrip and […]

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Handicraft marketplace Direct Create raises funding

4545454545_feJaipur-based Rajasthan Venture Capital Fund (RVCF) has invested an undisclosed amount in Direct Create Private Limited (DC), an online and offline B2B marketplace that brings together artisans, designers and buyers, according to a press statement. “RVCF has invested in Direct Create through its third investment vehicle, RVCF India Growth Fund, which has a target corpus […]

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After raising $5.7 mn, IvyCap-backed Taskbob shuts down

ThinkstockPhotos-close-startup2Two years since its launch and after amassing $5.7 million in external funding from three investors, Mumbai-based home services startup Taskbob, run by Crenovative Ideas Pvt Ltd, has halted its operations. Aseem Khare, co-founder and chief executive of Taskbob, confirmed the development to TechCircle.in saying the startup stopped taking orders from Thursday, 19 January. “Yesterday, […]

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Myntra’s Vector E-commerce back in red as FY16 revenue rises 40%

myntra_feVector E-commerce Pvt Ltd, the biggest seller on online fashion marketplace Myntra, posted a loss of Rs 8.72 crore in FY16 after turning a profit in the last two financial years, filings with the Registrar of Companies (RoC) show. Profit after tax stood at around Rs 6.5 lakh in FY15. Revenue, however, grew from Rs […]

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Fashion marketplace Voonik in legal tussle with Surat-based vendors

VCCircle_voonik2223In another clash between sellers and online marketplace operators, fashion e-tailer Voonik and a group of Surat-based garment sellers are engaged in a legal battle over non-payment of dues. A group of garment sellers had filed a first information report (FIR) against the fashion e-commerce firm on 7 January 2016. In response, the company dismissed […]

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Deals app Little acquires beauty & wellness startup Stylofie

L to R: Balaji (CTO), Prateek (Co-founder) & Saurav (Co-founder)Little Internet Pvt Ltd, which owns the deals discovery app Little, has acquired beauty and wellness startup Stylofie for an undisclosed amount. Little aims to further penetrate the beauty and wellness segment with this acquisition. “With this acquisition, Little will get access to more than 50,000 registered visitors and over 1,000 merchants on the Stylofie […]

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Exclusive: Wedding venue marketplace Weddingz.in raises $ 1 mn

Weddingz-inMumbai-based online marketplace for wedding venues and vendors, Weddingz.in, has raised nearly $1 million (Rs 6.8 crore) from Singularity Ventures, a person close to the development told Techcircle. Existing investor Sixth Sense Ventures also participated in the round. Weddingz.in founder and CEO Sandeep Lodha, however, declined to comment on the fund-raise. In February last year, […]

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Flipkart, Amazon drop $1 bn Souq acquisition bid: Report

Snapdeal_flipkat_amazonUS-based Amazon.com Inc and Indian online retailer Flipkart have dropped a bid to acquire Middle East-based horizontal e-commerce venture Souq.com due to a disagreement over price, Bloomberg reported on Wednesday. Souq.com has now reached out to Dubai-based mall company Majid Al Futtaim, the report said, citing two people aware of the development. Amazon had started […]

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Exclusive: Simplilearn to raise $40 mn this year for acquisitions, expansion

Krishna KumarOnline certification course provider Simplilearn is planning to raise $30-40 million in Series D funding in the first half of this year, its founder and CEO Krishna Kumar told Techcircle. Simplilearn Solutions Pvt Ltd, which has so far raised $28 million from venture capital firms, last raised equity funding in April 2015. It had then […]

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Tea e-tailing startup Vahdam raises angel funding

VahdamVahdam Teas Pvt Ltd, a Delhi-based tea e-tailer, said on Wednesday it has raised funding from a clutch of angel investors to implement its expansion plans. The firm has raised Rs 4.4 crore ($650,000) from early-stage investment firm Fireside Ventures’ Kanwaljit Singh, Mumbai Angels and Singapore Angel Network. Founded in 2015 by Bala Sarda, Vahdam […]

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