Stayzilla’s Vasupal files bail plea; startup world rallies behind him

Jai-arrest_ThinkstockPhotos-1Chennai-based homestay aggregator Stayzilla’s co-founder and chief executive Yogendra Vasupal, who was arrested on charges of defrauding a vendor, has filed for bail before Chennai’s Special Metropolitan Magistrate. Vasupal is currently at Chennai’s Puzhal Central Prison. Vasupal was arrested by the Chennai police on Tuesday, after Jigsaw Advertising filed a criminal complaint against him alleging […]

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Flipkart in talks to raise $1.5 bn from Microsoft, eBay and others

FlipkartHome-grown ecommerce major Flipkart is in talks with a bunch of investors to raise a significantly large round of investment as the company has started seeing a renewed growth momentum under the new leadership of CEO Kalyan Krishnamurthy. The firm is in discussions with global tech giant Microsoft Corp., online marketplace eBay Inc., online payment […]

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Med-tech startup SigTuple raises $5.8 mn from Accel, IDG Ventures, others

SigTupleMedical-technology startup SigTuple Technologies Pvt. Ltd has raised $5.8 million (around Rs 38.8 crore) in a Series A funding round led by Accel Partners with participation from IDG Ventures, Endiya Partners, pi Ventures, VH Capital and Axilor Partners. A number of angel investors, including Flipkart co-founders Sachin Bansal and Binny Bansal; and Amit Singhal, senior […]

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Flipkart’s Sachin Bansal reiterates stand on ‘level playing field’ for local cos

Sachin-Bansal_feE-commerce giant Flipkart’s co-founder Sachin Bansal has re-ignited the debate around a “level playing field” for Indian startups, saying it is essential to ensure that local companies don’t get “prematurely killed” by foreign competition. “Indian companies can and they should build products which are world-class, and take them globally. Zomato, Practo and Freshdesk are clear […]

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Will Tiger man Kalyan Krishnamurthy ride Flipkart out of trouble?

Kalyan-KrishnamurthyShedding whatever remaining trappings of an advisory role, venture capital investor Tiger Global has taken direct control of Flipkart with the appointment of its former executive Kalyan Krishnamurthy as CEO of the e-commerce firm. Krishnamurthy will be responsible for the company’s profit and loss, apart from “operationally driving it”, with the COO and heads of […]

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Flipkart names Kalyan Krishnamurthy new CEO, Binny Bansal Group CEO

Binny-BansalE-commerce company Flipkart on Monday named Kalyan Krishnamurthy its new chief executive officer and made co-founder and current CEO Binny Bansal the group CEO in a major organisational restructuring. Krishnamurthy, a former Tiger Global executive, currently heads the design organisation category. Co-founder Sachin Bansal will continue to be the executive chairman, “providing strategic direction for […]

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Flashback 2016: Flipkart braves markdowns, Amazon threat

For-Flipkart-Story-TC_Shah-JunaidA steep markdown in valuation, series of top-level exits, heightened competition and prolonged funding drought—India’s biggest e-commerce company Flipkart has had a tumultuous year, to put it mildly. In fact, this was the first year since 2011 when investors didn’t infuse any capital into the company. Flipkart had raised $750 million in mid-2015. The previous […]

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Amazon to go all out in 2017, up India investments

Amit_AgarwalAmazon is planning to ramp up its investment in India in the new year as it continues to take on home-grown e-commerce players Flipkart and Snapdeal. Amit Agarwal, Amazon’s India chief, in an interview with The Economic Times said the firm “will demonstrate massive scale in 2017,” investing heavily in technology, infrastructure and innovation. On […]

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Another exit at Flipkart; Sachin Bansal’s chief of staff Satyam Bansal joins Hotstar

bansal_leadIn the midst of a flurry of exits from Flipkart comes the news of departure of Satyam Bansal, who was chairman Sachin Bansal’s chief of staff. A former director of digital marketing and alliances at the company, Satyam has joined digital video streaming company Hotstar as senior vice president, partnerships and distribution. Flipkart didn’t respond […]

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Should the government heed to Flipkart, Ola’s call for protection?

flip-olaA nationalistic fervour swells up in the Indian startup landscape with two of the largest homegrown consumer internet companies seeking protectionist policies amid heightened competition from their global rivals. Co-founders of Flipkart and Ola have demanded a level-playing field for domestic companies and even suggested blockades against foreign firms. Speaking at an event on Wednesday […]

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