Former Housing CEO Jason Kothari takes the helm at FreeCharge

Jason-Kothari_CEO-Freecharge-01_feE-commerce firm Snapdeal, operated by Jasper Infotech Pvt Ltd, has appointed Jason Kothari as the new chief executive officer of mobile recharge platform FreeCharge. Kothari will also continue his key leadership role as chief strategy and investment officer at Snapdeal, the company said in its statement. He replaces Govind Rajan, who exactly a month ago […]

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Snapdeal’s potential fundraise from Softbank may cut its valuation in half

Snapdeal-by-Shah-Junaid_AE-commerce firm Snapdeal is in talks to raise funds from existing investor Softbank, which could see its valuation fall below $3 billion, a financial daily reported on Wednesday. Jasper Infotech Pvt. Ltd., which runs Snapdeal, is looking to raise approximately $300 million, of which $100-150 million could be from SoftBank, a report by The Economic […]

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OYO in talks to raise $500 mn from SoftBank; valuation set to soar

Anil GoelBranded budget hotels marketplace OYO Rooms, run by Oravel Stays Pvt. Ltd, is in talks to raise $300-500 million (Rs 2,000-3,335 crore) from SoftBank Vision Fund, in what will possibly be one of the biggest deals in India’s consumer internet space, a daily reported on Monday. If the deal goes through, OYO will become the […]

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Snapdeal loses yet another long-timer as Grabbon co-founder Tony Navin quits

VCCircle_Quit2Tony Navin, Snapdeal’s head of partnerships and strategic initiatives and one of its oldest employees, has quit the company, a national daily reported on Thursday. Navin’s exit comes just three days after the home-grown e-commerce company’s head of corporate development Abhishek Kumar and senior vice president Sandeep Komaravelly resigned. Navin had joined Snapdeal as head […]

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Snapdeal sees two more senior-level exits

L to R: Abhishek Kumar and Sandeep KomaravellySnapdeal’s head of corporate development Abhishek Kumar and senior vice president Sandeep Komaravelly have quit the home-grown e-commerce company, a financial daily reported on Tuesday. Kumar, an alumnus of Indian School of Business, had joined Jasper Infotech Pvt Ltd-owned Snapdeal in 2014 from Palaash Ventures, an early-stage, sector-agnostic investment firm. He oversaw Snapdeal’s $400-million acquisition […]

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Vanguard slashes Ola’s valuation by 41%

taxi-thinkstock-45856987_feA mutual fund managed by US-based investment firm Vanguard Group has marked down the value of its stake in ANI Technologies Pvt Ltd, which operates cab-hailing app Ola, by 41%. This brings down Ola’s valuation to an estimated $3 billion compared with its peak valuation of $5 billion between April and November in 2015. According […]

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Exclusive: Ola CMO said to have quit, CFO Bansal may follow suit

OlaTop-level churn seems to be brewing at Ola with its chief marketing officer (CMO) Raghuvesh Sarup said to have quit the cab-hailing company, according to multiple people aware of the development. Two persons with direct access to the information told Techcircle that chief financial officer (CFO) Rajiv Bansal may also be on his way out. […]

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Snapdeal in talks with Softbank to raise funds at lower valuation

snapdeal22E-commerce marketplace Snapdeal is in talks with its investor Softbank Group to raise fresh funds at a lower valuation. The e-commerce firm had raised its last funding round at a valuation of $6.5 billion, a report by Mint newspaper said on Wednesday, citing unnamed sources. Snapdeal and SoftBank have already held discussions with valuation ranging […]

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Snapdeal appoints ex-Housing CEO Jason Kothari as strategy & investment chief

Jason Kothari, strategy & investment chief, SnapdealOnline marketplace Snapdeal has appointed ex-Housing CEO Jason Kothari as its chief strategy and investment officer, according to a statement. Kothari will be joining Snapdeal on January 16. “Jason is a strong business leader and entrepreneur who has already been the CEO of two successful companies. Rohit and I warmly welcome Jason to the Snapdeal […]

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PropTiger-Housing deal to be signed this week

PropTiger-HousingOnline property broker PropTiger and SoftBank-funded realty portal Housing.com are in the final leg of talks to ink a merger that may be announced as early as this week, two persons aware of the development told Techcircle. This would mark the second such consolidation among the top tier ventures in the online real estate or […]

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