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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Exclusive: Ola’s head of luxury cab business quits

Abhimanyu RawalIt turns out that Ola’s head of new initiatives Sundeep Sahni’s wasn’t the only senior-level exit from the company last week. Abhimanyu Rawal, head of Ola’s luxury cab category, also left the taxi aggregator last week and joined a US retail firm, he told TechCircle. TechCircle first reported about the exit of Sahni, former MD […]

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Exclusive: Sundeep Sahni quits as Ola’s head of new initiatives

VCCircle_Quit2Cab hailing service Ola’s vice president new initiatives Sundeep Sahni has quit the company, two people with direct knowledge of the development told Techcircle. Sahni, a former MD and co-founder of Rocket Internet-incubated e-commerce marketplace Lazada Indonesia, is quitting Ola a year-and-a-half after joining the firm to start his own firm, according to one of […]

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Flashback 2016: SoftBank stays on sidelines, tanks up for future

softbank_feBy its lofty standards, 2016 was a relatively quiet year for the SoftBank juggernaut. The telecom and Internet conglomerate, which put copious amounts of money in Snapdeal, OYO Rooms and Grofers in the previous year, stayed away from making any fresh investments in India. This uncharacteristic quiet at SoftBank in terms of fresh investments can […]

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