Anil Ambani’s Reliance Capital sells its stake in Paytm for $41 mn

paytm_tc_feAnil Ambani-controlled Reliance Capital Ltd has sold its nearly 1% stake in digital wallet company Paytm for Rs 275 crore ($41 million) to China’s Alibaba Group, a report by Press Trust of India stated, citing unnamed sources. Reliance Capital had put in Rs 10 crore for its investment in the wallet firm. Besides, the financial […]

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Why a potential Snapdeal-Paytm merger makes perfect sense

For-MoEngage-Story-TC_ThinkstockPhotos-497374711_feWill they? Won’t they? Rumours come and go, but those around India’s third-largest e-commerce company Snapdeal’s merger refuse to die down, even though the suitors keep changing. For instance, not too long ago, the Jasper Infotech Pvt. Ltd-run company was in the news for exploring a potential merger with India’s biggest e-commerce player Flipkart. This […]

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Amazon plans to launch brick-and-mortar food outlets in India

Amazon005Ecommerce major Amazon has sought the Indian government’s approval to open food-only physical outlets combined with an online platform to sell locally produced food items. Citing a person who saw the application submitted to the government by Amazon Corporate Holding Pvt. Ltd, The Economic Times reported that Amazon wants to enter the food space in […]

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Flipkart, Snapdeal unlikely to remain key players: Mahesh Murthy

Mahesh-MurthyInvestor Mahesh Murthy is known for not mincing words. The co-founder of Seedfund says several businesses in India have been created with the idea of selling to industry giants, signalling greed of both entrepreneurs and investors. He is also least bothered about the valuation markdowns of some consumer Internet firms, saying it will clear the […]

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Google ends Apple’s 5-year reign as world’s most valuable brand

Google_121212Google has dethroned Apple to become the world’s most valuable brand, ending the iPhone maker’s five-year reign at the top. According to Brand Finance’s Global 500 2017 report, Google’s brand value surged as much as 24 percent last year to $109.4 billion. Cupertino-based Apple’s brand value, however, fell 27 percent to $107.1 billion, and it […]

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Paytm E-Commerce set to raise $252 mn in round led by Alibaba

Paytm E-Commerce set to raise $252 mn in round led by AlibabaPaytm E-Commerce Pvt. Ltd, the online marketplace arm of One97 Communications, is set to raise $200-252 million (Rs 1,350-1,700 crore) in an investment round led by Chinese internet giant Alibaba Group Holding Ltd, a major financial daily reported on Friday. The funding round, which marks Alibaba’s formal entry in India’s crowded e-commerce market, values Paytm’s […]

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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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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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Alibaba’s UCWeb to invest $29 mn in India, Indonesia to grow news platform

alibaba_feMobile Internet firm UCWeb, owned by Alibaba Mobile Business Group, plans to invest $29.3 million (Rs 200 crore) in the Indian and Indonesian market over the next two years. The investment will be used to tap user-generated content in India via its news distribution and content platform UC News, the company said in a media […]

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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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