Flipkart suffers yet another valuation markdown

Flipkart22Just when Flipkart Internet Pvt. Ltd was consolidating its position under the new CEO Kalyan Krishnamurthy, a fresh bout of valuation markdowns could prove to be a damper. More so, as the largest consumer internet company in India had experienced a tumultuous 2016. In fact, Macquarie Group-owned Optimum Fund’s decision to lower the value of […]

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Morgan Stanley trims Flipkart valuation to $5.39 bn

VCCircle_Flipkart8Indian e-commerce firm Flipkart has suffered its second markdown in as many months with a mutual fund managed by Morgan Stanley slashing the value of its stake in the company by 3%. According to filings with the US Securities and Exchange Commission (SEC), a Morgan Stanley fund lowered the value of the Flipkart shares it […]

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Fidelity slashes Flipkart’s valuation to $5.56 bn

FlipkartFidelity Rutland Square Trust II, the mutual fund managed by Fidelity Investments, has lowered the value of its investment in Flipkart by 36.1%, valuing the e-commerce marketplace at $5.56 billion, nearly a third of its peak valuation of $15.2 billion in 2015. According to filings with the US Securities and Exchange Commission (SEC), the American […]

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Flipkart suffers another markdown as Vanguard slashes stake value by 33%

VCCircle_Flipkart8A mutual fund managed by US-based investment firm Vanguard Group has marked down the value of its stake in Flipkart by 33%, joining another investor Morgan Stanley in cutting India’s largest e-commerce marketplace’s valuation to historically low figures. The fresh markdown by Vanguard values Flipkart at $7.34 billion while Morgan Stanley slashed the value of […]

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Markdown plagues Flipkart again as Morgan Stanley cuts valuation to $5.57 bn

For-Flipkart-Story-TC_Shah-JunaidA mutual fund managed by Morgan Stanley has marked down the value of its shares in Flipkart by 38.2% leaving India’s largest e-commerce marketplace’s valuation at $5.57 billion, nearly a third of its peak valuation of $15.2 billion last year. The fund has slashed the value of its Flipkart shares to $52.13 per share as […]

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Indonesian unicorn Go-Jek sets up engineering facility in Bengaluru

For-Go-Jek-Story_ThinkstockPhotos-470318460Jakarta-based ride-hailing and on-demand services startup Go-Jek has opened an engineering facility in Bengaluru, the company announced on Thursday. But the founder and CEO of the company Nadiem Makarim, who is a Harvard Business School graduate, told Techcircle that it has no immediate plans to enter the ride-hailing market in the country. Go-Jek, which is […]

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US based home décor startup Houzz enters India, hires BabyOye’s Nadkarni

Sanjay NadkarniPalo Alto based online design and home décor startup Houzz Inc is all set to launch operations in India and has appointed Babyoye founder Sanjay Nadkarni the country head. Nadkarni took charge of his new assignment on the first of August, according to his profile update on professional networking platform Linkedin. He, however, did not […]

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Online food ordering platform Swiggy raises $7 mn

swiggy_feOnline food ordering platform Swiggy, which is run by Bangalore-based Bundl Technologies Pvt Ltd, said it has raised Rs 47 crore (around $7 million) more from existing investors, including Norwest Venture Partners, DST Global and Accel Partners. The Economic Times, which first reported the development citing the company’s filings with Registrar of Companies (RoC), said […]

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Ola raises $400M Series E round from DST, GIC, Falcon Edge & others; valued at $2.4B

Mumbai-based ANI Technologies Pvt Ltd, which runs online cab booking service Ola (formerly Olacabs), has raised $400 million (Rs 2,495 crore) in its Series E round of funding led by Russian investment firm DST Global, it said on Thursday. This completes the funding round which sought to raise as much as Rs 2,520 crore and […]

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Online cabs aggregator Ola raises $310M led by DST Global; valued at $2.3B

Mumbai-based ANI Technologies Pvt Ltd, which runs online cab booking service Ola (formerly Olacabs), has raised $310 million (Rs 1,952 crore) in its fresh round of funding led by Russian investment firm DST Global, according to VCCEdge, the data research platform of VCCircle, based on filings with Registrar of Companies. The latest deal values Ola […]

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