Kavin Mittal gets 24-fold hike in FY16

Kavin Bharti Mittal, founder, HikeKavin Bharti Mittal, CEO at Hike Ltd, received an almost 24-fold increase in compensation for 2015-16, as the messaging app expanded its operations and attracted marquee investors. Mittal received total remuneration of Rs 18.28 crore for the year through March 2016, according to the company’s annual report. This compares with the Rs 74.61 lakh he […]

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PressPlay co-founder Anand Sinha joins FreeCharge

10377429_10152617238857772_192189687037188245_nSnapdeal-controlled digital payments platform FreeCharge has appointed Anand Sinha, co-founder and former chief executive of Sequoia Capital-backed travel entertainment startup PressPlayTV, as director of partnerships and strategic initiatives. Sinha will lead both online and offline partnerships in addition to working on several strategic initiatives for the firm, the company said in a press statement. Sinha […]

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Why Freecharge badly needs a recharge

Freecharge-Investment_Shah-Junaid2The news report last week that Japanese telecom and internet conglomerate Softbank Group Corp is in talks to invest in FreeCharge was the third in as many months speaking of fund-raise efforts by ecommerce company Snapdeal for its digital payments arm. Around a month ago, two people in the know of developments at Jasper Infotech […]

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Freecharge hires Karthik Rajeshwaran as director of strategy

Karthik RajeshwaranSnapdeal-controlled digital payments platform FreeCharge has appointed former Obi Mobiles executive Karthik Rajeshwaran as director (strategy). Rajeshwaran will use his expertise to usher-in consumer centric innovations to expand revenue across new business opportunities, Freecharge said in a press statement on Wednesday. Prior to his appointment at Freecharge, Karthik led global marketing and growth at Obi […]

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After Foxconn and Tencent, SoftBank lines up for investment in FreeCharge

Invest_feJapanese internet conglomerate SoftBank Group Corp is reportedly in talks to invest between $150 and $200 million in Snapdeal-owned digital payments unit FreeCharge. The investment could take FreeCharge’s valuation to $700 million-$1 billion, according to a report in The Economic Times on Thursday, citing two sources. Investment banks such as J P Morgan are involved […]

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Paytm in talks to raise $300-350 mn from MediaTek, Temasek and others

PaytmOne 97 Communications Ltd, which runs mobile payments and e-commerce platform Paytm, is in talks to raise $300-350 million (Rs 2,000-2,350 crore) from a clutch of potential investors that include chipmaker MediaTek Inc, Singapore state investment arm Temasek Holdings Pte and Goldman Sachs Inc, several media reports said. According to Mint, which reported the development […]

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Paytm in talks to raise $300-350 mn from MediaTek, Temasek and others

PaytmOne 97 Communications Ltd, which runs mobile payments and e-commerce platform Paytm, is in talks to raise $300-350 million (Rs 2,000-2,350 crore) from a clutch of potential investors that include chipmaker MediaTek Inc, Singapore state investment arm Temasek Holdings Pte and Goldman Sachs Inc, several media reports said. According to Mint, which reported the development […]

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Messaging app Hike raises $175 mn from Tencent, Foxconn, others

Kavin Bharti Mittal, Founder, HikeMessaging app Hike said on Tuesday it has raised $175 million (Rs 1,170 crore in a Series D funding round led by China’s Tencent Holdings Ltd and Taiwan’s Foxconn Technology Group. Existing investors Tiger Global, SoftBank Group Corp and Bharti Enterprises also took part in the round that values Hike around $1.4 billion, the company […]

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Exclusive: Snapdeal eyes nearly $1.2 bn valuation for FreeCharge

snapdeal_feOnline marketplace Snapdeal is looking to sell a stake in unit FreeCharge at a valuation of as much as $1.2 billion (Rs 8,000 crore), a person aware of the development said, as the retailer seeks to monetise its investment in the digital payments company it acquired last year. Snapdeal has been in discussions with potential […]

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