ShopClues investors rally behind Radhika and Sanjay in battle against Sandeep Aggarwal

Sanjay Sethi and Radhika AggarwalShopClues investors have rallied behind the firm’s management led by Radhika Aggarwal and Sanjay Sethi in their showdown with founder and CEO Sandeep Aggarwal—the estranged husband of Radhika—who went public about their marital discord and accused her of stalling his re-entry into the company. The firm’s board has rejected Sandeep’s claims and termed his public […]

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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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ShopClues appoints former Zopper, Reliance execs to lead marketing, HR

Harneet-Singh_feE-commerce firm ShopClues has appointed Zopper executive Harneet Singh as vice president of marketing and Reliance executive Babu Vittal as head of human resources, a statement issued by the firm said. “Both of them come with solid experience in their respective fields and we look forward to the positive impact of their leadership, dynamism and […]

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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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Exclusive: ShopClues acquires two startups to build seller support

acquireGurgaon-based e-commerce firm ShopClues has acquired two startups to enhance support for merchants on its marketplace platform, according to one person familiar with the development. The acquisitions were made in the second quarter of this year, the person told Techcircle. “One startup has been acquired and integrated, while the other is more of an acqui-hire,” […]

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Flipkart gets a valuation boost from Fidelity

Flipkart_by_shah_junaid_1001After a string of six successive markdowns, Indian e-commerce giant Flipkart has received a welcome break from American mutual fund company Fidelity Investments. The US-based company’s Fidelity Rutland Square Trust II fund has hiked the value of its shares in the company. According to filings with the Securities and Exchange Commission, the mutual fund marked […]

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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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