Jabong parent raises $339M; valuation plunges

JabongGlobal Fashion Group, the parent of loss-making Indian fashion portal Jabong, has raised fresh funding from its existing investors but at a sharply lower valuation. The company secured €300 million ($339 million or Rs 2,250 crore) from Germany’s Rocket Internet SE and Swedish investment firm Kinnevik. The transaction values the company €1 billion, Rocket Internet […]

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Exclusive: US investors Lip-Bu Tan, Michael Marks back analytics firm IQLECT

Lip-Bu-Tan_Michael-Marks_Sachin-SinhaAnalytics startup IQLECT, founded by former Jabong India CTO Sachin Sinha, has received an undisclosed amount in funding from well-known US investors including the founders of VC firms Walden International and Riverwood Capital. Lip-Bu Tan, founder of Silicon Valley-based Walden International and CEO of Cadence Design Systems; Michael Marks, former CEO of Flextronics and founding […]

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Jabong appoints former eBay executive Muralikrishnan B as COO

Muralikrishnan BRocket Internet-incubated fashion e-commerce venture Jabong has appointed former eBay executive Muralikrishnan B is as its chief operating officer. He will report to CEO Sanjeev Mohanty and will be responsible for overseeing the technology, product and digital marketing functions, the company said in a statement. In his most recent role, Muralikrishnan was the COO of […]

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Jabong hires ex-Bharti Airtel exec Deepa Chaddha as HR chief

Deepa-ChaddhaJabong has appointed Deepa Chaddha as chief human resource officer, the fashion e-tailer said in a press statement. Before joining Jabong, Deepa was Bharti Airtel’s HR head for its global centre of excellence. An alumnus of TISS Mumbai, she has also worked with Genpact and Oracle before joining Bharti Airtel. “A strong human resource leader […]

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Jabong claims to match Myntra in GMV last month

VCCircle_Jabong3Rocket Internet-incubated fashion e-commerce venture Jabong said it is growing its net revenue and gross merchandise value (GMV) at a quick pace while keeping cash burn low and that it will start making profits before any of its close rivals. Jade eServices Pvt Ltd, which runs Jabong in India, said it registered the highest-ever month-on-month […]

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Jabong’s transaction growth just halted as it cut losses last quarter

Jabong002Rocket Internet-incubated fashion e-commerce venture Jabong has hit a roadblock with the number of orders on its site remaining flat in the third quarter ended September 30, 2015 over the year-ago period. Although it managed to grow the value of goods sold during the same period—reflecting a rise in basket size of products purchased by […]

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Delhi High Court orders probe into 21 e-commerce firms

The Delhi High Court has ordered the government to investigate 21 e-commerce companies for possible violations of India’s foreign direct investment (FDI) norms. The order came on a petition filed by an industry body earlier this year demanding a government probe into all major e-commerce websites including Flipkart, Snapdeal, Jabong, Myntra and Amazon-owned Junglee.com. Amazon […]

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Jabong names Sanjeev Mohanty CEO

Fashion marketplace Jabong has appointed Sanjeev Mohanty as its CEO and MD, according to a report in The Times of India. Romain Voog, CEO of Jabong’s parent company Global Fashion Group, said in the report that Mohanty’s knowledge of the Indian fashion and retail industries will help strengthen the fashion e-tailer’s position. Mohanty was previously […]

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Jabong’s growth rate halved in Q2

The pace of growth for Indian fashion and lifestyle e-commerce venture Jabong almost halved last quarter and it remained the top money losing proposition for German emerging markets and Europe focused internet company Rocket Internet. Jabong, one of the two large fashion e-tailers in the country besides Flipkart-controlled Myntra, saw its net revenue growth slipping to 18.5 […]

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