Author: Girish Shetti

Snapdeal_Logo

E commerce major Flipkart has made a renewed and probably a last ditch effort to acquire Snapdeal by increasing its bidding offer, according to two sources close to the development. The exact offer made by Flipkart is still not known, but several media reports are quoting the latest offer to be between $850 to $900 million dollars. The reports also claim that the latest offer is only meant for Snapdeal and its marketplace management unit Unicommerce and not for the subsidiaries like Freerecharge and Vulcan. The most recent offer comes after Snapdeal earlier rejected two bidding offers by Flipkart, with…

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Paytm

Hence forth it won’t be easy for sellers to register on Paytm mall – an e-commerce division of Paytm. This is because it has imposed several new mandatory rules on existing sellers as well prospective sellers wanting to register on their e commerce platform. These new rules that will help to keep a check against fraudulent sellers and cheap products have already led to delisting of 85,000 sellers from their platform. According to the new rules, now sellers will have to compulsorily furnish brand authorization letters to validate the quality of their product. Additionally, they will have to produce registration…

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Paytm

One 97 Communications, which owns digital payment statrtup Paytm, has acquired majority stake in insider.in – an online ticketing platform that gives people access to curated lifestyle events. This is according to the statement released by the company. As per the media reports, the entire deal is valued a little over 35 crore. Insider.in was founded by Shreyas Srinivasan and was until now owned by Only Much Louder (OML) Entertainment Pvt Ltd. After this deal, Srinivasan and OML’s co-founders Vijay and Ajay Nair will continue to remain minority stake holders and also will continue to be part of the company’s…

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Mitsui injects_nearly_Rs_20_crore_in_Hyderabad_based_Tech_Startup.

Mitsui & Co, a part of Japanese conglomerate Mitsui Group, has injected nearly Rs 20 crore or $3 million in Hyderabad-based automotive tech startup Smart Auto Systems. This is according to the latest documents filed by the company with the Registrar of Companies (ROC). Founded in 2015 by Vijay Gummadi and Venu Donepudi, this is the first time that this Hyderabad-based tech startup has received funding from an external source. According to the documents filed with ROC, the funding process was completed a couple of months ago and three members from Mitsui have already joined Smart Auto Systems’ board of directors…

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