Chinese App Snack Video crosses 100 Mn download on Google Play Store

Chinese short video sharing app Snack Video has now crossed 100 Mn download mark on Google play store, virtually becoming the no 1 short video sharing app of India. This despite all the hype around the made in India apps that are today trying very hard to capture the Indian market by riding high on…

ByGirish ShettiSeptember 1, 20200Comments

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CBDT ask Banks to Refund MDR Charges Imposed on UPI & RuPay Transactions in 2020

CBDT or Income Tax Department on Sunday issued a circular notifying that some banks have been found charging MGR tax from merchants for payments made via UPI. CBDT stated in the circular that it has received complaints that banks are imposing MGR tax on merchants after allowing certain number of free transactions. It has castigated the…

ByGirish ShettiAugust 30, 20200Comments

photo of India's richest man Mukesh Ambani

Acquisitions News

Mukesh Ambani is new king of India’s Retail biz, Acquires Future Group

After taking India’s telecom sector by storm, Mukesh Ambani is now ready to extend his domination in India’s retail sector. This after Reliance Retail Ventures Limited (RRVL) announced on Saturday – a subsidiary company of Reliance Industries – that it has acquired almost all businesses of Future Group for consideration of Rs 24,713 crore. These…

ByGirish ShettiAugust 30, 20200Comments

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Exclusive: Unacademy Expands ESOP pool, allots 11,973 fresh shares to Employees

Edutech startup Unacademy has recognized and rewarded its employees by topping up 11,973 options to its existing employee stock options (ESOPs). According to the new regulatory filings, the company passed a special resolution to amend its existing ESOP policy to increase its existing pool from 53,044 to 65,017 options. Logo of edutech major Unacademy This is the…

ByGirish ShettiAugust 29, 20200Comments

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Flipkart moves Supreme Court against CCI Investigation on Market Abuse

India’s home grown e-commerce major Flipkart has moved to the Supreme Court (SC) against NCLT order directing Competition Commission of India (CCI) to investigate Flipkart’s alleged market abuse, according to the reports. Reports claim that the Walmart owned company had filed the case in SC in March itself but the case got officially registered only…

ByGirish ShettiAugust 27, 20200Comments

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Here is Complete List of Winners of the ET Startup Awards 2020

Currently in its 6th edition, The Economic Times Startup Awards has gained the reputation of being sort of Oscars of Indian startup industry. Every year, almost all startups that deem themselves to be worthy contenders have ostensibly craved for this much sought after award. Winning a top prize and even consolation prize at the annual…

ByGirish ShettiAugust 24, 20200Comments

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Sistema Asia exits Netmeds post RIL deal

Sistema Asia on Wednesday announced that it has sold its entire stake in the Chennai based e-pharmacy startup Netmeds. The announcement comes almost 24 hours after Reliance Retail-Netmeds deal got announced, with Reliance buying majority stake in Netmeds for cash consideration of Rs 620 crore. Sistema Asia exits Netmeds to mark its second big exit in…

ByGirish ShettiAugust 19, 20200Comments

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India’s E-Pharmacy Biz Shakes up as Reliance acquires NetMeds

India’s fledging and nascent online pharmacy sector has suddenly come into life of its own with Reliance Retail, owned by India’s richest man, acquiring Chennai based e-pharmacy startup NetMeds for cash consideration of Rs 620 crore. Reliance Industries MD Mukesh Ambani As per the terms & conditions agreed by both parties, Reliance Retail Ventures will acquire a…

ByGirish ShettiAugust 19, 20200Comments

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Flipkart Denies Investment Plans in PharmEasy

India’s home grown e-commerce major Flipkart has said that it is not seeking any investment plans in the Mumbai based online pharmacy startup PharmEasy. The clarification has come after a report in Times of India (TOI) on Tuesday claimed that the Walmart owned company is holding strategic discussions with PharmEasy for exploring partnership and funding…

ByGirish ShettiAugust 18, 20200Comments

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LendingKart Raises INR 120 Cr Debt from Public Banks & Private Lenders

NBFC startup LendingKart, which offers unsecured loans to MSME, has raised huge amount of debt funding from public banks as well as private lenders. This has been disclosed by the company’s regulatory filings, which was accessed by Techpluto. Lendingkart nabs INR 120 Cr debt funding from public & private leaders The Ahmedabad headquartered company has been on…

ByGirish ShettiAugust 18, 20200Comments

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