Alibaba makes additional $2 billion investment in Southeast Asian online Startup Lazada

Alibaba makes additional $2 billion investment in Lazada. Chinese tech giant Alibaba on Monday announced that it will pour additional $2 billion in the popular Southeast Asian e-commerce platform Lazada in a bid to make further push to its investment drive in the region. In the previous financial year, Alibaba increased its holding in the Singapore…

ByGirish ShettiMarch 19, 20180Comments

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SoftBank Leads Fresh Funding for Embattled Grocery Startup Grofers

SoftBank leads fresh funding for Grofers. Embattled online grocery startup Grofers has raised Rs 400 crore (approximately $62 million) in a fresh round of funding that was led by Japanese investment giant SoftBank. Apart from SoftBank (an existing investor), another existing investor Tiger Global and a new investor Yuri Milner (Russian billionaire) also participated in the…

ByGirish ShettiMarch 16, 20180Comments

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Chinese Bike Sharing Startup Ofo Raises $866 Million from Alibaba

Ofo Raises $866 Million from Alibaba Beijing based bike-sharing startup Ofo has raised whopping $866 million in a new funding round led by Chinese giant Alibaba Group. The funding round consisted of debt as well as equity financing. The other participants in the round included Ant financial (Alibaba’s subsidiary company) Haofeng Group, Tianhe Capital and Junli…

ByGirish ShettiMarch 14, 20180Comments

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Salesforce Acquires Enterprise E-commerce Startup CloudCraze for Undisclosed Amount

Salesforce acquires CloudCraze for undisclosed amount. Cloud computing giant Salesforce is all set to make its second acquisition in the current year by acquiring CloudCraze, a Chicago based enterprise e-commerce startup. CloudCraze has confirmed the acquisition news on its official website. The startup said that it has signed a definitive agreement to kick-start the acquisition proceeding…

ByGirish ShettiMarch 13, 20180Comments

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Uber Inching close towards selling Southeast Asian Business to Grab: Report

Uber Inching close towards selling Southeast Asian Business to Grab. Singapore based Grab, the market leader in Southeast Asia’s ride hailing market, is close on the heels of acquiring Uber Technologies business in the region, according to sources close to the matter. Sources claim that the high profile deal is most likely to be sealed in…

ByGirish ShettiMarch 9, 20180Comments

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Paytm Mall May soon get 3,000 crore Bonanza from SoftBank: Report

Paytm Mall in advanced talks with SoftBank to raise fresh funds. Paytm Mall, e-commerce division of digital wallet firm Paytm, is reportedly in advanced talks with Japanese investment giant SoftBank to raise nearly Rs 3,000 crore. Close sources are further claiming that Paytm Mall is also holding talks with other investors including Singapore’s Temasek Holdings for…

ByGirish ShettiMarch 6, 20180Comments

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Financial giant HDFC Pumps $10 Million in Genomics Research MedGenome

Genomics research and diagnostics company MedGenome Financial service giant HDFC Group has decided to back genomics research and diagnostics company MedGenome. HDFC Ltd along with its sister companies HDFC Life and HDFC Asset Management has poured $10 million in the Bengaluru based healthcare startup. With this latest capital infusion, MedGenome has officially closed series C fund…

ByGirish ShettiMarch 5, 20180Comments

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Alibaba Launches First Joint AI Research Center Outside China

Alibaba launches first joint AI research center outside China. In a first, Chinese e-commerce behemoth Alibaba on Wednesday opened its first ever joint Artificial Intelligence (AI) research center outside Mainland China. The venue is Singapore, and Alibaba will be operating this artificial intelligence research institute in partnership with the local university Nanyang Technological University (NTU). Speaking on…

ByGirish ShettiFebruary 28, 20180Comments

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Amazon Acquires Home Security Startup Ring at Estimated $1 Billion

Amazon acquires home security startup Ring at estimated $1 billion. E-commerce giant Amazon is all set to acquire home security firm Ring after both companies agreed to the terms and conditions of the deal. Although the exact valuation of the deal is not known, but media reports claim that Amazon will be paying nearly $1 billion…

ByGirish ShettiFebruary 28, 20180Comments

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Tencent leads $115-Million Funding Round in Music Streaming Firm Ganna

Tencent leads $115-million funding round in music streaming firm Ganna Chinese internet giant Tencent has led an investment round of $115-million or Rs 740-crore in the Mumbai based music streaming company Ganna (which means ‘song’ in English). Ganna is owned by Times Internet, which is a part of the Indian media conglomerate Times Group. The group…

ByGirish ShettiFebruary 28, 20180Comments

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