Flipkart acquires Walmart’s Cash & Carry Wholesale Business

Flipkart has acquired 100% stake in Walmart India Pvt Ltd, which operates cash and carry stores in wholesale format across India. Notably, Walmart India Pvt Ltd is owned by Flipkart’s parent company and this specific transaction comes under the category of’ reverse acquisition’ or reverse ‘buyout.’ Apparently, Tata Group was reportedly in talks to pick a…

ByGirish ShettiJuly 23, 20200Comments

News

Startup – Morning News Updates & Scoops

The world experienced Twitter’s biggest meltdown moment on Wednesday after Twitter accounts of several prominent users like Barack Obama, Elton Musk, Bill Gates, Joe Biden, Warren Buffet and many others were hacked in an apparent Bitcoin scam. Twitter has already gone into damage control mode and is trying to fix the issue. …

ByGirish ShettiJuly 16, 20200Comments

Acquisitions

Unacademy acquires K12 Learning platform Mastree for $5Mn

Unacademy on Tuesday announced that it has led a strategic investment of $5Mn to acquire a majority stake in Mastree. Mastree is a leading K12 learning platform and the latest acquisition will help the Edtech major in increasing its presence in K12 learning space. Following this investment, Unacademy has provided Blume Ventures an exit, according to…

ByGirish ShettiJuly 14, 20200Comments

Funding News

Walmart infuses fresh Capital of $1.2 Bn to increase stake in Flipkart

Walmart has infused fresh $1.2 Bn in its subsidiary firm and India’s homegrown e-commerce giant Flipkart. The fresh capital infusion round has valued Amazon’s India rival at approximately $24.9 Bn. According to reports, clutch of existing investors have also pumped funds in this round but their details have not been disclosed. This is Walmart’s first big…

ByGirish ShettiJuly 14, 20200Comments

News

Wakefit to Invest Rs 15 crore for disrupting home solution space

Sequoia backed sleep and home solution startup Wakefit has decided to go full throttle for an aggressive expansion, after the company announced on Tuesday that it will invest another INR 15 Crore for expanding its business. This investment will be used for setting up of new facilities, expanding product lines and strengthening technological capabilities. The company…

ByGirish ShettiJuly 14, 20200Comments

News

LetsVenture’s Investment Spree Continues despite Covid-19 Crises

It has been so far a pretty good year for early stage & angel investment platform LetsVenture. This may sound bit surreal to hear considering how Covid-19 crises has thrown the entire global economy into a tailspin. But apparently LetsVenture has not only managed to hold on to itself amid the tornado, it has emerged…

ByGirish ShettiJuly 14, 20200Comments

News

Google bets big on Digital India, plans $10 Bn Investment

For the first time in six years, the annual 'Google for India' event was held as a virtual event. This was, of course, due to Covid 19 pandemic. Expectedly, several big news came out of the grand event but the one news that is likely to dominate the headlines is the fact that Google is…

ByGirish ShettiJuly 13, 20200Comments

News

Licious appoints Naveen Kumar Nerlaje as new HR Head

Online Meat startup Licious has appointed Naveen Kumar Nerlaje as the new HR head or Head of Human Resources. Having worked in diverse industries like Automobile, FMCG and Retail industries, Naveen brings along with him a rich experience in the field of human resource, according to the statement issued by the company. Naveen Kumar Nerlaje is…

ByGirish ShettiJuly 13, 20200Comments

Startup Resources

Semi-Annual Factsheet of Indian startups in 2020 – (January to June)

Stung badly by coronavirus pandemic, the last six months of the year 2020 has turned out to be one of the most challenging periods not only for the Indian startups but also for the entire global economy. But to decode just how Indian startups fared during these six months including in the last three months…

ByGirish ShettiJuly 11, 20200Comments

News

Zomato’s Revenue grows by 105% to reach $394 Mn in FY20

Gurugram based foodtech major Zomato on Friday disclosed that its revenue earnings for the financial year ended March 2020. The Ant Financial backed company said that its revenue grew by 105% to reach $394 Mn and assured its investors that the company is well on its way to improve its monthly revenue by 60% in…

ByGirish ShettiJuly 10, 20200Comments

Best Choice for Creatives