India Deals: Pigeon Express is in Talks to Buy Entire Stake of Snapdeal in GoJavas & More
Flipkart is in talks to raise $1.5 billion (Rs 10,000 crore) from Chinese Internet giant Tencent and US-based online selling platform eBay.
Here is a list of deals that happened in Indian Startup Ecosystem today including funding, merger, acquisition, product launch & appointment etc. Read a brief description about all of them:
Urban Ladder Ties Up With HomeLane
Online furniture store Urban Ladder, which raised Rs 102 crore in February, has now tied up with with interior design and décor platform HomeLane for an additional channel of distribution. This partnership will help Urban Ladder in acquiring new customers at a much lower cost. The furniture brand has also applied for a single-brand retail licence
“We will work on a commission model and convert new home buyers coming to the HomeLane platform into our customers,“ said Sanjay Gupta, chief marketing officer at Urban Ladder.“The customers who come to the HomeLane platform for modular and fittings solutions for their homes also have a need for loose furniture such as sofa, beds and other units which we would be providing them.“
Courier Company Pigeon Express is in Talks to Buy Snapdeal's Stake in GoJavas
Delhi-based courier company Pigeon Express is in talks to acquire the entire stake of online marketplace Snapdeal in ecommerce-focused logistics company GoJavas. Pigeon Express acquired a 51% stake in GoJavas in August 2016 and Snapdeal holds a 49% stake in the company. Snapdeal has stopped using GoJavas’s services and currently using its own logistics venture Vulcan Express for delivering shipments.
Amazon’s Amit Agarwal Promoted to Senior VP at Parent Firm
US-based Amazon.com, Inc. has appointed India chief Amit Agarwal to senior vice president (SVP) who has brought the online retail firm within touching distance of market leader Flipkart and overtaken Snapdeal in just three years. Agarwal, who will continue to remain India head for now, was earlier vice president at Amazon. Amazon chief executive Jeff Bezos had already promoted Agarwal to his S team (the core team of Amazon founder and chief executive Jeff Bezos) last April.
Flipkart May Raise $1.5B at $10-12B Valuation
Flipkart is in talks to raise $1.5 billion (Rs 10,000 crore) from Chinese Internet giant Tencent and US-based online selling platform eBay. The American online e-commerce major could led the round with an investment up to $500 million and a potential third investor could also participate in the round. This new funding round would value the e-commerce company at $10-$12 billion, which would be a down round for the company that had a valuation of $15 billion after its last funding round in 2014 when the firm raised $700 million.
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