Alibaba raked in a record 540.3 billion Chinese yuan ($84.54 billion) in orders over Singles’ Day. That’s a jump of 8.45% from last year’s shopping extravaganza, but the lowest growth rate in the event’s history. The moderation comes amid a slowdown in Chinese consumption as the government cracks down on everything. Alibaba raked in a … Read more
Zomato along with it’s Q2 FY 22 results also announced that it has committed $275 mn across four start-ups in the last 6 months and will deploy another $1 billion over the next one to two years. Four investments of $275 mn – $100 mn for 9.3% stake in Grofers $50 mn in Curefit along … Read more
Currently Inox group is run by the 3rd generation of promoters – Brothers Pavan Jain (70) and Vivek Jain (66). Brothers have reached an amicable family settlement. Pavan Jain gets the control of – Inox Leisure – listed, movie theater business Inox Air Products – unlisted, industrial and medical gases manufacturer Inox India – unlisted, … Read more
Shoppers can expect more discounts in stores in the coming months because of the supply chain crisis. BMO analysts said delays mean items could arrive too late for the holidays and then be marked down. Retailers are also over-ordering items to avoid shortages, which could lead to leftover stock. The supply chain crisis might stop … Read more
Netflix has been staffing up for its next wave of growth that could come from international TV and new areas like video games. With employees on the move across industries amid the Great Resignation, Insider updated its analysis of how much Netflix employees make in the US. We combed through public data to get a … Read more
Purplle.com, one of India’s largest online beauty destinations, has raised $75 million funding round from investment firm Kedaara along with Sequoia Capital India and Blume Ventures. This comes six months after a $45 million funding backed by Verlinvest, Blume Ventures, JSW Ventures, and first-time investor Sequoia Capital India. The investment will augment the company’s goal … Read more
Beauty startup Nykaa has raised Rs 2,395.84 crore in its anchor book allocation from 174 investors ahead of its initial public offering (IPO). The firm allocated 21,296,397 shares at the upper price band of Rs 1,125 per equity share, it said in an exchange filing. Some of the marquee investors include Black Rock, Fidelity, … Read more