China’s market regulator on Saturday said it was fining companies including Alibaba, Baidu and JD.com for failing to declare 43 deals that date as far back as 2012 to authorities, saying that they violated anti-monopoly legislation. Enterprises involved in the cases would be fined 500,000 yuan ($78,000) each, it said, the maximum under China’s 2008 … 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
Mirakl just raised a $555 million Series E led by Silver Lake. The startup builds tech tools that help retailers build third-party marketplaces. The funding round, valuing Mirakl at $3.5 billion, came a year after its $300 million Series D. The e-commerce explosion during the COVID-19 pandemic has resulted in retailers big and small rethinking … Read more
Good Glamm Group, which operates brands like POPxo and BabyChakra, on Wednesday said it has acquired The Moms Co for an undisclosed amount. With this acquisition, The Moms Co aims to grow to a Rs 500 crore revenue run rate in the next two years. The brand is also expanding to the US and Middle … Read more
Swiggy is finalising a new financing round of about $500-600 million that is likely to be led by US asset manager Invesco, according to three people aware of the matter. The exercise is likely to catapult the valuation of the online food delivery company to as much as $10 billion, which is double the valuation … Read more
Robinhood Markets Inc is testing new crypto wallet and cryptocurrency transfer features for its app which would allow customers to send and receive digital currencies such as bitcoin, Bloomberg News reported on Monday. A beta version of its iPhone app showed the company’s work on such features, the report said. There was also a hidden … Read more
Apna.co, a professional networking platform for blue- and grey-collar workers, has entered the coveted club, or those companies with a valuation of $1 billion or more, in just 21 months, the fastest Indian startup to do so. The company said it had raised $100 million in a new financing round, led by existing investor Tiger … Read more
The intimation for the same was made by Gaurav through an email to Company employees. Zomato founder and CEO Deepinder Goyal confirmed it on twitter. Reason mentioned – “taking a new turn in life and start a new chapter” Key points to note – Gaurav had joined Zomato only 6 years ago in 2015 and … Read more