It can be tough to keep up with all the startup news released every week. But you’re in luck — Inc42 takes care of that for you, serving you with the hottest news updates about acquisitions, fundings and a lot more for the coming weekend.
Scroll down and Enjoy!
1. Google and Facebook on warpath over buying Waze
In our earlier edition of Weekly Roundup, we had mentioned about Facebook’s keenness in buying out Waze. But, it seems that Google has gone overboard since last week to takeover Waze. According to reports, Google will outbid Facebook’s $1bn offer.
Waze is a location-based application that uses satellite signals from its member’s smartphones to generate maps and traffic data, which then offers real time traffic info when shared with other members.
<2. JustDial fixes Issue Price at Rs 530 after Hectic IPO bookinga href=”https://inc42.com/magazine/wp-content/uploads/2013/06/BL18JUST_1461196f.jpg”>
JustDial Ltd, which runs the India-specific local business listings site Justdial.com, has fixed Rs 530 as the issue price in its recently completed initial public offering (IPO). The issue received an enthusiastic response and was oversubscribed over 10 times. Although subscriptions were initially led by institutional and retail investors, high networth individuals (HNIs) and corporates also emerged as some of the largest buyers. At the issue price, the company would command a market valuation of Rs 3,703 crore ($655 million).
3. 10 Indian Startups among the Top 100 startups globally selected for Startup Chile Program 2013
Startup Chile has announced the list of Top 100 startups selected for their program to take these startups Global. Startups from more than 28 countries applied in this accelerator program, out of which 10% are the Indian start-ups to have qualified.
Startup Chile is an accelerator program run by Chilean government that seeks to attract early stage, high-potential entrepreneurs to bootstrap their startups.
These startups are BitRockr, FITH Media Pvt Ltd, MicroSolar, MotorPaneer, Project e[x], Table Grabber, Plasticity Recycling, RxAnalytics, Sentropi.
4. ShoppingWish.in gets Angel Funding
Consumer electronics price comparison website, Shoppingwish.in has raised angel round from Sandeep Johri and 4 other angels from Silicon Valley and New York. The amount and identity of other angels remains undisclosed by the company.
Shoppingwish.in compares prices for products like cameras, mobiles, computers, personal care products, books etc. and offers deals to lure customers.
5. Snapdeal acquires Shopo.in, A Handicraft Online Market Place
New Delhi-based Snapdeal.com, India’s largest shopping website, has acquired the assets of Shopo.in, an online marketplace for Indian designer and handcrafted products not unlike Etsy.
In the past two years, Shopo.in is said to have built a wide assortment of handcrafted products across a bunch of categories such as apparel, accessories, home décor and others.
Snapdeal hopes to provide Shopo.in’s products at great prices to Snapdeal’s 20 million members, and wishes warmly welcome Shopo’s sellers to leverage Snapdeal’s nationwide reach.
6. Getit gets approval to receive INR 216 crore foreign investment
In order to carry out its specialty publishing business, Noida based GETIT, the provider of local search and free classifieds in India has got an approval from Foreign Investment Promotion Board (FIPB) to receive INR 216 crore foreign investment.
Getit is a local business search portal in India and its other networks include Freeads, the local classified media, Getit Malls, the online mall directory, Tradeget, the online B2B marketplace and Hot Deals, the daily deals information provider.
7. Myntra raised USD 25mn round from Tiger Global and Accel Partners
Online fashion and lifestyle retailer Myntra has raised additional $25 million between Q3- Q4 of 2012 from its existing investors Tiger global and Accel partners as confirmed by the company. The funds are being utilized primarily for improving technology and enhancing customer experience.
Myntra.com, launched in 2007, has raised around $65 million through venture capital route for expansion purposes till date. Myntra seems to be moving ahead with aggressive plans of expansion as the company is targeting to double the turnover from INR 400 crore in 2012-13 to INR 800 crore in 2013-14.
8. Firstpost acquires Fakingnews
FirstPost.com, a Network18’s online news platform has announced its acquisition of FakingNews, an Indian satire & humor news website with undisclosed amount.
Founded in 2008 by Rahul Roushan as a news-satire blog in India, Faking News is one its kind content portal. It provides fake news reports and tries to be sarcastic about various elements of Indian social life and news media.
Faking News Founder believes, “News satire requires a reference point of real news, and with Firstpost, Faking News could afford to continue its focus on “news satire” and get the right environment to grow in the digital space.”
9. Edukart raises USD 500K in Seed Funding
Delhi based e-learning startup, Edukart has raised USD 500K in seed funding from institutional and angel investors. The group includes Kima Ventures, Amit Patni and Arihant Patni, AKM Systems (Shiven Malhotra), Vibhor Mehra (ex-partner of SAIF Partners) and alumni from Stanford University.
The fresh cash will be deployed to accelerate EduKart’s growth, launch new courses in partnership with both Indian and international institutions, and strengthen its franchisee network.
10. Wipro invests $5 Million in M2M Platform Provider Axeda
Wipro Ltd and Axeda Corporation have jointly announced that Wipro has made an $5-million investment in Axeda.
Axeda is a provider of cloud-based service and software for managing connected products and delivering machine-to-machine (M2M) applications. Wipro is an Axeda Platinum Partner and with this this investment, the two companies will accelerate services and end-to-end solutions designed to help organizations connect with any asset, leverage real-time machine data to enhance business processes, and develop new enterprise applications.
Hope you enjoyed this edition of ‘Week in Review– Top 10 updates from the Startup-verse’. See you until the next weekend!
