- SoftBank Boils Out Over Snapdeal Shareholders Woes; Threatens To Walk Out Of The Merger Deal Snapdeal’s largest investor SoftBank has reportedly threatened to walk out if all the minority shareholders do not vote in favour of the merger deal with Flipkart. As per reports, if the deal falls through, the Japanese telecom and Internet corporation may invest independently in Flipkart, leaving Snapdeal behind. Commenting on the latest development, a source […]
- Temasek, Ratan Tata Give Green Signal To Snapdeal Flipkart Merger The Snapdeal Flipkart merger has reportedly received an in-principal approval from a consortium of Snapdeal investors. The investors who have given the nod for the merger include Ratan Tata, Temasek, BlackRock, and Foxconn. Ratan Tata had led an undisclosed venture financing round in Snapdeal in August 2014. Temasek, on the other hand, had participated in […]
- How India Is One Step Closer To Domestic Lithium-Ion Battery Manufacturing The global industry is ramping up their battery manufacturing operations as the push for vehicle electrification continues. India is slated to join the select number of countries with lithium-ion battery manufacturing capacity. This is, no doubt, positive for both the Indian economy and the ambitious electric vehicle (EV) targets set by the government. India’s lack […]
- 9 Indian Startup News That You Don’t Want To Miss This Week [News Roundup] We bring to you the weekly dose of important Indian startup news of the week. The biggest news for Indian startup ecosystem this week was entry of WeWork. New York-based coworking startup WeWork has launched its India hub in Bengaluru. The coworking space is called WeWork Galaxy. The hub can hold up to 2,200 members. […]
- Foxconn Looks To Invest $5 Bn in India To Establish Manufacturing Hub Foxconn Technology Group is looking to invest up to $5 Bn in India, to explore the possibility of establishing a manufacturing hub parallel to China. The Indian hub will be instrumental for export to markets across Europe and the US. A top official at the Taiwanese company told TOI that Foxconn will soon ramp up […]
- Chinese Mobile Manufacturer OnePlus Launches Exclusive Ecommerce Portal In India Chinese tech startup OnePlus has announced the launch of its exclusive ecommerce website in India. The move on OnePlus’ part appears to create a personalised shopping experience for its Indian user-base. Founded in 2013 by former Oppo Vice President Pete Lau and Carl Pei, OnePlus is a global mobile technology startup. It claims to have […]
- Apple Looks To India For Growth; Announces New iOS App Design And Development Accelerator in Bangalore After flying out from China where Apple announced a $1 Bn investment in the local ride-hailing app Didi Chuxing, Apple CEO Tim Cook has landed in India to announce a new iOS app design and development accelerator in Bangalore. The initiative will support engineering talent and accelerate growth in India’s iOS developer community. The iOS […]
- How Ravi Gururaj’s New Venture QikPod Aims To Revolutionise Ecommerce By Reducing Last Mile Delivery Hassles It’s your birthday in a week. You order the dress, you so coveted, from your favourite online store-it could be Myntra, Flipkart, or Jabong and excitedly wait, counting the days and hours in your office for it to be delivered. Your ecommerce provider has kept you well notified that it will be delivered well before […]
- Updated: Foxconn To Invest $70 Mn In Refurbished Goods Retailer GreenDust: Report Update: Hitendra in an emailed response said, “As shared in the article, ET is jumping the gun. I have told them clearly that yes, we are in discussions but nothing is final yet. ET has speculated a lot including our conversation with hedge funds” Earlier: After making investment in Gurgaon-based Snapdeal, Taiwanese contract manufacturer Foxconn […]
- Snapdeal Confirms $500 Mn Funding From Alibaba, Foxconn & SoftBank; eBay Sells Portion Of Its Shares Delhi-based ecommerce marketplace, Snapdeal has raised over $500 Mn in a new funding round led by Alibaba, Taiwanese electronics manufacturer Foxconn, and Japanese telco major SoftBank. Its existing investors Temasek, BlackRock, Myriad, and Premji Invest also participated in this round. We have earlier reported about this round. Snapdeal was launched in 2010 by Kunal Bansal and […]
- Snapdeal Raises $500 Mn From Alibaba, Foxconn & Softbank Looks like it’s raining money again in the Indian ecommerce space! Or at least for the older players. Alibaba, after a few investments in Indian companies, has now invested $500 Mn in the ecommerce biggie, Snapdeal. According to a new story published by re/code, Foxconn, the Taiwanese company alongside Snapdeal’s existing investor, SoftBank, also participated in […]
- Alibaba & Foxconn In Talks To Jointly Invest $500 Mn In Snapdeal, Will Value Snapdeal At $5 Bn According to a recent report published by WSJ, Chinese ecommerce giant Alibaba Group and Foxconn Technology Group are in talks to invest over $500 Mn in Snapdeal.com, if the deal goes through, Snapdeal will be valued at about $5 Bn. A person close to the development said that Alibaba and Foxconn have decided to take over 10% […]