Money

Alibaba rakes in $12 bn at half-way mark on Singles’ Day

AlibabaAlibaba Group Holding Ltd looked set to surpass its Singles’ Day sales record after notching almost $12 billion in sales around the half-way mark of its shopathon, according to a report in Bloomberg. Singles’ Day is celebrated in China on November 11 every year and Alibaba has transformed this day into one of the biggest […] [...]

Exclusive: Bitcoin startup Zebpay in talks to raise funds

FundZebpay, a bitcoin exchange platform and mobile wallet, is in talks to raise $4 million to upgrade its servers and enhance its security in order to handle large trade volumes. US-based Pantera Capital, a bitcoin investment firm, has shown interest in taking part in the funding round that will be led by an Indian venture […] [...]

Karnataka HC upholds ban on surge pricing by Ola, Uber

OLA_UBER2In a blow to ride-hailing apps Uber and Ola, the Karnataka High Court on Thursday upheld the state’s ruling on a cap on cab fares. The Karnataka government had notified in April that cab-hailing firms should get a permit before operating in the state, to comply with Karnataka On-demand Transportation Technology Aggregators Rule, 2016. US-based […] [...]

The rise and fall of Jabong

Jabong_feFashion portal Jabong ranks among the e-tailers that redefined the concept of online shopping in India. But it is also in the list of companies that only flattered to deceive. Jabong is being bought in an all-cash deal by Flipkart-owned Myntra for $70 million. That’s a steep drop from the $1.2 billion valuation for Jabong […] [...]

EVC Ventures invests in student deals platform BigDeal

Funding_mukulDelhi-based student deals platform BigDeal has raised a seed round of funding from EVC Ventures, a person privy to the development told Techcircle.in. The startup raised around $100,000 in the round, led by Anjli Jain, managing partner, EVC Ventures, the person said. The startup, which is run by Dealmonk E-services Pvt. Ltd, will use the […] [...]

EVC Ventures invests in student deals platform BigDeal

Funding_mukulDelhi-based student deals platform BigDeal has raised a seed round of funding from EVC Ventures, a person privy to the development told Techcircle.in. The startup raised around $100,000 in the round, led by Anjli Jain, managing partner, EVC Ventures, the person said. The startup, which is run by Dealmonk E-services Pvt. Ltd, will use the […] [...]

Myntra to buy Jabong to boost fashion e-commerce play

myntra_feFlipkart-owned Myntra said on Tuesday it has agreed to acquire main competitor Jabong from Global Fashion Group to create India’s biggest fashion e-tailer. The deal consolidates Flipkart’s position in the Indian e-commerce market and enables Jabong parent Rocket Internet to exit the loss-making venture. The acquisition will also provide Flipkart some much-needed arsenal in its […] [...]

Digital media firm e27 raises $2.2 mn from TechTemple Group, others

mohan_feSingapore-based technology news platform e27, run by Optimatic Pte. Ltd, has raised $2.2 million in its Series A round led by China’s TechTemple Group. China’s Linear Ventures, Indonesia-based Convergence Ventures and Singapore’s Venturecraft also participated in this round, e27 said in a statement. Entrepreneurs such as Douglas Khoo, co-founder of Qunar, in which Baidu invested […] [...]