Bentonville, AR-based Walmart has acquired a 77% stake in Bangalore-based e-commerce company Flipkart for $16 billion. Walmart and Flipkart will remain separate brands with the goal of transitioning Flipkart to a publicly-listed, majority-owned subsidiary in the future. "India is one of the most attractive retail markets in the world, given...
India Sees Record Private Investment in Q3 2017
A report by Ernst & Young says that private equity/venture capital investments in India touched a record high of $8.7 billion in the July-September quarter, a sharp increase over last year's $3.1 billion for the same period. E-commerce recorded $2.6 billion across 18 deals primarily driven by Softbank's $2.5 billion...
U.S. Invests the Most in India's Startups
According to New York-based CB Insights, U.S.-based investors are the most active foreign participants in India’s start-up ecosystem over the past five years, making over 800 equity deals during the period. In the list of top five foreign investors in India’s technology ecosystem, U.K., with 1% of deals stood at...
Ola Claims 75% Market Share of India's Urban Taxi Services
India's Bangalore-based transport aggregator Ola said that because of its India-specific innovations such as offline booking and local language apps, the company "effectively holds over three-fourth market share", reports the Economic Times. COO Pranay Jivrajka told the Press Trust of India that the focus of a business needs to be...
Budget Hotel Entrepreneur Raises $125 million
21-year old Ritesh Agarwal has created India's largest network of budget hotels in less than two years. "I am not being arrogant when I say I re-imagined how new-age hospitality will look like. In just one and a half years we are bigger than the country's largest hotel group by...
Foreign Firms Surge to Provide India’s 280,000MW Solar Energy Goal
India's $100 billion push into solar energy over the next decade is being driven by foreign players as local manufacturers are no longer protected by government restrictions on the sector. SunEdison of California will invest up to $4 billion in a manufacturing facility, and China's Trina Solar has unveiled plans...