Walmart paid $1.4 billion to buy out hedge fund Tiger Global’s remaining holding of Flipkart shares as the retail giant further expands its stake in the Indian e-commerce startup. Besides Tiger Global, Flipkart co-founder Binny Bansal along with Palo Alto, CA-based private equity firm Accel, one of the earliest investors...
CoinSwitch Kuber India’s Crypto Exchange Valued at $1.9Bn
Bangalore-based Coinswitch Kuber, an app-based cryptocurrency exchange platform exclusive to the Indian market for retail investors, raised $260 million at a valuation of $1.9 billion, underscoring the rise in popularity of crypto trading in the country. The funding round included new venture capital firms Coinbase Ventures and Andreessen Horowitz, and...
India Now Has the Third Largest Startup Ecosystem in the World
The Hurun Research Institute's report Hurun India Future Unicorn List 2021, ranks India’s startups founded in the 2000s, worth at least $200 million, not yet listed on a public exchange, and most likely to ‘go unicorn’ within 2 years (Gazelles) or 4 years (Cheetahs). Per the report, India is the...
Walmart International’s India Business on Growth Trajectory
Bentonville, Arkansas-based Walmart's two acquisitions in India -- e-commerce firm Flipkart and digital payments firm PhonePe -- have emerged stronger with the adoption of digital technologies during the coronavirus health crisis in India. The company also operates a small chain of "wholesale stores" in India, which sell to the retail...
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...
Facing its Rivals' Merger, Amazon India Recommits
In an interview with MoneyControl over Amazon's India strategy to counter a possible merger between India's largest e-commerce company Flipkart, and its rival Snapdeal, Amazon's India chief Amit Agarwal said, "... no matter what happens, even after 20 years, customers will want great selection, great product and fast delivery. So...