Showing posts with label Funding news. Show all posts

Snapdeal Founders Invest in Online Apparel Startup Bewakoof

Snapdeal Founders Invest in Bewakoof

Mumbai-based online apparel startup, Bewakoof has raised an undisclosed amount from Snapdeal founders Kunal Bahl and Rohit Bansal. Alongside Snapdeal founders, Former IDFC Securities Managing Director and co-Head of Research, Nikhil Vora has likewise put resources into individual capacity.

The organization was selling its product all alone's store and on marketplaces, however now it has chosen to change to a terminus model.

The startup has possessed the capacity to generate an annual sales run-rate of INR 20 crore and targets to achieve the USD 100 million in the next 5-7 years. Its revenue has grown 3 times in the past 6 months and in excess of 50 percent of its sales originates from mobile.

Prabhkiran Singh, fellow benefactor of Bewakoof.com said, "We switched on the grounds that this is the place the future is. India will skirt the composed retail revolution and the online retail will rise to be a bigger business. We accept that 30-40 major online fashion brands with USD 100m+ revenue will be made online. The strongest of brands will get to be ends for the customers and the others will rely on upon marketplaces for their distribution."

At one time, the organization had plans of raising INR 25 crore to expand its portfolio and expand its vicinity crosswise over block and-mortar retail stores crosswise over India. Begun in 2012 by Prabhkiran Singh and Siddharth Munot, the brand sells just on its website and shopping application, likewise has relationship with Bollywood for its merchandise.

In December, Snapdeal founders Kunal Bahl and Rohit Bansal had taken an interest in a USD 200,000 speculation round in a Delhi-based startup, Gigstart, an online gathering arranging commercial center.


Image Source: Bewakoof.com

Reliance Capital to Sell 16 Percent Stake in Yatra.com

Reliance Capital sells Yatra StakeReliance Capital is situated to sell its 16 per cent stake in online travel portal, Yatra for an expected amount of INR 500 crore in order to encash its minority investment. The organization had procured this stake for INR 40 crore in 2006.

As per an ET report, the arrangement is relied upon to be shut in 4-6 weeks and puts the aggregate valuation of the Yatra.com at around INR 3,000 crore. Different investors in travel portal incorporate Norwest Venture Partners (30 per cent), TV-18 gathering (10 per cent), Intel Cap (7 per cent), Valliant Capital (10 per cent) and 6 percent owned by its management group.

Yatra.com is specifically contending with Makemytrip which is having a business estimation of USD 1.2 billion with an operating pay of USD 116 million for the year. While, Yatra.com remained at USD 50 million operating pay every year.

A month ago, SAIF Partners had sold off its 2.41 percent stake in Mumbai-based nearby search provider, Justdial for an aggregate sum of INR 254 crore.

It is intriguing how investors are getting along away with their holding in non-retail e-trade organizations, which are apparently gainful as against online retail. Appears as though they feel they have effectively earned as much as they could.

Aditya Birla Group Plans to Enter into the Indian E-commerce Space

Billionaire Birla plans to enter Ecommerce
After Ratan Tata's late ventures in e-commerce, Kumar Mangalam Birla, chairman of the USD 40 billion Aditya Birla group, is looking to enter into Indian e-commerce market with plans to either procure e-retailers or to launch another remain solitary e-commerce venture.

As Bloomberg reported, He declined to uncover more insights about his e-commerce plans be that as it may, the group is taking a gander at numerous business verticals rather than concentrates on a particular one.

"There's a considerable measure of ground for new ventures in e-commerce," he said. "I am not saying that we can take an Amazon head-on. However there are a ton of green spaces." Birla joins the association of disconnected from the net business tycoons like Ratan Tata and Mukesh Ambani, who are discovering the online pastures green.

Birla is additionally searching for speculators in his current blocks and-mortar retail businesses, which incorporate the "More" chain of supermarkets and Pantaloons attire stores, which was prior under Future Group. He said, "E-tailing is the path forward, It reflects the new India. It's about new lifestyles, new spending examples, its about new family structures. What's more we need to be in that space."

Snapdeal as of late raised USD 1 billion in the not so distant future from ebay, Ratan Tata and Azim Premji; Japanese enterprise Soft Bank had likewise invested USD 627 million in the organization.

Amazon plans to use USD 2 billion for amplifying its Indian operations. Flipkart, an adversary of both Snapdeal and Amazon, shut USD 1 billion headed by Tiger Global, DST and Accel Partners.

An alternate logged off retailer, Kishore Biyani, additionally has been in news of late around talking transparently the deficiencies of existing online retailers. Also his organization, Future Group, as of late declared a partnership with Amazon India, through which it will solely offer its attire online.

What's more his organization, Future Group, as of late declared a partnership with Amazon India, through which it will solely offer its attire online.