Funding & Acquisitions
Yahoo has acquired Blink which lets users send texts, pitcures, and audio that self destructs, just like Snapchat. Financial details of the deal have not been disclosed. Blink will shut down the app on iOS and Android. 7-person team will join Yahoo. Link
An interesting startup Satago which automates credit control, enabling small businesses & freelancers to get paid on time, has raised $1M from E-merge, BDMI, Edward Wray, & William Reeve. It had previously raised $48,000. Not getting paid on time, creates a big cash flow issues for SMEs. Link
French startup Bunkr, touted as Powerpoint kiler has raised $1.4M from Idinvest Partners, Deezer co-founder Daniel Marhely, & Free founder Xavier Niel. Bunkr apparently couldn’t raise funding from French VCs for a very long time, if you ask me it’s really a good product. Claims 50,000 registered users and 1,000 paid clients. Link
Enterprise mobility company RapidValue has raised Rs 25cr from Helion Venture Partners. Post investment, Rahul Chandra, a MD at Helion will join the board. Company will use the funds raised to expand its operations in US & Europe. Link
Suprisingly, Oravel – online short stay accommodation booking site has raised (reportedly Rs 4Cr) from DSG Consumer Partners & Lightspeed Venture Partners. In March, Oravel was going through some operational issues but its founder hopes that these issues will be sorted soon.