Funding & Acquisition

Funding & Acquisitions

Myntra has finally confirmed that it has been acquired by Flipkart. Mukesh Bansal will be joining Flipkart’s board and head the fashion business for Flipkart. Both companies to operate separately & Flipkart will invest $100M in Myntra. Myntra employees who have esops will be getting Flipkart Stock. Link

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One97 Communications has set apart INR 150cr to fund acquisitions of two consumer facing tech companies. Says will help the company grow Paytm. Which companies do you think they are looking to acquire? Link

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Snapdeal has raised $100M in fresh funding from BlackRock, Temasek, PremjiInvest and others. New funding comes barely 3 months after it raised $133.77M. How are these ecom companies burning so much cash? Link

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Interactive ad startup true[X] has raised $6M as an extension of the $20M Series D that it raised in 2011. New funding comes from existing investors Pinnacle Ventures, Norwest Venture Partners, Jafco Ventures and Redpoint Ventures. Link

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Twitter was looking to acquire SoundCloud, the music and audio sharing platform, but it walked away from the deal. Rumors suggest that it did so as the numbers didn’t add up. Link

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