The trouble continues for Snapdeal. In latest development, Foxconn owned FIH Mobile has written down around 80% of its investment of ₹12,800 crore ($200 million) in Snapdeal.
Fin-tech startup Capital Float is reportedly in advanced talks to raise around Rs 300 crore in its new funding round. Ribbit Capital is expected to lead the round, with participation from existing investors.
Poland-based online cryptocurrency trading platform has now expanded its operations to India. It will now further develop its products and source IT talent from the country.
Online beauty products marketplace Purplle.com is changing it business model from online-only to omni-channel. It will open five stores in Mumbai as a part of pilot project.
Snapdeal have written a letter in protest against the founders Kunal Bahl and Rohit Bansal, and recent decisions of the company. Its copy has also been sent to Prime Minister’s Office, Ministry of Finance, Governor of the Reserve Bank of India, Axis Bank MD, among others.
Flipkart, along with 38 other applicants, including ClearTax, Moglix and Intuit India did not make the cut to become GSP as they were found to be "ineligible as per financials".
After CEO Ajay Hattangdi and deputy CEO Vinod Murali, now InnoVen Capital's Director Anshu Prasher has quit the firm. He will be joining Saama Capital as its Principal.
Priyank Kharge, minister in Karnataka, claims that the state government has funded 61 startups in the last four months. The funded startups operate across various sectors.
Haptik, chatbot based virtual assistant, has announced its partnership with Amazon Pay, enabling users to make pay for flight tickets, bills and deals.
Hike has announced that it has acquired Creo, a Bangalore-based hardware technology startup. Creo has launched media streaming dongle Teewe and smartphone Mark 1.