Valuation: $15.5 Billion.
India’s largest e-commerce firm Flipkart is closing a funding round for over $500 million at a valuation of $15.5 billion. The paperwork for the latest round, where only existing investors have participated, is coming to a close, according to an investor source who did not want to be quoted. The most prominent investor in this round is Tiger Global.
At a $15.5 billion valuation, the net worth of Flipkart’s two founders Sachin Bansal and Binny Bansal (the two are not related), former Amazon executives, will zoom up to $1.16 billion each. The duo has identical stakes of 7.5% each in the company they launched as an online book retailer in 2007. The Bansals will be the first of India’s e-commerce entrepreneurs to turn billionaires. (source: Forbes)
Valuation: $4.8 billion
Founded in 2010 by Bahl and Rohit Bansal as a deals site, Snapdeal, promoted by Delhi-based Jasper Infotech Pvt. Ltd, has become the biggest local rival to Flipkart.
The company has more than 150,000 sellers and about 15 million-plus products across 500 plus categories listed on its platform.
Snapdeal currently delivers goods to over 5000 cities and towns in India. (source: Livemint)
Valuation: $2.5 Billion
The eight-year old company was founded by Mohit Saxena, Abhay Singhal, Amit Gupta and Naveen Tewari, InMobi offers advertising services based on the profiles and behavior of the users. Valued at $2.5 billion, the firm has received a total capital of $220.6 million in 5 Rounds from 4 Investors namely, SoftBank, Sherpalo Ventures, Kleiner Perkins Caufield & Byers among others.
In December 2014, the company had secured $5 million from SoftBank Capital. InMobi has recently invested Rs 8 crore in Bengaluru-based online home rentals firm, NestAway with participation from VC firm IDG Ventures. (source: iamwire)
Valuation: $2.5 Billion
Taxi app Ola has become the third-most valuable venture-backed company in India after snagging funding of $400 million, or Rs 2,500 crore, from a consortium of investors, in August 2015.
“We will scale up rapidly and double our products and engineering team to about 1,000 in the next quarter,” said Bhavish Aggarwal, an IIT-Bombay alumnus who claimed the merged entity now commands an 80% share of the market.
For cab-hailing apps in India, the biggest concerns don’t relate to the market—industry estimates peg it at around Rs 60,000 crore, of which only 4-6 % is organised–but the regulatory environment. Officially, Ola and Uber are both banned in Delhi and the government is yet to come up with rules that will govern their services. (source: ET)
Valuation: $4 billion
Chinese e-commerce giant Alibaba Group Holding and finance arm Ant Financial Services Group are injecting fresh capital into Paytm, India’s largest mobile payment and commerce platform, in what the companies say is a “strategic” investment.
Ant Financial already acquired 25% of Paytm parent One97 Communications in February in a transaction that a person with knowledge of the matter said was worth more than $500 million.
(source: Business Standard)
Inside PayTM’s Office | Take a look at the battle station of one of India’s biggest e-commerce companies.
Valuation: $1.5+ Billion
Zomato was founded in 2008 by Deepinder Goyal and Pankaj Chaddah, it is an online and mobile restaurant search and discovery service, providing information for 300,000 restaurants across 19 countries. Valued at around $ 660 million, the company has raised a total capital of $113.8 million in 6 rounds from 3 investors namely, Sequoia, Info Edge and VY Capital.
In April, the firm has received $50 million led by existing investor InfoEdge.