Chinese internet behemoth Alibaba, which aims to enter the domestic e-commerce market by early next year, has held discussions to acquire online marketplace ShopClues, which is valued at over $1 billion. Alibaba wants to merge the marketplace of Paytm, in which it has a stake, with the much bigger rival ShopClues, as it is prospecting several acquisition targets to firm up an India entry against rival Amazon.
Online discount firm Zerodha has invested through its in-house incubator and fund Rainmatter in financial technology digital signature enabling platform Digio. The funding will be utilized for hiring purposes and for operational activities over the next 12-14 months.
SunnyBee, a Chennai-based farm fresh produce retailer, has raised approx $672K from a clutch of high-profile angel investors, led by personal care products major CavinKare’s founder C K Ranganathan. As per the deal, the company allotted 1,500 0.001% compulsory convertible preference shares (CCPS) at Rs 30,000 each to the investors.
The promoters of private exhibition organiser Asian Business Exhibitions and Conferences (ABEC) have acquired art monetisation portal PosterGully in a bid to tap the potential of the fast growing e-commerce space in the country. The company, which claims to have shipped out over 600K SKUs in the past three years, has currently over 5,000 artists selling their products on the platform.
Integrated commerce solution provider Iksula has acquired US-based Blisstering Solutions, a software development company. With this acquisition Iksula aims at combining its ecommerce solutions with a range of other software-based solutions provided by Blisstering, strengthening its hold over the worldwide market of retail and end to end services.