Flipkart, India's largest e-tailer, on Thursday acquired the country's biggest fashion portal Myntra, as Amazon.comInc's rapid expansion in the country stokes consolidation in the e-commerce industry.
Indian fashion portal confirms $50M capital injection from Premji Invest and rejects Flipkart merger
Bangalore, India-based fashion portal Myntra confirmed that it raised $50 million in a new funding round led by Premji Invest, and decided not to pursue a merger with Indian e-commerce giant Flipkart.
New York, US-based independent software corporation CA Tech invested an undisclosed amount with venture capital group IDG Ventures India in India-based enterprise software startups from October to December 2013.
Bangalore, India-based online fashion retailer Myntra raised $50 million in funding as it got approached by e-commerce giants Amazon and Flipkart as the round closed.
India-based e-commerce giant Flipkart is in talks to merge with online fashion retailer Myntra as part of a proposal being pushed by common investors Tiger Global and Accel Partners.
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