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.
Subscribe to VCpost newsletter
Most Popular
- Trump Justifies Earning Millions from Foreign Governments During Presidency
- Supreme Court Hints at Granting Trump Criminal Immunity, Jan 6 Trial Delay Looms
- SSI Payment: Double Social Security Benefits in May? Here’s When You Will Receive Yours!
- Elon Musk Says US Companies Not Spending At Least $10 Billion on AI Like Tesla 'Cannot Compete'
- Businessman Who Shot His Wife to Death Thinking She Was an Intruder Gets Only 12 Years in Prison
- Tyson Foods Found Dumping Million Pounds of Toxic Pollutants into US Waterways
- Trans Woman Beaten to Death Outside Florida Ballet Studio
- Jewelry Maker Cartier Agrees to Let Mexican Man Keep $13,000 Worth of Earrings Only Bought for $13 After Website Mistake