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    Sachin Bansal's BACQ may take over Essel Group's mutual fund biz

    Sachin Bansal's BAC Acquisition is likely to acquire Essel Mutual Fund, which is owned by the Zee group. BACQ's co-founder and Bansal's close aide, Ankit Aggarwal has been meeting with executives of the mutual fund to finalize the details of the acquisition as per media reports. Due to the growth surge in the fintech sector, the digitally invested assets under...

    • 38 min ago
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    ShopClues lays off over 200 employees; may go off soon

    The road towards fall for ShopClues seemed inevitable as and when Snapdeal lost acquisition interest in it. Since the elephant (Unicorn) was falling, it has been expected to affect several hundred involved either in causing the fall or saving from the fall - employees. Sensing the wind that is taking ShopClues in direction of ceasing operations, the company has fired over 200 employees...

    • 2 hrs ago
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    Ritesh Agarwal hatched investment entity seeks CCI nod to acquire stake in OYO

    Not only is the OYO seeing changes in the management structure, organisation structure, and business offerings, but also the equity shareholding pattern. Several reports have been circulating in the media in recent times illustrating how OYO is looking to raise $1.5 billion at a valuation of $10 billion. And other media reports are sure that Ritesh Agarwal is...

    • 9 hrs ago
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    India can't ban sale of petrol and diesel vehicles: Dharmendra Pradhan

    In a complete contrast to Niti Aayog's plan to phase out fossil fuel vehicles, Minister of Petroleum & Natural Gas Dharmendra Pradhan said that India can not afford to ban petrol and diesel vehicles. Pradhan further said that the country is heavily dependent on fossil fuels and it would very difficult to manage without these resources. In response to reporters...

    • 11 hrs ago
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    Accel leads $3 Mn round in corporate travel startup Travelstop

    In a pre-Series-A funding round, corporate travel startup Travelstop has scored $3 million from Accel Partners along with existing investors SeedPlus and Strive. Following the round, Accel will also help Travelstop in scaling up its operations with partner Prashanth Prakash joining the Board of Directors at the Singapore-based startup founded by Indian entrepreneurs. Increasing...

    • 11 hrs ago
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    eBay acquires 5.5% stake in Paytm Mall with $150 Mn investment

    Finally, the buzz around Paytm Mall - eBay deal got settled down. The US-based e-tailer has picked up 5.5% stake in the Alibaba-backed company with a probable investment of $150 million. Entrackr first broke this story in March when sources indicated that the valuation of Paytm Mall will see a massive haircut with the eBay investment. The current valuation could not be verified,...

    • 14 hrs ago
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    Ebix acquires Yatra in $337 Mn all stock deal

    US-based software firm Ebix has finally acquired Indian online travel booking company Yatra through a merger deal at an enterprise value of $337.8 million in an all-stock deal. The talks of the deal were cropped up in March when Yatra had said that it was reviewing Ebix's proposal to acquire all outstanding shares of the company with the help of Citi Group Global Markets Inc. as the financial...

    • yesterday
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    Rivigo's rejig results in 70-80 employees getting fired, placement offers withdrawn

    Transportation and logistics startup Rivigo has reportedly laid off employees and there have also been several complaints raised by people from colleges around rollback of offer letters extended to them during college placements. As per media reports, the number of fired employees lies in the range of 70-80 people whereas people from prestigious colleges like...

    • yesterday
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    Another crypto exchange Cryptokart shuts ops citing regulatory uncertainty

    Citing a lack of support and regulatory uncertainty to continue its operations in India, another cryptocurrency Cryptokart has closed down. We've decided to shutdown Cryptokart, said the firm's co-founder Gaurang Poddar said in a LinkedIn post. Poddar, further said that the major reason for shutting down the operation was dwindling general interest in the...

    • yesterday
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    Uber experiments call and SMS based bookings in vernacular languages

    In the era of app-enabled easy cab booking facility, Uber is testing the already tried and tested model of call and SMS-based cab booking service. The San Francisco-based company has, however, formulated a better idea for the Indian market than its peers like home-grown Ola. Unlike the previous call-to-book a cab feature, Uber will provide this facility in vernacular languages...

    • yesterday

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