Flipkart’s digital payments firm PhonePe to raise $700 million from existing investors

NEW DELHI (Reuters) – PhonePe, the digital payments unit of Walmart’s Indian e-commerce arm Flipkart, said on Thursday it would sell a stake to existing investors for $700 million, helping it fuel growth in a crowded market that includes Google and Amazon .

FILE PHOTO: The logo of India’s e-commerce firm Flipkart is seen in this illustration picture taken January 29, 2019. REUTERS/Danish Siddiqui/Illustration

PhonePe’s fundraising, from Flipkart investors led by Walmart, will give it a valuation of $5.5 billion, the company said in a statement.

PhonePe is also using the opportunity to assert its independence from the Flipkart Group which runs a successful e-commerce business in India rivalling Amazon’s local unit.

It will have its own board of directors, which will include founder and CEO Sameer Nigam and former Flipkart boss Binny Bansal, who is no longer at the company he co-founded.

PhonePe will also have employee stock ownership

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The VC investors who stand to benefit most when Salesforce buys Slack

  • After Slack went public last year, a few of the VCs who funded it when it was a private startup held onto a chunk of their shares.
  • And they will be rewarded handsomely now that Salesforce has agreed to pay a premium and buy Slack for $27.7 billion.
  • The investors who stand to benefit include Chamath Palihapitiya and Accel’s Andrew Braccia.
  • Visit Business Insider’s homepage for more stories.

Salesforce chief Marc Benioff has called his company and Slack “a match made in heaven.”

And if Salesforce’s purchase of the popular work-chat app for $27.7 billion passes regulatory muster, their union should make some major Slack investors very happy and über rich.

Many of them are the kinds of institutional investors that often own large chunks of newly public tech companies, such as T.Row Price, Vanguard, and BlackRock. 

But a number of them are VCs who first bought in when Slack

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Non-Chinese Investors Flock To India, As Chinese Money Pales


7 min read


You’re reading Entrepreneur India, an international franchise of Entrepreneur Media.

Even a cursory glance at the business headlines during the past few months will point to the growing trend of foreign investors pumping cash in Indian companies. The Indian Prime Minister Narendra Modi recently, while speaking at US India Strategic Partnership Forum (USISPF), claimed that the country has received over $20 billion foreign direct investment (FDI) this year.

When it comes to the Indian startup ecosystem, which is burgeoning in recent times and has more than two dozen unicorns, has always had foreign investors play an epoch-making role for a company’s future. From the nascent stage of Indian startup ecosystem, foreign investors, particularly Chinese investors, have shown a massive interest after understanding the market potential. However, in current times, there has been a gradual shift in terms of the source of investment.

Why is

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Saudi Arabian Investors To Acquire Stake In SNK

Kotaku EastEast is your slice of Asian internet culture, bringing you the latest talking points from Japan, Korea, China and beyond. Tune in every morning from 4am to 8am.

In 2015, Osaka-based game company SNK was acquired by Chinese investors. Now, it seems, the company has new investors.

Eikichi Kawasaki originally founded the company in 1978 as Shin Nihon Kikaku. Famous for its hardware and fighting games, the company became a giant in the Japanese gaming industry. At Esaka Station in Osaka, where the SNK headquarters used to be, there were signs in its heyday announcing that the location was the home of SNK.

However, in 2000, the company was acquired by a pachinko company and then found its iconic characters farmed out to pachinko machines. By 2015, a Chinese joint venture had acquired SNK, hoping to turn the company into a multimedia juggernaut. The acquisition made sense as

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Celestica to Hold a Virtual Meeting About Its Joint Design and Manufacturing Business With Analysts and Investors

TORONTO, Nov. 25, 2020 (GLOBE NEWSWIRE) — Celestica Inc. (NYSE:CLS)(TSX:CLS), a leader in design, manufacturing and supply chain solutions for the world’s most innovative companies, today announced it will hold an analyst and investor meeting on December 2 at 4:00pm ET. During the meeting, Celestica’s management will provide an overview of Celestica’s Joint Design and Manufacturing business, and will reaffirm Q4 2020 guidance and outline near-term expectations.

To participate in the conference call in listen-only mode, please dial (647) 788-4919 or 1 (877) 291-4570. To ensure your participation, please call in approximately ten minutes prior to the scheduled start of the call. Analysts will have the opportunity for a Q&A with speakers following the formal remarks.

A webcast is also available at:
https://onlinexperiences.com/Launch/QReg/ShowUUID=D17311B8-8E5F-460E-A143-D9B5E264D255 
A recorded webcast will be available approximately two hours after completion of the call for 12 months. To access the recorded webcast visit www.celestica.com.

About Celestica
Celestica

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Ripple’s XRP surges 70% as Bitcoin craze sends investors flocking to smaller cryptocurrencies



Thomas Trutschel/Photothek via Getty Images


© Thomas Trutschel/Photothek via Getty Images
Thomas Trutschel/Photothek via Getty Images

  • The price of Ripple’s XRP gained as much as 70% in hugely volatile trade on Tuesday, extending the broader cryptocurrency rally led by Bitcoin.
  • As institutional investors allocate massive amounts to Bitcoin as a hedge against inflation, other market participants are looking to alternative cryptocurrencies — or altcoins. 
  • Ripple designed XRP to perform speedy, less costly, and more scalable alternative transactions.
  • The token’s latest rally is also being driven by a central bank push to digitalize currencies.
  • Visit Business Insider’s homepage for more stories.

Ripple’s XRP surged as much as 70% on Tuesday as the third-biggest cryptocurrency extended a rally that has been kickstarted by mass interest in Bitcoin. 

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Ripple’s price has risen about four-fold since the start of the pandemic, making gains alongside Bitcoin — which rose 4% to a near all-time high of $19,241 on

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Business Continuity Planning Software Market Outlook: Investors Still Miss the Big Assessment | Stay Tuned for Latest Update

The MarketWatch News Department was not involved in the creation of this content.

Nov 23, 2020 (AB Digital via COMTEX) —
Latest Report Available at Advance Market Analytics, “Business Continuity Planning Software Market” provides pin-point analysis for changing competitive dynamics and a forward looking perspective on different factors driving or restraining industry growth.

The global Business Continuity Planning Software market focuses on encompassing major statistical evidence for the Business Continuity Planning Software industry as it offers our readers a value addition on guiding them in encountering the obstacles surrounding the market. A comprehensive addition of several factors such as global distribution, manufacturers, market size, and market factors that affect the global contributions are reported in the study. In addition the Business Continuity Planning Software study also shifts its attention with an in-depth competitive landscape, defined growth opportunities, market share coupled with product type and applications, key companies responsible for the

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Social Networking Advertising Market Booming Segments Investors Seeking Stunning Growth | Facebook, LinkedIn, Google Edition, Twitter

(MENAFN – iCrowdNewsWire) Social Networking Advertising Market Booming Segments; Investors Seeking Stunning Growth | Facebook, LinkedIn, Google Edition, Twitter
iCrowdNewswire   Nov 19, 2020  9:16 PM ET

The Global Social Networking Advertising market report highlights the vital entities associated with the Industry characteristics, influencing aspects of the market, and other factors are featured in the report. The report offers crucial and latest information with segmentation, regional analysis. The major players of the market are covered along with their market share, business plans, revenue analysis, demand & supply statistics, and growth trends are explained. This report presents various new business opportunities and smart implementation in the market, allowing for the estimation of the market in a superior way.

Key Players in Social Networking Advertising Market:

Facebook (United States), LinkedIn (United States), Google Edition (United States), Twitter (United States), Instagram (United States), Snapchat (United States), WeiBo (China), Tencent (China), LINE (Japan), Kakao Talk

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Future Bright For US Sports Betting Investors As Digital/Mobile Betting Gains Marketshare

Global gaming revenues continue to stumble through the COVID-19 era, with H2 Gambling Capital reporting that the industry earnings are down 26% in 2020.

Retail gambling revenues were hit hardest, as lockdowns and government mandated stay at home orders saw brick-and-mortar establishments take a 39% blow.

Wait… This Is Good News?

“Numbers don’t always tell the full story,” exclaimed Shadd Dales of the emerging financial market news site TheDalesReport. “The short term losses likely expedited both legislative and technological advances in the US in ways that suggests a strong short term and long

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The world’s largest wealth manager names 4 sub-sectors poised to be the ‘next big thing’ for investors

Wall Street coronavirus


  • After tech and consumer discretionary sectors dominated the last decade, investors should look elsewhere for the next market leader, Mark Haefele, chief investment officer of UBS Wealth Management, said Wednesday.
  • After a decade of outperformance, the sectors have a 25% chance of becoming one of the two worst-performing groups over the next 10 years, UBS said. They only have an 8% chance of repeating their previous outperformance.
  • “We think the next decade will reward investing in the disruptors in sectors undergoing technological transformation,” Haefele said.
  • Here are the 4 sectors set to be the “next big thing,” according to the world’s largest wealth manager.
  • Visit the Business Insider homepage for more stories.

Investors should look elsewhere for the “next big thing” following a decade of tech-sector dominance, Mark Haefele, chief investment officer of UBS Wealth Management, said Wednesday.

Since 1973, sectors that led the market over an

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