India

India’s Snapdeal to double its workforce

India ecommerce marketplace Snapdeal has announced plans to double its workforce by the end of the 2015-16 fiscal year. The proposed increase to a 10,000-strong workforce across verticals is necessary to support the company’s ambitious expansion plans. Aimed at increasing delivery operations and capability, the company’s expansion plans are reportedly worth between $150 to $200 million....

Read More

Housing.com gets $90 million

In a year when Indian online real estate classifieds websites have been raking in big bucks, it’s going to be a sunnier Christmas for Mumbai-based Locon Solutions Pvt. Ltd., promoters of Housing.com. The map-based house hunting website, which was started by 12 graduates of the prestigious Indian Institutes of Technology (IITs) in 2012, has received a financial injection of $90 million from...

Read More

Tiger Global invests $30 mil. for mobile

A day after Tiger Global Management LLC was reported to be in the process of raising a $1.5 billion fund, the New York-based part hedge fund/part private equity firm was back in the headlines in India last week for pumping $30 million into the Indian real estate search and classifieds website, Commonfloor.com. With this fifth round of funding, Commonfloor.com has raised more than $50 million...

Read More

Tiger Global helps Quikr raise $65 million

For Pranay Chulet, founder-CEO of India’s headline-grabbing online classifieds website, Quikr.com, a dogged determination to succeed against odds comes naturally. He did not have a science teacher till the tenth grade in his government-run school at a dusty zinc-mining outpost in the poverty-stricken state of Rajasthan. Yet, he secured a seat at the prestigious Indian Institute of...

Read More

$90 million investment lifts Quikr

By Sourish Bhattacharyya A consortium of companies led by Investment AB Kinnevik of Sweden has pumped $90 million (U.S.) into privately held Quikr.com, the online classifieds and mobile commerce venture in India, keeping up the steady flow of funding into the country’s Internet retail business. Quikr’s valuation has now gone up to more than $250 million, according to The Economic Times,...

Read More

Take a quik look at Quikr’s new offices

We’ve taken you into the offices of InfoEdge in India, parent company of Naukri.com, 99Acres.com and other classifieds businesses. (See CIR 15.01, Jan. 16.) And we’ve taken you into the “Sahiplex,” the headquarters of Sahibinden in Turkey. (See CIR 14.20, Oct. 30, 2013, Page 82.) Now, courtesy of the EconomicTimes section of IndiaTimes.com, here’s a great look at the new offices of...

Read More