Delivery Startup Dunzo Raises $240 Mn Funding; Reliance Retail Tops
Dunzo, a Bengaluru-based hyperlocal delivery startup, said that it raised $240 million in the latest round of funding. Reportedly, Mukesh Ambani's Reliance Retail topped among the investors by acquiring a 25.8% stake in the startup. Reportedly, the funding will help it to ramp its game against competitors. ''Dunzo is planning an initial public offering (IPO) in the next three years,'' informed Kabir Biswas, co-founder, and CEO of Dunzo.
Tags: Dunzo, Startup, Reliance Retail, funding, bengaluru
Courtesy: Startup Story
7-Eleven Stores To Be Opened Soon In India By Reliance Retail
Reliance's retail division Industries Ltd said on October 7 that it has negotiated a franchise contract with 7-Eleven Inc to open convenience stores in India. According to Reliance Retail Ventures Ltd, the first 7-Eleven store will open on October 9, in India's financial capital, Mumbai. Mukesh Ambani's Reliance had agreed to buy Future Group's retail assets but due to Amazon.com's objection, the acquisition came to a halt.
Tags: 7-eleven, Reliance Retail, India, Mumbai
Courtesy: The Times of India
Reliance To Acquire Local Search Engine Justdial
Mukesh Ambani-owned Reliance Industries (RIL) is in talks to acquire the local search engine Justdial for a whopping Rs 5,920 to Rs 6,660 crore. The deal will help Reliance to leverage the 25-year-old local search engine’s merchant database. In a board meeting to be held on July 16, Justdial will “evaluate” its fundraising plan. The promoters are said to hold a 35.5% stake in the company.
Tags: Mukesh Ambani, Reliance Industries, Reliance Retail, Justdial
Courtesy: Times Now Digital
Tata Group Plans To Acquire 68% Stake In Virtual Grocer 'BigBasket'
Indian conglomerate Tata Group has inked an agreement with online grocery platform BigBasket acquiring 68% stakes for Rs 9,500 crore. Resultantly, BigBasket's enterprise value clocked beyond Rs.13,500 crores. The new development arrived amidst speculations suggesting Tata Group's possible venture into the e-commerce arena, currently reigned by Grofers, Amazon, and Flipkart. While the rival Reliance Retail is also advancing invasions in the… read-more
Tags: Tata groups, BigBasket, E-commerce, Amazon, Flipkart, Reliance Retail
Courtesy: The Hindu