The company has settled the case by paying close to the deal value, says one of the sources.
The latest investment vehicle has been backed by a mix of institutional investors, such as Small Industries Development Bank of India, family offices and technology entrepreneurs.
Price points in Australia are 4-5 times of India, said co-founder Abhiraj Bhal, making it a very lucrative country to do business in while keeping technology costs under control.
RedSeer estimated that Flipkart emerged the big winner, accounting for more than 60% of the total sale during the period while its archrival Amazon India could manage only about 30%.
Investors pick up startups at seed stage as more angels step in.
Combined gross sales of the Amazon & Flipkart estimated at $3.5-3.7 bn, a jump of 33% YoY.
Booming food delivery business is making global majors rework India ops. While Uber is bringing its India arm HQ into the country, Amazon will launch private food brands
Last week, Zomato said its revenue for the first half of the ongoing financial year jumped more than three-fold to $205 million, compared with $63 million in the year-ago period.
ON THE FAST LANE: Firm’s rise to Unicorn status makes a compelling case for SME digital disruption.
Amazon has introduced games and contests to make customers engage with the platform better.
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