Flipkart founder’s bet would be largest personal investment in Indian Internet space.
This will be the first Indian affiliate of a US-based venture capital firm to transition to a local brand.
The development comes as India has emerged as one of the fastest growing markets for Salesforce, with the number of customers and revenues increasing 100% year-on-year.
The San Francisco-based unicorn, valued at over $12 billion, has launched 7 offices across international markets
Round led by Shunwei Capital, along with Morningside & DST Global affiliate Jesmond.
Round led by existing backer Shunwei Capital with new investors Morningside and a DST Global affiliate
The agreement is a part of Ant Financial’s $200 million investment in Zomato in February, as per its updated Articles of Association.
Flipkart investors can sell shares to Alibaba only if Tencent is notified of the transaction in detail at least five business days ahead.
The move will give more power to Ola cofounders Bhavish Aggarwal and Ankit Bhati, who strengthened their rights last year allowing them to veto any further stake buys by the largest shareholder, SoftBank, as also protect their stake.
The New York-based hedge fund will step up investments in India from its mega $3 billion fund called Tiger Global Private Investment Partners XI, said two people with knowledge of the company’s strategy in the country.
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