The repeated markdown of Flipkart shares by its investors has put the valuation tag of $15.2 billion for India’s largest online retailer in question.
The firm sold a 6-7% stake in Byju’s to Silicon Valley venture capital firm Lightspeed Venture Partners, in a transaction pegged close to Rs 150 crore.
Prime Video, which will include Amazon original TV series and movies besides Indian and global content, is expected to be launched as a part of this service.
Stripe joins several other online payment services companies like the US-based Mozido and Payoneer, who have also set up offices in India.
Other existing backers of the Bengaluru-based company, which include Amazon Asia-Pacific, Accel India and Helion Venture Partners, have also participated in the new round of funding.
The deal underlines how companies with favourable unit economics even with a lower market share are able to raise capital in a tough funding environment.
To be spearheaded by PhonePe, the payments startup which was acquired by Flipkart in April this year, the product is expected to be ready for use in coming weeks.
For entrepreneurs, it is important to consult with their peers and mentors before starting negotiations on a term sheet, listing clauses they would be willing to discuss.
Though F-Assured will be launched across categories, Flipkart will focus on mobiles, large appliances, home and electronics through its top sellers including WS Retail.
This trend is going to be important for marketers to be able to reach these customers through smart and concise messaging,” according to FICCI Frames report 2016.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon