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E Commerce

CityMall’s Many Left Turns Into The INR 1,000 Cr Revenue Club


Be it the bustling bazars of Bareilly in Uttar Pradesh or the colourful neighbourhoods of Jodhpur in Rajasthan, there is something about India’s tier II and III cities and towns that draws all of us in.

This charmed CityMall founders, Angad Kikla, Naisheel Verdhan and Rahul Gill, too, to make India’s small towns their playground when they launched the ecommerce platform, now dedicated to groceries alone, in 2019. 

“While metros and tier I cities still dominated online consumption when we started, the real transformation was happening in…



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by Tech In Asia

GoTo’s legal and corporate secretary said the company follows regulations for public companies and will prioritize the interests of shareholders. Source link

by INC42

SUMMARY The due diligence is done, and both sides are negotiating final terms for the cash and equity transaction If the deal closes, it will mark one of the biggest consolidation in India’s auto tech sector Notably, CarDekho entered the unicorn club in October 2021 after raising $250 Mn at a $1.2 Bn valuation. It, however, shut down its used-car retail business in 2023 after high operating costs made it unviable Listed auto marketplace CarTrade is reportedly in advanced stages to acquire rival CarDekho in a deal valued at… Source link

by INC42

From a brand known for its cool urban image and setting the Indian craft brewery benchmark, Bira 91’s survival hangs by a thread.  The startup, which has raised more than $200 Mn in funding to date from investors such as Peak XV Partners, Sofina, and Kirin Holdings, among others, is struggling to move past the slowdown that hit its business last year.   At the centre of the storm are 600 employees, the investors, and Ankur Jain, the CEO and founder of B9 Beverages Ltd, Bira 91’s parent company.  Jain is under pressure to step down… Source link