Oyo founder in talks to buy back $1.5 billion shares
Monday, July 8, 2019, 7:43 PM
Ritesh Agarwal, founder of Oyo Hotels & Home, is in the midst of buying back shares from early investors Sequoia Capital and Lightspeed Venture Partners to bulk up his ownership, said three people familiar with the matter. The move, unprecedented among leading privately held, new-age Indian startups, will help Agarwal raise his stake to around 30% from the current 10%.
Domestic e-commerce firms oppose extension of Feb 1 deadline
Monday, January 28, 2019, 6:09 PM
Domestic online retailers like Snapdeal and ShopClues have opposed the extension of the February 1 deadline for implementation of revised FDI policy on e-commerce. "An immediate...implementation of [revised policy] is important to ensure growth...of India's small businesses," Snapdeal Co-founder Kunal Bahl said. E-commerce platforms Amazon and Flipkart had sought for an extension of the deadline.
Sellers move courts against Snapdeal for non-payment of dues
Saturday, May 26, 2018, 6:43 AM
Some sellers on Snapdeal have filed cases in different courts in the National Capital Region (NCR) for alleged non-payment of dues, barely a year after a failed merger talks with larger rival Flipkart, which prompted the Gurgaon company to go solo with its Snapdeal 2.0 strategy. At least two sellers have dragged Snapdeals owner Jasper Infotech to courts for non-payment of dues.