News Roundup : Flipkart To Raise $1.7Bn; TaxiForSure Founders To Exit Post Acquisition

Flipkart in talks to raise $1.7Bn
At a valuation of $15Bn+, Flipkart is raising another $1.7Bn. Tiger Global could be investing from its latest $2.5-billion (Rs 15,500 crore) fund that was raised in 2014 [source]
Flipkart Billion Dollar Funding
Amazon has announced $2Bn for India earlier.


Ola is acquiring TaxiForSure and post the merger, TaxiForSure cofounders will exit the company. The deal is being signed at about $200 million in mostly stock-swap with a swapping ratio of about one Ola share for seven TaxiForSure shares.
Around 20% of the deal is cash and the TaxiForSure cofounders are likely to be paid in cash [source]


Snapdeal asks for single-factor authentication for low value deals
Snapdeal has sought a staggered approach for ushering in single-factor authentication regime for small value transactions, starting initially with a cap of ?3,000. [source]


Narendra Modi’s plan to build I-ways meets only 12% of its 2014-15 target 
Narendra Modi’s ambitious plan to build I-ways to digitally empower people is floundering, with the government meeting just about 12% of its 2014-15 target to connect 50,000 villages through a national optic fibre network by the end of January. [source]

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