The all cash deal is expected to close by the end of next month.
Indian market is dominated by Android mobile developers who comprise over 70% of the total pool.
Tiger Global is also an investor in rival firm Flipkart which has recently witnessed a number of markdowns by its investors and is also restructuring its business model.
The e-commerce players already pay tax in the origin state and along with this, it will be a double taxation for the companies.
Jabong has got an additional fund of $20 million from Global Fashion Group (GFG). The e-commerce company is currently running in losses though the company had recently stated that its Jabong’s growth in 2014-2015 was at 98%, which is nearly 20% more than its closest rival.
Fashion marketplace for women, Voonik is set to launch its men’s fashion app and so has acquihired Getsty, a curator of personalised fashion for men. The acquihiring will help Voonik to leverage its existing customer base, its supplier network and its recommendation engine to speed up its own men’s offering.
LeEco has announced the launch of LeEco Day in India on the e-commerce platform – Flipkart. This shopping bonanza with Rs 8 -crore worth of prizes and exciting offers will be held on February 25th. Starting LeEco Day , Le1s will be available on Flipkart without the registration process.
Flipkart owned Myntra after reporting a loss of Rs 740 crore is planning to foray into the US market and has set up a subsidiary of Myntra Inc. The e-commerce player plans to achieve profitability by 2017 and thus is looking for opportunities. Myntra had reported losses of R173 crore in FY14.
Aiming to build a larger network, Walmart Stores and Amazon is planning to invest more than Rs 2000 crore. Amazon seller services, the online e-commerce platform will receive an investment of Rs 1,696 crore from Amazon. Walmart Stores which plans to open close to 50 stores will invest Rs 360 crore.