Justdial, the Mumbai based local search and listings company, yesterday reported its numbers for the financial year ended March 2104. It closes the year with operating revenues at Rs 461.29 crore, up 27 per cent from Rs 362.77 crore in the previous financial year. Net profits grew 76 per cent to Rs 120.62 crore.
Canaan Partners backed Happiest Minds Technologies, the software services and consulting company started by Mindtree founder Ashok Soota, is reporting an annual revenue run rate of $34 million at the close of its second financial year, ended March 2014.
Bangalore based ecommerce company Flipkart has launched Flipkart First, a subscription based service to offer members priority service features. As a launch feature, it will randomly select 75,000 customers and offer them the service free of cost for the first three months.
Mumbai based online baby and kids products store Hopscotch is acquiring SkoolShop.com, an online store that specializes in school supplies. Hopscotch has entered into a definitive agreement to acquire SkoolShop, owned by Mumbai based Occasion Kommerce. The financial details of the transaction have not been disclosed.
Chinese ecommerce giant Alibaba on Tuesday filed for a $1 billion IPO with the US Securities and Exchange Commission (SEC). It will list either on the New York Stock Exchange or the Nasdaq and has not yet specified a ticker symbol.
Founded in 1999 by Jack Ma, a former English teacher, Alibaba reported revenues at $5.55 billion on profits of $1.37 billion, for the financial year ended March 31, 2013.
DFJ Growth, the later stage focused venture capital arm of Draper Fisher Jurvetson (DFJ), has raised $470 million in its latest fund and its second in the growth stage series. The fund targets private technology companies that are scaling rapidly and poised for category leadership. The new fund comes just three months after DFJ raised the $325 million DFJ Venture XI, an early stage fund.
Delhi based Acidaes Solutions, developer of enterprise software solution CRMnext, has raised an undisclosed sum in a fresh funding round from Norwest Venture Partners. The company will use the funds to accelerate its global outreach and make investments in research and innovation. The company’s longer term strategy is to become one of the top five players in the global customer relationship management market across industries.
Mumbai based Indiavidual Learning, a startup that has developed online test perparation platform Embibe, has raised $4 million in Series A funding from Lightbox Ventures and Kalaari Capital. This is Mumbai based venture capital firm Lightbox Ventures’ first investment from its $90 million debut fund.
Anchanto, a Singapore based ecommerce fulfilment platform, has raised an undisclosed amount in funding round led by Innosight Ventures, reports e27. Cub Capital, Scott Anthony and Akshay Mehra have participated in the round. The company will set up shop in Malaysia, Indonesia and India in the next 6 months. The company already has operations in Pune.