FBI arrests ShopClues founder Sandeep Aggarwal on insider trading charges

In some disturbing news from the local ecommerce sector, Sandeep Aggarwal, founder and CEO of Gurgaon-headquartered Clues Network, which runs online marketplace ShopClues, has been arrested in the US on insider trading charges. The arrest was made by FBI agents at San Jose, California. We are awaiting an official comment from ShopClues on the development.…More

15 startups that raised top VC dollars in the first half of 2013

Venture capitalists’ enthusiasm for ecommerce has tempered in the past six months and it’s showing in the numbers. While investments in the sector have far from dried up, founders of ecommerce companies will tell you that term sheets have become rarer since January. Still, six ecommerce companies managed to make it to the list of…More

Hari Menon on taking BigBasket to Rs 100 crore revenues

About two years ago, VS Sudhakar, Hari Menon, Vipul Parekh and VS Ramesh decided to get together to take a crack at selling groceries online. The idea was seeded by serial entrepreneur and angel investor Krishnan Ganesh, who brought in the initial funding for the venture along with Meena Ganesh. The team launched BigBasket in…More

Opinion: SEBI’s angel fund norms a good step but need tweaking

SEBI’s move to define investment guidelines for angel funds is very welcome move. After some ill-conceived moves like tax on startup investments in the earlier budget, attempts to change policy with retrospective effect, etc. which dismayed the investor community, angel investors and entrepreneurs, this shows clear thinking and some thought out attempt to clarify  and…More

Exits are rare in India. When one comes along, you take it — Phanindra Sama

On Friday, Phanindra Sama, Sudhakar Pasupunuri and Charan Padmaraju, founders of Bangalore-based Pilani Soft Labs, which runs online bus ticketing platform redBus, became richer by a few million dollars. South African Internet and media conglomerate Naspers sealed a deal to acquire redBus for an undisclosed amount, through its subsidiary Ibibo Group (MIH India). Various media…More

Naspers-backed Ibibo Group acquires redBus. Founders stay on board

Ending speculation from last week, Bangalore-based bus ticketing company redBus has announced its acquisition by Ibibo Group (MIH India), a subsidiary of South African Internet and media conglomerate Naspers. The details of the transaction have not been disclosed. Several media reports have speculated on the deal size being anywhere between $100 million and $140 million.…More

Is Naspers buying B’lore bus ticketing company redBus?

Last week, The Times of India reported that South African Internet and media conglomerate Naspers, through its arm MIH, may be in advanced stages of acquiring a controlling stake in redBus at a valuation of $100 million. Following the report, speculation on the deal quickly went into overdrive. At the close of last week, NextBigWhat…More

Partner Event: Waygo is most promising startup at Echelon 2013

After an intense hour of pitching, our esteemed set of judges selected Waygo as the Most Promising Startup for Echelon 2013. Echelon 2013 is all about validating the promise of the startup ecosystem in the Asia Pacific region. This year, 10 of the region’s top startups have pitched their tech startups to a set of…More