STARTUPCENTRAL

Dentsu buys 80 per cent of Webchutney; Network18 exits

StartupCentral — Thu, 23 May 2013 16:35:31 +0000

Delhi-based digital advertising agency Webchutney has a new owner in Dentsu India Group, the 100 per cent subsidiary of Tokyo-headquartered media company Dentsu. It has acquired an 80 per cent stake in the company, picking up 70.06 per cent from Network18 Media & Investments, said media reports. The financial details of the transaction have not [...]

Rediff has sold stake in LBS co Adnear for $1.14 mn — Medianama

Medianama — Thu, 23 May 2013 07:06:19 +0000

Rediff has sold its stake in Adnear (previously known as Imere), a location based company in which it had bought a minority stake in 2009, for $1.14 million, Rediff.com has disclosed. In November 2012, AdNear had raised Rs 35 crore (around $6.2 million at current levels) from Sequoia Capital India and Canaan Partners. AdNear offers [...]

LurnQ partners Plancess for engineering tests prep courses

StartupCentral — Thu, 23 May 2013 06:50:15 +0000

Mumbai-based Technium Labs, which runs LurnQ, a unified and open online learning platform for learners and teachers, has entered into a partnership with Plancess, a company that provides study material for engineering entrance examinations prepared by top hundred IIT-JEE rankers.The partnership will give Plancess LurnQ’s technology for running engineering test preparation courses online. This will [...]

Language learning platform CultureAlley raises funds from KAE Capital

StartupCentral — Thu, 23 May 2013 04:30:52 +0000

Jaipur-based Intap Labs, which runs online language learning platform CultureAlley, has raised an undisclosed amount in funding from KAE Capital, the Mumbai-based early stage investor, reports Mint. The firm has picked up a minority stake in the company, said the report. Founded in 2012 by Nishant Patni and Pranshu Bhandari, CultureAlley uses live videos for [...]

Just Dial IPO oversubscribed 11.63 times; retail investor response moderate

Snigdha Sengupta — Thu, 23 May 2013 03:30:10 +0000

Mumbai-based local search firm Just Dial’s initial public offering (IPO) sailed through yesterday, with the issue being oversubscribed 11.63 times by institutional and retail investors, according to NSE data. The company received bids for more than 157 million shares (157,754,675 shares) against the total offer size of more than 13 million shares (13,560,533 shares). The [...]

Just Dial IPO subscribed 70 per cent on Day 2; offer closes today

StartupCentral — Wed, 22 May 2013 06:49:37 +0000

We’re into the third and last day of the Just Dial initial public offering and so far it’s going okay. The company is in the market to raise a targeted Rs 950 crore ($174 million) and is diluting 25.02 percent of the fully-diluted post-offer paid-up equity capital of the company. Yesterday, on Day 2 of [...]

Yebhi launches virtual stores in CCD outlets

StartupCentral — Wed, 22 May 2013 05:19:13 +0000

Nexus Venture Partners-backed Yebhi has launched ‘virtual stores’ across 30 Cafe Coffee Day outlets in Delhi and Bangalore, according to various reports. In order to shop at the virtual stores, customers can select any item by scanning the QR code or tapping on the NFC code on their smartphones. This will lead them to the [...]

Udyan Tea: Have your favourite cuppa delivered to your doorstep

Sudipto Baruah — Tue, 21 May 2013 05:58:36 +0000

If you are from the eastern part of the country, the terms ‘first flush’ or ‘autumn flush’ would be familiar, even nostalgic. For the uninitiated, that’s common lingo for the different tea growing seasons and denotes the particular quality of tea available from that season. A Siliguri-based startup, Udyan Tea, now makes all these flushes [...]

Yahoo buys Tumblr for $1.1 bn; “Not turning purple” says founder David Karp

Snigdha Sengupta — Mon, 20 May 2013 13:56:53 +0000

Ending speculation from last week, Internet company Yahoo! is announcing that it has reached a definitive agreement to acquire short-form blogging platform Tumblr. The acquisition is being undertaken at a total consideration of approximately $1.1 billion, substantially all of which will be payable in cash, the Sunnyvale, California-headquartered company said in a press release. The [...]

Tzinga owner Hector Beverages raises $8 mn from Sequoia, Catamaran

Sudipto Baruah — Mon, 20 May 2013 11:20:22 +0000

Gurgaon-based Hector Beverages, which retails the energy drink brand Tzinga, has raised a $8 million in a second round of funding led by Sequoia Capital India. Existing investors Catamaran Ventures and Footprint Ventures have also participated in the round. The company had reportedly raised a Rs 6 crore (a little over $1 million) first round [...]