The investment will be used towards unit expansion, enhancing logistics, ramping up technology and marketing, the company said in a release here.
"I will not stop till I can see a â€˜Paytm Accepted Here‘ sign in a London or San Francisco someday," Sharma said.
Under the draft Model GST Law, e-commerce marketplaces will have to deduct a portion of the amount payable to the seller of goods/services and remit it to the government.
The SoftBank backed Snapdeal said that it has absorbed all Shopo employees.
Japan's SoftBank Corp has booked an investment loss of 39.28 billion yen (USD 350 million) on its investments in India, including those in cab-hailing firm Ola and e-commerce company Snapdeal.
Digital payments firm MobiKwik today said it is looking at raising fresh funding in three months as it revs up expansion to compete head-on with rivals like Paytm.
HEM securities has come out with its report on Krishna Phoschem SME IPO
Bansal said that the Internet will drive the service sector in India and the government is making a huge mistake by not recognizing it as a key growth sector.
VC fund Stellaris Venture Partners will allow individuals to invest their independent money in startups. The move by Stellaris is a departure from the usual norm as VC funds don‘t allow limited partners to invest individually.
Even as temple donations have fallen an estimated 30%-35% in January 2017 due to demonetisation, Gods are now turning cashless with Freecharge, Mobikwik and Paytm.
With its hourly cab rentals, Uber will compete with local taxi companies and Softbank funded Ola which launched hour-based rental services in August 2016.
Central Board of Direct Taxes (CBDT) chairman Sushil Chandra said the income tax department will come out with a clarification on which companies would be eligible to avail the tax benefit.
The startup will deploy smart lockers in various localities, and e-commerce companies can deliver the goods to those lockers, and such goods can be received by the customers by using a lock code which is sent to the customer.
Watch accompanying videos of Young Turks, where they dissect Budget 2017 and figure out what it means for startups and investors.
It is no wonder that executives at almost every major technology company, including Alphabet, Facebook and Apple, have made statements defending immigrants and distancing their companies from the president.
Often open defiance of government‘s laws may be good for brand positioning, market share and sales. It makes complete economic sense.
Snapdeal turned out be one of the most invested online retailer in 2016 having received USD 200 million in Series I round by Iron Pillar Fund and Ontario Teacher‘s Pension Plan.
The Budget 2017-18 announced a push to cashless transactions and reduction in tax rate for SMEs with an annual turnover of less than Rs 50 crore. Here is what India's startup CEOs feel about Budget 2017-18.
Tax experts say that the move to widen tax window to seven years for 'startups' will be an eyewash. The exemption of three years tax holiday can only be claimed by ventures incorporated and registered with government of India as a 'startup' post March 2016.
Presenting the Budget for the fourth time in the current government, Finance Minister Arun Jaitley proposed that high net worth NBFCs can also participate in Initial Public Offerings (IPOs), like banks and insurance companies.
From referral bonus and cash backs on digital transactions to incentives for online ticket bookings and a new AadhaarPay Application, Modi government is all determined to curb cash transactions and give India a digital push.
According to a survey conducted by moneycontrol.com most of the startups mark the Start-Up India initiative as a flop show.
One of the key things to be looked at will be the change in the strategies of the domestic firms such as Flipkart and Snapdeal to fight the US-based rival Amazon.
E-commerce major Flipkart is putting in place a strategy to scale up a low-cost delivery model, which it piloted in a few cities in 2016, in about 50 cities this year. The move is aimed at slashing logistics costs and reduce pressure on delivery network.
Moneycontrol.com conducted a survey of Indian startups across sectors to get a sense of their suggestions for the Modi government this Union Budget. Startups were questioned on a range of issues including tax holiday, demonestisation, investment climate and Startup India policy. Here are the results: