KKR to invest $1.5 billion in India's Reliance Jio Platforms

KKR to invest $  1.5 billion in India's Reliance Jio PlatformsMukesh Ambani’s Reliance Jio Platforms has agreed to sell 2.32% stake to U.S. equity firm KKR in what is the fifth major deal the top Indian telecom operator has secured in just as many weeks. On Friday, KKR announced it will invest $ 1.5 billion in the top Indian telecom operator, a subsidiary of India’s most valued firm (Reliance Industries), joining fellow American investors Facebook, Silver Lake, Vista Equity Partners, and General Atlantic that have made similar bets on Jio Platforms.



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India's Khatabook raises $60 million to help merchants digitize bookkeeping and accept payments online

India's Khatabook raises $  60 million to help merchants digitize bookkeeping and accept payments onlineKhatabook, a startup that is helping small businesses in India record financial transactions digitally and accept payments online with an app, has raised $ 60 million in a new financing round as it looks to gain more ground in the world’s second most populous nation. The new financing round, Series B, was led by Facebook co-founder Eduardo Saverin’s B Capital. A range of other new and existing investors, including Sequoia India, Partners of DST Global, Tencent, GGV Capital, RTP Global, Hummingbird Ventures, Falcon Edge Capital, Rocketship.vc and Unilever Ventures, also participated in the round, as did Facebook’s Kevin Weil, Calm’s Alexander Will, CRED’s Kunal Shah and Snapdeal co-founders Kunal Bahl and Rohit Bansal.



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Acast partners with JioSaavn, one of India's largest streaming audio services

Acast partners with JioSaavn, one of India's largest streaming audio servicesAcast, a podcast monetization and distribution platform, announced a new partnership with JioSaavn, one of the largest streaming audio services in India. The agreement mean JioSaavn will distribute content from Acast and have access to its technology for podcasters. JioSaavn, which claims 104 million monthly active users, is the second-largest streaming audio service in India after Gaana, and holds about 24% market share, according to an OTT Audience Measurement Insights report.



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Silver Lake to invest $747M in India's Jio Platforms

Silver Lake to invest $  747M in India's Jio PlatformsWeeks after Facebook invested $ 5.7 billion in Jio Platforms, India’s top telecom operator, private equity firm Silver Lake is following suit — and is willing to pay a premium for it. Silver Lake announced on Monday it will be investing 56.56 billion Indian rupees (about $ 746.8 million) in Jio Platforms for about 1.15% stake in the Indian telecom network, giving it a valuation of $ 65 billion, a 12.5% premium* to the valuation implied by the Facebook investment.



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Silver Lake to invest $747M in India's Jio Platforms

Silver Lake to invest $  747M in India's Jio PlatformsWeeks after Facebook invested $ 5.7 billion in Jio Platforms, India’s top telecom operator, private equity firm Silver Lake is following suit — and is willing to pay a premium for it. Silver Lake announced on Monday it will be investing 56.56 billion Indian rupees (about $ 746.8 million) in Jio Platforms for about 1.15% stake in the Indian telecom network, giving it a valuation of $ 65 billion, a 12.5% premium* to the valuation implied by the Facebook investment.



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Silver Lake to invest $747M in India's Jio Platforms

Silver Lake to invest $  747M in India's Jio PlatformsWeeks after Facebook invested $ 5.7 billion in Jio Platforms, India’s top telecom operator, private equity firm Silver Lake is following suit — and is willing to pay a premium for it. Silver Lake announced on Monday it will be investing 56.56 billion Indian rupees (about $ 746.8 million) in Jio Platforms for about 1.15% stake in the Indian telecom network, giving it a valuation of $ 65 billion, a 12.5% premium* to the valuation implied by the Facebook investment.



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Silver Lake to invest $747M in India's Jio Platforms

Silver Lake to invest $  747M in India's Jio PlatformsWeeks after Facebook invested $ 5.7 billion in Jio Platforms, India’s top telecom operator, private equity firm Silver Lake is following suit — and is willing to pay a premium for it. Silver Lake announced on Monday it will be investing 56.56 billion Indian rupees (about $ 746.8 million) in Jio Platforms for about 1.15% stake in the Indian telecom network, giving it a valuation of $ 65 billion, a 12.5% premium* to the valuation implied by the Facebook investment.



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Security lapse at India's Jio exposed coronavirus symptom checker results

Security lapse at India's Jio exposed coronavirus symptom checker resultsIndia’s largest cell network Jio, a subsidiary of Reliance, launched its coronavirus self-test symptom checker in late March, just before the Indian government imposed a strict nationwide lockdown to prevent the further spread of the coronavirus. The symptom checker allows anyone to check their symptoms from their phone or Jio’s website to see if they may have become infected with COVID-19.



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India's FarEye raises $25M to grow its logistics SaaS startup in international markets

India's FarEye raises $  25M to grow its logistics SaaS startup in international marketsMore than 150 e-commerce and delivery companies globally use an Indian logistics startup’s service to work out the optimum way before they ship items to their customers. M12, Microsoft’s venture fund, led the seven-year-old startup’s Series D financing round. Eight Roads Ventures, Honeywell Ventures, and existing investor SAIF Partners participated in the round, which pushes FarEye’s total raise-to-date to $ 40 million.



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Amazon partners with India's second largest retailer to sell its goods online

Amazon partners with India's second largest retailer to sell its goods onlineAmazon is deepening its relationship with India’s second largest retail chain, Future Retail, as the e-commerce giant widens its footprint in one of its key overseas markets. The two said on Monday that they have entered into a long-term business agreement to expand the reach of Future Retail’s stores through Amazon India marketplace. Future Retail operates more than 1,500 stores across India, but until now, it has not aggressively explored sales online.



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India's richest man is ready to take on Amazon and Walmart's Flipkart

India's richest man is ready to take on Amazon and Walmart's FlipkartAs Amazon and Walmart-owned Flipkart spend billions to make a dent in India’s retail market and reel from recent regulatory hurdles, the two companies have stumbled upon a new challenge: Mukesh Ambani, Asia’s richest man. Reliance Retail and Reliance Jio, two subsidiaries of Ambani’s Reliance Industries, said they have soft launched JioMart, their e-commerce venture that works closely with neighbourhood stores, in parts of the state of Maharashtra — Navi Mumbai, Kalyan and Thane. In an email to Reliance Jio users, the two aforementioned subsidiaries that are working together on the e-commerce venture, said they plan to expand the service to many parts of India in coming months.



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India's electric bike rental startup Yulu inks strategic partnership with Bajaj Auto, raises $8M

India's electric bike rental startup Yulu inks strategic partnership with Bajaj Auto, raises $  8MYulu, a Bangalore-based electric bike sharing platform that maintains a partnership with Uber, said today it has won the backing of one of the country’s largest automakers. The two-year-old startup said it has entered into a strategic partnership with Bajaj Auto, which has also funded Yulu’s $ 8 million Series A financing round. As part of the partnership, Bajaj will co-design and manufacture future generation of Yulu two-wheelers, Amit Gupta, cofounder and chief executive of Yulu, told TechCrunch in an interview.



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