Tiger Global, Flipkart to back Rishi Vasudev’s new Thrasio-style venture
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Goat Brands Labs, a Thrasio-style venture of former Flipkart executive Rishi Vasudev for online fashion retail, plans to raise about $20 million in its first round of funding.
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Bengaluru/Mumbai:Rishi Vasudev, a vetaran fashion retail executive who previously headed Flipkart s fashion business, is raising new capital for his Thrasio-style venture, which will acquire lifestyle brands and help them build and grow online.
Vasudev s new venture, Goat Brands Labs, plans to raise about $20 million in its first round of funding, likely to be led by New York-based investment firm Tiger Global. US-based Mayfield Fund and Flipkart s venture fund are also expected back Vasudev s new venture, sources aware of the matter said.
Provided by Dow Jones By Maria Armental Coupang Inc. s stock fell 6.5% to $33.05 on a projected deceleration in the second quarter from the year-ago period, which saw a business surge as the pandemic hit South Korea. The South Korean e-commerce giant, backed by Japan s SoftBank Group Corp., in its first earnings report as a public company said it ended the March quarter with more than 16 million active customers, up 21% from the year earlier, while net revenues per active customer rose 44% to $262. Overall, net revenue surged 74% to $4.21 billion, but Coupang s first-quarter loss widened to $295 million, in part tied to higher expenses related to its initial public offering in March along with hiring and technology investments.
THG Raises $1 Billion for M&A, Adds SoftBank as Key Investor
May 11 2021, 1:35 PM
May 11 2021, 2:28 AM
May 11 2021, 1:35 PM
(Bloomberg) U.K. e-commerce operator THG Plc is raising $1 billion for future deals, with Japanâs SoftBank Group Corp. one of the worldâs biggest tech dealmakers becoming a cornerstone investor.
(Bloomberg) U.K. e-commerce operator THG Plc is raising $1 billion for future deals, with Japanâs SoftBank Group Corp. one of the worldâs biggest tech dealmakers becoming a cornerstone investor.
THG, which operates websites that sell beauty and nutrition products, including Myprotein.com and Coggles.com, is also buying the U.S. beauty company Bentley Laboratories for $255 million, according to a statement Monday.
Provided by Dow Jones
By Xie Yu A technology-led selloff extended into global markets Tuesday, with concerns about rising interest rates, high valuations and regulatory risk weighing on highflying internet companies. U.S. stock futures fell, suggesting American markets could come under fresh pressure on Tuesday after falling in the previous session. By early afternoon Hong Kong time, Nasdaq 100 futures stood 1.0% lower, while S&P 500 futures declined 0.5%. Asian markets were following their U.S. peers lower as concerns built about quickening inflation, even as U.S. monetary policy was easy and tech shares had grown more expensive, said Grace Tam, chief investment adviser for BNP Paribas Wealth Management in Hong Kong.
In India, social commerce platforms are on their way to becoming ‘formal’
May 5, 2021
Social commerce is on its way to becoming a more “formal” mode of shopping for Indian consumers, a report by Jefferies said as fashion, jewellery, beauty, and personal care gain from sales through social reselling, group purchases, and video-based buying.
Social commerce in India is still small at only $1.5-2 billion, with Meesho being the largest player for all types of social commerce combined, the report said.
However, aided by smaller towns, accelerated adoption and proliferation of new platforms, social commerce is set for growth. “Social commerce, which combines commerce with social media, is in its infancy but has potential to become mainstream. Forays by Reliance and Tata Group are already causing tremors in the e-commerce ecosystem and social commerce has the potential to further proliferate,” it said in a note on the sector.