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Funding Roundup of India’s Biggest Internet Companies


1. Flipkart

Flipkart was established in 2007 by Sachin Bansal and Binny Bansal, both alumni of the Indian Institute of Technology Delhi. They had been working for Amazon.com previously. The business was formally incorporated as a company in October 2007 as Flipkart Online Services Pvt. Ltd. The first product sold by them was the book ‘Leaving Microsoft To Change The World’. Ecommerce pioneer Flipkart turned into the first VC-backed organization in India to have a billion dollar financing round. Tiger Global and South African media bunch Naspers drove the US$1 billion financing in July, which took after a US$210 million round only two months prior. And it rounded off the year with another US$700 million from new investors. Part of the funds went into acquiring leading fashion portal Myntra. Three months before the merger, Myntra had raised US$50 million. Tiger Global and Accel were the leading investors in both Flipkart and Myntra, and are believed to have insisted for the collaboration to shore up the battlefront against Amazon.

Total Funding: US $1.91 billion.


Snapdeal.com was started in February 2010 as a daily deals platform inspired by Groupon.com but expanded in September 2011 to become an online marketplace. Snapdeal has grown to become one of the largest online marketplaces offering an assortment of more than 4 million products across diverse categories from over 50,000 sellers, shipping to 4,000 towns and cities in India and is the main local rival to the Bangalore-based Flipkart. Snapdeal has received 6 rounds of funding:

At first, Snapdeal received a funding of $12 million from Nexus Venture Partners and Indo-US Venture Partners. In July 2011, the company raised a further $45 million from Bessemer Venture Partners. A 3rd round of funding worth $50 million came from eBay and received participation from existing investors as well. The 4th round of funding of $133 million in February 2014 was led by eBay with all the current institutional investors, including Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital and Saama Capital all participating.

Snapdeal received its 5th round of funding of $105 million in May-2014 which included investments by Blackrock, Temasek Holdings, PremjiInvest and others. Snapdeal received its 6th round of funding in Oct-2014 from Softbank with investments worth $627 million in fresh capital.

Snapdeal also managed to acquire sites like grabbon.com, esportsbuy.com, shopo.in, etc.

Total Funding: US $927 Million.

 3. OlaCabs

OlaCabs is an online cab aggregator based out of Bengaluru and among the fastest growing taxi hiring firms. Founded on 3 December 2010 by two IIT Bombay graduates, Bhavish Aggarwal (CEO) and Ankit Bhati. By 2014, the company has expanded to a network of more than 18000 cars across more than 65 cities. In November 2014, Ola expanded to incorporate autos on-trial basis in Bengaluru.

Post the trial phase, Ola Auto expanded to other cities like Delhi, Pune and Chennai starting December 2014.

The leading local player Ola had a whopping US$210 million funding round from Softbank in October on top of the US$41.5 million it had raised earlier in the year, taking its total funding in 2014 to over a quarter of a billion dollars. In April 2015, Ola raised another $315 million in funding.

Total Funding: US $566.5 Million


India’s largest online and mobile classifieds portal based in Mumbai, India, Quikr was launched on 12 July 2008 and is currently present in 900 cities across India. Quikr provides the local community with a platform to help them buy, sell, rent and find something and address needs across many categories. These categories numbering over 12 and sub-categories over 140 range from Mobiles, real estate, cars, services, jobs, entertainment, furniture, electronics etc.

The company is backed by Matrix Partners India, Omidyar Network, Norwest Venture Partners and invested in by eBay Inc. Quikr was formerly known as Kijiji.in.

Tiger Global came on board to give a boost to local classifieds portal Quikr in its battle with global player OLX. Two funding rounds of US$90 million and US$60 million in 2014 were recognition of the continuing appeal of the online classified listing sites despite the mushrooming of ecommerce sites.In April this year, Quickr raised another $150 million from returning investors Tiger Global and Investment AB Kinnevik, as well as Steadview Capital.

Total Funding: US $300 Million.

5. Housing.com

Real estate portal Housing.com was the third big beneficiary of Softbank’s largesse in India, with a US$90 million infusion of funds. This came on top of a US$19 million funding rounding June, taking its total for the year past the 100-million-dollar mark. Founded in 2012 by 12 young engineers from IIT Bombay, Housing.com has been a trail-blazer among Indian real estate portals, pioneering the use of map-based mobile technology to make house-hunting in a disorganized market easier.

Total Funding: US $109 Million.


Hike Messenger (stylized as hike messenger) is a cross-platform instant messaging service for smartphones that uses the internet for communication. In addition to text messaging, users can send each other graphical stickers, emoticons, images, videos, audios, files, voice messages, contacts and location.

Hike is a joint venture between Bharti Enterprises and Softbank which raised 21 million through two rounds of funding in 2013. Hike also managed to raise 65 million in a new round of funding led by New York investment firm Tiger Global Management LLC in August 2014. This endorses the relevance of a local messenger despite the popularity of WhatsApp in India.

Total Funding: US $81 Million.

7. IndiaHomes:

This is another real estate portal that raised big money this year – nearly US$75 million in two funding rounds. Investors have been drawn towards property sites which are adopting tech platforms to expand. IndiaHomes is also reported to be eyeing acquisitions for inorganic growth both in India and abroad.

Total Funding: US $74.8 Million.

 8. Zomato

Zomato is an online restaurant search and discovery service providing information on home delivery, dining-out, cafés and nightlife in cities of India and 21 other countries. By June 2010, the website broke even and had expanded its reach to Bangalore and Pune. That is when Info Edge (India), the parent company of the Naukri.com group, invested 4.7 crore (US$1 million) in the business. Zomato is going global fast, expanding to 20 countries, including Canada – which is a stepping stone to the USA to do battle with Yelp on its own turf. Its appetite for growth led to five acquisitions in New Zealand, the Czech Republic, Slovakia, Poland, and Italy. Zomato raised its second round of funding of US$3.5million from the same investor in September 2011. The following year Zomato raised its third round of another US$2.5 million followed by its fourth round worth US$10 million from Info Edge in early 2013, giving them a 57.9% stake in Zomato. In November 2013, Zomato raised US$37 million (6 crores) from Sequoia Capital and Info Edge (India). Info Edge now owns 50.1% of Zomato. In November 2014, Zomato closed a fresh round of funding of US$60 million at a post-money valuation of US$660 million. This round of funding was being led jointly by Info Edge (India) Limited and Vy Capital, with participation from Sequoia Capital.  From restaurant discovery and menus, it is building itself up into a global food community platform. In the process, it is showing other Indian internet companies how to think global. In April2015, Zomato raised US$50 million in a fresh round of funding from existing investor Info Edge

Total Funding: US $ 163 million

9. CommonFloor

It all started when they came to Bangalore in 2007 and couldn’t find the right property. After finding something to their satisfaction, many new problems cropped up which all had their seed in the process of moving to a new house. Privy to these problems, the trio of Sumit Jain, Lalit Mangal and Vikas Malpani ventured out to find a solution and that is how CommonFloor came into being. Two rounds of funding this year consolidated the advantage that this real estate portal has gained over more traditional sites.

Commonfloor.com has raised four rounds of funding from three investors, the most recent one being of around 10 million from Google Capital, just three months after receiving 30 million from Tiger Global. What sets CommonFloor apart is that it began as a community platform for house-owners, property seekers, and tenants to connect, interact, and solve everyday problems. Today, a huge real estate business has grown on top of it, but the hyper local social network has also developed alongside.

Total Funding: over US $40 million.

10. Hungama

Intel Capital, the VC arm of the global chip maker, and Bessemer Venture Partners invested US$40 million in Hungama, a digital entertainment company that has become the largest repository of Bollywood movies and music. The company was first launched in 1999 by Ashish Kacholia, Hiren Ved, Lashit Sanghvi, Rakesh Jhunjhunwala, and Neeraj Roy as an online promotions agency.  The company first launched in 1999 as “Hungama.com”, a promotional marketing portal. In 2000 the company acquired Indiafm and in the following years began to work marketing campaigns for companies such as Coca-Cola and Nike. In 2007 Hungama launched their gaming portal and in 2009, the company re-launched their website and company name, changing it to Hungama Digital Media Entertainment. In 2012 Hungama Digital Media Entertainment launched Artist aloud!, a digital platform for artists and music fans. The funds are helping Hungama to go mobile in a big way, to cater to the insatiable appetite for Bollywood songs and movies among the growing numbers of smartphone users in the country.

In March 2015, Hungama raised $100 million from venture capitalist firms Intel Capital and Bessemer Venture Partners.

Total Funding: US $140 million.





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