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<ul><li><keyword id="7412577" type="General" weightage="20" keywordseo="Dealshare" source="Orion">DealShare</keyword> is looking to hire upto 1,500 employees across tech and product side to increase its workforce to 3,500.</li><li>The four-year-old <keyword id="623994" type="General" weightage="20" keywordseo="social-commerce" source="Orion">social commerce</keyword> startup plans to expand its business 3x and enter another 100 cities in this fiscal year.</li><li>It serves more than 3 lakh orders per day across 1,000 pin codes spread over 150 cities in 10 states.</li></ul>Grocery-focused social commerce startup DealShare is looking to hire upto 1,500 employees across tech and product side to increase its workforce to 3,500 by the end of this fiscal year. The company has already doubled its workforce to 2000 since last year, Vineet Rao, founder and chief executive officer of DealShare, told Business Insider. The hiring outlook is a part of DealShare’s plans to further strengthen its business this quarter by focusing on filling the gaps in the business in order to build a stronger offering. Simultaneously, the company plans to expand its business 3x and enter another 100 cities in this fiscal year (FY 22-23). “Because we were growing up so fast there have been lots and lots of problems that have also creeped in. In some places my assortment is not perfect the way it should be, people are not finding all the things that they should find in DealShare, in some places pricing and promotions are not right, in some places the inventory is not available as much as it should be,” Rao told Business Insider. DealShare serves more than 3 lakh orders per day across 1,000 pin codes spread over 150 cities in 10 states. The company believes that even with the expansion to 250 cities, a large part of their traffic would come from their existing 150 cities instead of the newly added 100 cities. The company also claims to have crossed a billion dollars in gross revenue run rate last month. DealShare has raised $393 million to date since its inception in 2018. The company was founded by Vineet Rao, Sourjyendu Medda, Sankar Bora and Rajat Shikar. It primarily focuses on sale of groceries and household essentials through social media and messaging platforms like WhatsApp. The Jaipur-based company entered the unicorn club earlier this year, after being <a href="https://www.businessinsider.in/business/ecommerce/news/social-e-commerce-platform-dealshare-raises-45-million-from-adia/articleshow/89641250.cms">valued at $1.7 billion</a>. DealShare competes with other social commerce platforms like <a href="https://www.businessinsider.in/business/startups/news/citymall-a-startup-that-helps-budding-entrepreneurs-start-their-ventures-on-whatsapp-has-raised-over-22-million/articleshow/83741383.cms">CityMall and BulBul</a>, among others. Looking beyond hiring, Dealshare has plans for inorganic growth, too The company is also looking to strengthen its business by acquiring 5-10 small brands, with their own manufacturing units, in an attempt to expand its offerings. Rao emphasised that they would be looking to acquire fast moving consumer goods (FMCG) and staples companies majorly, but will also look at essential fashion. The four-year-old startup has not yet decided on an average ticket size yet as the deal size would depend on the acquired company. Rao noted that the transaction could go as low as ₹25 crore. The company is currently exploring options for debt to fund these acquisitions. Separately, DealShare also claims to always be on the lookout for acquiring companies that can further boost its operations like logistics or technology. The Jaipur-based startup claims to have over 1,000+ micro-entrepreneur partners registered on the platform, who help sell products online. The company targets to increase this figure to 5,000 by year end, DealShare’s chief operating officer and founder Sankar Bora previously said. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/tech/enterprise/news/cognizants-latest-earnings-have-a-silver-lining-for-indian-it-majors-tcs-infosys-and-wipro/articleshow/91334290.cms">Cognizant’s latest earnings have a silver lining for Indian IT majors TCS, Infosys and Wipro</a> <a href="https://www.businessinsider.in/business/corporates/news/google-india-appoints-former-modi-think-tank-official-as-policy-head/articleshow/91333970.cms" data-type="tilCustomLink">Google India appoints former Modi think-tank official as policy head</a> <a href="https://www.businessinsider.in/stock-market/news/these-domestic-mutual-funds-stepped-up-for-lic-ipo-anchor-book-as-foreign-investors-remain-cautious/articleshow/91306852.cms">LIC IPO anchor book — domestic mutual funds step up as most marquee foreign investors skip India’s biggest IPO yet</a>

Social commerce unicorn DealShare is now on a lookout to hire 1,500 employees, acquire 10 businesses this year

Social e-commerce platform <keyword id="7412577" type="General" weightage="100" keywordseo="dealshare" source="Orion">DealShare</keyword> on Thursday said it has raised another $45 million as part of its series E funding round from the Abu Dhabi Investment Authority (<keyword id="6482676" type="General" weightage="80" keywordseo="adia" source="Orion">ADIA</keyword>), taking total funding to $393 million and valuation to $1.7 billion. The company said it will use the funds to boost product innovation and technology to support its rapid growth and expanding customer base. "In a span of just 3 years, we have scaled to over 10 million customers and over 100 cities across 10 states," said <keyword id="7948689" type="General" weightage="20" keywordseo="vineet-rao" source="Orion">Vineet Rao</keyword>, Founder and CEO of DealShare. DealShare offers low-priced essentials coupled with a gamified, fun-filled, and virality-driven shopping experience, making it easy for first-time internet users to experience online shopping. The company will use funds to build teams across the country and hire new tech talent at all levels. "India's e-commerce ecosystem is developing rapidly, and DealShare is addressing an underserved and growing segment within it," said <keyword id="13195199" type="General" weightage="20" keywordseo="hamad-shahwan-al-dhaheri" source="Orion">Hamad Shahwan Al Dhaheri</keyword>, Executive Director of the Private Equities Department at ADIA. DealShare previously announced $165 million of funding in Series E from <keyword id="526777" type="General" weightage="20" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, Alpha Wave Global, Dragoneer Investments Group, Kora Capital and Unilever Ventures. DealShare is set to reach $1 billion of gross revenue run rate within just three years in operation. "We are likely to hit $3 billion of gross revenue run rate in the next 12 months," said Sourjyendu Medda, Founder and Chief Business Officer. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/npci-to-deploy-upi-in-nepal-first-country-outside-india/articleshow/89641194.cms">NPCI to deploy UPI in Nepal, first country outside India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-2-5g-oneplus-tv-y1s-y1s-edge-to-launch-in-india-today-heres-how-to-catch-the-livestream/articleshow/89636431.cms">OnePlus Nord CE 2 5G, OnePlus TV Y1S &amp; Y1S Edge to launch in India today – here’s how to catch the livestream</a>

Social e-commerce platform DealShare raises $45 million from ADIA

<ul><li></li><li><ul><li>Shopsy will enable Indians to start their own businesses without any additional investors.</li><li>The user will earn commissions on every order they place on the customer’s behalf. </li><li><keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> started experimenting with social commerce last year on its 2Gud platform.</li></ul></li></ul>E-commerce giant Flipkart has forayed into the rising social commerce segment with the launch of Shopsy on Thursday. The latest platform will enable Indians to start their own businesses without any additional investors, the Walmart-owned company said. “With the ability to influence their local network and fulfill their aspirations, users of Shopsy will be able to share catalogues of a wide selection of 15 crore products offered by Flipkart sellers,” the company said in a statement. The catalogue will include products across fashion, beauty, mobiles, electronics and home among others. Users can register on the Shopsy app using their phone numbers and start earning by sharing their handpicked catalogue with their network. The user will earn commissions on every order they place on the customer’s behalf. The commission percentage will vary depending on the category of products being ordered. This is not the first time Flipkart has experimented with its social commerce play. Last July, the company had started experimenting with video commerce as well, with its refurbished goods platform 2Gud. 2GudSocial (social.2Gud.com), which is no longer accessible, was live for mobile phones around the same time last year. It allowed content creators to make short videos to sell certain products ranging from fashion, retail, mobile, electronics and accessories. The launch of Shopsy has put Flipkart’s platform in a full circle, which not only allows sellers to sell online, but allows customers to promote their favourite product and earn through it. This is also the biggest entry into the <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> social commerce segment, which is currently led by six-year-old Meesho. Other big players in the market were founded only two-three years ago. Meesho leads the segment with over <a href="https://www.businessinsider.in/advertising/brands/article/meesho-the-latest-company-to-join-the-unicorn-club-aims-to-build-a-single-ecosystem-to-help-smbs/articleshow/81953840.cms">$515 million</a> in funding raised to date and is valued at $2.1 billion. It claims to have over 12 million individual entrepreneurs on the platform selling to over 45 million customers. It also claims to have over 100,000 registered suppliers in 26,000 pincodes. It is followed by <keyword id="7412577" type="COMPANY" weightage="20" keywordseo="DealShare">DealShare</keyword> that has raised $144 million to date and claims to serve over 25,000 orders a day. CityMall, which raised<a href="https://www.businessinsider.in/business/startups/news/citymall-a-startup-that-helps-budding-entrepreneurs-start-their-ventures-on-whatsapp-has-raised-over-22-million/articleshow/83741383.cms"> $22 million </a>last month, claims to have a network of 20,000 community leaders catering to 200,000 customers. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/swiggy-coo-vivek-sunder-will-be-exiting-the-company-by-october/articleshow/84010468.cms" data-type="tilCustomLink">Swiggy COO Vivek Sunder will be exiting the company by October, CEO Sriharsha Majety may take over</a> <a href="https://www.businessinsider.in/business/startups/news/bhavna-suresh-has-closed-indias-largest-seed-round-for-her-nine-month-old-startup-10club/articleshow/83978841.cms" data-type="tilCustomLink">Meet Bhavna Suresh ⁠— a serial entrepreneur who just raised $40 million in seed funding for her startup 10club</a> <a href="https://www.businessinsider.in/tech/apps/news/one-year-of-chinese-apps-ban-indian-alternatives-take-over-tiktok/articleshow/83943865.cms" data-type="tilCustomLink">One year of Chinese apps ban — Indian alternatives take over TikTok</a>

You can now make money from Flipkart by recommending your favourite products

<ul><li>As more people stay confined to their homes due to the nationwide lockdown, the demand of essentials and their online supply increased significantly. </li><li>According to <keyword id="203878" type="PERSON" weightage="20" keywordseo="Ajay-Shah">Ajay Shah</keyword>, VP, Recruitment at the staffing firm <keyword id="6381892" type="COMPANY" weightage="20" keywordseo="TeamLease-Services">TeamLease Services</keyword>, the sectors that are focussed on delivery of essential goods and services are most likely to witness a positive trend. </li><li>This will in turn lead to an increase in the demand for manpower and the hiring is expected to go up by 20%, says experts . </li><li>“The sectors like retail, medical supply and services, personal and healthcare, information and communication technologies and ecommerce will be the top gainers at this point,” Shah said.</li></ul>The spread of <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword> has rattled the economies, shut down businesses and stressed many employees and employers alike. However even during these dark times, a set of businesses are thriving and also expected to hire more people going ahead. E-commerce sector to have a buoyant mood On the top of this list is e-commerce. As more people stay confined to their homes due to the nationwide lockdown, demand of essentials and their online supply has increased significantly. While a few cities are stalling deliveries, many others are enabling them and expected to enable even more. According to Ajay Shah, VP, Recruitment at the staffing firm TeamLease Services, the sectors that are focussed on delivery of essential goods and services are most likely to witness a positive hiring trend. <div type="image" title="1a60d889f802ff77d3ac2da052634ebc (1)" msid="75023309" hostid="261"></div> The outbreak has impacted consumer buying patterns, especially the household essentials and basic utilities. “Consumers will become further warmed up to the concept of online buying. Consumer demand has increased by an average of 50%. On our platform, we are witnessing a 50% spike in daily average orders. In fact, our business has also grown by 60%,” <keyword id="8202829" type="PERSON" weightage="20" keywordseo="Sourjyendu-Medda">Sourjyendu Medda</keyword>, CBO and Founder of <keyword id="7412577" type="LOCATION" weightage="20" keywordseo="DealShare">DealShare</keyword>, which is providing essential services to Tier II and Tier III cities, told Business Insider. Increase in the demand for manpower This will in turn lead to an increase in the demand for manpower, like in the case of delivery agents. Medda says that hiring is expected to go up by 20% in the sector. “Even at DealShare we are planning to strengthen our talent pool by 50%, to ensure that we can cater to the needs of the consumers at this time of need. We are catering to approximately more than 10,000 consumers on a daily basis,” he said. In addition to this, the healthcare and pharmaceuticals industry is also expected to gain from the current situation. This directly impacts healthcare staff, which is at the forefront to battle and contain Coronavirus and the medical suppliers that are facilitating it. Given the current situation, India is now prioritising in-house manufacturing of pharmaceutical ingredients after Coronavirus disrupted the global supply chain — leading to shortage of drugs, face masks, ventilators and more. India said it will spend $1.3 billion for pharmaceuticals. It means money is flowing to the sector, which could increase hiring - contract and otherwise. Search for healthcare jobs increase <div type="image" title="healthcare" msid="75023334" hostid="261"></div> According to Indeed, the search for healthcare jobs is also on the rise. “As the job market slows down in the wake of a global pandemic, essential services continue to drive demand, such as in the medical and public health fields. Despite the temporary slump in the sector, healthcare continues to be one of the foremost drivers of the nation’s economic growth,” said Sashi Kumar, MD at Indeed. “The sectors like retail, medical supply and services, personal and healthcare, information and communication technologies and ecommerce will be the top gainers at this point. These will likely see a positive growth in the demand for manpower,” Shah told Business Insider. Information and communication technology leads the way The IT sector is also set to gain as most of India today is working from home, given the pandemic. In fact, shares of video conferencing platforms — <a href="https://www.businessinsider.in/international/news/zoom-founder-saw-a-77-increase-in-net-worth-amid-broad-coronavirus-led-market-declines/articleshow/75011641.cms">Zoom video</a> and Skype — are also soaring. While stocks of those with face-to-face interactions are plummeting, including automobiles and airlines. “More companies are asking their employees to work from home, believing that productivity won’t get affected — which means that this is the future of work and interaction where the companies no longer need to assemble people in places,” education entrepreneur Ronnie Screwvala said. See also: <a href="https://www.businessinsider.in/careers/news/over-136-million-jobs-are-at-risk-due-to-corona-lockdown-here-are-the-worst-hit-sectors/articleshow/74941658.cms">Over 136 million jobs are at risk due to Corona lockdown — Here are the worst-hit sectors</a> <a href="https://www.businessinsider.in/india/news/coronavirus-lockdown-in-india-list-of-essential-services-during-a-lockdown/articleshow/74761160.cms">List of essential services operational during a lockdown</a>

These three sectors can grow and even hire people despite Covid-19 crisis

<ul><li>RIL, TCS, HDFC Bank retain top spots as <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>’s most valuable companies.</li><li>India’s 500 most valuable companies have a cumulative value of ₹231 lakh crore, as per a Burgundy <keyword id="20553117" type="General" weightage="20" keywordseo="hurun" source="keywords">Hurun</keyword> report.</li><li>Suzlon Energy, Jindal Stainless and JSW Infrastructure saw triple digit growth in value in the last one year. </li></ul>Reliance Industries, TCS and HDFC Bank retained their ranks as India’s most valuable companies respectively in the 2023 <keyword id="20554332" type="General" weightage="20" keywordseo="burgundy-private-hurun" source="keywords">Burgundy Private Hurun</keyword> India 500, released on Monday. The combined value of the top 10 companies remained unchanged in the last one year, at ₹73.3 lakh crore. However, the picture wasn't as rosy for the startup ecosystem. The top 10 had a mixed year, five of them seeing a robust double double digit growth in value, two of them saw single-digit growth, and three of them shed around 10% of their value. L&amp;T’s value went up by 41%, HDFC Bank’s value swelled by 35% due the merger with its parent, and ITC too saw its value swell by 24%. Notable exits &amp; big comebacks Startups, however, had a bad year with Swiggy shedding 26% of its value, Dream11’s value went down by 9.8%, and Razorpay by 8.5%. Meanwhile, in the listed space, while most new-age companies like Policybazaar, Delhivery, Zomato Paytm, saw their valuations go up, Nykaa remained an outlier as it shed 26.8% of its value. Byju’s and Pharmeasy exited the list which has a new cut off rate of ₹6,700 crore. “Startup funding and valuation continued their downward trajectory. Startups in the list cumulatively lost ₹4 lakh crore led by <keyword id="19914048" type="General" weightage="20" keywordseo="byjus" source="keywords">Byjus</keyword>, Dealshare, and Pharmeasy; which failed to make it to the list this year,” Hurun said. The unlisted universe had yet another disappointment. India’s most valuable unlisted company and Covid-19 vaccine maker Serum Institute of India saw its value decrease by 13% to ₹1.9 lakh crore. There have been many comeback stories as well amongst the top 500 companies. Suzlon Energy registered one of the highest value growth this year, as its value swelled by a remarkable 436%. Jindal Stainless’ value went up by 395% and JSW Infrastructure by 310%. “It indicates a rise in renewable energy and infrastructure development. For instance, INOX Wind, which was on the path to insolvency in 2017, registered a 450% growth in value and stormed into 2023 Burgundy Private <keyword id="20554331" type="General" weightage="20" keywordseo="hurun-india" source="keywords">Hurun India</keyword> 500,” said Anas Rahman Junaid, MD and chief researcher, of Hurun India. But, 61 new companies made their debut to the list, led by industrial products with 16 new entrants, followed by financial services with 10 new entrants. Apart from Inox Wind, freshly listed R R Kabel and Welspun Corp were the notable unlisted entrants including unicorn Incred Finance, and Bengaluru-based gaming startup Gameskraft. Jio Financial Services which recently demerged from RIL is the 28th most valuable company. Top 10 of 2023 Burgundy Private Hurun India 500 <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15,64,663 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consultancy Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,36,229 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹11,25,975 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,47,716 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,71,529 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-11.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,55,531 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,36,811 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Larsen &amp; Toubro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,02,197 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">41.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,43,211 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,41,352 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.6% </td></tr></tbody><tbody></tbody></table> 500 companies’ combined value remained flat since 2021 India’s 500 most valuable companies, which includes listed as well as unlisted companies, have a cumulative value of ₹231 lakh crore ($2.8 trillion). They went up from ₹212 lakh crore from June last year, but remained flat since 2021, the report says. “The 2023 Burgundy Private Hurun India 500 list is a strong confirmation of the Indian economy's solid performance in all sectors. The increase in new entrants from industrial goods shows India's rising manufacturing growth,” said Junaid. The combined value of the listed and unlisted companies which made it to the 2023 Burgundy Private Hurun India 500, is more than the combined GDP of Saudi Arabia, Switzerland and Singapore, the report said. “The 2023 Burgundy Private Hurun India 500 companies represent India’s economically strongest businesses. The reason is self-explanatory as these companies have a total value of $2.8 trillion, which is almost 90% of India’s current GDP, i.e. they are the backbone of India’s economy. Together, these 500 companies had combined sales of ₹79 lakh crore and employed 7 million staff, which is more than the working population of Switzerland,” Junaid said. The cut off for companies to enter the list went up by 13% to ₹6,700 crore.

Indian startups shed ₹4 lakh crore in value led by Byju's, PharmEasy & more

<ul><li>HDFC, India’s leading life insurance company has invested in ‘Z3Partners Tech Fund ’ – a tech and digital investment focused Venture Capital (VC) fund.</li><li>Z3Partners wants to build a portfolio of 8-10 companies</li><li>Z3Partners is raising ₹500 crore for the Z3 Partners Tech Fund.</li><li>The fund invests ₹35 crore –₹80 crore at the early growth stage of a digital start-up.</li></ul> HDFC Life, one of India’s leading life insurance companies, has invested in Z3Partners’ new fund named ‘Z3Partners Tech Fund’, a tech and digital investment focused Venture Capital (VC) fund. The fund will invest in and nurture tech and digital entrepreneurs in India. Z3 Partners, which is currently raising this fund of ₹500 crore, has already backed start-ups like Cyfirma, Gramophone, Shipsy, and <keyword id="14425266" type="General" weightage="20" keywordseo="true-fan" source="Orion">True-Fan</keyword>. Z3Partners was founded by Gautam Patel, whose prior investments include <keyword id="14425267" type="General" weightage="20" keywordseo="bigbasket-medgenome-ofbusiness" source="Orion">BigBasket, MedGenome, OFBusiness</keyword> and <keyword id="864887" type="General" weightage="20" keywordseo="pepperfry" source="Orion">Pepperfry</keyword>. Z3Partners invests in market-leading tech and digital start-ups. The fund announced its second close of ₹250 crore last year and is on track for the final close this year. “We are excited to have HDFC Life onboard for this journey to invest in the best tech and digital companies that are backed by world-class entrepreneurs. We believe this endeavor will translate into providing support and leadership to the Indian start-up ecosystem,” Patel said. Z3Partners has invested in the unicorn DealShare and is looking to create a portfolio of 8-10 companies in fintech. The tech fund invests ₹35 crore - ₹80 crore in the early stages of the shortlisted companies. SEE MORE: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/unacademy-shuts-down-global-test-prep-business-ceo-opts-for-a-pay-cut/articleshow/92806222.cms">Even with ₹2,800 crore in bank, we are not efficient at all: Unacademy’s Gaurav Munjal</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/indian-policy-makers-are-not-happy-that-8-out-of-10-upi-transactions-are-being-done-through-phonepe-and-google-pay/articleshow/92804434.cms">Indian policy makers are not happy that 8 out of 10 UPI transactions are being done through PhonePe and Google Pay</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tcs-tumbles-and-drags-down-to-wipro-infosys-tech-mahindra-and-ltts-with-poor-earnings/articleshow/92795039.cms">TCS tumbles and drags down to Wipro, Infosys, Tech Mahindra and LTTS with poor earnings</a>

HDFC Life invests in tech fund to support digital entrepreneurs in India

The <keyword id="20077" type="General" weightage="20" keywordseo="automobile-industry" source="Orion">automobile industry</keyword> is still not out of the woods and the Reserve Bank of India's (<keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword>) move to increase the repo-rate by 45 basis points will make vehicle loans expensive, said a top official of the Federation of Automobile Dealers Association (<keyword id="354719" type="General" weightage="80" keywordseo="fada" source="Orion">FADA</keyword>). Comparing the auto sales in April 2022 with that of April 2019 FADA President Vinkesh <keyword id="188080" type="General" weightage="80" keywordseo="gulati" source="Orion">Gulati</keyword> said the sector is still not out of the woods as overall retails were down by minus six per cent. Apart from PV (passenger vehicle) and tractors which grew handsomely by 12 per cent and 30 per cent, two/three wheelers, commercial vehicles are yet to turn green as these categories were down by minus-11 per cent, 13 per cent and 0.5 per cent, respectively, Gulati said. "The month of April (2022) saw similar Auto Retail figures as March'22. While YoY comparison with April'21 shows all categories in green with high growth rate, it is important to note that both April'21 and April'20 were affected by nation-wide lockdown due to phase 1 and 2 of the Covid wave which witnessed no to negligible business. Hence a better comparison will be with Aprila�19 which was a normal pre-covid month," Gulati said. He said the RBI's out of turn announcement of increasing repo-rate by 45 bps has taken everyone off-guard. "The move will curb excess liquidity in the system and will make auto loans expensive," he added. While the passenger vehicle segment may be able to absorb this shock due to long waiting periods, the two wheeler segment is already reeling due to an underperforming rural market, vehicle price hikes and high fuel costs. High interest rates for vehicle loan due to RBI's move will be an additional blow for this segment. Certainly, this move will slow the speed of auto retail and dampen the sentiments further, Gulati said. On the other hand, Private consumption is regaining traction backed by a recuperating contact-intensive services and rising discretionary spending. "With the Russia-Ukraine war continuing and China under lockdown, the global auto industry continues to witness supply crunch as semi-conductor shortage along with high metal prices and container shortage prevails. Customers of the PV segment hence continues to witness long waiting period," Gulati said. Referring to the Skymet's normal monsoon forecast and if the monsoon is evenly distributed there will have a positive rub-off on rural sentiment as farmers will be able to get better crop realisation thus increasing their disposable income. It will thus benefit tractor and two wheeler sales. This along with the marriage season in coming days will also see traction in auto retail. Overall, FADA changes its stance from extremely cautious to cautious in terms of slight recovery in near term. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/jio-and-airtel-introduce-new-plans-with-disney-hotstar-subscriptions/articleshow/91336737.cms">Jio and Airtel introduce new plans with Disney+ Hotstar subscriptions – price, benefits and validity</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/dealshare-is-now-on-a-lookout-to-hire-1500-employees-acquire-10-businesses-this-year/articleshow/91336481.cms">Social commerce unicorn DealShare is now on a lookout to hire 1,500 employees, acquire 10 businesses this year</a>

RBI to increase repo rate by 45 basis points making vehicle loans expensive, says FADA

<ul><li><keyword id="6354743" type="General" weightage="20" keywordseo="amazon-india" source="Orion">Amazon India</keyword> on Friday confirmed the acquisition of <keyword id="4994766" type="General" weightage="20" keywordseo="glowroad" source="Orion">GlowRoad</keyword>, a women-focused <keyword id="623994" type="General" weightage="20" keywordseo="social-commerce" source="Orion">social commerce</keyword> company.</li><li>Several media reports suggest that GlowRoad was valued at $75 million in this deal.</li><li><keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> believes that the move will help the company achieve its goal to digitise 10 million businesses by 2025.</li></ul>Amazon India on Friday confirmed the acquisition of GlowRoad, a women-focused social commerce company. This is the first investment ecommerce giant Amazon has made to grow its social commerce vertical in India. Though the transactional details of the acquisition have not been revealed, several media reports suggested that GlowRoad was valued at $75 million in this deal. TechCrunch and Economic Times<a href="https://economictimes.indiatimes.com/tech/technology/amazon-acquires-reseller-platform-glowroad-to-bolster-social-commerce-ambitions/articleshow/90987418.cms?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=update&amp;ncode=84f1fd2cbcf57e646c4069c0e7654a795cdef8eacdf35ffc12176d234712e5a50eb7dce5cc8faf0dd69e01b8210009d59aff80b374da1320677d663dcc32d94d8f2bad7f26e87c038f3aa21855862ce3"> reports </a>also suggested that Amazon acquired the company in an all-cash deal. Amazon believes that the move will help the company achieve its goal to digitise 10 million businesses by 2025. “Amazon continues to explore new ways to digitise India and delight customers, micro- entrepreneurs and sellers and bringing GlowRoad onboard is a key step in this direction. Together with GlowRoad, Amazon will help accelerate entrepreneurship among millions of creators, homemakers, students, and small sellers from across the country. This acquisition will complement GlowRoad’s already loved service with Amazon’s technology, infrastructure, and digital payments capabilities, bringing more efficiency and cost-saving for everyone,” Amazon spokesperson told Business Insider. GlowRoad was founded in 2017 by Sonal Verma, Kunal Sinha, Nitesh Pant, Shekhar Sahu and Nilesh Padariya. The founders of the company, cumulatively, held close to 50% shareholdings in the company. Founders Verma and Sinha owned a relatively larger chunk among the other founders. The company has raised over $31 million to date, from marquee investors like Korea Investment Partners, Vertex Ventures, CDH Investments and RB Investments. Accel is the largest shareholder in the company, with nearly 19% stake, according to business intelligence platform Tracxn. The five-year-old startup raised its last round in November 2020, when it raised $7 million. GlowRoad is a social commerce network, which enables suppliers to sell their products to end customers through resellers across more than 20,000 pincodes in 2,000 cities. The company focuses on Tier II and III markets through resellers, who are typically housewives, temporary workers or students. According to the company’s website, a reseller can make up to ₹20,000 per month if they sell close to 100 products a month. It claims to have over 6 million resellers on the platform. The company competes with DealShare, CityMall and YouTube-owned SimSim. Meesho too was in the segment, but the company changed its business model to a full-fledged ecommerce platform. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/sustainability/article/by-commuting-less-heres-how-employees-and-companies-contribute-to-global-climate-change-and-sustainability-goals/articleshow/90994259.cms" style="">By commuting less, here’s how employees and companies contribute to global climate change and sustainability goals </a><a href="https://www.businessinsider.in/stock-market/news/hcl-tech-paytm-nestle-tvs-motor-among-stocks-to-watch-out-for-on-april-22/slidelist/90992626.cms" data-type="tilCustomLink" style="">HCL Tech, Paytm, Nestle, TVS Motor among stocks to watch out for on April 22</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-new-upcoming-phone-in-india-oneplus-10r-5g/articleshow/90994523.cms" data-type="tilCustomLink">Here's what the upcoming OnePlus 10R 5G will look like</a>

Amazon acquires its first social commerce startup in India

After several delays, health regulators in <keyword id="6355981" type="General" weightage="20" keywordseo="England" source="Orion">England</keyword> have approved a low-dose <keyword id="8764262" type="General" weightage="100" keywordseo="covid" source="Orion">Covid</keyword> vaccine for children aged between five and 11 in April. According to scientists on the Joint Committee on Vaccination and Immunisation (JCVI), the move would help protect the "very small" number of children who become seriously ill with Covid, BBC reported. About six million children in the UK in the age group between five and 11 will be offered the jab. However, the rollout will be "non-urgent", Health Secretary Sajid Javid was quoted as saying with an emphasis on parental choice. "The NHS will prepare to extend this non-urgent offer to all children during April so parents can, if they want, take up the offer to increase protection against potential future waves of Covid-19 as we learn to live with this virus," Javid said. While the vaccine had received regulatory approval only in December, it will be rolled out in April. The roll out was delayed due to a disagreement with the UK government, which says it is "reviewing the JCVI's advice as part of wider decision-making". Javid emphasised that children are at low risk from Covid and that the "priority remains for the NHS to offer vaccines and boosters to adults and vulnerable young people and to catch-up with other childhood immunisation programmes". Two 10 microgram doses of the Pfizer/BioNTech vaccine, with at least 12 weeks between each dose, would be administered to those whose parents decide to take up the offer, the report said. Due to low risk of infection severity in children, the JCVI scientists have been weighing up the evidence for immunising five to 11-year-olds. They concluded vaccination should go ahead to prevent a "very small number of children from serious illness and hospitalisation" in a future wave of Covid, the report said. "We're offering this to five to 11-year-olds now in order to future-proof their defences against a future wave of infection," Prof Wei Shen Lim, from the JCVI, was quoted as saying. Lim suggested that parents consider getting their children vaccinated during school holidays to minimise disruption to their education from any flu-like side effects of the jab. The full guidelines also claim that fewer than two children would develop inflamed heart muscle (myocarditis) out of every million vaccinated. However, it estimates vaccinating one million children would prevent: 98 hospitalisations if the next wave was more severe like previous variants; and 17 hospitalisations if the next wave was relatively mild, like <keyword id="1609796" type="General" weightage="20" keywordseo="omicron" source="Orion">Omicron</keyword>, the report said. The <keyword id="44612" type="General" weightage="20" keywordseo="pfizer" source="Orion">Pfizer</keyword> vaccine for kids -- which contains just a third of the adult dose -- has already been used widely in other countries. The US alone has given it to eight million children in this age group. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indias-first-water-taxi-connecting-mumbai-east-coast-with-mainland-sets-sail/articleshow/89641536.cms">India's first water taxi connecting Mumbai east coast with mainland sets sail</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/social-e-commerce-platform-dealshare-raises-45-million-from-adia/articleshow/89641250.cms">Social e-commerce platform DealShare raises $45 million from ADIA</a>

England to roll out COVID-19 vaccine for kids aged between 5 to 11 in April

<ul><li><keyword id="7413619" type="UNKNOWN" weightage="20" keywordseo="mall91">Mall91</keyword>, Dealshare, CityMall, Bulbul, WMall along with the Facebook-backed <keyword id="3480589" type="PERSON" weightage="20" keywordseo="Meesho">Meesho</keyword>, have raised funds in the past few months. </li><li>Each of these startup is targeting the next 200 million consumers from smaller cities.</li><li>It all started with social media giant <keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword> investing an undisclosed amount in Meesho in June.</li></ul>The Indian <keyword id="623994" type="PERSON" weightage="20" keywordseo="social-commerce">social commerce</keyword> sector seems to be the latest ‘hot sector’ for investors. Many Indian startups – Mall91, Dealshare, CityMall, Bulbul, WMall along with the Facebook-backed Meesho, have raised funds in the last few months. Each of these startup is targeting the next 400 million consumers from smaller cities by leveraging on the expanding reach of social media platforms like Facebook and WhatsApp. With growing data penetration in India, social commerce is only set to grow. "Social commerce is basically a direct correlation to data penetration in the country. Today, everybody in Tier 2 and Tier 3 cities also has an availability of the internet. A long-time back shopping online was restricted to a certain population, today there is an exponential possibility due to the availability of the internet, everybody has access to it from every sector of the society,” said Roma Priya, Founder of Burgeon Law, a boutique law firm. Priya added that given that social commerce has a more one-on-one, viral nature is a great way for a trust deficient demographic to buy again. Funding galore Today, Mall91 has raised $7.5 million through its Series A funding round led by Go-Ventures and participation by Beenext, Kalaari Capital, AngelList India. With the latest funds, Mall91 aims to drive growth and plans to expand to other top 8 local languages of India. The company is also planning to grow its supply chain capabilities domestically and internationally. It all started with social media giant Facebook investing an undisclosed amount in Meesho in June. Meesho is a marketplace for resellers, and connects them with customers via social media channels like WhatsApp and Facebook. “With this investment in Meesho, we want to fuel a business model that can result in rapid job creation and the rise of a female entrepreneurial class in India," Facebook India head Ajit Mohan had then said in an <a href="https://www.livemint.com/companies/start-ups/facebook-invests-in-bengaluru-based-meesho-1560427873327.html">interview.</a> This was followed by Dealshare which raised $11 million from Matrix Partners, Falcon Edge Capital and others. Meanwhile, barely one year old social e-commerce platform CityMall which operates in local languages-- raised an undisclosed amount from Jitendra Gupta of Citrus Pay, Alvin Tse of Xiaomi, Manish Vij and Harish Bahl from Smile Group, Rishab Malik ex-co-founder of Droom, Rajesh Sawhney of GSF and M&amp;S Partners. In May 2019. Bulbul, which is a live social commerce app, raised $5 million in a round that was led by Sequoia. It is also a part of Sequoia’s accelerator programme. See also: <a href="https://www.businessinsider.in/facebook-invests-in-indian-startup-meesho/articleshow/69782285.cms">Facebook invests in Meesho showing that it will enter online e-commerce sooner than later</a>

Social commerce is the latest investor favourite as they target India’s next 400 million users

<ul><li><keyword id="7413620" type="UNKNOWN" weightage="20" keywordseo="simsim">simsim</keyword> will continue to work independently as a separate entity even after the acquisition.</li><li>It has raised about $15.5 million to date from Accel, Shunwei Capital and Good Capital.</li><li>The Indian social commerce segment is really hot at the moment, with the entry of Tiger Global and SoftBank.</li></ul>US-based search giant Google’s video streaming platform <keyword id="10879" type="CITY" weightage="20" keywordseo="YouTube">YouTube</keyword> has announced the acquisition of Indian <keyword id="9674678" type="UNKNOWN" weightage="20" keywordseo="Video-Commerce">video commerce</keyword> platform simsim on Tuesday, July 20. The firms have not disclosed any financial details of the deal. simsim -- founded by Amit Bagaria, Kunal Suri, and Saurabh Vashishtha in June 2019 -- is an e-commerce platform that helps small businesses transaction to the digital economy using videos and content creation. The company connects local businesses, influencers and customers. “We started simsim with the mission of helping users across India shop online with ease, enabled through small sellers and brands showcasing and selling their products using the power of content by trusted influencers. Being a part of the YouTube and Google ecosystem furthers simsim in its mission,” the company’s co-founders said in a joint statement. simsim will continue to work independently as a separate entity even after the acquisition. YouTube, however, is now finding ways to showcase simsim offers to its viewers. “For over 15 years, small businesses have used YouTube to expand their presence online -- and many of them use YouTube to reach customers outside of their local community, from<a href="https://www.youtube.com/c/KAMSDESIGNERZONE/about"> Interior</a><a href="https://www.youtube.com/c/InteriorMaata/about"> Designers</a> to<a href="https://www.youtube.com/c/PrashantiHQ/featured"> Silk Saree sellers</a>. By bringing simsim and YouTube together, our goal is to help small businesses and retailers in India reach new customers in even more powerful ways,” Gautam Anand, vice president of YouTube Asia Pacific, said in a <a href="https://india.googleblog.com/2021/07/helping-viewers-discover-and-buy.html">blog post</a>. simsim has raised about $15.5 million to date from marquee investors like Accel, Xiaomi’s Shunwei Capital and Good Capital. The India social commerce segment is really hot at the moment, especially after the entry of Meesho in the unicorn club in April 2021. A unicorn, in startup parlance, is a private firm valued at or more than $1 billion. Earlier this month, DealShare announced a $144<a href="https://www.businessinsider.in/business/startups/news/social-commerce-startup-dealshare-raises-144-million-from-tiger-global/articleshow/84227890.cms"> million </a>funding round led by Tiger Global and co-led by WestBridge Capital, Alpha Wave Incubation and Z3Partners. In June, CityMall raised a $22<a href="https://www.businessinsider.in/business/startups/news/citymall-a-startup-that-helps-budding-entrepreneurs-start-their-ventures-on-whatsapp-has-raised-over-22-million/articleshow/83741383.cms"> million</a> funding round led by General Catalyst and Jungle Ventures, with participation from existing investors Accel, Elevation Capital (formerly known as SAIF Partners) and WaterBridge Ventures. Meesho, on the other hand, has raised $515 million to date from SoftBank, Facebook and others. The company had raised<a href="https://www.businessinsider.in/business/startups/news/facebook-backed-meesho-raises-300-million-from-softbank-vision-fund-2-valuation-jumps-to-over-2-billion/amp_articleshow/81907721.cms?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts"> $300 million</a> at a valuation of $2 billion. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/india-has-added-36191-new-companies-between-april-to-june-this-year/articleshow/84575166.cms">India added almost double the number of new businesses in the last three months compared to same time last year, while India was mostly under lockdown</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/jeff-bezos-intimate-messages-data-from-drug-cartels-adnan-kashoggi-the-many-things-pegasus-is-suspected-of-hacking-before-whatsapp/articleshow/71849602.cms">Jeff Bezos’ intimate messages, data from drug cartels, Jamal Kashoggi — the many things Pegasus is suspected of hacking instead of terrorists and criminals</a>

You Searched For "DealShare" and got 11 results

Social commerce unicorn DealShare is now on a lookout to hire 1,500 employees, acquire 10 businesses this year

Kritti Bhalla

Social e-commerce platform DealShare raises $45 million from ADIA

IANS

You can now make money from Flipkart by recommending your favourite products

Kritti Bhalla

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