Latest news with #InfoEdge
Entrepreneur
20 hours ago
- Business
- Entrepreneur
Udaan Acquires ShopKirana in USD 88.5 Mn All-Stock Deal
Founded in 2015, Shopkirana has received significant investments, raising over USD 50 million from investors such as Info Edge, Sixth Sense Ventures, and the Oman India Joint Investment Fund, among others. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. B2B e-commerce platform Udaan has made a significant move in the grocery commerce sector by acquiring Shopkirana in an all-stock deal. This marks a major consolidation in the industry, highlighting the ongoing shifts within the grocery e-commerce space. As per regulatory filings, the deal has been approved by the board of Info Edge, which holds a 26.14% stake in Shopkirana through its wholly-owned subsidiary Startup Investments Holding Ltd (SIHL). The stake has been transferred to Hiveloop Technology Pvt Ltd (HEPL), a subsidiary of Trustroot Internet, Udaan's parent company based in Singapore. In return for its stake, Info Edge will receive 1.68 crore shares of Hiveloop Technology, which translates to about 0.91% of HEPL on a fully diluted basis. These shares are linked to 73,561 reference shares of Udaan's parent company, valued at approximately USD 23.13 million. The swap suggests that Shopkirana's total enterprise value is around USD 88.5 million, based on the value of Info Edge's minority stake. However, the transaction remains subject to customary closing conditions outlined in the agreement. Entrackr's analysis points out that Shopkirana will secure a 3.48% stake in Udaan's Indian business, based on Info Edge's holding in the Indian entity of Udaan. Founded in 2015, Shopkirana has received significant investments, raising over USD 50 million from investors such as Info Edge, Sixth Sense Ventures, and the Oman India Joint Investment Fund, among others. Shopkirana has carved out a niche by focusing on the digitisation of procurement for kirana stores in smaller cities like Indore, Bhopal, Surat, and Agra. The integration with Udaan is expected to expand the latter's reach in fast-moving consumer goods (FMCG) and the hotel, restaurant, and catering (HoReCa) business. In the fiscal year ending March 2024, Shopkirana's revenue fell by 6.26%, from INR 681.81 crore in FY23 to INR 639.16 crore in FY24. However, the company managed to reduce its losses by 30%, bringing them down to INR 55 crore in FY24. The results for FY25 are yet to be reported. This acquisition signals the increasing investor fatigue and challenges within the grocery commerce space. Many firms have struggled to turn a profit, despite the large scale of the market. For Shopkirana, this move could be seen as an effort to position itself for acquisition by controlling costs, although this has affected topline growth. For Udaan, the stock swap offers a relatively low-risk acquisition as it continues its push to reduce EBITDA losses and hopes for future upside.
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Business Standard
4 days ago
- Business
- Business Standard
Udaan acquires retail technology startup ShopKirana ahead of IPO
Business-to-business e-commerce firm Udaan acquired retail technology startup ShopKirana in an all-stock transaction, bringing internet company Info Edge into Udaan's shareholder base as consolidation accelerates in the country's digital commerce sector. The deal combines Udaan, which connects small retailers with suppliers, with ShopKirana, a platform that helps neighbourhood stores manage inventory and operations. Financial terms weren't disclosed, and the transaction requires regulatory approval. However, in a letter to the National Stock Exchange of India Limited, Info Edge has valued the transaction at $23.13 million. 'This acquisition is a strategic milestone in our journey to the IPO and beyond,' said Vaibhav Gupta, co-founder and CEO, Udaan. 'With the combined strength of both organisations and a strong leadership team, we are well-positioned to deliver on our agenda of 'growth with profitability at scale'.' The acquisition will complement Udaan's leadership across core categories, including staples, fast-moving consumer goods (FMCG), and hotel, restaurant, and catering (HoReCa). ShopKirana and Udaan's integration aims to boost efficiency, expand reach, and add value through combined FMCG expertise, tech, and supply chain strengths. This combination will further accelerate Udaan's profitability journey by scaling high-turnover categories. It would also help improve operating leverage and deliver differentiated value through data-driven logistics and infrastructure. 'Together, we will unlock growth across existing and emerging markets while delivering superior value to buyers, sellers, and consumers,' said Sumit Ghorawat, co-founder, ShopKirana. 'We continue to work towards our shared vision of building a large, future-ready GTM (go-to-market) retail superpower,' he noted. The latest acquisition follows the successful closure of Udaan's $114 million Series G fundraise, led by M&G Investments and Lightspeed. The capital will strengthen category leadership in FMCG and HoReCa, expand into new markets, and boost efficiency through scale sourcing, supply chain optimisation, and cost control. 'This strategic consolidation is an important step forward in Udaan's journey towards consolidating the eB2B market, driving profitability with sustained growth, and strengthening the value proposition for retailers and brands,' said Bejul Somaia, partner, Lightspeed. Kitty Agarwal, Partner, InfoEdge Ventures, noted that the merger marks a significant step towards consolidating the leadership position of the combined Udaan-ShopKirana entity in the sector. 'We're looking forward to the journey ahead as the combined team executes its strategic roadmap with a path toward an IPO in India in the next two years.' Founded in 2015, ShopKirana has enabled thousands of kirana stores through digital procurement, transparent pricing, and efficient last-mile delivery. With a strong footprint in Tier 2 and Tier 3 cities such as Indore, Bhopal, Lucknow, Agra, Surat, and Meerut, ShopKirana complements Udaan's national market presence. Experts said the acquisition reflects increasing consolidation among Indian e-commerce companies as they seek profitable growth after years of cash-burning expansion. Udaan said it continues to demonstrate strong contribution margin accretive growth, clocking over 60 per cent year-on-year growth in CY 2024. Alongside the contribution margin growth and scale operating leverage, Udaan also reduced its fixed costs by 20 per cent, leading to a 40 per cent reduction in EBITDA burn in calendar year CY 2024 and an additional 20 per cent reduction year-to-date in CY 2025.
Business Upturn
4 days ago
- Business
- Business Upturn
Info Edge to sell Shopkirana stake to Hiveloop E-Commerce for USD 23.13 million
Info Edge has announced that its board has approved a deal to transfer its entire 26.14% stake in Shopkirana E-Trading Private Limited—held through its wholly owned subsidiary, Startup Investments (Holding) Limited (SIHL)—to Hiveloop ECommerce Private Limited (HEPL), an Indian subsidiary of Udaan (Trustroot Internet Pvt Ltd). As part of the agreement, SIHL will receive 1,68,70,568 shares in HEPL, which equates to a 0.91% stake on a fully diluted basis. These shares will carry economic rights linked to 73,561 reference shares in TIPL (Udaan's Singapore parent), reflecting a notional value of around USD 23.13 million and an effective reference stake of about 1.48% at the TIPL level. The transfer will take place once various conditions precedent, as outlined in the definitive agreements, are met. Completion is expected by October 31, 2025, unless mutually extended. Following the transaction, Shopkirana will cease to be an associate company of Info Edge. Shopkirana contributed ₹471 crore in income (15.88% of Info Edge's total standalone revenue) and ₹23 crore in net worth (0.34%) in FY25. The buyer, HEPL, is not related to Info Edge's promoter group, and the transaction does not qualify as a related party transaction. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Standard
07-07-2025
- Business
- Business Standard
Info Edge records 11% YoY surge in Q1 standalone billings to Rs 644 crore
Info Edge (India) reported an 11.18% year-on-year increase in standalone billings to Rs 644.2 crore for the quarter ended 30 June 2025, compared with Rs 579.4 crore recorded in the same period last year. The standalone billings for the recruitment solutions segment stood at Rs 470.3 crore (up 9.01% YoY), while the real estate segment (99acres) saw billings of Rs 94.4 crore (up 16.54% YoY). Additionally, Rs 79.5 crore (up 18.65% YoY) came from other business segments. Info Edge (India) is among the leading internet companies in India. The company runs leading internet businesses, viz., and The company also owns Quadrangle and Naukri Gulf. It has made significant strategic investments such as and happily etc. The company reported a 667.3% increase in standalone net profit to Rs 463.39 crore on 14% rise in revenue from operations to Rs 749.63 crore in Q4 FY25 over Q4 FY24. Shares of Info Edge tumbled 4.65% to Rs 1,416.80 on the BSE.
Fashion Value Chain
07-07-2025
- Business
- Fashion Value Chain
Aisle Founder Launches Heyyy – A Link-in-Bio Social Network
Jamm Labs, the company behind community-first social innovations announces the launch of Heyyy, a first-of-its-kind link-in-bio social network that transforms static social profiles into active, intent-driven spaces for real-world connection. Founded by Able Joseph, the creator of Aisle – India's leading dating app later acquired by InfoEdge, designed Heyyy to help users turn their online presence into meaningful opportunities. Whether you are looking for a roommate, co-founder, collaborators, or simply sharing passion projects, Heyyy bridges the gap between visibility and genuine connection. Heyyy – A Link-in-Bio Social Network Unlike traditional platforms that prioritize content, Heyyy is built around context. Through its innovative Contextual DMs, users can state their intent clearly, whether on hiring, selling, planning something, or just looking to connect. Every message comes with built-in context, eliminating awkward introductions and making conversations feel more natural and purposeful. Heyyy also enables offline connection through its built-in event tools, making it easy to host house parties, meetups, gigs, or spontaneous gatherings. The platform simplifies planning with features like attendee management, chat, and privacy controls, all within one space. Users can also showcase who they are and what they are working on through shareable links, portfolios, and project pages – all housed in one sleek profile. Once a Heyyy profile is live, users can share it across Instagram, X, LinkedIn, or any platform of choice. Followers are notified in real time when new links, updates, or events are posted, making engagement timely and relevant. 'Heyyy turns social media visitors into collaborators, clients, teammates, or friends. We didn't build it for attention – we built it for action. It's for people who want to create momentum in life, whether that's through creativity, community, or a spontaneous plan,' said Able Joseph, Founder of Jamm Labs. Heyyy is now available on the App Store and Play Store. Users can claim their link-in-bio, customise their profile, and start turning followers into a connected, active community. About Jamm Labs Jamm Labs is a Bangalore-based startup focused on building social products rooted in intention and community. Founded by Able Joseph, Jamm Labs is behind platforms like Jamm – a social health tech app for oï¬ine group plans – and Heyyy, its latest launch focused on turning context into connection.
