Category Archives: Doing Business

Why Flipkart is raising so much money

When top online retailer Flipkart raised $200 million in July, it was asked a pertinent question: Why did the company go to its existing investors rather than new ones? While Flipkart pointed out that the move showed confidence of the current investors in the company’s future, rivals and analysts argued it was a decision made due to lack of options. “Existing investors were finding it tough to exit, so they decided to re-invest.” Three months down the line when Flipkart went to the market again to raise $160 million, it faced a new question: “Why does it need funds so soon?”

To that, Sachin Bansal, chief executive and co-founder of the company, says the money had to be raised for “technology and supply-chain expansion to reach more and more people”, adding that these are long-term goals. The company has notched up a total of $540 million in funds over the last six years, $360 million of which has flowed in two tranches this year itself.

More at Business Standard

Silicon Alley’s First Billionaire Aims To Dominate Images On Web

Jon Oringer marches along the gutted 21st floor of the Empire State Building and ducks out a window onto a deck to pose for a magazine shoot, snapping his own photos as the photographer snaps photos of him. Starting this winter, the entire floor (and an identical one below it) will play home to Shutterstock SSTK -2.07%, Oringer’s 295-person photo website whose shares have more than tripled to a $2.5 billion market value since their debut on the NYSE last October.

It’s an appropriate headquarters for New York’s first tech billionaire ($1.3 billion, to be exact) as he looks to ride the proliferation of screens, smartphones and bandwidth to turn Shutterstock into the world’s largest marketplace for buying and selling images. Right now that title belongs to the Carlyle Group-owned Getty Images, but over the last few months Oringer, 39, has inked a deal with Facebook FB -0.76% for its advertisers, launched offerings of high-end photography and raised $276 million in a secondary offering–all while expanding and simplifying his library of 25 million images and a million videos searchable in 20 languages. What began ten years ago with one $1,000 Canon Rebel and a 600-square-foot office has exploded into a platform that adds 20,000 new photos a day from 40,000 contributors in more than 100 nations.

Click here for complete article at Forbes.com

Rahul Dravid: A lotus in cricket’s contaminated pond

He scored one run in the final, even as his team lost to the superstars, proving that fairy tales exist only in story books. He was blamed by few for having come in to bat too late, at No 8, to help his team’s cause, who were up against a mammoth total of 202. He took whatever criticism he copped in his stride, like he had done his entire career. While the opposition team celebrated their win and lifted the “God” on their shoulders for the victory lap, he sombrely slipped away after the handshakes, never to be seen on the cricket field again.

He got the applause from the crowd, but nothing compared to his counterpart. He did not mind it. He was no God. He was no Sachin Tendulkar. He was Rahul Dravid.

More at cricketcounty.com