<ul><li>Customer engagement platform <keyword id="2970390" type="PERSON" weightage="20" keywordseo="MoEngage">MoEngage</keyword> is planning to go big on international expansion in the one year.</li><li>MoEngage recently closed a $32 million funding round led by Multiples Alternate Asset Management.</li><li>A part of the funding will be used to set up an R&amp;D center in Hyderabad due to the talent pool crunch in Bengaluru.</li></ul>MoEngage, which helps companies like Domino's engage with their customers, is planning to go big on international expansion in the one year.<br /><br />It has already set up local offices in the UK, Germany and Vietnam over the last one year, and cities like New York and Boston are next in line. <br /><br />The company aims to touch annual recurring revenue (ARR) of $100 million in the next three years, by 2024. Though MoEngage did not share their current ARR, the company claimed that it is higher than $20 million. This would mean that the company is looking to expand five fold in the next three years.<br /><br />The company has also decided to set up another research and development (R&amp;D) center in Hyderabad, MoEngage’s chief executive officer (CEO) Raviteja Dodda said in an exclusive interaction with Business Insider. Currently, it has one R&amp;D center in Bengaluru. <br /><br />These R&amp;D centers are like the backend of any software-as-a-service (SaaS) company, where the products are actually developed and designed. <br /><br />Several SaaS companies even if they cater to customers in the western market, set up R&amp;D centers in India due to the massive talent pool and cheap workforce. Some prominent examples are Freshworks, Zoho Corp and Browserstack. <br /><br />“New office in Hyderabad is to expand the talent pool. Hiring is a big problem right now, across every company. And if you are based in Bengaluru, it's even a bigger problem to hire people. So we are expanding our talent pools that we target,” Dodda said.<br /><br />MoEngage’s four step international expansion strategies<br /><table class="redcator-table-advance" style="border-width: initial; border-style: none;"><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;">Plan</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;">Strategy</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;">Stronger Marketing<br /><br /></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;">Building a sales and marketing flywheel to get more customers on board. <br /><br /></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;">Building stronger communities<br /><br /></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;">Investing more in #GROWTH, a peer-to-peer learning community that hosts invite-only events to learn best growth practices from each other.<br /><br /></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;">Product Innovation<br /><br /></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;">Investing in artificial intelligence (AI) driven insights to help its customers design better market campaigns for themselves.<br /><br /></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;">Going Local<br /><br /></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;">Building local teams in each function and market to offer better services to its customers.<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><strong>MoEngage’s aggressive international expansion, comes with aggressive hiring</strong><br /><br />MoEngage — which was founded by IIT Kharagpur alumnus Raviteja Dodda and Yashwanth Kumar — plans to hire over 150 employees across verticals and functions in the next 12-18 months, by the end of 2022. This is in addition to 120 employees hired across vertices in the last seven months. MoEnagange currently has a team of 375 employees.<br /><br />Key hires in last 12 months<br /><table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><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;">Hires<br /><br /></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;">Designation<br /><br /></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;">Meagan White <br /><br /></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;">Senior Director of Marketing for North America<br /><br /></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;">Shalini Devji-Jethwa<br /><br /></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;">Director of Marketing for Europe<br /><br /></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;">Avijit Nanda<br /><br /></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;">Director, Product Management <br /><br /></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;">Roshan Hadal<br /><br /></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;"> Director, Engineering<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>For international markets, MoEngage has focused on hiring for sales, marketing and customer acquisition teams. Whereas Indian hiring has largely focused on product, engineering and other functions. Though the company hasn’t put a number on how many people it plans to hire for its Hyderabad R&amp;D office, it can be expected to be higher than 20. <br /><br />The Bengaluru and San Francisco-based startup would also be looking at acquisitions in the next two to three years to expand its product range and distribution channels. “It will be either for distribution in markets where we want to expand in or products which are complementary to what we do and can add value for our customers,” Dodda added.<br /><br /><strong>Closing 2021 with another 200 customers</strong><br /><br />MoEngage startup recently closed a $32.5 million funding round led by Multiples Alternate Asset Management to aid its ambitious international plans. Overall, the seven-year-old startup has raised over $73.3 million since its inception. <br /><br />The company has a user base of 1000 customers, of which 250 were on boarded in the last one year.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><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;">Customer<br /><br /></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;">Country<br /><br /></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;">Byju’s, Westside, Flipkart, Nestle<br /><br /></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;">India<br /><br /></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;">Mobile telecommunications company XL Axiata<br /><br /></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;">Indonesia<br /><br /></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;">Telekom Malaysia, CIMB Bank<br /><br /></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;">Malaysia<br /><br /></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;">Deutsche Telekom<br /><br /></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;">Germany<br /><br /></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;">McAfee<br /><br /></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;">US<br /><br /></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;">Travelodge<br /><br /></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;">UK<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Dodda claims that they are adding over 90 customers every quarter and it expects to close this year with another 200 customers. <br /><strong><br />SEE ALSO</strong><br /><a href="https://www.businessinsider.in/business/startups/news/whitehat-jrs-ceo-karan-bajaj-quits-exactly-a-year-after-byjus-acquisition/articleshow/85029450.cms">WhiteHat Jr’s CEO Karan Bajaj quits exactly a year after Byju’s acquired the company</a><br /><a href="https://www.businessinsider.in/business/startups/news/tiger-global-pumps-enough-money-to-make-bharatpe-a-unicorn-about-a-month-after-it-got-a-banking-licence-with-centrum-as-its-partner/articleshow/85027918.cms">Tiger Global pumps enough money to make BharatPe a unicorn about a month after it got a banking licence with Centrum as its partner</a><br /><a href="https://www.businessinsider.in/business/corporates/news/adani-ports-shows-a-record-quarterly-volume-growth-while-the-shares-have-already-run-up-over-7-in-last-5-days/articleshow/85005554.cms">Adani Ports shows a record quarterly volume growth while the shares have already run up over 7% in last 5 days</a><br />

INTERVIEW: MoEngage, which helps companies like Domino's engage with customers, wants an office in New York and 150 techies in India

Constant innovation and a profound understanding of customer needs are crucial for maintaining relevance in the ever-evolving <keyword id="11064864" type="General" weightage="20" keywordseo="saas-industry" source="Orion">SaaS industry</keyword>. And it goes beyond just deciphering customer requests. True insight is gleaned by actively listening to their perspectives and aligning innovations with their overarching <keyword id="2422188" type="General" weightage="20" keywordseo="business-goals" source="Orion">business goals</keyword>. Raviteja Dodda, Founder and CEO of MoEngage, emphasised these principles during a compelling discussion with Jeff Klaus, Head of Worldwide ISV Strategy and Development at AWS India. This discussion is part of the <keyword id="6395918" type="General" weightage="100" keywordseo="saas" source="Orion">SaaS</keyword> Scions web series, jointly hosted by Business Insider India and AWS India. <br /><br />Dodda underscored the foresight required to anticipate how enterprise brands will leverage <keyword id="2582671" type="General" weightage="20" keywordseo="saas-products" source="Orion">SaaS products</keyword> in the next five years, stressing on the pivotal role of forward-thinking in fostering innovation and evolution within companies. This strategic approach involves meeting customers’ current needs and addressing future requirements, thus ensuring a cycle of improvement. <br /><br />The conversation delved into the significance of generative AI in enhancing customer experience and the interconnectedness between technology and innovation in the SaaS industry. Regardless of the industry, be it e-commerce, retail, or financial services, technology helps decipher consumer behaviour. By harnessing the power of AI-driven personalization and automation, enterprise companies can extract valuable insights about their customers, enabling them to craft more tailored and effective engagement approaches. <br /><br />Speaking about the importance of AI within his company, Raviteja outlined their journey – commencing with their investment in AI capabilities in 2016, just two years after the inception of their venture. They bring all engagement channels to one platform through strategic integration of AI and automation. This empowers <keyword id="2547868" type="General" weightage="20" keywordseo="consumer-brands" source="Orion">consumer brands</keyword> to guide customers through different life cycles and stages. By leveraging AI, MoEngage helps identify the optimal engagement moment for each customer and the type of content that drives high conversions, fine-tune the message cadence, and profile customers based on their propensities. <br /><br />Sharing suggestions and best practices that have helped MoEngage capture the market beyond India, Raviteja explained that they have constantly evolved their go-to-market (GTM) approach over the past nine years, especially in the SaaS landscape. Recognizing the time it takes to witness tangible results in SaaS endeavours, he emphasised the need to sow seeds in the present to drive growth in the future. <br /><br />"We have taken our GTM structure geographically and have GTM teams independently for each geography," Raviteja added. He credited their success to recruiting adept market launchers who spearhead the initial zero-to-one phase in each market, bringing seamless collaboration between sales, customer success, and marketing. <br /><br />For smaller SaaS enterprises grappling with uncertainties about initiating customer events or ensuring customer satisfaction, Raviteja advises leaping forward – underlining the direct correlation between brand awareness and accelerated growth. <br /><br />Sharing his top recommendations for others in the industry, Raviteja said that the first crucial resource is honesty about the product market fit, the right value proposition, and whether it resonates with the customer.<br /><br />"Don't be a tourist," he added. He cautioned against playing it by the ear in the initial months without a long-term plan. "Do different keywords to get up in terms of establishing the PMF, build a strong founding team, and scale it from there," Raviteja concluded.<br /><br />Raviteja's insights are a blueprint for navigating the dynamic SaaS landscape, advocating a blend of innovation, localization, and steadfast commitment to long-term goals.<br /><br /><em><strong>Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them at </strong></em><a href="mailto:insiderstudios@businessinsider.in"><em><strong>insiderstudios@businessinsider.in</strong></em></a>

From good to great: How SaaS shapes the customer engagement of tomorrow for consumer brands?

<ul><li><keyword id="1884281" type="COMPANY" weightage="20" keywordseo="AbhiBus">Abhibus</keyword> is a bus ticketing and aggregation platform founded in 2008.</li><li><keyword id="6433699" type="UNKNOWN" weightage="20" keywordseo="Ixigo">Ixigo</keyword> would get access to Abhibus’ intellectual property and operations with this acquisition.</li><li>Ixigo is planning to file preliminary papers for its IPO by mid August, to raise ₹1,500 crore. </li></ul>Online ticketing startup Le Travenues — which operates ixigo — has acquired bus ticketing and aggregation platform AbhiBus on Thursday, August 5. The development comes only a week after ixigo raised $53 million in a round led by Singapore’s sovereign fund GIC. <br /><br />The acquisition will help ixigo expand its footprint in the online ticketing segment, as it gets ready to go public. According to sources within the company, ixigo is planning to file its preliminary paperwork draft red herring prospectus (DRHP) by mid August, to raise ₹1,200 crore to ₹1,5000 crore from the public market.<br /><br />Earlier this week, the Gurugram-based startup also converted itself into a<a href="https://www.businessinsider.in/business/startups/news/travel-portal-ixigo-moves-a-step-closer-to-ipo/articleshow/85006033.cms"> public limited company</a> to start off the initial public offering (IPO) process.<br /><br />The latest acquisition was done for a mix of cash and ixigo stock. Post this acquisition, AbhiBus team led by founder Sudhakar Reddy Chirra will join the ixigo team. Ixigo would also get access to AbhiBus’ intellectual property, brands, technology and operations with this acquisition.<br /><br />The duo claims to have a combined user base of 255 million, as of May 31, 2021.<br /><br />“By leveraging our combined user base, multi-modal transportation capabilities, tech resources and travel domain expertise we will be able to enhance the experience of millions of travellers in India every day,” Aloke Bajpai and Rajnish Kumar, cofounders of ixigo, said in a statement.<br /><br />Earlier this year, ixigo had <a href="https://www.businessinsider.in/business/startups/news/ixigo-acquires-train-discovery-and-booking-platform-confirmtxt-in-a-cash-and-stock-deal/articleshow/80685580.cms" data-type="tilCustomLink">acquired</a> train booking app Confirmtkt.<br /><br />AbhiBus was founded in 2008 by Chirra. It provides end-to-end software and bus-related services such as online ticketing system, fleet management solutions, vehicle tracking system, passenger information system and logistics management. <br /><br />The company provides its tech solutions to both private and state transportation corporations in India. It has also partnered with Indian Railway Catering and Tourism Corporation (IRCTC) to offer bus ticketing services. <br /><br />AbhiBus claims that they used to sell around 26,000 bus tickets per day in the financial year 2020, before pandemic hit India. <br /><br />SEE ALSO<br /><a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-and-tiger-global-have-a-billion-dollar-notice-to-respond-to-in-the-next-90-days/articleshow/85059732.cms">Flipkart and Tiger Global have a billion dollar notice to respond to in the next 90 days<br /></a><a href="https://www.businessinsider.in/business/startups/news/whitehat-jrs-ceo-karan-bajaj-quits-exactly-a-year-after-byjus-acquisition/articleshow/85029450.cms">WhiteHat Jr’s CEO Karan Bajaj quits exactly a year after Byju’s acquired the company</a><br /><a href="https://www.businessinsider.in/business/startups/news/moengage-wants-an-office-in-new-york-and-hire-to-150-techies-in-india/articleshow/85057941.cms">INTERVIEW: MoEngage, which helps companies like Domino's engage with customers, wants an office in New York and 150 techies in India</a><br />

IPO-bound ixigo acquires bus ticketing platform AbhiBus to strengthen its footprint

<ul><li>India’s financial investigation agency has been investigating Amazon and <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> over the years. <br /></li><li>The Enforcement Directorate issued a show-cause notice to both the companies and its founders last month.<br /></li><li>Flipkart raised a $3.6 billion round at a valuation of $37.6 billion, a two-fold increase from 2018.</li></ul>India’s Enforcement Directorate (ED) has reportedly warned Walmart-owned Flipkart and its founders — <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> and <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> — with a $1.35 billion penalty for alleged violation of the country’s foreign investment laws. <br /><br />According to a Reuters report citing sources it did not name, the financial investigation agency has alleged that after Flipkart got foreign investment, a related party, <keyword id="1556044" type="PERSON" weightage="20" keywordseo="WS-retail">WS Retail</keyword>, started selling goods to consumers via the e-commerce platform. This is prohibited under Indian law. <br /><br />ED has issued show-cause notice to both the companies and its founders last month to explain why they shouldn’t face a penalty of $1.35 billion for allegedly violating India’s foreign direct investment (FDI) policy. Tiger Global, which has been an investor in Flipkart for a decade has also been issued such a notice.<br /><br />Tiger Global declined to comment on the issue.<br /><br />A Flipkart spokesperson told Reuters, the company is "in compliance with Indian laws and regulations…We will cooperate with the authorities as they look at this issue pertaining to the period 2009-2015 as per their notice."<br /><br />One of the sources at Flipkart told Reuters that they have around 90 days to respond to the notice and WS Retail had ceased its operations at the end of 2015.<br /><br />Flipkart was acquired by <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> in 2018, after which Sachin Bansal sold off all his shareholdings but Binny Bansal continues to hold some. The company’s valuation has doubled since then, from $16 billion in 2018 to $37.6 billion now.<br /><br />Last month, the company raised a $3.6 billion round led by Singapore-based GIC, Canada Pension Plan Investment Board (CPP investments), Softbank Vision Fund 2 and Walmart.<br /><br />DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in the round. <br /><strong><br />SEE ALSO</strong><br /><a href="https://www.businessinsider.in/business/startups/news/whitehat-jrs-ceo-karan-bajaj-quits-exactly-a-year-after-byjus-acquisition/articleshow/85029450.cms">WhiteHat Jr’s CEO Karan Bajaj quits exactly a year after Byju’s acquired the company</a><br /><a href="https://www.businessinsider.in/business/startups/news/moengage-wants-an-office-in-new-york-and-hire-to-150-techies-in-india/articleshow/85057941.cms">INTERVIEW: MoEngage, which helps companies like Domino's engage with customers, wants an office in New York and 150 techies in India</a><br /><a href="https://www.businessinsider.in/business/startups/news/tiger-global-pumps-enough-money-to-make-bharatpe-a-unicorn-about-a-month-after-it-got-a-banking-licence-with-centrum-as-its-partner/articleshow/85027918.cms">Tiger Global pumps enough money to make BharatPe a unicorn about a month after it got a banking licence with Centrum as its partner</a><br /><br /><br />

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INTERVIEW: MoEngage, which helps companies like Domino's engage with customers, wants an office in New York and 150 techies in India

Kritti Bhalla

From good to great: How SaaS shapes the customer engagement of tomorrow for consumer brands?

Insider Studios

IPO-bound ixigo acquires bus ticketing platform AbhiBus to strengthen its footprint

Kritti Bhalla

Flipkart and Tiger Global have a billion dollar notice to respond to in the next 90 days

Kritti Bhalla