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Indian startups diversify their businesses to offset COVID-19 induced losses

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E-commerce giant Flipkart is planning to launch a hyperlocal service that would enable customers to buy items from local stores and have those delivered to them in an hour and a half or less. Yatra, an online travel and hotel ticketing service, is exploring a new business line altogether: Supplying office accessories. Flipkart and Yatra …

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Singapore’s Qoo10 acquires Indian online marketplace ShopClues

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Qoo10, a Singapore-based e-commerce firm, has acquired India’s online marketplace ShopClues in an all-stock deal, the two companies said Thursday. The deal, which per two people familiar with the matter valued ShopClues between $50 million and $80 million, ends years-long struggle at the Indian firm, which was valued at $1.1 billion in 2016, to find …

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