Fingerlix said it will utilise the fresh capital to accelerate its growth strategy and also to expand into newer geographies of Bengaluru, Hyderabad & Chennai while expanding its footprint within the NCR.
After turning down Flipkart's $900-950 million offer earlier this week, the e-commerce firm has started working on its new roadmap which it calls 'Snapdeal 2.0'.
Kunal Bahl wrote to employees seeking to assuage concerns saying Axis Bank intends to not just retain all Freecharge employees but also "invest significantly" in the team and brand.
The price paid by Axis Bank for the acquisition -- which will help it double the customer base and address the digitally savvy people -- is also higher than what was reportedly offered by other suitors.
Slack is raising the fresh funding at a valuation of slightly more than $5 billion, people familiar with the matter said, a step up from its previous $3.8 billion valuation.
Union Labour Minister Bandaru Dattatreya said the government has launched Atal Pension Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana for all citizens.
The homegrown e-commerce player plans to launch the grocery service shortly, Anil Goteti head of marketplace, Flipkart told reporters without giving any timeframe for the launch.
Reuters previously reported that Snapdeal had earlier this month rejected Flipkart's initial bid of between $800 million and $850 million, as its board was unsatisfied with the offer and the payment terms.
Uber has been facing a number of setbacks, including accusations of a sexist work culture and driver protests, that culminated in the departure of co-founder and Chief Executive Travis Kalanick last month.
Shamik Sharma was vice president of software at Lytro, a light field camera start-up in the US, and held executive roles in RockYou, StumbleUpon and Yahoo.
The fresh infusion -- part of Amazon's $5 billion commitment to Indian market -- will also provide more arsenal to the Indian entity that is locked in an intense battle for leadership with local rival, Flipkart.
According to sources privy to the development, Flipkart has completed the due diligence process and has made an offer of $800-850 million to buy Snapdeal.
