Cashback news today as a decided VC flavor starting with a new report from Grant Thornton India which reports August 2015 VC investment at more than $1.7 billion. Backed by Ardent Capital, new Snapcart retail app launches in Indonesia. New cashback e-commerce “unicorns“, with one billion-dollar plus evaluations, include VC darlings Flipkart and Snapdeal in India.
Can Jet.com compete with Amazon even with $200 million in fresh VC funding? CBInsights says 2015 global VC financing may top $120 billion, up 35% from last year.
India: Private equity deals more than doubled in August
Private equity deals surged 228% in terms of value in August, led by large e-commerce deals, according to Grant Thornton India Llps monthly deal tracker. The month saw $1.7 billion worth of deals (across 102 transactions) being closed, compared to $526 million worth of deals (across 48 transactions) in August last year.
Year to date, PE deal activity has seen a jump of almost 46% to $10.9 billion (across 675 deals) as compared to $7.4 billion in deal activity (across 388 deals) in the previous year. Read more…
Newly launched Indonesian app Snapcart wants you to shop…and get cashback
Backed by Ardent Capital, Snapcart helps users receive cashback for their purchases, while giving brands invaluable insight into consumer behaviour. Snapcart says it is the first mobile application in Indonesia that allows users to get cashback from every receipt that they upload into the app. Users get to see a list of promoted products before they take pictures of the receipt and submit it to Snapcart. After a verification process — that may take one-two days — the cash will be transferred directly into the users’ bank account.
The app also allows users to get extra points by filling out surveys and taking selfies with their purchases. It has seen 12,000 pre-launch downloads, according to an official statement. Read more…
The ‘Unicorn’ Club, Now Admitting New Members
One hallmark of the current technology boom is a generation of start-ups valued at $1 billion or more by investors. Now meet the start-ups-in-waiting that may be next to reach that mark, if the white-hot market continues.
The $1 billion valuation metric was popularized two years ago by the venture investor Aileen Lee. She found that many of the start-ups that reaped the hugest riches for venture capital investors — Facebook and LinkedIn, for example — often reached a valuation of $1 billion or more while they were privately held. Because of their rarity, Ms. Lee called those companies “unicorns,” after the mythical creatures. Read more…
Investors have poured more than $220 million into this man’s plan to beat Amazon
By the numbers, the hot new ecommerce startup Jet.com could make tech market bears pretty nervous. In an audacious push to take on Amazon, it has raised $225 million at a $600 million valuation. That’s the most equity funding ever raised in the first 12 months by a US commerce company, ranking Jet atop a list that’s otherwise entirely composed of startups from the late 90s tech boom. Read more…
Global Funding Trends: This Year on Track for $120B to VC-Backed Companies and 35% Growth
VC-backed companies continue to raise more money, with the first half of 2015 seeing nearly $60B invested across more than 3,500 deals. This puts the year on track to hit nearly $120B worth of investment, growth of 35% from last year’s already record-high funding total of $88.3B. However, deals have not followed the same growth, with 2015 on track to be the first year without deal growth since 2011. This suggests that deals are getting larger, which is evidenced by the increasing presence of $100M financings. Read more…
Snapdeal raises nearly $500 million from Alibaba, Foxconn, Softbank
Online marketplace Snapdeal has raised $500 million (about Rs 3,269 crore) in a fresh round of funding from a clutch of investors led by Alibaba Group, Foxconn and SoftBank.
Existing investors Temasek, BlackRock, Myriad and Premji Invest also participated in the latest funding round, Snapdeal said. As per market estimates, the new round would value the city-based firm at about $4-5 billion. Read more…
So far, the appetite for VC investment in e-commerce around the world seems unlimited whether it’s India, China, the US or developing markets in SE Asia and Latin America.
You can learn more about the global cashback industry, including important VC financing in every major market, as reported in the 2015 Cashback Industry Report.
More news next Monday. Enjoy your weekend!