In Brief: Reliance may acquire Milkbasket, Urban Ladder; ShareChat looks for funds

In Brief: Reliance may acquire Milkbasket, Urban Ladder; ShareChat looks for funds
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17 Aug, 2020

Reliance Industries (RIL) may acquire online furniture brand Urban Ladder and milk delivery platform Milkbasket, the Economic Times reported. The move is in line with Reliance’s aim to strengthen its ecommerce play, the report said. Reliance is also reportedly in talks to acquire e-pharmacy startup Netmeds and lingerie retailer Zivame. TechCircle had first reported in early July that Reliance Industries backed JioMart was acquiring Gurugram headquartered micro delivery company Milkbasket As part of its push into online grocery delivery services.

 

Google may back social media platform ShareChat 

Mountain View, California-based search engine giant Google may invest in vernacular social media platform  ShareChat, according to a report by the Economic Times. ShareChat aims to score about $200 million and is holding discussions with investors and technology companies. 

Read: Google may pick up minority stake in Policybazaar

Flipkart to foray in alcohol delivery biz

Walmart-backed etailer Flipkart has inked a deal with HipBar, a startup backed by spirits giant Diageo, to deliver alcohol in two Indian states, Reuters has reported. The local governments of West Bengal and Odisha have said that Flipkart can be associated as a technology service provider of alcohol home delivery mobile application HipBar, according to the report. 

Read: Amazon, BigBasket get licenses to deliver alcohol in West Bengal

Ritesh Agarwal joins Venture Catalysts as advisor

Ritesh Agarwal, founder of hospitality major OYO has joined incubator Venture Catalysts as an advisor, to help boost entrepreneurship across tier 1, 2, and 3 cities of India. As an advisor, he is expected to offer guidance to young and early-stage founders, a statement said. 

Fintech firm Slice appoints Sudhesh Chandrasekar as CFO

Bengaluru-based Garagepreneurs Internet, which operates payments platform Slice on Monday announced that it has appointed Sudhesh Chandrasekar as its chief financial officer. In his new role, Chandrasekar will be responsible for forging strategic partnerships with lenders such as banks and financial institutions, oversee the financial risk management function, manage investor relations, and fund-raising, according to a statement. Prior to the current role, he served as CFO of Spandana Sphoorty, a microfinance institution. Chandrasekar is an Indian Institute of Management (IIM) Bangalore alumnus.

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