Latest news with #ShopKirana
Time of India
5 days ago
- Business
- Time of India
Udaan buys ShopKirana; Paytm Money's new CEO
Udaan buys ShopKirana; Paytm Money's new CEO Want this newsletter delivered to your inbox? Also in the letter: Udaan acquires ShopKirana in $88.5 million all-stock deal Deal math: InfoEdge's 26.14% in ShopKirana translates to a 1.48% holding in Udaan, now worth $23.1 million. Founders and early backers will own a combined 5–6% in Udaan. ShopKirana's FY25 revenue dropped 27% year-on-year to Rs 471 crore. The strategy: Udaan wants to scale staples, fast-moving consumer goods (FMCG), and hotel, restaurants, and catering (HoReCa) categories. The ShopKirana deal adds deep kirana ties across tier II/III cities such as Indore, Bhopal, Lucknow, Agra, a growing staples private label (Kisan Kirana), and sourcing muscle. Zoom out: What's next: Exclusive: Paytm Money set to get a new chief executive officer Who is he: The context: By the numbers: FY24 revenue: Rs 195.7 crore Rs 195.7 crore Net profit: Rs 71 crore (second straight year in the black) Rs 71 crore (second straight year in the black) FY25 revenue run rate: Close to Rs 200–300 crore Close to Rs 200–300 crore Active traders (June-end): 7.2 lakh+ Also Read: Why this matters: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: China's stealth curbs could derail India's $32B smartphone exports What's at stake: FY25 smartphone exports: $24.1 billion $24.1 billion FY26 target: $32 billion $32 billion India now produces nearly 20% of the world's iPhones Also Read: What's changing: Who's affected: Looking ahead: Byju Raveendran pushes back on claims of secret government deals Raveendran's response: Backdrop: What's being contested: Why it matters: Amazon trims AWS staff amid internal AI shake-up Who's impacted: Company line: Big picture: Financial snapshot: Q1 revenue: $29.3 billion (up 17% YoY) $29.3 billion (up 17% YoY) Operating income: $11.5 billion (up 23%) Context: B2B platform Udaan has acquired retail tech startup ShopKirana in the run-up to its listing. This and more in today's ETtech Top 5.■ China rains on India's smartphone parade■ Raveendran en garde■ Layoff wave reaches AmazonVaibhav Gupta, CEO, UdaanB2B ecommerce major Udaan has snapped up ShopKirana in an all-stock deal valuing the Indore-based startup at $88.5 million. The acquisition comes just weeks after Udaan raised $114 million from Lightspeed and M&G Investments. The move will also see Udaan roping in InfoEdge Ventures as a shareholder.B2B consolidation is heating up. Jumbotail recently bought Solv . Udaan, eyeing an IPO, has trimmed fixed costs by 20% and cut Ebitda burn by half this focus now shifts to integrating tech, logistics, and credit infrastructure to widen margins in high-frequency categories and push supply chain control beyond BharadwajSandiip Bharadwaj, former COO at HDFC Securities, is poised to take over as CEO of Paytm Money , replacing Rakesh Singh, who sources told us, will transition into another role within the HDFC Securities, Bharadwaj led the discount broking unit, HDFC Sky. He previously held senior positions at IIFL Securities and Angel in 2017 as a direct mutual fund platform, Paytm Money now offers stock trading, exchange traded funds (ETFs), pension products, and most recently, margin trade funding (MTF).As one of the few profitable units within One97, Paytm Money lags behind much larger peers like IPO-bound Groww , Zerodha, Dhan, and Angel One. This is the second leadership change at the firm in a year, bringing focus on overall Paytm's leadership stability and capital Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policymakers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship booming smartphone exports could face turbulence, with the electronics lobby group India Cellular and Electronics Association (ICEA) warning that China's informal restrictions are disrupting the supply of critical components China hasn't issued formal bans, but it's quietly slowing down shipments of capital equipment, limiting access to rare minerals, and pulling out trained Chinese workers from Indian counts Apple, Foxconn, Tata Electronics, Lava, and Dixon among its members. Many are now struggling to import tools, secure skilled labour, or source materials vital for aims to hit $145–155 billion in electronics sub-assembly output by 2030. To stay on course, the government may need to fast-track a resilient local supply chain and reduce dependence on its biggest eponymous founder, Byju Raveendran, has hit back at allegations that he's quietly negotiating payments to Indian officials to settle foreign exchange management law (Fema) claim, made in a Delaware court by US lender representative Glas Trust, suggests that behind-the-scenes deals are dismissed the charge on X, calling it 'pure fiction.' He added that the case involves Think & Learn Pvt Ltd, now under Glas's control, and that he has no incentive to get comes as Raveendran faces civil contempt charges for defying court orders in a loan default case. Glas alleges $533 million was siphoned off from a US-based financing founders insist no funds are missing and have sought stays in Indian courts against the Committee of Creditors' actions and the Glas-appointed resolution are rising, with the founders now threatening a $2.5 billion defamation lawsuit against Glas and its lenders over the reputational has cut several hundred roles across AWS, its most profitable unit, in a fresh wave of AI-driven those affected were teams in the 'specialists' division, which worked closely with clients to build custom solutions. Staff were informed over email, and system access was revoked soon after.'These decisions are necessary as we continue to invest, hire, and optimise resources,' an Amazon spokesperson Andy Jassy has warned that AI will increasingly automate corporate workflows , reducing the need for middle managers and some customer-facing continues to deliver strong numbers:This follows recent cuts across Amazon's books, devices, Wondery, and retail units. The focus has now shifted to tightening operations even in high-margin businesses.
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Business Standard
5 days ago
- Business
- Business Standard
Udaan acquires retail technology startup ShopKirana ahead of IPO
Business-to-business e-commerce firm Udaan acquired retail technology startup ShopKirana in an all-stock transaction, bringing internet company Info Edge into Udaan's shareholder base as consolidation accelerates in the country's digital commerce sector. The deal combines Udaan, which connects small retailers with suppliers, with ShopKirana, a platform that helps neighbourhood stores manage inventory and operations. Financial terms weren't disclosed, and the transaction requires regulatory approval. However, in a letter to the National Stock Exchange of India Limited, Info Edge has valued the transaction at $23.13 million. 'This acquisition is a strategic milestone in our journey to the IPO and beyond,' said Vaibhav Gupta, co-founder and CEO, Udaan. 'With the combined strength of both organisations and a strong leadership team, we are well-positioned to deliver on our agenda of 'growth with profitability at scale'.' The acquisition will complement Udaan's leadership across core categories, including staples, fast-moving consumer goods (FMCG), and hotel, restaurant, and catering (HoReCa). ShopKirana and Udaan's integration aims to boost efficiency, expand reach, and add value through combined FMCG expertise, tech, and supply chain strengths. This combination will further accelerate Udaan's profitability journey by scaling high-turnover categories. It would also help improve operating leverage and deliver differentiated value through data-driven logistics and infrastructure. 'Together, we will unlock growth across existing and emerging markets while delivering superior value to buyers, sellers, and consumers,' said Sumit Ghorawat, co-founder, ShopKirana. 'We continue to work towards our shared vision of building a large, future-ready GTM (go-to-market) retail superpower,' he noted. The latest acquisition follows the successful closure of Udaan's $114 million Series G fundraise, led by M&G Investments and Lightspeed. The capital will strengthen category leadership in FMCG and HoReCa, expand into new markets, and boost efficiency through scale sourcing, supply chain optimisation, and cost control. 'This strategic consolidation is an important step forward in Udaan's journey towards consolidating the eB2B market, driving profitability with sustained growth, and strengthening the value proposition for retailers and brands,' said Bejul Somaia, partner, Lightspeed. Kitty Agarwal, Partner, InfoEdge Ventures, noted that the merger marks a significant step towards consolidating the leadership position of the combined Udaan-ShopKirana entity in the sector. 'We're looking forward to the journey ahead as the combined team executes its strategic roadmap with a path toward an IPO in India in the next two years.' Founded in 2015, ShopKirana has enabled thousands of kirana stores through digital procurement, transparent pricing, and efficient last-mile delivery. With a strong footprint in Tier 2 and Tier 3 cities such as Indore, Bhopal, Lucknow, Agra, Surat, and Meerut, ShopKirana complements Udaan's national market presence. Experts said the acquisition reflects increasing consolidation among Indian e-commerce companies as they seek profitable growth after years of cash-burning expansion. Udaan said it continues to demonstrate strong contribution margin accretive growth, clocking over 60 per cent year-on-year growth in CY 2024. Alongside the contribution margin growth and scale operating leverage, Udaan also reduced its fixed costs by 20 per cent, leading to a 40 per cent reduction in EBITDA burn in calendar year CY 2024 and an additional 20 per cent reduction year-to-date in CY 2025.
News18
5 days ago
- Business
- News18
IPO-bound udaan acquires retail-tech startup ShopKirana
Mumbai, Jul 18 (PTI) IPO-bound e-b2b platform udaan on Friday announced the acquisition of retail-tech startup ShopKirana in an all-stock deal, marking a strategic consolidation in the domestic eB2B space. The acquisition will complement the platform's leadership across core categories, including staples, FMCG and hotel, restaurant, and catering (HoReCa), udaan said. Founded in 2015, ShopKirana enables kirana stores through digital procurement, transparent pricing, and efficient last-mile delivery. With a strong footprint in tier-2 and tier-3 cities such as Indore, Bhopal, Lucknow, Agra, Surat, and Meerut, ShopKirana complements udaan's national market presence, further strengthening the unified entity as the platform of choice for kiranas and brands across Bharat, it said. The acquisition also reinforces udaan's strategy of driving profitable growth through deeper market penetration, operational efficiency, and broader geographic reach, the company stated. By integrating ShopKirana's deep retailer network and core expertise in the FMCG space with udaan's tech infrastructure, nation-wide supply-chain capabilities and wide credit offerings, the combined entity aims to further enhance efficiency, expand coverage and deliver greater value to retailers, brands, and consumers, the company said. 'This acquisition is a strategic milestone in our journey to the IPO and beyond. ShopKirana has a quality team. Together, we share the belief in winning by becoming a 'preferred supplier to our shopkeepers' and 'preferred partner to brands'," said Vaibhav Gupta, Co-Founder and CEO, udaan. 'We also share the core strategy of 'winning on costs'. With the combined strength of both organisations and a strong leadership team, we are well-positioned to deliver on our agenda of growth with profitability at scale," he said. With this transaction, which is subject to regulatory approvals, Info Edge, which owns, operates and invests in internet-led businesses, joins as a shareholder in udaan, with a shared vision to digitally transform India's retail-tech ecosystem, the platform said. The latest buyout follows the closure of udaan's USD 114-million Series G fundraise, led by M&G Investments and Lightspeed, it said. The capital, according to udaan, would be strategically deployed to reinforce category leadership, particularly in high-frequency segments like FMCG and HoReCa, further drive expansion into untapped markets, and unlock operating leverage through enhanced sourcing-at-scale, improved supply chain utilisation, and rigorous cost optimisation. 'Joining hands with udaan marks a defining moment in our journey to empower kirana stores across India. This partnership brings together our expertise in the FMCG space with udaan's overall scale and infrastructure advantage — enabling us to take more brands to more retailers more efficiently, capturing market share," Sumit Ghorawat, Co-Founder, ShopKirana, said. PTI IAS TRB view comments First Published: July 18, 2025, 12:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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Business Standard
5 days ago
- Business
- Business Standard
IPO-bound udaan acquires retail-tech startup ShopKirana in all-stock deal
IPO-bound e-b2b platform udaan on Friday announced the acquisition of retail-tech startup ShopKirana in an all-stock deal, marking a strategic consolidation in the domestic eB2B space. The acquisition will complement the platform's leadership across core categories, including staples, FMCG and hotel, restaurant, and catering (HoReCa), udaan said. Founded in 2015, ShopKirana enables kirana stores through digital procurement, transparent pricing, and efficient last-mile delivery. With a strong footprint in tier-2 and tier-3 cities such as Indore, Bhopal, Lucknow, Agra, Surat, and Meerut, ShopKirana complements udaan's national market presence, further strengthening the unified entity as the platform of choice for kiranas and brands across Bharat, it said. The acquisition also reinforces udaan's strategy of driving profitable growth through deeper market penetration, operational efficiency, and broader geographic reach, the company stated. By integrating ShopKirana's deep retailer network and core expertise in the FMCG space with udaan's tech infrastructure, nation-wide supply-chain capabilities and wide credit offerings, the combined entity aims to further enhance efficiency, expand coverage and deliver greater value to retailers, brands, and consumers, the company said. This combination will further accelerate udaan's profitability journey by scaling high-turnover categories, improving operating leverage, and delivering differentiated value through data-driven logistics and infrastructure, it added. "This acquisition is a strategic milestone in our journey to the IPO and beyond. ShopKirana has a quality team. Together, we share the belief in winning by becoming a 'preferred supplier to our shopkeepers' and 'preferred partner to brands'," said Vaibhav Gupta, Co-Founder and CEO, udaan. "We also share the core strategy of 'winning on costs'. With the combined strength of both organisations and a strong leadership team, we are well-positioned to deliver on our agenda of growth with profitability at scale," he said. With this transaction, which is subject to regulatory approvals, Info Edge, which owns, operates and invests in internet-led businesses, joins as a shareholder in udaan, with a shared vision to digitally transform India's retail-tech ecosystem, the platform said. The latest buyout follows the closure of udaan's USD 114-million Series G fundraise, led by M&G Investments and Lightspeed, it said. The capital, according to udaan, would be strategically deployed to reinforce category leadership, particularly in high-frequency segments like FMCG and HoReCa, further drive expansion into untapped markets, and unlock operating leverage through enhanced sourcing-at-scale, improved supply chain utilisation, and rigorous cost optimisation. "Joining hands with udaan marks a defining moment in our journey to empower kirana stores across India. This partnership brings together our expertise in the FMCG space with udaan's overall scale and infrastructure advantage -- enabling us to take more brands to more retailers more efficiently, capturing market share," Sumit Ghorawat, Co-Founder, ShopKirana, said.
Time of India
5 days ago
- Business
- Time of India
udaan acquires retail-tech startup ShopKirana
udaan , an eB2B platform, on Friday, announced the acquisition of ShopKirana , a retail-tech startup for kirana stores. With this transaction, Info Edge , an Indian technology holding company which owns, operates and invests in internet-led businesses joins as a shareholder in udaan. The transaction is subject to all regulatory approvals. The acquisition aims to compliment udaan's leadership across core categories including Staples, Fast-Moving Consumer Goods (FMCG) and Hotel, Restaurant, and Catering (HoReCa). By integrating ShopKirana's deep retailer network and core expertise in the FMCG space with udaan's robust tech infrastructure, nation-wide supply-chain capabilities and wide credit offerings, the combined entity aims to further enhance efficiency, expand coverage and deliver greater value to retailers, brands, and consumers. Explore courses from Top Institutes in Select a Course Category Vaibhav Gupta , Co-Founder and CEO, udaan, said in a statement, 'This acquisition is a strategic milestone in our journey to the IPO and beyond. ShopKirana has a quality team, who have worked in-depth on the FMCG category and excelled at designing for costs. Together, we share the belief in winning by becoming a 'preferred supplier to our shopkeepers' and 'preferred partner to brands'. We also share the core strategy of 'winning on costs'. With the combined strength of both organisations and a strong leadership team, we are well-positioned to deliver on our agenda of 'growth with profitability at scale'.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Quote Sumit Ghorawat , Co-Founder, ShopKirana, said in a statement, 'Joining hands with udaan marks a defining moment in our journey to empower kirana stores across India. This partnership brings together our expertise in the FMCG space with udaan's overall scale and infrastructure advantage - enabling us to take more brands to more retailers more efficiently, capturing market share. Together, we will unlock growth across existing and emerging markets while delivering superior value to buyers, sellers, and consumers. While retailers have already shown great adoption, we believe this is the right time to come together and make B2B ecommerce mainstream for FMCG brands. We continue to work towards our shared vision of building a large, future ready GTM retail superpower and become the preferred choice for retailers, brands, employees and investors.' The latest acquisition follows the closure of udaan's $114 Million Series G fundraise, led by M&G Investments and Lightspeed. The capital would be strategically deployed to reinforce category leadership, particularly in high-frequency segments like FMCG and HoReCa, further drive expansion into untapped markets, and unlock operating leverage through enhanced sourcing-at-scale, improved supply chain utilisation, and rigorous cost optimisation. Live Events
