PepperTap raises $36 million in Series B funding from Snapdeal, Sequoia and SAIF
Investment towards the hyperlocal grocery delivery service has also come from new investors like Ru-net, JAFCO, and BeeNext. A second close of additional $20 million expected to happen in the coming weeks
PepperTap,an on-demand hyperlocal grocery delivery service, has closed a Series B funding round of $36 million. The latest funding round was led by Snapdeal along with existing investors Sequoia India and SAIF Partners. The funding also saw participation from new investors like Ru-net, JAFCO, and BeeNext. Additionally, PepperTap is in advance talks to expand this round by another $20 million from other financial investors. This second close is expected to happen in the next few weeks.
Speaking on the investment, Navneet Singh, Co-Founder and CEO, PepperTap commented, “PepperTap has been on a hyper-growth track since its inception nine months ago. From less than $1 million GMV run rate at the start of Fiscal Year 2015-16, we are solidly on track to end the year with a GMV run-rate of over $250 million. Investment by an established player like Snapdeal is a stamp on our asset-light, low burn business model and our execution track record. We look forward to leveraging Snapdeal’s experience to help our partner stores develop their capabilities and multiply their sales.”
Kunal Bahl, Co-Founder and CEO of Snapdeal added, “We are excited to be entering into a strategic partnership with PepperTap. Navneet and his team have done a phenomenal job in building PepperTap into India’s leading grocery ordering platform. We look forward to working closely with PepperTap to make them very successful, leveraging the capabilities we have built in Snapdeal’s ecosystem.”
Shailendra Singh, Managing Director, Sequoia India, said, “PepperTap is making exciting progress in building the most efficient hyper-local infrastructure to deliver a great user experience for grocery shopping. It’s thrilling to see the incredible progress Navneet and team have made since Sequoia India’s seed investment and we're delighted to support them in their journey.”
Ravi Adusumalli of SAIF Partners added, "Since our investments a short while ago, the team at PepperTap has done an extraordinary job of growing and establishing themselves as the clear leader in the hyperlocal grocery space. We believe that this is a massive market and our focus only on groceries will enable us to have the best customer service in the market."
With the infusion of fresh funds, PepperTap plans to expand its presence to 75 cities across India by the end of the current fiscal year. The company also plans to invest heavily in strengthening its technology and supply chain capabilities. PepperTap expects to have more than 5,000 staff by year end to support its operations.
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Sr journalist Manoj Mathur no more
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Kerala Governor Arif Mohd Khan to be Chief Guest at e4m English Journalism 40 Under 40
The awards honour media professionals across the board - editors, reporters, anchors, marketing & digital media professionals, videographers, news producers and video editors
By e4m Staff | Sep 20, 2023 8:54 AM | 1 min read
Governor of Kerala Arif Mohammed Khan will be the Chief Guest at the 2nd edition of e4m English Journalism 40 Under 40, to be held in New Delhi.
exchange4media’s English Journalism 40 under 40 recognizes professionals in the domain, be it print, television, or digital. The list will include editors, reporters, anchors, journalists, marketing & digital media professionals, videographers, news producers and video editors.
The list will be out after a highly rigorous jury process at the end of which 40 individuals will be chosen for their outstanding and trendsetting work in their respective spheres.
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Sr journalist Manoj Mathur no more
Mathur was well known for his expertise on regional issues
By e4m Staff | Sep 19, 2023 2:00 PM | 1 min read
Manoj Mathur, Editor, Digital, at Zee Media Regional is no more.
Zee Media has expressed deep grief over the demise of Manoj Mathur and paid tribute to him.
Mathur was associated with 'Zee Media' for a long time as Editor of 'Zee' (Rajasthan). Later the management handed him the responsibility of Editor,Digital, at Zee Media Regional.
Mathur had over two decades of experience in media. Prior to Zee Media, he was associated with 'India News' for about a year and 'ETV' for over eight years.
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Disney holds talks with RIL over sale of India biz: Report
The US-based conglomerate is reportedly considering deals ranging from total sale of Disney Star business to partial transactions of assets such as sports rights and streaming service Disney+ Hotstar
By e4m Staff | Sep 19, 2023 9:01 AM | 1 min read
The Walt Disney Company reportedly held talks with the Mukesh Ambani-owned Reliance Industries (RIL) among other potential buyers about its India streaming and television business. Reports say that the US-based entertainment conglomerate has been considering deals ranging from total sale of Disney Star business to partial transactions of assets such as sports rights and streaming service Disney+ Hotstar.
Disney has been mulling options, including a complete sale to even considering a joint venture after its Indian streaming service lost its rights to the IPL tournament to Viacom18 Media.
Disney reportedly approached Reliance about buying a stake in the business. The talks have not culminated in any deal and Disney could hold on to the assets for longer, said reports.
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I.N.D.I.A alliance CMs may not advertise on some channels: Reports
This comes after the I.N.D.I.A. Media Committee decided not to send representatives to shows and events hosted by certain journalists/anchors
By e4m Staff | Sep 18, 2023 9:54 AM | 1 min read
The 11 Chief Ministers who are part of the I.N.D.I.A alliance are considering to stop advertising on some TV channels that they believe are pro-BJP.
As per a social media fan page dedicated to TMC MP Mahua Moitra, "The plan is to hit these propaganda channels financially."
The fan page says: "Let these channels run BJP’s agenda by inviting BJP’s spokesperson & also run their channel from the money earned from advertisements given by BJP ruled state."
This comes after the I.N.D.I.A. Media Committee decided not to send their representatives to shows and events hosted by certain journalists/anchors.
The News Broadcasters & Digital Association (NBDA) has expressed anguish and concern at the decision.
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TRAI gives more time to submit comments on OTT consultation paper
The authority said that the last date for submission of counter comments on the OTT consultation paper is now September 29
By e4m Staff | Sep 18, 2023 9:09 AM | 1 min read
The Telecom Regulatory Authority of India (TRAI) has extended the last date for receiving written comments on the issues raised in the Consultation Paper on 'Regulatory Mechanism for Over The Top (OTT) Communication Services, and Selective Banning of OTT Services to September 29, 2023.
TRAI said that keeping in view the request of an industry association for the extension of time for submission of counter comments, it has been decided to extend the last date for submission of counter comments.
On the request of stakeholders for an extension of time for submission of comments, the last date for submission of written comments and counter comments was initially extended up to August 18, then to September 1 and thereafter till September 15.
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RK Swamy Hansa Group's Srinivasan K Swamy elected as Chairman of ABC
Riyad Mathew, Chief Associate Editor & Director of Malayala Manorama representing Publisher Members on the Council was elected as the Deputy Chairman
By e4m Staff | Sep 15, 2023 1:24 PM | 2 min read
Srinivasan K. Swamy, Executive Chairman of R K Swamy Hansa Group has
been unanimously elected as the Chairman of Audit Bureau of Circulations (ABC)
for the year 2023-2024.
Swamy currently serves as Chairman of Asian Federation of Advertising
Associations, he was earlier President / Chairman of International Advertising
Association (IAA), IAA India Chapter, Confederation of Asian Advertising Agency
Associations, Advertising Agencies Association of India, Advertising Standards
Council of India, All India Management Association, Madras Chamber of Commerce
& Industry and Madras Management Association.
Swamy was also awarded the Lifetime Achievement Award by the Advertising
Agencies Association of India (AAAI).
Riyad Mathew, Chief Associate Editor & Director of Malayala Manorama
representing Publisher Members on the Council was unanimously elected as the
Deputy Chairman of the Bureau for the year 2023-2024.
Mohit Jain, Executive Director of Bennett, Coleman & Co. Ltd. representing
Publisher Members on the Council was unanimously elected as the Hon. Secretary
of the Bureau for the year 2023-2024.
Vikram Sakhuja, Partner & Group CEO Media & OOH of Madison
Communications Pvt. Ltd. representing Advertising Agencies Members on the
Council was unanimously re-elected as the Hon. Treasurer of the Bureau for the
year 2023-2024.
Members on the Bureau’s Council of Management for the year 2023-2024 are as
under:
Advertising Agencies Representatives
1. Srinivasan K Swamy, R K Swamy Ltd. – Chairman
2. Vikram Sakhuja, Madison Communications Pvt. Ltd. – Hon. Treasurer
3. Prasanth Kumar, Group M Media India Private Limited
4. Vaishali Verma, Initiative Media (India) Pvt. Ltd
Publishers Representatives
1. Riyad Mathew - Malayala Manorama Co. Ltd.. – Dy. Chairman
2. Pratap G. Pawar – Sakal Papers Pvt. Ltd.
3. Shailesh Gupta - Jagran Prakashan Ltd
4. Praveen Someshwar – HT Media Ltd.
5. Mohit Jain – Bennett, Coleman & Co. Ltd. - Hon. Secretary
6. Dhruba Mukherjee – ABP Pvt. Ltd.
7. Karan. Darda - Lokmat Media Pvt. Ltd
8. Girish Agarwal – DB Corp Limited
Advertiser Representatives
1. Karunesh Bajaj, ITC Ltd.
2. Aniruddha Haldar, TVS Motor Company Ltd.
3. Shashank Srivastava, Maruti Suzuki India Ltd.
Secretariat
Hormuzd Masani – Secretary General
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ZEE case: SAT asks Sebi if inquiry will be completed in 8 months
The SAT hearing for Punit Goenka's appeal against the Sebi order has been postponed to September 27
By e4m Staff | Sep 15, 2023 9:12 AM | 1 min read
The Securities and Appellate Tribunal (SAT) has asked Sebi if it would be able to wrap up the inquiry against Zee Entertainment Enterprises MD and CEO Punit Goenka and his father Subhash Chandra in eight months or would it require more time, media networks have reported.
The SAT hearing for Goenka's appeal against the Sebi order has been postponed to September 27.
As per reports, Sebi had earlier said that it would complete the inquiry in a span of eight months.
On September 8, SAT refused to give interim relief to Goenka in a plea filed by him against a SEBI order that bars him from holding key managerial positions in Zee group firms and the merged Zee-Sony entity.
Goenka had earlier on August 26 moved SAT against the SEBI order.
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