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Alibaba Records $16 Billion Singles Day Sale

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Alibaba Records $16 Billion Singles Day Sale,Startup Stories,Inspirational Stories 2017,Business News Updates 2017,Alibaba Singles Day Sale,Alibaba Singles Day Record,Alibaba Singles Day Record 2017,Alibaba Shopping Festival 2017,Single Day Sale 2017,Global Shopping Festival

Alibaba, the China based ecommerce giant, launched the ninth edition of the Single’s Day sale on 11 November 2017. In a matter of hours, Alibaba’s sales hit a record $ 16 billion by mid morning on Saturday and clocked a growth of more than 32%, trumping the sale of Black Friday and Cyber Monday combined. Launched at midnight, Alibaba and Alipay recorded more than $16 billion in transactions by 10:30 A.M. (7:30 A.M. IST.)

The ecommerce giant announced, within two hours of the launch, nearly $ 11.9 billion worth of total Gross Merchandise Volume (GMV) was generated by the company. In a statement, the company said, “Nearly 256,000 payment transactions per second were processed by Alipay (Alibaba’s online payment platform) within the first hour.” In this edition of the annual shopping festival, more than 60 leading international brands sold goods worth over $15 million each within the first hour of the fest. The shopping festival this year also features offers from over 140,000 brands and 15 million product listings. Experts also predict, the GMV from Alibaba’s 11.11 Global Shopping Festival can even touch the $ 20 billion mark.

Alibaba’s co founder and vice chairman, Joseph C. Tsai said, “This is a big event for China, for the Chinese economy. On Singles’ Day, shopping is a sport, it’s entertainment.” This year’s night gala saw world famous guests including actress Nicole Kidman and singer Pharrell Williams along with Chinese musicians and film stars such as Zhang Ziyi and Fan Bingbing.

The Single’s Day sale was first launched in 2009 to celebrate China’s lonely hearts. Single’s Day refers to the repeated “1’s” on November 11 and was first celebrated in the 1990s by young, single Chinese as an anti Valentine’s Day. Single’s Day currently accounts for a significant share of annual orders for many businesses. The event, which aims to raise awareness about the value of online shopping among merchants and consumers, is about 2.5 times bigger than the Black Friday and Cyber Monday sale put together. The festival grossed about $18 billion during the 24 hour sale in 2016 and $14.3 billion in 2015.

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Flam Secures $14M Series A to Revolutionize Mixed Reality Marketing with AI

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AI infrastructure startup Flam has raised $14 million in a Series A round led by RTP Global, with participation from Dovetail and existing investors, bringing its total funding to $22 million. Founded in 2021, Flam enables brands to create and deliver high-fidelity mixed reality (MR) and generative AI experiences without the need for app downloads, allowing consumers to access immersive content via QR codes or links in under 300 milliseconds.

Flam’s platform is already used by over 100 global brands-including Google, Samsung, and Netflix-reaching more than 380 million users. The new funding will accelerate product innovation, expand operations in North America, Europe, and Asia, and launch a full-stack enterprise suite for MR and GenAI-driven marketing. The company currently has over 120 employees and plans to grow to 180 by the end of 2025, aiming to transform every brand touchpoint into an interactive digital experience.

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Info Edge Delivers 36% Returns on Startup Investments

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Info Edge, the parent of Naukri.com, has achieved a 36% gross internal rate of return (IRR) on its startup investments since 2007, turning a total investment of INR 3,959 crore across 111 startups into a portfolio now valued at INR 36,855 crore-a nearly 9X gain. Early bets on Zomato and Policybazaar have been especially lucrative, with holdings in these two companies alone worth INR 31,500 crore as of March 2025.

The company’s investment strategy spans multiple vehicles, including the SEBI-registered Info Edge Venture Fund (IEVF), Info Edge Capital, and Capital 2B, with a combined fund corpus of INR 3,423 crore and Info Edge committing INR 1,614 crore. Early-stage investments now contribute 30-40% of the company’s overall value.

Info Edge’s Alternative Investment Fund (AIF) investments have yielded an IRR of 18.7%. Many portfolio companies, such as TrueMeds, Geniemode, Attentive.ai, and InPrime, have attracted follow-on funding from major investors like Accel, Peak XV Partners, and Tiger Global. Notably, BlueStone, the largest investment of Info Edge Capital, has filed for an IPO after securing investments from Prosus, Peak XV, and Steadview Capital.

Founder Sanjeev Bikhchandani emphasized the company’s focus on strong governance and financial controls, with a preference for value realization through public listings or strategic exits.

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Phab Raises $2M Seed Funding to Expand Healthy Snacking Brand

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Phab, the D2C healthy snacking brand co-founded by Ankit Chona of ice cream brand Hocco and his wife Gayatri Chona, has raised $2 million (around ₹17 crore) in a seed funding round led by OTP Ventures, with participation from Capri Global, Sim&San law firm, and angel investors.

Founded in 2018, phab offers protein bars and healthy milkshakes, leveraging Ankit’s decade-long food industry experience and Gayatri’s expertise as a certified nutritionist. The brand has sold over 2 million units and sells through e-commerce and quick commerce platforms like Amazon, Flipkart, Zepto, and Blinkit.

Despite a 12% dip in operating revenue to ₹5 crore in FY24, phab trimmed its net loss by nearly 3% to ₹6.8 crore, showing improved efficiency.

The new funds will be used to expand the team, invest in production capacity, and grow phab’s presence across digital, quick commerce, and offline channels. The brand competes with Yoga Bar, Beyond Snack, and The Whole Truth in India’s growing $68 billion healthy snacking market. OTP Ventures’ founding partner Suhail Sameer praised phab’s bold, differentiated approach and the founders’ vision, signaling strong investor confidence in the brand’s growth potential.

 

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