Moulishree Srivastava

Currently, the company is present in 38 cities and has partnered with 12,000 offline stores to fulfill customer orders.

India’s startup ecosystem has emerged as the third-largest in the world.

This round will value Dream11 at around USD 4 billion.

This funding round will give an exit to some of its early investors with returns ranging between six-seven times.

The acquisition will give a full exit to Alibaba and private equity firm Abraaj Group.

When Alibaba’s investments started faltering, it changed its focus to Southeast Asia and India became a low priority.

If the talks go through, it would be one of the largest consolidation deals in the Indian edtech space.

With this round, KreditBee’s parent company Finnov has cut down the shareholding of its existing Chinese backers from 40% to 10%.