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While shedding light on his initial foray into the e-commerce business, Sacheti said that he didnt realise the kind of money it would take to build an e-commerce business. " Sacheti s family runs Mumbais well-known jewellery store Jaipur Gems, asserted that his family stayed away from the media limelight as he quietly built the Chennai-based company. He also shed light on the CaratLane journey and how Rakesh Jhunjhunwala backed him a lot. ....
The latest transaction will ascribe a valuation of Rs 17,000 crore to CaratLane. The deal ranks as the second largest exit for an ecommerce founder in India after Flipkart founders Sachin Bansal and Binny Bansal sold their stakes to Walmart. ....
The development comes within a week of gaming unicorn Mobile Premier League (MPL) laying off about half of its India team or close to 350 people to cut down cost burden due to the increase in GST to 28 per cent. ....
Bansals exit marks the end of the founding entrepreneurs association with one of the most storied Indian consumer internet startups over the past decade. ....