‘Just Buy Live’ raises $100 mn

The DQWeek (Mumbai) - - FRONT PAGE - DQW NEWS BUREAU Mum­bai Con­tin­ued on page 2

E- Dis­tri­bu­tion com­pany Just Buy live re­cently an­nounced that it has raised $100 mil­lion (Rs 640 crore) in Se­ries B fund­ing from Dubaibased in­vest­ment bank­ing firm Ali Cloud In­vest­ment. The com­pany will use the funds to ex­pand into in­ter­na­tional mar­kets with SME’S and frag­mented dis­tri­bu­tion, and to con­sol­i­date and grow In­dian op­er­a­tions.

Launched in March 2015, Just Buy Live fol­lows a brand-to-re­tail busi­ness model wherein re­tail­ers buy goods di­rectly from brands. It has ag­gre­gated brands such as Ap­ple, Xiaomi, Sam­sung, Mi­cro­max, YU Mo­biles, Oppo, Patan­jali, ITC, P&G, Unilever, Coca-Cola, Pep­sico, Amul and Nestlé on a sin­gle plat- form.

“Just Buy Live is now ready for global ex­pan­sion… we will quickly move to en­ter new mar­kets with strong lo­cal part­ners.” said SM Ali, chair­man of Ali Cloud.

In September 2016, cit­ing Just Buy Live chair­man and CEO Sahil Sani, that the com­pany was seek­ing to raise $30-50 mil­lion and look­ing to hire an in­vest­ment banker to tap fi­nan- cial and strate­gic in­vestors. It had risen $20 mil­lion (around Rs 136 crore then) in Se­ries A fund­ing from Al­pha Cap­i­tal in Jan­uary 2016.

The Just Buy app is used by re­tail out­lets, from paan­wal­las and ki­ranas to su­per­mar­kets, chemists, mo­bile stores and elec­tronic shops. As of September 2016, the app hosted over 5

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