Lightspeed-backed Indian commerce Udaan raises $120 million

India’s Udaan has raised $120 million in convertible notes and debt led by existing shareholders and bondholders, a top executive told employees in an email Thursday seen by TechCrunch, as the business-to-business e-commerce startup works to being ready for the public markets in 12-18 months. The new financing brings the startup’s overall funding in convertible … Read more

Dispute between founders and board leaves Capiter in arrears to employees and creditors

Last month, Egyptian B2B e-commerce platform Capiter made headlines after founders Mahmoud Nouh and Ahmed Nouh were ousted by its board as CEO and COO. The reasons were unclear, as both parties didn’t publicly comment on the situation; however, from various local news outlets, they ranged from mismanagement of funds to failure to report to … Read more

Samsung names Jay Y Lee executive chairman amid global economic downturn

Samsung Electronics has appointed Jay Y. Lee as the executive chairman to lead the world’s largest smartphone and memory chipmaker, two months after the heir received a presidential pardon that erased the 54-year-old’s criminal record.  Last year, Lee was paroled from prison after serving 18 months in jail for bribing former South Korean president Park … Read more