Tiger Global Invests $6 Mn In Online Jewellery Portal CaratLane.com
Tiger Global Management LLC has invested $6 Mn in Caratlane Trading Private Limited, which runs online diamond and jewellery portal, Caratlane.com.
Chennai-based Caratlane will use the funds to develop a larger national and international footprint for itself and also on brand-building and marketing.
Transaction Reference: Economic Times
Caratlane was founded in 2008 by Srinivasa Gopalan and Mithun Sacheti. The website, on an average, claims to be selling 15 solitaires a day and shipping diamonds to 50 cities in across India with an average ticket size of Rs.80,000.
It is planning to expand to 100 cities by end of the year. The company has around 200 vendors across the world.
This is Tiger Global's sixth investment this year. Recently, it invested $20 Mn in Flipkart Online Services Private Limited. Last month, it invested in online private sales site Exclusively.in. Along with Accel Partners, it invested $2.5 Mn in Mumbai-based Nest Childcare Services Private Limited, which runs BabyOye.com, an online baby products store. It also
While in March, Tiger Global along with IDG Ventures and IndoUS Venture Partners invested $14 Mn in Myntra.com.It also invested in online electronics retailer LetsBuy.com.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 23/06/11 | Caratlane - Tiger Global | Private Equity | Tiger Global Management LLC | 6.00 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 24/04/12 | IPO / Offerings | Credit Suisse (International) Holding AG | Tribhovandas Bhimji Zaveri Limited | 5.68 | Completed |
| 07/02/12 | Private Equity | Leman Diversified Fund | Su-Raj Diamonds and Jewellery Limited | 40.78 | Completed |
| 05/01/12 | IPO / Offerings | Tara Jewels Limited | 41.64 | Announced | |
| 05/12/11 | M&A | Gitanjali Gems Limited | Crown Aim Limited | - | Completed |
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| Tiger Global Management LLC | Media Real Estate Telecom Energy IT/ITES/Technology |
Lee FixelNeeraj Chandra | ||
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Caratlane Trading Private Limited | Mithun Padam Sacheti A Srinivasa Gopalan |
50/1/2 Cathedral Road, Gopalapuram | www.caratlane.com | |
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