Insta
Tiger Global, B Capital Likely To Pick Up Stake In Online Pharmacy Platform PharmEasy: Report
PharmEasy (Source: Entrackr)
Online pharmacy platform PharmEasy which had won the unicorn status during the last fund-raising campaign in April is now said to be set for another round of fund-raising at a valuation of about $1.8 billion, reports Economic Times.
New York-based renowned investment firm Tiger Global and Facebook co-founder Eduardo Saverin’s B Capital are said to be in advanced negotiations to pick up stake in PharmEasy.
While Tiger Global is likely to pump in primary capital in PharmEasy, B Capital is expected to pick up secondary shares from existing investors in the company.
One of PharmEasy’s early backers, Everstone Capital is said to be looking to divest a part of its holding in the company in a transaction that could be about $40 million.
The development comse at a time when PharmEasy is also said to be planning for initial public listing at a valuation of as much as $3 billion.
The online pharmacy is presently clocking monthly sales of around Rs 300 crore. It has also just completed the acquisition of rival Medlife, making it the largest e-pharmacy platform in the country.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
