Limeroad -- which raised about $52 million in venture funding -- acquired for Rs 32 crore (about $4 million) by value retailer V Mart
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There is an additional payment of about Rs 14.6 crore for assets
That takes the total consideration to about $5.5 million
Limeroad's net revenues have been falling for the last three years
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In August,
@Bhumika14k
had reported that Limeroad was facing issues in paying its dues
More here -
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@madhavchanchani
Does it have anything to do with a former reliance executive who joined V Mart recently?
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@madhavchanchani
VMart at an average transaction value of less than 200 is perhaps tactically and strategically the smartest Indian retailer right now.
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@madhavchanchani
I remember purchasing from Limeroad once in 2013/2014 but the company never scaled up to the likes of Myntra or Jabong in terms of brand positioning and quality clothing. Seems like Clovia is on a similar path.
@limeroadcom
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