Future of Startups is Uncertain, Says Tiger Global
Bengaluru, India | Red Newswire | Nov 23, 2015 Last Updated at 10:40 AM IST.
One of the biggest startups investor Tiger Global has given a boost to Flipkart, Ola and many other startups this year. however, now the investment company says it is going to slow down. According to the reports, Tiger Global Management is going to adopt a two track strategy.
Lee Fixel, co-head of the company said it will follow the above mentioned strategy while investing in the companies. The company backs Ola and Flipkart. The company has also pumped over $2 billion (Rs. 13,000 crore) in more than 35 companies in India.
One of the founders said, “We have been investing in the discount game for the past five years and realised that there is still no clear winner in those markets.”
Another venture capitalist who has co-invested with Tiger Global said, “He is going to go slow on India going forward. He has basically told all portfolio companies that if you cannot raise funding externally then I will not invest.”
Last year Tiger Global made 18 investments and this year it pushed to 38 investments.
LocalOye founder Aditya Rao said, “The local services industry is in its nascent stages and overcrowded right now. But early 2016 will be an interesting year for all of us and we will see investors joining hands and consolidation starting. By the end of 2016, just two or three large players will be prevailing in this space.”
Source: BI India Bureau