Jabong’s parent company, Global Fashion Group, has secured a $346 (EUR 300m) million from Kinnevik and Rocket Internet. While Rocket Internet will underwrite around EUR 100 million of the financing, it will invest around EUR 85 million including the conversion of an existing investment at the terms of the financing.
E-commerce companies aren’t just fiercely competing with each other in trying to woo the fickle Indian consumer. They’re also going all out to attract employees, and are doling out sops by the dozen to make their offices better places to work. After Flipkart announced a slew of initiatives that were designed to improve employee satisfaction, and Snapdeal came up with a spanking new office last week, Jabong has entered the fray, announcing an onsite creche facility in its office.