Tiger Global has invested $6 million in online Indian jewellery portal, CaratLane, in its second e-commerce investment this month. Earlier this month, the global PE major had invested $20 million in books-to electronics e-retail venture, Flipkart. CaratLane, which supplies to 50 cities, will use the funding to expand its national footprint.

"We want to strengthen our back end and invest in



arketing and brand building," said the company's CEO Mithun Sacheti, who founded the venture in 2008 with Srinivasa Gopalan, founder-CEO of Lister Technologies. Tiger Global is betting big on Indian e-commerce.

In April, Tiger Global, along with IDG Ventures and Indo-US Venture Partners, invested $14 million in e-retailer Myntra. They also invested in online electronics retailer Lets-Buy and in online babycare products retailer BabyOye.com.

E-commerce in India has been booming, with the market expected to rise 47% to Rs 46,000 crore this year, according to a report by the Internet and Mobile Association of India (IAMAI). However, e-retail constitutes just 8% of e-commerce, with personal items like jewellery, apparels, cosmetics, shoes and watches contributing 19% to e-retail.

While online retail has been popularly considered as driven by deals and low prices, CaratLane claims the average ticket size on their site is Rs 80,000.

But the company also claims its prices are upto 25% lower than retail store prices. Sacheti, a trained gemologist, said that in any nascent e-commerce market, low prices are the first step to attract customers. His family owns Jaipur Gems and Sacheti and he was able to leverage the connections and expertise in the area of gems and jewellery to build up CaratLane.

"We are able to keep prices low as we hold minimum stocks and are able to turn around pieces in 48 hours," said Sacheti. While the company manufactures and retails jewellery, it acts as an aggregator for solitaires. "We source solitaires from all over the world and are able to guarantee the lowest prices," he said. The company, which clocked revenue of Rs




nd jewellery to build up CaratLane.

"We are able to keep prices low as we hold minimum stocks and are able to turn around pieces in 48 hours," said Sacheti. While the company manufactures and retails jewellery, it acts as an aggregator for solitaires. "We source solitaires from all over the world and are able to guarantee the lowest prices," he said. The company, which clocked revenue of Rs 50 crore in FY 2010-11, expects to expand to 100 cities by end of the year.

Tiger Global CaratLane.Com jewellery portal books-to electronics e-retail venture  
   HP Announces webOS Pivot for HP TouchPad

PALO ALTO, announced HP webOS Pivot, providing users an entertaining and informative editorial resource for discovering webOS 3.0 applications for the HP TouchPad, which launches July 1.

“It’s a perfect fit with our core values as a company – creative risks mitigated by smart technology choices. Because the platform is so accessible and developer-friendly, we’ve been able to build the game we want to build.”

Designed to complement the HP webOS App Catalog, Pivot will showcase a broad range of applications – and the developers who create them – by providing customers the freedom to explore based on their interests and lifestyles. It’s just one of the new ways HP is enhancing the webOS Developer Program and investing further in the success of the growing ecosystem.

“Pivot brings app discovery to a new level for customers and developers alike,” said Richard Kerris, vice president, webOS Worldwide Developer Relations, HP. “We want our partners to experience webOS as the growing platform of opportunity, and we’re investing in new ways to help market their applications on our platform.”

Published on a monthly basis, Pivot is designed to broaden developer exposure and create a dynamic marketplace for the burgeoning webOS developer community.

Consisting of original content by journalists and photographers affiliated with leading publications, Pivot will include visually driven editorial pieces, columns from notable guest writers sharing their perspectives on digital culture, feature stories focused on applications around specific topics, and in-depth reviews – all accompanied by vibrant photos and illustrations on HP TouchPad’s brilliant screen. Content will be catered to the specific interests and requirements of a given region, appealing to a wide range of international customers.

Pivot will publish initially for English, French, German and Spanish languages and will be updated over the air directly to all HP TouchPad customers.

“Pivot has the right focus,” said Joe Simon, chief technology officer, Conde Nast. “It provides an enriching experience for customers and is a great environment for developers considering the platform.”

The Wi-Fi version of HP TouchPad will be available in stores and online in the United States on July 1 with the option of either 16 GB or 32 GB of internal storage for $499.99 and $599.99, respectively.

HP TouchPad will be available in the United Kingdom, Ireland, France and Germany on July 2 and in Canada on July 15, with availability scheduled to follow later this year in Australia, Hong Kong, Italy, New Zealand, Singapore and Spain.