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eBay draws new Logistics plan to fight against Amazon

26Jul By AnkitaNo Comments

News

eBay draws new Logistics plan to fight against Amazon

SAN FRANCISCO: Online retail giant eBay plans its own managed delivery for sellers through its platform to compete with Amazon prime service and boost its brand recognition. The new service will result in "hundreds of millions of eBay-branded boxes and packages being placed on front porches across the United States within the next few years," the company statement said. The move by eBay comes with Amazon growing its base of third-party sellers for its Prime subscription service that offers same day delivery. "These branded packages will not only deliver a better shopping experience for customers, but materially enhance eBay's brand identity as a popular consumer shopping destination." The new service will allow sellers to store inventory closer to buyers in warehouses across ...

Amazon founder Bezos finalizes divorce with $38 bn settlement

6Jul By PriyankaNo Comments

News

Amazon founder Bezos finalizes divorce with $38 bn settlement

Amazon founder Jeff Bezos and MacKenzie Bezos finalized their divorce Friday to the tune of a USD 38-billion settlement. Under the agreement, MacKenzie Bezos, 49, will receive approximately 19.7 million Amazon.com shares, giving her a four percent stake in the company valued at USD 38.3 billion, and landing her richest woman in the world. Jeff Bezos, 55, will retain a 12 percent stake and remain the world's richest man. MacKenzie Bezos has said that she would give all of her stake in The Washington Post and the space exploration firm Blue Origin to her husband as well as voting control of her remaining Amazon stock. She has also promised to donate half her fortune to charity, joining the ranks of the world's ultra-wealthy philanthropists as a signatory of the Giving Pledge. ...

Not IPO, driving e-commerce growth in India is Prime Focus: Flipkart

24Jun By AdityaNo Comments

News

Not IPO, driving e-commerce growth in India is Prime Focus: Flipkart

An initial public offering (IPO) is a long-term strategy, but our prime focus is getting 200-300 million new Indians into the e-commerce space, said India's leading e-commerce portal Flipkart (owned by Walmart). The statement comes amid reports that Flipkart is looking at tapping into the US share market by 2022. "An IPO has always been part of Flipkart's ambitions and long-term strategy but right now, we don't have a time frame on that. Flipkart is currently focused on driving the growth of e-commerce in India to get 200-300 million new customers into e-commerce fold," a Flipkart spokesperson said in an e-mailed statement. Walmart Inc in May last year had announced that it is buying 77 percent stake in Flipkart for about USD 16 billion (Rs 1.05 lakh crore), its biggest deal whic...

11Jun By AnkitaNo Comments

News

Amazon beat Apple & Google as the most valuable brand

In the latest survey, Amazon beat Apple and Google to become the world's most valuable brand in the world. The brand value of Amazon surged by 52 percent to $315 billion, global market research agency Kantar said in its 2019 100 Top BrandZ report. Amazon jumped from third to first place to eclipse Google which slid from first to third place with Apple holding on to the second spot. The Seattle-based retail behemoth, founded by Jeff Bezos in his garage in 1994, topped the table thanks to key acquisitions, superior customer services and a disruptive business model, Kantar said in a statement. "Amazon's smart acquisitions, that have led to new revenue streams, excellent customer service provision and its ability to stay ahead of its competitors by offering a diverse ecosystem of...

How Reliance will beat Amazon and Flipkart in E-commerce race

22May By AnkitaNo Comments

Story

How Reliance will beat Amazon and Flipkart in E-commerce race

Reliance Retail upcoming entry into the Indian online space is the biggest challenge for already established e-commerce companies like Amazon and Walmart owned Flipkart. As per the latest report, Mukesh Ambani-led Reliance Retail is set to create massive disruption in the market. About Reliance Retail Reliance Retail, which operates massive 10,415 stores in more than 6,600 Indian cities having an annual footfall of 500 million. Reliance Retail (which have a store like Reliance Trend) had $81 billion in revenue and $9.4 billion in profit during 2019. Reliance Retail is the largest retailer in India, with $18.7 billion in revenue during the financial year 2019, and it grew at a CAGR of 55 percent in the last five years. Reliance Retail also has a portfolio of over ...

Walmart, Amazon kick off government online pilot program

20Apr By AdityaNo Comments

USA

Walmart, Amazon kick off government online pilot program

AP, New York: Amazon and Walmart kicked off a two-year government pilot program allowing low-income shoppers on government food assistance in New York to shop and pay for their groceries online for the first time. ShopRite will join the two retailers on the program early next week, said the US Department of Agriculture, which oversees the Supplemental Nutrition Assistance Program, or SNAP. The USDA has long required customers using electronic benefits transfer, or EBT, pay for their purchases at the actual time and place of sale. So the move marks the first time SNAP customers can pay for their groceries online. ShopRite and Amazon are providing the service to the New York City area, and Walmart is providing the service online in upstate New York locations. The agency said the pi...

Amazon buys warehouse robotics startup Canvas Technology

11Apr By NitishNo Comments

ACQUISITION

Amazon buys warehouse robotics startup Canvas Technology

Amazon has said it had acquired Canvas Technology, a robotics startup in Boulder, Colorado, that has built autonomous carts that can move goods around warehouses. An Amazon spokeswoman did not comment on the deal's price tag but said the companies "share a common vision for a future where people work alongside robotics to further improve safety and the workplace experience. We look forward to working with Canvas Technology's fantastic team to keep inventing for customers". The deal was earlier reported by TechCrunch. The world's largest online retailer has increasingly automated its fulfilment centres with robots, originally from Kiva Systems which it agreed to buy for $775 million in 2012, that transport shelves of inventory to workers to pick customer orders. Amazon has a...

MacKenzie Bezos surrender 75% Amazon couple shares

4Apr By PriyankaNo Comments

News

MacKenzie Bezos surrender 75% Amazon couple shares

MacKenzie Bezos, ex-wife of Amazon founder Jeff Bezos, announced Thursday the couple had finalised their divorce, and that she would surrender 75 per cent of the couple's shares in the tech giant. Bezos also said she would surrender all of her stake in The Washington Post and the space exploration firm Blue Origin to her ex-husband, as well as voting control of her remaining Amazon shares. But Mackenzie will still retains 25% of Amazon stock which is equal to $35 billion dollars. MacKenzie Bezos will become Fourth-Richest Woman After Divorce. "Grateful to have finished the process of dissolving my marriage with Jeff with support from each other and everyone who reached out to us in kindness," MacKenzie Bezos wrote on Twitter. https://pixr8.com/news/amazon-ceo-jeff-bezos-and-w...

Amazon will exit from New York, 25k promised Jobs on Hit

15Feb By PriyankaNo Comments

USA

Amazon will exit from New York, 25k promised Jobs on Hit

Amazon jilted New York City on Valentine's Day, scrapping plans to build a massive headquarters campus in Queens amid fierce opposition from politicians angry about nearly 3 billion in tax breaks and the company's anti-union stance. With millions of jobs and a bustling economy, New York can withstand the blow, but experts say the decision by the e-commerce giant to walk away and take with it 25,000 promised jobs could scare off other companies considering moving to or expanding in the city, which wants to be seen as the Silicon Valley of the East Coast. "One of the real risks here is the message we send to companies that want to come to New York and expand to New York," said Julie Samuels, the executive director of industry group Tech NYC. "We're really playing with fire right now....

Amazon and Flipkart pull down 400k products after a new Indian Law

1Feb By AnkitaNo Comments

News

Amazon and Flipkart pull down 400k products after a new Indian Law

After a new e-commerce regulation implemented by the Indian government to protect its domestic retail stores, the US-based leading e-commerce companies Amazon and Flipkart pull down an estimated 400,000 products in India. The new regulation for e-commerce businesses which was first announced at the end of 2018 imposes a ban on exclusive sales, prevents retailers from selling products on platforms they count as investors and applies restrictions on discounts and cashback promotions. Flipkart, owned by Walmart following a $16 billion investment pull as many as one-quarter of its products in order to comply with the rule. Amazon estimated to have pulled as many as 400,000 products from sale in India. Initially, Flipkart and Amazon have applied for three-month relaxation to the n...

Asia’s Richest Man Mukesh Ambani Entry in E-commerce Space Will Reduce the Digital Space: Infosys Former CFO

19Jan By PriyankaNo Comments

Entrepreneurs Talk

Asia’s Richest Man Mukesh Ambani Entry in E-commerce Space Will Reduce the Digital Space: Infosys Former CFO

After news broke of Asia's richest man Mukesh Ambani entry into Indian e-commerce space against giants like Amazon and Flipkart, Infosys former CFO T V Mohandas Pai Saturday said the foray of Mukesh Ambani's Reliance into India's e-commerce space would allay fears of digital colonisation and dramatically lower costs, immensely benefiting the consumers. "One thing is certain that consumers and India will be a winner, and in online retail, the fear of becoming a digital colony will recede with the entry of a formidable Indian entity, Reliance," he told Pixr8 in an interview. Reliance seems to be creating next generation retailnetwork which has the potential to radically change the dynamics of retail in a fast growing economy, Pai said, adding that "it would dramatically lower costs, ...

Amazon CEO Jeff Bezos and wife MacKenzie to divorce

10Jan By reutersNo Comments

News

Amazon CEO Jeff Bezos and wife MacKenzie to divorce

Amazon.com Inc founder and Chief Executive Jeff Bezos and his wife MacKenzie Bezos are divorcing after 25 years of marriage, the couple said on Twitter on Wednesday. Jeff Bezos, 54, has a fortune that has soared as high as $160 billion thanks to his stake in Amazon, which again became Wall Street’s most valuable company this week, surpassing Microsoft Corp. Bezos has credited MacKenzie, 48, for her support when he uprooted the young couple to Seattle from New York to launch Amazon, an online bookseller that grew into the world’s largest internet retailer. MacKenzie Bezos, a Princeton graduate who is now a novelist, did accounting for Amazon for its first year after it was founded in 1994. The couple decided to divorce after a long period of “loving exploration” and trial sepa...