The rapidly expanding e-commerce companies today made a strong case for keeping them out of the proposed GST net but the state finance ministers appeared in no mood to oblige. At the first meeting of the Empowered Committee of State Finance Ministers held after the Parliament approved the GST Bill, online retailers said they only […]
Flipkart-owned online fashion retailer Myntra today said it is on track to touch the USD 1 billion Gross Merchandise Value (GMV) mark this fiscal. Myntra also said it has become the first ever Indian fashion e-commerce platform to clock the USD 1 billion run rate in annualised average GMV (post discounts) in July. “We have now […]
Hit by a cash crunch, e-commerce company AskMe has decided to shut shop, leaving 4,000 staffers jobless, while its majority investor Astro said it will appoint a forensic auditor to review the books of the startups parent firm Getit. In an internal mail, Anand Sonbhadra, Group CFO at Getit Infoservices, directed senior staff to take […]
Boomtrain, a marketing platform that uses artificial intelligence (AI) to drive relevant interactions with users at every touchpoint, today announced it has signed a definitive agreement to acquire partner, India-based Nudgespot. Nudgespot has built a best-in-class messaging platform that will integrate into Boomtrain’s technology to deliver a seamless experience for businesses to communicate with customers […]
GrabShack proudly launches its search engine for finding and comparing the best prices on deals. It has been created to solve the problem every consumer faces when ordering online. The problem of “How do I find the best price on a product or a deal? I surely can’t go through every e-commerce website out When […]
Myntra, a fashion portal owned by India’s largest online retailer Flipkart has acquired online merchandise retailer Jabong. Sachin Bansal, Flipkart’s co-founder, confirmed the news by welcoming Jabong India to the Flipkart family in a tweet. Welcome @JabongIndia to the @Flipkart family. We’ll create history together. — Sachin Bansal (@_sachinbansal) July 26, 2016 The talks of sale were fueled […]
Infosys Co-Founder and former CII President Kris Gopalakrishnan today said almost seventy per cent of startups globally will fail and only five to ten per cent will become large and scale up. “Almost seventy per cent of startups will fail. About 20 per cent will survive but will not grow. They will remain small enterprises, […]
RentoMojo, an online rental solution startup has raised funds of $5 million in a first strategic round (Series A) from IDG Ventures and Accel Partners. Since its inception in November 2014, the Bengaluru headquartered company has expanded to three more cities – Delhi, Mumbai and Pune. The funds raised will be used to further strengthen […]
German Multinational corporation, Adidas is planning to launch its official app by December in India. Adidas Group India is planning to drive customer engagement through content and loyalty programmes, and boost online sales. “Our engagement with consumers do not end in incremental sales or how many omni-channel stores are rolled out. Shopping is just a […]
Jabong.com, an online retail store owned by AB Kinnevik and Rocket Internet found itself in a hot-seat when Alibaba, Future Group, Flipkart’s unit Myntra and Aditya Birla’s ecommerce ventureAbof tried to acquire it.
American payments and financial services company MasterCard has invested an undisclosed amount in Razorpay, an online payment gateway solution for small and medium enterprises and platforms. This marks the second equity-based investment done by MasterCard. Bengaluru-based Razorpay, which works with online product and technology businesses such as cloud telephony company Knowlarity and lifestyle ecommerce portal Nykaa, […]
Venture capital firm SAIF Partners today announced that it has invested USD 1 million (around Rs 6.8 crore) in a pre-series A funding deal in online counselling platform YourDOST. “SAIF Partners has invested USD 1 million into the Bengaluru-based venture which offers online counselling and emotional wellness support to users to bolster their mental health,” […]