Reuters: Online marketplace Snapdeal, backed by Japan’s SoftBank Group Corp and others, will spend more on logistics and technology to better compete with Flipkart and Amazon’s Indian unit, its co-founder said on Monday. Shopping online is becoming more popular in India due to the rising use of cheaper smartphones and e-commerce firms are struggling to […]
Making it a year of startups, Indian and foreign investors have pumped in a whopping USD 8.4 billion in new Indian startup ventures, including e-commerce platforms in 2015 through close to 1,000 deals, even as questions have begun to be asked about their hefty valuations. Those opening the purse for Indian start-up s included industry […]
BlackBuck, a business-to-business logistics startup, has raised $25 million in Series B funding from Tiger Global and other investors. Russian billionaire investor Yuri Milner’s Apoletto fund and existing investors Accel Partners and Flipkart also put money in this round, BlackBuck said in a statement. The startup, owned by Zinka Logistics Solutions Pvt Ltd, would use the […]
Web Summit, the planet’s largest and most influential tech and startup event, is launching its Indian edition as SURGE 2016. Aimed at the tech and startup communities in India and internationally, SURGE 2016 will be held in Bangalore on February 23-24, 2016. Paddy Cosgrave, CEO of Web Summit, announced the event today along with Vikram […]
India’s most respected and loved E-commerce site, Flipkart founded by two college friends who studied together at IIT-Delhi and worked together in Amazon. It’s revenue is estimated to be somewhere between $500 million to $1 billion, to create which it has had to pull in around $200 million in venture funding over four rounds till […]
Taxi aggregator Ola today said it has appointed former Infosys Chief Financial Officer Rajiv Bansal to head finance operations as part of its expansion drive in the country. Bansal, who announced his resignation from the country’s second largest software services firm in October this year, will join the Softbank-backed Ola in January 2016. “Rajiv […]
E-commerce giant Amazon.com is taking lessons learnt from its daily battles with India’s choked roads and cramped cities to some of its largest developed markets, exporting a model of cheaper deliveries and reduced warehousing costs. Online shopping is booming in India, where millions of consumers are newly able to access the Internet thanks to cheap […]
In the wake of an unprecedented surge in e-commerce, shopping malls already under huge pressure due to large vacant spaces are expected to see a sharp decline in the footfalls could be to the extent of 55.58 per cent during the ongoing festive season this year, reveals an ASSOCHAM recent survey. According to the just […]
It’s Saturday morning and a hyperlocal experiment is playing on my mind. I have decided to fix a basket of goods and order from each of the new hyperlocal superstars that have hit the scene. Taking a page from the recent coverage, I chose the following: Grofers Peppertap Flipkart Nearby Amazon Kirana Snapdeal Instant Ola […]
Paytm is an Indian e-commerce shopping website launched in 2010, owned by One97 Communications which initially focused on Mobile and DTH Recharging. The company is headquartered in Noida, India. It gradually provided recharging and bill payment of various portals including electricity bills, gas bills, as well as telephone bills. Paytm entered India’s e-commerce market in […]
Rahul Gandhi, the Vice-President of Congress, India’s main opposition party will meet founders of start-ups in Bengaluru today over tea. Mr. Gandhi will meet startups like Taxi aggregator Ola, grocery portal Big Basket, Skan Ray Technologies, Paper boat represented by their founders. Flipkart might be missed because its founders Sachin Bansal and Binny Bansal are […]
In world’s top 10 mobile makers, Micromax announced a strategic investment in Scandid, a mobile product and savings discovery platform. The Scandid app helps customers compare prices and discover discounts across top e-commerce and local retailers, helping them make informed choices. The Scandid investment further reinforces Micromax’s foray into application services and building an integrated […]