Fashion e-tailer Jabong said it saw 50 percent revenue growth month-on-month in October, closing the month with positive unit economics for the first time in its history. The Myntra-owned company achieved a positive gross profit for the first time ever, propelled by revenue growth and fulfillment cost reduction, Jabong said in a statement. However, the […]
MobiKwik, an Indian mobile payments network and mobile wallet announced that it has launched UPI on its platform. MobiKwik users can now load their wallet with e-cash using UPI. The company already has options of netbanking, credit & debit card and the exclusive cash pick up & cash deposit service for wallet loading. Speaking on […]
India’s leading e-commerce platform Flipkart has crossed the 100-million registered users mark, becoming first e-commerce company in the country to achieved this milestone. “This is a small step in our efforts to build a platform that provides quality products, affordable and accessible to millions of Indians shopping online. This milestone has further energized us to ramp-up […]
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 […]
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 […]
MobiKwik, India’s largest independent mobile payments’ network today announced that it has registered 5000 percent growth on Big Basket, India’s largest online supermarket Bigbasket offers over 20,000 products from over 1,000 brands and is present in 25 cities across the country including Bangalore, Hyderabad, Mumbai, Pune, Chennai and Delhi-NCR. Upasana Taku, Co-founder, MobiKwik said, “Grocery […]
Online lending platform Capital Float has raised USD 25 million (Rs 170 crore), led by Creation Investments Capital Management. The Series B financing also saw “significant participation” from existing investors like SAIF Partners, Sequoia India and Aspada, Capital Float said in a statement. This is the third round of funding, bringing the total equity capital […]
As per the report in ET, Roadrunnr (Logistics player) and Tinyowl(online food ordering platform) are in early stages talks to merge in an all-stock deal. Venture funds including Sequoia Capital and Nexus Venture Partners invested in both the startups. At present, both companies have cash to sustain operations for at least 10 months. The talks […]
Mobile wallet company Mobikwik today said it has raised USD 50 million (about Rs 330 crore) in funding, led by Japanese payments firm Gateway and Taiwanese chip maker MediaTek. Its existing investors such as Sequoia Capital and Treeline Asia also participated in the current round of funding. The company said it will use the proceeds […]
Start-up companies in India are expected to raise $700 million and create 5,000 jobs in next 12 months, as per India Startup Outlook Report 2016 by InnoVen Capital. “About 130 companies are expected to raise $700 million in the next 12 months,” said the report. InnoVen Capital India has provided over 100 loans to 70 […]
In February 2010, a fresh-faced engineering graduate cold-called India’s hottest e-commerce startup at the New Delhi World Book Fair. Ankit Nagori had heard of Flipkart, a Bengaluru-based startup that had broken new ground by selling books online ever since it acquired its first customer in October 2007. Compared to the heavyweight brick-and-mortar booksellers and publishing […]
Flipkart today announced that Sachin Bansal, CEO and Co-founder of Flipkart, will be the Executive Chairman of the company and Binny Bansal, COO and Co-founder of Flipkart, will be the Chief Executive Officer of Flipkart. Super excited to shape the next phase of Flipkart’s journey with @_Sachinbansal https://t.co/EZ3cdyma5Y — binnybansal (@binnybansal) January 11, 2016 In […]