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Snapdeal Board To Seek Shareholders View On Flipkart Deal

26Jul By Press Trust of IndiaNo Comments

News

Snapdeal Board To Seek Shareholders View On Flipkart Deal

Snapdeal will seek views of its shareholders, including Ratan Tata and PremjiInvest, on the proposed USD 900-950 million buyout deal by Flipkart, a source said. The deal is almost through but there are a few areas of concern and the Board wants to seek views and comments from shareholders on the deal, two people aware of the developments said. (more…)

Paytm Further Delists Logistics Partners To Improve Customer Experience

26Jul By RishabhNo Comments

News

Paytm Further Delists Logistics Partners To Improve Customer Experience

Ecommerce platform Paytm Mall has once again made amendments in its quality control and to get things in order by delisting 6 out of its 14 logistics partners and 30 courier aggregation centres, and restricted delivery to 17,000 pin codes instead of 26,000 pin codes. Paytm cited customer experience and inability to meet service level agreements by the delisted logistics partners as reasons for the decision taken in response to an audit conducted by the marketplace. "None of the logistics partners which have been delisted are venture capital-backed," Sinha said. “We believe, working with fewer retailers and pin codes that leads to a superior customer experience is more important than rapid expansion,” said Amit Sinha, chief operating officer of Paytm Mall. Paytm had revamped its platfo...

Amazon Pumps in Rs 1,680 Crore More in India Unit

6Jul By Press Trust of IndiaNo Comments

BUSINESS

Amazon Pumps in Rs 1,680 Crore More in India Unit

Global giant Amazon has invested an additional Rs 1,680 crore in its India unit as it looks to further strengthen operations in the booming e-commerce market here. The fresh infusion part of Amazons USD 5 billion commitment to Indian market will also provide more arsenal to the Indian entity that is locked in an intense battle for leadership with local rival, Flipkart. Amazon Seller Services (Amazon India) received the funds last month, as per regulatory filings with the corporate affairs ministry. "We remain committed to our India business with a long- term perspective to make e-commerce a habit for Indian customers and invest in the necessary technology and infrastructure to grow the entire ecosystem," an Amazon India spokesperson said in an e-mailed response. In June...

30Jun By AnkitaNo Comments

ANALYSIS

6 Differentiators to Help Your Startup Win the Race

Thousands of startups open and shut every year, forced by a fiercely competitive environment. Below are 6 differentiators that will help you stay above the crowd and prove yourself a winner:- Tell a Captivating Story People love stories and to draw them to yours, you must ensure that they understand where you are coming from. You have to illustrate your pitch in such a manner that people can instantly relate and put themselves in your shoes. It needs to have logic, emotion and recall value. Using the power of storytelling through various channels like emails and social media, you can enhance a brand’s image, significantly. Acknowledge What Makes You Different You are probably not the first one to create your product or service and even if you ar...

Amazon’s Grocery Push Playing Catch Up With Chinese E-commerce Giants

23Jun By reutersNo Comments

CHINA, News, USA

Amazon’s Grocery Push Playing Catch Up With Chinese E-commerce Giants

As Amazon.com Inc looks to swallow U.S. grocery chain Whole Foods, China's tech giants are already digesting hefty bricks-and-mortar deals, taking the lead in the battle to transform supermarket shopping with big data and better supply chains. China's Alibaba Group Holding and JD.com Inc have invested heavily in offline retail - bricks-and-mortar stores - in recent years to complement their online offerings. With their ready-made payment and social media platforms to lure shoppers, Alibaba and JD.com have helped China become the world’s largest online grocery market, far ahead of the United States. This early lead, cemented by densely populated urban areas and cheap labor, could be key as retailers and tech firms race to boost margins on low-cost consumer goods by reinventing supp...

Amazon Global Workshop in Delhi For Entrepreneurs on Global Selling

9Jun By AdityaNo Comments

News

Amazon Global Workshop in Delhi For Entrepreneurs on Global Selling

E-commerce major Amazon will conduct a workshop today to educate small and medium businesses and enable entrepreneurs to sell their products to consumers across the globe. The workshop will focus on Amazons global selling programme that enables easy, simple and convenient access for all Indian sellers to sell their products globally, Amazon said in a statement. The workshop will be held at Saket in Delhi the national capital of India. The e-commerce major launched its global selling programme in India in 2015, which helps Indian businesses take their Made in India products to millions of customers across the globe through 10 global Amazon marketplaces. Commenting on the workshop, Amazon India Head-Global Selling Abhijit Kamra said: "We see immense potential in Delhi and look fo...

Amazon to Add 7 New Warehouses in India, Hire 4,000 people

3May By Press Trust of IndiaNo Comments

BUSINESS, News

Amazon to Add 7 New Warehouses in India, Hire 4,000 people

E-commerce giant Amazon continues to aggressively expand its operations in the country with the addition of seven new warehouses, a move that will provide employment to about 4,000 people. The US-based company, which has committed an investment of USD 5 billion in the Indian market, will have 41 warehouses or Fulfilment Centres (FCs) by the end of June this year. Amazon, which is locked in an intense battle with local rival, Flipkart, has been pumping in funds to expand infrastructure and technology platform in the country. "This (new FCs) will double our storage capacity this year as compared to last year. We continue to invest in strengthening our infrastructure to match our pace of business expansion in India," Amazon India Customer Fulfilment Vice President Akhil Saxena told P...

Amazon Will Keep Investing Billions in India: Jeff Bezos

29Apr By RishabhNo Comments

Entrepreneurs Talk

Amazon Will Keep Investing Billions in India: Jeff Bezos

Global e-commerce major Amazon will keep investing in the Indian market to strengthen technology and infrastructure as it looks to overtake local rival Flipkart. The US-based company has already committed investments to the tune of $5 billion in India. “Our India team is moving fast and delivering for customers and sellers. It’s still day 1 for e-commerce in India, and I assure you that we’ll keep investing in technology and infrastructure,” Amazon founder and CEO Jeff Bezos said in a statement. The world’s second richest man also said “Amazon.in is the most visited and the fastest-growing marketplace in India.” Amazon, which entered India in 2013, has been locked in an intense battle with Tiger Global-backed Flipkart for leadership in the Indian market. Amazon has been aggr...

22Apr By reutersNo Comments

News

Amazon Rolls Out Chatbot

Amazon.com Inc's chief technology officer is working toward a day when people can control almost any piece of software with their voice. The company on Wednesday rolled out the technology powering Alexa, its voice assistant that competes with Apple Inc's Siri, to developers so they can build chat features into their own apps, CTO Werner Vogels said in an interview. The service, Amazon Lex, was in a preview phase since late 2016. The move underscores how Amazon is racing to be the top player in voice-controlled computing, after losing out in mobile to Apple and Alphabet Inc's Google. Vogels said that Amazon's headway in processing how humans write and speak would make conversational assistants or "chatbots" more helpful than the clunky tools they've been in the past. "There's...

Britain Loses 1 Billion Pounds Through VAT Fraud and Error by Amazon and eBay Sellers

20Apr By reutersNo Comments

News

Britain Loses 1 Billion Pounds Through VAT Fraud and Error by Amazon and eBay Sellers

Britain is losing up to 1 billion pounds ($1.28 billion) a year in value added tax (VAT) because of fraud or error by sellers using online marketplaces eBay and Amazon, a report by the government auditor said. The National Audit Office (NAO) said on Wednesday that the sellers involved are often based in China and that consumer regulator Trading Standards had found that U.S. companies Amazon and eBay had failed to remove sellers that were flouting VAT rules, even after being informed of the sellers' non-compliance. "The size of the VAT losses due to online VAT fraud or error on transactions taking place on Amazon’s and eBay’s online platforms could be up to 1 billion pounds a year," the NAO said, citing latest figures from the Trading Standards Institute. All retailers selling to c...

Google, Amazon Looking To Acquire Toshiba’s Chip Unit

1Apr By AdityaNo Comments

News

Google, Amazon Looking To Acquire Toshiba’s Chip Unit

Google and Amazon joined a list of potential buyers eyeing Toshiba's lucrative memory chip business as the Japanese conglomerate seeks bidders to cover huge losses, a newspaper said today. Toshiba has reportedly completed the first round of bidding for its prized memory chip business, seen as key for the cash-strapped company to turn itself around. Some 10 foreign companies and funds, including Google and Amazon, tendered bids, the mass-circulation Yomiuri Shimbun said, quoting unnamed sources. The two US tech giants are expected to use Toshiba's memory chips for their cloud services, the daily said. Taiwan's Hon Hai, which acquired Japanese electronics maker Sharp last year, has apparently bid more than 2 trillion yen (USD 18 billion), the daily said. Immediate confirmation...

Modi Privately Took Amazon to Task Over Insulting Flag Doormat

31Mar By reutersNo Comments

News

Modi Privately Took Amazon to Task Over Insulting Flag Doormat

India's reaction to an Amazon.com website selling doormats resembling the country's flag involved an unprecedented public and private offensive against the US company by Prime Minister Narendra Modi's government, a document shows. Foreign minister Sushma Swaraj publicly threatened in January to rescind visas of Amazon employees if the doormats were not removed from its Canadian website. But a document seen by Reuters shows the government went even further in private, asking its US and Canadian embassies to raise the matter "strongly" with Amazon's senior leadership. India also escalated the matter to Amazon CEO Jeff Bezos and prompted a global audit by the company to "ensure that such products are not listed on any of its other" websites around the world, according to the docu...