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Over $8 Billion Funding in Mobile-Based Startups in 5yrs: Report

28Jun By Press Trust of IndiaNo Comments

ANALYSIS

Over $8 Billion Funding in Mobile-Based Startups in 5yrs: Report

With mobile phones contributing 40 per cent of all e-commerce sales in India in 2015, startups in m-commerce, video streaming, gaming and m-payment segments attracted USD 8,053 million worth of funding through 394 early stage deals in the last five years, a report said. The highlights of the Annual Indian Mobile Ecosystem Report, by News Corp VCCircle showed startups in these four segments are identified as major contributors to driving mobile data consumption. M-commerce and mobile payments attracted investment deals of USD 7,930 million cumulatively, in the last five years, it said. Across the four segments, 2015 saw a surge in terms of deal volumes with 115 early stage funding deals amounting to USD 2,857.73 million against 87 deals worth USD 3,285 million in 2014. "With a m...

18Jun By Press Trust of IndiaNo Comments

INDIA

Indian Govt Plans to Launch Postal Payments Bank By September

Union Minister Ravi Shankar Prasad today said the Centre plans to launch Postal Payments Bank in September with the aim to make it the world's largest bank. "I had plans to launch the proposed Postal Payments Bank, which can be described as moving ATM, in next three years but when the proposal was taken up in the cabinet, I was asked to introduce it by September 17," the Union Telecommunication and IT Minister said at a Vikas Parv function here. The minister said the officials of the department have been directed to initiate necessary steps to launch it by September 16/17. The proposed bank will be introduced in 650 districts across the country, he said, "we have plans to introduce in 1.30 lakh post offices in the rural belts". The Postal Payments Bank will provide banking services...

10Jun By AdityaNo Comments

News

Maxus Bags Media PR Rights of Tata CLiQ

Global communications consultancy Maxus today said it has bagged the media mandate for Tata Groups e-commerce platform Tata CLiQ, following a multi-agency pitch. The mandate involves management of all media across television, print, radio, cinema and will be handled from Maxus Mumbai office. "In a category cluttered with product forward, sales, discount advertising or high-end fashion and lifestyle imagery that is indistinguishable from one brand to the other, we chose to tell a quirky tale using camels and associating them with the guarantee of finding authentic and genuine products at TataCLiQ.com," Tata CLiQ Head ? Marketing Prathyusha Agarwal said in a statement. "With a novel proposition and communication idea, we are sure that we will build a strong salient brand. We believe...

Indian FMCG Dabur is Ready to Enter Into E-commerce Space

8Jun By PriyankaNo Comments

News

Indian FMCG Dabur is Ready to Enter Into E-commerce Space

Homegrown FMCG major Dabur is gearing up for a bigger play in the e-commerce segment in India to tap potential of the fast growing sector. The company which has ventured into online cosmetics and beauty products through NewU, run by its wholly-owned arm H&B Stores, is also working on another platform DaburUveda.com to enhance its presence in the e-commerce space. "We do see that e-commerce is going to expand in a very big way. Thanks to technical development and increased mobile phone penetration, the e-commerce opportunity is going to be very very big. We feel that it is going to expand further in the middle and long term scenario," Dabur India CFO Lalit Malik said. Commenting on Daburs activities in the space, he said: "Although we are growing in the e-commerce side,...

Sony Generates 1200 Cr Revenue From IPL 9

6Jun By PriyankaNo Comments

BUSINESS

Sony Generates 1200 Cr Revenue From IPL 9

Broadcaster Sony Pictures Networks India (SPN) has mopped up Rs 1,200 crore in advertising revenue from Indian Premier Leagues (IPL) ninth season, a growth of 20 per cent over last year. It had clocked an advertising revenue of Rs 1,000 crore from IPL 8. "We have had a 20 per cent growth in revenue. This was largely based on the change in (advertising) rates," SPN India President Rohit Gupta said. SPN had hiked its advertisement rate by 15 per cent for IPL this year. The spot rate for sponsors was Rs 5.25 lakh. The spot buy rate was Rs 5.75 lakh for standard definition channels, while for HD, price was between Rs 1.50 lakh to Rs 1.80 lakh for 10-seconds. Gupta had earlier said that there was an unprecedented interest from advertisers for this years IPL and it was for...

Times Group Will Invest 500 Crores in Flipkart

4Jun By AnkitaNo Comments

News

Times Group Will Invest 500 Crores in Flipkart

Bennett, Coleman and Co. Ltd (BCCL) also known as Times Group would like to invest in Flipkart Ltd, India’s largest e-commerce firm. The amount is about Rs.500 crore for small equity. The deal is partly by cash and ads, as per mint report said. As per the report, Flipkart will issue shares to BCCL in return for cash and ads of its media properties such as The Times of India, The Economic Times newspapers and ET Now and Times Now channels for several years. Flipkart and Times Group has not confirmed yet. Theoretically, at Flipkart’s presumed $15 billion valuation, aRs.500 crore deal would translate into a 0.5% stake. If the Flipkart deal goes through, it will boost BCCL’s already strong connections with India’s booming start-up business. BCCL struck a similar deal with online...

Swachh Bharat: 94% People Willing to Be Part of E-commerce Packaging Reuse

31May By AnkitaNo Comments

News

Swachh Bharat: 94% People Willing to Be Part of E-commerce Packaging Reuse

IANS- With e-commerce rapidly growing in India, a survey has said that 94% people want to be part of any initiative for recycling of packaging material and contribute to the cleanliness campaign. "94% people surveyed said that they would be willing to recycle for a small incentive," said the survey by LocalCircles, a citizen engagement platform. The participants were asked if they would take part in box recycling programme towards the cause of Swachh Bharat (Clean India) if e-commerce companies or their affiliates collected empty goods boxes for a small shopping credit. The survey report has also been shared with the Urban Development Ministry and the Commerce Ministry. According to an Assocham report, digital commerce market in India has grown steadily from $4.4 billion in 2010 to...

TataCLiQ.com – First of its Kind Phygital E-commerce Platform in India

28May By NitishNo Comments

Story

TataCLiQ.com – First of its Kind Phygital E-commerce Platform in India

The Tata group today announced the opening of its E-commerce portal, TataCLiQ.com for customers. TataCLiQ.com, the first-of-its-kind multi-brand Phygital E-commerce marketplace will seamlessly blend online and in-store shopping experience for discerning customers. TataCLiQ.com is the first E-commerce marketplace to offer customers the choice of making purchases not only from their website (http://www.tatacliq.com) but through the mobile apps (iOS and Android platforms) on Day one. At the launch, customers will be able to access a wide and well-curated range of top brands across the apparel, electronics and footwear categories, including many brands that are exclusive to TataCLiQ.com. There are a host of international fashion and luxury labels, offering products that are...

Flipkart Offers Rs 1.5 lakh Compensation To IIM-A Students on Differ Joining Date

26May By AnkitaNo Comments

News

Flipkart Offers Rs 1.5 lakh Compensation To IIM-A Students on Differ Joining Date

IIM-Ahmedabad and Flipkart were locked in a face-off on Thursday with the e-commerce major refusing to honour its job commitment to students of the prestigious institute until December, as against June promised earlier, but offered a compensation for the intervening period. While the Bengaluru-based company cited restructuring of its businesses as the reason behind deferring the joining dates for campus recruits, IIM-A said its students have already been getting job offers from other companies and they are looking at these opportunities. IIM-A placement committee chairperson Asha Kaul said the company is firm on its earlier stand that students can only join in December rather than June and for that new hires will be paid a compensation of Rs 1.5 lakh each. Efforts by the i...

Chinas Tiens Group to Enter Indian E-commerce Market

22May By Press Trust of IndiaNo Comments

News

Chinas Tiens Group to Enter Indian E-commerce Market

China Tiens Group plans to foray into the fast growing Indian e-commerce market to take on the likes of Flipkart and Amazon as the firm plans to set up its marketplace by the second half of the year. The group also plans to expand direct selling business in the country and expand user base to one crore over the next five years. "We plan to sell 3,000 products from the online shopping platform, which would be ready in the second half of the year. Indian customers will be able to buy products from different countries on the platform," Tiens South Asia Region President Kevin Hou told PTI. The Indian e-commerce market is estimated to touch USD 119 billion (Rs 8 lakh crore) by 2020. In March, the government allowed 100 per cent foreign direct investment (FDI) in online retail of goods an...

21May By AnkitaNo Comments

News

Sorry We Messed Up Says Myntra

India's leading fashion website Myntra apologise in an official company blog on Friday for a major technical glitch. Yesterday, Myntra unintentionally sent many notifications to its users. The fault was causes due ti mobile notifications updation. Myntra relised the mistake and posted a blog of this technical glitch and said sorry for this mess up. On Thursday, May 19, at around 2:00 pm, the notifications team of Myntra updated fleet of notification servers with a code change. It took about 3 minutes for the deployment systems to update all notification servers with the change. Within minutes of the code-push, our users, including several employees started reporting that they were getting bombarded with notifications, unrelated to their interactions with Myntra. The team immediately...

80 Percent of India Preferring to Shop Online Instead of Visiting Stores – Report

20May By AdityaNo Comments

ANALYSIS

80 Percent of India Preferring to Shop Online Instead of Visiting Stores – Report

Online shopping is more popular among consumers with 80 per cent of buyers preferring to shop over the Internet instead of visiting different stores to purchase their favourite products, according to a new survey. The study undertaken jointly by Yahoo and Mindshare analyses the shopping behaviour of customers to reveal that 31 per cent shoppers opt for online shopping in order to save the time and effort that might be spent on physically going to stores to buy the same products. About 28 per cent customers are driven to buy online due to the availability of discounts and promotions while the convenience to shop anywhere, anytime attracts the remaining 21 per cent, it said. The study also highlights how more and more customers are taking to mobile phones to make online purchases as c...