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ShopClues Revenues Grow 60%, Losses Down to 40%

26Mar By NitishNo Comments

ANALYSIS

ShopClues Revenues Grow 60%, Losses Down to 40%

India based online e-commerce platform ShopClues revenues grow 60 percent this fiscal, while losses have been trimmed by almost 40 percent compared to the previous year as per the press release published by the company. The Gurgaon-based company focusses on categories like fashion and strengthening position in tier III cities and beyond to push the growth. Shopclues will see the competition in this segment from the leading players like Flipkart and Amazon. Both leading online e-commerce players are also confident of hitting profits in the next 12-18 months. The CEO of Shopclues Sanjay Sethi said, "2017 was spent ensuring that the company has the right revenue margins" without any discounting or heavy spending on warehousing adding to its costs. 2018 will be about continuing the growth....

Alibaba Invests $2 Billion in Lazada, Also Lead the Operation

19Mar By NitishNo Comments

FUNDING

Alibaba Invests $2 Billion in Lazada, Also Lead the Operation

Alibaba, China's leading e-commerce company will appoint one of its founders Lucy Peng as head of Lazada and also invested around $2 billion into Southeast Asia's leading online shopping firm. The appointment and funding will use to expand the operations in the south-east Asia region. Alibaba is the leading investor in the Lazada group, owns 83% shares. Earlier the e-commerce company was invested total $2 billion in two rounds of funding. As per the information, Alibaba with these investments trying to acquire both online and offline assets to further bolster its business. Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam are the leading market for the e-commerce company having 560 million consumers in the region. Lazada Group was founded in 2011 by German ...

Koovs Seeks £23 Million for Indian Market Expansion

12Mar By Sheldan RungasamyNo Comments

FUNDING

Koovs Seeks £23 Million for Indian Market Expansion

London-listed fashion e-commerce company, Koovs announced its plan to raise 22-23 million pounds this year in a bid to accelerate its growth plans and expand its presence in the Indian e-commerce market. This decision comes amidst dropping sales reports in the UK market. It also announced its willingness to raise 50 million pounds funding, as their cash reserves are not significant. “We will need up to GBP 50 million to fund our acceleration plan. This will be done in tranches. This year, we are looking at about GBP 22-23 million, which we expect to, close in the new few months,” said Koovs Chairman, Waheed Alli. Sales are a big matter of concern presently and the company could not hide its incertitude about the future. The company recently revealed H1 gross sales were flat at 7.9 mi...

Delhi Based Vinculum Solutions Raises 82 Lakhs from Existing Investor

10Mar By NitishNo Comments

FUNDING

Delhi Based Vinculum Solutions Raises 82 Lakhs from Existing Investor

This Delhi based e-commerce software solutions provider Vinculum solutions has received additional ₹82.9 Lakhs from existing investor, the founder & CEO of Plaza Premium Group Song Hoi See in Series B round. The startup has so far raised total 70 Crore funding, in which Song Hoi invested 1.7 Crore. The company, Vinculum Solutions Private Limited, has allotted 82,202 Series B4 preference shares of ₹20/- at a premium of ₹80.85/- each. Vinculum Solutions kicked off its Series B raise in February 2014 with investment from IvyCap Ventures. Existing investor Accel Partners also participated in the round. Vinculum Group, a global software company that enables the e-commerce ecosystem with its SaaS-based products. The Saas product enables them to sell online via own webstores or ac...

Amazon Launched Prime Music Service in India

28Feb By NitishNo Comments

News

Amazon Launched Prime Music Service in India

E-commerce platform Amazon India launched its ad-free music streaming service today. The service will available for zero cost to its Prime members. "With ad-free streaming at no additional cost to the Prime members, we offer a welcome break from text and voice ads that come between the music," said Sahas Malhotra, director at Amazon Music India. We’ve tied up with the biggest music labels. We’ve put together tens of millions of songs all ad free & at no additional cost to Prime membership.We’ve kept you waiting, but no more. @AmazonIn announces the launch of @AmazonMusicIN @Sahasm. Find out more: https://t.co/VWIH8CMOnM pic.twitter.com/S1RmVMHR0v — Amazon India News (@AmazonNews_IN) February 28, 2018 The service offers unlimited offline downloads and includes a wide range...

Paytm Launches Cashless Store in tie-up with Red Tape

15Feb By Sabhyata AgarwalNo Comments

News

Paytm Launches Cashless Store in tie-up with Red Tape

The Indian e-payment application Paytm that acts as an ultimate saviour in times of limited or no physical cash, has now introduced a new feature for its users, adding to its previous long list of characteristics. The Payment through Mobile platform which enables its registered users to recharge, pay&receive, book tickets and buy products and services on discount through the Paytm Mall, have now added one more feature that can vividly provide a customer "Offline as well as Online experience at the same time." This concept is launched in collaboration with REDTAPE, a multi store offering wide range of products like apparel's, accessories, footwear etc. This concept lets a user visit the store physically, choose the product by confirming the size and cost, and then bu...

Dubai Based E-commerce Platform ‘Mumzworld’ Raises its Largest Ever Funding

12Feb By PriyankaNo Comments

MIDDLE EAST

Dubai Based E-commerce Platform ‘Mumzworld’ Raises its Largest Ever Funding

MENA (Middle East North Africa) based Mumzworld, an e-commerce platform dedicated to mothers, babies and children has recently raised its fifth and largest round of funding. The fresh funding will be utilized to implement its regional growth plans. The funding round was led by Swicorp, an investment banking firm that offers corporate finance advisory services focusing on MENA and Wamda, MENA's leading venture firm investing in startups. Apart from them, the round also saw participation from Tamer Group and FMCG company. Existing investors of Mumzworld include- Wamda, WSB Holding, Precinct Capital, Riverbank Technologies and Saned. The e-commerce startup has also seen some quick funds from prominent Saudi groups operating in adjacent segments. The mother and childcare e-commerce po...

Patanjali Goes Online, Aims Over Rs 1,000 Crore Sales in 2018

17Jan By kriti singhNo Comments

BUSINESS

Patanjali Goes Online, Aims Over Rs 1,000 Crore Sales in 2018

Baba Ramdev-led Patanjali Ayurved today announced its foray into e-commerce for its FMCG items, partnering major players in the space, including Amazon and Flipkart, and targeting over Rs 1,000 crore this year itself. The Haridwar-based company said it has partnered eight players, which also include Grofers, Shopclues, BigBasket, 1mg, Paytm Mall and Netmeds, through which its entire range of products would be available online. Besides, Patanjali said it will also expand into new product segments such as bottled water through brand 'Divya Jal' and apparels and footwear under the brand name 'Paridhan' this year. "Online mechanism aims to provide convenient and efficient options along with extension of traditional retail market", said Baba Ramdev. He further added: "We are target...

30Nov By PriyankaNo Comments

FUNDING

SoftBank Group To Acquire More Stakes In Flipkart, Valuing It At $10B

Japanese multinational telecommunications corporation SoftBank Group has offered to buy shares from investors and former and existing employees of Indian e-commerce website Flipkart, valuing it around $9-10 billion. SoftBank has offered to buy Flipkart shares at $85-89 per share, Mint reported. The price range values Flipkart slightly lower than the pre-money valuation it clinched in two funding rounds of $1.4 billion each, one from SoftBank in August and the other from eBay Inc., Microsoft Corp. and Tencent Holdings Ltd in April. SoftBank's move is a part of its August commitment to pick up additional stakes in the e-commerce giant. Out of the total $2.5 billion investment commitment, SoftBank will use around $1.2-1.4 billion in buying out shares of other investors and employees....

SoftBank In Talks To Invest $500M In Paytm Mall

28Nov By AdityaNo Comments

FUNDING

SoftBank In Talks To Invest $500M In Paytm Mall

After investing in Indian e-commerce majors Flipkart and Snapdeal, Japanese multinational conglomerate SoftBank Group is now set to invest in another Indian e-commerce space Paytm Mall. It is estimated that Paytm Mall may receive a funding around $500-600 millions in a fresh round. As per the reports, SoftBank will put around $300 million into the e-commerce venture operated by Vijay Shekhar Sharma's Paytm E-commerce Pvt Ltd. Paytm Mall has already received funding from Chinese e-tailing company Alibaba, which now holds a majority stake in the company. Also, SoftBank is one of the investors of One97 Communications, the parent company of Paytm wallet and holds around 20 percent. The telecom conglomerate already holds majority stakes in Snapdeal, which it tried to merge with Flipkar...

28Nov By PriyankaNo Comments

FUNDING

Lifestyle Brand Chumbak Raises Fresh Funding

Lifestyle brand Chumbak Design Private Ltd has raised around $13 million in a fresh round of funding led by mid-market private equity firm Gaja Capital, as per the reports by a financial daily. The round also saw participation from its existing investors Matrix Partners India and Seedfund who invested a sum of Rs 22 crore and Rs 6 crore respectively, with Gaja Capital investing Rs 52 crore alone. Besides the institutional investors, Narayan Ramachandran, operating partner at Gaja Capital, also invested in his personal capacity, the report added. This round will take the total funding raised by the company to $24 millions, in both equity and debt. Founded by husband-wife Vivek Prabhakar and Shubhra Chadda, Chumbak aims at top 5-6 metro cities and will showcase its products through ...

Gang Posing As Sellers Robbed Flipkart Off Rs 17 Lakhs

18Nov By AdityaNo Comments

News

Gang Posing As Sellers Robbed Flipkart Off Rs 17 Lakhs

[dropcap]A[/dropcap] group of nine people posing as online sellers exploited Flipkart's Seller Protection Fund (SPF) and cheated the billion dollar e-commerce giant. The fraud was being committed since the early 2017 where a group of posers, registered as Flipkart's online seller found a work-around to cheat the company. As per the police report, they studied the SPF scheme that guarantees an automatic refund to the seller if the sold product goes missing or is damaged in transit in case of a return from the customer and plotted to take the company for a ride. Possibly operating out of West Bengal, the gang had registered as different sellers and started shipping their products via Flipkart's logistics services. Every time the customers returned the product stating that the product i...