e-commerce | Pixr8 News

18Oct By Press Trust of IndiaNo Comments

FUNDING

BankBazaar Secures $30M Funding From Experian

BankBazaar.com, an online marketplace for financial products, said it has raised $30 million funding, led by credit agency Experian. The company will use the proceeds of the funding to expand its operations in India and overseas markets, strengthen workforce and platform. "Experian is a global leader in credit reporting and information management, and we are very excited to have them on board as a part of our investor group, which includes Amazon, Sequoia, Eight Roads (Fidelity Growth Partners), and Walden International," BankBazaar CEO Adhil Shetty told PTI. The company has raised USD 110 million till date, including the current round. ALSO READ Microsoft Responded Quietly After Detecting Secret Database Hack In 2013 Bharti Airtel Is Selling iPhone 7 at Rs 7,77...

Online E-commerce Firm Infibeam Approved Share Split in The Ratio of 1:10

14Jul By PriyankaNo Comments

Market

Online E-commerce Firm Infibeam Approved Share Split in The Ratio of 1:10

The board of e-commerce firm Infibeam Incorporation today approved share split plan in the ratio of 1:10 that will make its scrip more affordable for the investors and increase market liquidity. The board also cleared amalgamation of CC Avenue with the company in which Infibeam has controlling stake. "The Board of Directors of the Company at its meeting held on Thursday July 13, 2017... has approved..split/sub- division of equity shares of the company from existing face value of Rs 10 per equity share to face value of Re 1 per equity share. Amalgamation of Avenue (India) Private Limited (CC Avenue) with the company," Infibeam said in a regulatory filing. The board also approved altering the capital clause of memorandum of association, in connection with the split of shares, setting ...

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...

Flipkart-Snapdeal Deal: Negotiations On For Higher Offer

6Jul By Press Trust of IndiaNo Comments

News

Flipkart-Snapdeal Deal: Negotiations On For Higher Offer

After Snapdeal board reportedly rejected Flipkart's USD 850 million takeover offer, the two parties are now holding parleys over the USD 150-200 million valuation gap. According to sources privy to the development, Flipkart had initially offered USD 1 billion for the deal but post the due diligence, it made an offer for USD 800-850 million. The offer was rejected by Snapdeal board as it felt the amount undervalues the company as the due diligence report is clean, one of the sources said. "However, the deal isnt off and negotiations will continue. The differences over Snapdeals valuation could delay the process," they added. Emails sent to Snapdeal, SoftBank and Flipkart did not elicit response. SoftBank, Snapdeals largest investor, has been proactively mediating the sale for...

How Bootstrapping Strategy Has Worked Like a Magic In My Startup Business

4Jul By AnkitaNo Comments

Story

How Bootstrapping Strategy Has Worked Like a Magic In My Startup Business

‘When you begin to dream about something that you really like and work hard to achieve it, nothing comes in the way till you are attached with a string of your dream. Let it be there always!’ After working as an employee in ibibo, I decided to join my own venture with the help of my wife, Arti Sharma. Arnit Retail Pvt. Ltd is the parent company of IndiaRush which we started as an e-commerce portal to cater home decor and electronic products. But with passing time, struggle and a lot of arduous effort, we decided to start with apparels, accessory, jewellery and footwear business. Since my college days, I was into mobile marketing and website development. I joined ibibo.com as a software engineer in the mobile department to develop smart games for their app users. It was then when got ...

37 Lacs Looted From Flipkart Delivery Centre in Delhi

28Jun By AnkitaNo Comments

News

37 Lacs Looted From Flipkart Delivery Centre in Delhi

In a first such kind of incident, Flipkart delivery centre in Shahdara’s Jhilmil industrial area was attacked by Four masked men looted ₹37 lakh from the office of Instakart, a delivery station of e-commerce giant. The workers reportedly told the police that four men armed with guns entered the premises and asked them to part with the cash. They threatened us with dire consequences, the victims allegedly told the police. The workers claimed this was the second time the company had been targeted in the past few months. “A similar robbery took place at our Patparganj branch around the same time on March 25”. Police said the accused wore helmets and carried pistols. “There were three employees, including a security guard, in the office. The assailants held them hostage at gunpoint and ...

How Walmart Will Be Benefited From GST in India

26Jun By Press Trust of IndiaNo Comments

News

How Walmart Will Be Benefited From GST in India

Walmart will be benefited by the Goods and Services Tax (GST) which will be a win-win situation for all, the American retail giants top official in India said here today as the landmark tax reform measure is all set to be rolled out on July 1. "For instance, in the medium to long term when it becomes one national unified market, you dont need warehouse in every single state. Thats a big benefit in terms of economies of scale, how one can drive economies of scale," Krish Iyer, president and CEO of Walmart India, told PTI in an interview. "Eventually, if we are able to run the business at lower cost, we will pass it onto the consumers, and the prices of the central commodities can come down, so its a win-win for everyone, for the consumer, for the state, as well as for the business," said ...

Flipkart-eBay India Deal Gets Indian Government Nod

16Jun By Ankita SinghNo Comments

BUSINESS

Flipkart-eBay India Deal Gets Indian Government Nod

E-commerce major Flipkarts proposed acquisition of eBay India has received approval from the Competition Commission. Besides, the fair trade regulator has given nod to eBay Singapores subscription of compulsorily convertible preference shares (CCPS) issued by Flipkart. In a tweet, the Competition Commission of India (CCI) said that it has approved "subscription by eBay Singapore of CCPS issued by Flipkart and acquisition of eBay India by Flipkart". As per the notice submitted to the regulator, the transaction relates to the acquisition of 100 per cent share capital of eBay India by Bangalore based e-commerce firm Flipkart. The transaction also involves the acquisition of certain compulsorily convertible preference shares of Flipkart by eBay Singapore, as per the notice. Earl...

Online retailers like Paytm and 1mg Offer Discounts Ahead of GST

15Jun By AnkitaNo Comments

News

Online retailers like Paytm and 1mg Offer Discounts Ahead of GST

Online retailers like Paytm are offering special discounts to consumers to ensure that their sellers stock is cleared before the GST tax regime sets in from next month. Paytm has a Pre-GST Sale going on, hosting over 6,000 retailers across more than 500 brands. Consumers can get discounts and cashback on a range of product categories like TV, laptops, mobile phones, ACs, refrigerators, DSLRs and footwear, among other items. "This sale has come at an opportune time for offline retailers who are looking to offload their entire inventory before the new tax rates become effective," Paytm said in an emailed response of Pixr8. Even online drug marketplace, 1mg has joined the bandwagon. "Due to GST, there may be shortage of medicines in July. Stock medicines@20 per cent off on 1mg.com to ...

Amazon India Doubles Seller Base to 2 lakh, Google Rolls Out Website With Google My Business

14Jun By AnkitaNo Comments

News

Amazon India Doubles Seller Base to 2 lakh, Google Rolls Out Website With Google My Business

E-commerce major Amazon India today said it has doubled the number of merchants on its e- commerce platform to two lakh in less than a year. Amazon.in has crossed the two million seller base mark in just four years of the companys operations in India, Amazon.in said in a statement. It added that the company has doubled the number in less than a year of crossing the one lakh seller count last July. "This fast pace of adoption has come on the back of various unique, India-first innovations like feet on street teams, self-service registration, Chai Cart and Tatkal," the statement said. It added that partnerships with several national and state government bodies also helped in reaching the milestone. Google rolls out Website with Google My Business Google today launched a new...

14Jun By PriyankaNo Comments

FUNDING

E-commerce Technology Provider Shopmatic Raises $5.7 Million Funding

E-commerce technology provider Shopmatic today said it has raised USD 5.7 million from a group of investors led by venture capitalist firm ACP Pte Ltd and Spring Seeds Capital. The company will use this fund to expand its global footprint. "Shopmatic..has raised USD 5.7 million of Series AA funding led by ACP Pte Ltd, a technology focussed Venture Capital firm, and Sping Seeds Capital Pte," the company said in a statement. The technology firm at present has operators in India, Singapore and Hong Kong. "After having successfully scaled its operations in India, Singapore and Hong Kong, Shopmatic will be using the funds to expand into other markets in Indonesia, the Philippines and the Middle East," the statement said. As part of this round of funding, ACP Managing Partner Same...

Amit Sinha Appointed as a Chief Operating Officer of Paytm Mall

13Jun By PriyankaNo Comments

News

Amit Sinha Appointed as a Chief Operating Officer of Paytm Mall

Amit Sinha has been appointed the Chief Operating Officer (COO) of Paytm Mall. He will now be responsible for its overall operations, including expanding its team to ensure customers across India are able to buy the widest range of products and accept deliveries through our efficient partner logistics network. Amit was serving as the Sr. Vice President of Business in his earlier role. He has looked after HR & financial processes and has been with Paytm since 2008, helping build several new businesses. “Our goal is to build the country’s largest platform that enables trusted partners including brand and merchants in growing their business. We are innovating on multiple aspects of business and offering newer business opportunities for sellers”, said Amit. Paytm have de-merged it...