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Tata Communications Inked a Deal with Alibaba Cloud

10Jun By PriyankaNo Comments

News

Tata Communications Inked a Deal with Alibaba Cloud

Tata Communications today inked a deal with Alibaba Cloud to enable customers from India and 150 other countries to connect to the Chinese e-commerce giants Express Connect platform for a fast, stable and secure network. The Express Connect will be linked through Tata Communications IZO Private Connect service. This collaboration was announced at Alibaba Clouds Computing Conference in Shanghai today. It is particularly focused towards enterprise customers from over 150 countries, including India, who employ the services of Alibaba Cloud. Under the deal, the global enterprises will now have immediate access to a secure connection between the Virtual Private Clouds (VPC), the Internet and end-users own networks. Yeming Wang, Deputy General Manager of Alibaba Cloud Global said...

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...

30May By Ankita SinghNo Comments

News

Snapdeal HR Head Resigned

Snapdeal continues to lose members from top leadership, the latest to join the list being its Human Resources Head Saurabh Nigam. Nigams exit comes amid talks of a potential sale of the e-commerce firm to larger rival Flipkart. A Snapdeal spokesperson confirmed the development. "After spearheading Snapdeals Human Capital function for more than three years, Saurabh Nigam has decided to move on to pursue further career interests in a field close to his heart," the spokesperson said in an e-mailed response. Post the transition, Pravin Kutty, Associate Vice President - HR and Administration, will head the Human Capital function, the spokesperson said. Snapdeal, over the past many quarters, has seen exit of senior executives like Tony Navin, Sandeep Komaravelly, Anand Chandrasekaran...

Snapdeal Raises 113 Crore Emergency Fund From Nexus Ventures and Founders

30May By PriyankaNo Comments

FUNDING

Snapdeal Raises 113 Crore Emergency Fund From Nexus Ventures and Founders

Snapdeal has raised over Rs 113 crore from early investor Nexus Venture Partners and founders Kunal Bahl and Rohit Bansal, amid talks of a potential sale of the e-commerce firm to larger rival Flipkart. NVP pumped in Rs 96.26 crore in the round, while Bahl and Bansal contributed Rs 8.45 crore each, according to regulatory filing with the Ministry of Corporate Affairs. The shares were allotted on March 10, 2017, it added. Bahl and Bansal were allotted 1,300 Series J preference shares, while Nexus was given 14,810 preference shares, the filings showed. It is not clear how long the fresh financing round will help Snapdeal in continuing operations as it faces intense competition from rivals Flipkart and Amazon. E-mails sent to NVP and Snapdeal remained unanswered. The cash-strapped firm,...

Dubai Based Emaar Malls Acquire 51% Equity in E-commerce Website Namshi

24May By PriyankaNo Comments

ACQUISITION

Dubai Based Emaar Malls Acquire 51% Equity in E-commerce Website Namshi

Dubai based billionaire Mohamed Alabbar firm Emaar Malls acquires 51 percent stake in Rocket Internet backed e-commerce website Namshi.com for $151 million. This is a second acquisition in two months which shows a sign of growing demand for tech deals in the Middle East. After failing to acquire Souq.com, Emaar malls left no space for others this time. The 51 percent equity was belong to Rocket Internet. The recent move by Emaar malls comes on the prediction of the e-commerce in Middle east will grow to $20 billion by 2020. Both Emaar and GFG group (Namshi parent company) said they had agreed to jointly develop the business until a possible listing or a full takeover. Namshi, which operates in the GCC region like United Arab Emirates, Saudi Arabia, Qatar, Kuwait, Oman and Bahrain...

Flipkart Named Most Sought After Employer in LinkedIn India Survey

18May By Press Trust of IndiaNo Comments

ANALYSIS

Flipkart Named Most Sought After Employer in LinkedIn India Survey

Flipkart has been named the top employer followed by Amazon and KPMG India in the second and third place respectively, according to a list compiled by internet professional network LinkedIn. Others in the top 10 of LinkedIn Indias most sought- after employers list include One97 Communications at the fourth place, Ola (5th), HCL Technologies (6th), Adobe (7th), Alphabet (8th), OYO Rooms (9th) and Reliance Industries at the 10th place. The list of 25 top companies in India also saw over 30 per cent of new entrants, namely One97 Communications, Tech Mahindra (14th), Swiggy (15th), IDFC Bank (17th), Vodafone (20th), Grofers (22nd), McKinsey & Company (24th) and Oracle (25th). Among the companies showing significant improvement in the list include Ola from last years 10th rank to 5...

Snapdeal Board Will Discuss Sellout Possibility to Flipkart Tomorrow

2May By Ankita SinghNo Comments

News

Snapdeal Board Will Discuss Sellout Possibility to Flipkart Tomorrow

The board of e-commerce marketplace Snapdeal is expected to meet tomorrow to discuss the potential sale of India's third largest e-commerce firm to larger rival Flipkart. Also, on the agenda will be getting Nexus Venture Partners (NVP), an early investor in Snapdeal, to agree to the sale deal. The approval of Nexus Venture Partners will be crucial for the proposed transaction to proceed, according to sources close to the development. The seven-member board of Jasper Infotech, which operates Snapdeal, includes representation from investors SoftBank, Kalaari Capital and Nexus Venture Partners (NVP), as well as co-founders Kunal Bahl and Rohit Bansal. The valuation of Snapdeal is believed to be one of the hurdles to the deal, as Kalaari and NVP were not in agreement with the valuatio...

1May By Ankita SinghNo Comments

News

ShopClues Expanding its Fashion Business To Hit Profit Goal

ShopClues is expanding its fashion business by bringing on board more local brands and enhancing product offerings, a move that will steer the e-commerce marketplace towards overall profitability. ShopClues, which focuses on value and mid-price segments, aims to hit overall profitability by the first half of 2018- 19. Talking about the lifestyle segment, ShopClues Co-Founder and Chief Business Officer Radhika Aggarwal said the current size of Indias apparel and lifestyle market is estimated to be over USD 90 billion but only 2 per cent of this is online. "However, this (lifestyle) is also the fastest growing category and reaches 24 per cent of online consumers in India," she told Pixr8. The lifestyle segment is fast growing with intense competition among not just fashio...

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...

21Apr By AnkitaNo Comments

News

Flipkart Tightens Return Policy Rules

India's leading e-commerce platform Flipkart tightened its return policy rules on its platform. The e-commerce giant latest move won't offer refunds on a multitude of products like mobile accessories, personal care appliances, computer and camera accessories, office equipment, apart from high-cost items such as mobile phones, large appliances and furniture. "If a defect is determined within the 10-day period following delivery/installation, a replacement of the same model will be provided at no additional cost but if no defect is confirmed, the issue is not diagnosed within 10 days of delivery, a troubleshooting step cannot be performed, or if one replacement has already been provided, you will be directed to a brand service centre to resolve any subsequent issues", states company po...

Snapdeal Founders Summoned For Usurping Marketing Concept

16Apr By PriyankaNo Comments

News

Snapdeal Founders Summoned For Usurping Marketing Concept

E-commerce major Snapdeal's CEO Kunal Bahl and two others have been summoned by a Delhi court on a criminal complaint of an entrepreneur who alleged that his idea of connecting sellers and buyers through an e-platform was unauthorisedly usurped by the firm and its officials. Additional Sessions Judge R K Tripathi issued notice to Snapdeal CEO Kunal Bahl, COO Rohit Bansal and its former chief financial officer (CFO) Vijay Ajmera for allegedly cheating entrepreneur Gaurav Dua's concept of "non-inventory holding marketplace model for retail" in the garb of collaborating with him. "Heard. Record perused. Issue notice of revision petition to respondents vide all prescribed modes returnable for May 17, 2017," the judge said. Dua had lodged a criminal complaint against the founders and t...

Flipkart Offers Additional ESOPs to Eligible Employees

13Apr By AdityaNo Comments

News

Flipkart Offers Additional ESOPs to Eligible Employees

E-commerce major Flipkart will issue additional shares to eligible employees in efforts to ensure their stake remains at a "steady level" after the latest fund raising round that came at a lower valuation. The Bengaluru-based firm, which competes with the likes of Amazon and Snapdeal, has recently raised USD 1.4 billion at a valuation of USD 11.6 billion. This is lower than the previous funding raised in 2015, when Flipkart was valued at USD 15.2 billion. Employees who are part of ESOP (employee stock option plan) programmes across the Flipkart group, including Myntra and PhonePe, were informed of the move through an email. Flipkart Group CEO Binny Bansal said the differential grant was being made, so that the total dollar value of options allotted to an employee remain unchang...