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Paytm Appointed Alibaba’s Former Executive as President

25Mar By AnkitaNo Comments

News

Paytm Appointed Alibaba’s Former Executive as President

Paytm, India's mobile payment and commerce platform has appointed ex-head of Alibaba Group Holding's wholesale business, Bhushan Patil as the company's new President. Bhushan Patil joins Paytm as President after serving 5.5 years at the Chinese company, where he was handling operations of Alibaba.com. He will now focus on building Paytm's cross border commerce. At the largest B2B marketplace, Bhushan was instrumental at leading new initiatives for Global Markets business development across SME linked associations, Banks and Government trade organizations, local trade services and e-companies. As a major accomplishment he incepted, led and launched B2B Trade-Trust products across 50 countries in Asia/Europe and Americas and was instrumental developing new India plans for Alibaba.co...

16Mar By AnkitaNo Comments

BUSINESS

India’s First Profitable E-commerce Firm Infibeam Looking to Raise $334 Million in IPO

E-commerce firm Infibeam Incorporation is eyeing a valuation of as much as $334 million as it sells shares next week in the sector's first initial public offering. The company, founded by former Amazon.com employee Vishal Mehta in 2007, set a price range of 360 rupees to 432 rupees per share on Tuesday as it seeks to raise up to 4.5 billion rupees ($67 million) in the IPO. Speaking at a news conference, executives said they expected a dilution of 20 percent to 22 percent in the IPO, which means the company could be valued at 22.5 billion rupees after the share sale. The sale will take place from March 21 until March 23, and trading is set to begin on or around April 4. Although a comparatively small IPO, Infibeam's debut is widely expected to serve as a proxy for stock market i...

2Mar By AdityaNo Comments

FUNDING

Life For One More Year “Jabong” Raises $20 million Fresh Funding

Jabong, India's one of the leading Fashion ecommerce company has raised additional funds by Global Fashion Group (GFG), so that it can stay afloat for one more year. "The board has agreed to put more than $20 million in Jabong," a person who participated in the meeting held in Luxembourg told ET.GFG was founded in 2011 by Swedish Investment AB Kinnevik and German Rocket Internet SE, and operates ecommerce ventures Dafiti in Latin America, Lamoda in Russia and the CIS, Namshi in the Middle East, Zalora in Southeast Asia and Australia while operating Jabong in India. However, Oliver Samwer, CEO of Rocket Internet and deputy chairman at GFG, was not in favour of continuing in India venture, it was Kinnevik that insisted on staying put, leading to which the board eventually agreed to b...

Alibaba’s Ma, Tsai to buy back $500 million in shares

29Feb By reutersNo Comments

News

Alibaba’s Ma, Tsai to buy back $500 million in shares

Alibaba Group Holding Ltd said on Monday Chairman Jack Ma and Vice Chairman Joe Tsai have agreed to buy back a combined $500 million in company shares, part of a $4 billion stock repurchase scheme announced in August. The buyback comes as the e-commerce firm's shares languish at $66.91, more than a dollar off their IPO price of $68, and as it struggles with slowing growth and a gloomy outlook for the Chinese economy. Sina News reported that Ma and Tsai had signed an agreement to use their private funds to repurchase shares worth $500 million. An Alibaba spokesman confirmed the news but declined to give details. In August, Alibaba announced the $4 billion share repurchase programme which would take place over two years and was aimed at offsetting the impact of its share-based compe...

Alibaba in Talks With Several Banks For Up to $4 Billion Loan

26Feb By reutersNo Comments

News

Alibaba in Talks With Several Banks For Up to $4 Billion Loan

Chinese e-commerce giant Alibaba Group Holding Ltd (BABA.N) is in talks with several banks to borrow up to $4 billion to fund expansion plans, including acquisitions, the Wall Street Journal reported on Friday, citing people familiar with the matter. The loan is expected to be finalized next month, one of the people told the Journal. Alibaba has been picking up stakes and buying companies in China and abroad. The company has also been expanding in other areas such as online video and local services as volume growth in core online shopping business slows. Alibaba shares were up 2.2 percent at $68.13 in premarket trading on Friday. Up to Thursday's close of $66.66, the stock had fallen about 18 percent this year.

Alibaba Acquired 33 Million Shares of Groupon Inc.

19Feb By AdityaNo Comments

ACQUISITION

Alibaba Acquired 33 Million Shares of Groupon Inc.

In a filing with the U.S. Securities and Exchange Commission last Friday, Alibaba Group Holding Ltd. revealed that it had acquired 32.972 million shares of class A common stock (about 5.6% of shares outstanding) in Groupon Inc. . After the news published, Groupon’s stock was up more than 20%, touched $20 per share. One week ago, the shares hit an all-time low of $2.15. Alibaba likely filed with the SEC because its stake rose above 5% of Groupon’s outstanding shares. There is no information on how much Alibaba paid for the shares. Groupon had $917.2 million in revenue in the fourth quarter of 2015. That compares to consensus estimates that called for a breakeven in earnings on revenue of $841 million. In the same period last year, it posted $750.36 million in revenue. The coupon...

First Product Manager at Freecharge Made a Platform Where Shopping Decisions Made Simple

18Feb By AnkitaNo Comments

Story

First Product Manager at Freecharge Made a Platform Where Shopping Decisions Made Simple

FindYogi is a shopping decision platform which helps you decide which product to buy and from where. This is achieved through structured and comprehensible data about products backed by expert personalized advice. The main idea is to give enough to a consumer to help them make a confident by decision. What we do different from others is the personalized 1-to-1 advice from an expert. While there are many sources on the web that serve generic data, FindYogi gives you contextual personalized advice. FindYogi was launched in June 2013. The aim was to help consumers make better buying decisions. We initially believed that feature scores, filters, sorting, comparison etc. would be enough to drive decisions. What we realized later is that these features only capture spec-sheet driven facts ...

Worried Analysts Question Amazon’s Logistics Plans

29Jan By AnkitaNo Comments

News

Worried Analysts Question Amazon’s Logistics Plans

In the wake of Amazon.com Inc's disappointing financial results that sent shares plunging Thursday, analysts blamed rising costs to deliver goods, which increased to $4.5 billion in the quarter, up 24.4 percent from the same quarter last year. And they sharply questioned the company's plans to continue to make heavy investments in logistics, even at the expense of profits. They wondered why it was planning to buy more assets like trucks, and reportedly to lease jets, and worried it planned to spend the money to take on shippers like United Parcel Service Inc. "The so-called (earnings) miss was half fulfillment and half marketing," said Michael Pachter, a managing director of equity research at Wedbush Securities. The growing popularity of Prime, which promises free, two-day del...

Amazon India net loss widens to Rs 1,724 Cr, Registered a Six-Fold Increase in Sales

25Jan By NitishNo Comments

News

Amazon India net loss widens to Rs 1,724 Cr, Registered a Six-Fold Increase in Sales

MUMBAI: As per the report, Amazon India Losses in business goes up to Rs 1,724 crore in the year ended March 2015. The reason of such a huge loss occurred because of Amazon's expenses was due to higher advertising, sales and promotion costs of almost Rs 1,405 crore, almost equivalent to the combined marketing spends of Godrej Consumer, Dabur and Marico. However, Amazon Seller Services registered a six-fold increase in sales to Rs 1,022 crore in 2014-15 from Rs 169 crore a year earlier, according to a filing with the Registrar of Companies on Saturday. The combined losses of the 'Big 3' online firms including Flipkart and Snapdeal to Rs 5,052 crore as they hunted for buyers by offering deep discounts. Flipkart, India's largest e-commerce firm, reported a loss of about Rs 2,000 ...

China’s Baidu in talks with Indian e-commerce start-ups for funding

13Jan By reutersNo Comments

BUSINESS, News

China’s Baidu in talks with Indian e-commerce start-ups for funding

Baidu Inc, a Chinese web services company, is in talks to invest in Indian e-commerce start-ups including Zomato, BookMyShow and BigBasket, a spokesman for China's top online search provider said on Wednesday. "The Indian market represents an enormous opportunity for us to connect more people with services, and we plan to put more resources there in the future," the spokesman told Reuters by email. Baidu declined to comment on possible investment amounts or time frames. India's technology start-up market is booming as more and more people shop online, in a country where about 20 percent of a population of 1.3 billion are connected to the Internet. The e-commerce market could grow in terms of the value of goods sold to $220 billion by 2025 from $11 billion in 2015, Bank of America Merr...

Breaking: Binny Bansal New CEO of Flipkart

11Jan By NitishNo Comments

News

Breaking: Binny Bansal New CEO of Flipkart

Flipkart today announced that Sachin Bansal, CEO and Co-founder of Flipkart, will be the Executive Chairman of the company and Binny Bansal, COO and Co-founder of Flipkart, will be the Chief Executive Officer of Flipkart. Super excited to shape the next phase of Flipkart’s journey with @_Sachinbansal https://t.co/EZ3cdyma5Y — binnybansal (@binnybansal) January 11, 2016 In his role as Executive Chairman of Flipkart, Sachin will provide strategic direction for Flipkart, mentor the senior leadership of the company and look for new investment opportunities. He will play an active role in championing the Indian e-commerce sector and building the internet ecosystem, and represent the company in external forums. Sachin will continue to be the Chairman of the Board. Sachin Bansal, Co-fou...

Barkha Dutt and Shekhar Gupta Launched Their First Online Venture “The Print”

8Jan By PriyankaNo Comments

News

Barkha Dutt and Shekhar Gupta Launched Their First Online Venture “The Print”

Shekhar Gupta and Barkha Dutt, two very renown Indian Journalist launched their first online venture The Print, a news media start up. The platform was formaly announced in a first event of The Print called "Off the cuff". However the website has not launched yet. We are waiting to see how the things will goes from here. Barkha @bdutt and I are thrilled to roll out the first small steps in the launch of ThePrint @theprintIndia which we are co-founding — Shekhar Gupta (@ShekharGupta) January 7, 2016 //platform.twitter.com/widgets.js Shekhar @ShekharGupta and I are thrilled to roll out the first small steps in the launch of ThePrint @theprintindia which we are co-founding— barkha dutt (@BDUTT) January 7, 2016 //platform.twitter.com/widgets.js Senior Journali...