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Amazon CEO Jeff Bezos and wife MacKenzie to divorce

10Jan By reutersNo Comments

News

Amazon CEO Jeff Bezos and wife MacKenzie to divorce

Amazon.com Inc founder and Chief Executive Jeff Bezos and his wife MacKenzie Bezos are divorcing after 25 years of marriage, the couple said on Twitter on Wednesday. Jeff Bezos, 54, has a fortune that has soared as high as $160 billion thanks to his stake in Amazon, which again became Wall Street’s most valuable company this week, surpassing Microsoft Corp. Bezos has credited MacKenzie, 48, for her support when he uprooted the young couple to Seattle from New York to launch Amazon, an online bookseller that grew into the world’s largest internet retailer. MacKenzie Bezos, a Princeton graduate who is now a novelist, did accounting for Amazon for its first year after it was founded in 1994. The couple decided to divorce after a long period of “loving exploration” and trial separ...

Walmart Acquired E-commerce Platform Flipkart Forays Into Mobile Insurance

7Oct By PriyankaNo Comments

News

Walmart Acquired E-commerce Platform Flipkart Forays Into Mobile Insurance

Walmart acquired India's e-commerce platform Flipkart said it's foraying into the insurance segment after securing a corporate agent license. To begin with, Flipkart has partnered with Bajaj Allianz General Insurance to offer customised insurance solutions to power its mobile phone protection programme for all leading mobile phone brands that are sold on its platform, Flipkart said in a statement. It added that under the programme, it will offer both cash payout option or free pick up, service and drop convenience to customers. The insurance offering will be available from 10 October, the start of Flipkart’s The Big Billion Days (TBBD). “In line with our customer-first policy and as the market leader in this segment, insurance felt like the logical next step in providing consum...

Finally Walmart Completed $16 Billion Flipkart Deal

19Aug By AnkitaNo Comments

News

Finally Walmart Completed $16 Billion Flipkart Deal

US-based retail giant Walmart has now completed the deal with Flipkart to hold its 77 percent stake. After the closure, Flipkart's future financial activities will be reported by Walmart International Business. Besides the acquisition part, Walmart also infused USD 2 billion of equity funding in Flipkart business. In the press release company said, "With the completion of the investment, Walmart now holds approximately 77 per cent of Flipkart. The remainder of the business is held by other shareholders, including Flipkart co-founder Binny Bansal, Tencent, Tiger Global and Microsoft Corp,". It added that Flipkart's existing management team will continue to lead the business. "Our investment will benefit India by providing quality, affordable goods for customers, while creating new...

Top Ecommerce Companies of India After Flipkart Acquisition

18Jun By Lavina TolaniNo Comments

Story

Top Ecommerce Companies of India After Flipkart Acquisition

India's technology industry is bracing itself for the next era of e-commerce warfare, especially after the mega Walmart-Flipkart deal has come into play. While the acquisition has returned a lot of liquidity in the ecosystem, it has also sparked off a maiden opportunity for new entrepreneurs and investors, adding to the wait for the $100 Bn Indian internet giant to go on. So With Flipkart's already gone to American giant Walmart, which companies should be considered next players to make it big within e-commerce landscape? Well, there are some prominent names that have it in them to create "the Flipkart wave" back again. The names in the list have been chosen because these companies are based in India founded by Indian entrepreneurs. Additionally, their majority stakes are also held by...

This Indian Startup is Solving the Problem of Indian E-commerce Space

17May By AnkitaNo Comments

Story

This Indian Startup is Solving the Problem of Indian E-commerce Space

With the rise of the e-commerce industry in India, parallelly there has been the continuous rise of problems related to online shopping. Problems like comparing prices of different websites, returns & exchanges, expert guidance, logistics, unawareness regarding new latest offers have become common for every online shopper. But now there is one startup named “Sabse Sasta Dukaan” which is solving all these issues by creating stores in every street & putting an Online shopping expert in it. The startup is an assisted e-commerce retail store where people can rely on online shopping experts to shop on their behalf & solve their issues. This innovative startup was founded by first-generation entrepreneur friends Mr. Anish Agarwal & Anant Jain of Kolkata in the year 2016. This r...

Walmart Planning to Launch Flipkart’s IPO in Next 4 years

13May By AnkitaNo Comments

News

Walmart Planning to Launch Flipkart’s IPO in Next 4 years

US retail giant Walmart Inc mentioned in its report to US security exchange that they may come up with an initial public offer (IPO) of Flipkart as early as four years. Walmart in its report said IPO will be at "a valuation no less than that paid by Walmart under the share issuance agreement, subject to the satisfaction of certain other conditions regarding such offering (the IPO)". Which means Walmart can issue the shares of Flipkart at the valuation of $16 billion that it paid to other investors of Flipkart to acquire the 77% shares of Flipkart. Also, the report added, "Shareholders agreement would expire upon the consummation of the IPO, whether initiated by the board or the minority stockholders". "Pursuant to a Registration Rights Agreement to be entered into concurrently wi...

2Mar By Sheldan RungasamyNo Comments

FUNDING

Urban Ladder Receives $12 Million Funding Boost

Online Furniture retailing startup urban ladder raised $12 million from Kalaari Capital, SAIF Partners, Sequoia Capital and Steadview Capital. Two anonymous individuals close to the company shared the information about the company funding. They Urban Ladder will keep trying to lure investors in the company so as to raise more capital for another six months. “So far external investor appetite hasn’t been great and they haven’t been getting the valuation they’ve been asking for, which is why they had to do an internal bridge round,” one of the anonymous said. In January of last year, Urban Ladder raised $15 million funding from the same set of investors. They stated that this money would be use to build an omni-channel strategy. They would open branded stores in main market and it w...

7Feb By reutersNo Comments

CHINA

Apple Brings Alibaba-linked Payment System into China Stores Amid Market Push

Apple Inc will accept Chinese mobile payment app Alipay in its local stores, boosting its ties with giant e-commerce firm Alibaba Group Holding Ltd amid a push by the iPhone maker to revive growth in the world’s No.2 economy. The tie-up will make Alipay, run by Alibaba affiliate Ant Financial, the first third-party mobile payment system to be accepted at any physical Apple store worldwide, Ant Financial said in a statement on Wednesday. Apple’s own payment system has had a lukewarm reception in China. The Cupertino-based firm will accept Alipay payment across its 41 brick-and-mortar retail stores in China, said Ant Financial, which was valued at $60 billion in 2016. Apple, whose China website, iTunes store and App Store have been accepting Alipay for more than a year, did not imme...

Know How Amazon Plans To Capture Indian Smartphone Market In 2018 With 10.or

22Dec By Press Trust of IndiaNo Comments

News

Know How Amazon Plans To Capture Indian Smartphone Market In 2018 With 10.or

US-based online retailer Amazon will bring in a range of smartphones to the Indian market under 10.or (pronounced Tenor) to take on homegrown rival, Flipkart. The smartphones, first of which goes on sale on January 5, will be launched under the companys Crafted for Amazon programme, it said in a statement. Explaining the programme, Amazon.in said it shares customer insights with OEM partners. These partners then design and manufacture products as per industry leading quality and reliability standards. Amazon provides go-to-market support for these products, it added. The first device -- 10.or D series smartphone features 5.2 inch screen and 3,500 mAH battery. It will be priced Rs 4,999 onwards The Crafted for Amazon program will also include fashion brands like Myx, Symbol, ...

Ecommerce Giant Alibaba Sees India As ‘Very Important’

13Nov By PriyankaNo Comments

News

Ecommerce Giant Alibaba Sees India As ‘Very Important’

[dropcap]C[/dropcap]hinese e-commerce giant Alibaba's CEO Daniel Zhang said that their company sees India as a "very important" market, on occasion of the 11/11 Global Shopping Festival. “Globalisation is one of our key strategies for Alibaba. As part of this strategy, India is a very important topic. India is a very important market for us to look at,” said Daniel Zhang. “Before entering any new market, we ask ourselves how we can help the local market. For a market like India, the key aspect of our strategy is to help the local enterprises grow,” he added. It's biggest bet in India, which costed them an investment of $1.4 billion in the payments wallet, is something the company is "happy" about. Also Recommended Uber Locks On Multibillion Dollar Deal With Japanese SoftBan...

4Nov By AnkitaNo Comments

INDIA

Indian Paper Packaging Segment Can Get A Lot From Ecommerce

The rapid growth of the Indian e-commerce sector, which is expected to become $228 billion big by 2030, will help the country's paper packaging segment expand, industry executives said today. E-commerce for manufacturing companies is changing the way companies do business with other companies, including paper and pulp mills, with new trends being added in the businesses continuously. N R Agarwal Industries CMD R N Agarwal said that global e-commerce players in the Indian market are looking for high quality packaging papers and packaging solutions. There will be a strong growth in the future as consumers need quality products, he added. JP Narain, CEO of Century Pulp & Paper, said packaging demand for recycled packaging board will increase by 9.5 percent and fresh packaging by ...

18Oct By PriyankaNo Comments

News

Flipkart To Launch Its Loyalty Programme ‘Flipkart First’ To Take On Amazon Prime

India's Ecommerce Unicorn Flipkart is planning to relaunch its loyalty programme to compete with Amazon Prime that has become a key differentiator for the American internet giant. The online retailer is in talks with online travel portal MakeMyTrip and event and tickets booking platform BookMyShow and cab aggregator Ola to provide its consumers more value-added services through Flipkart First. Earlier when Flipkart launched its loyalty programme- Flipkart First, but later didn't worked much to make it work; and the service fizzled out. Also Read: Amazon Infuses $250 Mn In Indian Amazon Seller Services Flipkart In Talks To Acquire Stake In BookMyShow Flipkart, which has so far raised nearly $3 billion in two separate tranches this year, also plans to leve...