Monday, May 6

Tag: ecommerce

Flipkart Completes Its Merger With ebay.in
1Aug By Press Trust of IndiaNo Comments
ACQUISITION, News

Flipkart Completes Its Merger With ebay.in

E-commerce major Flipkart today said it has completed the merger with eBay Indias operations. With this, eBay.in will now be a Flipkart Group company. The deal was announced in April when the Flipkart group raised USD 1.4 billion from global technology majors eBay, Tencent and Microsoft. (more…)
Read More
Paytm Likely To Pick Up Stakes In BigBasket For $200 Million
12Jul By Press Trust of IndiaNo Comments
News

Paytm Likely To Pick Up Stakes In BigBasket For $200 Million

Alibaba and SoftBank-backed Paytm is believed to be in discussions to pick up minority stake in online grocery retailer, BigBasket for about USD 200 million, according to sources. The due diligence is on and the deal could be finalised in the next few weeks, sources privy to the development said. They did not wish to be identified as discussions are still on and the deal has not been signed yet. When contacted Paytm declined to comment, while BigBasket said: "This is completely untrue". With people becoming comfortable buying even milk and bread online, online grocery segment is projected to witness a strong growth over the next few years. According to a report by Franchise India, the online grocery market is expected to be Rs 2.7 billion market by 2018-19. Industry watc...
Read More
Snapdeal Board Rejects Flipkart’s $850 Million Offer
4Jul By AdityaNo Comments
News

Snapdeal Board Rejects Flipkart’s $850 Million Offer

Snapdeal board is believed to have rejected a takeover offer of USD 800-850 million (around Rs 5,500 crore) from larger e-commerce rival Flipkart. According to sources privy to the development, Flipkart has completed the due diligence process and has made an offer of USD 800-850 million to buy Snapdeal. However, the offer was rejected by the Snapdeal board which felt the amount undervalues the company as the due diligence report is clean. "The first offer has been rejected but talks are still on. It is an ongoing discussion," said one of the sources. When contacted, Snapdeal, SoftBank and Flipkart declined to comment. SoftBank, the Snapdeals largest investor, has been proactively mediating the sale for the past few months. The board also has representation from Snapdeal founder...
Read More
Fynd Raises Series A of USD 500k From Silicon Valley Based Rocketship
15May By AnkitaNo Comments
FUNDING

Fynd Raises Series A of USD 500k From Silicon Valley Based Rocketship

Mumbai, May 15th, 2017: Underlining its commitment to offer superior customer experiences with real time fashion discovery, Fynd, the unique fashion e-commerce portal, recently raised follow-up funds of USD 500k from Silicon Valley-based Rocketship. This new capital has been raised in an extension of the Series A funding round wherein the fashion e-commerce portal had raised USD 500k from Venture Catalysts in March. Fynd seeks to chiefly utilise the funds to strengthen its tech backbone, optimize its operations and further enhance its customer offerings as well as strategies. Fynd will leverage the VC firm’s expertise in data mining and machine learning capabilities to emerge as a household name in the fashion e-commerce space. The Series A funding comes close on the heels of the compan...
Read More
15May By PriyankaNo Comments
FUNDING

E-commerce Platform Infibeam to Invest $468k in RemitGuru

E-commerce firm Infibeam Incorporation Ltd has agreed to invest Rs 3 crore ($468,000) in global digital remittance solutions platform RemitGuru. “As a part of this investment transaction, Infibeam and CC Avenue will invest Rs. 3 crore in RemitGuru wherein Infibeam will invest Rs. 2 crore,” Infibeam said in a statement. The deal would be a cash deal transaction helping Infibeam to increase cross-border e-commerce business transactions with cash-free modes through fintech solutions. CC Avenue already holds 26.76 per cent stake in RemitGuru. “This partial acquisition would not fall within related party transactions and no governmental or regulatory approvals are required for the same,” it said. займ в тамбовезайм на 100000займ на карту честное слово...
Read More
Japan’s SoftBank Takes Driving Seat in Indian Online Shake-Up
7May By reutersNo Comments
News

Japan’s SoftBank Takes Driving Seat in Indian Online Shake-Up

After ploughing about $2 billion into minority stakes in Indian e-commerce businesses over the past few years, Japan's SoftBank is upping the stakes, looking to play consolidator and take a more active role at a trio of leading start-ups. According to sources with direct knowledge of the matter, the solar-to-tech conglomerate is seeking to secure a piece of India's industry leaders in everything from payment systems to online shopping and groceries, in a series of deals that would shake up the $65 billion sector. Among the most high-profile plans is SoftBank's push to engineer a merger between Snapdeal, the No. 3 player in one of the world's most competitive online markets and one of its biggest Indian investments to date, and market leader Flipkart. The deal could be finalised as...
Read More
Myntra Acquires Bengaluru Based Logistics Startup InLogg
20Apr By AnkitaNo Comments
ACQUISITION

Myntra Acquires Bengaluru Based Logistics Startup InLogg

Fashion e-tailer Myntra today said it has acquired Bengaluru-based InLogg for an undisclosed amount, a move that will further strengthen the supply chain capabilities of the Flipkart-owned company. Founded in 2015, InLogg offers a technology platform that provides end-to-end logistics solutions for the e-commerce sector. "As part of the acquisition, the team at InLogg has been inducted into Myntra, making it an acquihire that will further strengthen and expand Myntras supply chain capabilities," Myntra said in a statement. "With an 80 per cent year-on-year growth, we are on a strong trajectory... The Inlogg acquihire with the platform and capabilities will help us scale while delivering great customer experience in Tier II, III and IV cities," Myntra Chief Strategy and Planning Of...
Read More
Amazon India Gets RBI Nod For Mobile Wallet
13Apr By RishabhNo Comments
News

Amazon India Gets RBI Nod For Mobile Wallet

Online marketplace Amazon India has secured a licence to operate pre-paid payment instrument (PPI) or mobile wallet in the country as it tries to compete more aggressively against rivals Snapdeal and Paytm. The approval will help the US-based giant to cash in on the booming digital payments market in India. "We are pleased to receive our PPI license from the RBI (Reserve Bank of India). Our focus is providing customers a convenient and trusted cashless payments experience," Amazon India said in a statement yesterday. In December, Amazon had launched its Pay Balance service to cash in on the digital payments boom. Similar to other mobile wallet services, the payment mechanism, however, was restricted to transactions made on Amazon's platform. Amazon Pay runs on the PPI licence issue...
Read More