flipkart | Pixr8 News

21Jun By Gauri SinghNo Comments

News

Flipkart To Launch Its Loyalty Programme To Combat Amazon Prime

With the announcement of the Amazon’s Prime Day sale, rival Flipkart is also expected to introduce its loyalty programme soon by the end of July or in the starting of August. The programme, however, will be carried forward in a way different from it has ever been. The company won’t charge any subscription fee, rather the Flipkart customer loyalty programme will be based on the amount of purchases a customer does. After hitting the given amount of purchases, the customer will be eligible to enjoy the benefits of the programme. “The idea is to start treating the cohort of loyal customers as more special. This is why it will be based on frequency and repeat purchases rather than a fixed fee paid upfront,” a Flipkart employee said. According to the company, the loyalty programme will offe...

Paytm Buys Out a Flipkart and Tiger Global Backed Firm

19Jun By Gauri SinghNo Comments

ACQUISITION

Paytm Buys Out a Flipkart and Tiger Global Backed Firm

India’s leading payment gateway Paytm on Tuesday has reportedly acquired Cube 26, which is a New-Delhi based technology company backed by Flipkart and Tiger Global. The tech firm had raised a seed funding from both the investors amounting to $7.7 million in 2015. The start-up was founded by Saurav Kumar, Abhilekh Agarwal, and Aakash Jain in 2012. Cube26 produces customized Android OS for original equipment manufacturers, and at present, it is building a games and apps store by connecting India-based developers directly with smartphone users. “We are focused on building a more immersive and feature-rich mobile experience for our large active user-base,” said Madhur Deora, the chief financial officer at Paytm. “We are excited to welcome the Cube26 team on board,” he added. According to ...

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...

15Jun By Gauri SinghNo Comments

BUSINESS

Myntra Plans to Expand Offline Business Aiming 100 Stores

The popular Indian e-commerce company Myntra is now on board to accelerate its growth by increasing the number of its offline stores from 12 to 100 in the coming two years’ time with the aim to make its private label business stronger. According to the reports, the fashion etailer will open 50 stores featuring its most selling and popular brand Roadster. Apart from this, the stores will also come up with brands like HRX and Mango, among others. Myntra already operates the franchise of the Mango label in India. The main purpose of expanding the offline presence is to strengthen the customer base for its brands. Ananth Narayanan, CEO of Myntra said, “We are not opening stores because we want them to be big sales centers. It is a great way to do branding for us and to provide the touch-an...

Kodak Aims to Make Big in E-commerce to boost TV sales

12Jun By Lavina TolaniNo Comments

Tech

Kodak Aims to Make Big in E-commerce to boost TV sales

The American technology giant Kodak known for its historic photography niche that marked a reentry in 2016 into the Indian market, is now eyeing to make it big in the white goods segment with India in its crosshairs. The company is reportedly signing brand licencing deals that will mean for us to see more of Kotak branded washing machines, microwaves, air conditioners and more launching in the country. Kodak to aggressively opt for more licensing deals in India Commenting on from their inception to latest strategy, Avneet Singh Marwah, Director and CEO of Super Plastronics Pvt Ltd said, We launched Kodak televisions in 2016 in India. Initially, we had partnered with e-commerce player Shop Clues. After receiving feedback from the market, we had then partnered with Flipka...

Walmart Sells 80% Stake in its Brazilian Business

5Jun By Gauri SinghNo Comments

USA

Walmart Sells 80% Stake in its Brazilian Business

The American Multinational Retail Corporation Walmart Inc. has announced to sell the majority of its stake that is 80% stake in its Brazilian business operations to a private equity company Advent International Corp. decreasing its existence in countries where it is battling and struggling for profitability. Walmart is a US-based retail company which is the world’s largest firm in terms of revenue generation. The company is now on the tracks of exploring and expanding overseas by selling assets in lower-growth markets and investing in high-profit opportunities like India and China. Walmart expects to keep a 20% stake but, the terms and financial details of the deal have not been revealed as of now. The retail company, however, has expressed an expectation of recording a non-cash net ...

5Jun By Lavina TolaniNo Comments

INDIA

Indian Public Sector Bank Modify Investment Rules for Fintech Startups

India's largest public sector bank, State Bank of India (SBI) which has failed to invest in fintech startups despite earmarking funds, is now gearing up to modify rules that can kickstart the infusion, as reported a top company official. The bank which has designated Rs 50 crore to invest in fintech startups is now going to modify rules to plough in more money that can favour the growth of more companies like online retailer Flipkart and ride-sharing app Ola, which define the country's dexterity. Rajneesh Kumar, Chairman at SBI said over an event, We are a public institution and investments in startups are generally considered very risky. We understand that traditional way of investing will not work. Kumar has informed that bank already has a board-approved policy that promotes fin...

PhonePe on The Ladder of Success, Crossed 100 Million Users

2Jun By Gauri SinghNo Comments

News

PhonePe on The Ladder of Success, Crossed 100 Million Users

The Bengaluru-based Flipkart-owned company PhonePe has reportedly made its way across 100 million registered users on its platform in less than two years of its inauguration. The company's annual total payments volume (TPV) have also received a boost crossing $20 billion in the month of May. Paytm, the firm's close rival stated its annualised transactions amounting to $29 billion through its platform performing 63 million transactions in April, while the Digital payments firm PhonPe has performed 60 million transactions with a total of 30 million customers using Unified Payments Interface (UPI) in the month of May which is quite close to its competitor. “We have gone from launch to 100 million users in just 21 months. Our next goal is to onboard a million merchants for our customers, a...

1Jun By Gauri SinghNo Comments

BUSINESS

Amazon India Unit Suffers Heavy Losses

Amazon Seller Services, the Indian unit of US e-commerce retailer Amazon has witnessed a growth in their losses by 31% in the financial year 2016-17 reaching up to Rs. 4,830.6 crore. This is because of the exaggerated investments in the country in order to fight against its competitor, Flipkart. The Amazon Seller Services handles and operates a marketplace that assists the sellers to sell their products online in India and globally as well. Though due to investments, the company suffered losses, the revenue from the sales saw a rise of 43%, from Rs 2,276 crore in 2016 to Rs 3,256.6 crore in the year ended March 2017. In 2015-16, the Bengaluru-based unit suffered a net loss of Rs 3,679.9 crore. Where the competitor company Flipkart succeeded in lowering its losses to Rs 1,638.6 crore ...

Income Tax Department Begins Flipkart-Walmart Deal Audit

31May By Lavina TolaniNo Comments

News

Income Tax Department Begins Flipkart-Walmart Deal Audit

The biggest acquisition in e-commerce that shook up the world-the Flipkart-Walmart is now being examined by the Income Tax departments in India where the tax body has sent queries to Flipkart-Walmart regarding the $16 Bn worth deal. While Flipkart has responded to the details of the acquisition, Walmart's explanation is still awaited. The acquisition deal was sealed earlier on 9 May where Walmart bought 77% stake in Flipkart for a whopping $16 billion. Prior to the official deal announcement, Income tax authorities had asked Flipkart to furnish the details of the transaction to examine the tax implications of the transaction for the government. It is important to note that transaction details are crucial for the income tax department to ascertain tax liability since many investors...

Amazon’s India Re-brands Grocery Service to ‘Prime Now’

30May By Lavina TolaniNo Comments

News

Amazon’s India Re-brands Grocery Service to ‘Prime Now’

While yesterday we reported Flipkart foraying into grocery market to rival BigBasket and Grofers, another news today has surfaced that E-commerce giant Amazon is aggressively ramping up selection for grocery on its platform and focussing on speedier delivery to capture its hold in the grocery venture. The grocery wing of the online e-tailer has been rebranded Prime Now, with the company offering a two-hour express delivery option to members of its Prime subscription service. Amazon's announcement has come in the wake of Flipkart also strengthening its plans to enter grocery segment. The Amazon Now Service will be called as "Prime Now" and will have investments in the chill chain for products like fresh fruits, vegetables and dairy. The service limited as an app-only-service as of ...

Ola to Adopt Group Company Structure Like Flipkart

28May By Lavina TolaniNo Comments

BUSINESS

Ola to Adopt Group Company Structure Like Flipkart

Cab Riding Major Ola is set to walk along the footprints of India's most successful internet startup Flipkart as it is about to adopt a group holding company structure that would boost company's valuation and improve its business management. According to sources, Ola will set up a holding company consisting of different units that will include its core cab business, food delivery app Foodpanda and the inceptive business of electric vehicles along with the international unit. Each of the units will have their respective heads looking after business operations. The recent exit of company's COO Vishal Kaul has now put prominent names such as senior vice-presidents Saikiran Krishnamurthy and Pallav Singh on the tentative list of senior hierarchy under the new structure. People familia...