Monday, November 18

Tag: online shopping

Alibaba Invests $2 Billion in Lazada, Also Lead the Operation
19Mar By NitishNo Comments
FUNDING

Alibaba Invests $2 Billion in Lazada, Also Lead the Operation

Alibaba, China's leading e-commerce company will appoint one of its founders Lucy Peng as head of Lazada and also invested around $2 billion into Southeast Asia's leading online shopping firm. The appointment and funding will use to expand the operations in the south-east Asia region. Alibaba is the leading investor in the Lazada group, owns 83% shares. Earlier the e-commerce company was invested total $2 billion in two rounds of funding. As per the information, Alibaba with these investments trying to acquire both online and offline assets to further bolster its business. Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam are the leading market for the e-commerce company having 560 million consumers in the region. Lazada Group was founded in 2011 by German ...
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Voonik Receives First Part of its Series B Funding
15Mar By NitishNo Comments
FUNDING

Voonik Receives First Part of its Series B Funding

This Bengaluru based online marketplace Voonik operating in products for women’s fashion has received ₹65 Lakhs from existing investor Sequoia Capital. The amount is the first part of Series B round that commenced in December 2017. In December 2017, RB Investments, Seedfund, and Sequoia Capital invested ₹7.37 Cr in Voonik. The shares were issued at a premium of ₹4,149/-, same as the current raise but much less than the previous round which saw the participation of RB Investments alone. Sequoia has invested in both fundings round happened in March & December from its Sequoia Capital Investments IV fund. The current private placement offer covers an investment by Sequoia Capital of ₹1.3 Cr in funding, which indicates that the current allotment of ₹65 lakhs is the first tranche, ...
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Alibaba Singles’ Day Broke Last Year’s Record, 11 Hours Before End
11Nov By RishabhNo Comments
News

Alibaba Singles’ Day Broke Last Year’s Record, 11 Hours Before End

Alibaba's Singles' Day shopping bonanza has broke last year's all time high of $18.2 billion by 1:09 PM in Beijing with hours to go before the final bell. The annual frenzy had already hit $8.6 billion in sales in the first hour after starting at midnight, and by 8 a.m. some 82 brands had topped 100 million yuan in sales including New Balance, Samsung and Shiseido, according to Alizila, a blog run by the company. More than 90 percent of transactions were done via mobile. Shoppers from at least 192 countries and regions swarmed the e-commerce giant to scoop up discounted lobster, iPhones and refrigerators, at a rate of as many as 256,000 transactions per second. The Chinese company hosted a star-studded gala with tennis star Maria Sharapova and American rapper Pharrell Williams to pum...
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CashKaro’s 7 Marketing Ideas That E-commerce Websites will Count on this Diwali
17Sep By kriti singhNo Comments
News

CashKaro’s 7 Marketing Ideas That E-commerce Websites will Count on this Diwali

E-commerce giants like Amazon, Flipkart, Myntra, and Paytm are gearing up to launch their festive sales. CashKaro.com has analyzed past trends to identify marketing strategies that e-commerce websites will use to amplify their sales during this period.   Incentivizing Wallet Payments By capitalizing on the cashless wave, payment through self-funded mobile wallets has become a widely used strategy. Customers paying through these wallets receive exclusive discounts from e-commerce companies. Recently, Amazon launched its Pay Balance feature which allowed customers to pay instantly with pre-loaded Amazon Pay wallets. As an introductory offer, Amazon gave 15% Cashback of upto Rs. 450 to its Prime Members who paid using Pay Balance. Regular shoppers received 10% Cashback of upto R...
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Online E-commerce Firm Infibeam Approved Share Split in The Ratio of 1:10
14Jul By PriyankaNo Comments
Market

Online E-commerce Firm Infibeam Approved Share Split in The Ratio of 1:10

The board of e-commerce firm Infibeam Incorporation today approved share split plan in the ratio of 1:10 that will make its scrip more affordable for the investors and increase market liquidity. The board also cleared amalgamation of CC Avenue with the company in which Infibeam has controlling stake. "The Board of Directors of the Company at its meeting held on Thursday July 13, 2017... has approved..split/sub- division of equity shares of the company from existing face value of Rs 10 per equity share to face value of Re 1 per equity share. Amalgamation of Avenue (India) Private Limited (CC Avenue) with the company," Infibeam said in a regulatory filing. The board also approved altering the capital clause of memorandum of association, in connection with the split of shares, setting ...
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Amazon Pumps in Rs 1,680 Crore More in India Unit
6Jul By Press Trust of IndiaNo Comments
BUSINESS

Amazon Pumps in Rs 1,680 Crore More in India Unit

Global giant Amazon has invested an additional Rs 1,680 crore in its India unit as it looks to further strengthen operations in the booming e-commerce market here. The fresh infusion part of Amazons USD 5 billion commitment to Indian market will also provide more arsenal to the Indian entity that is locked in an intense battle for leadership with local rival, Flipkart. Amazon Seller Services (Amazon India) received the funds last month, as per regulatory filings with the corporate affairs ministry. "We remain committed to our India business with a long- term perspective to make e-commerce a habit for Indian customers and invest in the necessary technology and infrastructure to grow the entire ecosystem," an Amazon India spokesperson said in an e-mailed response. In June...
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Flipkart-Snapdeal Deal: Negotiations On For Higher Offer
6Jul By Press Trust of IndiaNo Comments
News

Flipkart-Snapdeal Deal: Negotiations On For Higher Offer

After Snapdeal board reportedly rejected Flipkart's USD 850 million takeover offer, the two parties are now holding parleys over the USD 150-200 million valuation gap. According to sources privy to the development, Flipkart had initially offered USD 1 billion for the deal but post the due diligence, it made an offer for USD 800-850 million. The offer was rejected by Snapdeal board as it felt the amount undervalues the company as the due diligence report is clean, one of the sources said. "However, the deal isnt off and negotiations will continue. The differences over Snapdeals valuation could delay the process," they added. Emails sent to Snapdeal, SoftBank and Flipkart did not elicit response. SoftBank, Snapdeals largest investor, has been proactively mediating the sale for...
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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...
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Flipkart Tightens Return Policy Rules
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...
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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...
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Flipkart Raises $1.4 Billion From Microsoft, Tencent and eBay
10Apr By PriyankaNo Comments
FUNDING

Flipkart Raises $1.4 Billion From Microsoft, Tencent and eBay

Indias largest e-commerce firm Flipkart has raised USD 1.4 billion from Tencent Holdings, Microsoft Corp and eBay Inc amid speculation that the online marketplace is in talks to take over smaller rival Snapdeal. The biggest-ever fund raising by an Indian Internet firm values Flipkart at USD 11.6 billion, the company said in a statement today. With over 100 million customers, Flipkart owns fashion retailers Myntra and Jabong, logistics firm Ekart and payments app PhonePe. The valuation was a decline from Flipkarts USD 15 billion reported worth in 2015. Prior to the latest round of funding, it had raised more than USD 3 billion, mostly from international investors. eBay will invest USD 500 million in Flipkart as the two firms will merge their operations in the country. As part of the de...
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