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Snapdeal Launches Its Own Cloud Platform Cirrus

1Sep By Press Trust of IndiaNo Comments

News

Snapdeal Launches Its Own Cloud Platform Cirrus

Online marketplace Snapdeal on Thursday announced the launch of its private cloud platform, Cirrus, to help the company offer a more frictionless, reliable experience to customers and help save costs. This move will enable Snapdeal to ensure that business growth is augmented with platform speed, security, and stability, it said. The private cloud solution has been built and operationalised in under a year and is timed to handle long-term growth in traffic, Snapdeal said in a statement. The launch follows a sustained increase in online traffic at Snapdeal and will also satiate fast growing demand for crunching big data "to build personalised and relevant experiences for consumers," it added. "Snapdeal was born in the cloud, but public clouds stopped being cost efficient af...

Indian E-commerce Companies Demand Exemption From GST

30Aug By Press Trust of IndiaNo Comments

INDIA, News

Indian E-commerce Companies Demand Exemption From GST

The rapidly expanding e-commerce companies today made a strong case for keeping them out of the proposed GST net but the state finance ministers appeared in no mood to oblige. At the first meeting of the Empowered Committee of State Finance Ministers held after the Parliament approved the GST Bill, online retailers said they only provide a platform to vendors and customers and do not make money out of sales made. According to representation made at the meeting, companies like Flipkart, Amazon India and Snapdeal are only service providers to the vendors and as such are liable to pay GST only on service income. When panel chairman and West Bengal Finance Minister Amit Mitra questioned the billion dollar valuations some of the so-called online platforms command, the e-retailers s...

Myntra Has Acquired Jabong, Pips Future Group & Snapdeal

26Jul By PriyankaNo Comments

ACQUISITION

Myntra Has Acquired Jabong, Pips Future Group & Snapdeal

Myntra, a fashion portal owned by India's largest online retailer Flipkart has acquired online merchandise retailer Jabong. Sachin Bansal, Flipkart's co-founder, confirmed the news by welcoming Jabong India to the Flipkart family in a tweet. Welcome @JabongIndia to the @Flipkart family. We'll create history together.— Sachin Bansal (@_sachinbansal) July 26, 2016 The talks of sale were fueled by reports that Jabong's current owners AB Kinnevik and Rocket Internet were reluctant to pump in more money into Jabong. According to Mint, Kinnevik was seeking a valuation of USD 100-150 million for Jabong. After the deal, Jabong will become part of Myntra which in turn is owned by Flipkart. Earlier there were speculations that Kishor Biyani-led Future Group is in talks to buy Jab...

Almost 70% of Startups Globally Will Fail: Kris Gopalakrishnan

19Jul By NitishNo Comments

Entrepreneurs Talk

Almost 70% of Startups Globally Will Fail: Kris Gopalakrishnan

Infosys Co-Founder and former CII President Kris Gopalakrishnan today said almost seventy per cent of startups globally will fail and only five to ten per cent will become large and scale up. "Almost seventy per cent of startups will fail. About 20 per cent will survive but will not grow. They will remain small enterprises, and may be only five to ten per cent will become large and scale up - that is the spastics globally," he told reporters at the announcement of the 12th Innovation Summit 2016 here, of which he is the chairman. This should not, however, be treated as a concern or a challenge, but it is a part of natural process of evolution, he added. "The key is what are the learnings, and how do we continue to nurture this," he said. Asked who has made a mark globally ...

Flipkart Emerged as The India’s Most Preferred E-commerce Platform

3Jul By AnkitaNo Comments

News

Flipkart Emerged as The India’s Most Preferred E-commerce Platform

India's most trusted e-commerce brand Flipkart has emerged as the most preferred platform across the nation. The e-commerce portal stands out on the customers preferences, reported a consumer study conducted by research firm Red Seer Consulting. The platform that offers maximum value for money and a wider meaningful assortment has been voted highest among all e-commerce platforms in India, which includes customer support, ease of return, refund and reverse pick up speed. The survey titled 'The Indian e-tailing Leadership Index' is based on over three thousand customer interviews and six thousand delivery instances across the country. Some of the parameters that customers across India were surveyed include brand trust, value, product variety and availability, ease of return, web and a...

Shopclues Expecting 20,000 Cr Sales in This Financial Year

24Jun By AdityaNo Comments

News

Shopclues Expecting 20,000 Cr Sales in This Financial Year

E-commerce company Shopclues expects to register more than two fold jump in Gross Merchandise Volume (GMV) from its platform at USD 3 billion (about Rs 20,000 crore) by the end of current financial year. "We are planning to close financial year 2016-17 at annualised GMV rate of USD 3 billion," Shopclues Chief Business Officer Radhika Ghai Aggarwal said. The company has registered GMV sales of USD 1.2 billion in 2015-16, she said. Shopclues expects that additional push to its business will come from fashion category which it has recently started. "The company has already added 60,000 new sellers on its platform under fashion category and will take this number to 1,50,000 by the end of the year. In GMV and orders terms, we expect 100 per cent growth in fashion category by end of ongoing ...

31May By NitishNo Comments

FUNDING

India’s Only Profitable Ecommerce Platform Invested 45 Crores in CCAvenue

India's first profitable e-commerce portal Infibeam said that it's investing Rs 45 crore in one of India's largest payment gateway CCAvenue and is currently "in further discussion for signing of definitive agreement". CCAvenue's payment solutions will be deeply integrated to Infibeam e-commerce marketplace and BuildaBazaar merchant store. Infibeam operates via its subsidiary NSI Infinium Global that holds e-commerce marketplace Infibeam.com and the do-it-yourself e-commerce platform BuildaBazaar. It's already has a joint venture with Avenues India called Avenues Infinite that operates the e-commerce marketplace Dhamaal.com. Infibeam owns 49.9% stake in the venture while the remaining 50.01% is owned by Avenues India. Infibeam likely to compete with other e-commerce platform in paym...

Snapdeal Opens Data Sciences Centre in California

30May By AnkitaNo Comments

News

Snapdeal Opens Data Sciences Centre in California

Online marketplace Snapdeal today said it has established a data sciences centre in San Carlos, California to get top global talent and build high-value solutions. The centre will focus on big-data and advanced analytics to add clarity to Snapdeals consumer-centric initiatives, help shape business strategy and optimise the operational efficiencies using data. "We have set up a data science engine in California, which is home to domain talent, to further augment our efforts in creating a superior customer experience and strengthen our supply chain. Snapdeal is extensively working on data mining through an existing analytics team," Rohit Bansal, co-founder, Snapdeal said. The centre houses experienced data scientists from leading global brands like Groupon, Google, Yahoo and Amazon and ...

TataCLiQ.com – First of its Kind Phygital E-commerce Platform in India

28May By NitishNo Comments

Story

TataCLiQ.com – First of its Kind Phygital E-commerce Platform in India

The Tata group today announced the opening of its E-commerce portal, TataCLiQ.com for customers. TataCLiQ.com, the first-of-its-kind multi-brand Phygital E-commerce marketplace will seamlessly blend online and in-store shopping experience for discerning customers. TataCLiQ.com is the first E-commerce marketplace to offer customers the choice of making purchases not only from their website (http://www.tatacliq.com) but through the mobile apps (iOS and Android platforms) on Day one. At the launch, customers will be able to access a wide and well-curated range of top brands across the apparel, electronics and footwear categories, including many brands that are exclusive to TataCLiQ.com. There are a host of international fashion and luxury labels, offering products that are...

80 Percent of India Preferring to Shop Online Instead of Visiting Stores – Report

20May By AdityaNo Comments

ANALYSIS

80 Percent of India Preferring to Shop Online Instead of Visiting Stores – Report

Online shopping is more popular among consumers with 80 per cent of buyers preferring to shop over the Internet instead of visiting different stores to purchase their favourite products, according to a new survey. The study undertaken jointly by Yahoo and Mindshare analyses the shopping behaviour of customers to reveal that 31 per cent shoppers opt for online shopping in order to save the time and effort that might be spent on physically going to stores to buy the same products. About 28 per cent customers are driven to buy online due to the availability of discounts and promotions while the convenience to shop anywhere, anytime attracts the remaining 21 per cent, it said. The study also highlights how more and more customers are taking to mobile phones to make online purchases as c...

Apple Announced D&D Accelerator Center in Bengaluru, Zomato Founder said Excellent Opportunity

18May By AdityaNo Comments

News

Apple Announced D&D Accelerator Center in Bengaluru, Zomato Founder said Excellent Opportunity

Tech giant Apple on Wednesday announced a new initiative to support engineering talent and accelerate growth in India's iOS developer community. Apple CEO Tim Cook, who landed in India late on Tuesday said the company would establish a Design and Development Accelerator in Bengaluru, the home of India's startup scene. Tens of thousands of developers in India make apps for iOS, the world's most powerful mobile operating system and the foundation for iPhone, iPad and iPod touch. This initiative will provide additional, specialised support for them. Apple's team will work to inspire and instruct developers on best practices, help them hone their skills and transform the design, quality and performance of their apps on the iOS platform. "India is home to one of the most vibrant and e...

Tatas E-commerce Platform CliQ to Go Live on May 27

17May By PriyankaNo Comments

News

Tatas E-commerce Platform CliQ to Go Live on May 27

Tata Unistore, a Tata group business venture, today announced that its e-commerce platform, Tata CLiQ, will open to consumers from May 27 across its website, mobile site and mobile apps. At the launch, Tata CLiQ will offer consumers a new shopping experience in apparel, electronics and footwear categories. Over the next few months, the plan is to expand the offering by adding many more categories, brands and exciting features, Tata Unistore said in a statement here. Over the past few years, e-commerce in India has been growing at a faster rate than brick-and-mortar retail. Ads by ZINC. According to a Goldman Sachs report released last year, the e-commerce market will account for 2.5 per cent of India's gross domestic product by 2030, growing 15 times and reaching USD 300 billion....