Flipkart on Tuesday launched a next-day delivery service.
Food delivery major Swiggy has received approval from its shareholders for a $1.25 billion initial public offering (IPO), according to filings made with the Registrar of Companies sourced by Tofler. The Bengaluru-based firm plans to raise as much as Rs 3,750 crore (around $450 million) via a fresh issue and up to Rs 6,664 crore (around $800 million) through an offer-for-sale (OFS) component, the filings stated.
Financial details of the deal were not disclosed but a source in the company said the transaction was valued at close to $300 million.
The company did not disclose its new holding pattern.
Having 50 stores in India, it plans to double the number.
After all, talk of Amazon buying into Flipkart has been doing the rounds for long, although the two Bansals have denied it many times before.
Shopclues, the latest unicorn, was at the bottom of the sector loss pie.
Both Indian firms have been in talks with investors for nearly a year to raise fresh funds of as much as $ 1 billion, but with little success so far.
Amazon, however, claimed that it is just a service provider and doesn't own goods at any point of sale due to which it is not liable to pay this tax.
For someone who is such an indefatigable litigant, what is stopping Mr Saxena from using the law to depose Mr Kejriwal? Maybe we will get the answer after May 25, notes Aditi Phadnis.
'Merchandise plays a key role in creating buzz about a specific party.'
The company has often come under scrutiny for being dismissive about 'profitability' and unmindful of the high cost of running an inventory-led business, aided by deep discounts and free shipping.
Airtel starts 4G trial in Mumbai; partners Flipkart, Samsung.
Five founders of e-commerce start-ups, four of them Bansals, say they had alternative ambitions chalked out.
Did top Indian business groups miss the e-commerce opportunity by focusing on replicating the Walmart model instead of following the Amazon model of online shopping?
Recently, ex-Google executive Punit Soni joined FLipkart.
Bansals of e-commerce company Flipkart and Aditya Ghosh of low-cost carrier Indigo have made into Fortune's young achievers list for their initiatives in creating job opportunities.
rediffGURU Krishna Kumar, founder and CEO of GoMoTech, offers expert advice on how to scale up in your career and life.
Flipkart, founded by two former Amazon executives, Binny Bansal and Sachin Bansal, has been a talking point vis-a-vis Amazon's strategy in India.
'The World Cup alone is expected to create an additional 100,000 jobs, most of which will comprise gig workers in the delivery space, transportation, hospitality and event management.'
After electronics and fashion, the next retail segment is food business.
Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
Don't hit the buy button as soon as you hear of the next BIG online sale this Diwali. Here are some very important lessons -- in the light of how some online shoppers felt cheated after Flipkart's 'Billion Day Sale' -- that could save you time, money and peace of mind, says Rajiv Raj!
Flipkart co-founder Sachin Bansal on Friday took pot shots at Snapdeal saying India should not be blamed for the latter's failure to hire "great engineers".
Flipkart may walk away from ongoing discussions with telecom service provider Airtel for their platform 'Airtel Zero'.
Tencent reinforces India's consumer internet story. Ranju Sarkar reports.
The e-commerce story in India has begun to look up.
A drone from Skye Air Mobility on Tuesday covered an aerial distance of 104 km in West Bengal to deliver a medicine consignment of Flipkart Health, the longest commercial delivery using an unmanned vehicle in the state, a company statement said on Tuesday. The drone took off from Flipkart's Baruipur hub in South 24 Parganas and delivered medicines at the Healthbuddy Matangini in the state's Purba Medinipur district, it said. The distance between the two places is 185 km by road, and it takes about four-five hours to cover by the surface transport.
They have struck gold by partnering online retailers.
With the fashion world blurring the lines between innovation, technology and reality, shopping is all set to be revolutionised.
Snapdeal and Flipkart to battle it out over Express Delivery
'With this revamp the anonymous journey of the user will begin wherein he will not have to sign in every time he accesses the app.'
As the world celebrated International Day of Persons with Disabilities (PwD) on December 3, corporate India has kept up with efforts to make workplaces more inclusive and accessible. Organisations across sectors are taking initiatives such as equipping offices with practical work tools like Braille-friendly and voice-enabled lifts and screen readers. While inclusion has gained pace, only 11.3 per cent (or 3.4 million out of 30 million) Indians with disabilities have jobs.
How much do you know Russian billionaire Yuri Milner, who has invested $ 100 million in a project to find extra-terrestrial life?
'We went from zero to about 10 million users in three months. Paytm came out with the wallet play and we came out with the UPI play.'
Tata Group-owned Titan, which has agreed to purchase founder Mithun Sacheti's stake in CaratLane for Rs 4,621 crore, is planning to buy employee stock options (Esops) of the jewellery retailer's employees for around Rs 350 crore. This will take Titan's ownership in the company to 100 per cent. CaratLane reportedly has around 1,500 employees, most of whom do not own shares in the company.
When Open Network for Digital Commerce (ONDC) was conceived last December, the idea was to reduce the dominance of e-commerce giants like Amazon and Flipkart. It was also to bring in a level-playing field for small merchants in India's fragmented but fast-growing $1-trillion retail market. However, those goals have changed now as large e-commerce players such as Flipkart, Amazon and Ecom Express are in various levels of talks with the ONDC team. They want to form partnerships like integrating with the network as well as providing their expertise to build it, according to the industry sources.
Government's decision comes in the backdrop of several complaints being flagged by domestic traders on heavy discounts being given by e-commerce players to consumers.
'We want to achieve overall profitability, and then we would go for an IPO.'
After another profitable quarter, Anil Chanana, chief financial officer, HCL Technologies, tells Karan Choudhury that customer confidence is at an all-time high.
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