The strategy these online marketplace companies follow in the next few months will determine whether Amazon gets to be the leader in 2017.
Amazon signed up Motorola as an exclusive brand partner for its new devices, which in turn helped it grow
In India, Amazon has taken an open cheque policy by sinking in over $2 bn to grow its business and tried to build local innovations to help it score over local players Flipkart and Snapdeal.
The Karnataka government is partnering with two leading e-retailing companies, Snapdeal and Amazon, to create a platform where the small and medium enterprises (SMEs) of the state can sell their products.
SoftBank-based e-commerce marketplace Snapdeal has deferred its Rs 1,250 crore IPO, joining the list of startups that have decided to shelve their initial public offering (IPO) plans this year. Snapdeal, which competes with Amazon and Flipkart, filed a request this week with the Securities and Exchange Board of India (Sebi) to withdraw its draft red herring prospectus (DRHP) amid a sell-off in tech stocks worldwide. "Considering the prevailing market conditions, the company has decided to withdraw the DRHP. The company may reconsider an IPO in the future, depending on its need for growth capital and market conditions," a Snapdeal spokesperson said.
The Central Consumer Protection Authority (CCPA) has issued notices to five e-commerce entities, including Amazon, Flipkart and PaytmMall, as well as various sellers for offering pressure cookers that are non-compliant with BIS norms. The notices were issued on November 18 to Flipkart, Amazon, Snapdeal, Shopclues and PaytmMall, and the sellers. As part of celebrations of 75 years of Independence - 'Azadi ka Amrit Mahotsav', CCPA has initiated a country-wide campaign to prevent sale of spurious and counterfeit goods that violate Quality Control Orders published by the Centre, the government said in a statement on Monday.
E-commerce platform Snapdeal is looking at filing its Draft Red Herring Prospectus (DRHP) in the next few weeks to launch an initial public offering in first half of next year, according to sources. Sources close to the development said the company is looking at a $250 million (around Rs 1,870 crore) IPO that could value Snapdeal at about $1.5-1.7 billion. Snapdeal is looking at filing the DRHP in December-January time frame, and launch the IPO in the first half of 2022 after the necessary approvals, they added. One of the sources said the founders will not be selling shares as part of the IPO, and major shareholders are also expected to hold onto their shares.
One of the leading contenders in the Indian e-commerce space, Snapdeal has seen its fortunes falling amid strong competition from Amazon and Flipkart.
In collaboration with autonomous mobility start-up Ottonomy IO, Snapdeal has successfully tested last-mile delivery using robots in select locations of Delhi-NCR.
E-commerce platform Snapdeal has filed preliminary documents with markets regulator Sebi to raise funds through an initial public offer (IPO), joining the league of internet-led businesses looking to list on domestic stock exchanges. The public issue comprises fresh issuance of equity shares worth Rs 1,250 crore and an offer for sale (OFS) of 3.07 crore equity shares, according to the draft red herring prospectus (DRHP). According to market sources, potential listing could value Snapdeal at about $1.5-1.7 billion.
The Central Consumer Protection Authority (CCPA) has imposed a penalty of Rs 1 lakh on e-commerce major Amazon for selling pressure cookers that did not meet quality standards. The CCPA also directed Amazon to notify the consumers of all these 2,265 pressure cookers sold through its platform, recall the products and reimburse the prices to buyers, the Department of Consumer Affairs said in a statement.
Flipkart, Amazon, too, under radar
Not chasing IIM-A graduates whose joining dates have been deferred by rival Flipkart, says the company
The 24-hour delivery offer applies only to select postal codes and is not available across the country.
Flipkart and Snapdeal take a cue from Amazon even as they differ on who is ahead in the race
The online retailer offers largest assortment of products.
Snapdeal said on Wednesday it bought online mobile recharge firm Freecharge for an undisclosed amount.
The move comes at a time when Snapdeal is aggressively looking at optimising costs amid intense battle with Flipkart and Amazon.
Amazon has increased the commission on non-core segments by 2-9 per cent.
Snapdeal, which has raised about $400 million since its inception, has invested about $100 million in logistics and operations to expand its presence in the $3 billion Indian eCommerce market.
The market is abuzz with the talk of Snapdeal raising up to $600 million (Rs 3,600 crore) with new investors such as Japan's Softbank and Japanese e-commerce company Rakuten.
According to sources, employees from marketing, ad-tech, category, digital marketing, engineering team, catalogues, have all been asked to leave.
Snapdeal delivers to the Dharavi centre, where buyers pick up their orders.
Snapdeal is conducting due diligence on ShopClues, a move that may lead to a potential acquisition of the latter, which may bring in a fresh infusion of funds for the new entity.
The term sheet with Flipkart could be signed within this week and the due diligence for the deal would commence immediately thereafter.
Indian online retailers have been raising funds to expand and compete with bigger rival Amazon.com Inc as more Indians shop on the Internet.
Amazon's fulfilment centres, which store products of hundreds of vendors selling on the American online major's platform, are being cited by Karnataka state government authorities as a primary concern in an ongoing tax dispute.
Snapdeal to invest up to $200 mln to improve deliveries.
Amazon India has caught up with Flipkart and overtaken Snapdeal in terms of monthly unique visitors.
In October 2012, Flipkart entered the menswear segment; later it launched a womenswear range
According to industry studies, the Hindi Internet user base is likely to outgrow the English user base by 2021 and along with Marathi and Bengali users, will drive volume growth.
This was only four days after many aggrieved buyers chose social networking sites to attack Flipkart's 'Big Billion Day' discount this Monday (October 6), followed by an apology from the company's co-founders, Sachin and Binny Bansal.
These workers have been asked to undergo a 30-day performance improvement plan.
Snapdeal's rival Flipkart had last announced its GMV in March this year -- $1 billion. Many rounds of funding later, sources estimate Flipkart's GMV at about $3 billion, a figure Snapdeal is trying to catch up with.
Alibaba Group Holdings Ltd may scrap plans to invest in online marketplace Snapdeal, technology website Recode has reported.
The move is a show of faith from three of the world's biggest technology companies in fast-growing Snapdeal
Amazon India, Flipkart and Snapdeal are currently locked in a battle for market leadership in the burgeoning Indian e-commerce sector.
As per market estimates, the new round would value the city-based firm at about $ 4-5 billion.
'Saying that Snapdeal is not doing well is beyond premature. Suggesting that someone has won or lost is myopic.'
Tata Sons Chairman Emeritus Ratan Tata said e-commerce is one of the areas where is he looking to personally invest because of its "good potential" as a large proportion of the country's consuming public do not have the required access to goods.
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