Quick commerce major Zepto has raised $340 million in a follow-on financing round at a valuation of $5 billion as it gears up for an initial public offering (IPO). This is Zepto's third big-ticket fundraise within a year. With this, the company has raised more than $1 billion in 12 months.
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.
After making the model work in metro cities, players in the quick commerce sector are rapidly expanding their footprint into smaller tier 2 cities and markets beyond that ahead of the festival season.
Several firms are stepping up to help their workforce cope with soaring temperatures
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.
'India has a lot of potential, not just in commercial aspects, but also in hiring of people and sourcing of products.'
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.
Recently, ex-Google executive Punit Soni joined FLipkart.
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?
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.
Kunal Shah has funded over 266 startups including Razorpay, Snapdeal, Zetwork, BlueSmart, Unacademy, Bliss Club, and Spinny, amongst others.
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.
After electronics and fashion, the next retail segment is food business.
Commerce and Industry Minister Piyush Goyal on Wednesday questioned Amazon's announcement of $1 billion investment in India, saying the US retailer was not doing any great service to the Indian economy but filling up for the losses it had suffered in the country. He said that their huge losses in India "smells of predatory pricing", which is not good for the country as it impacts crores of small retailers.
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 may walk away from ongoing discussions with telecom service provider Airtel for their platform 'Airtel Zero'.
The e-commerce story in India has begun to look up.
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".
Finally, some good news for the Indian startup ecosystem. After four consecutive half-year periods of declining funding since 2022, the first half (H1) of 2024 has shown an upward trend compared to the second half (H2) of 2023. According to the India Tech Semi-Annual Funding Report H1 2024 by Tracxn, Indian technology (tech) startups raised $4.1 billion in H1 2024, marking a 4 per cent increase from $3.96 billion in H2 2023.
They have struck gold by partnering online retailers.
Tencent reinforces India's consumer internet story. Ranju Sarkar reports.
Snapdeal and Flipkart to battle it out over Express Delivery
How much do you know Russian billionaire Yuri Milner, who has invested $ 100 million in a project to find extra-terrestrial life?
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
After a tentative start, quick commerce (q-commerce) is ablaze, with Blinkit and Zepto slugging it out in a market distinct from other competitors. The latest entrant is Flipkart, which is ramping up its infrastructure in around 12 cities where it will launch the service in the next six to eight weeks, taking on existing players such as Blinkit, Zepto, Instamart, and BigBasket, among others. According to data analysed from Sensor Tower by BofA Global Research, the daily active user (DAU) base of Blinkit has grown by 58 per cent between February 2023 and February 2024.
After another profitable quarter, Anil Chanana, chief financial officer, HCL Technologies, tells Karan Choudhury that customer confidence is at an all-time high.
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.
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.
Advertising industry watchdog ASCI upheld complaints against 82 campaigns in June for misleading ads, including those of Flipkart, Uber, Snapdeal, Vodafone.
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.
With the fashion world blurring the lines between innovation, technology and reality, shopping is all set to be revolutionised.
Jeff Bezos, chief executive officer of Amazon, has committed to invest $5.5 billion into India and that figure is approaching quickly.
Accuses foreign-funded competition of 'capital dumping' to capture market, bats for stronger regulations for sector.
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 second day of the placement season at Indian Institute of Technology (IIT) - Madras on Tuesday saw e-commerce major Flipkart Internet Pvt Ltd recruiting 19 students - the highest offer so far this season.
'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.'
Unlike some of India's largest online retailers like Flipkart, Amazon, Myntra and Jabong, which are very secretive about their data and use it to cut better deals with brands than their competitors, the Nykaa monetising its insights. If it is is able to do so without giving away any of its advantages to competitors, it could be on to a winning model.
