Even as their venture Snapdeal is clocking rapid growth, Kunal Bahl and Rohit Bansal are mentoring young entrepreneurs.
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.
Snapdeal had appointed merchant bankers for listing on an American stock exchange
These workers have been asked to undergo a 30-day performance improvement plan.
Two years after his dismissive stance on India's AI potential raised eyebrows here, OpenAI CEO Sam Altman on Wednesday gave a ringing endorsement to Artificial Intelligence momentum in the country -- and billed India as an important market not just for the new-age technology itself but for the ChatGPT creator as well. In New Delhi on Wednesday, Altman -- while sharing dais with Union IT minister Ashwini Vaishnaw -- said India is the second biggest market for the company and that Open AI had tripled its users here in the last year.
Alibaba Group Holdings Ltd may scrap plans to invest in online marketplace Snapdeal, technology website Recode has reported.
Snapdeal had rolled out a hike of 16 per cent and above for its top performers.
The Kunal Bahl-led firm wants to add 1,000 sellers every three months in its loan scheme.
Amazon signed up Motorola as an exclusive brand partner for its new devices, which in turn helped it grow
If the deal goes through, Snapdeal founders will get $60 million (cumulative), of which half will be given to employees.
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.
Snapdeal CEO Kunal Bahl said those who do not perform will have to leave.
India has the highest proportion of CODs at 60% of total orders, compared to 50% in China, 28% in Indonesia, and 24% in Brazil
Snapdeal and Flipkart to battle it out over Express Delivery
'Saying that Snapdeal is not doing well is beyond premature. Suggesting that someone has won or lost is myopic.'
Most e-commerce firms with 'Singapore holding structures' would opt out of the new Sebi platform
N R Narayana Murthy, co-founder of Infosys, blamed the venture capitalist community for inculcating a culture among entrepreneurs to chase growth at all costs. He said the VC model of investment looked like a ponzi scheme. "I would hold venture capitalists responsible who propounded the theory that only the top-line is important and not the bottom-line. "I think that is completely wrong. In many ways it looks like a ponzi scheme.
Shahrukh Khan is one of India's most loved "human brands", and while the drug controversy may have paused his endorsement engagements, it has not dented the superstar's popularity among corporate, as per industry experts. Right after the controversy around his son's arrest in an alleged drug case broke out, many companies halted ads featuring King Khan. Many of them are now back on screens.
Most of Flipkart's business came from consumer electronics.
The cost of luring buyers and sellers to its platform means the new funds won't last long.
Indian start-ups and software product companies are trying to attract engineers and programmers who are either stranded in India because of the lockdown or H-1B visa holders who have been laid off.
Falling valuations, slowing funding rounds and faltering investor sentiment seem to have prompted many start-ups to lay off employees in a bid to conserve cash. The latest to do so is SoftBank-backed Cars24, a leading e-commerce platform for pre-owned vehicles, which has laid off over 600 staff, according to sources in the know. The move, they said, is aimed at conserving cash amid cautious investor sentiment and a slowdown in funding.
Alibaba, the world's biggest e-commerce firm by transaction value, supports small businesses on its platforms.
While the first half of the year saw India's e-commerce market shrinking, the success of Diwali sales will boost the sector beyond last year's benchmark
Chinese e-commerce giant planning to enter India this year, will take on global e-retailer
The government, in February, had released the draft national e-commerce policy proposing setting up a legal and technological framework for restrictions on cross-border data flow and also laid out conditions for businesses regarding collection or processing of sensitive data locally and storing it abroad.
Eighteen months after the government started banning Chinese mobile apps, two distinct changes have occurred in the country's mobile app sweepstakes. The move has given a thrust to domestic app publishers, especially in certain segments and it has dramatically reduced the market share of Chinese apps. What started as an interim government ban on 59 Chinese apps, including the highly popular TikTok and WeChat in March 2020 ended as a permanent ban on many of them in January this year. According to a China Internet Report 2021 (by South China Morning Post), the market share of Chinese apps in India has dropped substantially from 44 per cent in 2018 to only 29 per cent in 2020. In 2017 it was 41 per cent.
12,000: Number of people Flipkart plans to hire in FY15.
In about a year, top e-commerce companies are expected to raise as much funds as the three sector leaders raised in about five years.
Flipkart has seen 33 per cent growth in past 6 months despite slowing e-commerce business and stiff competition from Amazon.
The largest e-commerce entity of China is setting up its first India office -- an indication that it intends to capture a pie of the growing e-commerce market here. Raghavendra Kamath & Alnoor Peermohamed report.
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New York Stock Exchange President 38-year-old Tom Farley (ranked 7) and Twitter co-founder and CEO 37-year-old Jack Dorsey.
The development comes amid Japan's SoftBank booking an investment loss of 39.28 billion yen (USD 350 million) on its investments in India, including those in Ola and e-commerce company Snapdeal.
USISPF slammed government's move and alleged that the amendments announced were without any consultation and are akin to changing rules in the middle of the game.
Prominent recruiters were Flipkart, Urban Ladder, AskmeBazaar etc
Set up by three former NDTV executives, the company is targeting premium restaurants in Delhi-NCR
The company has tied up with five distributors this year.
Online retail is increasing market share rapidly.
Globally, the viability of on-demand businesses is being questioned
'For the next three months or so, the market will go down.' 'Traders do not have Rs 100 notes.'
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