It will compete with rivals Amazon Web Services and Microsoft Azure
The Bansals losing out operational control of Flipkart comes at a time when global rival Amazon, in which Tiger Global holds a minority stake, is stepping up investment in India in an attempt to overtake the Bengaluru-based e-commerce firm.
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.
To take on Amazon, Paytm e-commerce plans to add close to a billion products from all across the globe to its shopping cart.
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.
Amazon Prime Video has announced a huge number of assorted Web series and movies, and the slate sure looks interesting.
Analysts say consumers would be the real winners.
Indian online retailers have been raising funds to expand and compete with bigger rival Amazon.com Inc as more Indians shop on the Internet.
The two companies have been negotiating to remain separate entities after a merger.
Its success script: Investing more in local content ecosystem; growing its partnership footprint.
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.
Flipkart eyes another $500 mn from eBay, which seeks to merge India ops with it and exit business
Tax collection at source would lock in Rs 400 crore of seller money, say Flipkart, Amazon, Snapdeal.
Are the big five using their dominance to shut out rivals? That is the key question, says Prosenjit Datta.
At the end of eight episodes, the climax is bound to leave you with questions but it would be fair to say that the two-episode backstory and the characters seemed far more interesting than the six-episode drama and tension that led to it, observes Divya Nair.
Seeks to cut biz costs by 10% for sellers across 24 verticals, by slashing fees and delivery charges.
Their startup investments number 13 so far, compared to 17 deals in 2020.
Flipkart has seen 33 per cent growth in past 6 months despite slowing e-commerce business and stiff competition from Amazon.
The Supreme Court on Wednesday took note of the consent of US e-commerce major Amazon and Future group and ordered the resumption of arbitral proceedings before the SIAC tribunal over Future Retail's merger deal to the tune of Rs 24,500 crore with Reliance Retail Ltd.
This is the sixth consecutive markdown in the valuation of Flipkart by the US firm.
Alnoor Peermohamed & Raghu Krishnan find out why the new CEO is said to be the perfect man for turning around Flipkart's fortunes.
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.
'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.'
All of the 56 impacted associates, eight in the senior management and 48 in the middle as well as lower management, have been offered enhanced severance benefits and out placement services to support their transition, the company said.
Aamir Khan, Madhuri Dixit Nene and Akshay Kumar headline OTT offerings this week. Plus, you'll find aliens, spirits, serial killers... Sukanya Verma lists them out.
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.
'We are very different actors and that can be a real gift because we bring out the best in each other.'
Something is cooking in online food delivery. After 15 years of grappling with the demands of the business - read cash burn - Gurugram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it reported a profit in the following quarter as well: Of Rs 36 crore in the second quarter compared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.
The partnership will also see the two parties cooperate on technology initiatives, including development of affordable smartphones.
Sellers on platform listed products out-of-stock on Monday against increased commission, fees on returns.
As 2022 draws to a close, a lot of movies and Web series are readying for release.
The US-based firm has marked down the value of Flipkart for the sixth time, the latest at a time when it has been struggling to raise funds at a valuation higher than or equal to $15.2 billion.
Tata Group chairman Natarajan Chandrasekaran on Thursday said the group's recently launched super app Neu is on an open architecture and it will host non-group brands as well. The Tatas finally launched its super app Tata Neu on April 7, after piloting it for months, but the group chairman claimed there was no delay in the commercial launch. Stating that the app has received an overwhelming response in the past seven days of going live, Chandrasekaran said the app is on an open architecture and will host products and services from non-Tata group companies.
Deepa Gahlot lists 10 gangster thrillers on OTT for those who have the stomach for gaalis and gore.
Future Retail Ltd (FRL) on Wednesday said it has filed an appeal in the Delhi high court against the status quo order on its Rs 24,713-crore deal with Reliance. On Tuesday, a Delhi High Court bench of Justice J R Midha had directed FRL to maintain status quo in relation to its Rs 24,713-crore deal with Reliance Retail that has been objected to by US-based e-commerce giant, Amazon. Following the Tuesday directive, FRL had said it would explore legal recourse.
Reliance Jio has suggested an alternative plan to the The Telecom Regulatory Authority of India (Trai) under which spectrum required by non-geostationary orbit satellite (NGSO) operators to run their gateway terminals should be auctioned geographically, based on districts, rather than circles as done for mobile services. For spectrum which would be required to connect user terminals (like individual homes), Jio has suggested it should be auctioned frequency-wise and exclusively to an operator at a pan-India level. The move is significant as the auctioning of satellite space spectrum has been vehemently opposed by low earth orbit satellite operators (satellites which circle at low altitudes of 200-2000 km).
The importance of the three-match ODI series against New Zealand was not lost on Dhawan
Gautam Adani is now the fourth richest person on the planet. The chairman of the Adani group overtook Bill Gates -- once the richest man in the world -- this week.
Companies like Amazon Prime Video are also temporarily lowering bit rates -- a measure of how much data is being transferred -- to ease pressure on telecom network infrastructure.
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