On a cloudy Monday this month, Mohammed Irshad flew from Kochi to Gurugram to attend an exclusive investor networking event. Among a handful of founders selected for the event, Irshad was to pitch his peer-to-peer learning start-up Notespaedia for funding in front of top venture capital investors such as AngelBay, Elevation Capital, and Inflection Point Ventures. He failed to woo them, but the feisty entrepreneur was determined to continue his hunt.
Employees can take 'unlimited bereavement leave' in case of loss of a family member. All employees are encouraged to take breaks on a daily basis. This includes a mandatory 1-hour lunch break where no other meetings can be scheduled.
The proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020, that are envisioned to protect consumer interests, may further compound the impact of multiplicity of regulations on the e-commerce sector, the Indo-American Chamber of Commerce (IACC) had told the ministry of consumer affairs. IACC, the apex bilateral chamber for Indo-US business, had told the government that the proposed amendments would increase compliance liabilities that risk severely impairing the growth of the sector.
Serial killer confusion in small-town South Korea, a struggling mission to save the tiger in the heartland of India, a slice-of-summer friendship by the Italian coast, Sukanya Verma lists a fascinating mix of must-watch fare on OTT this week.
Kate Winslet's turn as detective while Seema Pahwa turns director, all this and more on OTT this week.
Policy constraints may prevent many of the global retail giants from reaching their full potential.There are too many restrictions right now in the sector and policy makers lack clarity.
'Deeply flawed, Sacred Games and Mirzapur come nowhere close to representing the diversity of stories from this country,' says Vikram Johri.
Flipkart's value has eroded by a third from a peak of $15.2 billion to as low as $9 billion following several investor markdowns
Every competitor is eyeing the top slot that Flipkart holds.
Billionaire Mukesh Ambani-run Reliance Industries Ltd's retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore. PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.587 lakh crore.
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.
Flipkart, Amazon & Paytm have raised commissions from sellers.
Walmart, the world's largest retailer, is tripling its sourcing from India to about $10 billion a year by 2027, said Judith McKenna, president, and chief executive officer of Walmart International, the segment which includes the company's operations outside the US. "To achieve this, we are growing our sourcing team in India," said McKenna, during a fireside chat with YourStory founder Shradha Sharma at Converge@Walmart, the flagship event of Walmart Global Tech India. "Walmart has a 20-year history of sourcing from India and already exports more than $3 billion worth of Made-in-India goods each year to 14 markets worldwide." McKenna said the company has expertise in processes such as international standards and demand forecasting that businesses need to get ready to export.
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
One of the leading contenders in the Indian e-commerce space, Snapdeal has seen its fortunes falling amid strong competition from Amazon and Flipkart.
The company has notched up a total of $540 million in funds over the last six years, $360 million of which has flowed in two tranches this year itself.
Having grown swiftly since the acquisition of Flipkart by Walmart in 2018, it was looking at a valuation of $10 billion. However, factors such as lack of diversification, new e-commerce and data policies, as well as the overall investment environment, have slowed the process.
Ready to plan your week's binging schedule on the OTT? Sukanya Verma offers a menu full of curious offerings.
It is an aspirational smart-speaker with few rivals, says Veer Arjun Singh.
A growing variety of smaller and cheaper Android tablets from Google to Amazon.com Inc will catch on this year with more consumers and chip away at Apple's dominance since the first iPad launched in 2010.
Indian names that figure on the list, but lower down the pecking order include Tatat (101). Airtel (rank: 252), Infosys (287), Life Insurance Corporation of India (292), State Bank of India (334), HCL (390), Indian Oil (427), Reliance (445) and Larsen & Toubro (464).
Uber India has readied itself for another $500 million (Rs 3,300 crore) investment in the next three months.
The 2021 men's and women's U-17 European Championships have been cancelled due to the impact of the COVID-19 pandemic, UEFA said on Friday.
The device hits store in the US starting November 2, but Apple has not disclosed its price for Indian markets or the launch dates.
In its new avatar as the Department for Promotion of Industry and Internal Trade (DPIIT), it will directly be responsible for 'the welfare of traders and their employees'.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
Flipkart and Myntra, together, post higher sales than Amazon
Ramping up e-commerce operations and going beyond its current strongholds are key challenges for the grocery chain in its battle with Mukesh Ambani's retail behemoth.
Punjab faces many mortal threats. For most of these the people of Punjab are themselves responsible. And unless they take a brutal hard look within, their future generations have to be resigned to continue living with this constant slide, warns Shekhar Gupta.
Apple Inc is hosting a media event next Wednesday, where it is expected to unveil a faster, better-equipped version of its popular iPad tablet to thwart increasing competition from deep-pocketed rivals such as Amazon.com Inc.
For last two months, much of the discussion, a large part of due diligence, agreement negotiations, etc, have happened remotely.
According to sources, employees from marketing, ad-tech, category, digital marketing, engineering team, catalogues, have all been asked to leave.
Airtel Xstream will allow its subscribers to access live TV, video, music, news and sports on an over-the-top smart stick, interned-enabled set top box, and handheld devices.
Its trajectory in telecom is well known but now it is pushing for a similar leap into the ranks of the top players in its other businesses: media and entertainment, e-commerce, a series of online businesses ranging from health to education, and retail.
The wider NSE Nifty too fell by 20.15 points or 0.19 per cent to end at 10,749.75.
After a gruelling 24 hours, the PhonePe team has fully restored UPI on the payment platform. The app is up and running again with ICICI Bank as its new partner with all payment instruments enabled.
The Orwellian surveillance State is here. And here to stay, asserts Virendra Kapoor.
Most of Flipkart's business came from consumer electronics.
He said he will be 'cheering from the outside' and urged Flipkart team to continue with the momentum.
Morgan Stanley writing down its investment in the e-commerce leader by 27 per cent does not augur well for the sector.
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