Last year, traffic jumped 15 times on Snapdeal's 'Big Sale Day' on Oct 6, when it had clocked Rs 1 crore a minute of sales over 10 hours.
The strategy these online marketplace companies follow in the next few months will determine whether Amazon gets to be the leader in 2017.
It hopes to leverage the growing number of mobile transactions
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.
Internet entrepreneurs are the next big thing in India.
The co-founder of Snapdeal was talking a day after he signed an agreement with Tata-run Croma
Prime Minister Narendra Modi had announced the policy last month.
Snapdeal's new customer acquisition has doubled.
Sixty-five per cent of the company's sales are coming from Tier II cities and beyond, says the company CEO.
The FDA Maharashtra on Friday lodged an FIR against Snapdeal.
'Shape up or ship out' message has been loud and clear across the new-age companies in the stressed market conditions
Alibaba, the world's biggest e-commerce firm by transaction value, supports small businesses on its platforms.
For the traditionalists, wars on Twitter and Facebook smack of immaturity.
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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.
Beauty and Personal Care (BPC) e-retailer Honasa Consumer's initial public offering (IPO) has failed to find backing from analysts due to the company's weak financial track record and expensive valuation. T Manish, research analyst at Samco Securities suggests avoiding the IPO as the company's financial performance does not inspire confidence. "The profit has been inconsistent and advertising and marketing expenses are incredibly high at around 40 per cent of the revenues.
'Saying that Snapdeal is not doing well is beyond premature. Suggesting that someone has won or lost is myopic.'
Recently, e-commerce firms have been under the lens for tax violation.
The founding members of The E-Commerce Council of India include Snapdeal, ShopClues, UrbanClap, Shop101, Flyrobe and Fynd, among others.
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.
Nandan Nilekani, Gokul Rajaram at top two spots in value terms
Ratan Tata has made investments in his personal capacity in more than 15 start-ups over the last 20 months.
India seeks greater market access for its products including textiles, pharmaceuticals and bovine meat.
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.
Far from public glare, company is investing in tech firms and providing consultancy.
The move will establish a level-playing field for domestic investments in start-ups compared to foreign-based sources.
Flipkart's valuation of $15.2 bn arrived at during latest round of $700-mn fund raise.
Experts believe more efforts would be needed in future funding rounds.
Last year, the top 10 investors in the country had put their money in 209 deals, according to the data compiled by VCCEdge based on deals disclosed. This year they put money in only 60 deals.
The Intel Capital India Technology Fund, with a corpus of 250,000, was established in 2005-06 in India through which tech VC has invested a lot in data centre technology, telecom and infrastructure, apart from e-commerce.
For the four new players, the spike in wealth is 126 per cent.
Unlike many peers in the VC space, LSE grad Juneja doesn't have an entrepreneurial background but is said to be strong in finance skills
'For the next three months or so, the market will go down.' 'Traders do not have Rs 100 notes.'
Over the past two years, Tata has invested in over 20 start-ups
Every competitor is eyeing the top slot that Flipkart holds.
E-commerce companies typically stick to the gross merchandise value run rate to calculate sales.
Tax collection at source would lock in Rs 400 crore of seller money, say Flipkart, Amazon, Snapdeal.
Chinese e-commerce giant planning to enter India this year, will take on global e-retailer
The turmoil, if you read the headlines, is about the so-called funding winter. Deep down, though, the question is one of the common direction in which founders and investors need to pull, points out Suveen Sinha.
Few angels have seen exits; till that happens, they won't be rushing to invest again.
Flipkart and Myntra, together, post higher sales than Amazon
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