Prosus-backed fintech firm PayU is set to acquire India's earliest payment gateway BillDesk in an all-cash transaction of $4.7 billion. This will be the largest acquisition in India's digital payments space. The deal will also give exit to investors General Atlantic, TA Associates, Temasek, Clearstone Ventures, and Visa. The proposed acquisition will help PayU, the payments and fintech business of Prosus which operates in more than 20 markets, become one of the leading online payment providers globally by total payment volume (TPV).
Far from public glare, company is investing in tech firms and providing consultancy.
Amazon India, Flipkart and Snapdeal are currently locked in a battle for market leadership in the burgeoning Indian e-commerce sector.
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.
From 690,800 sq ft in 2013, the absorption by e-commerce companies in Chennai dropped to 31,150 sq ft last year.
LG, Samsung, Videocon, Sony and Panasonic have instructed their trade partners that products sold through online marketplaces without their knowledge during flash sales will not get the benefit of after-sale service and warranties.
From mass layoffs to acquisitions, here's how the Indian start-up industry kept us on our toes.
Recently, e-commerce firms have been under the lens for tax violation.
The move will establish a level-playing field for domestic investments in start-ups compared to foreign-based sources.
Usually, online and offline discounts are similar. If discounts are too high, check builder's credentials.
Unprecedented pay and perks like free healthcare for in-laws helping the likes of Flipkart, Snapdeal tap talent
Experts believe more efforts would be needed in future funding rounds.
Prime Minister Narendra Modi had announced the policy last month.
Flipkart's appointment of Kalyan Krishnamurthy as CEO and Ola's choice of PepsiCo's Vishal Kaul for COO speaks to the growing trend of bringing in experienced professionals to run business. Karan Choudhury reports.
His presence matters more than the money he brings.
Snapdeal said it will give its users the option to defer the delivery by a few days till new currency notes become easily available.
Loses notional value by 37.5% because of markdowns by investors
Internet entrepreneurs are the next big thing in India.
Seeks to cut biz costs by 10% for sellers across 24 verticals, by slashing fees and delivery charges.
According to industry studies, the Hindi Internet user base is likely to outgrow the English user base by 2021 and along with Marathi and Bengali users, will drive volume growth.
The competition which BigBasket faces now is with the big three - Amazon, Walmart, and Reliance.
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
Domestic handset maker Intex has launched India's first Firefox OS based handset for Rs 1,999, targetted at capturing a larger chunk of the booming affordable smartphone market in India.
Fewer e-commerce companies hired candidates from B-schools this year.
Looking at the response time, brands are proactively snapping ties with celebrities in the face of controversy.
India is on its way to become a mobile app-first market and e-tailers and start-ups have begun their race to capture the next set of users in India - those who access vernacular content.
Jack Ma is learnt to have discussed about e-commerce, mobile telephony
Flipkart, Amazon & Paytm have raised commissions from sellers.
Flipkart has seen 33 per cent growth in past 6 months despite slowing e-commerce business and stiff competition from Amazon.
Mobile phones, televisions, refrigerators, laptops and stationary items will be allowed to be sold through e-commerce platforms like Amazon, Flipkart and Snapdeal from April 20 during the lockdown, officials said on Thursday. The clarification from a senior home ministry official came a day after Union home secretary Ajay Bhalla issued revised guidelines for the extended lockdown period till May 3.
The US-based firm already has two fulfilment centres in Mumbai and Bengaluru.
Customers can also book the Datsun redi-GO online through Snapdeal.com
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.
Bharatiya Janata Party's prime ministerial candidate, Narendra Modi, last month urged small traders to compete with foreign retail chains through e-commerce.
The big breakthrough in e-commerce came in October when the big three of Flipkart, Amazon and Snapdeal went into an overdrive to win customers and offered pre-Diwali sales with eye-popping discounts.
His investment in Paytm is in his personal capacity.
In 2015, e-commerce contributed significantly to the growth in television advertising revenues.
Amazon's huge investment of $80 million a month didn't win it favour over customers during the festive season, with rival Flipkart selling more goods, reports Alnoor Peermohamed from Bengaluru.
At that time, co-founders Sachin Bansal and Binny Bansal had made a public announcement at a Bengaluru hotel, about a $1-billion fund raising, largest so far in the Indian e-commerce sector. A day later, Amazon issued a statement that it was investing $2 billion in India.
After raising $2.5 billion from SoftBank's Masayoshi Son and his Vision Fund, Sachin Bansal and Binny Bansal are back in the driving seat at Flipkart, the company they founded over a decade ago.
