Snapdeal to spend $1 billion on 5-6 acquisitions this year.
He said action was akin to holding highway builders responsible for lane violations
The company aims to bring in a million on-board sellers in the next three years.
Alibaba in talks to invest up to $700 million in Snapdeal
Idea is to bring millions of small and medium enterprises online by making it easy for them to list and sell.
'At Snapdeal, our aim is to become the best-in-class technology company.'
India has the highest proportion of CODs at 60% of total orders, compared to 50% in China, 28% in Indonesia, and 24% in Brazil
60,000 Maggi kits sold out in 5 minutes on Snapdeal!
Indian e-commerce company raises Rs 600 crore in sixth round of funding.
'Saying that Snapdeal is not doing well is beyond premature. Suggesting that someone has won or lost is myopic.'
Shopclues, the latest unicorn, was at the bottom of the sector loss pie.
Snapdeal and Flipkart to battle it out over Express Delivery
Tata Group's Chairman Emeritus Ratan Tata has invested in online furniture company Urban Ladder, making it his second personal investment in an e-commerce firm after Snapdeal.
The writing has been on the wall for some time and it showed up prominently during the festival-season sales last year, when Meesho toppled Amazon to become the second-largest player in order share. During the sales season, 60 per cent of the orders Meesho received were from tier-4 cities and beyond. According to a report by consulting firm Redseer, festival-season sales last year were driven primarily by tier-2 and tier-3 cities, with 64 per cent of the shoppers coming from those.
Consumers are set to gain from discounts.
Founders should have faith in themselves, their vision and their team, feels Infosys founder Narayana Murthy.
Most e-commerce firms with 'Singapore holding structures' would opt out of the new Sebi platform
Five founders of e-commerce start-ups, four of them Bansals, say they had alternative ambitions chalked out.
Microsoft chief Satya Nadella said the tech giant will fund hundreds of new generation entrepreneurs in India's 'smart cities' space and is overwhelmed by the start-up culture in the country, especially in e-commerce.
Snapdeal employee, Deepti Sarna, who was missing since Wednesday evening, returned home on Friday.
Advertising industry watchdog ASCI upheld complaints against 82 campaigns in June for misleading ads, including those of Flipkart, Uber, Snapdeal, Vodafone.
'The success of one or two IPOs does not dictate whether the upcoming IPOs will be successful or not, but it certainly indicates that the markets and investors are enthusiastic about startup IPOs.'
Dipti Sarna had revealed that she was abducted by four men at knife point while she was on her way back home in an auto-rickshaw.
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.
Sixty-five per cent of the company's sales are coming from Tier II cities and beyond, says the company CEO.
'The World Cup alone is expected to create an additional 100,000 jobs, most of which will comprise gig workers in the delivery space, transportation, hospitality and event management.'
Snapdeal's new customer acquisition has doubled.
The 24-year-old Snapdeal employee who went missing on Wednesday said that she was abducted by four men at knife point while she was on her way back home in an auto-rickshaw.
The government on Thursday said 18,600 toys have been seized in the last one month from major retail stores, including those of Hamleys and Archies, at airports and malls across India for lack of BIS quality mark and use of fake licences. Meanwhile, consumer protection regulator CCPA has also issued notices to three major e-commerce players -- Amazon, Flipkart and Snapdeal -- for alleged violation of toys quality control order, it said. Since January 1, 2021, the government has made it mandatory for toys to conform with safety norms specified by the Bureau of Indian Standards (BIS), a national standard setting body.
SoftBank-backed hospitality major OYO is planning to reduce the number of shares it aims to sell through public listing because of reduced capital requirements and technology headwinds. This comes at a time when valuations of start-ups, including that of OYO, have taken a hit. "OYO earlier filed papers for its IPO (initial public offering) based on its funding requirements at the time.
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.
The Central Consumer Protection Authority (CCPA) has imposed a penalty of Rs 1 lakh on e-commerce major Amazon for selling pressure cookers that did not meet quality standards. The CCPA also directed Amazon to notify the consumers of all these 2,265 pressure cookers sold through its platform, recall the products and reimburse the prices to buyers, the Department of Consumer Affairs said in a statement.
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.
The Central Consumer Protection Authority (CCPA) has issued notices to five e-commerce entities, including Amazon, Flipkart and PaytmMall, as well as various sellers for offering pressure cookers that are non-compliant with BIS norms. The notices were issued on November 18 to Flipkart, Amazon, Snapdeal, Shopclues and PaytmMall, and the sellers. As part of celebrations of 75 years of Independence - 'Azadi ka Amrit Mahotsav', CCPA has initiated a country-wide campaign to prevent sale of spurious and counterfeit goods that violate Quality Control Orders published by the Centre, the government said in a statement on Monday.
HMSI is likely to announce a tie-up with Snapdeal for online two-wheeler sales next month.
Microsoft has become the first global Big Tech company to join the Open Network for Digital Commerce (ONDC), an Indian government initiative for developing a first-of-its-kind open network for digital commerce. The world's second-largest technology firm intends to introduce social e-commerce via its app in the Indian market later this year. ONDC is expected to open to the public in Bengaluru over the next fortnight as it enters into the next phase of the pilot for further fine-tuning before rollouts in other cities, according to a source in the know.
Japanese conglomerate SoftBank Group on Wednesday said it has recorded loss from investments to the tune of USD 1.4 billion, or over Rs 9,000 crore, for 2016-17 in Indian startups like Snapdeal and Ola.
The launch of Maggi's second noodle variant is in exclusive partnership with Snapdeal.
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.
Flipkart's valuation of $15.2 bn arrived at during latest round of $700-mn fund raise.
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