BENGALURU: Startup entrepreneurs erupted in joy after the country’s largest online retailer Flipkart retreated from a programme that critics said could have resulted in an unequal Internet and stifled competition. By turning its back on India’s largest mobile phone company Airtel, Flipkart is responding to pressure from within and without after severe criticism of its intention to use its substantial financial muscle to subsidise users of its app, analysts said. In a statement on Tuesday, Flipkart said it is “walking away” from talks with Airtel, and even took a swipe at the telecom company by remarking that the ‘Airtel Zero’ subsidisation platform violates its “principles”.
NEW DELHI: Chinese phone maker Xiaomi Tuesday ended its exclusive partnership with Flipkart and joined hands with new online partners Amazon and Snapdeal to sell its products in the country. Xiaomi’s India head Manu Jain announced these new partnerships on Twitter and tweeted that customers can now purchase Mi products from Flipkart, Snapdeal, Amazon, The Mobile Stores and Airtel India stores.
NEW DELHI: Alibaba founder Jack Ma is back in the capital after a gap of four months and has backed business-to-business (B2B) e-commerce as the model best suited for India and China, while pointing out that B2C, being pushed by the likes of Amazon and Flipkart, was the American model. Ma — a schoolteacher who became China’s richest man after listing Alibaba last year — met Prime Minister Narendra Modi on Monday and indicated to the possibility of a larger India presence, sources said.
NEW DELHI: Domestic e-commerce major Flipkart has said it will generate over 20 lakh jobs through its marketplace and ancillary services this year. The Bangalore-based firm expects 60% of this employment to be generated in the logistics and warehousing sector. “Sellers on our marketplace have been directly responsible for driving employment within their own communities. In fact, e-commerce support facilities like merchandising, buying, packaging and cataloging have generated more than 75,000 jobs in the last one year,” Flipkart Senior vice president (Marketplace) Ankit Nagori said in a statement.
NEW DELHI: India’s largest e-commerce company Flipkart.com is seeking to distance itself by more than an arm’s length from largest supplier WS Retail, which currently accounts for more than 80% of the platform’s total sales. The move to emulate Alibaba.com’s Tmall will allow Flipkart to focus better on the marketplace model. In the past few weeks, the site has told several companies and brands, which sell on the site through WS Retail, to sell directly to consumers through its marketplace in the coming months.
Indian ecommerce leader Flipkart has just announced its acquisition of mobile ad network AdIQuity which enables app developers and mobile publishers to monetize their inventory. “M&A (mergers and acquisitions) is a key focus for us this year. And given our concentration on mobile, companies that have made a mark in this space will be on our radar,” a Flipkart spokesperson told Tech in Asia.
BANGALORE: Flipkart will soon offer online advertising and brand consulting for vendors using its electronic marketplace, its diversification into fee-based businesses much like Google or Facebook aimed at chasing new high-margin revenue streams to accelerate profitability ahead of a potential public listing. On the commerce front, the company has picked furniture as a category it will seek to expand in as part of this thrust into higher margin areas, sources familiar with the company’s plans told ET.
NEW DELHI: Homegrown online marketplace Flipkart is eyeing sales worth $8 billion (about Rs 50,000 crore) in 2015 in terms of total value of goods sold, more than double of $3 billion clocked last year. Increasing internet penetration and online shopping by youngsters helped the e-commerce firm hit a gross merchandise value (GMV) of $1 billion in March 2014.
MUMBAI: At a time when fashion sales at Flipkart and Myntra have collectively crossed the billion-dollar mark in run rate, Myntra may look to phase out its web presence completely in a strong testimony to the exponential growth of mobile internet in the country. This will be the first such instance of a mainstream online retailer morphing into a mobile-only player as internet usage over smartphones surges in India.
BENGALURU: When Chinese phone maker Xiaomi starts its own portal to sell phones in India, it may adopt the model followed by Amazon and Flipkart to work around the country’s retailing regulations. Xiaomi will likely set up a marketplace platform and bring on board third-party retailers to sell the phones on its portal Mi.com. Xiaomi will supply the sellers so that it doesn’t flout retailing norms, according to sources.
BENGALURU: Online retailer Flipkart, which took quite a few knocks during its big discounted sale day last October, has started preparing for another such event at the end of this year that will be ‘many times bigger’ and is working to improve its ability to anticipate demand, deliver goods faster and eliminate sub-standard and fake products. “The sale emerged as a great learning experience for us and we have already started to implement processes in order to scale up our tech capabilities,” said Sachin Bansal, CEO and co-founder of Flipkart.
Flipkart is reportedly exploring ways to reduce delivery times to as little as three hours. The Indian ecommerce company is working on the logistics and evaluating the kind of products that can be a part of the initiative. It could introduce this service in three to four cities as early as July this year. The customers are, of course, expected to pay extra for the services, but it is a service that could be used in emergencies. Flipkart currently offers same day delivery in 10 cities, for INR 140 (US$2.20) per item.
India’s homegrown ecommerce leader Flipkart just announced another whopping funding round. This time, it raised US$700 million investment from new investors Baillie Gifford, Greenoaks Capital, Steadview Capital, T. Rowe Price Associates, and Qatar Investment Authority, along with existing investors DST Global, GIC, ICONIQ Capital, and Tiger Global.
Last week, Xiaomi launched its Redmi Note in India. The smartphone will be sold on India’s leading ecommerce platform Flipkart exclusively. In fact, there’s nowhere else you can buy a Xiaomi phone in India. Flipkart is the exclusive sales front for Xiaomi’s entire range of popular, attractively priced phones with cutting edge specs in the country.
Chinese smartphone major, Xiaomi is all set to kick-off another edition of Redmi 1S flash sale in India on 4 November via Flipkart. The company has confirmed that there will be close to 1 lakh Redmi 1S smartphone up for grabs on Tuesday’s flash sale. Xiaomi had an exhausting last week dissipating negative publicity caused by IAF’s advisory to its squadrons and their families to refrain from buying Redmi 1S.
NEW DELHI: China-based mobile Internet browser company UCWeb today said it has partnered with leading e-commerce firms including Amazon, Flipkart, Snapdeal for a 15-day Diwali shopping festival. “The idea is that you can browse and compare the product prices via UC Browser, to find the best available deals from Amazon, Flipkart, Snapdeal, Myntra, Jabong, Homeshop18 and Shopclues,” the company said in a statement.
Ecommerce might be young in India but it’s growing super fast. India’s ecommerce market will reach US$6 billion in consumer spending in 2015, leaping from US$3.5 billion in 2014, according to the latest data from Gartner . This makes it one of the fastest-growing ecommerce markets in Asia/Pacific. The potential for a 70 percent growth rate to be maintained or even accelerated can be seen from the low base from which it is emerging.
The new series of Yoga tablets will feature Intel processors. Lenovo will retail these products exclusively on Flipkart – one of India’s largest e-commerce portals. Among the four new models, only Yoga Tablet 2 (8-inch) will be on sale from tomorrow, the other three will be available for sale only from mid-November. The second generation of Yoga series has one 8-inch, two 10-inch and one 13.29-inch models. One will run on Windows OS, while the other three will feature Android OS at its core.
Home grown popular e-commerce site, Flipkart has reportedly begun sending apology mails to beleaguered consumers over the Monday’s (6 October) Big Billion Day flash sale fiasco. Despite minting huge revenue (close to $100 million/more than ₹600 crores) out of Big Billion Day gala, Flipkart’s much hyped flash sale faced severe criticisms over the poor handling of servers, which were unable to cope high incoming traffic volume leading to outages and sudden cancellation of the purchase.
“Yesterday was a big day for us. And we really wanted it to be a great day for you. But at the end of the day, we know that your experience was less than pleasant. We did not live up to the promises we made and for that we are really and truly sorry.” This apology note from Flipkart co-founders Sachin Bansal and Binny Bansal landed in my inbox tonight, just as it did for thousands of other Flipkart customers.