Times of India — BENGALURU: Flipkart has closed a funding round of $700 million (Rs 4,500 crore) at a valuation of $15 billion, scooping up capital for the first time this year as the battle for dominance in the Indian online retail market heats up. Existing investors including Steadview Capital participated in the latest fundraise, said two people aware of the development.
Amazon beat Q2 earnings expectations Thursday afternoon, sending the stock sky-rocketing. Growth in Amazon Web Services, the company’s profitable cloud computing business, soaked up much of the spotlight on the company’s subsequent earnings call, but there was one other topic that investors and analysts kept bringing up: India.
Digital News Asia — INDIA’S online marketplace powerhouse Flipkart has started rolling out image search on its mobile app, using technology from Singapore’s ViSenze for visual search and image recognition. The image search feature allows users to upload photos of fashion items and find similar products in terms of colour, pattern or style, inside the Flipkart merchandise database.
BENGALURU: Flipkart, India’s most-valuable startup, is gunning for primacy in three focus areas — social shopping, mobile interface and data mining — as it prepares for a second shot at hosting the year’s biggest online discount sale to bolster its position as the leader of India’s online retail market. The Bengaluru company, looking to erase memories of the logistical fiasco that marred its highly touted ‘Big Billion Day’ sale last year, is scrambling to scale-up its technology backend and improve customer experience.
MUMBAI: When did you last remember a postman knocking at you door? Even though it’s hard to recall such an incident, your friendly neighbourhood postman may now appear at your doorstep more often, delivering a book or a gadget bought on an e-commerce portal. The department of posts now delivers more than two lakh e-commerce parcels daily, double of what it used to a year ago, according to a national estimate. “E-commerce fulfillment (shipping) is a big business opportunity for us,” said Ashok Kumar Dash, chief postmaster general (Maharashtra Circle), India Post.
NEW DELHI: Eight months ago, the two scheduled a 20 minute meeting. They ended up talking for two hours. It was personal chemistry as much as business rationale that led to Alibaba’s financial arm investing $500 million in Paytm. Shelley Singh finds out how the two friends now plan to challenge the dominance of Flipkart, Amazon and Snapdeal in the $20-billion Indian e-commerce market. Since February this year, a flurry of executives have been travelling the 6,000-km distance between Alibaba’s headquarters in Hangzhou and Paytm’s base in Noida with an urgent frequency.
MUMBAI: Online marketplace Snapdeal has hit a sales run rate of $3.5 billion this month, what is known as gross merchandise value (GMV) in e-commerce parlance, bringing it closer to the scale of Flipkart, the country’s largest e-tailer. A Snapdeal spokesperson told TOI that sales done by merchants on its platform had risen four times in the current month as compared to the same period last year, propelling the etailer’s numbers.
MUMBAI: Indian e-commerce firms are offering funding help and tech support to woo small retailers, emulating a strategy used by Chinese online retail giant Alibaba Group Holding Ltd to expand into the towns and villages home to the majority of consumers. India’s biggest e-tailers such as Flipkart, Snapdeal and the local arm of Amazon.com Inc are online marketplaces, with commission from sellers accounting for the bulk of their revenue.
NEW DELHI: E-commerce website Flipkart, which is the exclusive sales partner of Motorola in India, has created a placeholder listing for the third-generation Moto G smartphone, suggesting that the handset can be expected to hit the market soon. First spotted by technology blog GadgetRaid, the listing has since been deleted from the Flipkart website.
The crescendo of shrill cries outside forced the top management of Flipkart into quiet introspection within. Last week, it abandoned a ‘zero rating’ discussion with Airtel only eight days after the telecom operator unveiled it. Under this arrangement, Airtel users would have been able to access Flipkart.com for free, with Flipkart paying Airtel for data consumed by users.
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.