Tech in Asia — India’s biggest ecommerce company, Flipkart, finally launched its own digital wallet PhonePe this week. The wallet officially started working on subsidiary Myntra today. Flipkart tied up with India’s Yes Bank to launch what it is calling “India’s first unified payments interface-based mobile payments app.”
Times of India — BENGALURU/MUMBAI: As the Seattle-based e-commerce juggernaut Amazon closes in on the pole position of the Indian e-commerce market, its founder & CEO Jeff Bezos has announced that his company will pump in an additional $3 billion investment into India, taking its total capital commitment here to $5 billion.
Tech in Asia — For years now, ecommerce’s bloody fight in India has been a story that revolved around gross merchandise value (GMV), the number of sellers, and the amount of stuff each website listed on their platforms. Flipkart and Snapdeal, the two biggest Indian ecommerce sites, have had their own conflicts as they one-upped each other on GMV targets and otherwise, while dropping the ball on customer care.
Live Mint — Bengaluru: Nearly nine years after starting out, squaring up against two of its role models and making some costly missteps along the way, Flipkart Ltd, India’s largest e-commerce firm, finally seems to have a blueprint of what its business model will look like.
Enterprise Innovation — Indian eCommerce marketplace, Flipkart, will collaborate with MapUnity, a Social Technology Lab, known for developing a variety of platforms for urban management, safety and transport. The collaboration may see Flipkart’s Mapping business – Flipkart Maps – taking a more central role in the company’s business schemes.
Times of India — NEW DELHI: Leading ecommerce companies may not be able to comply immediately with the recent stipulation to cap any vendor on their platforms at 25% of total sales. They will only be able to do so after the current financial year ends, said people aware of the matter.
Times of India — BENGALURU: Leading e-retailer Flipkart on Wednesday opened a mobile website using a UC Browser of China to enable its users to access its offerings even on a slow 2G network. “Our mobile-site on UC browser brings a wider base of shoppers closer to a better mobile experience with core features such as search, offers and cart,” the city-based e-commerce major said in a statement here.
Times of India — BENGALURU: Online marketplace Paytm is piloting a service where goods shipped from its platform will be delivered by Ekart, the logistics arm of Flipkart, signalling collaboration between the leader and a fast-growing rival in the fiercely competitive e-tail sector.
Times of India — When Sumit Malhotra, a Delhi-based advertising professional, wanted to buy a 64GB pendrive for his son, he didn’t hunt for the best deal on Flipkart, Amazon, or Snapdeal. Neither did he call his office stationery person. He got it directly from China — via AliExpress, an online shopping arm of Chinese e-commerce giant Alibaba.
Times of India — BENGALURU: Flipkart was the most preferred e-commerce website by online consumers buying smartphones last year, with the company accounting for almost half of the online sales, says a research report by Counterpoint Research, a mobile phone sales tracking platform. Snapdeal and Amazon followed with market shares of 22.3% and 21.5% respectively. Flipkart had a 47.5% share. The top three players contributed to 91% of all online smartphone sales.
First Post— Chinese e-commerce major Alibaba Group is planning to enter India this year and is looking at opportunities to build the business organically or through other means. “We are planning to enter the e-commerce business in India in 2016. We have been exploring very carefully the e-commerce opportunity in this country, which we think is very exciting on the backdrop of Digital India,” Alibaba Group president J. Michael Evans said in New Delhi.
Times of India — BENGALURU: Online retailer Flipkartsees a big opportunity in selling automobiles and accessories online as it scouts for categories to both boost revenue and deliver profits. The Bengaluru-based company plans to aggressively push sales of motorcycles, scooters and cars on its platform besides selling spare parts and services, according to a top official.
Times of India — BENGALURU: Flipkart will spend more on technology this year, as it ramps up its online capabilities, especially in mobile, thereby boosting the headcount of its technology and engineering teams by at least half. This comes at a time when India’s largest ecommerce firm is locked in a battle for supremacy with arch rivals Amazon and Snapdeal.
Times of India — NEW DELHI: Leading Indian e-commerce player Flipkart has announced that it is shutting down its hyper-local service ‘Nearby’. The app was launched five months back in order to experiment grocery delivery in Bengaluru. Flipkart Nearby provides wide range of products ranging from daily use items such as toothpaste, soap, groceries to various personal and baby products. The app consists of several categories including branded food, groceries, beverages, dairy and eggs.
Times of India — BENGALURU: For Flipkart’s new chief executive Binny Bansal, it’s not enough that the electronic marketplace is the country’s largest. He wants to build an internet powerhouse out of India that can match the might of Chinese e-commerce giants such as Alibaba and Baidu that have been able to thwart Amazon’s efforts to dominate in their home turf.
Tech in Asia — The trend of buying things through chat has taken off in such a big way in China that some wonder if it’s a sign that chat commerce will pose a threat to conventional ecommerce around the world. The prime example of this trend is WeChat, China’s most popular messaging app that just turned five years old. Some of our writers have spent entire days using nothing but the chat app – and have all lived to tell the tale.
Times of India — BENGALURU: The battle for the top spot among online marketplaces is heating up with market leader Flipkart gaining leadership in the mobile commerce space with 47% share of the traffic for December 2015 according to data mining firm, SimilarWeb.
Times of India— BENGALURU: Flipkart has started talks with investors to raise about $1.4 billion (Rs 9,200 crore), four people aware of the development said, as it keeps up its fundraising spree and tries to cement its leadership in the online retail market. US-based Sands Capital Management, two direct sources said, is in talks to lead the round with funding of $700 million.
Times of India — BENGALURU: Mobile gaming firm Mech Mocha has raised an undisclosed amount of seed funding from e-commerce major Flipkart and seed-stage investor Blume Ventures. Flipkart has been active in the mobile gaming space after having backed offline gaming startup MadRat Games last year in November.
Times of India — BENGALURU: Accel Partners has sold a fractional stake in Flipkart to Qatar Investment Authority for $100 million (about Rs 650 crore), in a deal that values India’s biggest online marketplace at $15 billion, according to two people aware of the transaction. Accel, the first venture investor in Flipkart, remains the second-largest shareholder in the e-commerce company behind New York-based hedge fund Tiger Global Management.
Times of India — BENGAULURU: Amazon has taken pole position on the web side of Indian e-commerce, a move that was perhaps aided in no small measure by Flipkart’s decision to take its eyes off the web and focus on its mobile app. Mobile accounts for 70-80% of e-commerce traffic today. Amazon issued advertisements in leading newspapers on Monday pointing out the achievement.
Times of India — BENGALURU: Flipkart cofounder and CEO Sachin Bansal on Monday said the company was a firm believer in a mobile-only strategy. Bansal said the e-commerce company would not be able to become an integral part of India’s mobile revolution if employees at the firm still thought with a desktop mindset.
Times of India — Taking on Flipkart Lite head-on, arch rival Snapdeal has announced Snap-lite. The Delhi-based e-commerce major has announced its own ‘lite version’, which its chief product officer Anand Chandrasekaran claimed will make browsing on Snapdeal 85% faster. In a tweet, Chandrasekaran wrote, “Is there a http://Snapdeal.com experience that’s 85% faster? Introducing Snap-lite (across all mobile browsers).”
Times of India — BENGALURU: E-commerce giant Amazon is taking lessons learnt from its daily battles with India’s choked roads and cramped cities to some of its largest developed markets, exporting a model of cheaper deliveries and reduced warehousing costs. Online shopping is booming in India, where millions of consumers are newly able to access the internet thanks to cheap smartphones. For Amazon, it is already the largest contributor of new customers outside the United States.
Times of India — MUMBAI: Flipkart India, the wholesale arm of India’s largest e-commerce company, posted three-fold increase in revenue in fiscal 2015, reflecting the rapid growth of the country’s online retail sector. Its revenue rose to Rs 9,351.7 crore in the year ended March, up from Rs 2,846 crore in the previous year, according to a recent filing with the Registrar of Companies.
Tech in Asia — A shopper in India can sign on to an ecommerce site and buy a product with the click of a button. How much does that click cost the store? According to Indian consulting firm Technopak, India’s ecommerce startups spend as much as 30 percent of their net income on logistics. In the US, Amazon is reported to spend 11.7 percent. On Alibaba’s marketplaces, the cost is entirely paid for by merchants and buyers.
Times of India — NEW DELHI: Flipkart, the country’s largest online retailer and marketplace, sold more than $200 million worth of mobile phones during the five-day Big Billion Days sale, with most consumers demanding 4G-backed devices, a top executive said. Flipkart sold 250 mobile phones every minute, of which 190 were 4G phones, during the five days, chief business officer Ankit Nagori said.
Times of India — NEW DELHI: With the onset of the festive season, it’s raining discounts and even gold bars for customers of Flipkart and Amazon as both e-tailers are trying to woo shoppers with best deals and grab market share. Both firms have invested heavily on bringing the best deals for customers across categories like apparel, electronics and household items as well as on logistics to ensure speedy delivery to ensure the customer experience doesn’t suffer, analysts said.
Times of India — When Tanuj Mendiratta hit the road in December to raise money for his mobile marketing firm Appiterate, he found not many venture capital funds were keen on investing in business-to-business startups such as his. He needn’t have worried. The company’s product, already being used by online marketplaces such as Snapdeal, drew a lot of interest from Indian internet companies looking to beef up their mobile applications.
Times of India — NEW DELHI: Punjabi singer Diljit Dosanjh or Assam’s latest pop sensation may soon be singing praises for Flipkart. India’s largest online retailer is gearing up to launch a large-scale campaign in 20 small cities, marking the beginning of a change in the company’s approach in targeting shoppers.