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.
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: Snapdeal-owned digital payments platform FreeCharge has announced its partnership with payment gateway CCAvenue. The partnership will enable FreeCharge customers to have access to real-time, multi-currency online payment services as well as one lakh online merchants across sectors like hospitality, retail, education etc.
Times of India — NEW DELHI: Moving away from the usual practice of focussing on GMV as a growth parameter, e-commerce major Snapdeal is now aiming to enable 20 million users to transact on its ecosystem daily by 2020. At a recent townhall, Snapdeal co-founder and CEO Kunal Bahl told employees that the new mission aims to pivot the entire organization around the number of users transacting daily on its ecosystem (Snapdeal, coupled with acquired entities like Freecharge).
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.
Enterprise Innovation — Snapdeal has unveiled a multilingual interface to enable millions of Indians to overcome language barriers and shop online in their preferred regional language. In time for India’s Republic Day on 26th January 2016, Snapdeal will be available in English and in 11 different regional languages.
Times of India — NEW DELHI: To enable its customers overcome language barriers and shop online in their preferred regional language, online market place Snapdeal on has launched its multilingual interface, a company statement said. From Tuesday, Snapdeal’s user interface on the mobile will be available in Hindi and Telugu.
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 — E-commerce firm Snapdeal has launched an advertising platform for its sellers called Snapdeal Ads. As the number of sellers on the marketplace platform grows exponentially, the ad platform will help the brands and sellers to help in discovery of their products and drive sales through targeted advertising tools. The tool developed in-house will allow the seller community to reach customers through product advertisements, enabling faster discovery across web, mobile web and apps, the company said in a statement.
Enterprise Innovation — Indian online marketplace Snapdeal recently introduced Snapdeal Motors, an exclusive automobile platform that offers an integrated buying experience for customers. The platform enables customers to browse through automobile options, book online for test drives, and avail of easy financing options. It also promises to give full documentation support to interested buyers.
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.
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.
First Post — 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 startup culture in the country, especially in e-commerce. Delivering keynote address at ‘Future Unleashed: Accelerating India,’ which is Microsoft’s largest ever customer conference in the country, Hyderabad-born Nadella also announced new partnerships with e-commerce leaders such as Justdial, PayTm and Snapdeal.
Times of India — NEW DELHI: E-commerce major Snapdeal has said it aims to help sellers raise about Rs 1,000 crore in loans through its ‘Capital Assist’ initiative. Launched in August last year, Capital Assist helps sellers meet their working capital requirement as they scale their businesses on the Snapdeal marketplace platform.
Tech In Asia — Will all stores eventually move online? Or will the first-mover advantage of offline stores mean that they forever remain an important and significant part of the way people shop? Indian ecommerce site Snapdeal’s latest launch, Janus, shows that it may just be a hybrid of the two. Janus is an omni-channel platform that integrates all aspects of ecommerce – from ordering a product online to customizing it and getting it delivered offline.
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: India’s e-commerce companies including Flipkart, Snapdeal and Jabong need to gear up for stricter norms on data security, confidentiality of personal information and consumer protection as the country prepares to implement regulatory processes prevalent in a regional trade block. The government is looking at accepting the best practices of sectors as part of the negotiations on joining the RCEP even as it is yet to take a call on opening up the sector completely to foreign investors.
Times of India — BENGALURU: With the launch of the Freecharge wallet on Tuesday, e-commerce biggie Snapdeal is taking on market leader Paytm head on. And whichever way you look at it, consumers will be the big winners, with banks and a host of independent ventures now launching similar wallets and making attractive offers to win users into this segment.
Times of India — NEW DELHI: E-commerce major Snapdeal will invest $100 million (about Rs 665 crore) in Shopo as it looks to build up the recently launched venture into a one million seller-strong platform. Launched in July, Shopo is a mobile-only platform, which aims to bring small and medium businesses (SMBs) that cannot register on bigger e-commerce portals.
Times of India — NEW DELHI: India’s e-commerce industry is likely to clock a compounded annual growth rate (CAGR) of 35% and cross the$100-billion mark over the next five years, from $17 billion at present, according to an Assocham-Pricewaterhouse Coopers study. Riding on the strong growth momentum of 2015, the e-commerce sector is estimated to see a 72% jump in the average annual spend on online purchases per individual in 2016, from the current level of 65%, the study said.
Times of India — BENGALURU: No online retailer in India will be even half Flipkart’s size by March 2016, a senior executive said, firing back at Snapdeal which claimed that it is on track to dethrone the Bengaluru-based company as the market leader. Flipkart will sell goods worth $10 billion (Rs 65,000 crore) during fiscal 2016, and “nobody will be even half of that”, the company’s head of commerce Mukesh Bansal told ET. “There is not a shred of doubt based on all the market numbers we have today.”
Times of India — NEW DELHI: Snapdeal has acquired Reduce Data, a Silicon Valley startup, for an undisclosed amount to strengthen its discovery platform as the e-commerce major competes head-on with giants like Flipkart and Amazon. The Mountain View-based company has a programmatic display advertising platform that leverages artificial intelligence, real-time data and other tools. Founded in 2012 by Asif Ali, the company has customers across the US, India and the UK.
Times of India — NEW DELHI: Online marketplace Snapdeal has raised $500 million (about Rs 3,269 crore) in a fresh round of funding from a clutch of investors led by Alibaba Group, Foxconn and SoftBank. Existing investors Temasek, BlackRock, Myriad and Premji Invest also participated in the latest funding round, Snapdeal said in a statement. The company had raised more than $1 billion, from investors including Softbank ($627 million) and iconic business leader Ratan Tata (personal investment).
Times of India — BEIJING: Indian online marketplace Snapdeal is set to raise $500 million from a group of foreign investors including China’s Alibaba Group Holding Ltd, three people familiar with the matter said on Monday. One of the people said the deal could be finalized within a few days at the earliest but may also take weeks.
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.
Times of India — MUMBAI: E-commerce major Snapdeal, which nets over 70% of sales from small towns, is betting big on rural markets and is actively assessing opportunities of partnerships for assisted e-commerce in remote areas.
NEW DELHI: Taiwanese electronics maker Foxconn Technology Group is scouting for the best deals in the Indian startup market — with help from two of India’s top entrepreneurs Kunal Bahl and Rohit Bansal — joining a growing list of global corporations looking for a share of the action in one of the world’s most dynamic startup hubs. Over a dozen Indian startups met Wen-Hsin (Vincent) Tong, chairman and director of investments at FIH Mobile Limited, an investment arm of Foxconn, at the New Delhi office of Snapdeal last weekend, according to two people with direct knowledge of the initiative.