911—The number that spooked Snapdeal

Snapdeal-Boxes_feOn Wednesday, Snapdeal founders Kunal Bahl and Rohit Bansal said they will not take salaries for an undisclosed period as the company struggles to survive. Well, that makes financial and ethical sense. It’s ethically right because it takes a large heart to admit mistakes and share the pain of employees, many of whom are losing […]

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Exclusive: eBay India’s head of product development Ramkumar Narayanan quits

Ramkumar NarayananRamkumar Narayanan, general manager and global head of monetisation products at eBay Marketplaces in India, has resigned from the firm. He was primarily responsible for generating revenues for eBay. Narayanan has confirmed the development to Techcircle. Previously, he was the vice president of global product management at Yahoo and also worked with Microsoft in the […]

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Is Flipkart clawing back in the game against Amazon?

In early signs of a reversal in fortunes, Flipkart has outrun rival Amazon India in gross sales in two consecutive months, after trouncing the US-based ecommerce company with its Big Billion Day sales in October. The Indian ecommerce giant recently witnessed a top-level management rejig. Citing four unnamed people familiar with the numbers of the […]

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Amazon plans to launch brick-and-mortar food outlets in India

Amazon005Ecommerce major Amazon has sought the Indian government’s approval to open food-only physical outlets combined with an online platform to sell locally produced food items. Citing a person who saw the application submitted to the government by Amazon Corporate Holding Pvt. Ltd, The Economic Times reported that Amazon wants to enter the food space in […]

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Amazon to set up two customer service facilities in Coimbatore, Noida

Amazone_shshAmazon Development Centre (I) Pvt. Ltd has announced plans to open two new customer service facilities in Coimbatore and Noida, taking the total number of such facilities in India to five. It has two sites in Hyderabad and another in Pune, which opened in 2015. “Both Coimbatore and Noida are fast-growing, vibrant cities with a […]

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Forrester trims India e-tail market estimate on note ban, regulatory woes

e-commerce_feUS-based market research company Forrester Research has cut the size of India’s online retail market by 36%, saying it will touch $48 billion by 2020. Last year, the firm estimated the sector to reach $75 billion by 2020. The retail market shrunk due to demonetisation, restrictions on e-commerce, slowdown in investments and fewer buyers, a […]

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Flipkart’s Sachin Bansal reiterates stand on ‘level playing field’ for local cos

Sachin-Bansal_feE-commerce giant Flipkart’s co-founder Sachin Bansal has re-ignited the debate around a “level playing field” for Indian startups, saying it is essential to ensure that local companies don’t get “prematurely killed” by foreign competition. “Indian companies can and they should build products which are world-class, and take them globally. Zomato, Practo and Freshdesk are clear […]

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Flipkart, Snapdeal unlikely to remain key players: Mahesh Murthy

Mahesh-MurthyInvestor Mahesh Murthy is known for not mincing words. The co-founder of Seedfund says several businesses in India have been created with the idea of selling to industry giants, signalling greed of both entrepreneurs and investors. He is also least bothered about the valuation markdowns of some consumer Internet firms, saying it will clear the […]

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Fashion portal Voonik’s FY16 sales rose twice as fast as its cash burn

For-FAbAlley-Investment-Theory-2_ThinkstockPhotos-525965617Voonik Technologies Pvt. Ltd’s net sales for 2015-16 rose almost forty-fold but losses widened 18 times, as the fashion e-commerce marketplace spent heavily on advertising to attract customers in a sector dominated by Flipkart-owned online retailers Myntra and Jabong. Net sales for the year through March 2016 climbed to Rs 16 crore from Rs 42 […]

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Amazon bets big on Prime Video, invests over $75 mn in India so far

Prime VideoUS-based ecommerce giant Amazon Inc has invested about Rs 500 crore (around $75 million) on its video streaming service Amazon Prime Video in India so far. Launched in December last year, the company has committed about one-fourth of its Rs 2,000 crore India budget to partner with local production houses, The Economic Times reported. Amazon […]

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