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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Myntra clocks sales of Rs 850 crore in January

myntra_feFlipkart-owned Myntra registered sales of over Rs 850 crore ($126 million) in January, including those from its recently acquired unit Jabong, a financial daily reported on Monday. Buoyed by its ‘End of Reason Sale’, the online fashion retailer hit an annual revenue run rate of $1.6 billion during the month, Mint reported, citing two executives […]

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Amazon plans online food venture in India

Amazon plans online food venture in IndiaUS-based Amazon.com Inc has reportedly sought government of India’s approval to launch a wholly-owned online venture which can stock and sell food products in the country. Amazon is planning to invest $500 million for this project and has applied to the Department of Industrial Policy and Promotion (DIPP) for an approval, reported The Economic Times. […]

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Google ends Apple’s 5-year reign as world’s most valuable brand

Google_121212Google has dethroned Apple to become the world’s most valuable brand, ending the iPhone maker’s five-year reign at the top. According to Brand Finance’s Global 500 2017 report, Google’s brand value surged as much as 24 percent last year to $109.4 billion. Cupertino-based Apple’s brand value, however, fell 27 percent to $107.1 billion, and it […]

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Flipkart may raise funds at lower valuation

VCCircle_Flipkart8E-commerce company Flipkart could be preparing to raise a new round of investment at a significantly lower valuation than its previous fundraising exercise, a media report said. Flipkart is likely to raise Rs 3,400-5,400 crore ($500-800 million) at a valuation of $10-12 billion, The Economic Times reported citing two unnamed sources. This is a far […]

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Snapdeal investor Vani Kola joins Flipkart, Ola in ‘capital dumping’ debate

Vani Kola, MD, Kalaari CapitalIn December last year, Sachin Bansal, co-founder of India’s largest e-commerce company Flipkart and Bhavish Aggarwal, co-founder of ride hailing service Ola hit out at foreign-origin firms on their capital dumping practices and asked the government for a ‘level- playing field’ for India’s startups. Now, prominent venture capitalist Vani Kola, founder and managing director of […]

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Amazon expands grocery delivery service in India to 14 cities

Amazon005The Indian unit of Amazon.com Inc has increased the number of cities where it delivers grocery and household items to 14, the company said on its website. The service, Amazon Pantry, was earlier only available in Hyderabad when it was launched as a pilot last July. An Amazon spokesperson confirmed to Techcircle that Amazon Pantry […]

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