Snapdeal to shut C2C marketplace Shopo

Snapdeal to shut C2C marketplace ShopoThe app and web store will not be operational after February 10. “The e-commerce market in India will continue its robust growth. However, we realise that it will take some more years for a broader ecosystem to develop around the C2C segment,” the post said. Sandeep Komaravelly, who headed Shopo, had quit Snapdeal recently, and […]

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Will Snapdeal really turn profitable in next two years?

Snapdeal_by-Junaid2Snapdeal co-founder Kunal Bahl has said that the e-commerce firm is looking to turn profitable in the next two years and that it doesn’t need to raise funds unless it decides to make an acquisition. “I see a relatively clear line of sight to (profit) and we’ve been making great progress in that direction also,” […]

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Lingerie e-tailer Clovia’s net sales grow 61%, losses widen five-fold in FY16

raised-thinkstock_feDelhi-based Purple Panda Fashions Pvt Ltd, which runs online-first lingerie and sleepwear brand Clovia, registered a 61% increase in net sales for financial year ended March 2016 even as net losses widened five-fold. According to data sourced from the Registrar of Companies (RoC) by VCCEdge, the research arm of News Corp VCCircle, Clovia’s net sales […]

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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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Lenskart losses widen in FY16, revenue jumps

LenskartLenskart Solutions Pvt. Ltd net loss for the financial year ended March 2016 widened to Rs 113 crore as the eyewear retailer spent more on advertising and promotions, a media report said on Wednesday. The company’s revenue for 2015-16 jumped 63% to Rs 99 crore, Mint reported citing documents filed with the Registrar of Companies […]

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Flashback 2016: Challenging year for India’s unicorns

flashback-logo_feThe internet and tech unicorns that sprung up in the recent years have inspired the entrepreneurial spirit among the country’s youth. They attracted billions of dollars of foreign capital and triggered the rise of hordes of startups. The good run in terms of expanding customer base, successive rounds of funding at ever-increasing valuation and steady […]

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Flashback 2016: Flipkart braves markdowns, Amazon threat

For-Flipkart-Story-TC_Shah-JunaidA steep markdown in valuation, series of top-level exits, heightened competition and prolonged funding drought—India’s biggest e-commerce company Flipkart has had a tumultuous year, to put it mildly. In fact, this was the first year since 2011 when investors didn’t infuse any capital into the company. Flipkart had raised $750 million in mid-2015. The previous […]

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Flipkart, Amazon to bet big on fashion in 2017

TC-lead-flipkartIndian e-commerce heavyweights Flipkart and Amazon India are aggressively focusing on the high-margin fashion segment as they aim for profitability in the long run. Both Amazon India and Flipkart are expanding their private labels in addition to exploring more exclusive brand partnerships to open up more revenue opportunities in fashion, one of the fastest growing […]

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