Amazon in-house vendor Cloudtail posts four-fold growth in FY16 revenue

Amazone_shshCloudtail India Pvt. Ltd, which is part-controlled by Amazon.com Inc. and is believed to be the single-largest vendor on its Indian e-commerce marketplace Amazon.in, registered a four-fold jump in revenue for 2015-16. Revenue for the year ended 31 March 2016 increased to Rs 4,591.2 crore from Rs 1,145.4 crore the year before, three media reports […]

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Flipkart is already a leader and does not need a turnaround: Kalyan Krishnamurthy

Flipkart22Former Tiger Global executive Kalyan Krishnamurthy, who heads the key portfolios of retail, business development, advertising and products at Indian ecommerce firm Flipkart said he moved to the ecommerce major to stay the course rather than returning to the investment company. He said he has no immediate plans to return to Tiger Global, the biggest […]

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Flipkart’s loss doubles in FY2015-16

FlipkartThe net loss of Flipkart Internet Pvt. Ltd, which operates e-commerce major Flipkart, doubled to Rs 2,306 crore in the financial year ended 31 March 2016, compared with Rs 1,096 crore in the year-ago period, according to filings with the Registrar of Companies. The company’s revenues rose to Rs 1,952 crore in FY2015-16 from Rs […]

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Fashion e-tailer Koovs raises $13.5 mn

KoovsKoovs plc, the UK-based parent of Indian lifestyle e-tailer Koovs.com, said on Wednesday it has raised £10.9 million ($13.5 million, or Rs 92 crore) from existing and new investors including media house Times Group. Times Group invested £3.9 million, Koovs said in a statement. The company also has “firm indications of interest” amounting to about […]

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Amazon.in festive sales up three-fold; ships over 50 mn units

Amazon005E-commerce giant Amazon.in on Wednesday said sales on its platform grew three-fold compared to last year to over 50 million units during its five-day festive sale. Amazon.in’s festive sale “’Great Indian Festival’” started from October 1 and is slated to close today. Its rivals, Flipkart and Snapdeal, which started rolling out festive offers from October […]

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Exclusive: Paying salary for AskMe staff is management’s responsibility, says Astro

ASKme_Bazaar3Malaysia’s Astro Group, the controlling stakeholder in the defunct ecommerce firm AskMe, has put the onus to pay employees and vendors on the company management led by chairman Sanjiv Gupta. Astro has been under fire from Gupta and other employees of AskMe for not transferring funds as per its commitment, leading to suspension of operations […]

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Gametime raises $20 million to sell last-minute, textable tickets to sporting events and concerts

 Gametime has raised $20 million in venture funding for an app that allows people to find and buy tickets to

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