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Flipkart India logs 9% revenue growth at Rs 55,823 crore; losses widen by 42%The B2B unit’s net loss expanded by 42% to Rs 4,845.7 crore during the period under review as against Rs 3,404.3 crore in FY22. Flipkart In...- Amazon to lay off around 1,000 staff in India: reportAmazon CEO Andy Jassy on Wednesday announced the e-commerce giant will lay off over 18,000 employees, starting January 18.
- Govt readies draft norms to counter fake reviews on sitesThe pandemic, especially, saw massive escalation of ecommerce. A report by Redseer Strategy Consultants said online sales (or gross merchan...
- Amazon launches benefits programme to help sellers boost growthThe online retail giant aims to simplify the seller experience by providing customised and actionable recommendations that help them improv...
- Phone retailers call government to block predatory pricingRetailers want govt to curb etailers from forging tie-ups with smartphone makers to offer lower prices
- CBIC looks for public feedback to curb GST evasion by etailersThe government has already sought suggestions internally on how to curb duty evasion.
- Flipkart springs surprise checks on sellersFlipkart aims to reduce returns by 10-15 per cent in the next 12 months by enhancing quality of products and thereby increase sales.
- Investors are bullish on fashion etailers but only on those within striking distance of profitsIn just six months, Mr Voonik, a personalised fashion app for men, has crossed 4 million downloads and is doing 10,000 orders daily, claims...
- Amazon India builds 'big' web lead over FlipkartAmazon had an average monthly user visit of around 180 million, far ahead of Flipkart's 120 million.
- Ecommerce policy may not stop discounting by e-tailers: India RatingsInd-Ra also said the traditional offline retailers are unlikely to benefit as the policy is directed towards defining and limiting the scop...
- Mobile payments startup JusPay gets Rs 40 crore from Accel, Bookmyshow foundersThe deal values three-year old Juspay at over Rs 200 crore. Accel has picked up about 20% stake in the company.
- Astro's Askmebazaar eyes billion-dollar valuationAstro has built a sizeable digital portfolio in India of over $200 million, of which Getit is the largest where it holds over 90% stake.
- Alibaba determined to inject optimism despite a faltering Chinese economyAccording to a November report from China’s ministry of commerce, 77.14 million rural Chinese shopped online last year — a 40.6% increase.
- Strict checks help eBay keep defect rates lowThe etailer has 65,000 sellers, 20,000 of which offer exports. According to the company, 33-38 per cent of its sellers fall under ‘eBay top...
- Billion-dollar cracker for Diwali: Flipkart, Snapdeal shore up capital for the upcoming festive seasonFlipkart is said to be raising $1 bn from existing investors at a post-money valuation of $15 bn, according to two sources familiar with th...
- Paytm in discussions with AliExpress over possible business cooperation“According to our initial estimates, we’ll be able to double our gross merchandise within six months with the help of AliExpress integratio...
- Consumer Internet companies spending Rs 30-120 crore each, every month, say industry executivesSeveral industry executives that ET spoke to estimated that burn rates range from Rs 30 crore to Rs 120 crore every month at top companies.
- Snapdeal's expected loss to increase five fold, pegged to be Rs 1500 croreSources privy to the financials of Snapdeal told ET that it is spending more than $20 million every month in an aggressive strategy to disc...
- Grocery etailer BigBasket finalising new round of financing; to bring in Rs 100 croreSilicon Valley-based Bessemer Venture Partners is likely to lead the new round, which is expected to see the valuation of the company cross...
- Fashion e-tailers like Jabong and Myntra clock up impressive numbersAs Amazon chief Jeff Bezos had said, the big success of fashion etailing is the biggest learning he's taken away from India.
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