STARTUP
Peak day sales set to top 4.5 mn, double of non-sale day: Ecom Express
The average order size daily would be 3.5-3.8 million throughout the 45 day sale period that began this week
COMPANIES
Sale during prime day doubled against previous year: Amazon's Amit Agarwal
The company, which kick-started its six day flagship sale event The Great Indian Festival, expects sales for all days to be much "bigger and explosive"
BUSINESS
Uber finally looks at expanding beyond 31 cities in India
The development comes in at a time when Softbank-backed rival Ola has been on an international expansion spree. Besides India, it has expanded its operations to Australia, UK and New Zealand.
BUSINESS
Amazon invests Rs 590 crore in payments arm ahead of festive sale
The development comes as Amazon Pay is aggressively looking to push its wallet service beyond its marketplace to other online merchants across sectors such as grocery, fashion, automobile accessories, books, music and entertainment among others.
BUSINESS
Falling afoul of law? Amazon, Flipkart insist on Aadhaar details for loan-based sales ahead of festive season
They are offering Rs 60,000 as credit to consumers under their cardless scheme and are seeking Aadhaar details of customers, days after the Supreme Court said private companies cannot insist on Aadhaar
BUSINESS
TCS under GST: E-commerce cos seek relief on 'fundamental issues', level playing field with offline players
E-tailers say govt has addressed procedural issues, not fundamental ones
BUSINESS
Clash of Titans! Amazon's Great Indian Festival & Flipkart's Big Billion Days sale to begin on Oct 10
Interestingly, this year both Amazon and Flipkart have announced their sale to be on the same day. Till last year not all sale days of the two companies used to overlap
BUSINESS
DIPP becomes the nodal department for the e-commerce sector
The suggestion to make DIPP the nodal department is learnt to have come from NITI Aayog Chief Executive Officer Amitabh Kant
ECONOMY
E-tailers may be offered easier return filing rules for TCS under GST
Sources told Moneycontrol that the government will likely extend the first month’s return filing date to ease online marketplaces’ transition to the new system that kicks in from Oct 1
ECONOMY
E-tailers want TCS under GST deferred by three months; govt in no mood to budge
Sources in the finance ministry told Moneycontrol that the government will come up with FAQs on Monday clarifying rules on the 1 percent tax collected at source (TCS) for online marketplaces that will kick in from Oct 1
BUSINESS
Rahul Gandhi takes poll position, begins industry outreach; starts with startups
Over the last month or so, Gandhi has met more than a dozen entrepreneurs, including PolicyBazaar’s Yashish Dahiya, Bira91’s Ankur Jain, GOQii’s Vishal Gondal, and Snapdeal’s Rohit Bansal
BUSINESS
Ola raises $50 mn from Sailing Capital, China-Eurasian Economic Cooperation Fund
This $50 million to be raised by Ola is expected to be a part of the $1 billion, the company has been trying to raise.
BUSINESS
Meet the Ola transgender driver who had to fight society to live a life of dignity
From dancing in bars to begging in trains, she did it all to earn a living despite having a Master’s in Business Administration. Her only crime was to be born as a man.
BUSINESS
Amazon ramps up its offerings in large appliances ahead of festive sales
The company claims to have added around 500 products in the last few months.
BUSINESS
Exclusive | SoftBank, Nexus support conversion of preference shares to equity at Snapdeal
While an initial public offering would be a distant option for Snapdeal right now, the company told Moneycontrol in an email response that "the new structure is optimised to enable pursuit of long term value creation for all shareholders"
BUSINESS
Exclusive | Oyo sheds its budget tag, launches luxury property under brand Palette
The company plans to take this brand to international markets as well.
BUSINESS
Vijay Shekhar Sharma says will continue to acquire users, merchants aggressively
In an interaction with Moneycontrol, Founder and Chief Executive Officer Vijay Shekhar Sharma shares what this deal means for the company and the plans going forward.
BUSINESS
Here's why Warren Buffett is betting big on Paytm
Berkshire Hathway and its subsidiaries so far have invested in sectors including manufacturing, insurance, utilities and energy, freight rail transport, finance and retail.
BUSINESS
How Wishup is bridging gap between talented individuals, corporates looking for remote employees
According to data tracker Tracxn, India has around 21 companies offering services in the area of virtual assistants such as Nikki.ai, Haptik and SuperText.
BUSINESS
Flipkart receives Rs 260 crore from Bennett Coleman
BCCL which also publishes The Times of India newspaper, has invested this money in exchange for Class B equity shares in Flipkart.
BUSINESS
Dineout plans to raise $50 mn from existing, foreign investors
The round is likely to see participation from the existing investor Times Internet. Dineout will also be looking for a new strategic investor.
COMPANIES
Etailers want clear rules and profiteering explicitly defined before opening up accounts for GST audit
Absence of any detailed guidelines have left many companies anxious as they are still not clear about what constitutes profiteering
BUSINESS
We are looking to expand, believe in build model instead of buy: PolicyBazaar
PolicyBazaar believes in the build as opposed to buy model for expansion and plans to invest in other categories such as healthcare
BUSINESS
Staving off fund crunch, Shopclues gets fresh lease of life with $16 million funding round
According to sources, this money has come from existing investors Nexus Venture Partners and Tiger Global.
