BUSINESS
'Amazon Great Indian Festival' to begin on Oct 4
More than 78% of the surveyed Amazon sellers expect to reach out to new customers, 71% mentioned an increase in their sales and 71% mentioned a recovery in their business as their top expectations from the festive season.
BUSINESS
Exclusive: Shailaz Nag-led DotPe acquires POS startup Rista
Founded in 2015 by Srini Vasan, Rista already has over 1,200 merchants and offers them billing and inventory management solutions.
BUSINESS
E-com companies like Amazon, Flipkart to clock $4.8 billion GMV this festive sale: Redseer
Offline retail and mobility is recovering almost upto pre-COVID-19 levels.
BUSINESS
Softbank-backed OYO may file DRHP next week: Sources
In July Moneycontrol first reported that OYO was aspiring for an IPO by the end of 2021.
BUSINESS
Paid just Rs 52 crore in legal fees in FY 2020, says Amazon
Conventionally legal fees could include litigation charges, consultation fee paid to law firms which have a retainer relationship with companies, and land procurements.
BUSINESS
Wow! Momo raises $15 million from Tree Line Investment
Launched in August 2008, the QSR chain currently has 350 outlets of Wow! Momo and over 50 outlets of Wow! China. The company is planning to set up over 150 stores and 50 cloud kitchens next year.
BUSINESS
CAIT demands CBI inquiry into Amazon bribery allegation
The development comes after a media report stated that Amazon Inc had initiated an investigation into the conduct of its legal representatives in India.
BUSINESS
Not restaurants but Swiggy, Zomato to pay GST to government
The government has been working on a proposal to ask food delivery delivery apps to collect and deposit GST with the government, instead of what is currently done by the restaurants.
BUSINESS
Swiggy, Zomato may take a hit if GST council approves proposal to levy tax on deliveries
The GST Council is meeting on September 17 and is expected to take up a proposal that could make ordering from food delivery platforms expensive for customers.
BUSINESS
Zomato puts restaurant loyalty program on hold
The development comes soon after the company witnessed the sudden exit of co-founder Gaurav Gupta, who was the face of Zomato during the run-up to the initial public offering (IPO), leading discussions with the investors and the media.
BUSINESS
Shopee's entry will send shockwaves among offline traders: CAIT
The CAIT has asked Prime Minister Narendra Modi to look into the entry of Shopee stating that it will send shock waves to the offline traders' community which is yet to recover from the "unfair trade practices adopted by foreign-funded e-commerce companies".
BUSINESS
India has a very strong foundation for resale and sustainability: Poshmark
CEO Manish Chandra says Poshmark wants to invest in people, marketing and growth as opportunity scales up. The firm signed multiple offer letters on September 15, the day it launched India operations
BUSINESS
US-based Poshmark launches operations in India
Poshmark, which specialises in second-hand clothing, The company will charge a 20 percent commission on products sold above Rs 500 and a flat Rs 99 for items sold below Rs 500
BUSINESS
Gaurav Gupta's Zomato stint ends soon after IPO; here are the roles he played
As per the IPO documents, Gupta's ESOPs in the company were valued at Rs 197 crore. It wasn't immediately clear if he got to liquidate any of it in the public event.
BUSINESS
EXCLUSIVE: Snapdeal's investor looks for partial exit ahead of IPO; secondary round to fetch around $50M
The company which is targeting a $400 million IPO at a valuation of $2-2.5 billion has also appointed Bank of America besides Axis Bank and JM Financial for the public listing.
BUSINESS
Supreme Court adjourns hearing to September 24 as Siliguri hotelier says exploring settlement with Oyo
Oyo’s counsel however said there is no settlement in the pipeline
BUSINESS
Zomato's 'clean-up' drive continues as after grocery, it shuts down nutraceutical business
Nutraceuticals are defined as any food-related product which provides medical or health benefits. This could range from food to beverages or even tablets with a claim of prevention or cure of chronic diseases.
BUSINESS
Exclusive: Siliguri-based hotelier challenges NCLAT order, appeals in SC against Oyo
In an interaction with Moneycontrol, Mona Agarwalla, director of Siliguri's Central Courtyard Resort, said she was in touch with Oyo. However, so far no settlement had been made. She has claimed a settlement of Rs 37 lakh.
BUSINESS
CAIT announces campaign against foreign-funded e-commerce firms
CAIT also urged the government to implement the rules for e-commerce framed by the government equally to all e-commerce companies, whether domestic or foreign.
BUSINESS
Oyo joins hands with Microsoft to launch smart rooms for travellers
As part of this alliance, Oyo will develop smart room experiences for travellers such as customized in-room experiences. Using Microsoft’s Azure IoT.
BUSINESS
Paytm promotes founder's brother Ajay Shekhar Sharma to CBO ahead of IPO
Paytm, which is targeting an initial public offering (IPO) of Rs 16,600 crore, offers payment, commerce and cloud and financial services to 333 million consumers and over 21 million merchants.
BUSINESS
Delhivery raises $76 million from Lee Fixel's Addition ahead of IPO
Founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Kapil Bharati and Suraj Saharan, the logistics startup is planning to list on exchanges between December 2021 and March 2022.
BUSINESS
Dukaan in talks to raise around $70 million in next round, says CEO Suumit Shah
The startup, which has raised $11 million in a pre-Series A round, plans to step up hiring, technology upgrade and also expand merchant base
BUSINESS
Dukaan raises $11 million in pre-Series A round led by 640 Oxford Ventures, to raise $70Mn more
Dukaan is looking to take local retail stores online. The startup allows customers to place orders for fruits and vegetables, food and other items with merchants on its website.
