TECHNOLOGY
Flipkart's Hemant Badri to lead quick commerce foray, plans kirana tie-ups instead of dark stores
Unlike rivals, Flipkart will not open new dark stores for its quick commerce ambitions. It will instead partner with kirana stores to create its network, sources have told Moneycontrol
TECHNOLOGY
Small brands are left high and dry in the ‘space race’ of quick commerce
For every brand that manages to list on quick commerce platforms like Blinkit, Instamart and Zepto, there are roughly eight brands that don't make the cut. Yet, it is a high stakes game that no one can afford to lose.
TECHNOLOGY
Vijay Shekhar Sharma-backed PaiPai app was mistakenly launched, removed now
‘While we can't confirm its relaunch now, we're focused on improving our platform through experimentation and feedback,’ says Pai Pai spokesperson
TECHNOLOGY
Meesho gets investor interest for larger round size
Meesho and Accel had also engaged with each other in the past months but those talks have not fructified. This is the second instance where an early backer of Flipkart has shown interest in Meesho. Tiger Global is the other.
TECHNOLOGY
Heatwave hustle: From soda pop to AC tops, summer sales soar for e-commerce companies
People are buying air conditioners, coolers, faster fans and upgrading to more efficient ones as they look at ways to cool themselves in scorching heat.
BUSINESS
Tiger Global-backed edtech Scaler lays off 150 employees
The layoffs will impact about 10 percent of the total workforce in the marketing and sales department of the company.
TECHNOLOGY
Livspace in talks to raise $25 million from existing investor KKR
Livspace, which raised $180 million in February 2022 from KKR and other investors, was last valued at $1.2 billion. The company has however denied such talks.
TECHNOLOGY
Paytm founder Vijay Shekhar Sharma-backed Pai Platforms launches separate ONDC shopping app
While Paytm does not own any shares in Pai Platforms, the 'PaiPai' app has been developed by the fintech major's parent entity One97 Communications
TECHNOLOGY
Astrotalk set to raise $30 million in fresh round from StepStone, Elev8 Venture Partners
Noida-based Astrotalk has scaled profitably and seen strong traction from users, which explains the continued VC interest and the back-to-back funding rounds.
TECHNOLOGY
Swiggy top-level churn continues: Vice President Karan Arora quits to start up
Arora will be joining Karthik Gurumurthy, the former Swiggy Instamart head, and building Convenio
TECHNOLOGY
Top-deck churn at Marico-owned Beardo: CEO goes on sabbatical, other key executives quit
While Beardo's CEO Sujot Malhotra will be away on a year-long sabbatical. Head of Marketing and Head of Finance and Operations, have exited the company, sources told Moneycontrol.
TECHNOLOGY
GE prepares to cut 1,000 jobs in LM Wind Power, Indians could be hit as well
The cut will primarily be in global functions. The decision is in line with GE's plans to be a leaner, smaller and more profitable division in the coming months
TECHNOLOGY
Tiger Global, SoftBank set to end funding winter with $300 million round in Meesho
Meesho is in the process of flipping its base back to India from Delaware and a bulk of the fresh capital will be used to pay the relevant taxes ahead of a planned IPO, according to sources.
TECHNOLOGY
Amazon India to revise seller fee from April 7, could lead to higher prices
This move could also mean that large companies like Mamaearth, Boat and others, who get a bulk of their sales from e-commerce marketplaces like Amazon, will be subject to higher seller fee.
TECHNOLOGY
LetsTransport in talks to raise $15 million from Bertelsmann India Investments in a down round
The latest internal round will be a mix of primary capital and also include a secondary shares sale where Fosun, an early backer of LetsTransport, will dilute its stake, Moneycontrol has learnt
TECHNOLOGY
Meesho churn continues as CXO Harsh Chaudhary departs to join rival Flipkart
At Flipkart, Chaudhary is now the vice president (VP) of Customer. In his new role, he will lead customer growth which includes acquisition and retention of users.
TECHNOLOGY
Fewer but larger cheques: Early-stage investors change tack in startup deals
As VCs raise larger funds, their cheque sizes have also moved up. Micro VCs and family offices are chipping in to fill some of the gaps and in the process, some founders are losing out because not all startups are being funded anymore.
TECHNOLOGY
Investors continue to make a beeline for consumer internet start-ups
A bulk of the consumer deals was also thanks to Mamaearth’s successful initial public offering (IPO) in November, 2023. It has also become easier to launch a brand thanks to clarity around a D2C playbook and the growth of e-commerce and quick-commerce.
TECHNOLOGY
Zepto becomes first quick-commerce company to introduce platform fee of Rs 2
Zepto has become the first quick-commerce company to levy a platform fee of Rs 2. That is in addition to a late night fee. The company has also done away with free deliveries and now collects anywhere between Rs 5 and Rs 28 as delivery fee.
BUSINESS
Tata 1mg credits pricing for market share gains, says didn't go crazy like rivals during good times
Discount-centric strategies, favoured by some of the Tata 1mg’s rivals, are unsustainable in the long term, co-founder Gaurav Agarwal said
TECHNOLOGY
Meat bet: Zepto wants to eat Licious’ lunch, but can it taste success?
Started less than six months back, Relish is already clocking Rs 150 crore in annual recurring revenue. The brand can be a Rs 1,000-crore business in 18-24 months, according to the company.
TECHNOLOGY
Flipkart asks senior executives to work from office five days a week
Under the current arrangement, most of Flipkart's employees work from the office for three days and from home for two days each week.
TECHNOLOGY
From downbeat Grofers to thriving Blinkit: Inside Zomato's brahmastra
From beaten-down valuations and a rudderless path, Zomato-owned Blinkit has raced ahead in the express delivery segment.
TECHNOLOGY
Flipkart SVP Sandeep Kohli set to depart as top-level churn continues
Kohli joins a growing list of senior executives who are on their way out as Flipkart CEO Kalyan Krishnamurthy pushes for better execution with an aim to turn the e-commerce giant profitable.
