Post the latest fundraising round, the company is expected to achieve $2.7 billion (Rs 270 crore) in valuation
The slugfest of discounts is offering a wide range of deals to lure new and existing consumers. While Flipkart is hoping to win the battle with affordability factor, Amazon is betting it all on curtain-raiser deals.
Foreign entities, desirous of operating as OPGSP, will have to open a liaison office in India with the approval of the Reserve Bank before operationalising the arrangement with any bank.
The company had posted a standalone net profit of Rs 61.11 crore in the April-June quarter last fiscal. Net sales during the quarter under review stood at Rs 341.53 crore, while in the same quarter last fiscal it was Rs 314.79 crore, the company said in a BSE filing.
The marketplace model of e-tailing will gain prominence as it is scalable and requires less capital and time than other models.
You may have bought phones, clothes, or even furniture online, but now get ready to think e-commerce on an even more closer and frequent basis.