Such startups, which are the backbone of e-commerce companies, managed to raise USD 124.61 million in 2016, significantly lower than the USD 385 million they had raised in 2015.
A reduced withholding tax rate on fees for professional or technical services received by call centre businesses to 2% as against earlier rate of 10% would mean cash flow relief for companies in the call centre business in India.
E-commerce major Flipkart is putting in place a strategy to scale up a low-cost delivery model, which it piloted in a few cities in 2016, in about 50 cities this year. The move is aimed at slashing logistics costs and reduce pressure on delivery network.
From shutdowns to hockey stick curves, 2017 is expected to be a marquee year in Indian startup ecosystem. Even as companies with high cash burn and huge losses are expected to flounder for lack of investment, those who survive the trenches will see a beautiful valley ahead.
According to experts, the private equity space was abuzz with deal activities throughout the year, both in terms of exits and investments, but the kitty was smaller in comparison to 2015. In fact, most of the IPOs in 2016 were offer for sale by PE owners, which were well received among investors.
It‘s a no brainer that people watch TV more than they shop online. Thus a Prime Video will bring an internet user on the Amazon India platform more often in a week.
Through its subsidiary Blue Dart Express, this investment will go into the expansion of its air hubs in Delhi and Mumbai which are part of its network of 13 air hubs in India, the company said in a statement.
Chief Marketplace Officer, Ranjan Kant and HR Head Deepa Chadha are exiting the company in a move that may lead to more exits from the Gurgaon-based company, after its acquisition by Flipkart.
The US-based company had last year fired over 2,400 staff across the world, of which 350 were in India.
"Currently, we have temporarily stopped cash as a payment option for new orders. Customers that had already placed cash on delivery orders before midnight 8/11 can pay for their orders using debit or credit cards or currency of valid denominations," Amazon said in a statement.
In a major fight against black money, fake currency, corruption and terror financing, Prime Minister Narendra Modi last nigh announced demonetisation of Rs 1,000 and Rs 500 notes with effect from today.
During festive sales such as Diwali, Boxing Day or Single's Day, such fake sites lure buyers to phish information from their phones or computers.
Amazon India claimed its best Diwali ever with small towns of India registering over 65 percent of its sales.
After Amazon.com‘s chief financial officer Brian Olsavsky said last week that even though the company‘s investments into its Indian arm have started to show results they hit the US parent‘s margins, Amazon India‘s chief Amit Agarwal has said that that Amazon‘s investments into India will continue as planned.
Christo Wiese is promising to open 500 of his New Look stores in just three years, catapulting the British brand into the same league in China as the world's top fashion chains - Spain's Inditex and Sweden's H&M .
The startup plans to open eight offline stores in its top cities over the next 24 months.
An increasing number of people are now turning to microblogging platform Twitter to discover Diwali deals and discounts by various brands, a trend that presents a huge opportunity for companies to interact with consumers, says a study.
Snapdeal is spending Rs 200 crore on a 360-degree campaign in the run up to the Diwali festival.
Flipkart took a jibe at Amazon by saying the numbers didn‘t come by selling memberships or small ticket items such as â€˜hing, churan or besan‘.
The number of new customers increased 5x over last Diwali with 70 percent of the customer acquisition coming in from tier II and tier III geographies.
Interestingly, the data quite well reflect the claims of the firms with regards to the number of units sold.
Total shipment in the second quarter clocked over 5.67 lakh units of which the basic wearables -- defined as wearables that can't run third party applications -- contributed nearly 94 percent, IDC said.
Annualised GMV for e-commerce companies in India fell 5-10 per cent in the second quarter of 2016 to USD 13 billion, impacted by fewer discounts by players like Flipkart and Snapdeal, research firm RedSeer said today.
Distinguished Indian e-commerce platform ShalinIndia has recently launched a twelve minute long brand movie. This extremely well-made short film has ...
The landscape of India's e-commerce industry is filled with opportunities, glory, risks and rewards. In that, it reminds us of the epic Game of Thrones TV series, where characters pit their wits, bravery and shrewdness to climb up the ladder.