E-commerce Firms

Govt to take action against fake reviews on e-commerce platforms

Department of Consumer Affairs to hold meeting with e-commerce entities and stakeholders on Friday to discuss magnitude of fake reviews and prepare a roadmap ahead

Amazon created more than 1.16 mn jobs, digitised 4 mn MSMEs in India

The firm said it focused on creating a robust infrastructure to help Indian businesses address customers in over 200 countries and territories

E-commerce firm Amazon reports rare quarterly loss as online shopping slows

Amazon's e-commerce business also reported an operating loss of $1.57 billion in North America and $1.28 billion internationally

Amazon bets big on social commerce, acquires women-focused startup GlowRoad

The acquisition would help Amazon compete with Flipkart's Shopsy platform and social commerce firms such as Meesho, DealShare, BulBul, Mall91, and simsim.

SoftBank-backed Meesho lays off 150 employees from grocery vertical

Last week, firm said it was integrating grocery biz within the core app to offer users unified shopping while driving stronger synergies across customer acquisition, technology, product and talent

Tata's Neu: Group packs power brands in all-in-one e-commerce app

Described as a "super-app" and in the pipeline since at least mid-2020, the website called it "a unified platform that connects several brands across the Tata universe like never before"

Online D2C brands grapple with moment of truth in the valuation game

Valuation demands of around 10x of revenue had become way too common despite the fact that consumer brands are fundamentally different from tech businesses.

NIIF drops investment in TPG-backed e-commerce startup FirstCry: Report

FirstCry, formally known as BrainBees Solutions Pvt, runs an online store featuring products for children and expecting mothers

D2C business enabler Instamojo reports revenue growth from online stores

Contribution jumped from 2% to 20% in one year after the launch of the beta version, says start-up.

udaan shipped over 260 mn products across 1000 cities of Bharat in 2021

In 2021, udaan witnessed a huge surge in business across essentials category adding over 300,000 new retailers and a repeat purchase rate of over 94 per cent.

Meesho to hire over 450 people this year to scale technology team

Digital commerce platform Meesho said it aims to onboard more than 450 people this year to strengthen its technology team.

E-commerce firms ramp up operations to meet growing demand amid Covid spike

Besides growing tech and digital enhancements, these firms are ramping up hiring of more delivery partners and reinforcing existing covid protocols

Hiring by e-commerce firms set to rise 32% in 2022: TeamLease report

From a location perspective, the last quarter saw Kolkata and Gurgaon as top regions for employment in these sectors and among roles, sales and office services stood out, says report

GlobalBees enters unicorn club with $111.5 mn funding led by Premji Invest

GlobalBees was founded in May 2021 and has built a diverse portfolio of companies across categories.

Mensa Brands acquires online kidswear firm LilPicks for unknown sum

Founded in 2017, LilPicks has grown rapidly over the past four years and offers trendy, quality, designer, and affordable clothing, and accessories for children

Alibaba Group overhauls e-commerce businesses, names Toby Xu new CFO

The changes come as Alibaba faces headwinds on multiple fronts, including increased competition, a slowing economy and a regulatory crackdown

CCI won't be intimidated by the arrogance of Amazon, says Future Retail

Company says US e-com major showed disregard to Indian law by walking out of CCI proceedings

Grofers plans to open 150 more dark stores by December for quick commerce

E-commerce firm Grofers plans to open 150 dark stores by December, taking the total count to 350, for quick commerce to deliver orders in about 10 minutes, the company's co-founder said Wednesday. The company claims to have a 3 million monthly order run rate and growth of 3.5 times in the last two months while gaining one million quick commerce users. "At Grofers, we are all humbled by these stories every day, and it motivates us to do more for our country and communities. We have been able to roll out 200 stores in the last three months and are working hard with entrepreneurs like Hardik to roll out another 150 stores in the next 45 days," Grofers co-founder Albinder Dhindsa said in a blog. The company's spokesperson said that the average weekly retention in the segment is 50 per cent, which means half of the users come back next week itself to order again and consistently keep coming back. Grofers claims to have recorded a weekly ordering frequency of 4.5 orders for users who hav

Myntra announces appointment of Nandita Sinha as CEO effective Jan

Nandita Sinha has 17 years of experience in Consumer Internet and FMCG space and is currently associated with Flipkart as Vice President, Consumer Growth and Marketing

E-commerce firms like Amazon, Flipkart clock $9.2 bn in gross festive sales

2021 saw India witness its biggest ever Festive Sales with brands clocking a GMV of $9.2 bn through online channels over this period.