Ecommerce

India: Myntra co-founder Ashutosh Lawania quits

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Online fashion retailer Myntra on Thursday named marketing chief Gunjan Soni the new head of Jabong, a rival it bought last July, and said its co-founder Ashutosh Lawania has quit to start a new venture. The Flipkart-owned company is in the process reshuffling its top deck following the departure of… Read more »

Photo: Bloomberg
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Delivery Hero acquires Rocket Internet-backed Foodpanda

Delivery Hero Holding GmbH on Friday announced the acquisition of Rocket Internet SE-backed Emerging Markets Online Food Delivery Holding S.à r.l, which owns food delivery startup Foodpanda and the deal brings together two of the largest players in the food delivery space. The acquisition will increase Berlin-based Rocket Internet’s stake in… Read more »

Flipkart CEO Binny Bansal. Photo: Hemant Mishra/Mint
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A farmer plants rice seedlings in a paddy field on the outskirts of Yangon. Reuters
Indonesia: President Joko Widodo launches online marketplace for farmers

Indonesian President Joko Widodo has launched an online marketing system (e-commerce) for agricultural products, in an effort to cut the long distribution chains from farmers to consumers. The agricultural e-commerce is part of the ‘Synergized-Actions for the People Economy’, a program that synergizes three ministries – the Communication and Information… Read more »

Alibaba Executive Chairman Jack Ma attends the opening ceremony of the second annual World Internet Conference in Wuzhen town of Jiaxing, Zhejiang province, China, December 16, 2015. REUTERS/Aly Song/Files
Photo: Hemant Mishra/Mint
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Arrangement of various world currencies including Chinese Yuan, US Dollar, Euro, British Pound, pictured in Warsaw
Tencent invests in Chinese nip-tuck app SoYoung in $50m round

SoYoung Technology (Beijing) Co., the developer of the application, has attracted Tencent Holdings Ltd. in a financing round of $50 million. The funds will be used to develop cloud computing technology as the app considers loan-financing to help younger people get surgery.