Anirban Sen

India: Flipkart pares losses, boosts revenue at its largest unit

Flipkart managed to increase revenue and reduce losses at its largest Indian unit in 2015-16, regulatory documents sourced from data platform Tofler show. Flipkart India Pvt. Ltd, the wholesale cash-and-carry entity, posted revenue of Rs13,177 crore ($1.93 billion), up 43% from Rs9,226 crore in the previous year, the documents show…. Read more »

India: Myntra’s app-only move slowed down FY16 sales growth

Online fashion retailer Myntra, which is owned by Flipkart, reported a sharp slowdown in sales growth for the year ended March 2016, as its move to become an app-only platform alienated customers.

Indian online retail firms get a reality check in 2016

A population of more than 1.25 billion, rising mobile Internet penetration and increasing incomes are supposed to make India the last big unconquered e-commerce market in the world. But this year, the online retail market is set to show little or no growth, raising worrying questions about the potential of… Read more »

India: Infy co-founder Nilekani invests $5m more in 10i Commerce

Infosys Ltd co-founder Nandan Nilekani has invested $5 million more in Bengaluru-based e-commerce start-up 10i Commerce Services, according to regulatory documents and a person familiar with the matter. With the latest investment, the former chairman of the Unique Identification Authority of India (UIDAI) has so far invested about $10 million… Read more »

Amazon India sees FY16 loss soar to $525m

Online marketplace Amazon India’s revenue more than doubled in the 2015-16 fiscal year, but so did its loss, as the Indian unit of the Seattle-based Internet giant went all out to topple local arch-rival Flipkart from its No. 1 position. After splurging heavily on marketing, discounts and investments in technology… Read more »

Amazon to step up India investments further

Amazon India chief Amit Agarwal on Wednesday said his company was fully prepared to deal with protectionist measures if such a situation arises at all, a fortnight after the founders of homegrown unicorns Flipkart and c sought government help to take on global rivals. In an interview, Agarwal said the Seattle-based… Read more »

Amazon India top seller Cloudtail revenue rises four-fold

Cloudtail India Pvt. Ltd, a joint venture between Inc. and Infosys Ltd co-founder N.R. Narayana Murthy’s Catamaran Ventures, posted a fourfold increase in revenue in the year ended March 2016 and received fresh funds amid a market-share battle between Amazon and Flipkart. Cloudtail, the largest seller on Amazon India’s… Read more »

India 2016: Startup funding declines, but no let-up in deal volume

India’s start-up ecosystem may have seen a fall in funding this year, but there’s been almost no let-up in the number of deals, highlighting that investor appetite is still strong. Start-ups have attracted roughly $4 billion in funds so far this year, down from a heady $7.55 billion in 2015,… Read more »

India: Flipkart launches private label biz to improve profit margins

Online marketplace Flipkart has launched its first private label business under an umbrella brand called Flipkart Smart Buy, as part of a push to improve margins. Flipkart will launch a second private label brand early next year and mostly target categories such as electronics, accessories, home decor and furniture with… Read more »

India: E-commerce startups suffer even as mobile wallets gain in demonetisation drive

The withdrawal of high-value notes from circulation has had a mixed impact on the country’s online businesses. Sales at e-commerce companies, which are heavily dependent on cash payments, have suffered badly while digital payment start-ups have seen a sharp rise in daily transactions. Others such as cab hailing services have… Read more »