Flipkart
Retail
E-commerce companies ask to be exempted from GST
India's e-commerce companies on Tuesday met the empowered committee of state finance ministers and asked that they be kept out the ambit of the proposed Goods and Services Tax (GST). However, the state finance ministers committee did not appear to be in a mood...
Fashion & Lifestyle
Jabong’s Sanjeev Mohanty joins Levi Strauss
Jabong's former CEO & Managing Director, Sanjeev Mohanty, has joined Levi Strauss & Co. as Managing Director of the firm’s South Asia operations. He is credited with building Benetton into the largest foreign fashion brand in the country during his 11-year stint with them.
Mohanty...
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Will e-commerce companies be exempted from GST?
The rapidly expanding e-commerce companies have made a strong case for keeping them out of the proposed GST net but the state finance ministers appeared in no mood to oblige.
According to a PTI report: At the first meeting of...
Retail
Flipkart’s PhonePe launches UPI-based app
Mobile payments start-up PhonePe Internet Pvt. Ltd, owned by Flipkart, in partnership with private lender Yes Bank has recently launched unified payments interface (UPI) based payments app.
PhonePe allows users to link their bank accounts securely to their smartphone using...
Retail
Paytm to raise $300million, valuation likely to hit $5bn
One97 Communications, which runs mobile payment and e-commerce platform Paytm, is in advanced talks to raise fresh funding of about Rs 2,000 crore ($300 million) as the company gears up to launch the payments bank and aims to boost...
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Morgan Stanley slashes Flipkart valuation 3rd time in 6 months
Morgan Stanley Institutional Fund Trust, one of the mutual fund investors in Flipkart, has once again marked down its estimate of the company's valuation. The markdown has come for the third consecutive time in the past six months.
Morgan Stanley...
Retail
Amazon first in festive season discount battlefield with Onam store
With festive season around the corner, e-commerce players in India are gearing up to make most of the festivities- which kicks off in August and goes with Onam, the Malayali harvest festival, in early September, and peaks during Diwali,...
Retail
IITs name, shame start-ups for reneging on job offers; Grofers, Zomato in list
In an unprecedented move, the Indian Institutes of Technology (IITs) on Thursday released names of 31 companies they have blacklisted for allegedly going back on plum job placements they offered to students.
IITs have barred these 31 companies from participating in placement...
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Snapdeal secures Rs 140 crore from Luxembourg’s Clouse SA
Jasper Infotech Pvt. Ltd, which runs e-commerce firm Snapdeal, has reportedly received a top up of Rs 140 crore($21 million) as part of its previously announced funding round from Luxembourg-based firm Clouse SA.
In February this year, Snapdeal announced it...
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Flipkart’s Growth Capital program for sellers crosses Rs 125 crore milestone
In just a year of its launch, 'Flipkart Growth Capital' program has successfully disbursed loans amounting to over Rs 125 crore to more than 800 sellers on its platform. Flipkart has partnered with 8 financial institutions for the initiative...
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Reliance Retail Q1 profit rises 4.6 % to Rs 2,549 crore
The retail behemoth also recorded 18.87% increase in number of footfalls at its stores at 296 million in the...
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