MakeMyTrip India, which contributes about 85% revenues of its Nasdaq-listed parent company MakeMyTrip, has posted a revenue of Rs 2,527 crore for the financial year 2016-17.
HomeLane, an online home interiors brand, has shut down the marketplace of Capricoast.com which it had acquired for `90 crore in November this year.
The valuation of homegrown e-commerce major Flipkart rose to $9.36 billion for the quarter ended September 30, 2017, as Morgan Stanley, one of its mutual fund investors, marked up the value of its holdings in the company by 24.6% to $88.1 per share.
The valuation of online classifieds portal Quikr has surged to $1 billion for the quarter ended September, according to the quarterly financial report published by its Swedish investor Kinnevik AB.
The revision in sellers’ fees has come at a time when sellers are busy preparing for the next phase of the festive season starting December.
Amazon has invested another Rs 2,900 crore ($443 million) in its India unit as part of its commitment to invest $5 billion to expand its Indian business.
Airbnb, the online global homestay and alternative accommodation aggregator, reported a 238% rise in revenues from its India operations while the net profit dropped by 35% for FY17, documents filed with the registrar of companies (ROC) showed.
Online grocery company BigBasket has secured Rs 52 crore ($8.02 million) funding from its four existing investors – UAE based Abraaj Basket, Bessemer Venture Partners along with International Finance Corp and Sands Capital, documents filed with Registrar of Companies (RoC) showed.
Bengaluru has emerged as the top city in the country to attract funding in the start-ups category followed by Delhi-NCR, Mumbai, Hyderabad and Pune for the first nine months of 2017 calendar year.
Mauritius-based online travel firm MakeMyTrip has infused about $24.6 million (Rs 160.5 crore) into its India business in the last two months, documents filed recently with Registrar of Companies (RoC) stated.
E-commerce major eBay Inc received the stake in Flipkart in exchange for its eBay India business and a $500-million cash investment. In August this year, Flipkart had successfully completed its merger transaction to make eBay.in a Flipkart group company.
As the festive season sale enters its crucial phase, Indian sellers are increasingly scouting for new customers far away from their home.
Flushed with funds, these companies will drive sales online by offering attractive offers and discounts. While Flipkart recently raised $1.4 billion from Tencent, eBay and Microsoft, it raised another $2.5 billion from Softbank.
Flipkart’s digital payment platform PhonePe has secured fresh funding of Rs 254 crore from its Singapore-based group entity Flipkart Payment, recent filings with the registrar of companies (RoC) showed.
Despite Flipkart having cash reserves of $4 billion on its balance sheet, its wholesale cash and carry arm Flipkart India has taken loan of Rs 1,000 crore from Axis Bank, documents filed with the Registrar of Companies (RoC) showed.
Mobile wallet company Mobikwik has posted a loss of Rs 109 crore for FY16, according to the firm’s latest RoC filings.
Vanguard, one of the world’s largest investment companies, has marked up the valuations of two of India’s e-commerce poster-companies, Flipkart and Ola.
Delhi, Mumbai, Hyderabad and Pune follow in that order with Chennai emerging as the sixth largest market for the food-tech industry, crossing the 10,000 deliveries a day mark for the first time.
Axis Bank has emerged as the front runner and has placed an initial bid of $20 million (Rs 128 crore), for acquiring Freecharge, the mobile wallet company owned by Snapdeal.
Amazon Data Services India is primarily into the business of offering cloud computing for data storage, protection, safety and recovery and web hosting services.
Tax disputes continue to embroil online travel portal, MakeMyTrip (MMT), with the income tax department slapping a new tax demand notice of $14 million on the company.
Despite challenging times faced by the cab leasing business, cab aggregator Ola has pumped in Rs 100 crore into its leasing subsidiary Ola Fleet Technologies, as per documents filed with the Registrar of Companies.
Alipay, China’s leading online payment platform, has entered the fray to acquire Freecharge, the mobile wallet company owned by Snapdeal.
Amazon India has got a relief from its three-year-old tax litigation with the Karnataka government.
At a time when all online marketplaces and vendors are busy liquidating their inventory before the GST rollout, online sellers are apprehensive over the treatment of a very common feature that exists in the e-commerce sector – “goods returned”.
Amazon India has asked many of its sellers to take back their inventory from warehouses by Friday, keeping in mind the onset of the GST regime.