One97 Communications Ltd., the owner of an Indian online payment processor backed by Alibaba Group Holding Ltd. s finance arm, said funds at its disposal were enough to last five years, enabling it to build a business model that s predictable.We have enough money in the bank to last 21 quarters if we keep spending at the same rate as last year, Vijay Shekhar Sharma, chief executive officer of One97 that owns Paytm, said in an interview to Bloomberg TV in Hong Kong.One97, which was founded in 2000 by Sharma, doesn t plan to sell shares in an initial public offering for at least three years, Sharma said.The company has received funding from Intel Capital, private-equity firm SAIF Partners and Fitbit Inc.-backer Sapphire Ventures LLC.A Morgan Stanley fund marked down the value of its investment in Flipkart by more than 25 percent, paring the valuation to $11 billion in less than a year from as high as $15 billion.India s only food-tech unicorn, Gurgaon-based Zomato Media Pvt., saw its billion-dollar valuation slashed in half this month by analysts at HSBC Securities and Capital Markets India .Paytm started as a provider of value-added-services for mobile phones and later evolved into a marketing platform for consumer brands to reach customers via text messages and voice calls.The payment-processing system Paytm is the public face of One97.Its businesses include mobile-recharge services and an e-commerce platform where consumers can find goods including clothing and cameras.
View photosMoreHttps%3a%2f%2fblueprint-api-production.s3.amazonaws.com%2fuploads%2fcard%2fimage%2f97299%2frobin-handThe San Francisco startup is launching its cloud-based smartphone, the Robin, in the country for the highly competitive price of $297 Rs 19,999 — nearly $100 lower than its original launch price of $399 Rs 26,900 in the U.S.SEE ALSO: Running out of storage is a thing of the past with the Nextbit Robin phoneIf you missed Robin's release earlier this year, here's a refresher: Boasting good specs and a refreshing teal-colored plastic design, the phone's main feature is its innovative integration of cloud storage.At the launch event in Delhi, Nextbit CEO Tom Moss stressed India's importance as the second-largest smartphone market in the world and on ensuring that the phone was good value for the money — an important consideration for the country's price-sensitive consumers.As such, Nexbit's initial focus will be on tech enthusiasts, but for long-term viability, its bigger challenge will be appealing to the mass market.The Robin is powered by Marshmallow 6.0, and is close to stock Android, but Moss argues that its intuitive understanding of which apps people use the most and the least will give it an edge over other smartphones in India's Android-dominated market.The Nextbit Robin boasts an unusual teal-colored design, but its real differentiator is how it deals with storage: When it runs out of local space, it automatically and intelligently backs up data and apps to 100GB of cloud storage, which is included in the purchase price."Most of the world is really saturated in terms of growth and India is really the engine that's driving the growth in smartphones for the whole world today," Moss said.
Xiaomi flagship Mi 5, and Redmi series flag bearer, the Redmi Note 3 are now available in India registration-free.Both, the Mi 5 and the Redmi Note 3 were announced in India in May – last and first week, respectively.While the Mi 5 goes for 24,999 INR $372 , the Redmi Note 3 costs 9,999 INR/11,999 INR $150/$180 to procure.Both devices have, since their launch, been available only in flash sales.During the current open sale, the Mi 5 will be available via Mi.com, while the more affordable Redmi Note 3 will be available via Mi.com, Amazon, Flipkart, and Snapdeal.Xiaomi mention that the devices will be available on open sale no registration for as long as stocks last.If you re contemplating buying either one of the phones, feel free to read our reviews of the Mi 5 and the Redmi Note 3 2GB 3GB .Bear in mind though that the versions we tested were the Helio X10 powered ones; we have a SD650 variant in transit as we speak.
A company spokeswoman would not however provide details on how the company plans to spend the money in the country.Amazon is up against established online retail startups such as Flipkart and Snapdeal, which have proven to be quick to adapt to Indian conditions and consumer demands, and have also been able to raise cash so far to compete with Amazon in a market where heavy discounting is prevalent.It ran a program called Amazon Chai Cart that used three-wheeled mobile carts to do the rounds of the business districts of cities, serve tea, water and lemon juice to small business owners and teach them about selling online.In a period of four months, the team traveled 15,280 km across 31 cities, served 37,200 cups of tea and engaged with over 10,000 sellers, Bezos said in a letter to shareholders in April.So was born Amazon Tatkal, a program offering launch services such as registration, imaging and cataloguing services, as well as basic seller training, to get small businesses online in less than an hour.The company, which launched its marketplace three years ago in India, now claims to sell over 55 million products from 85,000 sellers, the majority of whom are traditional Indian retailers.
Amazon plans to put $3 billion more into its Indian e-commerce site, said founder and CEO Jeff Bezos.According to CrunchBase, Flipkart has raised $3.15 billion so far from investors including Naspers, Tiger Global, DST Global, and Accel; Snapdeal has received about $1.54 billion from backers such as Chinese e-commerce giant Alibaba, SoftBank, and eBay.A February report by Morgan Stanley said that Flipkart was the leader by gross merchandise volume GMV , with 45 percent market share in 2015.At the end of last year, comScore released data showing that Amazon India had more than 30 million unique visitors to its site during Diwali holiday sales in October, which Bezos said made it the most visited e-commerce site in India.But Flipkart is now facing questions about its GMV growth and ability to continue competing with Amazon India.For example, all three have invested huge amounts of money in logistics, a weak point in India s commercial infrastructure, and also have to balance tight margins with offering competitive prices.
Russian billionaire Alisher Usmanov is sticking with Alibaba Group Holding Ltd. after having already made a six-fold return on his investment in the Chinese e-commerce operator.We re staying invested in Alibaba and believe its market value may rise further," Ivan Streshinskiy, chief executive officer of USM Advisors, which manages Usmanov s assets, said in an interview in St. Petersburg.The company s growth strategy is sustainable -- it s expanding into new areas including payment technology."Usmanov, whose first big tech investment was a stake in Facebook Inc., in recent years has invested in India s largest online retailer, Flipkart, Chinese smartphone producer Xiaomi Corp. and regional Uber clones -- Ola Cabs in India and Didi in China.Usmanov bought a stake in Facebook in 2009 with Russian tech guru Yuri Milner, when the company s valuation was about $10 billion, before rising to $100 billion in its 2012 IPO and $327 billion now.USM also invested in Alibaba in 2011 when it was valued at less than $35 billion versus its current market value of $195 billion.In North America, it only makes sense to buy into tech assets at a very early stage, Streshinskiy said.
India has about 100 million online shoppers.The U.S. by comparison, has roughly 205 million online shoppers, even though the U.S. population is less than 25 percent of India s. The Indian ecommerce market, in other words, will almost certainly grow dramatically in the coming years.In this example from Snapdeal, Puma shoes are offered at a 46 percent discount.Desktops and laptops are, relatively, much more expensive.The second reason is the cheap mobile data plans that cost a fraction of U.S. plans.Third is the convenience of being able to shop anywhere and at any time using the mobile device.
Online education company Udacity has partnered with Google to introduce a new course covering the basics of Android programming.The aptly titled Android Basics Nanodegree is aimed at those with little or no programming experience and provides entry points into Java, web APIs, using a SQLite database, and more.The Android Basics Nanodegree will cost $199 per month and features courses built by Google experts who also offer mentorship and coaching.Founded in 2011, Udacity is one of a number of companies offering massive open online courses MOOCs — courses open to an unlimited number of people on the web.It s big business, too, which is why Udacity alone has managed to raise more than $160 million in VC funding to date, including a chunky $105 million round it closed seven months back.Udacity is no stranger to partnering with tech companies.It has offered courses in conjunction with Google for a number of years already, covering the likes of Android fundamentals, cloud fundamentals, UX fundamentals, and web performance.The duo also teamed up to offer a tech entrepreneur nanodegree last year, which was swiftly followed by a new deep learning course.Elsewhere, the likes of GitHub and Flipkart have also turned to the online learning platform to offer courses.By way of encouraging early sign-ups for the new Android Basics Nanodegree, Google is also promising to give the first 50 graduates scholarships to enroll in the more advanced Android Developer Nanodegree program.
Flipkart chief technical officer Peeyush Ranjan doesn t believe Alexa, the voice-assistant that powers Amazon s Echo devices, as it is will work in India, the executive said on stage at VentureBeat s MobileBeat conference.The problems that we see over here in the U.S. are not what we see in India, said Ranjan.The real challenge we re going to have to solve is bigger than Alexa.India s ecommerce market is expected to be worth nearly $120 billion in 2020, according to Morgan Stanley, however companies like Flipkart and Amazon face significant obstacles in the country, including the wide variety of spoken languages, power outages, connectivity issues, and lacking delivery infrastructure, said Ranjan.To start from the basic premise, if you think of ecommerce, there s a fundamental belief at Flipcart that the way natural commerce happens is the way ecommerce will go.That includes visual elements and sentiment analysis, said Ranjan, in addition to the voice-based commands Alexa enables.
Yet homegrown Flipkart Ltd. has managed the impossible with a blend of Silicon Valley smarts—its founders worked for Amazon.com Inc.; key hires were lured from the Bay Area—and a canny understanding of local verities.In Mumbai, it deployed dabbawallas, the famed lunch delivery corps, to get packages to customers.Since its founding eight years ago, Flipkart has become the nation s most valuable startup and introduced online shopping to the Indian masses.Still, no one is celebrating at the company s headquarters in suburban Bangalore.Last month, Amazon Chief Executive Officer Jeff Bezos pledged to invest another $3 billion in his company's Indian operations, bringing the total to $5 billion.If any of this fazes Flipkart CEO Binny Bansal, 33, he isn t letting on.During a rare interview, in the Steve Jobs conference room, complete with a large color photo of the late Apple founder, Bansal was uncharacteristically blunt.Flipkart, he said, has battled competition since its 2007 founding: First it was local, now it is global.
Finally, Rocket Internet has managed to sell Jabong, its fashion e-commerce site in India, after more than a year of speculation.The deal is all in cash but it is not completed yet, it is expected to close within Q3 2016.Flipkart CEO Binny Bansal and executive chairman Sachin Bansal both confirmed the deal on Twitter, with Sachin keen to make history with Jabong.Global Fashion Group GFG , the umbrella company that runs Rocket Internet s fashion-focused e-commerce businesses worldwide, explained in an announcement that it spent months deliberating on which suitor to sell the Jabong business to:Following a strategic review of its Indian operation, the GFG Board concluded that Jabong s position as India s leading fashion e-commerce destination would be best served through a business combination with a local player.Having reviewed multiple options over a period of several months, the GFG Board has resolved to sell Jabong to Flipkart Group.
Kinnevik board member and past president Cristina Stenbeck. Global Fashion Group GFG, Kinnevik is a part owner of, is now selling its Indian e-commerce Jabong to the domestic group Flipkart Group for 595 million crowns. The sale comes as no surprise since the GFG have been looking for a potential buyer for the Indian fashion company for a long time. Also read: Indian Furniture fiasco weigh Rocket Internet The reason for the sale is reported to be the GFG want to concentrate on their other businesses and believes that Jabong will do better with a local owner, said Lorenzo Grabau, chairman of the GFG and CEO of Kinnevik, in a message: We are grateful to the team at Jabong for the great work carried out in recent years by building such an attractive e-commerce company in fashion.
Today seems to be a day of e-commerce inevitabilities in India.Alongside news of Rocket Internet-backed Jabong s sale comes the launch of Amazon Prime in the country.The service costs 499 INR around $7.50 per year, although that introductory price will later rise to 999 INR $14.80 , for which customers get free one- and two-day delivery for products to over 100 cities, discounted same-day delivery in top-tier cities like Delhi, Mumbai, Bangalore, and Hyderabad, and early access to selected deals.Amazon s Prime video service is missing from the list at this point, but media reports indicated that it will come soon.Factor Daily reported earlier this month that Amazon is sinking as much as $300 million into securing and developing original content in India for Prime customers ahead of a launch later this year.That sum is reportedly coming from the $3 billion that Amazon this summer committed to pumping into its India-based business as it continues to battle with homegrown e-commerce rivals Flipkart and Snapdeal.
Global Fashion Group, where Swedish Kinnevik is a major shareholder, sold the Indian fashion site Jabong 600 million. Global Fashion Group GFG checked by Cristina Stenbeck investment company Kinnevik and German Rocket Internet. Among the sites of GFG's portfolio includes a range of e-retailers in emerging markets, including Latin American Dafiti, Asian Zalora - and Indian Jabong. Now it is clear that the company selling fashion site Jabong to Flipkart Group, the Indian e-commerce giant Flipkart. According to a press release from GFG pay Flipkart $ 70 million, equivalent to SEK 605 million for the site. GFG writes that the sale is part of its strategy to refocus the business on its core markets and accelerate toward profitability.
Image caption Indian actress Kangana Ranaut showcasing a Jabong dress at the Lakme Fashion WeekMyntra, a subsidiary of Indian online shopping giant Flipkart, says it has bought rival fashion shopping site Jabong.Once a big player in India's online retailing industry, Jabong has fallen on hard times in the past year amid poor sales and management shake-ups.India's e-commerce industry has a high profile and rapid customer growth but the sector continues to make losses.The sector is marked by tough competition - only last month, industry pioneer Amazon announced it would step up investment in the country.Simon Atkinson, India Business Editor, Mumbai
View photosMoreThe logo of India's largest online marketplace Flipkart is seen on a building in Bengaluru, India, April 22, 2015.MUMBAI Reuters - India's biggest e-commerce firm Flipkart is buying domestic online fashion retailer Jabong from Global Fashion Group for $70 million in cash, the latest consolidation move in the country's e-commerce sector as competition intensifies.Flipkart unit Myntra, India's largest online fashion retailer which is buying Jabong, said on Tuesday the two sites will have a combined base of 15 million monthly active users.Global Fashion Group is backed by Germany's Rocket Internet and Sweden's Kinnevik .Niche e-commerce players in India are facing greater competition from both domestic rivals and the likes of Amazon.com Inc , at a time when industry valuations have begun to cool.Rocket Internet had flagged earlier this year that business was tough in India, warranting more investment by Global Fashion Group.
View photosMoreSecurity guards stand at the reception desk of the Amazon India office in Bengaluru, India, August 14, 2015. Reuters - Amazon.com launched its popular Prime loyalty program in India on Tuesday, three years after its entry into the world's second-most populous country.The world's biggest online retailer has been pumping billions of dollars into India as it seeks to win a bigger share of a market dominated by homegrown e-retailer Flipkart.Prime members will get free one-day or two-day delivery service with no limit on order size, and early access to some deals.Prime membership will cost 499 Indian rupees $7.41 per year, rivaling Flipkart's own offering Flipkart First, which is priced at 500 Indian rupees per year.Amazon said it was offering users a free trial period of 60 days for the Prime service.
Amazon.com Inc. is showing investors it can be consistently profitable while making big investments to challenge competitors in the U.S. and expand around the globe.The Seattle-based company reported second-quarter earnings that topped analysts estimates, while spending on quicker delivery to keep ahead of Wal-Mart Stores Inc. and other brick-and-mortar retailers, expanding its entertainment offerings to challenge video-streaming rival Netflix Inc. and pouring money into India to take on e-commerce competitor Flipkart Ltd.It s a new chapter for Amazon, which has previously entered money-losing cycles with big investments in pursuit of growth.The company Thursday reported its fifth-straight profitable quarter while operating expenses rose 28 percent to $29.1 billion.They are really putting the narrative that this company can t be profitable to rest, said RJ Hottovy, an equity analyst at Morningstar Inc.Amazon Web Services, the company s fast-growing and profitable cloud-computing division, provides a lot of wiggle room in other areas of the business.The unit delivered operating income of $718 million -- 56 percent of Amazon s total -- though it accounted for only 9.5 percent of revenue.The extra cushion enables Amazon to increase spending elsewhere without losing money.The company will have opened 21 new fulfillment centers this year by the end of the third quarter.That s more than double the 10 it opened in the first nine months of 2015, Chief Financial Officer Brian Olsavsky said.Strong demand during last year s holiday season drove up costs for Amazon as its delivery operations were stretched to the max.
Six months after launching AMP for news stories in its mobile search results, Google today announced the next step for the project: moving AMP beyond news and bringing it to other mobile sites, too.Just like with the rollout of AMP pages for news sites, Google is launching a demo site today that will allow you to test what this experience is like and give developers the opportunity to fine-tune AMP support for their sites before it rolls this feature out to all users.Rudy Galfi, a product manager on the AMP team, told me that the team believes that after the successful rollout of AMP for news sites, it is now ready for more.There are already over 150 million AMP documents from over 650,000 domains in Google s index and as Galfi told me, the company has seen a lot of non-news sites adopt the format, too, even though these pages weren t easily available to users yet.Back in June, Google partnered with eBay to bring AMP support to that company s mobile pages, but the new demo site features AMP pages from the likes of Squarespace, Reddit, Flipkart, TripAdvisor, Disney, Genius, Food Network, Instructables, Drugs.com, the NFL and others.So if you search for card tricks on the demo site, for example, you will probably see a few instant-loading results from Instructables with the standard AMP lightning bolt symbol next to them.
Read on to find out the easiest example of understanding growth hacking concept.You ve executed it by deploying the best possible actions – incorporating responsive designs, attractive graphics, delivery schedule but it turns out that the customer did not open the sent email.For a start-up, it is essential to achieve product traction.So here we discuss how growth hacking strategy is an essential plan of the Indian e-commerce companies and how they are using it in the form of five cycles –Acquiring, Activate, Retention, Revenue and Referral.How can Flipkart/Snapdeal enhance its user experience during the purchase journeyAs I spent hours on Google the other day to decide upon a blood pressure monitor of a specific brand, the organic results revealed from these three foremost e-com sites – Amazon, Snapdeal and Flipkart showed marked difference and harsh realities of the organization s growth strategy business plan.The results have been tabulated making them easy to understand.