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Posts Tagged ‘ E-Commerce ’

Snapdeal continues cost cutting, disbands SD Instant team

Monday, February 13, 2017 | More »

Snapdeal's cost cutting continues, disbands SD Instant team
After reports of Snapdeal laying off nearly 30% of its staff, co-founders Kunal Bahl and Rohit Bansal have sent out an e-mail to the e-commerce firm’s employees stating that the company has to take tough decisions in order to become profitable, a report in a national daily stated. Snapdeal has...

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Forrester trims India e-tail market estimate on note ban, regulatory woes

US-based market research company Forrester Research has cut the size of India’s online retail market by 36%, saying it will touch $48 billion by 2020. Last year, the firm estimated the sector to reach $75 billion by 2020. The retail market shrunk due to demonetisation, restrictions on e-commer...

10 February, 2017 | More »

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Myntra CMO Gunjan Soni to lead Jabong

Myntra’s chief marketing officer Gunjan Soni has been appointed head of Jabong, a company statement said on Thursday. Soni is a management graduate from XLRI Jamshedpur who is credited with building ‘End of Reason Sale’, one of Myntra’s key revenue driving events. She has also worked wit...

9 February, 2017 | More »

Snapdeal to shut C2C marketplace Shopo

Snapdeal to shut C2C marketplace Shopo

E-commerce firm Snapdeal, operated by Jasper Infotech Pvt. Ltd, is shutting down its zero commission mobile-based marketplace Shopo, according to a blog post. The app and web store will not be operational after February 10. “The e-commerce market in India will continue its robust growth. However, ...

9 February, 2017 | More »

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Will Snapdeal really turn profitable in next two years?

Snapdeal co-founder Kunal Bahl has said that the e-commerce firm is looking to turn profitable in the next two years and that it doesn’t need to raise funds unless it decides to make an acquisition. “I see a relatively clear line of sight to (profit) and we’ve been making great progress in...

6 February, 2017 | More »

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Lingerie e-tailer Clovia’s net sales grow 61%, losses widen five-fold in FY16

Delhi-based Purple Panda Fashions Pvt Ltd, which runs online-first lingerie and sleepwear brand Clovia, registered a 61% increase in net sales for financial year ended March 2016 even as net losses widened five-fold. According to data sourced from the Registrar of Companies (RoC) by VCCEdge, the res...

6 February, 2017 | More »

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Flipkart may raise funds at lower valuation

E-commerce company Flipkart could be preparing to raise a new round of investment at a significantly lower valuation than its previous fundraising exercise, a media report said. Flipkart is likely to raise Rs 3,400-5,400 crore ($500-800 million) at a valuation of $10-12 billion, The Economic Times r...

30 January, 2017 | More »

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Myntra claims high revenue growth at sales event

Even as its loss continues to widen, Flipkart-owned fashion portal Myntra on Friday claimed 160% growth in revenue during its latest edition of the ‘End of Reason Sale’. This is the fifth year of the sale event by Myntra. Myntra’s acquisition of its closest rival Jabong helped the company post...

6 January, 2017 | More »

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Lenskart losses widen in FY16, revenue jumps

Lenskart Solutions Pvt. Ltd net loss for the financial year ended March 2016 widened to Rs 113 crore as the eyewear retailer spent more on advertising and promotions, a media report said on Wednesday. The company’s revenue for 2015-16 jumped 63% to Rs 99 crore, Mint reported citing documents filed...

4 January, 2017 | More »

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Flashback 2016: Challenging year for India’s unicorns

The internet and tech unicorns that sprung up in the recent years have inspired the entrepreneurial spirit among the country’s youth. They attracted billions of dollars of foreign capital and triggered the rise of hordes of startups. The good run in terms of expanding customer base, successive rou...

30 December, 2016 | More »

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