Sector: Ecommerce
JioMart starts grocery ordering thru WhatsApp. Would be an interesting watch.
The move was widely anticipated after Facebook had invested $6 bn into Jio’s platform unit early last year. Key points to note – Ordering is through “tap and chat” option. Delivery is free and there’s no minimum order value. Payment can be made either via JioMart or cash on delivery. Aim is to utilise the … Read more
JioMart becoming aggressive on B2B. Disrupting the traditional distribution model.
It’s an important piece of news (Link to the original news article). As per the news article, JioMart has been increasing it’s distribution play to local retailers (also known as kirana, mom and pop stores) primarily based on the lower pricing. Given the bulk buying by Reliance, traditional distributors are unable to match the pricing … Read more
China fines tech giants for failing to report 43 old deals
China’s market regulator on Saturday said it was fining companies including Alibaba, Baidu and JD.com for failing to declare 43 deals that date as far back as 2012 to authorities, saying that they violated anti-monopoly legislation. Enterprises involved in the cases would be fined 500,000 yuan ($78,000) each, it said, the maximum under China’s 2008 … Read more
alibaba: Alibaba says profit falls 81% as China tech crackdown bites
Chinese e-commerce leader Alibaba Group said on Thursday that its profit for the most recent quarter tumbled 81 percent as a government crackdown on the country’s big tech champions bit into its bottom line. Alibaba said its profit came in at 5.37 billion yuan ($833 million) for the July-September period, falling from 28.77 billion yuan … Read more
Alibaba posted $84.5 billion in Singles’ Day sales this year. That’s a new record – but also its slowest growth ever.
Alibaba raked in a record 540.3 billion Chinese yuan ($84.54 billion) in orders over Singles’ Day. That’s a jump of 8.45% from last year’s shopping extravaganza, but the lowest growth rate in the event’s history. The moderation comes amid a slowdown in Chinese consumption as the government cracks down on everything. Alibaba raked in a … Read more
Zomato does an Info edge. Gets into start-up investing
Zomato along with it’s Q2 FY 22 results also announced that it has committed $275 mn across four start-ups in the last 6 months and will deploy another $1 billion over the next one to two years. Four investments of $275 mn – $100 mn for 9.3% stake in Grofers $50 mn in Curefit along … Read more
Beauty platform Purplle.com raises $75 mn from Kedaara, Sequoia and Blume
Purplle.com, one of India’s largest online beauty destinations, has raised $75 million funding round from investment firm Kedaara along with Sequoia Capital India and Blume Ventures. This comes six months after a $45 million funding backed by Verlinvest, Blume Ventures, JSW Ventures, and first-time investor Sequoia Capital India. The investment will augment the company’s goal … Read more