WALMART FLIPKART
At zero dark 100, Flipkart to fire up quick commerce in festive season
Flipkart is set to open 100 dark stores before the Big Billion Days sale, entering the quick commerce arena. Competition with Zepto, Blinkit, and Swiggy Instamart intensifies during the festive season. Quick commerce growth expected to drive demand with focus on fast deliveries and expanded product offerings.
Flipkart expands bill payment suite in partnership with BillDesk
Users now have access to services like Fastag and DTH recharge, landline, broadband bill payments and mobile phone bill payments on the Flipkart platform, the company said on Wednesday. Flipkart has partnered with BillDesk to bring bill payment services for its users.
Zepto a ‘hyperlocal Walmart of India’, says CEO Aadit Palicha
Zepto, a quick commerce platform in India, raised $665 million in funding, valuing the company at $3.6 billion. The CEO sees Zepto as a hyperlocal Walmart focusing on groceries and household essentials. The company plans to expand its dark stores to 700 to compete with rivals like Blinkit and Swiggy Instamart. Zepto aims to capitalize on the massive market opportunity in the top 40 cities of India.
Former SoftBank managing partner Lydia Jett joins Flipkart board
Lydia Jett previously joined Flipkart’s board as a representative of SoftBank in 2017. She had exited Flipkart’s board after stepping down as SoftBank's managing partner in February this year. Meanwhile, Flipkart has been aiming for profitability amid changes in senior management and layoffs prompted by cost-cutting earlier this year.
Over 58,000 MSMEs uplifted by Walmart Vriddhi through digital training, mentorship & business growth
Launched in 2019, Walmart's supplier development program has helped over 50,000 MSMEs get access to tools and mentorship for business growth.
Sellers on Flipkart facing issue in changing price, firm denies any intervention in pricing
The Walmart group firm, however, denied any role in influencing pricing on the platform and said that it is working with sellers to help them understand the new rate card policy.
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Video commerce offerings gain traction, Indians spent over 2 mn hours video shopping: Flipkart
Flipkart announced on Thursday that its video commerce platform has seen significant adoption, with Indian customers spending over 2 million hours on it from June 2023 to May 2024. The increase in usage highlights the growing trend of video commerce in India, driven by tech-savvy and digitally inclined consumers.
Celebrating the inspiring journeys of four small business innovators who dared to dream big
Entrepreneurs like Yashovardhan Sharma, Kanak Deka, Biju Kuriakose, and Reena Chauhan embody resilience and innovation in India's MSME landscape. Through programs like Walmart Vriddhi, these entrepreneurs thrive, preserving heritage, empowering communities, and shaping a brighter future for Indian households with unique products and sustainable practices.
MCA probe report on Byju’s; Walmart on Flipkart, PhonePe profitability
An investigation by the central government into Byju's cleared the edtech firm of financial fraud charges, according to a report by Bloomberg. The Ministry of Corporate Affairs, however, denied it on Wednesday evening. This and more in today's ETtech Top 5.
Flipkart, PhonePe on path to profitability: Walmart CFO
Walmart CFO David Rainey said ecommerce company Flipkart and PhonePe are on the path to profitability. Flipkart’s losses in the ecommerce segment have been improving, he said at an investor conference. He also said this “gives us a lot of confidence in what the overall financial profile of this business looks like a few years from now”.
Flipkart's path to profitability will decide IPO timing, says Walmart CFO
Walmart sees financial services as a growth opportunity, with PhonePe and Flipkart driving monetisation prospects. A report by Bernstein Research suggests India's ecommerce market could double by 2025.
DPIIT officials, Flipkart, toy makers to meet on Wednesday on ways to increase sourcing
Senior officials from the Commerce and Industry Ministry, Walmart group firm Flipkart, and domestic toy makers will discuss ways to enhance India's position in the global toy supply chain and increase sourcing on the e-commerce platform.
IPOs of Flipkart, PhonePe could take couple of years: Walmart executive
Walmart's Flipkart marketplace and PhonePe digital payments platform could have IPOs in the next couple of years, as stated by Walmart's executive, Dan Bartlett.
From phones to fries: Flipkart users may soon be able to order food via ONDC
Flipkart users may soon be able to order from various fast-food outlets and restaurants, such as Dominos and McDonalds, from Flipkart app. This development is noteworthy because the government started ONDC to counter the dominance of Amazon and Flipkart. Recently several top Flipkart executives met ONDC officials for the integration.
UPI transactions set new record, scale 14 billion peak in May
The Unified Payments Interface (UPI) network, operated by the National Payments Corporation of India (NPCI), has achieved a significant milestone by processing a record 14.04 billion transactions in May, surpassing the 13.3 billion transactions recorded in April. In terms of value, UPI facilitated transactions amounting to ₹20.45 lakh crore in May, compared to ₹19.64 lakh crore in April, as per the data released by NPCI on Saturday.
UPI transactions scale 14 billion peak in May
The record high transactions come after a month-on-month dip in volumes in April to 13.3 billion, with the network dropping 1% from 13.44 billion in March. In May, the average daily transaction value was Rs 65,966 crore with average daily volumes at 453 million. UPI is the fastest growing digital payments channel in the country.
Next disruption? Reliance’s JioMart to enter quick commerce space to take on Blinkit, Zepto and others
Reliance Industries, led by Mukesh Ambani, plans to enter India's quick commerce sector, aiming to compete with Blinkit, BigBasket, Instamart, and Zepto. Initially targeting 7-8 cities, JioMart aims to expand to over 1,000 cities. Unlike rivals, it will leverage Reliance Retail's network instead of dark stores. Goldman Sachs estimates the online grocery market at $11 billion, with quick commerce accounting for $5 billion, possibly affecting kirana store sales.
Google invests $350 million in Flipkart as part of nearly $1 billion funding round
Flipkart secures $1 billion funding with investments from Google and Walmart. Walmart, which holds an 85% stake, invested $600 million in the round. Valued at $35-36 billion, Flipkart plans to expand with Google's cloud collaboration.
Google’s $350-million Flipkart bet; Canva CEO interview
Ecommerce major Flipkart has closed its nearly $1-billion funding round with Google coming on board. More on this in today’s ETtech Top 5.
Anuj Rathi to take over as CEO of Flipkart-owned Cleartrip
Flipkart is seeing another set of top-deck changes, as it ropes in Anuj Rathi as the new CEO of its travel booking unit Cleartrip, while top executives Prabh Simran Singh and Sankalp Mehrotra are exiting the firm.
Amazon, Flipkart to have quick commerce play in certain categories: Delhivery CEO Sahil Barua
Quick commerce platforms like Zepto, Blinkit and Swiggy Instamart are venturing into ecommerce categories such as fashion, electronics, home appliances and luggage, and go beyond just daily essentials and groceries.
Roadblocks for q-commerce; Mizuho InCred deal
Happy Friday! As quick commerce platforms diversify, they are likely to face operational challenges. More on this in today’s ETtech Morning Dispatch.
Evaluating the right time for Flipkart IPO: Walmart International CEO
During Walmart's quarterly analyst call, chief financial officer John David Rainey said that Flipkart grew by double digits for the first quarter ended April 30.
Share of quick commerce in online FMCG sales rockets to 35% in FY24
Quick commerce drove overall ecommerce for these companies as well as the broader fast moving consumer goods (FMCG) industry, company executives said.
Amazon India gets funds; IT margins hit
Amazon has ploughed fresh funds in its Indian marketplace entity. This and more in today’s ETtech Top 5.
Amazon pumps Rs 1,660 crore into India marketplace entity
Amazon's biggest rivals in India, Flipkart and Meesho, are also raising fresh capital. Walmart-backed Flipkart received a cash infusion of about Rs 924 crore in two parts from its related entities based in Singapore in January. Meesho closed a $275 million funding round comprising a mix of primary and secondary share sales.
Exclusive: Flipkart maps India redux; talks on to shift domicile from Singapore
Flipkart aims to move domicile from Singapore to India for an IPO. Talks gain impetus for largest local consumer internet company to reverse flip to India. Walmart owns 85%.
Flipkart maps out India redux; QED’s Nigel Morris interview
Happy Monday! Ecommerce major Flipkart is in discussions to shift its domicile from Singapore to India. This scoop and more in today’s ETtech Morning Dispatch.
Platforms see scorching summer sending ecommerce sales soaring
Early summer heatwave boosts online demand for cooling products, driving significant growth in ecommerce sales. The surge in appliance sales leads to concerns of supply shortage. Offline markets also witness substantial growth in cooling-related appliance sales.
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