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Oct 27, 2024 | 
economictimes.indiatimes.com | Jessica Rajan
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Oct 22, 2024 | 
economictimes.indiatimes.com | Jessica Rajan
AgenciesAvaana Capital, an early-stage investment firm that has backed startups in the consumer, food and agri sectors, has made the final close of its dedicated climate and sustainability-focused fund at $135 million. The firm which was initially targeting to raise $100-125 million had made the first close of this fund at $70 million in June last year. Through this specialised fund, Avaana Capital plans to invest in 20-25 early-stage companies.
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Oct 10, 2024 | 
economictimes.indiatimes.com | Jessica Rajan |Mannat Dora
Navbharat TimesOnline marketplaces sold goods worth $6.5 billion, or almost `55,000 crore, in one week of festive sales, marking a 26% increase from last year, with mobile phones, electronics, consumer durables, home, and general merchandise accounting for three-fourths of the total sales. Sales in the week starting September 26 made up for about 55% of the total ecommerce sales expected in the festive period this year, ecommerce consultancy Datum Intelligence said.
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Sep 18, 2024 | 
economictimes.indiatimes.com | Mannat Dora |Jessica Rajan
Ecommerce companies and online sellers are expected to ship merchandise worth $12 billion to consumers in India this festive season, up 23% compared with about $9.7 billion last year, according to data from market research firm Datum Intelligence Quick commerce may account for $1 billion of these ecommerce sales in terms of gross merchandise value (GMV), the report said.
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Sep 16, 2024 | 
economictimes.indiatimes.com | Jessica Rajan |Mannat Dora
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Sep 7, 2024 | 
economictimes.indiatimes.com | Vinod Mahanta |Jessica Rajan
Troubled edtech company Byju’s on Saturday accused MSKA & Associates of unethical practices and procedural failures, following the latter’s resignation as statutory auditor for Byju’s owner, Think & Learn, and its disclosure of a potential fraudulent transaction to the ministry of corporate affairs (MCA).In response, MSKA & Associates, an affiliate of BDO International, said its auditing had been as per applicable standards and legal requirements.
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Aug 25, 2024 | 
economictimes.indiatimes.com | Jessica Rajan |Soumyajit Saha
The demand for gig delivery riders by quick commerce platforms like Blinkit, Swiggy Instamart and Zepto may grow 40% on peak-demand days this festive season when the overall home delivery ecosystem is expected to employ 10-12 lakh additional gig riders, industry executives told ET.Ecommerce and food delivery platforms are expected to bring about 20% more gig riders on board during the peak festive period , they said.However, while quick commerce currently employs about 3-4 lakh riders, the...
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Aug 25, 2024 | 
timesascent.com | Jessica Rajan |Soumyajit Saha
The demand for gig delivery riders by quick-commerce platforms like Blinkit, Swiggy Instamart and Zepto may grow 40% on peak-demand days this festive season when the overall home delivery ecosystem is expected to employ 10-12 lakh additional gig riders, industry executives told ET.
Ecommerce and food delivery platforms are expected to bring about 20% more gig riders on board during the peak festive period, they said.
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Aug 18, 2024 | 
economictimes.indiatimes.com | Jessica Rajan |Soumyajit Saha
In a sign of quick commerce platforms increasingly operating like horizontal online marketplaces, Blinkit and Zepto are seeing much higher sales and carrying a wider assortment at the onset of the festive season with Rakshabandhan , top executives, brands and sellers told ET.Flipkart, Amazon India and others are in the middle of preparing for the upcoming festive season and quick commerce firms are bulking up for an action-packed Diwali this year, aiming to corner a greater market share.
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Jun 5, 2024 | 
economictimes.indiatimes.com | Jessica Rajan |Soumyajit Saha
Startups are adopting a new route to cut costs as they navigate a protracted funding winter. While they are continuing to lay off workers across the board, some like Swiggy and Ola group are also refilling a section of vacant positions with junior employees at lower salaries, according to industry executives and consultants.New joinees are paid on average 15-20% lesser salaries compared to those who were let go for similar roles, said Vaibhav
