Online Business - News, Interviews, Articles, Opinion, Reviews.
Seedfund Advisors, an early-stage venture capital fund started in 2006 by Pravin Gandhi, Bharti Jacob and Mahesh Murthy, has picked up a significant minority stake in Innoz, a provider of mobile search engine services. Speaking with Iamwire about their partnership with Seedfund, Deepak Ravindran, Co-founder & CEO of Innoz, said “We’re happy to partner with Seedfund and benefit from their mentoring and guidance.” While neither companies have disclosed the amount of funding, … [Read more...]
Giftcardsindia.in, an online portal dedicated to selling gift cards online, has reported the completion of its first year of operations. The company, which has gifting options of over 160 brands, has reported over $1 million in sales with over 60K cards sold. Speaking on the completion of operations of the first year, Cory York, Co-founder and CEO, GiftcardsIndia, said, “We had a huge demand from our 160 brand network to move from paper to plastic & digital gift cards.” The … [Read more...]
As per a recent report by ASSOCHAM, the consumer electronics and durables sector in India is expected to grow at a CAGR of about 15 per cent and grow from Rs.34,000 crores to reach Rs 52,000 crore by 2015 fuelled by rising demand from the Indian middle class as well as growing sales through the online retail format. The study titled ‘Emerging trends in Consumer Electronics and Durables Industry,’ has been released by The Associated Chamber of Commerce and Industry of India (ASSOCHAM) … [Read more...]
Yammy Apparels India (P) Ltd, a Tamil Nadu based company has launched www.inkyponky.com, an e-tailer of branded kids apparel. InkyPonky aims to become a one-stop site for leading kids wear brand in India and since its launch in mid-April, has experienced over 2000 visitors and done brisk business. The company is also among the first to have a video-catalogue for all its products which provides a better feel to the customer about the product quality and look. The founders opted for using a … [Read more...]
The Bombay Store was started as the Bombay Swadeshi Co-operative Store in 1906 by Lokmanya Tilak and Mummohandas Ramji with Ratanji Jamshedji Tata as one of its founding directors. The company has evolved with time and has now embraced the online retail format and become a multichannel retailer with a clear focus on building a scalable and profitable business. The company has steadily grown its online format and expects its share in total sales to rise to over 15% in the next 3-4 years on the … [Read more...]
In a move that signals the sign of things to come, Chennai-based jewels and gems e-tailer, CaratLane.com opened its first ‘Solitaire Experience Lounge’, in New Delhi. This is among the first such initiative in the Indian e-commerce landscape and helps customers to get a first-hand feel of the Carat Lane brand, speak to diamond consultants, try on samples of the jewellery and experience the online buying process. The store was inaugurated by beauty queen and Bollywood actress, Amy Jackson. … [Read more...]
With the rise of the online retail industry in India, the demand for packaging solutions has been on the rise. Keeping in view the need for such services, we interacted with Gaurav Vora, Director of Baroda-based Dynaflex, provider of packaging solutions to the online retail industry. Dynaflex has been providing services to governments in India and abroad in the form of security envelopes and other solutions for many years and as a result, found itself in the right position to service the online … [Read more...]
India has for long been known as a key sourcing hub for highly skilled and talented workforce, especially in the area of technology. Taking this forward, Tesco, the world’s third largest retailer, with a presence across 13 countries and revenues in excess of USD 100 billion has been operating its global service centre from Bangalore. Known as Tesco HSC (Hindustan Service Centre), it started operations in May 2004 and at last count, employs more than 6000 people and provides key business … [Read more...]
Croma, the Electronics Megastore of the Tata Group, has launched its online store, www.cromaretail.com, with many features and functionalities. Launched in Mumbai in October 2006, Croma is part of Infiniti Retail Ltd., a 100% subsidiary of Tata Sons. The company has a large offline presence across the country and operates over 70 stores with revenues in excess of Rs. 1,500 Crores in 2011. Infiniti Retail has a sourcing agreement with the Australian retail giant, Woolworths, under which, … [Read more...]
ExamsGuru, an entity of Bangalore based Padma Infocom Pvt. Ltd. has raised INR 15 lakh capital in angel funding from Simarjeet Singh Khera from GuruKul Online Learning Solutions. The company which started off with funds from friends and family, is now looking for Series A VC funding (between $1-2.5 Million) to further boost its capabilities. The portal was founded in December 2009 by Rahul Jain, Vikas Jain and Prateek Bhowmick as a one-stop solution for technology enabled training. Rahul … [Read more...]
Online wedding planning portal Myshaadi.com raised an undisclosed amount of funding from Indian Angel Network (IAN). Four investors from the consortium concluded the deal - Rajan Anandan, Sunil Kalra, Ashim Mehra and Rehan Yar Khan, who will also join the board of directors at Myshaadi.in. Abhishek Jain, an NIT Jaipur graduate and founder of the website said, “The fund will help us to strengthen operation and further improve our suite of services”. Jain had launched the portal in … [Read more...]
Proptiger.com, an online real estate marketing services firm, has raised $5M or INR 26 Crores in its second round of funding from PE firms SAIF partners and Accel. The first round of funding was concluded by a few individual investors last year. As part of the current deal, Ravi Adusumalli from SAIF Partners and Prashanth Prakash from Accel have joined as members of PropTiger’s Board of Directors. Speaking on the occasion, Ravi Adusumalli member of the board from SAIF said, “India is in … [Read more...]
According to the latest research by Forrester, a leading global research and advisory firm, the e-commerce market in India is set to grow the fastest within the Asia-Pacific Region at a CAGR of over 57% between 2012-16. The report, titled “Asia Pacific Online Retail Forecast, 2011 To 2016,” has been issued by Forrester Research Inc. Analyst Zia Daniell Wigder, with Steven Noble, Vikram Sehgal and Lily Varon. The recently released report looks at growth in key e-commerce markets in the … [Read more...]
India’s first e-tail school supplies store AllSchoolStuff.com has been awarded the Best Digital Start Up of the Year at the third edition of the Indian Digital Media Awards (IDMA), 2012 organised by exchange4media Group. The objective of the Indian Digital Media Awards 2012 is to recognise, celebrate and encourage the work being done in the ever-growing advertising and marketing communications activity in the digital media space, specifically internet, mobile, gaming, social media and the … [Read more...]
The advent and acceptability of online services in India has created a huge demand and scope for cloud computing and allied services. As a result, the market has witnessed the emergence and growth of a large number of private payers who offer these services under various heads, such as SaaS (Software-as-a-Service), PaaS (Platform-as-a-Service), Cloud Computing, Web Hosting etc. The market which till recently, had been dominated and serviced by private players has now seen the launch of BSNL’s … [Read more...]
According to research, the approximate size of Indian office products market is $20 billion. As with other major retail categories, the market is largely unorganised and has huge scope for organised players. An interesting aspect from a suppliers perspective is that demand is concentrated around metros and tier 1 cities and that too in commercial/industrial pockets. This makes it easier to cover large cities and build capacity. Iamwire spoke with Deepak Batra, Director and Co-founder at … [Read more...]
Aaram Shop, an online grocery retail platform, has come out with its second State of Online Grocery Shopping (SOGS) report, which highlights consumers’ buying behaviour while purchasing groceries and daily essentials online. The report is the first in a 4-part series to be released this year by Aaram Shop. The key aspect of the report is that it is not based on a survey, but rather on actual data on shoppers’ brand purchases over 5 months, captured between October 01, 2011 till February … [Read more...]
The Viadeo Group, a social networking group for professionals has raised over $32 million in a fourth round of funding, from Government backed French Sovereign Wealth Fund and the Fonds Strategique d’Investissement (FSI), institutional shareholders IdInvest and Ventech, as well as new investors such as Jefferies, Allianz, and Middle Eastern Private Funds. The company had previously raised $5 million in 2006 with total investments of over $55 million since its launch in 2004. The Viadeo … [Read more...]
Digital Advertising is expected to reach INR 4,391 crores by March 2013. It is expected to reach INR 3,535 crores by the end of this calendar year. Currently, (March’12), the market is pegged at INR 2,851 crores. These are the major findings of the annual Digital advertising report jointly published by the Internet and Mobile Association of India (IAMAI) and IMRB. The relative share of the major segments is explained in the following chart. Source: IAMAI (Figure 1 – … [Read more...]
In a move aimed towards helping the e-commerce industry as well the retailers, the Federation of Indian Export Organisations (FIEO) - the apex body of all export promotion councils, commodity boards and export development authorities in the country, eBay India (www.ebay.in) - an eCommerce marketplace, and PayPal - a global online payments provider, today, formally announced their tie-up to promote retail exports via eCommerce from India. This strategic tie-up will stimulate the growth of Indian … [Read more...]
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