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<keyword id="1489410" type="UNKNOWN" weightage="100" keywordseo="e-commerce-in-India">E-commerce in India</keyword> is once again grabbing the headlines and this time, for all the right reasons. Bangalore-based <keyword id="319719" type="COMPANY" weightage="100" keywordseo="Myntra">Myntra</keyword>, arguably India’s largest standalone <keyword id="1127700" type="UNKNOWN" weightage="100" keywordseo="fashion-e-tailer">fashion e-tailer</keyword>, has recently closed a <keyword id="6357455" type="EVENT" weightage="100" keywordseo="Funding">funding</keyword> round worth $50 million from an investor consortium led by <keyword id="1430452" type="ORGANIZATION" weightage="100" keywordseo="PremjiInvest">PremjiInvest</keyword>, the family office of the <keyword id="10862" type="CITY" weightage="60" keywordseo="Wipro">Wipro</keyword> chairman <keyword id="6419840" type="PERSON" weightage="80" keywordseo="Azim-Premji">Azim Premji</keyword>. Myntra is also in talks with a clutch of investors to raise an additional $40 million at a higher <keyword id="51393" type="UNKNOWN" weightage="100" keywordseo="valuation">valuation</keyword>, according to an Economic Times report. So far, the <keyword id="2049121" type="UNKNOWN" weightage="100" keywordseo="E-commerce-firm">e-commerce firm</keyword> has raised $125 million in risk capital funding. Another fashion e-tailer that is also raising <keyword id="57924" type="ENTERTAINMENT" weightage="100" keywordseo="big-money">big money</keyword> is Gurgaon-based <keyword id="6388367" type="COMPANY" weightage="100" keywordseo="Jabong">Jabong</keyword>.com, which is backed by Berlin-based <keyword id="1965711" type="COMPANY" weightage="80" keywordseo="Rocket-Internet-GmbH">Rocket Internet GmbH</keyword> – a venture arm of the Samwer brothers. The e-commerce firm is reportedly raising a fresh round of equity funding worth $100 million, of which it has already received $27.5 million from the British <keyword id="2049123" type="ORGANIZATION" weightage="100" keywordseo="Development-finance-institution">development finance institution</keyword> <keyword id="1613067" type="UNKNOWN" weightage="100" keywordseo="CDC-Group-Plc">CDC Group Plc</keyword>. 
 All this is good news for the cash-strapped Indian e-commerce segment. So we have taken a close look at the recent fundraising by the <keyword id="2049116" type="UNKNOWN" weightage="100" keywordseo="Indian-e-commerce-players">Indian e-commerce players</keyword> and identified five key trends that seem to be prevailing. Will they rule the <keyword id="2049126" type="UNKNOWN" weightage="100" keywordseo="Fundraising-scenario">fundraising scenario</keyword> and determine the parameters of growth throughout 2014? Let us have a quick look. 
 
Growing big is the key priority E-commerce start-ups in India are finally coming of age and looking beyond the quickest possible exits. When Myntra closed $50 million in funding a couple of days ago, the company was immediately approached by its bigger rival <keyword id="6354742" type="COMPANY" weightage="60" keywordseo="Flipkart">Flipkart</keyword> who had reportedly come up with an acquisition offer worth $200 million. According to a TechCrunch report, e-commerce giant <keyword id="18635" type="CITY" weightage="80" keywordseo="Amazon">Amazon</keyword> had also approached Myntra but the details of the proposed deal are not yet available. 
 Although rumours were rife that Myntra could be considering either of the deals as part of a bigger strategy, the e-tailer has decided to stay off the <keyword id="1949341" type="UNKNOWN" weightage="100" keywordseo="Exit-route">exit route</keyword>. In fact, its ongoing talks for an additional round of funding worth $40 million clearly indicate that the company has in place some well-thought-out <keyword id="414633" type="UNKNOWN" weightage="100" keywordseo="growth-plans">growth plans</keyword> and big ones at that. The only other reason for back-to-back funding is to raise the valuation but at this point, Myntra doesn’t look like it is on the block. Neither has it decided to quit in a hurry like <keyword id="6359128" type="COMPANY" weightage="100" keywordseo="Redbus">redBus</keyword>.in did last year. <keyword id="2049136" type="UNKNOWN" weightage="100" keywordseo="Indias-largest-bus-ticketing-firm">India’s largest bus ticketing firm</keyword> was acquired by the <keyword id="1643008" type="UNKNOWN" weightage="100" keywordseo="Ibibo-Group">ibibo Group</keyword> for around $125 million but the sale cut short a successful <keyword id="530125" type="UNKNOWN" weightage="100" keywordseo="entrepreneurial-journey">entrepreneurial journey</keyword> that could have become a $500 million business in terms of revenue and could have achieved a $1 billion valuation. 
 As for Jabong, the very fact that it is backed by Rocket Internet may tell the industry insiders a different story. Rocket is known in the market for its fast and furious build-and-sell business module, and the start-ups are essentially replicas of successful US businesses. But the kind of funding Jabong is raising right now shows that the company is in no hurry to down the shutters in India even though two of its four co-founders have recently left the company. Jabong started its India operations in 2012 and competes with key e-com players such as Flipkart, Myntra, <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> and <keyword id="6354743" type="COMPANY" weightage="40" keywordseo="Amazon-India">Amazon India</keyword>, among others. 
 
Only <keyword id="2049143" type="UNKNOWN" weightage="100" keywordseo="Core-expertise">core expertise</keyword> matters Internet giant <keyword id="6355629" type="CITY" weightage="80" keywordseo="Google">Google</keyword> has already given us a case in point when it sold <keyword id="487941" type="ORGANIZATION" weightage="60" keywordseo="Motorola-Mobility">Motorola Mobility</keyword> to Lenovo for $2.91 billion, less than two years after paying $12.5 billion to acquire it. The deal is not a total financial loss as Google has managed to keep patents worth billions of dollars and expects to turn Lenovo into a manufacturing unit for its <keyword id="6355645" type="COMPANY" weightage="40" keywordseo="android">Android</keyword> OS. But selling <keyword id="11148" type="CITY" weightage="40" keywordseo="Motorola">Motorola</keyword> is a sure indication that Google should have focused more on its <keyword id="1430489" type="UNKNOWN" weightage="100" keywordseo="Core-Competencies">core competencies</keyword> – search, software and selling ads – instead of developing hardware. 
 You will find a similar case here as Jabong has reportedly sold its <keyword id="2049146" type="UNKNOWN" weightage="100" keywordseo="logistics-arm">logistics arm</keyword> <keyword id="2049145" type="UNKNOWN" weightage="100" keywordseo="JaVAS">JaVAS</keyword> (Jabong Value Added Services) to Gurgaon-based QuickDel Logistics as part of its business restructuring and funding exercise. Jabong <keyword id="170488" type="POSITION" weightage="40" keywordseo="co-founder">co-founder</keyword> <keyword id="536011" type="PERSON" weightage="40" keywordseo="Praveen-Sinha">Praveen Sinha</keyword> has also confirmed to the media that JaVAS is now an independent entity. 
 However, that brings us back to the basic question. Should companies try and provide end-to-end solutions to ensure a complete customer experience or should they focus on core competencies and leave the rest to the experts in those fields? We particularly raise this question as many Indian e-commerce firms are currently focusing on <keyword id="2049154" type="UNKNOWN" weightage="100" keywordseo="Proprietary-payment-gateways">proprietary payment gateways</keyword> and customised logistics services in a bid to propel their services to the next level. However, such services can actually make you lose money unless a company is catering to a customer base as vast as <keyword id="6357395" type="CITY" weightage="40" keywordseo="eBay">eBay</keyword> or Amazon. 
 After JaVAS, the writing is definitely on the wall. The bells and whistles can always come in later, but the key focus must be core competencies. Of late, even <keyword id="6354427" type="CITY" weightage="80" keywordseo="Apple">Apple</keyword> seems to be falling in this trap – its newest hardware products have ‘n’ number of <keyword id="2049161" type="UNKNOWN" weightage="100" keywordseo="Incremental-features">incremental features</keyword> but real innovations seem to be eluding the iconic company. 
 
Investors showing better <keyword id="170907" type="UNKNOWN" weightage="100" keywordseo="risk-appetite">risk appetite</keyword> India’s e-commerce market is projected to grow sevenfold to $22 billion in the next five years, and investors, both national and global, want to have a piece of the pie. According to <keyword id="1981" type="PERSON" weightage="80" keywordseo="Rahul-Khanna">Rahul Khanna</keyword>, managing director of the <keyword id="6357097" type="COMPANY" weightage="100" keywordseo="venture-capital">venture capital</keyword> firm <keyword id="218905" type="COMPANY" weightage="80" keywordseo="Canaan-Partners">Canaan Partners</keyword> (India), e-commerce players in India (and everywhere else for that matter) require very deep pockets to scale up to the level of breaking even and hitting profitability. In this space, sales margins are typically low; volume is high, and logistics &amp; back office <keyword id="6362476" type="ORGANIZATION" weightage="100" keywordseo="investments">investments</keyword> only become viable when companies are catering to a very <keyword id="2049169" type="UNKNOWN" weightage="100" keywordseo="Large-customer-base">large customer base</keyword>. Consequently, <keyword id="2049171" type="UNKNOWN" weightage="100" keywordseo="Follow-on-rounds">follow-on rounds</keyword> are extremely crucial for sustainable growth. Now that big institutional investors like PremjiInvest and UK-based development <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">finance</keyword> institution CDC Group are entering the arena, the much-needed <keyword id="2000080" type="UNKNOWN" weightage="100" keywordseo="Cash-burning">cash burning</keyword> is sure to propel growth to the desired level. 
 “E-commerce is fast maturing in India and that’s the main reason <keyword id="363248" type="ORGANIZATION" weightage="100" keywordseo="Global-Investments">global investments</keyword> are flowing in,” says another analyst. “When big players like Amazon show interest (the e-commerce giant has reportedly approached Myntra), investors are quick to sense the tremendous <keyword id="452394" type="UNKNOWN" weightage="100" keywordseo="growth-potential">growth potential</keyword> lying here,” she adds. 
 
Forget the buzz you are creating; it’s result time now Analysts, who have followed the course of events over the past few weeks, also point out another interesting trend. Be it Myntra or Jabong or other up-and-coming e-commerce businesses, it’s their <keyword id="2049173" type="UNKNOWN" weightage="100" keywordseo="Growth-quotient">growth quotient</keyword> that has attracted <keyword id="2049174" type="UNKNOWN" weightage="100" keywordseo="Big-funding">big funding</keyword>. In other words, start-ups who are delivering in a big way will get the valuable <keyword id="2049175" type="UNKNOWN" weightage="100" keywordseo="Growth-dollars">growth dollars</keyword> as investors are now looking beyond the buzz and focusing on <keyword id="1730239" type="UNKNOWN" weightage="100" keywordseo="business-fundamentals">business fundamentals</keyword> and results. 
 Companies must have the numbers – in terms of customer base, <keyword id="169826" type="UNKNOWN" weightage="100" keywordseo="growth-figures">growth figures</keyword> and brand leadership – to justify the big money they are raising. For instance, Myntra expects to more than double its <keyword id="657194" type="UNKNOWN" weightage="100" keywordseo="gross-sales">gross sales</keyword> to over $250 million by March 2015 and the fashion e-tailer’s <keyword id="2049176" type="UNKNOWN" weightage="100" keywordseo="Monthly-gross-sales">monthly gross sales</keyword> could touch $20-25 million by April this year. Myntra is expected to end the current fiscal with more than $100 million in gross sales and it is targeting $1 billion in <keyword id="6399113" type="ORGANIZATION" weightage="100" keywordseo="GMV">GMV</keyword> by 2016-2017. Flipkart, which raised $360 million last year at a valuation of about $1.6 billion, is also projecting a GMV of $1 billion by 2015. 
 Jabong, too, has aggressive growth plans and the latest round will be used to strengthen its <keyword id="2049177" type="UNKNOWN" weightage="100" keywordseo="Supply-chain-infrastructure">supply chain infrastructure</keyword> and enhance its <keyword id="2049178" type="UNKNOWN" weightage="100" keywordseo="Technology-platform">technology platform</keyword>. According to industry sources, Jabong might have generated <keyword id="2049180" type="UNKNOWN" weightage="100" keywordseo="Gross-merchandise-sales">gross merchandise sales</keyword> of $100-150 million for the fiscal 2012-13. Other key investments in the Indian e-commerce space since 2013 included online marketplace Snapdeal raising about Rs 300 crore and baby care portal <keyword id="1615917" type="COMPANY" weightage="80" keywordseo="FirstCry">Firstcry</keyword> bagging Rs 92 crore. 
 
Inventory, <keyword id="6630005" type="UNKNOWN" weightage="100" keywordseo="private-labels">private labels</keyword> are adding value 
With the lone exception of Snapdeal that runs a 100% marketplace, most of the big e-commerce entities in India are flourishing on a hybrid model – a strategic mix of inventory, private label and marketplace. In fact, Jabong has been doing all three for some time now, although a bit discreetly, and it could be now pushing hard to extract every penny from each of these categories. 
 
Myntra, on the other hand, focuses on both inventory and private label, with the share of private labels rising rapidly. A couple of years ago, the e-tailer acquired Exclusively.in Inc., the company behind the private label brand Shersingh.com and the fashion site Exclusively.in, in a cash-cum-equity deal. Myntra is reportedly eyeing more private labels to add to its portfolio as the margins are pretty high in this segment and add substantially to the profits. 
 
Bottom line: Is it a <keyword id="2049185" type="UNKNOWN" weightage="100" keywordseo="Volatile-situation">volatile situation</keyword>? In one of her latest blogs in <keyword id="6359301" type="POSITION" weightage="100" keywordseo="Entrepreneur">Entrepreneur</keyword>.com, entrepreneur-writer Erika Trautman has nicely summed it up. “No matter how great the idea, if your start-up doesn’t create hard and fast results with analytics, targeted business solutions and mobile integration, it won’t survive in 2014. Launching a start-up can’t just be about how cool your product is. No business can subsist off just buzz and Press. This year, start-ups must focus on business fundamentals and start emphasising partnerships that generate results.” 
 
Can the Indian e-commerce players innovate, scale up and deliver (as the takeaways so amply illustrate) to justify the trust investors are now putting in them? Will there be new ventures to take up the gauntlet? Let us wait and watch. 
 
Image: Thinkstock Photos/Getty Images

Indian E-com Players
Are Raising Big Money; These 5 Takeaways Can Help You Understand What’s
Changing

E-commerce companies are facing a problem when it comes to entering the Indian market. COD, or cash-on-delivery, is the preferred system of payment for Indian consumers who shop online. <a href="http://www.businessinsider.com/cash-on-delivery-remains-the-preferred-method-of-payment-in-india-2016-6">83% of Indian consumers said they prefer cash-on-delivery to credit or debit card purchases</a>. The reason why so many Indians prefer a cash-on-delivery system is due to the fact that infrastructure and delivery within the country are not exactly the most reliable and credit card systems aren’t as trustworthy as those in other countries, and in fact many Indians do not even make use of credit or debit cards at all, as <a href="https://brandalyzer.blog/2017/06/11/credit-card-penetration-in-india/">credit card penetration in the country, while rising, is still low</a>. This COD problem is one that is absolutely worth solving. The digital economy in India, including e-commerce, is expected to grow into a <a href="https://www2.deloitte.com/content/dam/Deloitte/in/Documents/technology-media-telecommunications/in-tmt-e-commerce-in-india-noexp.pdf">$1 trillion market by 2022, according to a recent joint report by the Confederation of Indian Industry and Deloitte</a>. E-commerce companies that are looking to get a slice of this pie are experiencing some growing pains. One of the biggest pains is the COD problem. <a href="http://www.livemint.com/Companies/7uHnnB7jS7aUk4i4V2adSO/Amazons-loss-jump-to-936-million-in-September-quarter-on-I.html">Amazon reported losses of $936 million dollars in September</a>, and you could attribute some of those losses to the fact that Indians prefer cash-on-delivery. But why is COD such a problem for e-commerce companies like <keyword id="18635" type="ORGANIZATION" weightage="20" keywordseo="Amazon">Amazon</keyword>? Part of the reason is restricted cash flow. It could take months for payments to reach the seller, and as <a href="http://articles.economictimes.indiatimes.com/2013-11-04/news/43658867_1_indiatimes-shopping-flipkart-courier-companies">Sachin Bansal, co-founder of Flipkart said</a>, “I would not like to have cash transactions. The non-immediacy of payments and higher returns are the problems we face with cash-on-delivery.” Not only could cash take longer to reach sellers, there remains a possibility that it might not get to them at all. While cash-on-delivery transactions cost e-commerce companies an additional 3% to process it could be more when returns are factored in. <a href="https://economictimes.indiatimes.com/industry/services/retail/cash-on-delivery-hurts-bottom-line-of-cos-like-flipkart-snapdeal-due-to-extra-associated-costs/articleshow/25192740.cms?intenttarget=no">As Ashish Jhalani of eTailing India claims</a>, “the bottom line is impacted due to such orders. This number goes up by about 30% when returns happen.” The increased losses are not only due to returns but also because companies incur courier and shipping costs regardless of whether or not the customer purchases the product. <a href="https://hackernoon.com/how-cash-on-delivery-fuelled-e-commerce-growth-in-india-8ae66bea6cfe">So while impulse purchases may increase due to the fact that payment is not due at the time of ordering</a>, returns are commonplace, and there’s no assurance that a company will receive payment. So as India enters the digital age and online retail shopping rises, how do companies get around the COD problem? <a href="http://quantifiedcommerce.com">Quantified Commerce</a>, a company focused on building e-commerce brands mainly in India has found creative and practical answers to the problem of cash-on-delivery. We spoke to <keyword id="6504806" type="PERSON" weightage="100" keywordseo="Agam-Berry">Agam Berry</keyword>, co-founder of <a href="https://www.linkedin.com/company/quantifiedcommerce/">Quantified Commerce</a> to find out what his company is doing right now to avoid the COD problem. “The best way to lower returns and shipping cost in cod orders is by having local inventory in every city,” said <keyword id="41529" type="PERSON" weightage="20" keywordseo="Berry">Berry</keyword>, “we have warehouses in four cities and have plans to add forty cities by the end of the year.” This solution not only solves the cost problem but the return problem as well, “most of the time returns happen because a customer changes their mind in the time it takes for a product to get to them, but when you have inventory in every city lowering shipping times that problem is greatly reduced,” Berry said Berry also talked about how vertical integration is part of the solution to COD, “we’re looking into purchasing our own trucks, which would allow us to move our product between warehouses faster. Trucking and logistics in India are very fragmented and it takes as much as seven days to move a product from one part of the country to another, which puts further pressure on the liquidity of the companies in this space.” The decreased delivery time would be able to loosen the restricted cash flow as an added benefit, the faster a customer gets the product into their hands the faster a company can get the cash thus helping the cash flow cycle. While India is making strides towards the use of credit and debit cards, the COD problem is still one that is relevant to companies entering the Indian market. It’s a tough problem to solve, but with companies like <a href="https://twitter.com/QuantifiedC">Quantified Commerce </a>leading the charge, the solution may come sooner than we think.

Quantified Commerce’s Agam Berry on India’s love of cash on delivery

Indian job sector is marred with the fear of layoffs because of cash crunch or increasing automation, which has resulted in a major rise in the number of resumes on hiring platforms. 
 
Applications from people from IT and <a href="http://www.businessinsider.in/Indian-e-commerce-market-is-slowing-down/articleshow/52940196.cms">e-commerce</a> industries have increased by 20-25%, as per Lohit Bhatia, business head, staffing solutions, IKYA Human Capital Solutions. 
 
"It's happening at firms where the management is either reducing workforce or rationalising the headcount to balance demand and supply," Bhatia told ET. 
 
Last year, there were about 9,200 employee layoffs, a lot more than about 5,500 in 2015, says research platform Xeler8. Major industries that saw these layoffs were food delivery, e-commerce and consumer services companies. 
 
Also read: <a href="http://www.businessinsider.in/indias-manufacturing-sales-shrink-expect-more-layoffs/articleshow/57376642.cms">India's manufacturing sales shrink. Expect more layoffs</a> 
 <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>, the e-commerce major, is also <a href="http://www.businessinsider.in/snapdeal-has-started-down-sizing-600-employees-have-already-been-fired/articleshow/57343065.cms">firing employees</a> because of cash crunch, as reported earlier. 
 
While on one side job seekers are knocking on the doors of these platforms, employers are increasingly withdrawing. Online recruitment activity in e-commerce stumbled from 3% in December 2016 to a negative 3% in January 2017, says Monster. Month-on-month, there has been a 4% decline in hiring activity. 
 
Also read: <a href="http://www.businessinsider.in/telecom-industry-is-going-to-witness-massive-layoffs-over-25000-pink-slips-loom/articleshow/57161647.cms">Telecom industry is going to witness massive layoffs; over 25,000 pink slips loom</a> 
 
A major change has come in the Indian IT sector because of automation, artificial intelligence and machine learning, and as a result, Indian techies are more and more <a href="http://www.businessinsider.in/possible-restructuring-poses-threats-to-mid-level-employees-in-indian-it-sector/articleshow/57512270.cms">worried about their jobs</a>. 
 However, things are not as bad in the e-commerce space, with <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> planning to hire 20-30% more people in 2017 compared to 2016, and Paytm founder Viay Shekhar Sharma announcing vacancies in tech and product space. 
 
(Image source: LinkedIn)

Layoffs jeopardize job security; resumes flooding hiring platforms

This is truly a country of contradictions. On one hand, you have small petty shops upgrading themselves to do roaring business. On the other, you see eCommerce spreading its wings to fly into newer horizons. Yes, the malls are booming in some cities, while falling flat on their face in a few towns. <keyword id="34412" type="ORGANIZATION" weightage="20" keywordseo="economy">Economy</keyword> is as vibrant as India’s festivals. And, eCommerce only provides testimony to this factor. 
 
Indians are busy breathing life into the eCommerce ventures in their country, encouraging the growth of new economy that’s powered by the Internet. These days, Indians prefer Internet for shopping clothes, gifts or furniture; but also to procure simpler things such as groceries. 
Whether it is the increased penetration of the Internet, or the efficient supply chain management followed by eCommerce companies, more and more people have been switching over to Internet than going to the nearby grocer’s shop. 
 This observation was made by US Department of Agriculture (<keyword id="134457" type="ORGANIZATION" weightage="20" keywordseo="USDA">USDA</keyword>), which said India was among the fastest growing eCommerce countries in the domestic market. The number of online food and grocery retail outlets had increased from 14 in the year 2013 to 44 in 2014, with few months to go till the end of the year. 
 
Online retailers are truly competing with kiryana stores and small supermarket setups to provide quick home delivery facilities, along with credit to neighbourhood consumers. These are a few aspects that had held the bond of kiryana stores and consumers who would buy groceries from them since generations. However, there is something that the online stores will have to take a leaf out of the book of kiryana store owners – that is to set up a fool-proof credit system, and also to overcome delivery challenges. 
 
The growth has a particular pattern and age group too. Mostly the young professionals who are pressed for time are the ones who are availing this facility, helping the segment grow manifold. Understandably so, the growth of this segment is high in cities such as Delhi, Bangalore, Mumbai, Hyderabad, Pune, Kolkata, Chandigarh, Trivandrum, Coimbatore and others where the floating population is high. 
 
Earlier when the idea of eCommerce was being discussed, prompting people to think about the days when they could literally buy everything over the net, the major contemplation in India was about the ‘touch and feel’ practice that was hard to change in an Indian consumer. 
 
But, clearly as things are going, the typical Indian consumer has also changed his preferences over the years when eCommerce gained ground. Today, USDA has noted that the Indian buyer doesn’t necessarily have to ‘inspect’ the things that he/she is buying. The bias of having to ‘see’ before buying as slowly replaced into faith on the automated purchases made through the Internet. Owing to measures such as cash on delivery and cash back policies – though the latter is still a hassle in some companies – Indian consumer is propelling the market in a new direction. 
 
The number of online retail store is expected to rise in the future owing to the increased user base of smartphones and mobiles. Last year alone saw the number of internet users accessing it through phone jumped from 120 million to 213 million. 'Shopping on the go' is no longer a strange experience. 
 
While one may well count on wide range of selection of goods, and convenient options such as cash on delivery and credit card payments as drivers of this new trend, the factor of changing urban landscape also needs to be taken into account. 
 
Increased chaos in urban spaces, crowded shopping areas, shortage of parking space and doing groceries demanding lots of time commitment – all have equally contributed to the growth of this sector. It remains to be seen whether this growth would sustain in the future or wither away with time. 
 
Image: Indiatimes

Indian Cities Taking Cyber-Highway For Grocery Shopping

\ 
 E-commerce major <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> will shell out an average pay hike of 12-15 percent as it looks to assure employees amid the online marketplace scouting for a potential buyer. 
 
According to sources, the pay revision will be effective from April 1 and will see salaries of employees at the mid and junior-level go up by an average 12-15 percent. 
 
For senior management, the hike will be 9-12 percent, but the company may offer 20-25 percent raise to exceptional performers, they added. 
 
The cash-strapped company is also believed to be distributing nearly 1 percent of its stock to about 150 employees. 
 
Earlier this year, the company's founders had admitted having made mistakes and said they would take a "100 percent cut" in their own salaries. 
 The decision to give such a good pay hike has been taken at a time when Snapdeal's largest investor <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> is believed to be working towards a sale of the e-commerce platform and a final decision is likely to be made in the next few weeks. 
 The top contender in the race is <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, which has recently received a funding of USD 1.4 billion. 
 Softbank is also in talks with <keyword id="4386851" type="UNKNOWN" weightage="20" keywordseo="kalaari-capital-and-nexus-venture-partners">Kalaari Capital and Nexus Venture Partners</keyword>, who have representation on the board of Snapdeal, to reach a consensus on valuation, sources said. 
 Snapdeal's seven-member board includes representation from investors SoftBank, Kalaari Capital and Nexus Venture Partners, as well as co-founders <keyword id="219793" type="PERSON" weightage="20" keywordseo="Kunal-Bahl">Kunal Bahl</keyword> and <keyword id="396598" type="PERSON" weightage="20" keywordseo="Rohit-Bansal">Rohit Bansal</keyword>. 
 
ALSO READ: <a href="http://www.businessinsider.in/read-what-rohit-bansal-and-kunal-bahl-mailed-snapdeal-employees-amidst-flipkart-acquisition-speculations/articleshow/58108189.cms">Read what Rohit Bansal and Kunal Bahl mailed Snapdeal employees amidst Flipkart acquisition speculations</a>

Snapdeal to dole out up to 15% pay hike amid sell-off buzz

<ul><li>Flipkart is planning an IPO in the US by 2022. </li><li>Co-founder <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> has also sold a part of his stake in the company for $76.4 million.</li><li>Reports have been doing the rounds about <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> planning an exit from its biggest investment, because of India’s new e-commerce rules making the market complicated.</li></ul>Within a year of Walmart acquiring Flipkart, the global giant might exit it as Indian e-commerce player plans to raise money in the US markets. Flipkart<a href="https://economictimes.indiatimes.com/markets/ipos/fpos/flipkart-charts-roadmap-for-us-listing-by-2022/articleshow/69920934.cms"> is reportedly </a>heading for Initial Public Offer (IPO) in 2022 in the US, and this might mark the exit of its largest investor, Walmart. According to the ET report, Flipkart CEO Kalyan Krishnamurthy has already told his senior management to get ready for an IPO, and also aim at achieving profitability. Cashing out But it doesn’t stop there. Flipkart co-founder Binny Bansal, who had exited from all operational roles in the company over allegations of personal misconduct, has also sold a part of his shares for $76.4 million, according to filings sourced by paper.vc. Now, Bansal has a residual share of 3.52% in the company, down from 3.85%. Paper.vc also reported that Bansal had cashed out $159 million during the sale of Flipkart. Walmart had then acquired 77% stake in Flipkart for $16 billion. Reports have long been doing the rounds about Walmart planning an exit from the Indian retail company. While Flipkart’s latest revenue reports are not in, the company reported a loss of ₹11.6 billion in March 2018. <a href="https://yourstory.com/2019/06/ecommerce-walmart-funding-flipkart">Walmart</a> was also considering to pump in $1.2 billion more to fund Flipkart’s operations. Earlier in February 2019, Morgan Stanley also warned Walmart about its plans for the India market – the Indian e-commerce market was becoming “more complicated.” This report from Morgan Stanley had come after India’s new e-commerce rules which introduced tighter guidelines. As per the new rules, global players like Amazon or the Walmart-Flipkart entity, are barred from selling products from vendors they have own a stake in. Meanwhile, an Indian player which would be exempt from these rules is – Mukesh Ambani owned Jio along with <a href="https://www.livemint.com/companies/news/reliance-retail-testing-grocery-app-before-launch-of-e-commerce-platform-1556042589629.html">Reliance Retail</a>. It is planning its e-commerce debut which could also threaten the market share of the current players. See Also: <a href="https://www.businessinsider.in/govt-panel-on-new-e-commerce-rules-for-amazon-walmart-flipkart-and-snapdeal/articleshow/69892213.cms">A new government panel is looking at making e-commerce easier in India-- but it may be too soon to cheer for Amazon and Walmart</a>

Flipkart’s IPO in the US could see Walmart exit, Binny Bansal has already begun cashing himself out

<ul><li>It has also seen a 76% revenue growth, with it growing from ₹22.4 crores in FY18 to ₹38.6 crores.</li><li><keyword id="1947337" type="PERSON" weightage="20" keywordseo="Cashkaro">CashKaro</keyword> users can shop e-commerce sites like Amazon, Flipkart, Myntra and others to receive cashbacks.</li><li>In an interview with Business Insider, Swati Bhargava, co-founder, CashKaro explains how they cut losses.</li></ul>Cashback and <keyword id="608560" type="PERSON" weightage="20" keywordseo="discount-coupons">discount coupons</keyword> site Cashkaro cut down its losses from ₹1.6 crores in FY18 to ₹12 lakh in FY19. Its revenues grew by 76% from ₹22.4 crores in FY18 to ₹38.6 crores in the financial year ending March 2019. CashKaro helps users shop on e-commerce sites like Amazon, Flipkart, Myntra and others to receive cashbacks. It earns commission from the e-commerce players. “We are making more money because we have launched new cashback categories. Initially, Indian e-commerce was about a lot of mobile, electronics but we have diversified into beauty, mobile recharges, bill payments etc. These are high margin categories,” Swati Bhargava, co-founder, CashKaro told Business Insider. CashKaro was able to cut losses while increasing its headcount. It has gone from 78 people last year to 114 employees now. “We have streamlined our marketing a lot more, we used to spend on channels which are paid – Google, Facebook ads. Over the last one year, we did a lot more performance campaigns,” said Bhargava. Their campaigns were also targeted towards women and people in Tier 2 and beyond, where they see a lot of traction. “Until last year, our ratio of men and women used to be 85:15, now it’s 65:35,” she said.

How Cashkaro cut down its losses from ₹1.6 crores to ₹12 lakhs

Gokul Rajaram is Product Engineering Lead at Square. He was most recently the Product Director of Ads at Facebook, and the Product Management Director for Google AdSense. He recently joined LivSpace as its Special Advisor. Business Insider India caught up with him just when he was beginning his day in San Francisco. 
 
1) What led you to join Livspace? 
I joined Livspace because of the founding team. The team compliments each other very well, right from Anuj the founder and CEO to Ramakant and Shagufta of Space Matrix. Livspace helps one design home better; the very concept excited me. 
 
2) What’re the unique internet trends you see in India? 
Food, shelter, clothing and transportation are some of the basic necessities for people. The Internet is helping solve problems in all aspects of human life. Indian companies understand the specific needs of the <a href="http://www.businessinsider.in/searchresult.cms?query=consumers">consumers</a> in India and are designing products accordingly. 
 
US based <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce">e-commerce</a> giants like <a href="http://www.businessinsider.in/searchresult.cms?query=Amazon">Amazon</a> are competing with Indian companies because they are many untapped opportunities here in India with the growth of Internet. 
 
3) What are the current challenges for Indian e-commerce companies? 
One is definitely logistics - the ability to transport goods from the warehouse to the drop location. One has to ensure last mile logistics. The second is payment - there is a lot of <a href="http://www.businessinsider.in/searchresult.cms?query=cash+on+delivery">cash on delivery</a> (COD) in India as compared to other payment channels like debit and credit cards or the use of wallets. The third would be how to encourage the merchants, i.e. the sellers to sell more products online. 
 
Demographics and the usage of mobile define the gap among e-commerce sites when it comes to fashion and other product verticals. 
 
4) What is India’s e-commerce population like? 
A large section of the online population is in the age group of 18 to 25. They are also the largest users of <a href="http://www.businessinsider.in/searchresult.cms?query=smartphones">smartphones</a>. These people increase the mobile engagement of buying products online. In years to come every household will start using mobile to engage in online shopping. 
 
5) What are the current product innovations you’re planning at Square? 
We at Square are looking at consumer friendly solutions in the payments sector. We are currently building products which will enable easier payments methods through debit and credit cards. 
 
Image credit: Indiatimes

Gokul
Rajaram: Every household will start using mobile

<ul><li>The 30-share BSE index opened 176.87 points higher, and the NSE Nifty was up 0.45% at 13,172.80.</li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian equity benchmark indexes rallied in early trade to hit a fresh intraday record on Thursday, tracking gains in index majors HDFC Bank, Reliance Industries and Maruti amid largely positive cues from global markets. The 30-share BSE index opened 176.87 points higher, and the NSE Nifty was up 0.45% at 13,172.80. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAIL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td></tr></tbody></table>*as of December 3, 10:00 am These are the top stocks in news today. HDFC Life gains nearly 2% The shares of HDFC Life gained nearly 2% after<a href="https://economictimes.indiatimes.com/markets/stocks/news/standard-life-to-sell-27-8-million-shares-of-hdfc-life-on-thursday/articleshow/79533414.cms"> media reports claimed</a> that Standard Life is looking to sell up to 2.78 crore shares of HDFC Life through a block deal today to raise up to ₹1,770 crore. The sale price has been fixed at ₹605-636.50 apiece. Wipro opens a percent higher The shares of Wipro opened over a percent higher after the company bagged a multi-year contract from Verifone, a global leader in payments and commerce solutions, to drive agility across its cloud services offerings. IndiGo trades 2% higher The shares of India’s largest private airline IndiGo gained over 2% after the company said it has reached 70% of its pre-Covid capacity and is operating 1,000 daily international and domestic flights. DHFL locked in 5% upper circuit The shares of cash-strapped DHFL were locked in a 5% upper circuit after the Committee of Creditors for cash-strapped DHFL had voted in favour of inviting revised bids. And, December 14 has been set as the new deadline to submit bids. Tata Chemicals gained over 6% The shares of Tata Chemicals gained over 6% after Tata Sons bought shares worth ₹76 crore in the company. RIL and Future Retail trade in green The share of RIL and Future Retail were trading in the green territory after the Indian market regulator <a href="https://www.livemint.com/news/india/sebi-asks-bse-to-clarify-on-noc-to-ril-future-deal-11606901705869.html">SEBI has asked the BSE</a> to clarify on the no-objection-certificate (NOC) given by the exchange to the Future Group for amalgamation of some of its business as part of the ₹24,713 crore deal by Reliance Industries’ retail arm. SpiceJet gains over 2% The shares of India’s largest cargo operator gained over 2% after the company expressed it intends to expand the cargo business considerably over the next two years, after great success during the pandemic. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/burger-king-grey-market-premium-and-heres-what-brokerages-say-about-the-ipo-opening-tomorrow/articleshow/79508730.cms" data-type="tilCustomLink">Burger King India IPO opens today — brokerages recommend ‘subscribe’ on attractive valuations</a> <a href="https://www.businessinsider.in/india/news/delhi-chalo-no-breakthrough-in-talks-government-seeks-farmers-objections-suggestions-on-farm-laws/articleshow/79521894.cms" data-type="tilCustomLink">Delhi Chalo: No breakthrough in talks, government seeks farmers' objections, suggestions on farm laws</a> <a href="https://www.businessinsider.in/science/news/china-just-landed-its-change-5-spacecraft-on-the-moon-the-mission-could-bring-moon-rocks-to-earth-for-the-first-time-in-40-plus-years-/articleshow/79520221.cms" data-type="tilCustomLink">China just landed its Chang'e-5 spacecraft on the moon. The mission could bring moon rocks to Earth for the first time in 40-plus years.</a>

Sensex, Nifty hit record high — these are the top movers in trade today

<ul><li>Former <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> Group CEO <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> has closed the first round of $32 million for his VC fund called 021 Capital. </li><li>Binny Bansal has raised the round from Premji foundation and others. </li><li>Co-founder <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> is also said to be raising his own $1 billion fund.</li></ul>It appears that India’s iconic startup <keyword id="53533" type="COMPANY" weightage="20" keywordseo="entrepreneurs">entrepreneurs</keyword> -- Flipkart co-founders Sachin and Binny Bansal -- are back in business, albeit separately. Sachin Bansal was said to have begun the process for his own<a href="https://www.livemint.com/Companies/JSwzsV76Mlyam1lKyg5aoL/Sachin-Bansal-plans-up-to-1-billion-VC-fund-in-life-after-F.html"> fund for $1 billion</a> to invest in startups. Reports suggested that Sachin was going to pour in 40% of his earnings from the Flipkart exit into the fund while looking at raising <keyword id="6355120" type="UNKNOWN" weightage="20" keywordseo="investment">investment</keyword> to close the fund. Now, Binny Bansal has closed the first round of <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/premji-foundation-and-flipsters-back-binny-bansals-vc/articleshow/67413413.cms">$32 million</a> for his VC fund called ‘021 Capital’ which he had formed with Sailesh Tulshan, his financial adviser. The former Flipkart Group CEO has raised the round from Premji Foundation also with a backing from former Flipkart employees. The Bansal Hood The global retail giant Walmart took up a 77% stake in the Indian e-commerce company for a whopping $16 billion. The deal went on to become one of the world’s largest e-commerce deals with the founders Sachin Bansal and Binny Bansal opening the door for VC-backed startup exits in India. However, the deal also saw the exit of the Flipkart visionary Sachin Bansal with a cash-out of over $1 billion. Recently, Binny Bansal too stepped down from his position as CEO of the company following an internal review after an allegation of<a href="https://economictimes.indiatimes.com/industry/services/retail/binny-bansal-resigns-from-flipkart-on-allegations-of-personal-misconduct-walmart/videoshow/66606895.cms"> personal misconduct</a>. Although the allegation was taken down, it was Binny Bansal’s lack of transparency in the matter that cost him his job. Both the co-founders have a high regard in the Indian entrepreneurial ecosystem for having scaled up the startup from a two-bedroom apartment in Bengaluru to an e-commerce giant that one could say redefined the way Indians shop by introducing options like cash on delivery and return of goods. And they are not new to investments, both of them in their personal capacity have long been investing in Indian startups. See also: <a href="https://www.businessinsider.in/flipkart-group-ceo-binny-bansal-steps-down-following-allegations-of-serious-personal-misconduct/articleshow/66608441.cms">Flipkart Group CEO Binny Bansal steps down following allegations of ‘serious personal misconduct’</a> <a href="https://www.businessinsider.in/indian-unicorn-flipkarts-board-approves-15-billion-deal-with-walmart/articleshow/64027810.cms">Indian unicorn Flipkart's board approves $15 billion deal with Walmart</a> <a href="https://www.businessinsider.in/how-flipkart-went-from-being-an-online-bookseller-to-indias-biggest-e-commerce-story/articleshow/64100266.cms">How Flipkart went from being an online bookseller to India’s biggest e-commerce story</a>

India’s two startup icons switch to the other side — as venture capitalists

<div class="KonaFilter image-container display-table"><div><div class="image on-image">APSears CEO Eddie Lampert</div></div></div><ul class="summary-list"><li><a href="https://markets.businessinsider.com/stocks/shld-stock">Sears</a> shares plunged 29% ahead of Wednesday's opening bell after the Wall Street Journal reported it could file for bankruptcy protection as soon as this week.</li><li>The cash-strapped retailer has $134 million in debt due on Monday, according to The WSJ.</li><li>Sears appointed a restructuring expert, Alan Carr, to its board on Tuesday.</li><li><a href="https://markets.businessinsider.com/stocks/shld-stock">Watch Sears trade in real time here.</a></li></ul>Sears is set to open at a record low Wednesday, down more than 29% at $0.41 a share, after a report said it could file for bankruptcy protection as soon as this week.<a href="https://www.businessinsider.com/sears-is-said-to-be-inching-closer-to-bankruptcy-and-a-filing-could-come-as-soon-as-this-week-report-says-2018-10">The retailer has </a><a href="https://www.businessinsider.com/sears-is-said-to-be-inching-closer-to-bankruptcy-and-a-filing-could-come-as-soon-as-this-week-report-says-2018-10">hired M-III Partners to prepare a bankruptcy filing</a> as it has run out of cash and faces a debt payment deadline, The Wall Street Journal reported on Tuesday, citing sources familiar with the matter. M-III Partners is said to have been working on the potential bankruptcy filing for a few weeks, but the company is considering other options as well.The court filing could come as soon as this week as the cash-strapped company has $134 million in debt due on Monday, The WSJ says. On Tuesday, <a href="https://searsholdings.com/press-releases/pr/2114">Sears appointed a restructuring expert</a>, Alan Carr, to its board, expanding the six-person committee to seven. Carr has "significant experience as a principal, investor and advisor leading complex financial restructurings, as well as serving as a director of reorganized businesses in the US and Europe," the company said.Sears, who's stock price topped at more than $120 a share in 2007, has struggled under the leadership of Eddie Lampert, a former Wall Street prodigy. Lampert took control of Sears more than a decade ago and became its CEO in 2013. <a href="https://www.businessinsider.com/sears-kmart-close-46-stores-list-2018-8">The retailer has been losing money and closing stores</a> for years, in part because of an e-commerce boom that has seen companies like Amazon dominate the industry. In May, shares got a short-lived boost following news that the company was <a href="https://markets.businessinsider.com/news/stocks/sears-amazon-team-up-on-tires-2018-5-1023886146">partnering with Amazon</a> to provide automotive services to Amazon customers at Sears locations, <a href="https://www.businessinsider.com/sears-is-said-to-be-inching-closer-to-bankruptcy-and-a-filing-could-come-as-soon-as-this-week-report-says-2018-10">as Business Insider reported.</a>Sears has tanked 85% this year through Tuesday.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Markets Insider</div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/is-it-bad-to-eat-moldy-bread-2018-8">Never eat the 'clean' part of moldy bread</a></h3> <div> </div> </div>

You Searched For "Cash strapped Indian e commerce" and got 11 results

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