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<ul><li>The <keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani Group</keyword> is looking to foray into the <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword> and payments segments in India.</li><li><keyword id="19929098" type="General" weightage="100" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> is India’s second richest man, with just <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> ahead of him.</li><li><keyword id="19898586" type="General" weightage="20" keywordseo="adani" source="keywords">Adani</keyword> Group is reportedly planning on offering <keyword id="19900911" type="General" weightage="20" keywordseo="UPI" source="keywords">UPI</keyword> and e-commerce services through the Adani One app.</li></ul> Gautam Adani-led Adani Group has a diverse portfolio, from ports to energy and more. The conglomerate is now reportedly looking to enter the e-commerce and payments segments as the group diversifies. According to a report by Financial Times, the Adani Group is in talks to enter the e-commerce and payments segments as it wants to expand its digital business to take on Mukesh Ambani’s <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> and Google in India. While the Adani Group has a stake in several businesses, it has yet to make its presence felt in consumer-facing segments. <cmsannotation type="cmsannotation" annotationid="Talks on for payments license, credit card" comment="subhead" text="Talks on for payments license, credit card">Talks on for payments license, credit card</cmsannotation> The Adani Group is reportedly considering applying for a license to operate on the country’s public digital payments network, the Unified Payments Interface (UPI). The group is also in talks with banks to offer a co-branded Adani credit card to its customers. <cmsannotation type="cmsannotation" annotationid="Push for ONDC" comment="subhead" text="Push for ONDC">Push for <keyword id="19987599" type="General" weightage="20" keywordseo="ONDC" source="keywords">ONDC</keyword></cmsannotation> The Adani Group is also reported to be in negotiations to enter the e-commerce segment through the government-backed Open Network for Digital Commerce (ONDC). With ONDC’s interoperable networks, companies do not have to invest in developing their own e-commerce platforms or payment systems. The ONDC services will reportedly be available on the company’s Adani One app, which was launched in 2022. The Adani One app currently offers travel services such as flight and hotel bookings. The services will initially be aimed at the company’s gas and electricity customers, offering them incentives to use their app in the form of cashback and discounts. <cmsannotation type="cmsannotation" annotationid="To take on Mukesh Ambani" comment="subhead" text="To take on Mukesh Ambani">To take on Mukesh Ambani</cmsannotation> Mukesh Ambani and Gautam Adani, who are the top two<a href="https://www.businessinsider.in/india/news/top-25-richest-people-in-india-in-2024/articleshow/110149894.cms"> richest people in India</a> have been competing for the top spot, with Adani occupying the top spot for a while. Gautam Adani’s net worth took a hit after a sharp decline in Adani Group shares during the Hindenburg saga. US-based research firm Hindenburg had released a report on the Gautam Adani-owned companies in late January in 2023, alleging stock manipulation among others. Adani Group’s<a href="https://www.businessinsider.in/business/corporates/news/gautam-adani-beats-mukesh-ambani-to-become-indias-richest-man/articleshow/106564235.cms"> shares rallied</a> after the country’s Apex Court passed a<a href="https://www.businessinsider.in/stock-market/news/adani-hindenburg-sc-verdict-sees-pack-rally-with-adani-energy-solutions-in-the-lead/articleshow/106505824.cms"> verdict</a> in favour of the group. Adani even went on to emerge as India’s richest man by adding $7.67 billion to his net worth in a short span. While Mukesh Ambani reclaimed the top spot, the gap is once again narrowing. According to the Bloomberg Billionaire’s Index, Gautam Adani’s net worth has now surged to $109 billion, just behind Mukesh Ambani who is valued at $114 billion, bringing down the gap to $5 billion. In the last year, Adani’s wealth has surged by $25 billion, while Ambani’s wealth has surged by $17.3 billion. Despite this surge, Adani’s wealth is yet to reach its peak of $119 billion. Adani’s new ventures will take on Mukesh Ambani’s JioMart and JioFinance, which is expected to soon begin offering payment services. Additionally, it will also take on Google Pay, one of India’s most popular UPI platforms. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/jiocinema-launches-new-annual-ad-free-subscription-plan-at-a-discount/articleshow/110486706.cms">JioCinema launches new annual ad-free subscription plan at a discount</a> <a href="https://www.businessinsider.in/sports/webstories/ipl-2024-award-winners-orange-cap-to-emerging-player-of-the-season-here-are-the-winners/slidelist/110454525.cms">IPL 2024 award winners – Orange cap to emerging player of the season, here are the winners</a> <a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms">Awfis Space Solutions IPO allotment – How to check allotment, GMP, listing date and more</a>

Adani Group could soon enter e-commerce and UPI segments, to rival Mukesh Ambani and Google

<ul class="summary-list"><li>Bolt founder Ryan Breslow proposes returning as CEO with a $2 million bonus and $1 million back pay.</li><li>Breslow left Bolt in 2022 due to investor conflicts and has since run wellness marketplace Love.</li></ul>Bolt's founder and ex-CEO wants to return to the driver's seat — and he's asking for a hefty payday to come back.<a target="_blank" class="" href="https://www.businessinsider.com/bolt-ceo-calls-stripe-ycombinator-mob-bosses-twitter-silicon-valley-2022-1">Ryan Breslow,</a> who founded <a target="_blank" class="" href="https://www.businessinsider.com/ryan-breslow-startup-bolt-raising-new-funding-14-billion-valuation-2022-1">e-commerce software startup Bolt</a> a decade ago, proposed a deal to investors this week, The Information and <a target="_blank" class="" href="https://www.newcomer.co/p/bolts-audacious-letter-to-investors">Eric Newcomer </a>reported Tuesday.The terms of the funding round were highly unusual, including a $2 million bonus for returning and $1 million in back pay for the two years he was away from the company, the outlets reported, citing a private equity partner who was involved in the deal. The partner has since said that his firm is no longer involved.Breslow left the company in early 2022 because of conflicts with investors. The 30-year-old entrepreneur's <a target="_blank" class="" href="https://www.forbes.com/sites/sarahemerson/2024/03/11/the-billion-dollar-unraveling-of-ryan-breslow/">career</a> has been marked by controversy, including lawsuits, a fight with an early investor, and a <a target="_blank" class="" href="https://www.businessinsider.com/bolt-ceo-calls-stripe-ycombinator-mob-bosses-twitter-silicon-valley-2022-1">public spat</a> with competitor Stripe and Y Combinator.Bolt's interim CEO Justin Grooms wrote in a letter to investors reviewed by The Information that the company was raising $450 million in a Series F round that would value Bolt at over $14 billion. According to Newcomer, Bolt's annualized run-rate revenue was $28 million, and its gross profit was $7 million.The deal comes with several other eyebrow-raising clauses that would further benefit Breslow, reported Newcomer and The Information:<ul><li>Breslow would get an option to sell 10% of his shares and the right to purchase Bolt subsidiaries conscious.org and <a target="_blank" class="" href="https://www.businessinsider.com/four-day-workweek-company-bolt-productivity-jobs-fridays-weekends-2022-3">fourdayweek.com </a>from the company for $1 at any time. Breslow had <a target="_blank" class="" href="https://www.businessinsider.com/how-bolt-made-change-4-day-work-week-top-exec-2022-1">championed a four-day workweek</a>.</li><li>He would also get a new equity grant that would be "no less than the 90th percentile of CEO equity compensation packages of similar companies in Bolt's industry."</li><li>If Bolt hits a $50 billion valuation in a $100 million or greater fundraise, Breslow would receive an additional stock grant of 5% of the issued and outstanding Bolt shares.</li><li>The company would partner with Love, a wellness marketplace run by Breslow since he was ousted from Bolt.</li><li>Bolt would invest $10 million into The London Fund, a venture capital firm that appears to be one of the main investors in its current funding round. The Information reported Breslow is a director at the fund, which also invested in Love.</li></ul>Bolt's investors were also told that they would need to chip in more money for this funding round. If they fail to do so, Bolt would buy most of them out for one cent a share, a particularly aggressive "pay-to-play" move in the startup world, reported Newcomer.The proposal requires approval from an investor majority, and shareholders have from late Monday to Wednesday to decide, reported The Information.Bolt's prior investors include BlackRock, Sequoia Capital, Founders Fund, and Intuit, per PitchBook. Neither Bolt nor Breslow immediately responded to Business Insider's requests for comment, sent outside standard business hours.

E-commerce startup Bolt wants to raise new money under aggressive terms that could make its once-ousted founder rich, reports say

E-commerce platform <keyword id="1715801" type="General" weightage="100" keywordseo="shopify" source="Orion">Shopify</keyword> on Tuesday announced to cut 10 per cent of its workforce -- around 1,000 <keyword id="6357081" type="General" weightage="20" keywordseo="employees" source="Orion">employees</keyword> across verticals -- as it failed to predict that the e-commerce industry would continue to grow beyond the pandemic at the same pace it did during the two-year period. The company CEO <keyword id="5695811" type="General" weightage="50" keywordseo="tobi-lutke" source="Orion">Tobi Lutke</keyword> said in a statement that Shopify has to go through a reduction in workforce that will see about 10 per cent leave by the end of the day. "Most of the impacted roles are in recruiting, support, and sales, and across the company we're also eliminating over-specialized and duplicate roles, as well as some groups that were convenient to have but too far removed from building products," he informed. The company was sending emails to those affected and they will "have a meeting with a lead in their team". <keyword id="14565887" type="General" weightage="80" keywordseo="lutke" source="Orion">Lutke</keyword> said that before the pandemic, <keyword id="436047" type="General" weightage="20" keywordseo="ecommerce" source="Orion">ecommerce</keyword> growth had been steady and predictable. "Was this surge to be a temporary effect or a new normal? And so, given what we saw, we placed another bet: We bet that the channel mix - the share of dollars that travel through ecommerce rather than physical retail - would permanently leap ahead by 5 or even 10 years", he mentioned. Shopify's workforce jumped from 1,900 in 2016 to around 10,000 in 2021 to meet the expected growth. However, Lutke said that it is now clear that bet didn't pay off. "What we see now is the mix reverting to roughly where pre-Covid data would have suggested it should be at this point. Still growing steadily, but it wasn't a meaningful 5-year leap ahead," he informed. Those affected in the layoff will get 16 weeks of severance pay, plus an additional week for every year of tenure at Shopify. "We'll remove any equity cliff, and extend any medical benefits. Knowing that Shopify is just one stop on a career journey, we'd also like to help set everyone up for success as they take their next steps," said the CEO., adding that the company will offer outplacement services with access to career coaching, interviewing support, resume crafting, etc. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/there-is-an-exodus-of-games-from-web2-to-web3-says-this-blockchain-adoption-entity/articleshow/93139457.cms">There is an exodus of games from Web2 to Web3, says this blockchain adoption entity</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/rapido-ceo-unicorn-india-invest-in-windo-that-is-helping-small-businesses-take-their-business-online/articleshow/93139058.cms">Rapido CEO, Unicorn India Ventures invest in social commerce startup Windo</a>

E-commerce platform Shopify lays off 1,000 employees

<ul class="summary-list"><li>Lucia Polverino landed a coveted role as a venture capital analyst in London in her early 20s.</li><li>She said her experiences in PR and product management were instrumental in this transition.</li></ul>This as-told-to essay is based on a transcribed conversation with Lucia Polverino, a 24-year-old analyst at a venture capital firm based in London. Business Insider has verified her employment. The following has been edited for length and clarity.I was always passionate about getting into the workplace as quickly as possible after university. After graduating, I dabbled in a career in public relations and product management before landing my role as a venture capital analyst — but my varied experiences helped me get to this point.My first office job was a placement in my first year at university, where I studied for a degree in business administration. I worked at Piper Sandler, an American investment bank. I spent six months in their healthcare M&amp;A division. It was a really good first formative experience, but it was challenging.My next placement was in my third year of university. I worked at KKR in their private credit team. But because this happened during the COVID-19 pandemic, I had to be proactive as <a target="_blank" href="https://www.businessinsider.com/recent-college-grad-quit-dream-job-work-from-home-2024-4">we weren't in the office</a>, and try to get my colleagues to give me more work to do. It was a really valuable experience.After graduating, I was adamant I wanted to try something less corporate. My first job out of university was at a tech PR firm. I've always been interested in entrepreneurship, media, and communications. It was a 15-person team when I joined, which made for a startup-like environment — very entrepreneurial and dynamic. I worked with eight clients across AI, cyber security, e-commerce, and business-to-business sectors. That was an inflection point because it diverted my career toward the tech world.I loved working with tech companies and startups, so after nine months, I decided to go in-house and work at a tech company. As a recent graduate, I was still eligible for roles targeted toward recent university graduates which provide a structured career path into a particular sector. I loved the sound of product management. You can work with a bunch of different teams, such as engineering, marketing, and UX; this was similar to the way I worked in PR with different clients. I was lucky enough to secure a grad job in the product team at ICIS, which is a data team within LexisNexis, a software company.My job in product management was instrumental in leading me to venture capital. I understood the key levers in a tech company that influence its growth. I've always liked wearing different hats, and these threads led me to join Playfair, a generalist VC fund.<h2 id="371fbf1a-872d-41fd-a6a6-311ea68a2add">I was so surprised at how relevant my PR experience was</h2>I was so surprised at how relevant my PR experience was because so much of VC is investor relations. It's really important to form friendships with investors, not just transactional relationships. Equally, because I was working with tech companies in my PR role, it was easy to verbalize and justify why I loved tech companies and working with startups in my interview. It's really important for young people in interviews to bring in their past experiences and talk about how it will help them be good candidates.For <a target="_blank" href="https://www.businessinsider.com/day-in-the-life-of-gen-z-vc-in-london-2022-7">young people who want to apply to VC</a>, it's really important to figure out the kind of fund you want to apply for. If your background is generalist and diverse, that kind of VC fund would likely suit you. But if you started your career with a technical background, you'd perhaps be suited to a deep tech fund. You should understand where you will add the most value.Being a pandemic graduate also made me less worried about finding a linear career path and sticking to it for five years. During the pandemic, I thought, who knows what will happen in six months? Nothing was certain — it seemed like the pandemic would never end. This impacted my mindset, and I was more willing to take risks and figure out what I actually liked. I think it's also more of a Gen Z trend because we are <a target="_blank" href="https://fortune.com/2024/04/23/gen-zers-millennials-job-switching-accelerating-pros-cons-careers-employment/">more likely to job-hop</a> than previous generations.<h2 id="a0326792-b564-4676-ac2d-e5686145c0cd">You don't need a background in investment banking to get into VC anymore</h2>It may have been true in the past that you need an investment banking background to get into VC, but that's not the case anymore. I've met more people that don't come from banking than do. In my case, at a pre-seed fund, making a financial model from scratch would be less useful a skill to have.VC is such a broad industry — and your experience will be shaped by what stage your fund invests in. The hiring managers usually like young people who have had startup experience, such as being an operator. I've also met so many people who come from software engineering and technical backgrounds and work at deep tech funds. I've also met a lot of people coming from NGO and charity backgrounds. This ultimately speaks to the sector you may want to specialize in once you get into VC.You could also show you have an entrepreneurial mindset to some degree. My hiring managers loved that I had a fashion blog when I was at university and that I would reach out to brands to partner with for my videos. It's really important to show that you love entrepreneurship and working with founders.Try to <a target="_blank" href="https://www.businessinsider.com/top-recruiters-hiring-staffing-tech-job-wall-street-headhunters-2024-4">leverage recruiters</a> if you can. At Playfair, we have a very transparent hiring process, and the fund markets the position as much as possible — but that's not the same for all VC funds. I found my job through a recruiter called JumpStart, and it's a very helpful avenue for younger grads.

I landed a job in venture capital at 24 after changing my career path twice. Here's how I got the coveted job with a varied résumé.  

<ul class="summary-list"><li>Select businesses can now sign up for TikTok Shop US if they're interested in selling their products to TikTokers.</li><li>The feature is only available in the US, UK, and seven regions of Asia.</li></ul>Americans may be closer to getting the TikTok Shop feature just in time for the holidays.<a href="https://seller-us-accounts.tiktok.com/account/register">US merchants are now able to sign up for TikTok Shop</a> if they're interested in selling products directly to consumers through the video-sharing app."TikTok Shop is an innovative new shopping feature which enables merchants, brands and creators to showcase and sell products directly on TikTok through in-feed videos, LIVEs, and the product showcase tab," a message on the official site reads.The shopping feature is currently only available in the UK and seven regions of Asia.Although the site to register a business to sell on the platform is up and running in the US, it's not available to every business owner. Currently, those attempting to register must provide an "invitation code" to access the application.According to the TikTok sign-up site, merchant corporations must provide a US company registration document to apply while individual sellers need a US-issued passport or driver's license. Applicants can expect a response a day or two after submitting.<a href="https://www.semafor.com/article/11/11/2022/tiktok-launches-e-commerce-feature-in-app-to-compete-with-amazon">A report from Semafor</a> said the app is only inviting select businesses to sign up, but it's unclear which companies received the invitation.The Bytedance-owned app advertised "higher quality traffic," "better consumer experience," and "seamless creator collaboration" to merchants who register.Although it costs nothing to apply, TikTok takes a commission from each sale, the site reads."The commission fee for each product sale is 5%. This is reduced to 1.8% for the first 90 days after successful registration, and then the commission rate reverts back to 5% after the 90 days," the site explains.The app began testing a "Shop" feed tab in Indonesia, according to a <a href="https://techcrunch.com/2022/06/30/tiktok-dedicated-shop-feed-that-highlights-products-buy-now/?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS8&amp;guce_referrer_sig=AQAAALQyGzXyOiHwwjwtVHnlnyDZ5LMeZnxNFxlYw-pyi8NDa0JBiNlGCDzPN_8S4MmoVTgf0DSQIe_1-cE_p9IY7CP4bGJ6Uf9oNGVMUrbeNFGD2LnavHAUU8GfO_QyyEPqtX3pnHgPuwW_AUCfEDfslfOFxJNx4sU9ShwZBFPvltkK">June report from Techcrunch</a>, and previously <a href="https://www.businessinsider.com/tiktok-in-app-shopping-with-shopify-2021-8">partnered with Shopify</a> to allow users to shop in-app in 2021.On Tuesday, <a href="https://www.ft.com/content/e70316fa-bae2-4b3a-989f-d761e078b7a0">Financial Times reported</a> the restructuring of TikTok's US Operations to place former North America general manager Sandie Hawkins at the helm of TikTok Shop US."She will be a valuable partner . . . as (e-commerce) becomes a critical part of our client needs and TikTok builds on many of the native behaviours we already see on the platform," global solutions executive Blake Chandlee said in a Monday note to staff, FT reports.

TikTok's venture into e-commerce continues as US American merchants can now apply to sell on TikTok Shop

<ul><li><keyword id="54327" type="General" weightage="50" keywordseo="grasim-industries" source="Orion">Grasim Industries</keyword> announces foray into a business-to-business e-commerce platform for building materials.</li><li>The platform will focus on MSMEs in the building materials segment.</li><li>The building materials procurement Industry grew by 14% over the last three years</li></ul><keyword id="6455991" type="General" weightage="80" keywordseo="grasim" source="Orion">Grasim</keyword> Industries, a flagship company of the <keyword id="44373" type="General" weightage="80" keywordseo="aditya-birla-group" source="Orion">Aditya Birla Group</keyword>, announced its foray into a business-to-business e-commerce platform for building materials. It intends to invest ₹2,000 crore in the next five years. “This investment adds a new high-growth engine with clear adjacencies within Grasim’s standalone businesses as also that of its subsidiaries and associate companies,” said the company in a statement. The new platform will focus on micro, small and medium enterprises (MSMEs) in the building materials segment and will be operated by a newly recruited leadership team from the digital ecosystem. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> “The foray into B2B e-commerce is yet another strategic portfolio choice as it crystallizes our intent to invest in the new-age, high growth digital space. The building materials segment presents a huge scalable business opportunity with a proven path to profitability,” said <keyword id="6354955" type="General" weightage="50" keywordseo="kumar-mangalam-birla" source="Orion">Kumar Mangalam Birla</keyword>, chairman, Aditya Birla Group. The overall building materials procurement Industry in India has grown at a compound annual growth rate (CAGR) of 14% over the last three years. This industry is estimated at $100 billion with current digital penetration of just 2%. “With this foray, Grasim would be able to leverage the large B2B ecosystem within the Aditya Birla Group,” Birla added. The company believes that B2B e-commerce is a high growth opportunity with attractive long-term returns and will be highly value accretive to its stakeholders. “The key value proposition would be an integrated procurement solution including on-time delivery and a superior product range at competitive pricing,” the company further added. In May, the company also announced that it is doubling its capex plans in the paint segment to ₹10,000 crore. Grasim is a global producer of Viscose Staple Fibre and Viscose Filament Yarn, the one of the largest Chlor-Alkali, advanced material, linen yarn and fabrics producers in India. The group also made its entry into the paints business and has six plants across India locations. Its subsidiaries — UltraTech Cement and <keyword id="6391710" type="General" weightage="50" keywordseo="aditya-birla-capital" source="Orion">Aditya Birla Capital</keyword> — are one of India’s largest cement producers and a leading diversified financial services player in India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/fixed-deposits-back-in-vogue-as-crypto-stock-market-get-hit-by-global-headwinds/articleshow/92983763.cms">Fixed deposits back in vogue as crypto, stock market get hit by global headwinds</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/food-items-when-sold-loose-wont-attract-any-gst-says-nirmala-sitharaman/articleshow/92993947.cms">Food items when sold loose won't attract any GST, says Nirmala Sitharaman</a>

Aditya Birla group to spend ₹2,000 crore on an MSME e-commerce venture

Hitting a hattrick of 6’s to dazzle the crowd hasn’t been the only cool thing <keyword id="6354832" type="General" weightage="20" keywordseo="MS-dhoni" source="Orion">MS Dhoni</keyword> has been up to of late. The Indian cricketing legend continues to make waves off the pitch in many ways, one of which involves investing in interesting and impactful <keyword id="20067715" type="General" weightage="20" keywordseo="start-up" source="keywords">start-up</keyword> projects. His latest venture involves an undisclosed investment in <keyword id="20656950" type="General" weightage="20" keywordseo="electric-cycle" source="keywords">electric cycle</keyword> manufacturer <keyword id="20835176" type="General" weightage="20" keywordseo="EMotorad" source="keywords" meta.keywordsubtype="org" meta.entityname="EMotorad" meta.hostid="261" meta.entityid="EMotorad">EMotorad</keyword>. In addition to his financial backing, <keyword id="19896463" type="General" weightage="100" keywordseo="Dhoni" source="keywords">Dhoni</keyword> is set to serve as the <keyword id="21321553" type="General" weightage="20" keywordseo="brand-endorser" source="keywords">brand endorser</keyword> for the company, further solidifying his role in shaping its future direction. Expressing his excitement for this venture, Dhoni commented: “The future is in our hands. We are in an era where innovation plays a huge role in shaping sustainable solutions, and I’m a fan of new-age companies that build these. EMotorad stands at the forefront of shaping the future of mobility, and I am thrilled to be a part of this journey!” <keyword id="20835175" type="General" weightage="20" keywordseo="Kunal-Gupta" source="keywords">Kunal Gupta</keyword>, founder and chief executive of EMotorad, expressed confidence that MS Dhoni's association with the brand will significantly boost awareness and trust in the e-biking sector. He told ET: “There is no one better and more reliable than Dhoni who resonates with what our brand stands for, an avid biker himself.” <div type="twitter" handle="e_motorad" handlename="e_motorad" favoritecount="0" retweetcount="0" id="1776119471704608843"></div> This Pune-based startup now joins a growing list of startups that are part of Dhoni's diverse portfolio, which includes ventures spanning various sectors such as fitness, technology, automotive and digital solutions. As per The Economic Times, notable among his investments are Bengaluru-based fitness startup Tagda Raho, digital lending platform Khatabook, and Gurugram-based used car retailer Cars24. Founded in 2020 by Kunal Gupta, Rajib Gangopadhyay, Aditya Oza and Sumedh Battewar, EMotorad has rapidly gained traction in the Indian e-cycle market, capturing a 65% share. With a focus on cutting-edge technology and strategic partnerships, the company aims to revolutionise transportation by offering high-quality and value-driven solutions. Back in November 2023, EMotorad demonstrated its growth potential by securing substantial funding worth Rs 164 crore in a Series B round led by Panthera Growth Partners. It has raised a total of $20 million in equity thus far. The company boasts a network of more than 350 dealers nationwide, along with over 10 experience centres. Despite its strong foundation in India, its reach spans across eight countries, demonstrating its global presence and influence. Offline dominance aside, EMotorad also leverages online platforms to reach a wider audience, including e-commerce giants like Amazon and Flipkart. In the fiscal year ending March 2024, EMotorad reported sales of Rs 140 crore, a notable increase from Rs 115 crore the previous year. Looking ahead to FY25, the company targets sales of Rs 270 crore, with approximately Rs 130 crore stemming from domestic markets and the remainder anticipated from regions like the US and Europe. With plans underway for a new factory and the development of innovative e-cycle designs, EMotorad is poised for further expansion. By diversifying its product range, expanding its market reach, and now partnering with one of the most beloved sporting figures in the country, the company is fully committed to solidifying its position as a leader in the evolving mobility landscape. (With inputs from The Economic Times)

Dhoni goes electric: Former team India captain invests in affordable e-bike start-up EMotorad

E-commerce aggregation platform <keyword id="4178573" type="PERSON" weightage="20" keywordseo="ShipRocket">Shiprocket</keyword> on Thursday said it has raised $41.3 million (about Rs 305 crore) in Series D1 funding co-led by <keyword id="11591696" type="UNKNOWN" weightage="20" keywordseo="PayPal-Ventures">PayPal Ventures</keyword>, the corporate VC arm of <keyword id="6357940" type="DEFINITION" weightage="20" keywordseo="paypal">PayPal</keyword>. The latest infusion of capital brings Shiprocket's total funding to $94.3 million. The New Delhi-based company said that it aims to leverage these funds to fuel product development for both existing and new products, to invest in research and development, continue <keyword id="29547" type="PERSON" weightage="20" keywordseo="Market">market</keyword> expansion and accelerate overall growth. Direct-to-consumer (D2C) <keyword id="84" type="ORGANIZATION" weightage="20" keywordseo="Commerce">commerce</keyword> forms roughly 15 per cent of the overall e-commerce market in India and this is projected to grow to 30-35 per cent in the next five years. "Shiprocket is democratizing best-in-class experiences for hundreds of thousands of eCommerce brands that are shipping millions of items per month through our platform today," said <keyword id="1759829" type="PERSON" weightage="20" keywordseo="Saahil-Goel">Saahil Goel</keyword>, CEO, and Co-Founder of Shiprocket. A part of the funds will also be directed towards the platform's new strategic initiatives, including global expansion starting with the Middle East, the company said. Existing investors Bertelsmann India Investments and <keyword id="10449266" type="UNKNOWN" weightage="20" keywordseo="Info-Edge-Ventures">Info Edge Ventures</keyword>, March Capital and <keyword id="9200827" type="UNKNOWN" weightage="20" keywordseo="tribe-capital">Tribe Capital</keyword> also participated in the round. The funding round also saw participation from strategic partners, such as <keyword id="2777173" type="PERSON" weightage="20" keywordseo="Razorpay">Razorpay</keyword> and Innoven Capital, and entrepreneurs including Cred founder Kunal Shah and Zomato founder Deepinder Goyal. "Shiprocket has excelled by focusing on building products that solve major logistical problems for businesses as they scale, much like PayPal has supported merchants with payments," said Marc Donnadieu, Director, PayPal Ventures. Over 100,000 online sellers in India are using Shiprocket to streamline their post-checkout process, starting from logistics to warehousing to COD management. "The goal is that as Shiprocket expands its capabilities and tools for sellers, anyone with a product to sell should be able to avail of Shiprocket's suite of products and services at one click to get their business off-the-ground with an Amazon-like one-day delivery experience", said Kitty Agarwal, Partner, Info Edge Ventures. Founded in 2017, Shiprocket became profitable in FY18-19 and is on track to close this financial year at $100 million in annual recurring revenue (ARR). Shiprocket currently processes more than 5 million monthly shipments. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrencies-exchanges-can-run-into-trouble-with-investors/articleshow/84205889.cms">Cryptocurrencies aren't all diamonds and roses — lawsuits from people who lost big are piling up with exchanges</a> <a href="https://www.businessinsider.in/business/auto/news/simple-energy-new-electric-scooter-promises-240km-range-on-a-70-minute-charge/articleshow/84164967.cms">This new electric scooter promises 240KM range on a 70-minute charge, could be priced under ₹1,20,000</a>

PayPal pumps in ₹305 crore in Indian logistics platform Shiprocket

<ul><li>The IPO was open for subscription from September 28 to November 1.</li><li>The company announced the allotment of IPOs yesterday, November 8.</li><li>Initiation of refund procedure or unblock of amount in a bank account will begin from today, November 9.</li></ul>If you had applied for fashion and beauty ecommerce platform <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> initial public offering (IPO), the IPO allotment has been already done. The company announced the allotment of IPOs yesterday, November 8. The company received huge demand from investors, who had oversubscribed the IPO by 82.42 times. Overall, the IPO has received bids for 216 crore equity shares against the IPO size of 2.62 crore equity shares. If you have not checked whether you received the IPO allotment or not, <a href="https://www.businessinsider.in/stock-market/news/here-is-how-to-check-paras-defence-and-space-technologies-ipo-allotment/articleshow/86559437.cms">click here </a>and follow the procedure. For those who checked and have not been allotted the shares of the mutual fund company — the initiation of refund procedure will begin from today, November 9. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 9 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 10 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 11 </td></tr></tbody></table> Once the IPO result is released, all the applicants who got allotment will receive the share in their demat account on the date of listing. And the rest, who unfortunately didn’t get the allotment will receive their IPO refund on/before the end date of mandate. Usually, with the registered phone number on the investment platform, every applicant gets a message when shares are blocked and unblocked in their bank account. This indicates if one has received the IPO allotment or not. Most of you would have received a request for UPI ID while completing IPO transaction. After the submission, investors will receive a validity period. The IPO amount which is blocked in an investor account usually gets unblocked one day later the IPO allotment or before the end of the validity period. Here is the screenshot of an IPO mandate after the transaction is made through the UPI ID that has the validity period of the IPO. <div type="image" title="zerodha refund" height="900" width="1200" msid="87594520" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/spicejets-liquidity-turbulence-hits-worlds-largest-aircraft-leasing-companies/articleshow/87583233.cms">There are several problems ailing SpiceJet and the taxman knocking on its doors is just one of them</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/latent-view-analytics-ipos-grey-market-indicates-over-100-premium/articleshow/87585958.cms">Latent View Analytics IPO’s grey market indicates over 100% premium</a>

Not received Nykaa IPO refund? Here are the things you should know about

<ul><li>Nykaa is likely to announce its share allotment status on November 8.</li><li>The public issue of the fashion and beauty ecommerce platform has been subscribed 82.42 times on the third and final day of the issue on November 1.</li><li>The company’s IPO has received bids for 216 crore equity shares against the IPO size of 2.62 crore equity shares.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>Fashion and beauty ecommerce platform Nykaa, owned by FSN E-commerce Ventures, is likely to announce the allotment status of its initial public offering (IPO) on November 8. The company received huge demand from investors, who had oversubscribed the IPO by 82.42 times. Overall, the IPO has received bids for 216 crore equity shares against the IPO size of 2.62 crore equity shares. The IPO was open for subscription from September 28 to November 1 with a price band of ₹1,085- ₹1,125 per share . The company is looking to raise ₹5,325 crore through public listing of shares. According to Nykaa’s red herring prospectus, the beauty and fashion ecommerce platform intends to use this capital for acquisition of customers as well as new businesses. It also plans to increase its international presence by foraying into the <a href="https://www.businessinsider.in/business/news/soon-to-be-listed-nykaa-plans-to-expand-to-middle-east-and-the-uk/articleshow/87257541.cms">Middle East as well as the United Kingdom</a>, before stepping into Europe. Here is how to check <keyword id="10858430" type="General" weightage="20" keywordseo="nykaa-ipo" source="Orion">Nykaa IPO</keyword> allotment status on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select 'FSN E-commerce or Nykaa’.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on 'FSN E-commerce or Nykaa’.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/here-is-why-cleartax-clinched-a-deal-with-the-worlds-most-valued-fintech-company/articleshow/87509691.cms">Here is why Clear(Tax) clinched a deal with the world's most valued fintech company</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/the-strong-financial-performance-of-makemytrip-easemytrip-and-irctc-hints-towards-a-larger-travel-recovery-in-india/articleshow/87503220.cms">The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India</a>

Nykaa IPO: Remember to check your allotment status tomorrow

<keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>'s <keyword id="15391148" type="General" weightage="20" keywordseo="e-logistics" source="Orion">e-logistics</keyword> sector has become one of the largest and fastest growing logistics markets globally and is all set to reach the $9 billion industry, with a compound annual growth rate of 35 per cent, a report showed on Monday. The number of e-commerce logistics shipments is expected to grow by four times in the next five years. "Thanks to new-age tech-enabled players who have entered India's logistics arena, it is now easier for small- and medium-sized businesses to transport goods, and there is a drastic increase in the speed and efficiency in which parcels are delivered," says the report by Bengaluru-based <keyword id="13724596" type="General" weightage="50" keywordseo="redseer-strategy-consultants" source="Orion">Redseer Strategy Consultants</keyword>. Among such players, Delhivery is well positioned at the cross-section of the various logistics sector growth drivers including infrastructure, offline commerce, digital consumption, and adoption of technology and data sciences. The e-commerce logistics sphere has contributed to the overall growth of India's logistics sector and enabled the e-retail boom in India. The proliferation of smartphones and localisation of the internet in non-English languages is drawing in new consumers from non-metro locations into the internet economy and creating new demand for online commerce, thus paving the need for disruption in logistics. According to the report, the availability of multiple payment options such as <keyword id="6358921" type="General" weightage="50" keywordseo="upi" source="Orion">UPI</keyword>, no-cost <keyword id="6357050" type="General" weightage="50" keywordseo="emi" source="Orion">EMI</keyword>, BNPL (buy now, pay later) etc. are further driving the adoption of digital commerce by more consumers, thereby creating a need for e-commerce logistics. "Multiple segments in the India logistics market are addressable by full-stack-tech-enabled logistics service providers. There seems to be great headroom for growth as tech-enabled logistics players venture into adjacent segments such as hyperlocal delivery, express delivery, trucking, and more," the report mentioned. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-gains-15-paise-to-82-32-against-us-dollar/articleshow/95193584.cms">Rupee gains 15 paise to 82.32 against US dollar</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/upcoming-new-cars-and-suvs-in-india-in-november-2022/slidelist/95194572.cms">Upcoming cars launching in India in November 2022</a>

India e-logistics industry set to touch $9 bn with e-commerce boom

<ul class="summary-list"><li><keyword id="11948131" type="UNKNOWN" weightage="60" keywordseo="ryan-cohen" source="Orion">Ryan Cohen</keyword> has scored a 25-fold gain on his <keyword id="11937112" type="UNKNOWN" weightage="60" keywordseo="gamestop" source="Orion">GameStop</keyword> bet in eight months.</li><li>The <keyword id="11948134" type="UNKNOWN" weightage="60" keywordseo="chewy" source="Orion">Chewy</keyword> cofounder spent $76 million for a stake worth $1.9 billion today.</li><li>Cohen is a key reason why GameStop shares have soared more than 1,000% this year.</li></ul>Ryan Cohen has scored a roughly 2,400% gain on his <a href="https://markets.businessinsider.com/stocks/gme-stock">GameStop</a> investment in eight months, valuing his stake at nearly $2 billion today.The Chewy cofounder and activist investor first revealed a position in the video-game retailer a year ago, and grew his holding to just over 9 million shares by mid-December. He spent a total of $76 million to build that position, regulatory filings show, indicating he paid an average price of $8.40 a share.GameStop's stock price has ballooned since then, valuing Cohen's 12.5% stake at $1.9 billion today - an almost 25-fold gain on paper. The company's shares have soared more than 1,000% this year alone, from below $20 at the start of January to about $210 at the time of writing.Cohen is both a major beneficiary and key driver of the stock surge. The billionaire <keyword id="11894549" type="UNKNOWN" weightage="60" keywordseo="e-commerce" source="Orion">e-commerce</keyword> entrepreneur's investment was a vote of confidence in GameStop last year, and he hinted at his plans to turn the retailer into a technology company in a <a href="https://s.wsj.net/public/resources/documents/RC_Ventures_Letter_to_GameStop.pdf">letter to its board of directors</a> last November.Since then, he's overhauled the board, secured the role of chairman, and expressed his commitment to transforming the business and helping it realize its potential.Moreover, Cohen's activism was a key reason why retail investors decided to execute a short squeeze on GameStop shares in January, boosting its price as high as $483 - briefly valuing the <keyword id="11948132" type="UNKNOWN" weightage="60" keywordseo="rc-ventures" source="Orion">RC Ventures</keyword> chief's stake at $4.3 billion. Cohen's involvement may also have shored up GameStop's stock price when the company issued 8.5 million new shares earlier this year, raising $1.7 billion.

You Searched For "e commerce ventures" and got 12 results

Adani Group could soon enter e-commerce and UPI segments, to rival Mukesh Ambani and Google

Sourabh Jain

E-commerce startup Bolt wants to raise new money under aggressive terms that could make its once-ousted founder rich, reports say

Shubhangi Goel

E-commerce platform Shopify lays off 1,000 employees

IANS

I landed a job in venture capital at 24 after changing my career path twice. Here's how I got the coveted job with a varied résumé.

Riddhi Kanetkar

TikTok's venture into e-commerce continues as US American merchants can now apply to sell on TikTok Shop

Jordan Hart

Aditya Birla group to spend ₹2,000 crore on an MSME e-commerce venture

Vaamanaa Sethi

Dhoni goes electric: Former team India captain invests in affordable e-bike start-up EMotorad

Kunal Kambli

PayPal pumps in ₹305 crore in Indian logistics platform Shiprocket

IANS

Not received Nykaa IPO refund? Here are the things you should know about

Bhakti Makwana

Nykaa IPO: Remember to check your allotment status tomorrow

Bhakti Makwana

India e-logistics industry set to touch $9 bn with e-commerce boom

IANS

Activist investor Ryan Cohen has scored a 25x gain on his GameStop bet - and now commands a $1.9 billion stake

Theron Mohamed

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