The one company that stands for all things Made-In-India and prides itself on being a custodian of Swadeshi versions of every consumer product has been quick on its feet. Patanjali Ayurveda, the FMCG giant established by Baba Ramdev has announced the launch of an ecommerce platform called “OrderMe” and that it will go live within the next 15 days. The platform will sell, other than Patanjali’s own products, made-in-India and Swadeshi products made by others. Other than products, the platform will also offer 24/7 consultations with its inhouse doctors and Ayurvedic experts.
Infibeam’s IPO, the first ever by an Indian e-commerce company, has got off to a sedate start. Day 1 of the IPO, which will run from 21st to 23rd March, saw 21% of shares on offer being snapped up by investors. Infibeam is trying to raise Rs. 450 crore and dilute 20% of its equity through this stock sale.
Sachin Bansal is a soft-spoken man. His words are usually measured, and his tone is usually conciliatory. But when Economic Times published reports claiming Flipkart might’ve been in sale talks with Amazon, the Flipkart cofounder was in no mood to play the nice guy. Tweeting right back at ET, he came up with this zinger.
While biggies like Flipkart and Snapdeal are figuring out where their next round of funding is coming from and looking at the very real possibility of down rounds, a relatively unknown player is the space is all set to get money from public markets. Infibeam, founded in 2007 by Cornell and MIT Sloan alumnus Vishal Mehta, is all set to IPO on 21st March from which it hopes to raise Rs. 450 crore.
In a bold marketing move, Snapdeal decided to do what Jimmy Kimmel had done very successfully with American celebrities. The company got its top management, including founders Kunal Bahl and Rohit Bansal and Chief Product Officer Anand Chandrasekaran to read out some of the most brutal feedback the company has received on social media.