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.
Watching the ‘orders’ page of our online store became an exercise in studying the American psyche. Over the last few weeks, I’ve seen with part delight, and part discomfort, capitalism play out in the face of a fast-escalating health crisis in the most powerful country on earth.
The Indian consumer has grown accustomed to discounts offered by online retailers, a new government ruling says that discounts are essentially not allowed in e-retail.
An ugly controversy has put a dampener on Infibeam’s IPO on the very first day. Factor Daily has reported that a large section of twitter users were being paid to show their enthusiasm for the event.
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.
Myntra, having suffered a fourfold increase in its losses this year in India, is now looking at other lands. It has set up a subsidiary, Myntra Inc, which will help its entry into American markets.
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.
Amazon India has just announced that it suffered losses worth Rs. 1728 crore for the year ending March 2015. In comparison, Flipkart had announced losses of Rs. 2000 crore in the same period. Snapdeal’s losses stood at Rs. 1350 crore.