Walmart-backed Indian e-commerce firm Flipkart has held discussions over potentially acquiring the on-demand delivery platform Dunzo, TechCrunch reported on Tuesday, citing three people familiar with the matter. While talks are still ongoing, complexities surrounding Dunzo’s ownership structure have impeded the two parties from coming to an understanding over a deal,…
Tainted eyedrops yanked from pharmacy shelves over fears they could cause infections and even blindness were made in a factory in India where workers walked around barefoot and safety test results were faked, according to an explosive report. The 26 over-the-counter products — sold as store brands at retailers including…
Indian e-commerce startup Meesho has posted its first-ever profit and is targeting a stock market listing in the next 12-18 months, a senior company executive said in an interview. Meesho competes with Amazon and Walmart‘s Flipkart in India’s fast-growing e-commerce market, with its website becoming popular by targeting smaller towns and cities with…
China’s Xiaomi will focus on boosting its India sales from retail outlets after years of big bets on e-commerce, its India president said, as the company seeks to revive smartphone sales after falling behind South Korea’s Samsung. E-commerce sales in India via Amazon and Walmart‘s Flipkart have surged in recent…
The Indian government’s open e-commerce network ONDC has expanded its operations into 236 cities in the country while adding more than 36,000 merchants, a senior company official said on Thursday. The government launched the Open Network for Digital Commerce (ONDC) last year to give small businesses and retailers access to…
Commerce and Industry Minister Piyush Goyal on Tuesday invited all big and small retailers to join the government-promoted Open Network for Digital Commerce (ONDC), as it would help in creating huge opportunities for everybody. ONDC aims to promote an open platform for all aspects of e-commerce retail. It would help…
Walmart-owned Indian payments firm PhonePe on Wednesday said it had raised an additional $100 million (roughly Rs. 820 crores) from General Atlantic and other investors as part of its ongoing $1 billion (roughly Rs. 82,063 crores) fundraising to expand into the lucrative lending space. With the latest round, PhonePe, India’s…
Indian digital payments firm PhonePe said on Friday it has raised $200 million (nearly Rs. 1,650 crore) from majority backer Walmart at a pre-money valuation of $12 billion (nearly Rs. 99,000 crore). PhonePe, already India’s most valuable payments firm and among the country’s most highly-valued startups, said the investment is part…
Brave bystanders lept into action Thursday to stop a woman from kidnapping a child from a Colorado Walmart, police said. Shoppers restrained alleged kidnapper Kimberli Jones, 50, until police arrived, the city of Alamosa said. Jones allegedly snatched “a young child” from a shopping cart inside a Walmart just before…
Mass layoffs are plaguing more than just the Big Tech industry. On Sunday, former Walmart CEO Bill Simon joined “Fox & Friends Weekend” to warn Americans of the detrimental impact that corporate layoffs could have on the U.S.’s feeble economy. “It’s crazy right now. We’re stuck in this loop of wage inflation,…
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