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Flipkart invests Rs 3,463 Crore ahead of the festive sale

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Flipkart invests Rs 3,463 Crore ahead of the festive sale

Before the beginning of the most-awaited sale by the E-commerce giant, Flipkart has received more than $475.75M (approximately Rs 3,462 Crore) from Flipkart Marketplace, Singapore. This is the first major investment done by Flipkart after Walmart bought a majority of stake in the online platform.

The funding will huge support Flipkart to speed up its business and to give tough competition to Amazon. Flipkart is also looking to add more partnerships and increase its collection of products in the next few months.

One of the major parts of this investment is increasing Flipkart’s authority in the online phone sales, with heavy discounts on smartphones than ever before. Ayyappan Rajagopal, senior director at Flipkart said, “Last year during the festive season, Flipkart accounted for one in three smartphones sold in the country.” He added, “This year, we are aiming at 50% share of all smartphones sold in the one month leading to Diwali starting with Big Billion Days.”

Also Read: Oil Companies in India want to replace Coal with LPG in Tea Production

E-Commerce Giants are ready for Festive Season

In 2018, Flipkart’s Big Billion Days are expected to start from October 9-10 during Navratri. Online sales hold one-third of the overall smartphone market. As per Hong Kong-based Counterpoint Research, Flipkart has 54% of online sales in the 1st quarter and Amazon has 30% of online sales.

Harish HV, who is a former partner at professional services firm Grant Thornton said, “Flipkart will use this money to promote the upcoming sales as they plan to go aggressive on it.” He added, “They are also planning to go deep into grocery, ticketing and have also been talking about pharmacy. Even Amazon is looking at grocery in a very serious way.”
Flipkart is going to invest $263 million in the grocery sector in the next three years. The firm has already opened a supermarket in Bengaluru and it’s planning to expand its services in other cities.

Amazon has invested $1 Billion in the main marketplace unit Amazon Seller Services in 2018, with the recent capital investment of Rs 2,700 crore in August.

In 2017, E-commerce has observed the highest sales performance in the 5 festive days from September 20-24. According to RedSeer analysis, the industry managed to create $1.5 Billion sales in 2017, which is 40% more than 2016.

Read More: Private, Non-Bank Lenders market share increases in MSME Loans

Flipkart has lastly invested Rs 370 crore from Singapore-based Flipkart Marketplace in January and then invested Rs 1.7 crore in the same year. Apart from this, Flipkart has made a huge investment in logistics arm eKart and payments firm PhopePe.

Rajagopal stated that Flipkart wants to influence offline shoppers by providing deep discounts on all products along with offline leading brands such as Samsung, Oppo, and Vivo. Discounts will be certainly higher than last year.

He said, “Of the new launches, 14 models will be in the Rs 5,000 to Rs 15,000 segment, which is the biggest belly of the market, accounting for 85% of total unit sales.” Further added, “We have also tripled our inventory and planned it in such a way to avoid stock-out situation altogether.”

Walmart has acquired 77% stake in Flipkart at $16 Billion and Amazon has committed to invest $5 Billion in India. Hence, both the E-Commerce giants are ready to give tough competition to each other to win the race.

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Delivery Startup DailyNinja acquires Hyderabad-based WakeUpBasket

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Delivery Startup DailyNinja acquires Hyderabad-based WakeUpBasket

Bengaluru-based delivery startup DailyNinja has acquired Hyderabad-based WakeUpBasket in cash and equity deal as the firm wants to expand its services in the city.

Similar to DailyNinja, WakeUpBasket also offers early morning delivery of household products such as milk and groceries along with various other products. The latest acquisition comes just after DailyNinja has acquired 4amShop just a few months ago. From this, it seems that the firm is constantly thriving to expand its services in different cities across India.

WakeupBasket was founded by Satendra Pratap along with Sai Varaprasad in 2016. The startup completes around 2,500 orders per day in Hyderabad. WakeUpBasket has been functioning since last two & a half years in Hyderabad. After this acquisition, all the employees along with founders will shift to the DailyNinja platform.

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Anurag Gupta, Co-founder of DailyNinja said, “Both of these acquisitions have helped us in scaling fast and understanding the local market. We loved the execution skills and passion of WakeUpBasket’s founding team, thus made them Hyderabad City heads and a part of our core team.”

DailyNinja was founded by Sagar Yarnalkar and Anurag Gupta. The firm offers early delivery of everyday products. The firm currently reaches to around 40,000 households daily and has 55,000 subscribers.

Anurag further said, “We are growing at 20% MoM. This has been made possible by launch in three new cities – Chennai, Mumbai and Pune where we are seeing excellent response. We are looking to reach 20,000 daily transactions from Hyderabad in the next six months, as we currently stand at 5000 transactions a day.”

The latest acquisition by DailyNinja has acquired by two sequential rounds of funding. One was $3M in June and then obtained undisclosed amount of funding from venture capital Matrix Partners. The firm main goal is to implement its business model in different cities across India and reach over 1.5 lakh people in the next six months.

Also Read: Foodpanda to seize 2 lakh sq ft working space in Delhi

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Flipkart teams-up with Bajaj Allianz to provide mobile insurance

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Flipkart teams-up with Bajaj Allianz to provide mobile insurance

E-commerce giant Flipkart on Sunday said it entering into the insurance segment after securing a corporate agent license.

“Flipkart has teamed up with Bajaj Allianz General Insurance to provide customized insurance solutions to power our complete mobile protection programme for all leading mobile brands sold on our platform with Bajaj Allianz,” said Flipkart in a statement.

In the latest initiative, it will provide both cash payout or free pick up, service and drop convenience to customers.

The mobile insurance plan will be valid for a year. The plan will cover accidental screen, liquid damage, and theft for phones. For claims, customers will either have to return the phone for fixing or choosing for a cash payout which will be deposited in his/her bank account.

The complete mobile protection plan starts at Rs 99 and it will be activated from the day on which device is delivered. The insurance plan for the customers will be available from October 10, the same day on which The Big Billion Day starts.

Also Read: Zomato leads in food delivery space with 21 million monthly order run rate

“Insurance is the next initiative in offering customers with excellent after-sales care for their phones. The plan, from purchase to claim, will be completely incorporated into our online platform,” said Ravi Garikipati, who is the senior vice president and head of Fintech.

As per one report, there are about 36% of mobile phone users in India which possess smartphones. As per IDC, the smartphone market in India will reach double-digit growth in 2018.

Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance said, “Bajaj Allianz General Insurance has always been at the forefront in exploring new avenues for our customers and being there for them wherever they are, and this partnership with Flipkart is a step in that direction.”

According to the financial year 2017-18, Flipkart’s Gross-Merchandise Value (GMV) is $7.5 billion and net sales of $4.6 billion, showing 50% year-on-year growth.

Also Read: Indian IT Industry revenue will reach $167 billion in financial year 2018-19

Flipkart consists of one-lakh sellers and it offers 80 million products in 80 categories, along with smartphones, electronics, sports goods, fashion, furniture, etc.

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Gurgaon based Burger Singh plans to launch 40 new franchise stores

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Gurgaon based Burger Singh plans to launch 40 new franchise stores

Burger Singh is one of the popular fast food restaurants in the New Delhi NCR. It is also the largest chain of homegrown Indian flavour burgers in the QSR category, declared today its plans to provide investment in forty franchises for shop owners across the country.

The investment model which is also referred to as franchise-owned-company-operated is simple and provides guaranteed returns for shop owners with just shop set-up investment. The branch is growing at a rate of 600% YoY with an effective presence in North and West India with 23 outlets is welcoming new franchises in order to expand its services.

Kabir Jeet Singh said, “We are looking to target shop owners only right now. The idea fits our vision to make Burger Singh synonymous with QSR globally. Having established a strong foothold in the Northern and Western region of the country, the franchise model makes sense to expand the business further. It is a win-win for all involved since we get the space, and the shop owners get guaranteed returns on their investment.”

He further added, “Along with the benefits to shop owners, Burger Singh will ensure the highest quality and standards are met and maintained in all upcoming franchises. Our customers are the top priority and there are no compromises there.”

Also Read: Alibaba planning to bring its new retail concept in India

About Burger Singh

Kabir Jeet Singh along with its partner Nitin Rana launched Burger Singh in 2014. The Gurgaon based startup has quickly expanded into a chain of quick service restaurants (QSR) with 25 outlets – 20 in Delhi NCR, one in Dehradun, Pune and Nagpur and 2 in the UK.

Burger Singh specialties include vegetarian Keema Pao, the Pao Bhaji Burger, Malabar Express Chicken Burger & Channa Burger for the vegetarians, Amritsari Murgh Makhani Burger, Jaatputt Chicken Burger, Udta Punjab Burger, Bunty Pappeh Da Aloo Burger and the United States of Punjab Burgers in both vegetarian & non-vegetarian options, amongst others.

It was launched with an investment of 1 Crore, put in by the founders, their families, and friends, the startup has obtained Rs 7.5 Crore in two rounds of funding, one in October 2015 and other in December 2016. Funding has helped the startup to launch new restaurants in different cities across India.

The main purpose of the company is to build the technology to manage the company’s supply chain, and fluent communication between vendors, employees, and customers were some of the main challenges of Burger Singh. Burger Singh was awarded the Most-admired Food Services Chain 2017 in QSR category by India Retail Forum and Best Emerging QSR Chain 2017 by the Indian Restaurant Congress.

Also Read: Govt plans to mix Methanol with LPG to cut subsidy bill by 30%

What are the future plans of Burger Singh?

The Startup currently has a staff of 370 members, gained Rs 9 Crore in revenue in 2017-18 and it is optimistic to tripling its growth by 2018-19. Singh said, “We are expecting a three-fold growth and seek to increase Burger Singh’s outlet count to 38 by the end of this financial year. The idea is to do to the burger space what Domino’s did to the pizza market.” The firm has also signed a contract to launch 18 outlets in the UK, two of which are already started.

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