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The government on Thursday said 26 leading e-commerce companies have self-declared that their platforms are free from dark patterns. Zepto, Zomato, Swiggy, Jiomart and BigBasket are among these 26 e-commerce platforms. This is a significant step towards protecting consumer interest in the digital marketplace, the Department of Consumer Affairs said in a statement. As many as 26 leading e-commerce platforms have voluntarily submitted self-declaration letters confirming compliance with the Guidelines for Prevention and Regulation of Dark Patterns, 2023, it added. The Department has been making efforts to curb deceptive online design practices that mislead or manipulate consumers. These 26 e-commerce players have conducted internal self-audits or third-party audits to identify, assess and eliminate any presence of dark patterns. "All 26 companies have declared that their platforms are free from dark patterns and do not deploy any manipulative user interface designs," the statement .
Quick commerce major Zepto on Thursday said that it has raised USD 450 million (about Rs 3,757.5 crore) in a funding round led by the California Public Employees' Retirement System (CalPERS) at a valuation of USD 7 billion. The funding comes nearly a year after its USD 350 million funding round in November last year, which valued the firm at USD 5 billion. We've closed nearly USD 450 million, and most of that is primary. The valuation of the company was USD 7 billion by the time it closed. A couple of investors participated, but the largest cheque individually came from CalPERSWe are considering it a pre-IPO round, and we are hoping to file our IPO soon. We now have approximately USD 900 million of net cash in the bank and are more than well-capitalised for the future, Zepto CEO and Co-Founder Aadit Palicha told PTI. As the firm heads towards public listing, Palicha said domestic ownership within the company will soon increase to 40 per cent in a few weeks, from the current 12 per
The Labour & Employment Ministry on Wednesday inked an initial pact with quick commerce player Zepto for enhancing employment opportunities as well as youth employability on the National Career Service (NCS) portal, an official release said. The Memorandum of Understanding (MoU) was signed in the presence of Union Minister for Labour & Employment Mansukh Mandaviya here. Zepto will provide 10,000 job postings during the MoU duration, creating a predictable and structured pipeline of urban employment opportunities for youth, women, and first-time job seekers, according to the release. Over the past year, the Ministry of Labour & Employment has signed MoUs with several key organisations, including Amazon, Swiggy, Rapido and Quikr Jobs. These partnerships have already mobilised nearly five lakh vacancies on the NCS portal, strengthening employment opportunities for the youth. "The National Career Service (NCS) platform has emerged as a unique bridge between employers and ...
Quick commerce firm Zepto on Tuesday said it has partnered with ClearTax to offer income tax return filing services for its delivery workforce, enabling refunds worth over Rs 1.5 crore to date. As many as 49 per cent of Zepto's delivery partners opted to file ITRs via ClearTax this year, with a significant share comprising first-time filers using a WhatsApp-based, multilingual interface available round the clock, a company statement said. The initiative helps workers to file returns through a chat-led process on WhatsApp in over seven Indian languages with an AI-powered system pre-filling data, computing taxes, and guiding users through deductions and exemptions before electronic filing and instant confirmation, it added. The programme combines digital and on-ground support, including helpdesks at Zepto dark stores, webinars, and telephonic support by ClearTax experts. "Thousands of gig workers across India are missing out on tax refunds due to limited financial literacy. ClearTax'
A large number of Indian businesses working on a global scale are returning home for listing on Mumbai bourses, given that Indian stocks are among the best performers in the world, according to Singapore-based legal experts. Quick-commerce unicorn Zepto and fintech firm Pine Labs are among those that have shifted their holding company from Singapore to India, said experts at Rajah & Tann Singapore (R&T), one of the largest law firms that handled the two Indian-origin companies' move to Mumbai. "Indian stock exchanges are one of the best as valuations are extremely high," said Vikna Rajah in his market trend observation as co-head of R&T's South Asia desk. "The Indian stock market is one of the strongest stock markets in the world for value creation," Rajah told PTI earlier this week. "It is interesting to see prospering cross-border businesses and higher entrepreneurial spirits between Indian and global markets, especially in line with New Delhi's 'Act East' drive focused .