 "Peerzada Abrar")
Peerzada Abrar
Peerzada Abrar
Peerzada Abrar is a technology and business reporter at Business Standard. He covers the intersection of technology, AI, business and society, and their impact on our lives. This includes tracking top tech firms and startups. He joined Business Standard in 2019 after having worked at The Economic Times and The Hindu, where he covered the entrepreneurship ecosystem, start-ups, new technologies, venture capital, and private equity. A storyteller at heart, he is captivated by the potential of innovation to address global challenges. His narrative spans from resilient communities combating epidemics and natural disasters to groundbreaking initiatives that empower the underserved and transform humanitarian landscapes.
Peerzada Abrar is a technology and business reporter at Business Standard. He covers the intersection of technology, AI, business and society, and their impact on our lives. This includes tracking top tech firms and startups. He joined Business Standard in 2019 after having worked at The Economic Times and The Hindu, where he covered the entrepreneurship ecosystem, start-ups, new technologies, venture capital, and private equity. A storyteller at heart, he is captivated by the potential of innovation to address global challenges. His narrative spans from resilient communities combating epidemics and natural disasters to groundbreaking initiatives that empower the underserved and transform humanitarian landscapes.
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Despite 8% sales growth, Amazon Retail India saw Rs 794-crore loss in FY22
The numbers come amid preparations for Amazon's month-long flagship sale event The Great Indian Festival (TGIF), which starts on September 23
 "Despite 8% sales growth, Amazon Retail India saw Rs 794-crore loss in FY22")
Amazon Seller Services reports Rs 3.6K-crore loss; revenue up 32%
E-commerce firm's units for digital payments and selling cloud service report losses too for FY22
 "Amazon Seller Services reports Rs 3.6K-crore loss; revenue up 32%")
Live commerce to virtual try on: Flipkart revamps app to woo customers
Introduces Image Search, Live Commerce, and Virtual try-ons for a better discovery experience for customers
 "Live commerce to virtual try on: Flipkart revamps app to woo customers")
Myntra creates 16,000 jobs to cater to surge in festive season demand
The ramp-up includes the addition of over 6,300 personnel to fulfil demand across first- and mid-mile delivery and 3,000 personnel to cater to last-mile delivery
 "Myntra creates 16,000 jobs to cater to surge in festive season demand")
Now, book a bus ride in Gurugram on Uber; service in other cities soon
This pilot will start with Gurugram CNG AC buses on the top-two routes during peak commute hours
 "Now, book a bus ride in Gurugram on Uber; service in other cities soon")
Organic dairy firm Akshayakalpa raises $15 million to expand across India
Akshayakalpa plans to invest in Bengaluru, Chennai, and Hyderabad markets, and expand into new geographies of Pune, Mumbai and Kochi
 "Organic dairy firm Akshayakalpa raises $15 million to expand across India")
E-commerce giants may clock $11.8 bn in gross festive sales: Redseer
The massive growth in festive sales will further push the overall online retail GMV (gross merchandise value), which stood at $52 billion in 2021, to grow by 30 per cent to reach $68 billion in 2022
 "E-commerce giants may clock $11.8 bn in gross festive sales: Redseer")
Onboarding of e-commerce giants crucial to ensure success of ONDC
There are also players such as Google and Reliance-backed Dunzo, Paytm, PhonePe and Reliance Retail-owned last-mile logistics company, Grab, which are joining ONDC to provide various services
 "Onboarding of e-commerce giants crucial to ensure success of ONDC")
Flipkart launches Flipkart Hotels for domestic, international market
Flipkart Hotels will provide customers with the opportunity to book hotel rooms across 300,000 domestic and international hotels
 "Flipkart launches Flipkart Hotels for domestic, international market")
Flipkart launches hotel-booking service, sees travel industry gaining
Flipkart Hotels will provide room bookings at 3 lakh domestic and international hotels. It will offer customers services like flexible travel and booking-related policies, and easy EMI options
SoftBank, others in talks to lead $75-million funding in GoMechanic
"The conversations between the investors and GoMechanic are still going on and one of the investors has also shared the term sheet with the firm," said a person familiar with the development
 "SoftBank, others in talks to lead $75-million funding in GoMechanic")
Unacademy launches 50 new channels to democratise online education
Unacademy recently said that it has been focusing on frugality as its core value
 "Unacademy launches 50 new channels to democratise online education")
BigBasket co-founder Abhinay Choudhari launches tech-led laundry service
BigBasket co-founder Abhinay Choudhari has launched LaundryMate as his next venture aimed at solving the household laundry chore and tapping a $15 billion opportunity by 2025
 "BigBasket co-founder Abhinay Choudhari launches tech-led laundry service")
Profits elusive for Amazon India despite $6.5 bn investment: Bernstein
Company faces 'immense competitive pressure' and unfavourable regulatory environment, says US research group
Profits elude Amazon India despite $6.5 billion investment: Bernstein
Faces 'immense competitive pressure' and 'unfavourable regulatory environment', says US research group
 "Profits elude Amazon India despite $6.5 billion investment: Bernstein")
Unacademy CMO Karan Shroff quits firm year after being made partner
CEO recently said edtech unicorn may see a funding dry spell for at least 12-18 months and it would cut costs
 "Unacademy CMO Karan Shroff quits firm year after being made partner")
eB2B share of $1.2 trn B2B general trade mkt to be $100 bn by 2030: Redseer
Among eB2B players, Udaan is emerging as the clear leader, followed by Reliance's JioMart
 "eB2B share of $1.2 trn B2B general trade mkt to be $100 bn by 2030: Redseer")
WhatsApp-JioMart to help RIL take on Amazon and Flipkart, experts say
Experts say the partnership will give JioMart access to over 487 million WhatsApp users in India. Experts say that the total annualised active e-commerce users in the country are only 200 million.
 "WhatsApp-JioMart to help RIL take on Amazon and Flipkart, experts say")
Ahead of festive season, Amazon, Flipkart scale-up facilities across India
E-commerce firms such as Amazon, Flipkart, and others witnessed blockbuster festive season sales of about $9.2 billion last year
 "Ahead of festive season, Amazon, Flipkart scale-up facilities across India")
Flipkart's social commerce arm Shopsy hits 100 mn users ahead of timeline
Top exec says about half of Shopsy's customers are new to e-commerce, market is large enough to onboard another 100 million users by next year on Shopsy
 "Flipkart's social commerce arm Shopsy hits 100 mn users ahead of timeline")