Page 4 - E-commerce Firms

Amazon unveils first electric seaport trucks amid push to slash emissions

The e-commerce giant said it already has eight of those semi trucks in use at the Los Angeles/Long Beach port complex, where every so-called drayage truck must be zero-emissions by 2035

Amazon India's eighth edition of 'Prime Day' event coming up in July

The e-commerce firm stated Prime Day 2023 was the biggest ever Prime Day in India as 14 per cent more Prime members shopped hundreds of thousands of deals compared to Prime Day 2022

Amazon to push cashierless shopping tech into more third-party stores

The company refuted a report by tech site The Information this month that the technology relies on human reviewers in India to watch customers as they shop

Complaint against Flipkart, BigBasket for making employee work on polls day

A complaint has been filed against e-commerce major Flipkart and Tata Group firm BigBasket for allegedly making delivery boys work on the day of voting on April 19 in the state. In the complaint filed before Tamil Nadu state election commissioner B Kothi Nirmalasamy on Wednesday, Chennai High Court lawyer K Narasimhan has stated that despite the state government declaring leave of April 19 for the election day, Flipkart and BigBasket are promising guaranteed delivery of orders even on the day of voting. Narasimhan said that as per government order April 19 has been officially declared a public holiday under section 25 of the Negotiable Instruments Act 1881 to facilitate the electoral process. He said that the Labour Welfare and Skill Development Department of Tamil Nadu has mandated a paid holiday for all employees working in shops, commercial establishments, industrial establishments and IT companies on April 19 to ensure their participation in the democratic process. "Despite the

Remove Bournvita from health drinks category: Govt tells e-commerce sites

The food safety regulator had iterated that 'energy drinks' is permitted to be used for carbonated and non-carbonated water-based flavoured drinks

BFSI, e-com, staffing sectors most vulnerable to employment fraud: Study

The study categorised cases into green, amber, and red classification, where green denoted a smooth hiring path with all candidate details matching verified documents

Flipkart, Swiggy, Blinkit, Zepto witness blockbuster Holi festival sales

The report emphasizes the burgeoning adoption of e-commerce in Tier-2 and beyond cities

Flipkart looking to buy Reliance-backed on-demand delivery co Dunzo: Report

The retail arm of Reliance Industries, which picked up a 26% stake in Dunzo in 2022 for $200 million, has not approved the deal yet, the report added

Skye Air enters into partnership with SMILe to deliver shipments via drones

Logistics solution provider Skye Air on Wednesday said it has entered into a partnership with e-commerce enablement platform SMILe (Shree Maruti Integrated Logistics) for delivery of shipments via drones. The partnership is enable faster order fulfilment in urban areas with the help of Skye Air's autonomous logistics solutions, the company said in a statement. The introduction of drone delivery services will provide Shree Maruti sellers with the ability to offer same-day and next-day deliveries. Moreover, it will also revolutionise the entire delivery process, making it more efficient, eco-friendly, and customer-centric. "Skye Air is dedicated to revolutionising drone delivery and making it a mainstream logistics solution in India, and our collaboration with Shree Maruti is a significant step in that direction," Skye Air Co-Founder & CEO Ankit Kumar said. "With this partnership, we are redefining the future of e-commerce and providing our sellers with a competitive edge in the ...

SoftBank-backed Meesho unveils Valmo to enable low-cost deliveries

Valmo would partner with fulfilment centres across the country. This way, it aims to create a national logistics solution by eliminating entry barriers for local players

Nykaa Q3FY24 results: Net profit increases 106% to Rs 17.5 crore

The company's consolidated revenue from operations grew 22 per cent YoY to Rs 1,789 crore, up from Rs 1,462 crore a year ago and Rs 1,507 crore in Q2 FY24

Amazon stock soars as AI and retail strength power revenue growth

The company joined Microsoft and other tech firms in starting to see results benefiting from their heavy AI investments, while also outlining more spending in 2024 to develop the much-hyped tech

US-based Fidelity cuts SoftBank-backed Meesho's valuation to $3.5 bn

This is a decline of about 29 per cent from the SoftBank-backed company's peak valuation of $4.9 billion

Meesho delists 200,000 products; to reduce visibility of low-rated items

Softbank-backed Meesho on Tuesday said it has delisted nearly 2 lakh products from its e-commerce platform in the last quarter after quality check and plans to reduce visibility of low-rated items by 20 per cent within six months. The company said that quality evaluation was conducted through a comprehensive analysis of customer reviews, ratings and feedback. "Post evaluation, Meesho delisted nearly 2 lakh products in the last quarter alone. Meesho has further invested in the power of artificial intelligence to fortify quality checks while continuously working to improve key word databases and detection capabilities on the platform," the company said. The company further said that it determines quality through customer reviews, ratings and feedback as well as through any reported issues or returns related to the product's condition, functionality, or overall satisfaction. The e-commerce firm largely focuses on small sellers that mostly sell unbranded products on the platform. "Ove

Flipkart may let 1,000 employees go, Swiggy likely to lay off 400

Flipkart is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its initial public offering (IPO), now planned in 2025-2026

R-Day sale 2024: Smartphones, PCs, and electronics fly off e-com shelves

Beginning January 13, e-commerce majors Amazon and Flipkart rolled out their Republic Day sale events in India, with various bank offers and discounts on gadgets and electronic items

Commerce ministry backs import tax cuts on gold bars: Govt officials

"India's customs duty on gold is among the highest globally," said Vipul Shah, chairman of the GJEPC

Udaan's valuation shrinks by 43.5% to $1.7 billion in Series E round

Last year, Udaan raised $350 million in convertible notes and debt from shareholders and bondholders, with no change in valuation

Flipkart eyes profitability ahead of IPO; looks to go public in 1 -2 years

Flipkart Internet, the marketplace arm of the e-commerce giant, recently reported a 42 per cent growth in operating revenue for FY23 at Rs 14,845 crore

Flipkart to reduce its workforce by 5-7% based on performance by April

The Indian e-commerce giant is also about to close $1 billion in financing from Walmart