Page 6 - Tech Firms

30% rise in tech firm's e-commerce platforms sales in early festive season

E-commerce platforms during the first week of festive season are estimated to have registered 30 per cent growth year-on-year, inventory and warehouse management tech firm EasyEcom said on Wednesday. EasyEcom said that e-commerce volume will grow more in Tier-2 and Tier-3 towns compared to Tier-1 cities, with non-metros driving nearly 80 per cent of the total e-commerce sales along with Tier-2 towns adding about 60 per cent to the figure. "The first week of the festive sales across e-commerce platforms in India will exceed the gross merchandise value on non-sale days by five times, projecting a figure which will be around 1.3 times up from last year," EasyECom said. The company said that its analysis is based on data captured by its software-as-a-service platform which focuses on omnichannel inventory & warehouse management and reconciliations. The company has seen a 14 per cent growth in product lines on e-commerce platforms. "The subdued performance of the first quarter due to .

True North acquires minority stake via own fund in Accion Group for $93 mn

Accion Labs is focused on digital transformation in global enterprises and tech firms. It has more than 4,800 employees globally, spread over 20 locations

Sebi has no business to suggest IPO pricing of new-age tech firms: Chief

Sebi chairperson Madhabi Puri Buch on Tuesday said the capital markets regulator has no business to suggest pricing of the initial share sale of new-age technology companies. She, however, quickly added that there needs to be more disclosures by companies on how valuations have changed between a pre-initial public offering (IPO) placement and the price which is being asked for in the issue. "A lot has been said about the pricing of IPOs of tech companies at what price you choose to do the IPO is your business, we have no business to suggest otherwise," Buch said addressing the annual Capital Markets summit organised by industry lobby Ficci here. Buch, the career-banker-turned-regulator and the first woman chair of Sebi, explained through an example of a company selling shares to investors at Rs 100 and then asking for Rs 450 in an IPO within a few months. She said a company is free to ask for a higher price, but needs to disclose what happened in the intervening period which justif

Sachin Bansal-led Navi Tech gets Sebi green signal for Rs 3,350 cr IPO

The firm provides digital-first distribution of personal loans, home loans and health insurance to customers without the need of physical infra

Tech firms, telcos in India urge central govt to control internet shutdowns

The government in 2019 had said emergency internet shutdowns were a matter for states in the interest of law and order

Profits elusive for Amazon India despite $6.5 bn investment: Bernstein

Company faces 'immense competitive pressure' and unfavourable regulatory environment, says US research group

Linktree sacks 17% of employees in latest round of tech pink slips

With a reported 300-strong workforce, the mass layoff amounts to about 50 staff members

US retailer Macy's tech expense cut likely to hurt Indian IT giants

Macy's is among the first US retailers to announce spending cuts

Sooner or later, US recession will come knocking at India's tech-hub door

India's tech industry is ruling out a US recession. Or so you would think from Infosys Ltd.'s cheery forecast of 14 per cent to 16 per cent annual revenue growth

Gaming industry seeks govt intervention against tech giants' unfair policy

The skill-gaming industry has sought the intervention of the government to rein in the arbitrary policies of the monopoly global tech-giants

Facing unfair competition from global tech giants, says domestic players

Top executives of 8 domestic tech firms, including Paytm founder Vijay Shekhar Sharma and OYO's Ritesh Agarwal, deposed before a parl panel and said they face unfair competition from big tech firms

Parliamentary panel to meet tech firms representatives today amid concerns

Amid concern over anti-competition, the Parliamentary Panel on Finance will meet tech firm representatives on Thursday

How the Right to Repair rule can cut short your visit to the service centre

The tech and auto industry expects the 'Right to Repair' policy to provide recognition to the largely unorganised third-party repairs sector through increased availability of original spares

HDFC Life invests in 'Z3Partners Tech Fund' to aid digital entrepreneurs

Z3 Partners has already backed startups like Cyfirma, DealShare, Gramophone, Shipsy, and True-Fan

ClimateTech firm Climes raises $1.2 mn seed capital from Sequoia, others

The company's tech allows consumer-facing brands to turn climate-positive in a matter of hours. Its tech-stack integrates seamlessly with the checkout pages of everyday consumer brands

Big tech firms offering financial services pose risk to stability: RBI

Big techs can scale up rapidly and pose risk to financial stability, which can arise from increased disintermediation of incumbent institutions, it noted.

Tech firms vouch to support employees after Supreme Court's abortion ruling

Google's chief people officer Fiona Cicconi sent an email to employees, saying that Googlers can "apply for relocation without justification"

Travel technology firm Egencia announces development centre in Gurgaon

The facility will focus on travel management, engineering, e-commerce, and used for technology support.

Over 15K tech sector workers lost jobs in May globally, says report

More than 15,000 people working in the technology sector lost their job in the month of May globally, as global macro-economic factors hit companies, a report said

Consumer sector deals rise in January-March quarter amid consolidation

Tech-focussed firms driving interest