Amazon has agreed to acquire Indian buy now pay later startup Axio, deepening its push into financial services in one of its fastest-growing markets as it seeks to expand credit access to millions of underserved customers. The US technology group, which has held an equity stake in Axio for six years, signed the acquisition agreement […]
Amazon to acquire Indian fintech Axio in credit push Read More »
Amazon on Tuesday said it is piloting a quick commerce service in India that will see the U.S. tech giant deliver grocery and other items to customers in the world’s most populous nation in 15 minutes or less. The American firm is the sixth major entrant to the Indian quick commerce market, which is currently
Amazon pilots quick commerce service in India Read More »
Meesho has become India’s first horizontal e-commerce firm to generate positive cash flow, marking a significant shift in a market where profitability has long remained elusive even as new competitive threats emerge. The SoftBank and Prosus-backed startup, which serves customers in smaller Indian cities and towns, reported positive operating cash flow of ₹232 crores ($27.6
Meesho claims Indian e-commerce first with positive cash flow Read More »
Amazon has named long-time executive Samir Kumar as the new head of its India consumer business, following an abrupt leadership change in one of its key markets last month. Kumar, who has been with the e-commerce giant for 25 years, will assume the role of Country Manager for India, the company said. This appointment comes
Amazon taps veteran to lead India business as competition intensifies Read More »
Indian antitrust regulator has found that Amazon and Flipkart, owned by Walmart, violated local competition laws, according to a report. The finding presents a new challenge for the e-commerce giants in a market where online retail growth remains modest at under 15% and quick-commerce is increasingly snatching business from Amazon India and Flipkart. The Competition
Amazon and Flipkart violated competition laws in India, report says Read More »
India’s commerce minister Piyush Goyal on Wednesday expressed concern over the rapid growth of e-commerce in the country, warning of potential disruption to small retailers. Speaking at the launch of a report on the impact of e-commerce on employment and consumer welfare in India, Goyal said the projected dominance of online marketplaces in the coming
India’s trade minister decries e-commerce growth, Amazon’s ‘predatory’ pricing Read More »
Amazon is considering shifting its payments offerings in India into a standalone app, three sources familiar with the matter told TechCrunch, as the e-commerce giant aims to boost usage of Amazon Pay in the country. Amazon Pay is currently housed within the company’s primary e-commerce app in India, and lets users transfer money to individuals
Amazon considers moving Amazon Pay into a standalone app in India Read More »
About two years ago, a VC firm was evaluating an investment in a quick-commerce startup in India. The company’s instant delivery model was showing signs of success in the South Asian market, even as many startups in the space were struggling in developed markets. But the firm was wary: Could Amazon swoop in and dominate
Amazon is fumbling in India Read More »
India’s fast-growing quick commerce market is getting a new deep-pocketed entrant: Walmart-owned Flipkart, India’s largest e-commerce firm. Flipkart has started to roll out Flipkart Minutes, its quick commerce service, in parts of Bengaluru. The new service offers customers the ability to have a wide range of items, from grocery to smartphones, delivered to them within
Flipkart blitzes into India’s 10-minute quick delivery battle Read More »
Even as quick commerce startups are retreating, consolidating or shutting down in many parts of the world, the model is showing encouraging signs in India. Consumers in urban cities are embracing the convenience of having groceries delivered to their doorstep in just 10 minutes. The companies making those deliveries — Blinkit, Zepto and Swiggy’s Instamart
Can quick commerce leapfrog e-commerce in India? Read More »
