Amazon plans to invest $3 billion to expand its India quick-commerce business by 2030, according to The Economic Times, its largest commitment yet to a delivery category where it has trailed local rivals for years. The plan calls for $1 billion by the end of 2027 and another $2 billion by...
Accel Puts Another $550 Million Behind India, With AI in the Crosshairs
Accel''s India fund wrote an $800,000 seed check into Flipkart, an Amazon look-alike, at a $4 million post-money valuation — the company's first institutional money — and held its position through Walmart's 2018 acquisition of a roughly 77% stake for about $16 billion, a deal that valued Flipkart north of...
India’s Bizongo Secures Funding from LA investor, others
Bizongo, an AI-powered B2B e-commerce platform, announced the appointment of Prahlad Krishnamurthi as its new Chief Executive Officer, effective immediately. Krishnamurthi replaces company founder Sachin Agrawal, who will remain on the board while the new CEO takes over operational leadership. The Bangalore-headquartered company has simultaneously secured $4.5 million in additional...
Amazon Boosts Indian Exports to $5 Billion
Amazon's Global Selling program is set to significantly boost Indian exports in 2024, with the e-commerce giant expecting to facilitate $5 billion in sales of small-ticket items from Indian exporters to international markets such as the U.S. and UK. This marks a substantial increase from the nearly $3 billion in...
India’s e-Commerce Industry Poised for Massive Growth
India's e-commerce market is expected to reach over $160 billion by 2028, up from an estimated $57-60 billion in 2023. Online retail has accelerated after COVID-19, with the market expanding by $8-12 billion yearly since 2020, according to the How India Shops Online 2023 report by Bain and Co., in...
Walmart Buys Out Tiger Global’s Stake in India’s Flipkart
Walmart paid $1.4 billion to buy out hedge fund Tiger Global’s remaining holding of Flipkart shares as the retail giant further expands its stake in the Indian e-commerce startup. Besides Tiger Global, Flipkart co-founder Binny Bansal along with Palo Alto, CA-based private equity firm Accel, one of the earliest investors...