Nike, the sportswear maker based near Beaverton, Oregon, has launched its first running shoe designed specifically for India. The shoe, called the Vegam Run, costs $40 at current exchange rates. It goes on sale November 1 on Flipkart, India's e-commerce marketplace, and at select retail outlets, according to The Economic...
Netflix Adds More Paying Members in India Than in Any Quarter Before
Netflix, based in Los Gatos, California, added more paying members in India in the quarter ending September than in any quarter before it. The streaming company said so in its shareholder letter on October 20, as Business Standard reported. Revenue in India grew 18% from a year earlier on a...
Amazon Doubles Down on India’s Quick-Commerce Market
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...