The average order value for Flipkart stood at Rs 1,976 versus Rs 1,461 on Amazon, indicating that customers bought higher-value items from the Walmart-owned marketplace. Flipkart led with 64% share of the combined gross sales while Amazon continued to fare higher in net promoter score (NPS). NPS measures the loyalty of customers to a company.
India has been actively pushing for a shift to electric vehicles in its pursuit to bring down oil imports and curb pollution. The intent is to electrify all new vehicles by 2030 and the government is asking auto manufacturers to draw up plans for that, in line with its commitment to the Paris Climate Change Treaty.
Gurugram-based Milkbasket said it was scaling down operations in select localities in Bengaluru and Delhi NCR — its two largest markets. DailyNinja, which counts Matrix Partners and Sequoia Capital as investors and has raised about $10 million, is looking for a buyer
Kalanick is building a team to drive his new venture, City Storage Systems, which runs delivery-only kitchens.
Both mobility platforms are expected to bank on bike taxis and rentals to shore up ride numbers.
Earlier this month, Uber restructured and moved its entire India business – which partially operated from Netherlands under Uber BV – to the India-domiciled Uber India Systems. This is Uber’s first such restructuring since 2014.
In the previous financial year, Flipkart Group’s total revenue increased by 50% to Rs 30,644 crore.
The transaction is believed to have valued ShopClues at $70-$100 million, it was valued at $1.1 billion in late 2015.
The CCI had initially deemed the deal as invalid after ANI Technologies failed to provide details of the impact of the proposed combination on competition in the ride-hailing space. A modified proposal was then filed in September.
ElasticRun will invest freshly raised capital to further build its technology platform, expand categories, and expand its network coverage to new geographies, its cofounder Sandeep Deshmukh said.
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