US banks Morgan Stanley and Goldman Sachs had upgraded the market size to $70 billion in 2015 and $120 billion in 2016 and haven’t revised their projections.
The fashion community and e-commerce platform started in 2013 pivoted from being a hyperlocal discovery platform to an influencer-led fashion commerce platform where buyers can shop the look and complete the transaction on the platform.
"We will provide our sellers technology solutions for ease of compliance,” said Anil Goteti, vice president and head of marketplace at Flipkart.
Snapdeal has been in talks recently with existing investor SoftBank to raise money at a valuation of $3-4 billion, according to people aware of the negotiations.
The kids fashion vertical grew 2.5x in 2016 in terms of the units sold, though exact numbers were not disclosed by Amazon India.
For the December quarter, Amazon's International business posted an operating loss of $ 487 million, up significantly from $ 108 million in the year-ago period.
Net sales for the international business went up by 18% to $13.96 billion during the fourth quarter. In the third quarter of 2016, Amazon's international unit had reported a $541 million loss primarily due to spends in India.
The deal is expected to lead to a shakeout in the sector, which has witnessed a tough battle between Flipkart, Amazon and Snapdeal.
Unless there is a flag on the seller about a fraud or abuse by the copyright owner, online marketplaces don't delist products.
In fiscal 2015-16, Zivame registered an 84% increase in losses to Rs 54 crore on revenue of Rs 62 crore, according to filings with the Registrar of Companies. It had an inventory of Rs 40 crore.
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