The food delivery sector is on course to hit $1.5 billion by the end of 2018 and $2.5-3.5 billion by 2021 in GMV terms. Written By Sulekha Nair With Swiggy getting $100 million in funds and Zomato $200 million a week ago, the food delivery sector seems to be poised for growth again after a bleak couple of years. From the latter half of 2015 through to 2016 and also the first half of 2017, a number of food-tech startups shut down. Remember TinyOwl, SpoonJoy, Eatlo among others? But the industry emerged with new learnings on account of several startups…
CONTINUE READING
Written By Deepti Govind Bengaluru: Wholesale retailer Metro Cash and Carry Pvt. Ltd, plans to aggressively promote its own brands to the hotels, restaurants and cafรฉs (HORECA) industry, its fastest-growing customer base, as it targets doubling of revenue contribution from in-house labels. Source: livemint
CONTINUE READING
Written By Sagar Malviya & Shambhavi Anand, ET Bureau MUMBAI/NEW DELHI: About two months ago, Future Group founder Kishore Biyani visited China to understand shopping behaviour during Singles Day, the biggest shopping festival in the world's most populous country. Biyani was part of the star-studded event that Jack Ma, the founder of Chinese e-commerce giant Alibaba hosted in Shanghai and included guests such as actress Nicole Kidman, singer Pharrell Williams and local celebs for its Singlesโ Day sales extravaganza. The next day, Alibaba saw its sales hit new record of $25.3 billion. Biyani wants to mimic that in India. "While…
CONTINUE READING
Written By Alnoor M Peermohamed The move could mean that many startups would have major tax liabilities as the money they spend on marketing activities will no longer be considered a cost to the company Consumer technology startups that spend a lot of money on buying customers through discounts and advertising could be in for a rude shock as the Income Tax department could ask them to begin classifying their marketing expenses as capital expenditure. The move could mean that many startups would have major tax liabilities as the money they spend on marketing activities will no longer be considered…
CONTINUE READING
Softbank, the single largest investor in Didi Chuxing in China, Ola in India and Grab in Southeast Asia, has backed local players for growth over Uber in each of these markets Written By Karan Choudhury & Alnoor Peermohamed A comment made by Rajeev Misra, a board member of Softbank and about to join the Uber board, triggered a strong buzz on Friday that the Travis Kalanick-founded ride hailing firm may step off the pedal in India. Talks of a possible merger between Ola and Uber, with Softbank as the common investor, also did the rounds. With the formal closing of…
CONTINUE READING
