SNAPDEAL
Unicommerce IPO at $130 million valuation: check price band, dates and more
Unicommerce Esolutions Ltd announced a price band of Rs 102-108 for its IPO starting August 6, and listing on August 13. The IPO involves selling up to 25.6 million shares, with SoftBank and AceVector Group as key sellers.
Unicommerce files RHP for IPO; SoftBank, AceVector to offload 25.6 million shares
Unicommerce Esolutions from Gurgaon has filed for an IPO with an offer for sale of 25.6 million shares. SoftBank and AceVector Group are selling their stakes, while B2 Capital has opted out. The company recently expanded its board with Manoj Kohli, Ullas Kamath, and Sairee Chahal as independent directors.
States lure Tesla component suppliers; bumper exit for Snapdeal founders
Happy Thursday! Tesla’s suppliers are looking for locations to double down on their India operations. This and more in today’s ETtech Morning Dispatch.
SoftBank-backed FirstCry, Unicommerce get IPO Nod
SoftBank, Bahl, and Bansal, with an indemnity pact, face losses as FirstCry's online sales dominate, impacting revenue negatively.
SoftBank gets promoter tag in Unicommerce’s IPO filing
SoftBank, Kunal Bahl, and Rohit Bansal tagged as promoters by Unicommerce board with signed indemnity agreement.
SoftBank gets promoter tag in Unicommerce’s IPO filing
Unicommerce Esolutions has tagged SoftBank, Snapdeal cofounders Kunal Bahl and Rohit Bansal as promoters in an addendum to its draft IPO prospectus, expanding the list of promoters from the original filing with only AceVector Ltd named. SoftBank, Bahl, and Bansal signed an indemnity agreement to protect themselves from liabilities as promoters of Unicommerce.
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Anuj Rathi to take over as CEO of Flipkart-owned Cleartrip
Flipkart is seeing another set of top-deck changes, as it ropes in Anuj Rathi as the new CEO of its travel booking unit Cleartrip, while top executives Prabh Simran Singh and Sankalp Mehrotra are exiting the firm.
Govt needs to boost financial support to startups: Snapdeal founder
Conversations over boosting supply of capital to homegrown startups have come at a time when the startup ecosystem is experiencing a major slowdown. According to Infosys cofounder S Kris Gopalakrishnan, there is significant wealth in the country and family offices or fund managers should allocate at least 15% of their investments to the startup ecosystem as a thumb rule.
Boom in e-commerce opens door for multiple jobs at all levels
The e-commerce industry is booming due to increased smartphone and internet access, offering a plethora of job opportunities. Evolving consumer behavior and technology advancements are driving this growth, with a projected surge in India's online consumer base. The sector demands a wide range of skills, from tech-related roles to digital marketing and content creation.
D2C space: Investments in "not my parents' brands" are #trending
Investors like Titan Capital are shifting focus to Gen Z brands, moving away from traditional brands. This trend is visible in brands such as Perfora, Wakefit, Hocco and Mokobara across various sectors, reflecting the changing consumer behaviour towards new and innovative products. The phenomenon of Gen Z consumers not using their parents' brands is visible in even sectors such as automotive and smartphones.
Surat to Jammu, diverse customer profiles coming through ONDC: Snapdeal’s Himanshu Chakrawarti
Snapdeal’s focus on value e-commerce appears to be doing well with its collaboration with ONDC as it sees a majority of customers from smaller towns and tier-2, 3 cities.
Government push to help ONDC get shopfront on ecommerce sites
The Centre has asked Amazon and Flipkart to set up Open Network for Digital Commerce (ONDC) storefronts on their home pages to help the government-backed network scale up operations and assist with deliveries, said executives aware of the development. The aim is to boost operations and order efficiencies as well as iron out glitches and delays on ONDC, they said.
Do you consume protein supplements for health gains? Snapdeal's Kunal Bahl has a serious warning for you
A recent study exposes alarming findings about protein supplements, uncovering mislabeling, toxin contamination, and potential health risks. Led by researchers from Rajagiri Hospital in Kerala and a US-based tech entrepreneur, the study highlights the urgent need for stricter regulation in the supplement industry. Misleading labels and harmful toxins pose significant health hazards, prompting caution among consumers. The study's revelations underscore the importance of informed decision-making and regulatory reform to ensure product safety.
Zavya names Ravi Malani as new COO and Co-founder
Zavya is projected to commence strategic efforts to enhance the brand identity, foster productive partnerships with celebrities and incorporate a streamlined approach in the omnichannel retailing experience.
Domestic toy makers’ tie ups with Snapdeal, Walmart in pipeline: Govt
The Indian government announced plans for tie-ups with international toy giants like Snapdeal and Walmart. The announcement comes amid Indian toy makers receiving orders over $10 million at a five-day international toy fair in Germany. The Indian toy sector is growing at a healthy rate and competing with global players.
Snapdeal's FY23 consolidated loss narrows to Rs 282 crore
The company's loss-reduction measures also led to revenue decreasing to Rs 388 crore in FY23 from Rs 564 crore in FY22.
Ecommerce enabling outfit Unicommerce reports 52.5% jump in operating profit to Rs 90 crore in FY23
Net profit rose 8% to Rs 6.45 crore from Rs 5.98 crore in FY22, according to its financial statements, filed with the Registrar of Companies.
Ecommerce SaaS company Unicommerce eyes IPO in second half of 2024
The firm has started the book-building process and capital markets and investment firm CLSA has been roped in as one of the managers for the initial public offering (IPO), they added.
ET Soonicorns Summit 2023: From Mama Earth IPO to Good Glamm Group’s content-to-commerce model and omnichannel strategies, experts on the evolution of D2C ecosystem
The Delhi-NCR edition of the ET Soonicorns Summit 2023 delved into the direct-to-consumer ecosystem, encompassing brands as diverse as the Good Glamm Group, a global beauty conglomerate from India, to Radhika Ghai-led KindLife and ShopClues and enablers such as ShipRocket and Fashinza. With Mama Earth making its public-market debut, it’s only time to note what founders and ecosystem experts had to say about the trajectory of the D2C space as the story of consumerisation 2.0 gains momentum in India.
Mamaearth parent's muted market debut, early investors clock gains; Xpressbees bags $80 million
Honasa Consumer had a rather flat debut on the stock markets today, opening at a 2% premium to its issue price. This and more in today’s ETtech Top 5.
Everything’s about profitability at ET Soonicorns Summit
Founders, investors want firms to get unit economics right from the start
Eyeing decent slice of value lifestyle segment growth in ecommerce: Snapdeal CEO
Snapdeal's business metrics are "in a good space" in the value ecommerce category and it has opted to "reinvest in growth now" as financial parameters are within striking distance of profitability, Himanshu Chakrawarti, CEO of Snapdeal, said.
E-comm story over next 5-10 yrs around value lifestyle segment growth, want decent slice of that opportunity: Snapdeal CEO
Since Snapdeal has exited certain categories, the customer numbers and traffic are lower, but the platform is seeing 75 per cent of business from repeat customers, demonstrating buyer stickiness. On whether competition with deep pockets puts Snapdeal at a certain disadvantage, he said, "No, because the market is large and so there will be people looking for honest, good pricing with good control on quality. They will discover and keep coming back to us".
Mamaearth IPO: Snapdeal sharks hit jackpot, turn Rs 38 lakh into Rs 38 crore in 6 years
Snapdeal co-founders Kunal Bahl and Rohit Kumar Bansal are among the two sharks who had acquired stakes in the digital-first beauty and personal care company at an average cost price of just Rs 3.21 per share in August 2017. At the upper price band of Rs 324, the duo stands to make an astounding profit of Rs 38.27 crore translating into a return of 9,993%.
Who would you like to sit with in work meetings? Kunal Bahl likes those who are 'just very chop-chop'!
Snapdeal co-founder Kunal Bahl made it clear that he likes working with people who have a similar style of functioning.
Kunal Bahl remains optimistic about start-ups, says next 5 yrs will see 'wave of profitable new age companies going public'
The Snapdeal founder is confident that a wave of successful start-ups will drive India's growth in public markets.
It’s lonely at the top! Snapdeal co-founder Kunal Bahl talks about dealing with loneliness, 3 ways in which start-up bosses can prioritise mental health
A 2018 Forbes report revealed how loneliness - the feeling of being isolated from the world, and feeling hopeless and unloved is sadly becoming rampant among entrepreneurs.
With eye on Bharat, Snapdeal says it’s close to profitability
With e-commerce expected to grow significantly going ahead, Snapdeal ensures to focus on budget-conscious shoppers who seek both value and quality in their purchases.
'No hard feelings.' Snapdeal boss Kunal Bahl has 3 tips for entrepreneurs to shine
Kunal Bahl, the co-founder of Snapdeal, has shared insights in a LinkedIn post on the challenges he faced when seeking help from others .
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