It has heavily invested in its supply chain infrastructure over the years, with a particular focus on reducing delivery times for grocery items.
Quick-commerce accounts for about 40% of the online grocery delivery category, the analysts said.
“Quick commerce with a potential TAM of ~$45 billion (~7% of the grocery market of $620 billion),” they wrote.
We estimate quick-commerce GMV to grow to $6.2 billion by 2025.”Indian news outlet Entrackr first reported some of the details of Flipkart’s instant commerce play Thursday.
We constantly work towards delivering a wide range of products to customers with speed,” a Flipkart spokesperson said.
Berlin’s Razor Group has acquired U.S.-based Perch, and on top of this it has raised just over $100 million led by Presight Capital with other undisclosed investors participating.
The news is the latest development in a wider consolidation and reordering taking place in the world of e-commerce aggregation.
Perch, we have heard from multiple sources, had been looking for a buyer for the better part of a year.
Perch and Razor do happen to have some investors in common, such as Victory Park Capital, which may well have been central to the negotiations between the two.
He claims that this deal solidifies Razor as the “market leader”, and that it is on track for $1 billion in revenues in the next four to eight quarters.
The company raised $8 million in seed funding in 2022 to value the company at $110 million.
Topsort develops retail media technology for small businesses to use auctions as a way to create effective advertising.
When they start a campaign, customers can add items like sponsored listings, banner ads and video ads.
They then control how the ads are shown, how to measure ad quality and relevance, and who can launch campaigns.
Today, Topsort is used by marketplaces in 35 countries by the likes of Poshmark and Youtravel.me.
It said it has also secured an emergency $90 million in emergency financing from unnamed existing lenders.
The $90 million in new capital, it said, “is expected to provide sufficient liquidity to support the Company throughout this process and beyond.
The news should not come as a surprise: there have been murmurs of the company’s impending bankruptcy since last year.
At the time, the company had just raised $1 billion at a valuation, it said, of “up to” $10 billion.
(It noted that even in 2022 it was “just” $4.5 billion, not the $10 billion that the company had said it was.)
“Your products will be featured in a special store on Amazon, making them easy for customers to find,” the company wrote in the communication.
TechCrunch reported earlier this month, citing job recruitment posts, that Amazon was looking to expand its focus on fast fashion.
Top player Flipkart leads the category but faces mounting competition from Ambani’s Ajio, which has amassed about 30% market share, according to research firm Bernstein.
The fashion market is extremely fragmented offline, and the online market is seeing similar trends with multiple players emerging to gain share.
(Amazon is instead doubling down on AWS in India, and plans to deploy $12.7 billion in the cloud business in the country by 2030.)
TechTaka, a South Korean online shopping fulfillment startup that provides third-party logistics services for e-commerce sellers, has raised $9.5 million (12.6 billion KRW) in a Series B round of funding from a sole investor, Altos Ventures.
The outfit helps e-commerce sellers manage the supply chain, from warehousing, order packing and shipping, so that TechTaka users can focus on product and marketing.
His expertise and interests in logistics and optimization led him to start TechTaka to offer quick and reliable logistics services.
(Coupang has its own fulfillment centers, and Naver bolsters its fulfillment service in collaboration with logistics and fulfillment companies like TechTaka.)
“We tested our service in the U.S. by introducing Korean e-commerce sellers to Amazon, starting in May 2023,” Kim said.
The move is part of the company’s plans to turn TikTok Shop into a multi-billion dollar e-commerce business in the United States.
During the Black Friday and Cyber Monday season in November, more than 5 million new U.S. customers purchased something via TikTok Shop.
The new feature would bring TikTok Shop links to regular content on the app, which may not be a welcome change for some.
New data reveals that TikTok’s growth has started to slow, raising the question of whether the app’s TikTok Shop e-commerce efforts could be to blame.
The slowdown comes on the heels of the launch of TikTok Shop in the U.S.People have been debating online whether TikTok Shop has “ruined” the app, with some lamenting that TikTok Shop was turning the app into an “ad-filled wasteland.”In addition to bringing TikTok Shop links to more videos on the platform, TikTok is also exploring other ways to boost its e-commerce business.
Flipkart co-founder Binny Bansal has resigned from the e-commerce group’s board, the two said Saturday.
Sachin Bansal, the Bengaluru-headquartered startup’s other co-founder, left the board in 2018 after scuffle with the investors.
Binny Bansal, who reserved the rights to stay on Flipkart’s board for as long as he preferred, cited conflict of interest with his new venture as the reason for the move.
“I am proud of the Flipkart Group’s achievements over the past 16 years.
After leaving Flipkart, Sachin Bansal founded Navi, a financial services firm that is looking to go public.
Total returns for the industry amounted to $743 billion in merchandise in 2023, according to the National Retail Federation and Appriss Retail.
Startups have also come in with new technologies to manage the delivery and return experience.
Returnmates, now rebranded as Sway, is the latest to attract new venture capital for its approach to delivery and returns that focuses on the customer.
The company rebranded to Sway as a way to show its evolution beyond returns to last-mile delivery capabilities, company co-founder and CEO Eric Wimer told TechCrunch via email.
Sway is currently active in California, Texas, Washington, Washington, D.C., Maryland, Virginia, New York and Florida.
Egyptian B2B e-commerce startup MaxAB and Wasoko, a Kenya-based e-commerce player with operations in Tanzania, Rwanda, Uganda and Zambia, are in talks to merge operations, TechCrunch has exclusively learned from multiple sources.
The merger talks come as B2B e-commerce companies in Africa continue to scale back operations due to funding scarcity.
TechCrunch learned that the company had only received $30 million by the time merger talks, which are said to be investor-led, started.
As of last year, the prospect of a merger between MaxAB and Wasoko, both asset-heaving B2B e-commerce startups, seemed unlikely.
The eight-year-old B2B e-commerce company has since expanded to Zambia and the Democratic Republic of Congo.
