Page 13 - Ecommerce News Today

As per the filings, Fidelitys funds have set Meeshos fair value at around $4.1 billion as of October 31, 2023, down from around $5 billion as of end-August. Meesho was last valued at $4.9 billion after raising $570 million in 2021.

Food delivery aggregator Swiggy is testing a potential doubling of its platform fee from ₹5 to ₹10 per food order as it prepares for its upcoming IPO.

Kiran Thadimarri, group finance controller, will be elevated to the executive management team. Further, Vishnu Menon, head - corporate strategy & investor relations, has been given additional charge of business finance.

BigBaskets BB Now, Zepto, Blinkit, and Swiggy Instamart capitalised on the event by promoting the sale of items such as lamps, flowers, incense sticks, coconuts and sweets with the introduction of a separate category for these products on their apps.

After an expected spurt during the festive season, ecommerce sales saw a larger-than-usual dip in December. This and more in todays ETtech Morning Dispatch.

Across categories—from electronics and accessories to fashion and household items--there was a slowdown in December, a top industry executive said, adding the dip was steeper than usual after a festive month. The ongoing Republic Day sales, however, have brought some respite to online shopping platforms, with a spike in consumption demand as per early trends.

Ecommerce sites had seen a significant dip in sales volume in December immediately after the end of the festive season, triggering growth concerns among online marketplaces and brands, according to industry executives. The ongoing Republic Day sales, however, have brought some respite to online shopping platforms, with a spike in consumption demand as per early trends, people aware of the numbers said.

The action is being taken against Amazon following a complaint from the Confederation of All India Traders (CAIT), which has alleged that the marketplace is engaging in deceptive trade practices, with one of its sellers exploiting “religious sentiments for commercial gains.”

What to buy, where to go, who to know

Mysore-based BuyEazzy, founded in May 2021 by Rahul Aggarwal and Hariher B, is a beauty and wellness-focused ecommerce platform catering to tier-2 and tier-3 cities. It will use the fresh funds to support expansion, team building and product enhancement efforts.