E-commerce company News

Thirty four-year old Padmini MP, a warehouse executive at Flipkart, on Tuesday walked into office as the CEO of India's largest e-commerce company, Flipkart.

Snapdeal has so far declined to comment on sale talks and said that it remains focused on achieving profitability.

Homegrown e-tailer Flipkart has crossed the 100-million registered users mark, becoming the first e-commerce company in the country to hit the milestone.

Under the 'Growth Capital Initiative', Flipkart has partnered Bajaj Finserv, Axis bank, NeoGrowth, Lendingkart and Capital First to enable entrepreneurs fulfill their business aspirations.

Shares of eBay, which also announced an additional $1 billion share buyback program, were up 3 percent at $65.37 in premarket trading.

SingPost is seeking to boost its e-commerce business to offset weak postal revenues, and last year an Alibaba unit bought an over 10 percent stake in SingPost for $249 million.

Alibaba this week scored a minor deal with China`s northeastern port city of Dalian to build a cloud computing centre and provide online government services such as bill payment.

New York law enforcement officials have written to eBay Inc and PayPal Inc this week, saying the companies` revised user policies "raise issues" under consumer protection laws.

E-commerce company Amazon.com Inc and publisher HarperCollins have reached a new multi-year publishing deal that covers both print and digital titles, The Wall Street Journal reported, citing HarperCollins.

Snapdeal raised $627 million from Japan`s SoftBank in October last year. 

Ecommerce company Snapdeal.com will invest $150 million-$200 million to strengthen its delivery network in the next financial year, an executive said.

EBay Inc plans to cut its workforce by 7 percent, or 2,400 jobs, in the current quarter and is exploring a sale or public offering of its enterprise unit as the e-commerce company prepares to split from its payments division, PayPal, this year.

To provide a platform to budding designers from across the country, the e-commerce company has selected 11 new faces who will be trained under their first batch of Designer In Residence (DIR) module.

In its first acquisition after USD 627-million Softbank fund infusion, e-commerce major Snapdeal has acquired Wishpicker, an online gift retailer founded by IIT-Delhi graduates.

Initially, investors had from September 24 until October 7 to apply for shares. But the subscription period would now end on October 1.

The companies join a flurry of e-commerce flotations set to be crowned by Chinese giant Alibaba next week.